MIRA INFORM REPORT
|
Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
NIHON DECOLUXE CO., LTD. |
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|
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Registered Office : |
10, Kashiwamori Maeyashiki, Fuso-cho, Niwa-Gun, 480-0103 |
|
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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|
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Date of Incorporation : |
04.08.1958 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
manufacturer and sale of decorative laminates |
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|
No. of Employees : |
163 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6,00,000 |
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|
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong
work ethic, mastery of high technology, and a comparatively small defense
allocation (1% of GDP) helped Japan develop a technologically advanced economy.
Two notable characteristics of the post-war economy were the close interlocking
structures of manufacturers, suppliers, and distributors, known as keiretsu,
and the guarantee of lifetime employment for a substantial portion of the urban
labor force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001, and
third-place India, which edged out Japan in 2011. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan
further into recession. Government stimulus spending helped the economy recover
in late 2009 and 2010, but the economy contracted again in 2011 as the massive
9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies
remain tight because Japan has temporarily shut down almost all of its nuclear
power plants after the Fukushima Daiichi nuclear reactors were crippled by the
earthquake and resulting tsunami. Estimates of the direct costs of the damage -
rebuilding homes, factories, and infrastructure - range from $235 billion to
$310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
Company name & address
NIHON DECOLUXE
CO., LTD.
10, Kashiwamori Maeyashiki, Fuso-cho
Niwa-Gun, 480-0103
Japan
Tel: 81-587-932411
Fax: 81-587-911070
Web: www.decoluxe.co.jp
Synthesis
Employees: 163
Company Type: Public Independent
Traded: Nagoya
Stock Exchange: 7950
Incorporation Date:
04-Aug-1958
Auditor: KPMG AZSA LLC
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: Japanese
Yen
Annual Sales: 68.3
1
Net Income: 4.5
Total Assets: 207.6
2
Market Value: 49.1 (01-Mar-2013)
Credit Limit
USD 6,00,000
Business Description
NIHON DECOLUXE CO.,LTD. is a Japan-based company mainly engaged in the
manufacture and sale of decorative laminates. The Company operates in three
business divisions. The Decorative Laminates division manufactures and sells
high-pressure melamine laminated sheets, noncombustible melamine laminated
sheets, wooden post form top panels and wooden post form doors, among others.
The Company also provides technical guidance for PT. SUPREME DECOLUXE. The
Electronic Materials Industry Products division manufactures and sells phenol
resin laminate sheets for printed-circuit boards and others. The Chemical
Anchor division manufactures and sells construction anchors. As of March 31,
2012, the Company had one associated company. For the nine months ended 31
December 2012, NIHON DECOLUXE CO., LTD. revenues increased 5% to Y4.14B. Net
income applicable to common stockholders increased 3% to Y278.8M. Revenues
reflect an increase in demand for the Company's products and services due to
favorable market conditions. Net income was partially offset by Selling General
And Administrative Exp increase of 5% to Y1.08B (expense).
Industry
Industry Construction - Supplies and Fixtures
ANZSIC 2006: 1411 - Log
Sawmilling
NACE 2002: 2020 - Manufacture
of veneer sheets; manufacture of plywood, laminboard, particle board, fibre
board and other panels and boards
NAICS 2002: 321911 - Wood
Window and Door Manufacturing
UK SIC 2003: 2020 - Manufacture
of veneer sheets; manufacture of plywood, laminboard, particle board, fibre
board and other panels and boards
UK SIC 2007: 1621 - Manufacture
of veneer sheets and wood-based panels
US SIC 1987: 2431 - Millwork
Key Executives
|
Name |
Title |
|
Shigeo Kimura |
President, Representative Director |
|
Isao Kimura |
Managing Director, Chief Director of Marketing |
|
Toshio Kimura |
Executive Officer, Mie Plant Manager |
|
Akira Niwa |
Executive Officer, Main Office Plant Manager |
|
Yasukazu Takenaka |
Executive Director |
news
|
Title |
Date |
|
Nihon
Decoluxe 9Mos Parent Net Pft Y278.00M Vs Y269.00M Pft Yr Earlier |
30-Jan-2013 |
|
Nihon
Decoluxe Expects This FY Parent Net Profit Y373.00M |
30-Jan-2013 |
|
Nihon
Decoluxe 1H Parent Net Pft Y146.00M Vs Y183.00M Pft Yr Earlier |
30-Oct-2012 |
|
Nihon Decoluxe
Expects This FY Parent Net Profit Y373.00M |
30-Oct-2012 |
|
Nihon
Decoluxe 1Q Parent Net Pft Y42.00M Vs Y62.00M Pft Yr Earlier |
31-Jul-2012 |
|
Nihon
Decoluxe Expects This FY Parent Net Profit Y373.00M |
31-Jul-2012 |
Financial Summary
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.38536
Corporate Overview
Location
10, Kashiwamori Maeyashiki, Fuso-cho
Niwa-Gun, 480-0103
Japan
Tel: 81-587-932411
Fax: 81-587-911070
Web: www.decoluxe.co.jp
Quote Symbol - Exchange
7950 - Nagoya
Stock Exchange
Sales JPY(mil): 5,391.8
Assets JPY(mil): 17,106.0
Employees: 163
Fiscal Year End: 31-Mar-2012
Industry: Construction
- Supplies and Fixtures
Incorporation Date: 04-Aug-1958
Company Type: Public
Independent
Quoted Status: Quoted
President, Representative
Director:
Shigeo Kimura
Industry Codes
ANZSIC 2006 Codes:
1411 - Log Sawmilling
1911 - Polymer Film and Sheet Packaging Material Manufacturing
1912 - Rigid and Semi-Rigid Polymer Product Manufacturing
696 - Management and Related Consulting Services
NACE 2002 Codes:
2020 - Manufacture of veneer sheets; manufacture of plywood,
laminboard, particle board, fibre board and other panels and boards
7414 - Business and management consultancy activities
2521 - Manufacture of plastic plates, sheets, tubes and profiles
NAICS 2002 Codes:
321911 - Wood Window and Door Manufacturing
326130 - Laminated Plastics Plate, Sheet (except Packaging), and
Shape Manufacturing
326113 - Unlaminated Plastics Film and Sheet (except Packaging)
Manufacturing
541611 - Administrative Management and General Management Consulting
Services
US SIC 1987:
2431 - Millwork
8742 - Management Consulting Services
3081 - Unsupported Plastics Film and Sheet
3083 - Laminated Plastics Plate, Sheet, and Profile Shapes
UK SIC 2003:
2020 - Manufacture of veneer sheets; manufacture of plywood,
laminboard, particle board, fibre board and other panels and boards
74143 - General management consultancy activities
2521 - Manufacture of plastic plates, sheets, tubes and profiles
UK SIC 2007:
1621 - Manufacture of veneer sheets and wood-based panels
2221 - Manufacture of plastic plates, sheets, tubes and profiles
70229 - Management consultancy activities (other than financial
management)
Business
Description
NIHON DECOLUXE
CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of
decorative laminates. The Company operates in three business divisions. The
Decorative Laminates division manufactures and sells high-pressure melamine
laminated sheets, noncombustible melamine laminated sheets, wooden post form
top panels and wooden post form doors, among others. The Company also provides
technical guidance for PT. SUPREME DECOLUXE. The Electronic Materials Industry
Products division manufactures and sells phenol resin laminate sheets for
printed-circuit boards and others. The Chemical Anchor division manufactures
and sells construction anchors. As of March 31, 2012, the Company had one
associated company. For the nine months ended 31 December 2012, NIHON DECOLUXE
CO., LTD. revenues increased 5% to Y4.14B. Net income applicable to common
stockholders increased 3% to Y278.8M. Revenues reflect an increase in demand
for the Company's products and services due to favorable market conditions. Net
income was partially offset by Selling General And Administrative Exp increase
of 5% to Y1.08B (expense).
More Business
Descriptions
Manufacture of melamine boards for the building and electronic
industries
Paint and Coating Manufacturing
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Executive report
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Board of
Directors |
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President, Representative Director |
Director/Board Member |
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Managing Director, Chief Director of Marketing |
Director/Board Member |
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Executive Director |
Director/Board Member |
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Executives |
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President, Representative Director |
President |
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Managing Director, Chief Director of Marketing |
Managing Director |
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Executive Officer, Mie Plant Manager |
Other |
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Executive Officer, Main Office Plant Manager |
Other |
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IR Contact Officer |
Other |
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Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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|
Net Sales |
68.0 |
64.8 |
51.6 |
48.7 |
49.1 |
|
Revenue |
68.0 |
64.8 |
51.6 |
48.7 |
49.1 |
|
Other Revenue |
0.3 |
0.2 |
0.0 |
- |
- |
|
Other Revenue, Total |
0.3 |
0.2 |
0.0 |
- |
- |
|
Total Revenue |
68.3 |
65.0 |
51.6 |
48.7 |
49.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
42.6 |
40.9 |
32.8 |
34.5 |
34.8 |
|
Cost of Revenue, Total |
42.6 |
40.9 |
32.8 |
34.5 |
34.8 |
|
Gross Profit |
25.4 |
23.9 |
18.8 |
14.2 |
14.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
8.1 |
7.8 |
6.2 |
6.3 |
6.3 |
|
Labor & Related Expense |
7.5 |
6.9 |
6.2 |
6.2 |
5.6 |
|
Advertising Expense |
0.5 |
0.6 |
0.4 |
0.3 |
0.4 |
|
Total Selling/General/Administrative Expenses |
16.2 |
15.3 |
12.8 |
12.8 |
12.3 |
|
Research & Development |
1.2 |
1.0 |
1.0 |
0.9 |
0.7 |
|
Depreciation |
0.3 |
0.3 |
0.3 |
0.2 |
0.2 |
|
Depreciation/Amortization |
0.3 |
0.3 |
0.3 |
0.2 |
0.2 |
|
Impairment-Assets Held for Use |
0.3 |
1.4 |
0.2 |
0.0 |
0.1 |
|
Impairment-Assets Held for Sale |
- |
0.0 |
0.0 |
1.2 |
0.0 |
|
Other Unusual Expense (Income) |
-0.1 |
0.3 |
-0.1 |
0.0 |
0.3 |
|
Unusual Expense (Income) |
0.2 |
1.6 |
0.1 |
1.2 |
0.4 |
|
Total Operating Expense |
60.5 |
59.0 |
47.0 |
49.6 |
48.4 |
|
|
|
|
|
|
|
|
Operating Income |
7.8 |
5.9 |
4.7 |
-0.9 |
0.7 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Net Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Income -
Non-Operating |
0.5 |
0.5 |
0.8 |
0.8 |
1.0 |
|
Investment Income -
Non-Operating |
-0.7 |
2.0 |
0.7 |
0.5 |
2.4 |
|
Interest/Investment Income - Non-Operating |
-0.2 |
2.5 |
1.5 |
1.4 |
3.3 |
|
Interest Income (Expense) - Net Non-Operating Total |
-0.2 |
2.5 |
1.5 |
1.3 |
3.3 |
|
Gain (Loss) on Sale of Assets |
- |
0.0 |
-0.2 |
0.0 |
- |
|
Other Non-Operating Income (Expense) |
-0.1 |
-0.1 |
-0.1 |
0.1 |
0.3 |
|
Other, Net |
-0.1 |
-0.1 |
-0.1 |
0.1 |
0.3 |
|
Income Before Tax |
7.5 |
8.3 |
5.9 |
0.5 |
4.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
3.0 |
4.1 |
2.4 |
0.2 |
2.4 |
|
Income After Tax |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
Net Income |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
8.1 |
8.1 |
8.1 |
8.2 |
8.4 |
|
Basic EPS Excl Extraord Items |
0.56 |
0.52 |
0.43 |
0.04 |
0.22 |
|
Basic/Primary EPS Incl Extraord Items |
0.56 |
0.52 |
0.43 |
0.04 |
0.22 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
Diluted Weighted Average Shares |
8.1 |
8.1 |
8.1 |
8.2 |
8.4 |
|
Diluted EPS Excl Extraord Items |
0.56 |
0.52 |
0.43 |
0.04 |
0.22 |
|
Diluted EPS Incl Extraord Items |
0.56 |
0.52 |
0.43 |
0.04 |
0.22 |
|
Dividends per Share - Common Stock Primary Issue |
0.20 |
0.19 |
0.17 |
0.16 |
0.16 |
|
Gross Dividends - Common Stock |
1.6 |
1.5 |
1.4 |
1.3 |
1.3 |
|
Interest Expense, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
3.6 |
2.9 |
2.6 |
2.9 |
2.6 |
|
Total Special Items |
0.2 |
1.6 |
0.3 |
1.2 |
0.4 |
|
Normalized Income Before Tax |
7.7 |
10.0 |
6.2 |
1.7 |
4.7 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
0.8 |
0.1 |
0.5 |
0.2 |
|
Inc Tax Ex Impact of Sp Items |
3.1 |
4.9 |
2.5 |
0.7 |
2.6 |
|
Normalized Income After Tax |
4.6 |
5.0 |
3.7 |
1.1 |
2.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4.6 |
5.0 |
3.7 |
1.1 |
2.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.57 |
0.62 |
0.45 |
0.13 |
0.24 |
|
Diluted Normalized EPS |
0.57 |
0.62 |
0.45 |
0.13 |
0.24 |
|
Amort of Intangibles, Supplemental |
0.0 |
- |
- |
- |
- |
|
Rental Expenses |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Advertising Expense, Supplemental |
0.5 |
0.6 |
0.4 |
0.3 |
0.4 |
|
Research & Development Exp, Supplemental |
1.2 |
1.0 |
1.0 |
0.9 |
0.7 |
|
Reported Operating Profit |
8.0 |
7.6 |
4.8 |
0.3 |
1.1 |
|
Reported Ordinary Profit |
8.6 |
8.1 |
5.7 |
1.7 |
2.9 |
|
Normalized EBIT |
8.0 |
7.6 |
4.8 |
0.3 |
1.1 |
|
Normalized EBITDA |
11.7 |
10.5 |
7.3 |
3.2 |
3.7 |
|
Current Tax - Total |
2.9 |
- |
- |
- |
- |
|
Current Tax - Total |
2.9 |
- |
- |
- |
- |
|
Deferred Tax - Total |
0.1 |
- |
- |
- |
- |
|
Deferred Tax - Total |
0.1 |
- |
- |
- |
- |
|
Income Tax - Total |
3.0 |
- |
- |
- |
- |
|
Other Pension, Net - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Domestic Pension Plan Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Defined Contribution Expense - Domestic |
- |
0.2 |
0.2 |
0.2 |
0.2 |
|
Total Pension Expense |
0.1 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Total Plan Other Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
51.6 |
27.1 |
49.1 |
14.2 |
24.6 |
|
Short Term Investments |
47.8 |
51.9 |
13.8 |
22.5 |
15.6 |
|
Cash and Short Term Investments |
99.3 |
79.0 |
63.0 |
36.7 |
40.2 |
|
Accounts Receivable -
Trade, Gross |
17.2 |
15.9 |
12.6 |
10.4 |
11.8 |
|
Provision for Doubtful
Accounts |
0.0 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Trade Accounts Receivable - Net |
17.2 |
15.8 |
12.5 |
10.3 |
11.7 |
|
Notes Receivable - Short Term |
7.4 |
9.5 |
7.5 |
6.6 |
10.4 |
|
Other Receivables |
0.0 |
0.0 |
0.0 |
0.0 |
13.7 |
|
Total Receivables, Net |
24.6 |
25.3 |
20.1 |
16.9 |
35.8 |
|
Inventories - Finished Goods |
3.4 |
3.1 |
2.6 |
2.6 |
3.7 |
|
Inventories - Work In Progress |
0.4 |
0.4 |
0.3 |
0.3 |
0.5 |
|
Inventories - Raw Materials |
3.1 |
2.3 |
1.9 |
2.3 |
2.7 |
|
Inventories - Other |
- |
- |
- |
- |
0.3 |
|
Total Inventory |
6.9 |
5.8 |
4.8 |
5.1 |
7.1 |
|
Prepaid Expenses |
0.1 |
0.3 |
0.2 |
0.0 |
0.2 |
|
Deferred Income Tax - Current Asset |
0.6 |
0.7 |
0.7 |
0.7 |
0.9 |
|
Other Current Assets |
0.3 |
0.3 |
0.3 |
0.3 |
0.1 |
|
Other Current Assets, Total |
0.9 |
1.1 |
1.0 |
1.1 |
1.1 |
|
Total Current Assets |
131.8 |
111.3 |
89.1 |
59.8 |
84.3 |
|
|
|
|
|
|
|
|
Buildings |
29.7 |
28.5 |
25.2 |
22.6 |
19.7 |
|
Land/Improvements |
13.3 |
13.2 |
12.9 |
12.2 |
12.1 |
|
Machinery/Equipment |
47.1 |
43.3 |
36.4 |
36.0 |
35.8 |
|
Construction in
Progress |
0.1 |
0.6 |
0.5 |
0.0 |
0.8 |
|
Property/Plant/Equipment - Gross |
90.2 |
85.6 |
75.0 |
70.7 |
68.4 |
|
Accumulated Depreciation |
-56.3 |
-53.1 |
-45.3 |
-42.5 |
-39.9 |
|
Property/Plant/Equipment - Net |
33.9 |
32.5 |
29.7 |
28.2 |
28.5 |
|
Intangibles, Net |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
LT Investment - Affiliate Companies |
2.2 |
2.1 |
1.9 |
1.8 |
2.1 |
|
LT Investments - Other |
35.7 |
36.4 |
24.7 |
37.0 |
22.2 |
|
Long Term Investments |
37.8 |
38.5 |
26.6 |
38.8 |
24.3 |
|
Note Receivable - Long Term |
0.1 |
0.5 |
0.4 |
0.5 |
0.4 |
|
Deferred Income Tax - Long Term Asset |
0.1 |
0.1 |
0.0 |
1.2 |
0.0 |
|
Other Long Term Assets |
3.6 |
3.2 |
2.9 |
2.7 |
3.8 |
|
Other Long Term Assets, Total |
3.7 |
3.3 |
2.9 |
3.9 |
3.8 |
|
Total Assets |
207.6 |
186.3 |
148.8 |
131.2 |
141.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
3.3 |
3.5 |
2.8 |
1.6 |
3.2 |
|
Accrued Expenses |
2.1 |
2.3 |
2.1 |
2.0 |
2.5 |
|
Notes Payable/Short Term Debt |
9.2 |
10.7 |
7.5 |
6.1 |
10.0 |
|
Customer Advances |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Security Deposits |
1.0 |
1.0 |
0.7 |
0.7 |
0.6 |
|
Income Taxes Payable |
1.1 |
2.5 |
2.3 |
0.3 |
0.0 |
|
Other Payables |
36.7 |
15.7 |
1.1 |
0.0 |
0.1 |
|
Other Current Liabilities |
0.0 |
- |
- |
- |
- |
|
Other Current liabilities, Total |
38.8 |
19.2 |
4.2 |
1.0 |
0.7 |
|
Total Current Liabilities |
53.4 |
35.8 |
16.6 |
10.7 |
16.4 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
9.2 |
10.7 |
7.5 |
6.1 |
10.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
- |
0.0 |
0.3 |
0.0 |
0.6 |
|
Deferred Income Tax |
- |
0.0 |
0.3 |
0.0 |
0.6 |
|
Reserves |
0.2 |
0.2 |
0.0 |
- |
- |
|
Pension Benefits - Underfunded |
2.9 |
2.7 |
2.3 |
2.0 |
2.2 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Other Liabilities, Total |
3.0 |
2.9 |
2.3 |
2.0 |
2.2 |
|
Total Liabilities |
56.5 |
38.6 |
19.1 |
12.7 |
19.2 |
|
|
|
|
|
|
|
|
Common Stock |
30.5 |
30.3 |
26.9 |
25.5 |
25.3 |
|
Common Stock |
30.5 |
30.3 |
26.9 |
25.5 |
25.3 |
|
Additional Paid-In Capital |
28.0 |
27.8 |
24.7 |
23.3 |
23.2 |
|
Retained Earnings (Accumulated Deficit) |
97.5 |
94.1 |
81.0 |
74.7 |
75.3 |
|
Treasury Stock - Common |
-4.5 |
-4.4 |
-3.9 |
-3.7 |
-2.6 |
|
Unrealized Gain (Loss) |
-0.3 |
-0.2 |
1.0 |
-1.2 |
1.1 |
|
Total Equity |
151.2 |
147.6 |
129.7 |
118.6 |
122.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
207.6 |
186.3 |
148.8 |
131.2 |
141.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
8.1 |
8.1 |
8.1 |
8.1 |
8.4 |
|
Total Common Shares Outstanding |
8.1 |
8.1 |
8.1 |
8.1 |
8.4 |
|
Treasury Shares - Common Stock Primary Issue |
0.8 |
0.8 |
0.8 |
0.8 |
0.6 |
|
Employees |
163 |
166 |
167 |
178 |
191 |
|
Number of Common Shareholders |
346 |
340 |
349 |
369 |
383 |
|
Deferred Revenue - Current |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
7.5 |
8.3 |
5.9 |
0.5 |
4.2 |
|
Depreciation |
3.6 |
2.9 |
2.6 |
2.9 |
2.6 |
|
Depreciation/Depletion |
3.6 |
2.9 |
2.6 |
2.9 |
2.6 |
|
Unusual Items |
1.2 |
-0.3 |
-0.3 |
0.7 |
-2.0 |
|
Other Non-Cash Items |
-1.0 |
-0.6 |
-1.0 |
-0.9 |
-6.5 |
|
Non-Cash Items |
0.2 |
-0.9 |
-1.3 |
-0.1 |
-8.6 |
|
Accounts Receivable |
0.9 |
-2.6 |
-2.1 |
5.3 |
1.3 |
|
Inventories |
-1.1 |
-0.4 |
0.7 |
2.0 |
-0.1 |
|
Other Assets |
0.3 |
0.1 |
-0.3 |
0.1 |
-0.8 |
|
Accounts Payable |
-0.8 |
1.4 |
2.2 |
-5.0 |
-1.6 |
|
Accrued Expenses |
0.0 |
0.0 |
0.0 |
0.0 |
-0.1 |
|
Payable/Accrued |
0.1 |
0.0 |
-0.2 |
-0.2 |
-0.2 |
|
Taxes Payable |
-0.2 |
-0.1 |
0.1 |
-0.2 |
0.3 |
|
Other Liabilities |
0.0 |
0.0 |
-0.1 |
0.1 |
0.0 |
|
Other Operating Cash Flow |
-3.3 |
-2.9 |
0.8 |
1.5 |
1.3 |
|
Changes in Working Capital |
-4.2 |
-4.4 |
1.1 |
3.4 |
0.0 |
|
Cash from Operating Activities |
7.2 |
6.0 |
8.3 |
6.7 |
-1.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-5.8 |
-3.2 |
-1.5 |
-2.7 |
-6.0 |
|
Purchase/Acquisition of Intangibles |
-0.1 |
-0.1 |
0.0 |
0.0 |
-0.1 |
|
Capital Expenditures |
-5.8 |
-3.3 |
-1.5 |
-2.7 |
-6.1 |
|
Sale of Fixed Assets |
- |
0.0 |
0.0 |
0.1 |
0.0 |
|
Sale/Maturity of Investment |
134.0 |
77.7 |
65.0 |
70.4 |
51.3 |
|
Purchase of Investments |
-107.8 |
-106.2 |
-36.0 |
-84.3 |
-31.5 |
|
Other Investing Cash Flow |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Other Investing Cash Flow Items, Total |
26.1 |
-28.6 |
28.9 |
-13.9 |
19.7 |
|
Cash from Investing Activities |
20.3 |
-31.9 |
27.4 |
-16.5 |
13.7 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-1.6 |
-1.5 |
-1.4 |
-1.5 |
-1.2 |
|
Total Cash Dividends Paid |
-1.6 |
-1.5 |
-1.4 |
-1.5 |
-1.2 |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
0.0 |
-1.1 |
0.0 |
|
Common Stock, Net |
0.0 |
0.0 |
0.0 |
-1.1 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
0.0 |
-1.1 |
0.0 |
|
Cash from Financing Activities |
-1.7 |
-1.5 |
-1.4 |
-2.6 |
-1.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
-0.1 |
|
Net Change in Cash |
25.8 |
-27.4 |
34.3 |
-12.3 |
10.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
28.4 |
53.6 |
15.1 |
26.3 |
12.4 |
|
Net Cash - Ending Balance |
54.3 |
26.2 |
49.4 |
14.0 |
23.1 |
|
Cash Taxes Paid |
4.2 |
3.6 |
0.3 |
-0.7 |
0.5 |
Annual Income Statement
|
Financials in: USD (mil), Except for share items (millions) and per
share items (actual units), |
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Products sales |
63.5 |
61.6 |
50.1 |
46.1 |
45.6 |
|
Goods sales |
4.5 |
3.2 |
1.5 |
2.6 |
3.5 |
|
Other sales |
0.3 |
0.2 |
0.0 |
- |
- |
|
Total Revenue |
68.3 |
65.0 |
51.6 |
48.7 |
49.1 |
|
|
|
|
|
|
|
|
Other Cost |
0.1 |
- |
- |
- |
- |
|
Cost of merchandise and finished goods s |
42.5 |
- |
- |
- |
- |
|
Other COG |
0.0 |
- |
- |
- |
- |
|
Total cost of sales |
- |
40.9 |
32.8 |
34.5 |
34.8 |
|
Other Selling/General/Admin. Expense |
0.0 |
- |
- |
- |
- |
|
Packing expenses |
2.6 |
2.6 |
1.9 |
1.9 |
2.0 |
|
Shipping expenses |
2.7 |
2.4 |
1.9 |
1.8 |
1.7 |
|
Advertisement expenses |
0.5 |
0.6 |
0.4 |
0.3 |
0.4 |
|
Directors'' compensations |
1.0 |
0.9 |
0.8 |
0.8 |
0.8 |
|
Payrolls |
4.3 |
4.0 |
3.7 |
3.7 |
3.3 |
|
Bonuses |
0.9 |
0.9 |
0.7 |
0.6 |
0.5 |
|
Provision for directors' bonuses |
- |
- |
- |
- |
0.0 |
|
Reserve for bonueses |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Provision for directors'' retirement ben |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Legal welfare |
0.7 |
0.7 |
0.6 |
0.6 |
0.5 |
|
Periodic retirement benefit costs |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Transportation expenses |
0.5 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Rental expenses |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Depreciation |
0.3 |
0.3 |
0.3 |
0.2 |
0.2 |
|
Tax & public charge |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Alllow. doubt. accts. |
0.0 |
0.0 |
0.0 |
0.2 |
0.0 |
|
R & D expenses |
1.2 |
1.0 |
1.0 |
0.9 |
0.7 |
|
Other SGA expenses |
2.0 |
1.8 |
1.6 |
1.6 |
1.9 |
|
Subsidy |
-0.1 |
- |
- |
- |
- |
|
SP G on rev. allow. doubt. accts. |
0.0 |
0.0 |
-0.1 |
0.0 |
- |
|
SP Death insurance received |
- |
- |
- |
- |
0.0 |
|
SP Marginal profit in dissapearance of |
- |
- |
0.0 |
-0.4 |
0.0 |
|
SP Subsidy Income |
- |
0.0 |
- |
- |
- |
|
SP Other special gains |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP L on retire. of fixed assets |
0.3 |
0.1 |
0.0 |
0.0 |
0.1 |
|
SP Impairment losses |
0.0 |
1.2 |
0.1 |
0.0 |
- |
|
SP L on dismantle of factory |
- |
- |
- |
0.0 |
0.1 |
|
SP L on val. of LT inv't secs. |
- |
0.0 |
0.0 |
1.2 |
0.0 |
|
SP L on retire. of inventories |
- |
- |
- |
- |
0.0 |
|
SP Other special losses |
0.0 |
0.3 |
0.0 |
0.4 |
0.2 |
|
Total Operating Expense |
60.5 |
59.0 |
47.0 |
49.6 |
48.4 |
|
|
|
|
|
|
|
|
SP G on sale of LT inv't secs. |
0.5 |
0.6 |
0.6 |
1.8 |
3.5 |
|
SP G on redemption of investment securit |
0.0 |
1.4 |
0.0 |
- |
- |
|
SP L on sale of LT inv't secs. |
-1.5 |
-0.1 |
-0.1 |
-1.7 |
-1.7 |
|
SP L on disp.fixed assets |
- |
0.0 |
-0.2 |
0.0 |
- |
|
NOP Interest income |
0.5 |
0.5 |
0.8 |
0.8 |
1.0 |
|
NOP Dividend income |
0.2 |
0.2 |
0.2 |
0.4 |
0.6 |
|
NOP Exchange gain |
- |
0.0 |
0.0 |
0.1 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP G on investment fund |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
NOP Reversal of insurance |
- |
- |
- |
0.0 |
0.3 |
|
NOP Other non-op. income |
0.1 |
0.0 |
0.1 |
0.2 |
0.0 |
|
NOP Interest expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
NOP Sales discount |
-0.2 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
NOP Taxes, other than income taxes |
- |
0.0 |
0.0 |
0.0 |
- |
|
NOP Exchange loss |
- |
- |
- |
0.0 |
-0.1 |
|
NOP L on investment fund |
- |
- |
- |
- |
0.0 |
|
NOP Other non-op. expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Taxes |
7.5 |
8.3 |
5.9 |
0.5 |
4.2 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
3.0 |
4.1 |
2.4 |
0.2 |
2.4 |
|
Net Income After Taxes |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
Net Income |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Earning Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
8.1 |
8.1 |
8.1 |
8.2 |
8.4 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.56 |
0.52 |
0.43 |
0.04 |
0.22 |
|
Basic EPS Including ExtraOrdinary Item |
0.56 |
0.52 |
0.43 |
0.04 |
0.22 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
4.5 |
4.2 |
3.5 |
0.3 |
1.8 |
|
Diluted Weighted Average Shares |
8.1 |
8.1 |
8.1 |
8.2 |
8.4 |
|
Diluted EPS Excluding ExtraOrd Items |
0.56 |
0.52 |
0.43 |
0.04 |
0.22 |
|
Diluted EPS Including ExtraOrd Items |
0.56 |
0.52 |
0.43 |
0.04 |
0.22 |
|
DPS-Common Stock |
0.20 |
0.19 |
0.17 |
0.16 |
0.16 |
|
Gross Dividends - Common Stock |
1.6 |
1.5 |
1.4 |
1.3 |
1.3 |
|
Normalized Income Before Taxes |
7.7 |
10.0 |
6.2 |
1.7 |
4.7 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
3.1 |
4.9 |
2.5 |
0.7 |
2.6 |
|
Normalized Income After Taxes |
4.6 |
5.0 |
3.7 |
1.1 |
2.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4.6 |
5.0 |
3.7 |
1.1 |
2.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.57 |
0.62 |
0.45 |
0.13 |
0.24 |
|
Diluted Normalized EPS |
0.57 |
0.62 |
0.45 |
0.13 |
0.24 |
|
Amort of Intang Assets Current Portion |
0.0 |
- |
- |
- |
- |
|
Research & Development Exp. |
1.2 |
1.0 |
1.0 |
0.9 |
0.7 |
|
Advertising Expense |
0.5 |
0.6 |
0.4 |
0.3 |
0.4 |
|
Interest Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rental Expense |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Amort of Tangible Assets-Current Portion |
3.6 |
- |
- |
- |
- |
|
Depreciation |
- |
2.9 |
2.6 |
2.9 |
2.6 |
|
Income taxes-current |
2.9 |
- |
- |
- |
- |
|
Current Tax - Total |
2.9 |
- |
- |
- |
- |
|
Income taxes-deferred |
0.1 |
- |
- |
- |
- |
|
Deferred Tax - Total |
0.1 |
- |
- |
- |
- |
|
Income Tax - Total |
3.0 |
- |
- |
- |
- |
|
Reported Operating Profit |
8.0 |
7.6 |
4.8 |
0.3 |
1.1 |
|
Reported Ordinary Profit |
8.6 |
8.1 |
5.7 |
1.7 |
2.9 |
|
Prepaid retirement benefit - severance |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Domestic Pension Plan Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Defined Contribution Expense |
- |
0.2 |
0.2 |
0.2 |
0.2 |
|
Total Pension Expense |
0.1 |
0.3 |
0.3 |
0.3 |
0.3 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and deposits |
51.6 |
27.1 |
49.1 |
14.2 |
24.6 |
|
Notes receivable-trade |
7.4 |
9.5 |
7.5 |
6.6 |
10.4 |
|
Accounts receivable-trade |
17.2 |
15.9 |
12.6 |
10.4 |
11.8 |
|
Short-term investment securities |
47.8 |
51.9 |
13.8 |
22.5 |
15.6 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Inventories - merchandise |
- |
- |
- |
- |
0.7 |
|
Inventories - finished goods |
- |
- |
- |
- |
3.0 |
|
Inventories - merchandise&finished goods |
3.4 |
3.1 |
2.6 |
2.6 |
- |
|
Inventories - raw materials |
- |
- |
- |
- |
2.7 |
|
Inventories - work-in-process |
0.4 |
0.4 |
0.3 |
0.3 |
0.5 |
|
Inventories - raw materials & supplies |
3.1 |
2.3 |
1.9 |
2.3 |
- |
|
Supplies |
- |
- |
- |
- |
0.3 |
|
Advance payments-trade |
0.1 |
0.3 |
0.2 |
0.0 |
0.2 |
|
Deferred income taxes (current portion) |
0.6 |
0.7 |
0.7 |
0.7 |
0.9 |
|
Accounts receivable-other |
0.0 |
0.0 |
0.0 |
0.0 |
13.7 |
|
Current assets other |
0.3 |
0.3 |
0.3 |
0.3 |
0.1 |
|
Allowance for doubtful accounts(current) |
0.0 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Total Current Assets |
131.8 |
111.3 |
89.1 |
59.8 |
84.3 |
|
|
|
|
|
|
|
|
Buildings, gross |
27.1 |
25.9 |
22.9 |
20.7 |
17.9 |
|
Accumulated depreciation(Buildings) |
-14.5 |
-13.7 |
-11.5 |
-10.4 |
-9.8 |
|
Structures, gross |
2.6 |
2.6 |
2.3 |
1.9 |
1.8 |
|
Accumulated depreciation(Structures) |
-2.1 |
-2.0 |
-1.7 |
-1.5 |
-1.4 |
|
Machineries, gross |
44.9 |
41.1 |
34.4 |
34.2 |
33.9 |
|
Accum Dep & Impair Loss of Mchy &
Equipt |
-37.6 |
-35.4 |
-30.4 |
-29.1 |
-27.3 |
|
Vehicles |
0.6 |
0.7 |
0.6 |
0.6 |
0.6 |
|
Accumulated Depreciation(Vehicles) |
-0.6 |
-0.6 |
-0.5 |
-0.5 |
-0.5 |
|
Tools, furniture and fixtures |
1.6 |
1.5 |
1.4 |
1.3 |
1.2 |
|
Acc. Depre&Impair-Tool,Furniture&Fixture |
-1.4 |
-1.4 |
-1.2 |
-1.1 |
-1.0 |
|
Land |
13.3 |
13.2 |
12.9 |
12.2 |
12.1 |
|
Construction in progress |
0.1 |
0.6 |
0.5 |
0.0 |
0.8 |
|
Other Total Intangible Assets, Net |
0.0 |
- |
- |
- |
- |
|
Software |
0.1 |
0.1 |
0.1 |
0.0 |
0.1 |
|
Telephone subscription rights |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other intangible assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long-term investment in securities |
35.7 |
36.4 |
24.7 |
37.0 |
22.2 |
|
Equity securities-nonconsolid. affiliate |
2.2 |
2.1 |
1.9 |
1.8 |
2.1 |
|
Inv't in capital of closely-held co. |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Claims provable in bankruptcy, claims pr |
0.1 |
0.5 |
0.4 |
0.5 |
0.4 |
|
Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Long-term prepaid expenses |
0.0 |
0.1 |
0.2 |
0.1 |
0.2 |
|
Insurance reserve |
2.9 |
2.8 |
2.5 |
2.4 |
3.3 |
|
Deferred tax assets |
0.1 |
0.1 |
0.0 |
1.2 |
0.0 |
|
Other assets |
0.8 |
0.8 |
0.7 |
0.7 |
0.7 |
|
Allowance doubtful accounts(non-current) |
-0.1 |
-0.5 |
-0.4 |
-0.5 |
-0.4 |
|
Adjustment |
- |
0.0 |
0.0 |
- |
0.0 |
|
Property/Plant/Equipment, Total - Net |
0.0 |
- |
- |
- |
- |
|
Total Assets |
207.6 |
186.3 |
148.8 |
131.2 |
141.4 |
|
|
|
|
|
|
|
|
Notes payable-trade |
9.0 |
9.5 |
7.5 |
6.0 |
9.4 |
|
Accounts payable-trade |
3.3 |
3.5 |
2.8 |
1.6 |
3.2 |
|
Accounts payable-other |
36.7 |
15.7 |
1.1 |
0.0 |
0.1 |
|
Accrued expenses |
1.6 |
1.5 |
1.3 |
1.4 |
1.6 |
|
Income taxes payable |
1.1 |
2.5 |
2.3 |
0.3 |
0.0 |
|
Consumption taxes payable |
0.0 |
0.2 |
0.3 |
0.2 |
0.4 |
|
Advance received |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Deposits received |
1.0 |
1.0 |
0.7 |
0.7 |
0.6 |
|
Reserve for bonuses |
0.6 |
0.6 |
0.5 |
0.5 |
0.5 |
|
Reserve for directors' bonuses |
- |
- |
- |
- |
0.0 |
|
Notes payable-facilities |
0.2 |
1.3 |
0.1 |
0.0 |
0.6 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Total Current Liabilities |
53.4 |
35.8 |
16.6 |
10.7 |
16.4 |
|
|
|
|
|
|
|
|
Deferred tax liabilities (non-current) |
- |
0.0 |
0.3 |
0.0 |
0.6 |
|
Asset retirement obligations |
0.2 |
0.2 |
0.0 |
- |
- |
|
Provision for directors'' retirement ben |
2.9 |
2.7 |
2.3 |
2.0 |
2.2 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Total Liabilities |
56.5 |
38.6 |
19.1 |
12.7 |
19.2 |
|
|
|
|
|
|
|
|
Common stock |
30.5 |
30.3 |
26.9 |
25.5 |
25.3 |
|
Capital surplus |
28.0 |
27.8 |
24.7 |
23.3 |
23.2 |
|
Other Retained Earnings |
0.0 |
- |
- |
- |
- |
|
G.tangible fixed asset reserve |
0.1 |
0.2 |
0.1 |
0.1 |
- |
|
Legal reserve |
7.6 |
7.6 |
6.7 |
6.4 |
6.3 |
|
General reserve |
77.1 |
76.6 |
68.0 |
64.3 |
63.8 |
|
Added depreciation reserve |
- |
- |
- |
0.0 |
0.0 |
|
Deferred retained surplus |
12.6 |
9.8 |
6.2 |
3.9 |
5.2 |
|
Valuation difference on available-for-sa |
-0.3 |
-0.2 |
1.0 |
-1.2 |
1.1 |
|
Treasury stocks |
-4.5 |
-4.4 |
-3.9 |
-3.7 |
-2.6 |
|
Total Equity |
151.2 |
147.6 |
129.7 |
118.6 |
122.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
207.6 |
186.3 |
148.8 |
131.2 |
141.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
8.1 |
8.1 |
8.1 |
8.1 |
8.4 |
|
Total Common Shares Outstanding |
8.1 |
8.1 |
8.1 |
8.1 |
8.4 |
|
T/S-Common Stock |
0.8 |
0.8 |
0.8 |
0.8 |
0.6 |
|
Advance received |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Full-Time Employees |
163 |
166 |
167 |
178 |
191 |
|
Number of Common Shareholders |
346 |
340 |
349 |
369 |
383 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate (Period
Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income Bf. Tax |
7.5 |
8.3 |
5.9 |
0.5 |
4.2 |
|
Depreciation |
3.6 |
2.9 |
2.6 |
2.9 |
2.6 |
|
Assets Retire. Obligation |
0.0 |
0.2 |
0.0 |
- |
- |
|
Impairment loss |
0.0 |
1.2 |
0.1 |
0.0 |
- |
|
Increase (decrease) in allowance for dou |
-0.4 |
0.0 |
-0.1 |
0.1 |
0.0 |
|
Increase (decrease) in provision for bon |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Reserve for directors' bonuses |
- |
- |
- |
0.0 |
-0.1 |
|
Increase (decrease) in provision for dir |
0.2 |
0.1 |
0.1 |
-0.2 |
-5.0 |
|
Reversal of interest & dividend rcvd. |
-0.7 |
-0.7 |
-1.0 |
-1.2 |
-1.6 |
|
Reversal of interest expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Foreign exchange losses (gains) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Loss (gain) on valuation of investment s |
0.0 |
0.0 |
0.0 |
1.2 |
0.0 |
|
L on sale of fixed assets |
- |
- |
- |
0.0 |
- |
|
Loss on retirement of property, plant an |
0.3 |
0.1 |
0.0 |
0.0 |
0.1 |
|
G on sale of fixed assets |
- |
0.0 |
0.0 |
- |
0.0 |
|
Loss (gain) on sales of investment secur |
0.9 |
-0.5 |
-0.4 |
-0.1 |
-3.5 |
|
L on sale of LT inv't secs. |
- |
- |
- |
- |
1.7 |
|
Loss (gain) on redemption of investment |
0.0 |
-1.4 |
0.0 |
- |
- |
|
G on management of inv't unions |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
L on management of inv't unions |
- |
- |
- |
- |
0.0 |
|
Redemption of insurance |
- |
- |
- |
0.0 |
-0.3 |
|
Death insurance income |
- |
- |
- |
- |
0.0 |
|
Marginal profit in dissapearance of tie |
- |
- |
0.0 |
-0.4 |
0.0 |
|
Decrease (increase) in notes and account |
0.9 |
-2.6 |
-2.1 |
5.3 |
1.3 |
|
Decrease (increase) in inventories |
-1.1 |
-0.4 |
0.7 |
2.0 |
-0.1 |
|
Decrease (increase) in other current ass |
0.1 |
0.1 |
-0.3 |
0.1 |
-0.7 |
|
Decrease (increase) in other noncurrent |
0.2 |
0.0 |
0.0 |
0.0 |
-0.1 |
|
Increase (decrease) in notes and account |
-0.8 |
1.4 |
2.2 |
-5.0 |
-1.6 |
|
Increase (decrease) in accrued expenses |
0.1 |
0.0 |
-0.2 |
-0.2 |
-0.2 |
|
Increase (decrease) in accrued consumpti |
-0.2 |
-0.1 |
0.1 |
-0.2 |
0.3 |
|
Increase (decrease) in other current lia |
0.0 |
0.0 |
-0.1 |
0.1 |
0.0 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Other |
- |
0.0 |
0.0 |
-0.1 |
0.0 |
|
Bonuses to directors |
- |
- |
- |
- |
0.0 |
|
Interest & dividend received(cash basis) |
0.9 |
0.7 |
1.0 |
0.9 |
1.8 |
|
Income tax refund |
- |
- |
- |
0.7 |
- |
|
Income taxes (paid) refund |
-4.2 |
-3.6 |
-0.3 |
- |
-0.5 |
|
Increase due to mergers |
- |
- |
- |
0.4 |
0.0 |
|
Adjustment |
- |
- |
0.0 |
- |
- |
|
Cash from Operating Activities |
7.2 |
6.0 |
8.3 |
6.7 |
-1.7 |
|
|
|
|
|
|
|
|
Time deposit matured |
- |
- |
- |
0.0 |
5.2 |
|
Purchase of property, plant and equipmen |
-5.8 |
-3.2 |
-1.5 |
-2.7 |
-6.0 |
|
Sale of PPE |
- |
0.0 |
0.0 |
0.1 |
0.0 |
|
Purch. of intangible assets |
-0.1 |
-0.1 |
0.0 |
0.0 |
-0.1 |
|
Purch. of LT inv't secs. |
-107.8 |
-106.2 |
-36.0 |
-84.3 |
-31.5 |
|
Sale of LT inv't secs. |
15.0 |
11.2 |
38.4 |
42.9 |
41.5 |
|
Redemp. of LT inv't secs. |
119.0 |
66.5 |
26.4 |
26.4 |
2.6 |
|
Sale of closely-held inv'ts |
- |
- |
- |
- |
0.0 |
|
Redemption of investment fund |
- |
0.0 |
0.1 |
0.0 |
0.0 |
|
Insurance reserve received |
- |
0.0 |
0.2 |
1.1 |
1.9 |
|
Insurance reserve made |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Other, net |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Cash from Investing Activities |
20.3 |
-31.9 |
27.4 |
-16.5 |
13.7 |
|
|
|
|
|
|
|
|
Treasury stocks purchased |
0.0 |
0.0 |
0.0 |
-1.1 |
0.0 |
|
Dividend paid |
-1.6 |
-1.5 |
-1.4 |
-1.5 |
-1.2 |
|
Cash from Financing Activities |
-1.7 |
-1.5 |
-1.4 |
-2.6 |
-1.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
-0.1 |
|
Net Change in Cash |
25.8 |
-27.4 |
34.3 |
-12.3 |
10.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
28.4 |
53.6 |
15.1 |
26.3 |
12.4 |
|
Net Cash - Ending Balance |
54.3 |
26.2 |
49.4 |
14.0 |
23.1 |
|
Cash Taxes Paid |
4.2 |
3.6 |
0.3 |
-0.7 |
0.5 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.