MIRA INFORM REPORT
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Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
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Name : |
FUJIKURA LTD
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Registered Office : |
1-5-1, Kiba, Koto-Ku, 135-8512 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
18.03.1910 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in information and communications, electronics and
electric equipment, cable and machinery & real estate segment |
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No. of Employees : |
50463 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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.
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Source : CIA |
Company name & address
Fujikura Ltd
1-5-1, Kiba
Koto-Ku, 135-8512
Japan
Tel: 81-3-56061030
Fax: 81-3-56061503
Synthesis
Employees: 50,463
Company Type: Public
Parent
Corporate Family: 107
Companies
Traded: Tokyo
Stock Exchange: 5803
Incorporation Date: 18-Mar-1910
Auditor: Arata Auditing Firm
Financials in: USD
(Millions)
Fiscal Year End: 31-Mar-2013
Reporting Currency: Japanese
Yen
Annual Sales: 5,919.2 1
Net Income: 36.8
Total Assets: 5,621.3 2
Market Value: 1,317.6
(17-May-2013)
Business Description
Fujikura Ltd. is a Japan-based manufacture company. The Company operates
in five business segments. The Information and Communications segment offers
optical fibers, optical cables, communication parts, optical parts, optical equipment
and network equipment. The Electronics and Electric Equipment segment offers
printed circuits, electronic wires, membrane switches, connectors, hard disc
components and automobile wiring harnesses. The Cable and Machinery segment
offers power cables, communication cables, coated wires, aluminum wires, open
wires and affiliated products. The Real Estate segment is engaged in the
leasing of real estate. The Others segment is involved in the warehousing and
transportation business. As of March 31, 2012, the Company had 102 subsidiaries
and 23 associated companies. On April 1, 2013, the Company merged with a wholly
owned subsidiary. For the fiscal year ended 31 March 2013, Fujikura Ltd
revenues decreased 4% to Y491.12B. Net income applicable to common stockholders
totaled Y3.05B vs. loss of Y6.23B. Revenues reflect a decrease in demand for
the Company's products and services due to unfavorable market conditions. Net
Income reflects SP Loss on disaster decrease of 53% to Y9.33B (expense),
Insurance income increase of 29% to Y19.89B (income).
Industry
Industry Electronic Instruments and Controls
ANZSIC 2006: 2431 - Electric
Cable and Wire Manufacturing
NACE 2002: 3120 - Manufacture
of electricity distribution and control apparatus
NAICS 2002: 335931 -
Current-Carrying Wiring Device Manufacturing
UK SIC 2003: 3120 - Manufacture
of electricity distribution and control apparatus
UK SIC 2007: 2712 - Manufacture
of electricity distribution and control apparatus
US SIC 1987: 3643 -
Current-Carrying Wiring Devices
Key Executives
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Name |
Title |
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Yoichi Nagahama |
President, Representative Director |
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Yasuyuki Oda |
Manager of Corporate Planning Office |
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Toshio Onuma |
Standing Corporate Auditor |
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Toshihide Kanai |
Managing Executive Officer, President of
Subsidiary, Director |
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Takamasa Kato |
Senior Managing Executive Officer,
Representative Director |
Significant Developments
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* number of significant developments within the last 12 months
News
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financial summary
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As of 31-Mar-2013 |
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 82.97047
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 94.08855
Corporate Overview
Location
1-5-1, Kiba
Koto-Ku, 135-8512
Japan
Tel: 81-3-56061030
Fax: 81-3-56061503
Web: www.fujikura.co.jp
Quote Symbol - Exchange
5803 - Tokyo Stock
Exchange
Sales JPY(mil): 491,118.0
Assets JPY(mil): 528,900.0
Employees: 50,463
Fiscal Year End: 31-Mar-2013
Industry: Electronic
Instruments and Controls
Incorporation Date: 18-Mar-1910
Company Type: Public
Parent
Quoted Status: Quoted
President,
Representative Director:
Yoichi Nagahama
Industry Codes
ANZSIC 2006 Codes:
2431 - Electric Cable and Wire Manufacturing
2291 - Spring and Wire Product Manufacturing
6720 - Real Estate Services
2439 - Other Electrical Equipment Manufacturing
2149 - Other Basic Non-Ferrous Metal Product Manufacturing
2422 - Communication Equipment Manufacturing
NACE 2002 Codes:
3120 - Manufacture of electricity distribution and control
apparatus
3220 - Manufacture of television and radio transmitters and
apparatus for line telephony and line telegraphy
2745 - Other non-ferrous metal production
2873 - Manufacture of wire products
3162 - Manufacture of other electrical equipment not elsewhere
classified
7031 - Real estate agencies
NAICS 2002 Codes:
335931 - Current-Carrying Wiring Device Manufacturing
332618 - Other Fabricated Wire Product Manufacturing
531210 - Offices of Real Estate Agents and Brokers
334290 - Other Communications Equipment Manufacturing
331422 - Copper Wire (except Mechanical) Drawing
335999 - All Other Miscellaneous Electrical Equipment and Component
Manufacturing
US SIC 1987:
3643 - Current-Carrying Wiring Devices
3699 - Electrical Machinery, Equipment, and Supplies, Not
Elsewhere Classified
3357 - Drawing and Insulating of Nonferrous Wire
3496 - Miscellaneous Fabricated Wire Products
3669 - Communications Equipment, Not Elsewhere Classified
6531 - Real Estate Agents and Managers
UK SIC 2003:
3120 - Manufacture of electricity distribution and control
apparatus
3220 - Manufacture of television and radio transmitters and
apparatus for line telephony and line telegraphy
2745 - Other non-ferrous metal production
2873 - Manufacture of wire products
3162 - Manufacture of other electrical equipment not elsewhere
classified
7031 - Real estate agencies
UK SIC 2007:
2712 - Manufacture of electricity distribution and control
apparatus
2593 - Manufacture of wire products, chain and springs
6831 - Real estate agencies
2630 - Manufacture of communication equipment
2445 - Other non-ferrous metal production
2790 - Manufacture of other electrical equipment
Business
Description
Fujikura Ltd. is a
Japan-based manufacture company. The Company operates in five business
segments. The Information and Communications segment offers optical fibers,
optical cables, communication parts, optical parts, optical equipment and
network equipment. The Electronics and Electric Equipment segment offers
printed circuits, electronic wires, membrane switches, connectors, hard disc
components and automobile wiring harnesses. The Cable and Machinery segment
offers power cables, communication cables, coated wires, aluminum wires, open
wires and affiliated products. The Real Estate segment is engaged in the
leasing of real estate. The Others segment is involved in the warehousing and
transportation business. As of March 31, 2012, the Company had 102 subsidiaries
and 23 associated companies. On April 1, 2013, the Company merged with a wholly
owned subsidiary. For the fiscal year ended 31 March 2013, Fujikura Ltd
revenues decreased 4% to Y491.12B. Net income applicable to common stockholders
totaled Y3.05B vs. loss of Y6.23B. Revenues reflect a decrease in demand for
the Company's products and services due to unfavorable market conditions. Net
Income reflects SP Loss on disaster decrease of 53% to Y9.33B (expense),
Insurance income increase of 29% to Y19.89B (income).
More Business
Descriptions
Manufacture of
wires and cables including optical transmission and telecommunication systems,
electronic components and materials, power transmission systems, rubber and
plastic insulated cables, magnetic wires; electric and electronic components,
metal, rubber and plastic products
Optical
Transmission Systems, Network Systems, Electronics Materials, Power Systems,
Coated Wires, Magnet Wires, Electronic Materials for Equipment & Metallic Materials
Mfr
Fujikura Ltd.
(Fujikura) involves in manufacturing electric wire and cables. The company’s
products include optical transmission systems, network systems, electronics
materials, power systems, coated wires, magnet wires, electronic materials for
equipment, metallic materials and others. Fujikura operates its business in
five reportable segments, namely, Telecommunications, Electronics & Auto,
Metal Cable & Systems, Real Estate and Others. In the Telecommunications
segment, the company involves in providing optical fiber cables and optical
components to the communication industry. It specializes in developing and
commercializing optical fusion splicers that are used for connecting fiber
cores. The products of this segment include optical fiber and optical fiber
cables, optical connectors and connection components, optical devices, optical
fusion splicers, optical network monitoring systems, optical transmission
equipment, optical wiring systems and telecommunications-related installation
projects. For the fiscal year ended 2011, the company reported revenue of
JPY112,551m for the Telecommunications segment, reflecting an increase of 4.8%
over revenue in 2010. The segment accounted for 21% of the company’s total
revenue in 2011.Through the Electronics & Auto segment, the company
involves in providing global wiring solution. It offers Flexible Printed
Circuits (FPC) technology that helps in miniaturization in digital cameras and
mobile phones to a variety of other products, including electronic wiring, HDD
components, membrane switches, semiconductor package products and thermal
products such as micro heat pipes, heat sinks, vapor chambers and other modular
products to the digital consumer appliance and electronic equipment industries.
It also produces micro coaxial cables that are used in the pivot parts of
mobile phones and other products. or the fiscal year ended 2011, the company
reported revenue of JPY195,227m for the Electronics & Auto segment,
reflecting an decrease of 6.4% over revenue in 2010. The segment accounted for
36.6% of the company’s total revenue in 2011.The company's Metal Cable &
Systems segment provides plant instrumentation cable, coaxial cable and
telecommunications cable for telephone use. It also offers ultrahigh voltage underground
and submarine transmission cable, overhead power and ground wiring
incorporating optical fiber, overhead power transmission networks for electric
power companies. It specializes in providing electric wire and cables, that
include power and control cables used inside buildings and factories and
industrial appliance wire, as well as the electric wire and cables used in
elevators, shipping, rail transportation and various other industrial
applications. For the fiscal year ended 2011, the company reported revenue of
JPY198,073m for the Metal Cable & Systems segment, reflecting an increase
of 11.5% over revenue in 2010. The segment accounted for 37% of the company’s
total revenue in 2011. Through the Real Estate segment, the company deals with real
estate, and rentals of commercial properties. The company have been
redeveloping the 70,000 m2 former site of the Fujikura plant in Kiba, Koto-ku,
Tokyo, into a zone made up of office buildings, a shopping mall, a cinema
complex, a fitness club and restaurants. For the fiscal year ended 2011, the
company reported revenue of JPY11,462m for the Real Estate segment, reflecting
an increase of 59% over revenue in 2010. The segment accounted for 2% of the
company’s total revenue in 2011. In the Others segment, the company includes
a Fujikura plant site at Kiba, that has been redeveloped into an integrated
urban complex that includes office buildings, shopping mall, a cinema complex,
fitness club and restaurants. It specializes in real estate, logistics, storage,
and other non-core activities. For the fiscal year ended 2011, the company
reported revenue of JPY14,854m for the Others segment, reflecting an increase
of 31.5% over revenue in 2010. The segment accounted for 2.7% of the
company’s total revenue in 2011. Geographically, the company operates through
three regions, namely, Japan, Asia, and Others. For the fiscal year ended 2010,
the Japan segment accounted for 59% of the company’s total revenue, followed
by Asia with 25.5%, and Others with 15%.In June 2011, the company collaborated
with FlipChip International, LLC of Phoenix, Arizona US on next generation
semiconductor packaging technology.
Fujikura Ltd.
(Fujikura) is Japanese-based leading manufacturers of electric wire and cables.
The company involves in manufacturing wide range of optical transmission
systems, network systems, electronics materials, power systems, coated wires,
magnet wires, electronic materials for equipment, metallic materials and
others. It also develops a shopping mall, fitness club, cinema complex, office
buildings, and restaurants. The company operates its business through four
reportable segments, namely, Telecommunications, Electronics & Auto, Metal
Cable & Systems and Others. Its product development is concentrated in the
areas of fiber optics, information and communications, electronics, electric
power, and energy. The company has its operations in the US, the UK, Singapore,
Malaysia, Thailand, China, Vietnam, India and Russia. Fujikura is headquartered
in Tokyo, Japan.The company reported revenues of (Yen) JPY 509,081.00 million
during the fiscal year ended March 2012, a decrease of 2.44% from 2011. The
operating profit of the company was JPY 13.00 million during the fiscal year
2012, a decrease of 99.90% from 2011. The net loss of the company was JPY
6,231.00 million during the fiscal year 2012, as against a net profit of JPY
9,383.00 million during 2011.
Communication and
Energy Wire and Cable Manufacturing
Brand/Trade Names
Fujikura
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Strategic Initiatives
Partnerships
This growth in Asian automobile industry is set to offer opportunities of growth for the company.Strategic Partnerships and AgreementsFujikura's focus on strategic agreements could create significant growth opportunities for the company. In June 2011, the company collaborated with FlipChip International, LLC of Phoenix. This collaboration will help the company to development and commercialization next generation semiconductor packaging including flexible substrate based embedded die, Fan-Out packages, and high density 3D interposer technologies. In July 2010, the company entered in to a joint venture agreement with Shanghai Grandway Telecom Tech. Co.
Product
Substantial increase in profitability ratios indicates that the company performed well and would be able to deliver value as expected by its shareholders. Such a strong financial performance would enhance the company’s expansion plans and growth.Strong Research & Development OperationsA strong R&D arm provides the company an edge over its competitors while launching innovative products in the markets. The company’s R&D strategy focuses on the integration of optical/wireless and electronics. It devotes R&D efforts to next-generation product development for the information and telecommunications fields of NGN, FTTx, optical interconnection, photonics and Medicare application technologies, as well as the electronics and electronic component fields of precision circuit, multilayer FPC or board, precision connector, membrane switch module, switch module assembling, thermal solution and light guided illumination technologies. During the fiscal 2011, the company invested JPY 7830.00 million in research and development.
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities |
Threats |
Overview
Fujikura Ltd.
(Fujikura) engaged in manufacturing electric wire and cables. The company’s
products include optical transmission systems, network systems, electronics
materials, power systems, coated wires, magnet wires, electronic materials for
equipment, metallic materials and others. The company’s strong research and
development activities and its diversified product lines are its major
strengths, even as the legal proceedings remains an area of concern. Going
forward, the company’s exposure to rapid technological changes and
regulations may impact its performance. However, growing auto mobile industry
in China and India and New subsidiary establishment could present new growth
opportunities for the company.
Strengths
Extensive Product Offerings
The company boasts
of wide product portfolio that helps it cater to the needs of a diversified customer
base. Fujikura is engaged in manufacturing optical transmission systems,
network systems, electronics materials, power systems, coated wires, magnet
wires, electronic materials for equipment, metallic materials and others. The
company’s Telecommunications segment offers Optical fiber and optical fiber
cables, optical connectors and connection components, optical devices, optical
fusion splicers, optical network monitoring systems, optical transmission
equipment, optical wiring systems and telecommunications-related installation
projects. The Electronics & Auto segment is engaged in offering FPCs,
connectors, automotive wire harnesses, automotive components, sensors,
electronic wiring, HDD components, micro heat pipes and heat sinks. The Metal
Cable & Systems segment offers Industrial cables, metal telecommunications
cables, overhead power transmission cables, distribution cables,
ultra-high-voltage power cables, magnet wires, various cable accessory products
and cable installation works. During the fiscal 2011, the telecommunication
segment contributed 21% to the total sale, electronics and auto 36%, metal
cable and systems 37%, real estate contributed2% and others 2%. The wide
product portfolio helps the company serve various industries and thus, reduce
the impact of market instability.
Strong Financial Performance
Fujikura reported
strong financial performance for the fiscal year ended March 2011, reflecting
its ability to fulfill operational and business expansion needs. The company
reported revenue of JPY52,1832m for the fiscal year ended March 2011,
indicating an increase of 3.6% over revenue in 2010. The company posted
operating profit of JPY1275m for the fiscal year ended March 2011, reflecting
an increase of 45.5% over operating profit in 2010. The company recorded net
profit of JPY9383m during the fiscal year ended 2011, indicating an increase of
265% over net profit in 2010. The increase in the operating and net profit
improved the company’s profitability. The operating margin of the company
increased to 2% in 2011 from 1% in 2010. The company’s return on equity
increased to 5% in 2011 from 1% in 2010. Its return on assets and return on
fixed assets increased to 1% and 5% in 2011 from 0% and 3% respectively in
2010. The company’s return on capital employed increased to 4% in 2011 from
2% in 2010. Substantial increase in profitability ratios indicates that the
company performed well and would be able to deliver value as expected by its
shareholders. Such a strong financial performance would enhance the company’s
expansion plans and growth.
Strong Research
& Development Operations
A strong R&D
arm provides the company an edge over its competitors while launching
innovative products in the markets. The company’s R&D strategy focuses on
the integration of optical/wireless and electronics. It devotes R&D efforts
to next-generation product development for the information and
telecommunications fields of NGN, FTTx, optical interconnection, photonics and
Medicare application technologies, as well as the electronics and electronic
component fields of precision circuit, multilayer FPC or board, precision
connector, membrane switch module, switch module assembling, thermal solution
and light guided illumination technologies. During the fiscal 2011, the company
invested JPY 7830.00 million in research and development. The company's strong
R & D efforts helped it to develop one of world’s most miniaturized
absolute pressure sensors which contain a signal conditioning circuit with
temperature compensation. The extensive R&D efforts help the company
increase its productivity and innovate new products and ensure a new source of
revenues.
Weaknesses
Legal proceedings
Legal proceedings
incur additional costs to the company, and if proven guilty will result in huge
penalties that will adversely affect its profitability. The company is subject
to certain lawsuits and regulatory proceedings. In January 2010, VISCAS
Corporation, an equity method affiliate of Fujikura Ltd. received a cease and
desist order and surcharge payment order from Japan Fair Trade Commission on a
charge of violation of Antimonopoly Law regarding the case of power cable
trades. These kind of litigation against the company will dent its reputation
and could also affect its future business.
Opportunities
New Subsidiary
Fujikura
established a new subsidiary, Fujikura Electronics Thailand Ltd. (FETL) which
could create significant growth opportunities for the company. The company
established new subsidiary by the merger of six subsidiaries, namely, Fujikura
(Thailand) Ltd., PCTT Ltd., LTEC Ltd., Fujikura Engineering (Thailand) Ltd.,
FMOT Ltd., and Fujikura Shoji (Thailand)Co., Ltd. This merger will help the
company to have major manufacturing facilities and also to strengthen
competitive edge of its technologies and cost controls in the electronics and
automotive businesses.
Growth in Asian Automobile Industry
The automobile
industry in Asia is expected to witness enormous growth. The Indian automotive
industry is predicted to grow at 13% per annum totaling about USD 120-159
billion by 2016. It is also expected that there will be an increase in terms of
volume and it would reach 31.96 million units by 2015. In addition, passenger
vehicles’ sales are projected to grow to 2.65 million vehicles by 2015
According to The World Bank, overall global GDP is projected at 2.7% in 2011,
with 5.2% growth rate in developing economies. This growth in Asian automobile
industry is set to offer opportunities of growth for the company.
Strategic Partnerships and Agreements
Fujikura's focus
on strategic agreements could create significant growth opportunities for the
company. In June 2011, the company collaborated with FlipChip International,
LLC of Phoenix. This collaboration will help the company to development and
commercialization next generation semiconductor packaging including flexible
substrate based embedded die, Fan-Out packages, and high density 3D interposer
technologies. In July 2010, the company entered in to a joint venture agreement
with Shanghai Grandway Telecom Tech. Co., Ltd. for optical wiring equipment for
optical networks, including equipment for FTTH, mainly targeting the Chinese
market, and recently signed an agreement to that effect. This joint venture
will help the company to expand optical wiring equipment business in Chinese
market. In the same month the company entered in to a joint venture agreement
with FiberHome Telecommunication Technologies Co., Ltd. for optical cables.
This joint venture will help the company to expand optical cable business
across the world. These agreements would enhance the company's offerings as
well as helps in market penetration and market development.
Threats
Risks Associated
with International Business
The company
operates its business across several sectors, namely, Telecommunications,
Electronics & Auto, Metal Cable & Systems, Real Estate and Others.
Also, Fujikura has its operations in various regions apart from Japan including
America, Asia (excluding Japan) and Europe. Its business could be exposed to
several risks including changes in laws, regulatory changes, and also on
industry-specific and region-specific changes. Since the majority of
Fujikura’s offerings are targeted at end-user goods, and systems used in
infrastructure, fluctuations in consumer spending would have an adverse affect
on its business.
Stringent
Regulations
The changing
environmental regulations could have major impact on the company’s business.
The company’s operations are subjected to the Kyoto Protocol treaty. The treaty
is intended to achieve reduction of greenhouse gas concentrations in the
atmosphere at a level that would prevent dangerous anthropogenic interference
with the climate system. Japan is subjected to the daunting task of cutting
down the greenhouse gases by 14% till 2012. This emission target for Japan was
6% and 8% for European Union. The emission target was increased to 8% for Japan
from the base year 1990. If these regulations become more stringent in the near
future, then the operations of the company will be adversely affected.
Highly Competitive Market
Fujikura operates
in highly competitive and fragmented markets, which may affect its market
position and operations. The competitive factors in the industry include the
price, quality, service, and product innovation. Fujikura competes with major
industries such as Sumitomo Electric Industries, Ltd., Matsushita Electric
Works, Ltd., Hitachi, Ltd. and others, which enjoy greater sales, assets and
financial resources. If the company is not able to maintain the product quality
and consumer loyalty, this intense competition could reduce the sales volume of
the company, and thereby hamper its market position. Hence, the company should
take timely measures to improve its manufacturing capabilities while reducing
costs, and continue to focus on streamlining its operating system to raise the
market positioning in overseas markets, in order to survive the competition.
Rapid Technological
Changes
The company's
offerings are characterized by rapid technology changes, which may affect its
business operations. To compete effectively with its peers, the company should
continually introduce new products that meet and exceed the customers’
requirements. The introduction of products using new technologies or the adoption
of new industry standards can make existing products, or products under
development, obsolete or unmarketable. Inability to study the evolving
technological landscape may impact the company’s competitive position.
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Corporate Family |
Corporate Structure News: |
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Fujikura Ltd |
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Fujikura Ltd |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Koto-Ku |
Japan |
Electronic Instruments and Controls |
5,919.2 |
50,463 |
|
|
Subsidiary |
Pathumthani |
Thailand |
Electronic Instruments and Controls |
|
26,000 |
|
|
Facility |
Ayutthaya |
Thailand |
Electronic Instruments and Controls |
|
2,000 |
|
|
Facility |
Khlong Luang, Pathumthani |
Thailand |
Electronic Instruments and Controls |
|
300 |
|
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Fujikura
Electronics (Thailand) Ltd. - Prachinburi Factory 1 |
Facility |
Prachin Buri |
Thailand |
Electronic Instruments and Controls |
|
|
|
Facility |
Lamphun |
Thailand |
Electronic Instruments and Controls |
|
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Facility |
Khlong Luang, Pathumthani |
Thailand |
Electronic Instruments and Controls |
|
|
|
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Subsidiary |
Duncan, SC |
United States |
Miscellaneous Fabricated Products |
|
2,000 |
|
|
Unit |
Duncan, SC |
United States |
Miscellaneous Fabricated Products |
|
2,600 |
|
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Branch |
Belmont, NH |
United States |
Miscellaneous Fabricated Products |
3.5 |
60 |
|
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Subsidiary |
Birmingham, AL |
United States |
Business Services |
4.3 |
45 |
|
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Subsidiary |
Tukwila, WA |
United States |
Miscellaneous Fabricated Products |
|
35 |
|
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Subsidiary |
North Grafton, MA |
United States |
Miscellaneous Fabricated Products |
4.6 |
30 |
|
|
Branch |
Irvine, CA |
United States |
Communications Services |
3.3 |
9 |
|
|
Subsidiary |
Duncan, SC |
United States |
Communications Services |
|
9 |
|
|
Branch |
Newark, DE |
United States |
Communications Services |
26.0 |
70 |
|
|
Branch |
Duluth, GA |
United States |
Communications Services |
11.1 |
30 |
|
|
Branch |
Afton, NY |
United States |
Business Services |
4.8 |
26 |
|
|
Branch |
Irmo, SC |
United States |
Communications Services |
3.3 |
20 |
|
|
Branch |
New York, NY |
United States |
Electronic Instruments and Controls |
29.5 |
12 |
|
|
Branch |
Davie, FL |
United States |
Business Services |
1.6 |
12 |
|
|
Branch |
Monroe, NC |
United States |
Business Services |
1.5 |
12 |
|
|
Branch |
Harpursville, NY |
United States |
Business Services |
2.0 |
11 |
|
|
Branch |
Columbia, SC |
United States |
Communications Services |
3.7 |
10 |
|
|
Branch |
Ridgeland, MS |
United States |
Business Services |
1.4 |
10 |
|
|
Branch |
Dallas, TX |
United States |
Communications Services |
3.3 |
9 |
|
|
Branch |
Melville, NY |
United States |
Communications Services |
3.3 |
9 |
|
|
Branch |
West Unity, OH |
United States |
Communications Services |
3.3 |
9 |
|
|
Branch |
Columbia, SC |
United States |
Communications Services |
3.3 |
9 |
|
|
Branch |
Creve Coeur, MO |
United States |
Business Services |
0.9 |
8 |
|
|
Branch |
Sparks, NV |
United States |
Communications Services |
2.6 |
7 |
|
|
Branch |
Duncan, SC |
United States |
Communications Services |
2.2 |
6 |
|
|
Branch |
Birmingham, AL |
United States |
Communications Services |
1.9 |
5 |
|
|
Branch |
Columbus, MS |
United States |
Communications Services |
1.9 |
5 |
|
|
Branch |
Sacramento, CA |
United States |
Electronic Instruments and Controls |
7.7 |
3 |
|
|
Branch |
Warrenton, VA |
United States |
Business Services |
0.5 |
3 |
|
|
Branch |
Tualatin, OR |
United States |
Business Services |
1.1 |
2 |
|
|
Branch |
Washington, DC |
United States |
Business Services |
0.7 |
2 |
|
|
Branch |
Southampton, PA |
United States |
Communications Services |
0.4 |
1 |
|
|
Branch |
Interlochen, MI |
United States |
Business Services |
0.1 |
1 |
|
|
Branch |
Jackson, NJ |
United States |
Communications Services |
0.4 |
1 |
|
|
Branch |
Bloomfield, CT |
United States |
Communications Services |
0.4 |
1 |
|
|
Unit |
Belmont, NH |
United States |
Miscellaneous Fabricated Products |
|
70 |
|
|
Unit |
Swindon |
United Kingdom |
Miscellaneous Fabricated Products |
|
60 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Electronic Instruments and Controls |
441.2 |
1,500 |
|
|
Subsidiary |
Binh Duong |
Viet Nam |
Textiles - Non Apparel |
69.7 |
1,500 |
|
|
Subsidiary |
Tangerang |
Indonesia |
Miscellaneous Fabricated Products |
144.6 |
577 |
|
|
Subsidiary |
Tokyo |
Japan |
Electronic Instruments and Controls |
|
550 |
|
|
Subsidiary |
Ben Cat, Binh Duong |
Viet Nam |
Electronic Instruments and Controls |
|
|
|
|
Facility |
Mooka, Tochigi |
Japan |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Shanghai |
China |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Hirosaki, Aomori |
Japan |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Wujiang, Jiangsu |
China |
Electronic Instruments and Controls |
|
500 |
|
|
Subsidiary |
Butterworth, Penang |
Malaysia |
Miscellaneous Fabricated Products |
|
490 |
|
|
Subsidiary |
Akita, Akita |
Japan |
Electronic Instruments and Controls |
125.4 |
470 |
|
|
Subsidiary |
Uthai, Phra Nakhon Si Ayutthaya |
Thailand |
Computer Peripherals |
|
350 |
|
|
Subsidiary |
Macedonia, OH |
United States |
Fabricated Plastic and Rubber |
49.6 |
200 |
|
|
Subsidiary |
Kamikita-Gun, Aomori |
Japan |
Miscellaneous Fabricated Products |
35.0 |
185 |
|
|
Subsidiary |
Puebla De Alfinden, Zaragoza |
Spain |
Electronic Instruments and Controls |
174.7 |
156 |
|
|
Subsidiary |
Cluj-Napoca |
Romania |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Shah Alam, Selangor |
Malaysia |
Construction - Supplies and Fixtures |
|
125 |
|
|
Subsidiary |
Ichikawa, Chiba |
Japan |
Communications Equipment |
86.6 |
76 |
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Construction Services |
27.8 |
70 |
|
|
Subsidiary |
Yamaga, Kumamoto |
Japan |
Communications Equipment |
84.7 |
69 |
|
|
Subsidiary |
Singapore |
Singapore |
Electronic Instruments and Controls |
137.4 |
49 |
|
|
Division |
Singapore |
Singapore |
Electronic Instruments and Controls |
|
50 |
|
|
Subsidiary |
Hickory, NC |
United States |
Miscellaneous Fabricated Products |
8.4 |
43 |
|
|
Subsidiary |
Duncan, SC |
United States |
Communications Equipment |
14.0 |
40 |
|
|
Subsidiary |
Shanghai |
China |
Miscellaneous Fabricated Products |
|
40 |
|
|
Subsidiary |
Chessington |
United Kingdom |
Electronic Instruments and Controls |
75.3 |
36 |
|
|
Division |
Chessington |
United Kingdom |
Miscellaneous Fabricated Products |
|
|
|
|
Fujikura
Europe Ltd. - Plant & Infrastructure Cables Division |
Division |
Chessington |
United Kingdom |
Miscellaneous Fabricated Products |
|
|
|
Joint Venture |
Bridgewater, NJ |
United States |
Miscellaneous Fabricated Products |
14.5 |
25 |
|
|
Subsidiary |
Novi, MI |
United States |
Electronic Instruments and Controls |
|
25 |
|
|
Subsidiary |
Anyang, Kyunggido |
Korea, Republic of |
Auto and Truck Parts |
|
21 |
|
|
Subsidiary |
Shanghai, Pudong |
China |
Advertising |
72.0 |
20 |
|
|
Subsidiary |
Singapore |
Singapore |
Construction - Supplies and Fixtures |
|
15 |
|
|
Subsidiary |
Petaling Jaya, Selangor |
Malaysia |
Retail (Specialty) |
81.5 |
10 |
|
|
Subsidiary |
Eagan, MN |
United States |
Miscellaneous Capital Goods |
11.6 |
8 |
|
|
Subsidiary |
Santa Clara, CA |
United States |
Electronic Instruments and Controls |
|
7 |
|
|
Branch |
Raleigh, NC |
United States |
Electronic Instruments and Controls |
4.7 |
2 |
|
|
Division |
Santa Clara, CA |
United States |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Beijing |
China |
Miscellaneous Fabricated Products |
|
5 |
|
|
Subsidiary |
Santa Clara, CA |
United States |
Communications Equipment |
|
4 |
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Personal and Household Products |
740.4 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Electronic Instruments and Controls |
547.1 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Electronic Instruments and Controls |
399.8 |
|
|
|
Subsidiary |
Mooka, Tochigi |
Japan |
Electronic Instruments and Controls |
319.3 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Real Estate Operations |
138.6 |
|
|
|
Subsidiary |
Sakura, Chiba |
Japan |
Electronic Instruments and Controls |
93.0 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Miscellaneous Transportation |
74.8 |
|
|
|
Subsidiary |
Kumagaya, Saitama |
Japan |
Computer Hardware |
65.6 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Electronic Instruments and Controls |
39.6 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Software and Programming |
29.2 |
|
|
|
Subsidiary |
Zhuhai, Guangdong |
China |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Shanghai |
China |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Kowloon |
Hong Kong |
Retail (Technology) |
|
|
|
|
Division |
Kowloon |
Hong Kong |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Cluj-Napoca |
Romania |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Piedras Negras |
Mexico |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Shinshiro, Aichi |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Yonezawa, Yamagata |
Japan |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Wolfsburg |
Germany |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Dusseldorf |
Germany |
Electronic Instruments and Controls |
|
|
|
|
Division |
Chessington |
United Kingdom |
Miscellaneous Fabricated Products |
|
|
|
|
Division |
Chessington |
United Kingdom |
Electronic Instruments and Controls |
|
|
Competitors Report
|
Company Name |
Location |
Employees |
Ownership |
|
Alps Electric Co Ltd |
Ota-Ku, Japan |
36,148 |
Public |
|
Anixter International Inc. |
Glenview, Illinois, United States |
8,300 |
Public |
|
Furukawa Electric Co Ltd |
Chiyoda-Ku, Japan |
45,425 |
Public |
|
Japan Aviation Electronics Industry Ltd |
Shibuya-Ku, Japan |
5,404 |
Public |
|
Murata Manufacturing Co., Ltd. |
Nagaokakyo-Shi, Japan |
36,967 |
Public |
|
Sumitomo Electric Industries Ltd |
Osaka, Japan |
194,734 |
Public |
|
Taiyo Yuden Co Ltd |
Taito-Ku, Japan |
16,194 |
Public |
Executive report
Board of Directors
|
|
|
|
||||||||
|
Managing Executive Officer, President of Subsidiary, Director |
Director/Board Member |
|
||||||||
|
|||||||||||
|
Senior Managing Executive Officer, Representative Director |
Director/Board Member |
|
|
|||||||
|
|||||||||||
|
Managing Executive Officer, Director |
Director/Board Member |
|
|
|||||||
|
|||||||||||
|
Managing Executive Officer, Director |
Director/Board Member |
|
|
|||||||
|
|||||||||||
|
President, Representative Director |
Director/Board Member |
|
|
|||||||
|
|||||||||||
|
Managing Executive Officer, Director of Optical Equipment and System
Business, Director |
Director/Board Member |
|
|
|||||||
|
|||||||||||
|
Senior Managing Executive Officer, Representative Director |
Director/Board Member |
|
|
|||||||
|
|||||||||||
|
Managing Executive Officer, Chairman of Subsidiary, Director |
Director/Board Member |
|
|
|||||||
|
|||||||||||
|
Executives |
|
|
|
|
|||||||||
|
President, Representative Director |
President |
|
|||||||||
|
||||||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer, President of Subsidiary, Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Senior Managing Executive Officer, Representative Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer, Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer, Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer, Director of Optical Equipment and System
Business, Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Senior Managing Executive Officer, Representative Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer, Chairman of Subsidiary, Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Standing Corporate Auditor |
Accounting Executive |
|
|
||||||||
|
Corporate Auditor |
Accounting Executive |
|
|
||||||||
|
Corporate Auditor |
Accounting Executive |
|
|
||||||||
|
Standing Corporate Auditor |
Accounting Executive |
|
|
||||||||
|
Manager of Corporate Planning Office |
Investor Relations Executive |
|
|
||||||||
Significant Developments
Fujikura Ltd Announces Outcome of Early Retirement Program; Expects Extraordinary Loss for FY 2013 Apr 26, 2013
Fujikura Ltd announced that 106 of its employees have taken up the offer of an early retirement program, which was disclosed on February 4, 2013. The employees who took up the offer will retire on April 26, 2013. The Company is expecting an extraordinary loss of JPY 2.9 billion due to this development, for the fiscal year ended March 2013.
Fujikura Ltd Completes Share Repurchase Plan Apr 16, 2013
Fujikura Ltd announced that it has completed its share repurchase plan announced on February 26, 2013, to repurchase up to 10,000,000 shares (2.88% stake) of its common stock. The Company repurchased 10,000,000 shares of its common stock for JPY 3,052,084,960 in total, during the period from February 27, 2013 to April 12, 2013.
Fujikura Ltd Repurchases Shares Feb 26, 2013
Fujikura Ltd announced that it has decided to repurchase up to 10,000,000 shares (2.88% stake) or up to JPY 3,500,000,000 of its common stock, during the period from February 27, 2013 to April 30, 2013.
Fujikura Ltd to Merge with Wholly Owned Subsidiary-EDINET Feb 26, 2013
EDINET reported that Fujikura Ltd will merge with its wholly owned subsidiary FUJIKURA DEVELOPMENT INC., effective April 1, 2013. After the merger, FUJIKURA DEVELOPMENT will be dissolved.
Fujikura Ltd Lowers Consolidated Full-year Outlook for FY 2013 Feb 04, 2013
Fujikura Ltd announced that it has lowered its consolidated full-year outlook for revenue from JPY 500,000 million to JPY 490,000 million, operating profit from JPY 8,000 million to JPY 7,000 million, ordinary profit from JPY 4,500 million to JPY 2,500 million, net profit from JPY 2,000 million to JPY 0 million and earning per share from JPY 5.59 to JPY 0.00, for the fiscal year ending March 2013. This sis due to the decreased sales and the increased investment profit, among others.
Fujikura Ltd to Offer Early-retirement Program Feb 04, 2013
Fujikura Ltd announced that it plans to offer an early-retirement program to its management employees, who are above 40 years old. The early-retirement program, which will be offered during the period from March 11, 2013 to March 22, 2013, will include severance pay and outplacement support. The Company expects approximately 100 employees to take up the offer and the employees who take the offer will retire on April 26, 2013.
Fujikura Ltd to Apply for Delisting Stock from OSE Feb 04, 2013
Fujikura Ltd announced that it has decided to apply for delisting its stock from the Osaka Securities Exchange (OSE), in order to reduct cost. The application will be submitted on February 5, 2013.
Fujikura Ltd Amends Full-year Consolidated Outlook for FY 2013 Oct 29, 2012
Fujikura Ltd announced that it has reaffirmed its full-year consolidated outlook for revenue of JPY 500,000 million, and lowered its full-year consolidated outlook for operating profit from JPY 13,000 million to JPY 8,000 million, ordinary profit from JPY 9,000 million to JPY 4,500 million, net profit from JPY 4,000 million to JPY 2,000 million, and earnings per share from JPY 11.09 to JPY 5.59, for the fiscal year ending March 31, 2013. The Company lowered its full-year consolidated outlook for operating profit, ordinary profit and net profit mainly due to the competition in information communications business and electronic and electrical business. According to I/B/E/S Estimates, analysts on average are expecting the Company to report its full-year consolidated outlook for revenue of JPY 495,490 million, operating profit of JPY 12,440 million and net profit of JPY 3,880 million, for the same fiscal year.
Fujikura Ltd Repurchases shares Sep 05, 2012
Fujikura Ltd. announced that it has repurchased 6,127,000 shares of its common stock for JPY 1,488,930,992 in total, during the period from August 1, 2012 to August 31, 2012. This was part of its share repurchase plan announced on July 30, 2012, to repurchase up to 10,000,000 shares(2.77% stake) of its common stock.
Fujikura Ltd. to Repurchase Shares Jul 30, 2012
Fujikura Ltd. announced that it has decided to repurchase up to 10,000,000 shares(2.77% stake) of its common stock for up to JPY 3,000,000,000 in total, during the period from July 31, 2012 to December 21, 2012.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
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) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
|
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
5,919.2 |
6,447.2 |
6,089.7 |
5,417.7 |
5,708.9 |
|
Revenue |
5,919.2 |
6,447.2 |
6,089.7 |
5,417.7 |
5,708.9 |
|
Total Revenue |
5,919.2 |
6,447.2 |
6,089.7 |
5,417.7 |
5,708.9 |
|
|
|
|
|
|
|
|
Cost of Revenue |
5,002.8 |
5,425.4 |
5,096.7 |
4,495.6 |
4,949.0 |
|
Cost of Revenue, Total |
5,002.8 |
5,425.4 |
5,096.7 |
4,495.6 |
4,949.0 |
|
Gross Profit |
916.4 |
1,021.8 |
993.0 |
922.1 |
759.9 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
490.3 |
415.8 |
366.9 |
340.3 |
389.0 |
|
Labor & Related Expense |
347.8 |
347.3 |
317.0 |
287.1 |
284.9 |
|
Total Selling/General/Administrative Expenses |
838.1 |
763.1 |
683.9 |
627.5 |
674.0 |
|
Research & Development |
- |
89.2 |
91.4 |
82.1 |
83.6 |
|
Depreciation |
- |
- |
20.6 |
19.5 |
- |
|
Depreciation/Amortization |
- |
- |
20.6 |
19.5 |
- |
|
Restructuring Charge |
34.9 |
26.3 |
2.2 |
6.9 |
17.9 |
|
Impairment-Assets Held for Use |
9.7 |
41.9 |
9.6 |
17.4 |
117.5 |
|
Impairment-Assets Held for Sale |
- |
- |
15.2 |
8.2 |
11.5 |
|
Other Unusual Expense (Income) |
-100.4 |
101.1 |
21.6 |
66.4 |
-37.1 |
|
Unusual Expense (Income) |
-55.8 |
169.3 |
48.6 |
98.9 |
109.7 |
|
Total Operating Expense |
5,785.1 |
6,447.1 |
5,941.2 |
5,323.6 |
5,816.3 |
|
|
|
|
|
|
|
|
Operating Income |
134.1 |
0.2 |
148.5 |
94.1 |
-107.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-37.1 |
-43.1 |
-34.5 |
-31.3 |
-37.6 |
|
Interest Expense, Net Non-Operating |
-37.1 |
-43.1 |
-34.5 |
-31.3 |
-37.6 |
|
Interest Income -
Non-Operating |
1.8 |
3.4 |
2.3 |
3.6 |
5.2 |
|
Investment Income -
Non-Operating |
15.6 |
30.9 |
50.7 |
42.6 |
62.5 |
|
Interest/Investment Income - Non-Operating |
17.3 |
34.3 |
53.0 |
46.2 |
67.6 |
|
Interest Income (Expense) - Net Non-Operating Total |
-19.8 |
-8.9 |
18.5 |
14.9 |
30.0 |
|
Gain (Loss) on Sale of Assets |
-13.1 |
0.2 |
18.1 |
0.4 |
1.6 |
|
Other Non-Operating Income (Expense) |
-30.0 |
-33.7 |
-16.5 |
-19.6 |
-19.8 |
|
Other, Net |
-30.0 |
-33.7 |
-16.5 |
-19.6 |
-19.8 |
|
Income Before Tax |
71.2 |
-42.2 |
168.6 |
89.8 |
-95.6 |
|
|
|
|
|
|
|
|
Total Income Tax |
30.6 |
30.7 |
59.7 |
57.4 |
103.6 |
|
Income After Tax |
40.6 |
-72.9 |
108.9 |
32.4 |
-199.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-3.8 |
-6.0 |
0.6 |
-4.7 |
10.0 |
|
Net Income Before Extraord Items |
36.8 |
-78.9 |
109.5 |
27.6 |
-189.3 |
|
Net Income |
36.8 |
-78.9 |
109.5 |
27.6 |
-189.3 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
36.7 |
-78.9 |
109.5 |
27.6 |
-189.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
36.7 |
-78.9 |
109.5 |
27.6 |
-189.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
352.4 |
360.5 |
360.6 |
360.6 |
360.6 |
|
Basic EPS Excl Extraord Items |
0.10 |
-0.22 |
0.30 |
0.08 |
-0.52 |
|
Basic/Primary EPS Incl Extraord Items |
0.10 |
-0.22 |
0.30 |
0.08 |
-0.52 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
36.7 |
-78.9 |
109.5 |
27.6 |
-189.3 |
|
Diluted Weighted Average Shares |
352.4 |
360.5 |
360.6 |
360.6 |
360.6 |
|
Diluted EPS Excl Extraord Items |
0.10 |
-0.22 |
0.30 |
0.08 |
-0.52 |
|
Diluted EPS Incl Extraord Items |
0.10 |
-0.22 |
0.30 |
0.08 |
-0.52 |
|
Dividends per Share - Common Stock Primary Issue |
0.06 |
0.06 |
0.07 |
0.05 |
0.07 |
|
Gross Dividends - Common Stock |
- |
22.8 |
25.2 |
19.4 |
26.9 |
|
Interest Expense, Supplemental |
37.1 |
43.1 |
34.5 |
31.3 |
37.6 |
|
Depreciation, Supplemental |
297.0 |
308.1 |
302.2 |
283.9 |
298.1 |
|
Total Special Items |
-27.6 |
175.8 |
35.1 |
102.2 |
119.5 |
|
Normalized Income Before Tax |
43.6 |
133.6 |
203.7 |
192.0 |
23.9 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-18.4 |
59.2 |
10.8 |
34.5 |
37.8 |
|
Inc Tax Ex Impact of Sp Items |
12.3 |
89.9 |
70.5 |
91.9 |
141.5 |
|
Normalized Income After Tax |
31.3 |
43.7 |
133.2 |
100.1 |
-117.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
27.5 |
37.7 |
133.8 |
95.3 |
-107.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.08 |
0.10 |
0.37 |
0.26 |
-0.30 |
|
Diluted Normalized EPS |
0.08 |
0.10 |
0.37 |
0.26 |
-0.30 |
|
Amort of Acquisition Costs, Supplemental |
15.1 |
6.7 |
4.6 |
3.7 |
11.4 |
|
Research & Development Exp, Supplemental |
- |
184.7 |
162.5 |
145.2 |
149.2 |
|
Reported Operating Profit |
78.3 |
169.5 |
197.1 |
193.0 |
2.3 |
|
Reported Ordinary Profit |
15.4 |
116.0 |
191.3 |
177.8 |
-34.9 |
|
Normalized EBIT |
78.3 |
169.5 |
197.1 |
193.0 |
2.3 |
|
Normalized EBITDA |
390.4 |
484.3 |
503.9 |
480.6 |
311.9 |
|
Current Tax - Total |
60.6 |
- |
- |
- |
- |
|
Current Tax - Total |
60.6 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-30.0 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-30.0 |
- |
- |
- |
- |
|
Income Tax - Total |
30.6 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
- |
15.3 |
14.6 |
13.4 |
12.5 |
|
Service Cost - Domestic |
- |
28.1 |
25.8 |
23.2 |
24.1 |
|
Prior Service Cost - Domestic |
- |
-3.2 |
-2.8 |
-2.5 |
-2.3 |
|
Expected Return on Assets - Domestic |
- |
-8.1 |
-7.8 |
-6.5 |
-11.1 |
|
Actuarial Gains and Losses - Domestic |
- |
33.2 |
29.2 |
29.8 |
23.1 |
|
Other Pension, Net - Domestic |
- |
- |
- |
-0.5 |
- |
|
Domestic Pension Plan Expense |
- |
65.4 |
59.0 |
56.9 |
46.4 |
|
Total Pension Expense |
- |
65.4 |
59.0 |
56.9 |
46.4 |
|
Discount Rate - Domestic |
- |
1.90% |
1.90% |
1.90% |
1.90% |
|
Expected Rate of Return - Domestic |
- |
1.60% |
1.60% |
1.60% |
2.50% |
|
Total Plan Interest Cost |
- |
15.3 |
14.6 |
13.4 |
12.5 |
|
Total Plan Service Cost |
- |
28.1 |
25.8 |
23.2 |
24.1 |
|
Total Plan Expected Return |
- |
-8.1 |
-7.8 |
-6.5 |
-11.1 |
|
Total Plan Other Expense |
- |
- |
- |
-0.5 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
94.088557 |
82.385362 |
82.88 |
93.44 |
98.77 |
|
Auditor |
|
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
458.9 |
724.5 |
548.5 |
543.2 |
616.3 |
|
Cash and Short Term Investments |
458.9 |
724.5 |
548.5 |
543.2 |
616.3 |
|
Accounts Receivable -
Trade, Gross |
1,301.5 |
1,413.5 |
1,479.8 |
1,278.0 |
1,198.6 |
|
Provision for Doubtful
Accounts |
-7.7 |
-16.7 |
-14.2 |
-11.8 |
-14.2 |
|
Trade Accounts Receivable - Net |
1,293.9 |
1,396.8 |
1,465.6 |
1,266.2 |
1,184.4 |
|
Total Receivables, Net |
1,293.9 |
1,396.8 |
1,465.6 |
1,266.2 |
1,184.4 |
|
Inventories - Finished Goods |
242.2 |
225.6 |
229.4 |
163.7 |
155.4 |
|
Inventories - Work In Progress |
179.2 |
201.6 |
212.1 |
172.9 |
140.8 |
|
Inventories - Raw Materials |
220.5 |
217.6 |
201.0 |
166.2 |
141.1 |
|
Total Inventory |
641.9 |
644.8 |
642.6 |
502.8 |
437.3 |
|
Deferred Income Tax - Current Asset |
49.0 |
49.4 |
50.6 |
44.3 |
37.3 |
|
Other Current Assets |
184.3 |
240.3 |
257.8 |
230.1 |
196.7 |
|
Other Current Assets, Total |
233.2 |
289.7 |
308.4 |
274.4 |
234.0 |
|
Total Current Assets |
2,628.0 |
3,055.7 |
2,965.1 |
2,586.6 |
2,472.0 |
|
|
|
|
|
|
|
|
Buildings |
2,005.4 |
2,157.7 |
2,132.2 |
1,643.5 |
1,535.6 |
|
Land/Improvements |
202.8 |
226.9 |
232.5 |
207.6 |
192.1 |
|
Machinery/Equipment |
2,291.6 |
2,552.0 |
2,484.8 |
2,192.2 |
2,050.7 |
|
Construction in
Progress |
216.4 |
87.3 |
94.4 |
303.4 |
112.6 |
|
Other
Property/Plant/Equipment |
889.3 |
973.4 |
1,030.0 |
892.9 |
824.0 |
|
Property/Plant/Equipment - Gross |
5,605.5 |
5,997.3 |
5,973.9 |
5,239.6 |
4,715.1 |
|
Accumulated Depreciation |
-3,667.4 |
-4,205.5 |
-4,174.5 |
-3,582.3 |
-3,221.5 |
|
Property/Plant/Equipment - Net |
1,938.0 |
1,791.8 |
1,799.4 |
1,657.4 |
1,493.5 |
|
Goodwill, Net |
73.7 |
- |
- |
- |
13.6 |
|
Intangibles, Net |
76.1 |
68.3 |
58.9 |
51.7 |
32.9 |
|
LT Investment - Affiliate Companies |
- |
368.9 |
361.2 |
338.4 |
- |
|
LT Investments - Other |
518.4 |
223.6 |
288.5 |
294.3 |
525.8 |
|
Long Term Investments |
518.4 |
592.4 |
649.7 |
632.7 |
525.8 |
|
Pension Benefits - Overfunded |
233.2 |
288.2 |
289.0 |
258.4 |
249.7 |
|
Deferred Income Tax - Long Term Asset |
51.6 |
48.6 |
33.7 |
33.0 |
25.7 |
|
Other Long Term Assets |
102.3 |
96.3 |
25.0 |
21.4 |
61.6 |
|
Other Long Term Assets, Total |
387.2 |
433.0 |
347.7 |
312.8 |
337.0 |
|
Total Assets |
5,621.3 |
5,941.3 |
5,820.7 |
5,241.2 |
4,874.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
718.3 |
906.1 |
877.2 |
798.1 |
653.3 |
|
Accrued Expenses |
- |
- |
0.0 |
0.4 |
0.3 |
|
Notes Payable/Short Term Debt |
694.7 |
585.3 |
607.2 |
526.0 |
798.4 |
|
Current Portion - Long Term Debt/Capital Leases |
0.0 |
121.4 |
217.7 |
34.5 |
34.2 |
|
Income Taxes Payable |
12.5 |
23.5 |
21.2 |
24.2 |
19.9 |
|
Other Current Liabilities |
437.7 |
483.3 |
338.2 |
468.7 |
292.6 |
|
Other Current liabilities, Total |
450.2 |
506.8 |
359.3 |
492.9 |
312.5 |
|
Total Current Liabilities |
1,863.1 |
2,119.6 |
2,061.3 |
1,851.9 |
1,798.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
1,318.5 |
1,336.6 |
1,162.0 |
1,068.4 |
933.4 |
|
Total Long Term Debt |
1,318.5 |
1,336.6 |
1,162.0 |
1,068.4 |
933.4 |
|
Total Debt |
2,013.1 |
2,043.3 |
1,986.8 |
1,628.9 |
1,766.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
5.5 |
2.6 |
21.8 |
23.5 |
21.3 |
|
Deferred Income Tax |
5.5 |
2.6 |
21.8 |
23.5 |
21.3 |
|
Minority Interest |
150.4 |
144.2 |
137.8 |
126.3 |
94.6 |
|
Reserves |
0.5 |
1.4 |
0.9 |
0.5 |
0.3 |
|
Pension Benefits - Underfunded |
78.6 |
90.6 |
90.1 |
73.7 |
67.7 |
|
Other Long Term Liabilities |
178.8 |
154.2 |
159.0 |
153.6 |
136.4 |
|
Other Liabilities, Total |
257.9 |
246.2 |
250.0 |
227.9 |
204.5 |
|
Total Liabilities |
3,595.3 |
3,849.3 |
3,632.9 |
3,298.0 |
3,052.4 |
|
|
|
|
|
|
|
|
Common Stock |
564.1 |
644.2 |
640.4 |
568.0 |
537.4 |
|
Common Stock |
564.1 |
644.2 |
640.4 |
568.0 |
537.4 |
|
Additional Paid-In Capital |
584.1 |
667.1 |
663.1 |
588.2 |
556.4 |
|
Retained Earnings (Accumulated Deficit) |
913.1 |
1,027.9 |
1,121.9 |
912.4 |
855.4 |
|
Treasury Stock - Common |
-54.3 |
-1.9 |
-1.9 |
-1.5 |
-1.2 |
|
Unrealized Gain (Loss) |
46.3 |
5.6 |
0.5 |
21.4 |
6.3 |
|
Translation Adjustment |
-28.0 |
-247.7 |
-239.9 |
-145.1 |
-129.5 |
|
Other Equity |
0.0 |
0.0 |
- |
- |
- |
|
Other Comprehensive Income |
0.6 |
-3.2 |
3.7 |
-0.1 |
-2.4 |
|
Other Equity, Total |
-27.4 |
-250.8 |
-236.3 |
-145.2 |
-131.9 |
|
Total Equity |
2,026.0 |
2,092.0 |
2,187.8 |
1,943.3 |
1,822.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
5,621.3 |
5,941.3 |
5,820.7 |
5,241.2 |
4,874.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
341.5 |
360.5 |
360.5 |
360.6 |
360.6 |
|
Total Common Shares Outstanding |
341.5 |
360.5 |
360.5 |
360.6 |
360.6 |
|
Treasury Shares - Common Stock Primary Issue |
19.4 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Employees |
- |
50,463 |
53,289 |
50,639 |
46,466 |
|
Number of Common Shareholders |
- |
29,340 |
28,705 |
28,143 |
31,186 |
|
Total Long Term Debt, Supplemental |
- |
1,367.1 |
1,449.3 |
1,163.7 |
967.6 |
|
Long Term Debt Maturing within 1 Year |
- |
335.1 |
217.7 |
34.5 |
34.2 |
|
Long Term Debt Maturing in Year 2 |
- |
295.4 |
333.7 |
176.4 |
29.2 |
|
Long Term Debt Maturing in Year 3 |
- |
85.5 |
288.0 |
278.6 |
113.3 |
|
Long Term Debt Maturing in Year 4 |
- |
226.1 |
70.8 |
245.0 |
262.3 |
|
Long Term Debt Maturing in Year 5 |
- |
364.7 |
226.9 |
60.6 |
180.6 |
|
Long Term Debt Maturing in 2-3 Years |
- |
380.9 |
621.6 |
455.1 |
142.5 |
|
Long Term Debt Maturing in 4-5 Years |
- |
590.8 |
297.7 |
305.7 |
442.9 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
60.3 |
312.4 |
368.5 |
348.0 |
|
Total Capital Leases, Supplemental |
- |
6.7 |
8.6 |
10.9 |
10.3 |
|
Capital Lease Payments Due in Year 1 |
- |
3.1 |
3.9 |
4.0 |
3.4 |
|
Capital Lease Payments Due in Year 2 |
- |
2.0 |
2.6 |
3.3 |
3.1 |
|
Capital Lease Payments Due in Year 3 |
- |
0.9 |
1.5 |
2.1 |
2.2 |
|
Capital Lease Payments Due in Year 4 |
- |
0.5 |
0.4 |
1.1 |
1.0 |
|
Capital Lease Payments Due in Year 5 |
- |
0.2 |
0.1 |
0.2 |
0.4 |
|
Capital Lease Payments Due in 2-3 Years |
- |
2.9 |
4.1 |
5.5 |
5.3 |
|
Capital Lease Payments Due in 4-5 Years |
- |
0.7 |
0.5 |
1.3 |
1.4 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
0.0 |
0.0 |
0.0 |
0.2 |
|
Pension Obligation - Domestic |
- |
778.7 |
796.0 |
718.4 |
688.9 |
|
Plan Assets - Domestic |
- |
521.3 |
526.9 |
477.5 |
419.1 |
|
Funded Status - Domestic |
- |
-257.4 |
-269.1 |
-240.9 |
-269.8 |
|
Total Funded Status |
- |
-257.4 |
-269.1 |
-240.9 |
-269.8 |
|
Discount Rate - Domestic |
- |
1.90% |
1.90% |
1.90% |
1.90% |
|
Expected Rate of Return - Domestic |
- |
1.60% |
1.60% |
1.60% |
2.50% |
|
Prepaid Benefits - Domestic |
- |
288.2 |
289.0 |
258.4 |
249.7 |
|
Accrued Liabilities - Domestic |
- |
-90.1 |
-89.2 |
-72.9 |
-67.1 |
|
Other Assets, Net - Domestic |
- |
455.6 |
468.8 |
426.5 |
452.3 |
|
Net Assets Recognized on Balance Sheet |
- |
653.8 |
668.6 |
612.0 |
634.9 |
|
Total Plan Obligations |
- |
778.7 |
796.0 |
718.4 |
688.9 |
|
Total Plan Assets |
- |
521.3 |
526.9 |
477.5 |
419.1 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
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) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
|
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
71.2 |
-42.2 |
168.6 |
89.8 |
-95.6 |
|
Depreciation |
297.0 |
308.1 |
302.2 |
283.9 |
298.1 |
|
Depreciation/Depletion |
297.0 |
308.1 |
302.2 |
283.9 |
298.1 |
|
Amortization of Acquisition Costs |
15.1 |
6.7 |
4.6 |
3.7 |
11.4 |
|
Amortization |
15.1 |
6.7 |
4.6 |
3.7 |
11.4 |
|
Unusual Items |
-178.1 |
-54.4 |
4.7 |
25.3 |
95.5 |
|
Equity in Net Earnings (Loss) |
8.9 |
-10.8 |
-22.1 |
-20.3 |
-5.8 |
|
Other Non-Cash Items |
-22.2 |
59.6 |
-35.3 |
62.0 |
21.8 |
|
Non-Cash Items |
-191.4 |
-5.6 |
-52.8 |
67.0 |
111.6 |
|
Accounts Receivable |
59.4 |
81.6 |
-54.1 |
3.6 |
383.6 |
|
Inventories |
-42.0 |
-53.2 |
-78.6 |
-33.5 |
128.5 |
|
Accounts Payable |
-204.1 |
24.5 |
-15.2 |
104.6 |
-253.5 |
|
Other Liabilities |
49.3 |
- |
- |
- |
- |
|
Other Operating Cash Flow |
216.9 |
152.1 |
-73.4 |
-47.1 |
-71.0 |
|
Changes in Working Capital |
79.4 |
205.0 |
-221.2 |
27.6 |
187.7 |
|
Cash from Operating Activities |
271.3 |
472.1 |
201.3 |
472.0 |
513.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-630.9 |
-315.5 |
-393.3 |
-265.2 |
-328.6 |
|
Capital Expenditures |
-630.9 |
-315.5 |
-393.3 |
-265.2 |
-328.6 |
|
Acquisition of Business |
-85.3 |
-12.9 |
-12.0 |
-18.6 |
-27.5 |
|
Sale of Business |
11.1 |
- |
- |
- |
- |
|
Sale of Fixed Assets |
19.3 |
15.3 |
27.8 |
12.9 |
12.1 |
|
Sale/Maturity of Investment |
25.6 |
- |
0.0 |
0.8 |
73.7 |
|
Purchase of Investments |
-41.6 |
-50.0 |
-32.9 |
-31.3 |
-148.7 |
|
Other Investing Cash Flow |
25.9 |
-6.1 |
39.7 |
27.4 |
16.6 |
|
Other Investing Cash Flow Items, Total |
-45.0 |
-53.7 |
22.6 |
-8.7 |
-73.8 |
|
Cash from Investing Activities |
-675.9 |
-369.3 |
-370.7 |
-273.9 |
-402.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
11.1 |
-2.7 |
-3.1 |
-2.3 |
-3.5 |
|
Financing Cash Flow Items |
11.1 |
-2.7 |
-3.1 |
-2.3 |
-3.5 |
|
Cash Dividends Paid - Common |
-21.4 |
-27.4 |
-21.0 |
-19.4 |
-35.9 |
|
Total Cash Dividends Paid |
-21.4 |
-27.4 |
-21.0 |
-19.4 |
-35.9 |
|
Repurchase/Retirement
of Common |
-60.5 |
-0.1 |
-0.2 |
-0.2 |
-0.4 |
|
Common Stock, Net |
-60.5 |
-0.1 |
-0.2 |
-0.2 |
-0.4 |
|
Issuance (Retirement) of Stock, Net |
-60.5 |
-0.1 |
-0.2 |
-0.2 |
-0.4 |
|
Short Term Debt, Net |
95.5 |
-244.0 |
28.7 |
-330.0 |
184.0 |
|
Long Term Debt Issued |
459.8 |
523.6 |
181.9 |
107.6 |
202.6 |
|
Long Term Debt
Reduction |
-337.4 |
-228.0 |
-47.7 |
-28.0 |
-136.8 |
|
Long Term Debt, Net |
122.4 |
295.5 |
134.2 |
79.6 |
65.9 |
|
Issuance (Retirement) of Debt, Net |
217.9 |
51.5 |
162.9 |
-250.4 |
249.8 |
|
Cash from Financing Activities |
147.1 |
21.4 |
138.5 |
-272.3 |
210.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
54.6 |
0.8 |
-34.6 |
-6.0 |
-7.4 |
|
Net Change in Cash |
-202.9 |
125.0 |
-65.5 |
-80.3 |
313.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
712.1 |
623.3 |
639.9 |
657.8 |
286.1 |
|
Net Cash - Ending Balance |
509.2 |
748.3 |
574.3 |
577.5 |
599.4 |
|
Cash Interest Paid |
32.8 |
44.9 |
34.1 |
29.5 |
37.2 |
|
Cash Taxes Paid |
51.2 |
76.2 |
67.7 |
44.0 |
37.8 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
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) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
|
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
5,919.2 |
6,447.2 |
6,089.7 |
5,417.7 |
5,708.9 |
|
Total Revenue |
5,919.2 |
6,447.2 |
6,089.7 |
5,417.7 |
5,708.9 |
|
|
|
|
|
|
|
|
Cost of finished goods sold |
5,002.8 |
5,425.4 |
5,096.7 |
4,495.6 |
4,949.0 |
|
Other Selling/General/Admin. Expense |
0.0 |
0.0 |
- |
- |
- |
|
Shipping |
180.9 |
205.9 |
181.1 |
162.0 |
162.2 |
|
Selling Expense |
- |
- |
- |
- |
41.9 |
|
Periodic retirement benefit costs |
- |
- |
29.0 |
29.2 |
- |
|
Reserve for officers retirement |
- |
- |
0.2 |
0.2 |
- |
|
Provision for directors' bonuses |
- |
- |
0.0 |
0.4 |
- |
|
Other Labor Expense |
- |
- |
287.8 |
257.4 |
- |
|
Labor Expense |
347.8 |
347.3 |
- |
- |
284.9 |
|
Research Expense |
- |
89.2 |
91.4 |
82.1 |
83.6 |
|
Depreciation expenses |
- |
- |
20.6 |
19.5 |
- |
|
Provision for doubtful accounts(SGA) |
- |
- |
2.8 |
0.7 |
- |
|
Other SGA |
309.4 |
210.0 |
183.1 |
177.5 |
184.9 |
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Compensation For Damage |
22.0 |
- |
- |
- |
- |
|
Other |
-15.6 |
-1.3 |
- |
- |
- |
|
Insurance income |
-239.7 |
-196.0 |
- |
- |
- |
|
Provision for the administrative fine |
0.0 |
21.3 |
- |
- |
- |
|
SP Revision gain-pension plan |
- |
- |
0.0 |
-0.5 |
0.0 |
|
SP Reversal Doubtful Accounts |
- |
- |
-0.4 |
-0.3 |
-0.8 |
|
SP G on establ.act for retire.benefits |
- |
- |
- |
0.0 |
-38.9 |
|
SP Insurance income |
- |
- |
0.0 |
- |
- |
|
SP Other Special Gain |
- |
- |
-0.1 |
0.0 |
-0.3 |
|
SP Loss Val. Inv.Secs |
- |
- |
14.4 |
0.2 |
9.9 |
|
SP Impairment Loss |
9.7 |
30.9 |
2.1 |
3.4 |
101.9 |
|
Provision of surcharge |
0.0 |
14.9 |
11.7 |
47.3 |
0.0 |
|
SP Loss on disaster |
112.4 |
249.3 |
6.3 |
0.0 |
- |
|
SP Business restructuring losses |
34.9 |
26.3 |
2.2 |
6.9 |
17.9 |
|
SP L on adjust. Changes of Acc. Assets |
- |
0.0 |
0.9 |
0.0 |
- |
|
SP L on val. of stock of related company |
- |
- |
0.7 |
4.0 |
0.4 |
|
SP L on val. of Contri. Inv't in affili. |
- |
- |
0.0 |
3.9 |
1.2 |
|
SP Retirement F.Assets |
- |
- |
0.0 |
3.8 |
0.0 |
|
SP Remove/Maintain Fixed Asset Fee |
- |
- |
0.0 |
18.2 |
0.0 |
|
SP Other Special Loss |
20.6 |
12.9 |
3.3 |
1.7 |
3.0 |
|
NOP Loss Retire Fixed Assets |
- |
11.0 |
7.6 |
10.3 |
15.6 |
|
Total Operating Expense |
5,785.1 |
6,447.1 |
5,941.2 |
5,323.6 |
5,816.3 |
|
|
|
|
|
|
|
|
NOP Interest Income |
1.8 |
3.4 |
2.3 |
3.6 |
5.2 |
|
Equity In Losses Of Affiliates |
-8.9 |
- |
- |
- |
- |
|
NOP Dividend Income |
13.8 |
13.5 |
14.5 |
12.5 |
14.1 |
|
NOP Equity Gain |
0.0 |
10.8 |
22.1 |
20.3 |
5.8 |
|
Other Non-Operating Income (Expense) |
0.0 |
0.0 |
- |
- |
- |
|
Provision for customer''s complaint |
- |
-13.8 |
- |
- |
- |
|
NOP Exchange Gain |
10.7 |
6.6 |
13.9 |
9.7 |
10.8 |
|
NOP Other Non-Op.Inc. |
13.6 |
11.6 |
17.0 |
11.9 |
14.0 |
|
NOP Interset Expense |
-37.1 |
-43.1 |
-34.5 |
-31.3 |
-37.6 |
|
NOP Products Repair Cost |
- |
- |
- |
- |
0.0 |
|
NOP Other Non-Op. Exp. |
-43.6 |
-31.5 |
-33.4 |
-31.5 |
-33.9 |
|
Loss on sales and retirement of noncurre |
-13.1 |
- |
- |
- |
- |
|
SP Gain Sales F.Asset |
- |
0.2 |
17.4 |
0.2 |
1.6 |
|
SP Gain Sale Inv. Secs |
- |
- |
0.2 |
0.1 |
31.9 |
|
SP Gain Liqudation Affiliate |
- |
- |
0.7 |
0.2 |
0.0 |
|
Net Income Before Taxes |
71.2 |
-42.2 |
168.6 |
89.8 |
-95.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
30.6 |
30.7 |
59.7 |
57.4 |
103.6 |
|
Net Income After Taxes |
40.6 |
-72.9 |
108.9 |
32.4 |
-199.2 |
|
|
|
|
|
|
|
|
Minority interest |
-3.8 |
-6.0 |
0.6 |
-4.7 |
10.0 |
|
Net Income Before Extra. Items |
36.8 |
-78.9 |
109.5 |
27.6 |
-189.3 |
|
Net Income |
36.8 |
-78.9 |
109.5 |
27.6 |
-189.3 |
|
|
|
|
|
|
|
|
Rounding Of Net Income After Ex. Items |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Income Statement |
- |
0.0 |
- |
- |
- |
|
Director's Bonus |
- |
- |
- |
0.0 |
0.0 |
|
Adjustment |
- |
- |
- |
0.0 |
- |
|
Income Available to Com Excl ExtraOrd |
36.7 |
-78.9 |
109.5 |
27.6 |
-189.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
36.7 |
-78.9 |
109.5 |
27.6 |
-189.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
352.4 |
360.5 |
360.6 |
360.6 |
360.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.10 |
-0.22 |
0.30 |
0.08 |
-0.52 |
|
Basic EPS Including ExtraOrdinary Items |
0.10 |
-0.22 |
0.30 |
0.08 |
-0.52 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
36.7 |
-78.9 |
109.5 |
27.6 |
-189.3 |
|
Diluted Weighted Average Shares |
352.4 |
360.5 |
360.6 |
360.6 |
360.6 |
|
Diluted EPS Excluding ExtraOrd Items |
0.10 |
-0.22 |
0.30 |
0.08 |
-0.52 |
|
Diluted EPS Including ExtraOrd Items |
0.10 |
-0.22 |
0.30 |
0.08 |
-0.52 |
|
DPS-Common Stock |
0.06 |
0.06 |
0.07 |
0.05 |
0.07 |
|
Gross Dividends - Common Stock |
- |
22.8 |
25.2 |
19.4 |
26.9 |
|
Normalized Income Before Taxes |
43.6 |
133.6 |
203.7 |
192.0 |
23.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
12.3 |
89.9 |
70.5 |
91.9 |
141.5 |
|
Normalized Income After Taxes |
31.3 |
43.7 |
133.2 |
100.1 |
-117.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
27.5 |
37.7 |
133.8 |
95.3 |
-107.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.08 |
0.10 |
0.37 |
0.26 |
-0.30 |
|
Diluted Normalized EPS |
0.08 |
0.10 |
0.37 |
0.26 |
-0.30 |
|
Research & Development Exp(SGA) |
- |
89.2 |
91.4 |
82.1 |
83.6 |
|
Research & Development (COGS) |
- |
95.5 |
71.1 |
63.1 |
65.5 |
|
Interest expense, supplemental |
37.1 |
43.1 |
34.5 |
31.3 |
37.6 |
|
BC - Depreciation of Goodwill |
15.1 |
- |
- |
- |
- |
|
Amortization of Goodwill - footnote |
- |
6.7 |
- |
- |
- |
|
Amortization of goodwill, supplemental |
- |
- |
4.6 |
3.7 |
11.4 |
|
BC - Depreciation of Fixed Assets |
297.0 |
- |
- |
- |
- |
|
Amort of Tangible Assets-Current Portion |
- |
308.1 |
- |
- |
- |
|
Depreciation, supplemental |
- |
- |
302.2 |
283.9 |
298.1 |
|
Income taxes-current |
60.6 |
- |
- |
- |
- |
|
Current Tax - Total |
60.6 |
- |
- |
- |
- |
|
Income taxes-deferred |
-30.0 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-30.0 |
- |
- |
- |
- |
|
Income Tax - Total |
30.6 |
- |
- |
- |
- |
|
Reported Operating Profit |
78.3 |
169.5 |
197.1 |
193.0 |
2.3 |
|
Reported Ordinary Profit |
15.4 |
116.0 |
191.3 |
177.8 |
-34.9 |
|
Service Cost |
- |
28.1 |
25.8 |
23.2 |
24.1 |
|
Interest Cost |
- |
15.3 |
14.6 |
13.4 |
12.5 |
|
Expected return on plan assets |
- |
-8.1 |
-7.8 |
-6.5 |
-11.1 |
|
Prior service cost |
- |
-3.2 |
-2.8 |
-2.5 |
-2.3 |
|
Actuarial G&L |
- |
33.2 |
29.2 |
29.8 |
23.1 |
|
Revision gain on pension plan |
- |
- |
- |
-0.5 |
- |
|
Domestic Pension Plan Expense |
- |
65.4 |
59.0 |
56.9 |
46.4 |
|
Total Pension Expense |
- |
65.4 |
59.0 |
56.9 |
46.4 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
- |
1.90% |
- |
- |
- |
|
Discount Rate |
- |
- |
1.90% |
1.90% |
1.90% |
|
Expected return on assets(MIN)-Retiremen |
- |
1.60% |
- |
- |
- |
|
Expected Rate of Return |
- |
- |
1.60% |
1.60% |
2.50% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
94.088557 |
82.385362 |
82.88 |
93.44 |
98.77 |
|
Auditor |
|
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash&Deposit |
458.9 |
724.5 |
548.5 |
543.2 |
616.3 |
|
Notes and accounts receivable-trade |
1,301.5 |
1,413.5 |
1,479.8 |
1,278.0 |
1,198.6 |
|
Merchandise and finished goods |
242.2 |
- |
- |
- |
- |
|
Merchandise and finished goods |
- |
225.6 |
229.4 |
163.7 |
155.4 |
|
Work in process |
179.2 |
- |
- |
- |
- |
|
Work in process |
- |
201.6 |
212.1 |
172.9 |
140.8 |
|
Raw materials and supplies |
220.5 |
- |
- |
- |
- |
|
Raw materials and supplies |
- |
217.6 |
201.0 |
166.2 |
141.1 |
|
Deferred Tax Assets |
49.0 |
- |
- |
- |
- |
|
Drfd. Tax Assets |
- |
49.4 |
50.6 |
44.3 |
37.3 |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Assets |
184.3 |
240.3 |
257.8 |
230.1 |
196.7 |
|
Doubtful Account |
-7.7 |
-16.7 |
-14.2 |
-11.8 |
-14.2 |
|
Total Current Assets |
2,628.0 |
3,055.7 |
2,965.1 |
2,586.6 |
2,472.0 |
|
|
|
|
|
|
|
|
Build./Structure |
2,005.4 |
2,157.7 |
2,132.2 |
1,643.5 |
1,535.6 |
|
Accumulated depreciation-Lease Assets |
-24.3 |
- |
- |
- |
- |
|
Accumulated impairment loss-Lease Assets |
0.0 |
- |
- |
- |
- |
|
Accum Dep of -Buildings And Structures |
-1,030.5 |
-1,136.1 |
-1,095.1 |
-921.7 |
-840.0 |
|
Accum Impair. L of Buildings&Structures |
-51.2 |
-106.3 |
-33.4 |
-29.5 |
-28.6 |
|
Machinery, equipment and vehicles |
2,291.6 |
2,552.0 |
2,484.8 |
2,192.2 |
2,050.7 |
|
Acc. Dep.-Machine,Equip&Vehicle |
-1,822.8 |
-2,079.7 |
-2,102.5 |
-1,814.8 |
-1,617.2 |
|
Accum Impire. L Machi.&Equp.&Vehicle |
-45.0 |
-37.7 |
-39.0 |
-41.3 |
-40.7 |
|
Land |
202.8 |
- |
- |
- |
- |
|
Land |
- |
226.9 |
232.5 |
207.6 |
192.1 |
|
Lease Assets |
73.4 |
- |
- |
- |
- |
|
Lease Assets, gross |
- |
37.3 |
21.5 |
18.6 |
17.5 |
|
Accumulated depreciation(2) |
- |
-15.4 |
-11.7 |
-7.9 |
-5.3 |
|
Accumulated impairment loss(2) |
- |
0.0 |
-0.7 |
-0.6 |
-4.2 |
|
Construction In Progress |
216.4 |
- |
- |
- |
- |
|
Const in Prog. |
- |
87.3 |
94.4 |
303.4 |
112.6 |
|
Other PPE |
815.9 |
936.1 |
1,008.5 |
874.3 |
806.5 |
|
Accumulated Depreciation-Other |
-682.3 |
-817.5 |
-881.1 |
-755.7 |
-674.1 |
|
Accumulated impairment loss-Other |
-11.2 |
-12.8 |
-10.9 |
-10.8 |
-11.5 |
|
Goodwill |
73.7 |
- |
- |
- |
- |
|
Goodwill |
- |
- |
- |
- |
13.6 |
|
Other intangible assets |
76.1 |
68.3 |
58.9 |
51.7 |
32.9 |
|
Invt Secs Noncons, Asc, Affd Cos |
- |
298.0 |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
- |
70.8 |
- |
- |
- |
|
Equity secs.-nonconsolidated affil. |
- |
- |
304.0 |
290.2 |
- |
|
Other LT investmen |
- |
223.6 |
- |
- |
- |
|
Investment Secs |
518.4 |
- |
288.5 |
294.3 |
525.8 |
|
Prepaid Pension Cost |
233.2 |
- |
- |
- |
- |
|
Prepaid Pension Exp. |
- |
288.2 |
289.0 |
258.4 |
249.7 |
|
Deferred tax assets |
51.6 |
- |
- |
- |
- |
|
Deferred tax assets |
- |
48.6 |
33.7 |
33.0 |
25.7 |
|
Inv't partnership-nonconsol.affil. |
- |
- |
57.2 |
48.2 |
- |
|
Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Total investments and other assets |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Assets |
- |
0.0 |
- |
- |
- |
|
Other |
131.2 |
125.8 |
46.4 |
37.9 |
76.0 |
|
Allw.Doubt.Acct |
-20.1 |
-18.0 |
-18.0 |
-15.3 |
-14.4 |
|
Reserve Investment Loss |
-8.8 |
-11.5 |
-3.3 |
-1.2 |
0.0 |
|
Adjustment |
- |
- |
0.0 |
-0.1 |
-0.1 |
|
Property/Plant/Equipment, Total - Net |
0.0 |
- |
- |
- |
- |
|
Other Buildings, Net |
- |
0.0 |
- |
- |
- |
|
Other Plant/machinery, Net |
- |
0.0 |
- |
- |
- |
|
Other PPE, net |
- |
0.0 |
- |
- |
- |
|
Total Assets |
5,621.3 |
5,941.3 |
5,820.7 |
5,241.2 |
4,874.8 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
718.3 |
906.1 |
877.2 |
798.1 |
653.3 |
|
Short-term loans payable |
694.7 |
585.3 |
607.2 |
526.0 |
656.6 |
|
Current Portion of LT Borrowings |
- |
- |
97.0 |
34.5 |
34.2 |
|
Commercial Paper |
- |
- |
- |
0.0 |
141.7 |
|
Current Portion of Corporate Bond |
0.0 |
121.4 |
120.7 |
0.0 |
0.0 |
|
Income Tax Pay. |
12.5 |
23.5 |
21.2 |
24.2 |
19.9 |
|
Reserve for directors' bonuses |
- |
- |
0.0 |
0.4 |
0.3 |
|
Rounding adjustment Liability |
0.0 |
0.0 |
- |
- |
- |
|
Other Provisions - Current Liabilities |
- |
20.4 |
- |
- |
- |
|
Provision for Antitrust |
- |
- |
0.0 |
- |
- |
|
Res./surcharge |
- |
- |
0.0 |
47.1 |
0.0 |
|
Other |
437.7 |
462.9 |
338.2 |
421.6 |
292.6 |
|
Total Current Liabilities |
1,863.1 |
2,119.6 |
2,061.3 |
1,851.9 |
1,798.7 |
|
|
|
|
|
|
|
|
Corporate Bond |
531.4 |
606.9 |
241.3 |
321.1 |
303.7 |
|
Long-term loans payable |
787.1 |
729.7 |
920.7 |
747.3 |
629.7 |
|
Total Long Term Debt |
1,318.5 |
1,336.6 |
1,162.0 |
1,068.4 |
933.4 |
|
|
|
|
|
|
|
|
Deferred Tax |
5.5 |
2.6 |
21.8 |
23.5 |
21.3 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Liability |
- |
0.0 |
- |
- |
- |
|
Rsrv-Accr.Retire |
78.0 |
90.1 |
89.2 |
72.9 |
67.1 |
|
Provision for directors'' retirement ben |
0.6 |
0.6 |
0.8 |
0.8 |
0.6 |
|
Repairment Exp. |
0.5 |
0.4 |
0.4 |
0.3 |
0.3 |
|
Reserve for L. on liabilities for guar. |
0.0 |
1.0 |
0.5 |
0.2 |
0.0 |
|
Other |
178.7 |
154.2 |
159.0 |
153.6 |
136.4 |
|
Min. Interest |
150.4 |
144.2 |
137.8 |
126.3 |
94.6 |
|
Total Liabilities |
3,595.3 |
3,849.3 |
3,632.9 |
3,298.0 |
3,052.4 |
|
|
|
|
|
|
|
|
Common Stock |
564.1 |
644.2 |
640.4 |
568.0 |
537.4 |
|
Total capital surpluses |
584.1 |
667.1 |
663.1 |
588.2 |
556.4 |
|
Total retained earnings |
913.1 |
1,027.9 |
1,121.9 |
912.4 |
855.4 |
|
Treasury Stock |
-54.3 |
-1.9 |
-1.9 |
-1.5 |
-1.2 |
|
Valuation difference on available-for-sa |
46.3 |
5.6 |
0.5 |
21.4 |
6.3 |
|
Unrealized Gaub in Hedge |
0.6 |
-3.2 |
3.7 |
-0.1 |
-2.4 |
|
Translation Adj. |
-28.0 |
-247.7 |
-239.9 |
-145.1 |
-129.5 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Equity |
- |
0.0 |
- |
- |
- |
|
Total Equity |
2,026.0 |
2,092.0 |
2,187.8 |
1,943.3 |
1,822.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
5,621.3 |
5,941.3 |
5,820.7 |
5,241.2 |
4,874.8 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
341.5 |
360.5 |
360.5 |
360.6 |
360.6 |
|
Total Common Shares Outstanding |
341.5 |
360.5 |
360.5 |
360.6 |
360.6 |
|
T/S-Common Stock |
19.4 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Full-Time Employees |
- |
50,463 |
53,289 |
50,639 |
46,466 |
|
Total Number of Shareholders |
- |
29,340 |
- |
- |
- |
|
Number of Common Shareholders |
- |
- |
28,705 |
28,143 |
31,186 |
|
Within One Year |
- |
121.4 |
- |
- |
- |
|
Other LT Debt |
- |
0.8 |
- |
- |
- |
|
Long Term Debt Maturing witin 1 Yr |
- |
212.9 |
217.7 |
34.5 |
34.2 |
|
Over One Year And Within Two Years |
- |
0.0 |
- |
- |
- |
|
Lns Pble Maturing over a Yr within 2 Yrs |
- |
295.4 |
- |
- |
- |
|
Long Term Debt Maturing witin 2 Yr |
- |
- |
333.7 |
176.4 |
29.2 |
|
Over Two Years And Within Three Years |
- |
0.0 |
- |
- |
- |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
- |
85.5 |
- |
- |
- |
|
Long Term Debt Maturing witin 3 Yr |
- |
- |
288.0 |
278.6 |
113.3 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
- |
226.1 |
- |
- |
- |
|
Long Term Debt Maturing witin 4 Yr |
- |
- |
70.8 |
245.0 |
262.3 |
|
Bond Redemp Amts over 4 Yrs within 5 Yrs |
- |
242.8 |
- |
- |
- |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
- |
122.0 |
- |
- |
- |
|
Long Term Debt Maturing witin 5 Yr |
- |
- |
226.9 |
60.6 |
180.6 |
|
Division And End Of Current Period Remai |
- |
60.3 |
- |
- |
- |
|
Long Term Debt Maturing thereafter |
- |
- |
312.4 |
368.5 |
348.0 |
|
Total Long Term Debt, Supplemental |
- |
1,367.1 |
1,449.3 |
1,163.7 |
967.6 |
|
Capital Lease Within 1 Year |
- |
3.1 |
3.9 |
4.0 |
3.4 |
|
Cap Lease Maturg over a Yr within 2 Yrs |
- |
2.0 |
- |
- |
- |
|
Capital Lease Within 2 Years |
- |
- |
2.6 |
3.3 |
3.1 |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
- |
0.9 |
- |
- |
- |
|
Capital Lease Within 3 Years |
- |
- |
1.5 |
2.1 |
2.2 |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
- |
0.5 |
- |
- |
- |
|
Capital Lease Within 4 Years |
- |
- |
0.4 |
1.1 |
1.0 |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
- |
0.2 |
- |
- |
- |
|
Capital Lease Within 5 Years |
- |
- |
0.1 |
0.2 |
0.4 |
|
Other Cap. Lease |
- |
0.0 |
- |
- |
- |
|
Capital Lease remaining |
- |
- |
0.0 |
0.0 |
0.2 |
|
Total Capital Leases, Supplemental |
- |
6.7 |
8.6 |
10.9 |
10.3 |
|
Pension Obligation |
- |
778.7 |
796.0 |
718.4 |
688.9 |
|
Fair value of plan assets |
- |
521.3 |
526.9 |
477.5 |
419.1 |
|
Funded Status |
- |
-257.4 |
-269.1 |
-240.9 |
-269.8 |
|
Total Funded Status |
- |
-257.4 |
-269.1 |
-240.9 |
-269.8 |
|
Discount Rate |
- |
1.90% |
1.90% |
1.90% |
1.90% |
|
Expected rate of return |
- |
1.60% |
1.60% |
1.60% |
2.50% |
|
Unrecog.actuarial G&L |
- |
268.6 |
281.6 |
259.7 |
315.6 |
|
Unrecog.Prior service Cost |
- |
-28.4 |
-31.3 |
-30.5 |
-28.6 |
|
Pension Retirement Trust |
- |
215.4 |
218.6 |
197.2 |
165.3 |
|
Prepaid pension Benefits |
- |
288.2 |
289.0 |
258.4 |
249.7 |
|
Reserve for Accrued Retirement Benefits |
- |
-90.1 |
-89.2 |
-72.9 |
-67.1 |
|
Net Assets Recognized on Balance Sheet |
- |
653.8 |
668.6 |
612.0 |
634.9 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
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) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
|
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income Bf. Tax |
71.2 |
-42.2 |
168.6 |
89.8 |
-95.6 |
|
Depreciation |
297.0 |
308.1 |
302.2 |
283.9 |
298.1 |
|
Increace (decrease) of other NCL |
49.3 |
- |
- |
- |
- |
|
Compensation for damage |
22.0 |
- |
- |
- |
- |
|
tana messitu |
- |
55.2 |
- |
- |
- |
|
Insurance income |
-239.7 |
-196.0 |
- |
- |
- |
|
Assets impairmet losses |
9.7 |
30.9 |
0.0 |
3.4 |
101.9 |
|
Inventory loss |
- |
- |
0.0 |
- |
- |
|
Amort. of goodwill |
15.1 |
6.7 |
4.6 |
3.7 |
11.4 |
|
Provision for loss from antitrust law pa |
-20.2 |
- |
- |
- |
- |
|
Increase (decrease) in provision |
-9.3 |
33.4 |
11.0 |
46.8 |
3.5 |
|
Insurance income |
- |
- |
0.0 |
- |
- |
|
Int. & Div. Income |
-15.5 |
-16.9 |
-16.8 |
-16.0 |
-19.2 |
|
Interest Expense |
37.1 |
43.1 |
34.5 |
31.3 |
37.6 |
|
Equity in (earnings) losses of affiliate |
8.9 |
-10.8 |
-22.1 |
-20.3 |
-5.8 |
|
Gain Sale Inv.Secs |
- |
- |
0.0 |
-0.1 |
-31.9 |
|
Loss (gain) on valuation of investment s |
17.3 |
- |
14.4 |
0.2 |
9.9 |
|
L on val. of stock of related company |
- |
- |
0.0 |
4.0 |
0.4 |
|
Loss on reval. of Contr.invest /affila. |
- |
- |
0.0 |
3.9 |
1.2 |
|
Loss on retirement of property, plant an |
12.7 |
55.7 |
7.6 |
14.1 |
15.6 |
|
Loss (gain) on sales of property, plant |
0.0 |
-0.2 |
-17.4 |
-0.2 |
-1.6 |
|
Decrease (increase) in notes and account |
59.4 |
81.6 |
-54.1 |
3.6 |
383.6 |
|
Decrease (increase) in inventories |
-42.0 |
-53.2 |
-78.6 |
-33.5 |
128.5 |
|
Increase (decrease) in notes and account |
-204.1 |
24.5 |
-15.2 |
104.6 |
-253.5 |
|
Other Operating Cash Flow |
0.0 |
- |
- |
- |
- |
|
Compensation for damage paid |
-22.0 |
- |
- |
- |
- |
|
Decrease in cash and cash equivalents re |
-3.4 |
- |
- |
- |
- |
|
Decrease of cash and cash equivalents du |
0.0 |
-0.9 |
- |
- |
- |
|
Increase In Cash And Cash Equivalents Fr |
2.8 |
4.1 |
- |
- |
- |
|
Proceeds from insurance income(1) |
239.7 |
196.0 |
- |
- |
- |
|
Other, net |
65.4 |
51.6 |
-2.9 |
4.5 |
-21.4 |
|
Int. & Div. Rcvd. |
18.1 |
22.2 |
31.3 |
21.9 |
25.4 |
|
Interest Paid |
-32.8 |
-44.9 |
-34.1 |
-29.5 |
-37.2 |
|
Proceeds from insurance income |
- |
- |
0.0 |
- |
- |
|
Surcharge paid |
-14.2 |
0.0 |
-64.0 |
0.0 |
- |
|
Income taxes (paid) refund |
-51.2 |
-76.2 |
-67.7 |
-44.0 |
-37.8 |
|
Adjustment |
- |
- |
-0.1 |
- |
- |
|
Cash from Operating Activities |
271.3 |
472.1 |
201.3 |
472.0 |
513.2 |
|
|
|
|
|
|
|
|
Purchase of property, plant and equipmen |
-630.9 |
-315.5 |
-393.3 |
-265.2 |
-328.6 |
|
Proceeds from sales of property, plant a |
19.3 |
15.3 |
27.8 |
12.9 |
12.1 |
|
Redem. Inv.Secs |
- |
- |
- |
- |
0.0 |
|
Sale Invest Secs |
25.6 |
- |
0.0 |
0.8 |
73.7 |
|
Purch. Invest Secs |
- |
- |
-2.9 |
-6.1 |
-111.7 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Loans made |
-22.7 |
-30.4 |
-17.5 |
-17.0 |
-33.9 |
|
Loans collected |
40.0 |
19.2 |
22.5 |
23.0 |
27.6 |
|
Purch. subs.' sec.-change consl. scope |
-85.3 |
-12.9 |
-12.0 |
0.0 |
-16.4 |
|
Purch. subs.' sec |
- |
- |
- |
0.0 |
-3.1 |
|
Proceeds from sales of investments in su |
11.1 |
- |
- |
- |
- |
|
Purchase of business |
- |
- |
0.0 |
-18.6 |
-11.1 |
|
Payments/Closely-held invest. in affili. |
-18.9 |
-19.7 |
-12.5 |
-8.3 |
0.0 |
|
Other, net |
-14.0 |
-25.3 |
17.2 |
4.5 |
-11.0 |
|
Cash from Investing Activities |
-675.9 |
-369.3 |
-370.7 |
-273.9 |
-402.4 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
95.5 |
-244.0 |
28.7 |
-179.4 |
44.6 |
|
Commercial Paper |
- |
- |
0.0 |
-150.6 |
139.3 |
|
Proceeds From Issuance Of Bonds(1) |
0.0 |
504.3 |
- |
- |
- |
|
Proceeds from long-term loans payable |
459.8 |
19.3 |
181.9 |
107.6 |
202.6 |
|
Repayment of long-term loans payable |
-216.9 |
-101.4 |
-47.7 |
-28.0 |
-37.2 |
|
Redemption Bonds |
-120.5 |
-126.6 |
- |
0.0 |
-99.5 |
|
Proceeds from issuance of bonds |
- |
- |
0.0 |
- |
0.0 |
|
Purch. Treasury |
-60.5 |
-0.1 |
-0.2 |
-0.2 |
-0.4 |
|
Cash Dividends |
-21.4 |
-27.4 |
-21.0 |
-19.4 |
-35.9 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Other, net |
11.1 |
-2.6 |
-3.1 |
-2.3 |
-3.5 |
|
Cash from Financing Activities |
147.1 |
21.4 |
138.5 |
-272.3 |
210.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
54.6 |
0.8 |
-34.6 |
-6.0 |
-7.4 |
|
Net Change in Cash |
-202.9 |
125.0 |
-65.5 |
-80.3 |
313.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
712.1 |
623.3 |
639.9 |
657.8 |
286.1 |
|
Net Cash - Ending Balance |
509.2 |
748.3 |
574.3 |
577.5 |
599.4 |
|
Cash Interest Paid |
32.8 |
44.9 |
34.1 |
29.5 |
37.2 |
|
Cash Taxes Paid |
51.2 |
76.2 |
67.7 |
44.0 |
37.8 |
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.55.62 |
|
UK Pound |
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.96 |
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.