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Report Date : |
07.11.2013 |
IDENTIFICATION DETAILS
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Name : |
TWINBIRD CORPORATION |
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Registered Office : |
2084-2, Yoshida Nishiota Tsubame-Shi, 959-0292 |
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Country : |
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Financials (as on) : |
25.03.2013 |
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Date of Incorporation : |
17.04.1962 |
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Legal Form : |
Public Independent |
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Line of Business : |
Manufactures and sells home electric appliances |
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No. of Employees : |
301 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 3.31 Millions |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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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|
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 |
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
Source
: CIA
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TWINBIRD
CORPORATION |
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TWINBIRD CORPORATION mainly manufactures and sells home electric appliances. The Company provides light equipment, such as light-emitting diode (LED) ceiling lamps, LED and fluorescent table lamps; cooking electric appliances, such as rice milling machines, microwave ovens, home bakeries and toasters; cleaners, such as stick cleaners, horizontal cleaners and handy cleaners; home electric appliances, including energy-saving air fans, tower fans, air purifiers, humidifiers and irons; refrigerators, including portable and business refrigerators; audio and video (AV) equipment, including water-proof digital versatile disk (DVD) players, wireless monitors and liquid crystal televisions; health beauty equipment, including scalp cleansing brushes and massagers; as well as other products, such as clocks, interiors and houseware supplies. Through its associated companies, the Company also involved in the insurance agency business, and the power-generating and energy-saving equipment business. For the three months ended 25 June 2013, TWINBIRD CORPORATION revenues decreased 8% to Y3.08B. Net income applicable to common stockholders increased from Y8.3M to Y100.2M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income reflects NOP Exchange Loss decrease from Y182.8M (expense) to Y0K, Total selling, general and administrativ decrease of 12% to Y771.4M (expense). |
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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US SIC 1987: |
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Key IDSM Number: 42422494
1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 82.78196
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 94.545
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TWINBIRD CORP Announces Changes in Fiscal Year
Period |
30-Apr-2013 |
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TWINBIRD CORP Amends Consolidated Full-year Outlook
for FY 2013 |
24-Apr-2013 |
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25-Mar-2013 |
25-Mar-2012 |
25-Mar-2011 |
25-Mar-2010 |
25-Mar-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated |
Updated |
Updated |
Updated |
Updated |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate (Period Average) |
82.781963 |
78.946562 |
85.865738 |
93.022233 |
100.51373 |
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Auditor |
Yusei Audit Corporation |
Yusei Audit Corporation |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
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Auditor Opinion |
Unqualified |
Unqualified with Explanation |
Unqualified |
Unqualified with Explanation |
Unqualified |
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Net Sales |
149.7 |
190.1 |
152.0 |
132.9 |
121.3 |
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Revenue |
149.7 |
190.1 |
152.0 |
132.9 |
121.3 |
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Total Revenue |
149.7 |
190.1 |
152.0 |
132.9 |
121.3 |
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Cost of Revenue |
106.2 |
123.6 |
99.4 |
94.0 |
91.3 |
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Cost of Revenue, Total |
106.2 |
123.6 |
99.4 |
94.0 |
91.3 |
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Gross Profit |
43.6 |
66.5 |
52.7 |
38.8 |
30.0 |
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Selling/General/Administrative Expense |
18.2 |
23.0 |
13.8 |
11.8 |
9.9 |
|
Labor & Related Expense |
15.2 |
17.0 |
15.0 |
11.7 |
10.0 |
|
Advertising Expense |
3.1 |
3.1 |
2.1 |
1.9 |
1.7 |
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Total Selling/General/Administrative Expenses |
36.5 |
43.1 |
30.9 |
25.4 |
21.7 |
|
Research & Development |
2.2 |
2.5 |
2.8 |
1.4 |
2.2 |
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Depreciation |
1.0 |
0.9 |
0.6 |
0.5 |
0.5 |
|
Depreciation/Amortization |
1.0 |
0.9 |
0.6 |
0.5 |
0.5 |
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Impairment-Assets Held for Use |
0.1 |
0.2 |
0.2 |
0.4 |
0.0 |
|
Impairment-Assets Held for |
- |
- |
0.1 |
0.0 |
0.4 |
|
Other Unusual Expense (Income) |
-0.4 |
4.0 |
0.3 |
0.0 |
0.0 |
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Unusual Expense (Income) |
-0.4 |
4.2 |
0.6 |
0.4 |
0.4 |
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Other Operating Expense |
0.0 |
0.0 |
- |
- |
- |
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Other Operating Expenses, Total |
0.0 |
0.0 |
- |
- |
- |
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Total Operating Expense |
145.6 |
174.2 |
134.3 |
121.7 |
116.0 |
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Operating Income |
4.2 |
15.9 |
17.8 |
11.2 |
5.3 |
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Interest Expense - Non-Operating |
-0.2 |
-0.3 |
-0.4 |
-0.5 |
-0.6 |
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Interest Expense, Net Non-Operating |
-0.2 |
-0.3 |
-0.4 |
-0.5 |
-0.6 |
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Interest Income - Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investment Income - Non-Operating |
1.6 |
0.9 |
-7.6 |
-2.1 |
-0.6 |
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Interest/Investment Income - Non-Operating |
1.6 |
0.9 |
-7.5 |
-2.1 |
-0.6 |
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Interest Income (Expense) - Net Non-Operating Total |
1.3 |
0.6 |
-8.0 |
-2.6 |
-1.2 |
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Gain (Loss) on |
-0.3 |
-0.3 |
-0.4 |
-0.8 |
-0.3 |
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Other Non-Operating Income (Expense) |
-1.2 |
-1.7 |
-1.3 |
-0.9 |
-1.0 |
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Other, Net |
-1.2 |
-1.7 |
-1.3 |
-0.9 |
-1.0 |
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Income Before Tax |
4.0 |
14.5 |
8.1 |
6.9 |
2.8 |
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Total Income Tax |
2.2 |
2.6 |
-0.4 |
0.1 |
0.1 |
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Income After Tax |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
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Net Income Before Extraord Items |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
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Net Income |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
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Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Income Available to Common Excl Extraord Items |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
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Income Available to Common Incl Extraord Items |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
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Basic/Primary Weighted Average Shares |
8.7 |
8.7 |
8.7 |
8.7 |
8.9 |
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Basic EPS Excl Extraord Items |
0.21 |
1.36 |
0.97 |
0.78 |
0.31 |
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Basic/Primary EPS Incl Extraord Items |
0.21 |
1.36 |
0.97 |
0.78 |
0.31 |
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Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Diluted Net Income |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
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Diluted Weighted Average Shares |
8.7 |
8.7 |
8.7 |
8.7 |
8.9 |
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Diluted EPS Excl Extraord Items |
0.21 |
1.36 |
0.97 |
0.78 |
0.31 |
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Diluted EPS Incl Extraord Items |
0.21 |
1.36 |
0.97 |
0.78 |
0.31 |
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Dividends per Share - Common Stock Primary Issue |
0.06 |
0.06 |
0.06 |
0.03 |
0.02 |
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Gross Dividends - Common Stock |
0.5 |
0.6 |
0.8 |
0.2 |
0.2 |
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Interest Expense, Supplemental |
0.2 |
0.3 |
0.4 |
0.5 |
0.6 |
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Depreciation, Supplemental |
5.0 |
4.4 |
2.9 |
3.3 |
2.7 |
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Total Special Items |
-0.1 |
4.5 |
1.0 |
1.2 |
0.6 |
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Normalized Income Before Tax |
3.9 |
19.0 |
9.1 |
8.1 |
3.5 |
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Effect of Special Items on Income Taxes |
0.0 |
0.8 |
0.4 |
0.0 |
0.0 |
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Inc Tax Ex Impact of Sp Items |
2.1 |
3.4 |
0.0 |
0.1 |
0.1 |
|
Normalized Income After Tax |
1.8 |
15.6 |
9.1 |
8.0 |
3.4 |
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Normalized Inc. Avail to Com. |
1.8 |
15.6 |
9.1 |
8.0 |
3.4 |
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Basic Normalized EPS |
0.21 |
1.79 |
1.05 |
0.92 |
0.38 |
|
Diluted Normalized EPS |
0.21 |
1.79 |
1.05 |
0.92 |
0.38 |
|
Rental Expenses |
- |
- |
0.2 |
1.0 |
0.9 |
|
Advertising Expense, Supplemental |
3.1 |
3.1 |
2.1 |
1.9 |
1.7 |
|
Research & Development Exp, Supplemental |
2.2 |
6.6 |
5.8 |
5.1 |
5.0 |
|
Reported Operating Profit |
3.8 |
20.0 |
18.4 |
11.6 |
6.3 |
|
Reported Ordinary Profit |
3.9 |
19.0 |
9.1 |
8.1 |
3.3 |
|
Normalized EBIT |
3.8 |
20.0 |
18.4 |
11.6 |
5.6 |
|
Normalized EBITDA |
8.7 |
24.4 |
21.3 |
14.9 |
8.3 |
|
Current Tax - Total |
0.1 |
5.7 |
- |
- |
- |
|
Current Tax - Total |
0.1 |
5.7 |
- |
- |
- |
|
Deferred Tax - Total |
2.1 |
-3.2 |
- |
- |
- |
|
Deferred Tax - Total |
2.1 |
-3.2 |
- |
- |
- |
|
Income Tax - Total |
2.2 |
2.6 |
- |
- |
- |
|
Interest Cost - Domestic |
0.2 |
0.2 |
- |
0.1 |
0.1 |
|
Service Cost - Domestic |
0.5 |
0.5 |
- |
0.4 |
0.4 |
|
Expected Return on Assets - Domestic |
-0.1 |
-0.1 |
- |
0.0 |
0.0 |
|
Actuarial Gains and Losses - Domestic |
0.0 |
0.0 |
- |
0.1 |
0.0 |
|
Domestic Pension Plan Expense |
0.6 |
0.6 |
- |
0.6 |
0.5 |
|
Total Pension Expense |
0.6 |
0.6 |
- |
0.6 |
0.5 |
|
Discount Rate - Domestic |
1.00% |
2.00% |
- |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
0.75% |
0.75% |
- |
0.75% |
0.75% |
|
Total Plan Interest Cost |
0.2 |
0.2 |
- |
0.1 |
0.1 |
|
Total Plan Service Cost |
0.5 |
0.5 |
- |
0.4 |
0.4 |
|
Total Plan Expected Return |
-0.1 |
-0.1 |
- |
0.0 |
0.0 |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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|
25-Mar-2013 |
25-Mar-2012 |
25-Mar-2011 |
25-Mar-2010 |
25-Mar-2009 |
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UpdateType/Date |
Updated |
Updated |
Updated |
Updated |
Updated |
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Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
94.545 |
82.455417 |
81.13 |
92.69 |
97.72 |
|
Auditor |
Yusei Audit Corporation |
Yusei Audit Corporation |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
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Auditor Opinion |
Unqualified |
Unqualified with Explanation |
Unqualified |
Unqualified with Explanation |
Unqualified |
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Cash & Equivalents |
15.5 |
16.8 |
10.4 |
13.2 |
6.7 |
|
Cash and Short Term Investments |
15.5 |
16.8 |
10.4 |
13.2 |
6.7 |
|
Accounts Receivable - Trade, Gross |
23.1 |
34.2 |
28.0 |
22.2 |
19.6 |
|
Provision for Doubtful Accounts |
-0.2 |
-0.1 |
-0.1 |
0.0 |
-0.1 |
|
Trade Accounts Receivable - Net |
22.9 |
34.1 |
27.9 |
22.1 |
19.5 |
|
Notes Receivable - Short Term |
- |
- |
7.1 |
5.4 |
3.1 |
|
Other Receivables |
2.9 |
5.0 |
1.3 |
1.4 |
0.7 |
|
Total Receivables, Net |
25.8 |
39.1 |
36.3 |
28.9 |
23.4 |
|
Inventories - Finished Goods |
14.1 |
14.1 |
15.8 |
14.4 |
16.5 |
|
Inventories - Work In Progress |
0.8 |
1.5 |
1.0 |
1.3 |
2.0 |
|
Inventories - Raw Materials |
1.8 |
3.0 |
1.3 |
1.2 |
1.8 |
|
Inventories - Other |
- |
- |
- |
0.1 |
0.2 |
|
Total Inventory |
16.8 |
18.6 |
18.1 |
17.0 |
20.4 |
|
Prepaid Expenses |
- |
- |
0.2 |
0.1 |
0.1 |
|
Deferred Income Tax - Current Asset |
0.0 |
2.9 |
0.5 |
0.0 |
- |
|
Other Current Assets |
9.4 |
0.0 |
0.2 |
0.1 |
0.1 |
|
Other Current Assets, Total |
9.4 |
2.9 |
0.7 |
0.1 |
0.1 |
|
Total Current Assets |
67.5 |
77.4 |
65.7 |
59.3 |
50.6 |
|
|
|
|
|
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Buildings |
36.1 |
41.7 |
41.1 |
37.4 |
37.1 |
|
Land/Improvements |
12.7 |
14.5 |
14.8 |
12.9 |
12.6 |
|
Machinery/Equipment |
29.1 |
36.3 |
37.8 |
33.5 |
35.5 |
|
Construction in Progress |
0.2 |
0.1 |
0.2 |
0.1 |
0.2 |
|
Leases |
- |
- |
3.6 |
1.6 |
0.2 |
|
Other Property/Plant/Equipment |
7.3 |
4.7 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
85.3 |
97.4 |
97.5 |
85.7 |
85.6 |
|
Accumulated Depreciation |
-59.0 |
-67.8 |
-68.7 |
-61.0 |
-61.3 |
|
Property/Plant/Equipment - Net |
26.4 |
29.6 |
28.8 |
24.7 |
24.3 |
|
Goodwill, Net |
- |
- |
0.0 |
0.0 |
0.0 |
|
Intangibles, Net |
1.3 |
0.9 |
1.0 |
0.3 |
0.3 |
|
LT Investment - Affiliate Companies |
0.0 |
0.0 |
2.5 |
0.0 |
0.0 |
|
LT Investments - Other |
3.6 |
3.2 |
2.0 |
1.3 |
1.1 |
|
Long Term Investments |
3.6 |
3.2 |
4.5 |
1.3 |
1.1 |
|
Note Receivable - Long Term |
- |
- |
- |
0.3 |
0.0 |
|
Other Long Term Assets |
1.5 |
2.9 |
1.3 |
0.7 |
1.0 |
|
Other Long Term Assets, Total |
1.5 |
2.9 |
1.3 |
0.7 |
1.0 |
|
Total Assets |
100.2 |
114.0 |
101.3 |
86.6 |
77.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
2.6 |
4.4 |
3.3 |
2.4 |
2.0 |
|
Accrued Expenses |
0.7 |
1.7 |
4.1 |
3.7 |
2.5 |
|
Notes Payable/Short Term Debt |
3.2 |
1.2 |
3.0 |
14.0 |
20.6 |
|
Current Portion - Long Term Debt/Capital Leases |
8.4 |
6.7 |
6.5 |
5.2 |
3.8 |
|
Customer Advances |
- |
- |
0.1 |
0.1 |
0.1 |
|
Income Taxes Payable |
0.1 |
5.7 |
0.2 |
0.2 |
0.2 |
|
Other Payables |
- |
- |
4.4 |
2.1 |
1.7 |
|
Deferred Income Tax - Current Liability |
1.8 |
- |
- |
- |
- |
|
Other Current Liabilities |
5.4 |
11.8 |
4.3 |
0.2 |
0.5 |
|
Other Current liabilities, Total |
7.3 |
17.4 |
9.0 |
2.7 |
2.4 |
|
Total Current Liabilities |
22.2 |
31.5 |
25.9 |
28.0 |
31.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
7.4 |
8.8 |
10.6 |
8.3 |
5.2 |
|
Capital Lease Obligations |
2.2 |
1.1 |
1.1 |
0.7 |
0.2 |
|
Total Long Term Debt |
9.6 |
9.9 |
11.8 |
9.0 |
5.4 |
|
Total Debt |
21.2 |
17.9 |
21.3 |
28.2 |
29.8 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
- |
- |
0.0 |
0.0 |
0.0 |
|
Deferred Income Tax |
- |
- |
0.0 |
0.0 |
0.0 |
|
Reserves |
0.2 |
0.2 |
- |
- |
- |
|
Pension Benefits - Underfunded |
1.9 |
2.3 |
3.8 |
4.8 |
4.4 |
|
Other Long Term Liabilities |
0.0 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Other Liabilities, Total |
2.1 |
2.7 |
3.9 |
4.9 |
4.4 |
|
Total Liabilities |
34.0 |
44.1 |
41.6 |
41.9 |
41.2 |
|
|
|
|
|
|
|
|
Common Stock |
18.4 |
21.1 |
21.5 |
18.8 |
17.8 |
|
Common Stock |
18.4 |
21.1 |
21.5 |
18.8 |
17.8 |
|
Additional Paid-In Capital |
18.5 |
11.6 |
11.7 |
10.3 |
9.8 |
|
Retained Earnings (Accumulated Deficit) |
25.0 |
37.0 |
26.8 |
16.0 |
8.9 |
|
Treasury Stock - Common |
-0.4 |
-0.5 |
-0.5 |
-0.4 |
-0.4 |
|
Unrealized Gain (Loss) |
0.6 |
0.2 |
0.2 |
0.0 |
0.0 |
|
Translation Adjustment |
0.1 |
0.0 |
- |
- |
- |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Comprehensive Income |
4.0 |
0.6 |
- |
- |
- |
|
Other Equity, Total |
4.2 |
0.5 |
- |
- |
- |
|
Total Equity |
66.2 |
69.9 |
59.7 |
44.7 |
36.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
100.2 |
114.0 |
101.3 |
86.6 |
77.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary Issue |
8.7 |
8.7 |
8.7 |
8.7 |
8.7 |
|
Total Common Shares Outstanding |
8.7 |
8.7 |
8.7 |
8.7 |
8.7 |
|
Treasury Shares - Common Stock Primary Issue |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Employees |
301 |
300 |
294 |
284 |
274 |
|
Number of Common Shareholders |
1,008 |
976 |
914 |
908 |
858 |
|
Deferred Revenue - Current |
- |
- |
0.1 |
0.1 |
0.1 |
|
Total Long Term Debt, Supplemental |
13.7 |
14.5 |
- |
12.8 |
9.0 |
|
Long Term Debt Maturing within 1 Year |
6.3 |
5.7 |
- |
4.5 |
3.8 |
|
Long Term Debt Maturing in Year 2 |
3.7 |
5.1 |
- |
2.7 |
2.7 |
|
Long Term Debt Maturing in Year 3 |
2.0 |
2.1 |
- |
2.5 |
1.1 |
|
Long Term Debt Maturing in Year 4 |
1.3 |
1.0 |
- |
2.4 |
0.8 |
|
Long Term Debt Maturing in Year 5 |
0.4 |
0.6 |
- |
0.7 |
0.6 |
|
Long Term Debt Maturing in 2-3 Years |
5.7 |
7.2 |
- |
5.2 |
3.8 |
|
Long Term Debt Maturing in 4-5 Years |
1.7 |
1.6 |
- |
3.1 |
1.4 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Total Capital Leases, Supplemental |
4.4 |
2.2 |
- |
1.4 |
0.2 |
|
Capital Lease Payments Due in Year 1 |
2.1 |
1.1 |
- |
0.7 |
0.0 |
|
Capital Lease Payments Due in Year 2 |
1.3 |
0.5 |
- |
0.6 |
0.0 |
|
Capital Lease Payments Due in Year 3 |
0.4 |
0.3 |
- |
0.1 |
0.0 |
|
Capital Lease Payments Due in Year 4 |
0.3 |
0.2 |
- |
0.1 |
0.0 |
|
Capital Lease Payments Due in Year 5 |
0.2 |
0.1 |
- |
0.0 |
0.0 |
|
Capital Lease Payments Due in 2-3 Years |
1.7 |
0.8 |
- |
0.6 |
0.1 |
|
Capital Lease Payments Due in 4-5 Years |
0.4 |
0.3 |
- |
0.1 |
0.1 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.1 |
0.0 |
- |
0.0 |
0.0 |
|
Pension Obligation - Domestic |
9.9 |
8.8 |
- |
7.2 |
6.3 |
|
Plan Assets - Domestic |
8.1 |
8.1 |
- |
3.7 |
2.8 |
|
Funded Status - Domestic |
-1.7 |
-0.7 |
- |
-3.5 |
-3.5 |
|
Total Funded Status |
-1.7 |
-0.7 |
- |
-3.5 |
-3.5 |
|
Discount Rate - Domestic |
1.00% |
2.00% |
- |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
0.75% |
0.75% |
- |
0.75% |
0.75% |
|
Accrued Liabilities - Domestic |
-0.3 |
-0.7 |
- |
-3.2 |
-2.9 |
|
Other Assets, Net - Domestic |
1.4 |
-0.1 |
- |
0.2 |
0.6 |
|
Net Assets Recognized on Balance Sheet |
1.0 |
-0.8 |
- |
-3.0 |
-2.3 |
|
Total Plan Obligations |
9.9 |
8.8 |
- |
7.2 |
6.3 |
|
Total Plan Assets |
8.1 |
8.1 |
- |
3.7 |
2.8 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
25-Mar-2013 |
25-Mar-2012 |
25-Mar-2011 |
25-Mar-2010 |
25-Mar-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated |
Updated |
Updated |
Updated |
Updated |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate (Period Average) |
82.781963 |
78.946562 |
85.865738 |
93.022233 |
100.51373 |
|
Auditor |
Yusei Audit Corporation |
Yusei Audit Corporation |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with Explanation |
Unqualified |
Unqualified with Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
4.0 |
14.5 |
8.1 |
6.9 |
2.8 |
|
Depreciation |
5.0 |
4.4 |
2.9 |
3.3 |
2.7 |
|
Depreciation/Depletion |
5.0 |
4.4 |
2.9 |
3.3 |
2.7 |
|
Unusual Items |
0.4 |
0.9 |
0.7 |
1.2 |
0.4 |
|
Other Non-Cash Items |
-4.6 |
-3.2 |
-1.5 |
0.8 |
0.0 |
|
Non-Cash Items |
-4.2 |
-2.3 |
-0.7 |
2.0 |
0.5 |
|
Accounts Receivable |
7.6 |
0.3 |
-3.4 |
-3.6 |
-0.8 |
|
Inventories |
-0.6 |
-0.9 |
1.3 |
4.5 |
-0.2 |
|
Other Assets |
-0.2 |
-1.7 |
-0.1 |
-0.3 |
2.2 |
|
Accounts Payable |
-1.4 |
0.3 |
-1.6 |
-1.6 |
-1.8 |
|
Accrued Expenses |
-0.6 |
0.1 |
0.0 |
0.2 |
0.1 |
|
Other Liabilities |
-1.3 |
-0.1 |
5.1 |
0.8 |
-2.5 |
|
Other Operating Cash Flow |
-5.7 |
2.2 |
-0.4 |
-0.5 |
-0.6 |
|
Changes in Working Capital |
-2.1 |
0.2 |
0.9 |
-0.5 |
-3.6 |
|
Cash from Operating Activities |
2.6 |
16.7 |
11.2 |
11.7 |
2.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-5.1 |
-5.5 |
-3.2 |
-2.8 |
-2.2 |
|
Purchase/Acquisition of Intangibles |
-0.2 |
0.0 |
-0.2 |
-0.1 |
0.0 |
|
Capital Expenditures |
-5.3 |
-5.5 |
-3.4 |
-2.8 |
-2.3 |
|
|
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Sale/Maturity of Investment |
- |
- |
0.0 |
0.1 |
0.1 |
|
Purchase of Investments |
-0.1 |
-1.2 |
-4.6 |
-0.3 |
-0.3 |
|
Other Investing Cash Flow |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
-0.1 |
-1.3 |
-4.4 |
-0.1 |
-0.1 |
|
Cash from Investing Activities |
-5.4 |
-6.8 |
-7.8 |
-3.0 |
-2.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
2.7 |
1.0 |
1.8 |
0.6 |
0.0 |
|
Financing Cash Flow Items |
2.7 |
1.0 |
1.8 |
0.6 |
0.0 |
|
Cash Dividends Paid - Common |
-0.5 |
-0.8 |
-0.4 |
-0.2 |
-0.1 |
|
Total Cash Dividends Paid |
-0.5 |
-0.8 |
-0.4 |
-0.2 |
-0.1 |
|
Repurchase/Retirement of Common |
0.0 |
0.0 |
0.0 |
0.0 |
-0.4 |
|
Common Stock, Net |
0.0 |
0.0 |
0.0 |
0.0 |
-0.4 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
0.0 |
0.0 |
-0.4 |
|
Short Term Debt, Net |
2.4 |
-0.6 |
-10.3 |
-5.9 |
-1.5 |
|
Long Term Debt Issued |
8.1 |
4.4 |
7.0 |
8.1 |
5.0 |
|
Long Term Debt Reduction |
-8.9 |
-7.2 |
-7.3 |
-5.0 |
-4.5 |
|
Long Term Debt, Net |
-0.8 |
-2.7 |
-0.3 |
3.1 |
0.5 |
|
Issuance (Retirement) of Debt, Net |
1.6 |
-3.4 |
-10.6 |
-2.8 |
-1.0 |
|
Cash from Financing Activities |
3.8 |
-3.2 |
-9.2 |
-2.5 |
-1.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
0.9 |
6.8 |
-5.9 |
6.3 |
-1.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
12.2 |
6.0 |
11.4 |
4.3 |
5.5 |
|
Net Cash - Ending Balance |
13.1 |
12.8 |
5.5 |
10.5 |
4.0 |
|
Cash Interest Paid |
0.2 |
0.3 |
0.4 |
0.5 |
0.5 |
|
Cash Taxes Paid |
5.5 |
0.1 |
0.1 |
0.1 |
0.1 |
|
|
25-Mar-2013 |
25-Mar-2012 |
25-Mar-2011 |
25-Mar-2010 |
25-Mar-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated |
Updated |
Updated |
Updated |
Updated |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate (Period Average) |
82.781963 |
78.946562 |
85.865738 |
93.022233 |
100.51373 |
|
Auditor |
Yusei Audit Corporation |
Yusei Audit Corporation |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with Explanation |
Unqualified |
Unqualified with Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Finished goods sales, net |
- |
- |
152.0 |
132.8 |
121.3 |
|
Merchandise sales, net |
- |
- |
0.0 |
0.0 |
0.0 |
|
Net Sales |
149.7 |
190.1 |
- |
- |
- |
|
Total Revenue |
149.7 |
190.1 |
152.0 |
132.9 |
121.3 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
0.0 |
- |
- |
- |
|
Cost-finished goods sold |
- |
- |
99.4 |
94.0 |
90.6 |
|
Cost-merchandise sold |
- |
- |
0.0 |
0.0 |
0.0 |
|
Cost of Sales |
106.2 |
123.6 |
- |
- |
- |
|
Other SGA |
1.9 |
- |
- |
- |
- |
|
Finished goods repair expenses |
- |
3.2 |
- |
- |
- |
|
Provision for Finished goods repair meas |
- |
2.4 |
- |
- |
- |
|
Other Selling/General/Admin. Expense |
- |
0.0 |
- |
- |
- |
|
Shipping Fee |
6.4 |
7.3 |
5.6 |
5.1 |
4.6 |
|
Product repair |
- |
- |
1.5 |
1.5 |
1.9 |
|
Advertising Expenses |
3.1 |
3.1 |
2.1 |
1.9 |
1.7 |
|
Directors'' compensations |
1.2 |
1.5 |
1.3 |
0.8 |
0.6 |
|
Salary |
9.9 |
10.2 |
8.5 |
7.7 |
6.7 |
|
Bonus |
0.9 |
1.6 |
1.6 |
0.8 |
0.7 |
|
Provision for bonuses |
0.5 |
0.9 |
0.7 |
0.7 |
0.6 |
|
Allw.Director Retire |
0.2 |
0.2 |
0.5 |
0.0 |
- |
|
Retirement benefit expenses |
0.4 |
0.4 |
0.4 |
0.3 |
- |
|
Welfare Expenses |
2.0 |
2.2 |
1.9 |
1.4 |
1.5 |
|
Traveling and transportation expenses |
1.3 |
1.6 |
1.1 |
0.8 |
0.9 |
|
Depreciation |
1.0 |
0.9 |
0.6 |
0.5 |
0.5 |
|
Rental expense |
- |
- |
0.2 |
1.0 |
0.9 |
|
Research & Develop |
2.2 |
2.5 |
2.8 |
1.4 |
2.2 |
|
Other |
8.7 |
8.4 |
5.3 |
3.4 |
1.7 |
|
Other Unusual Expense (Income) |
0.0 |
- |
- |
- |
- |
|
Revesal of Provision for Product exchang |
-0.2 |
- |
- |
- |
- |
|
Provision for Product exchange losses |
0.0 |
2.0 |
- |
- |
- |
|
Loss on adjustment for changes of accoun |
0.0 |
0.3 |
- |
- |
- |
|
Provision for Recall loss |
0.0 |
0.3 |
- |
- |
- |
|
Product exchange losses |
0.0 |
0.9 |
- |
- |
- |
|
SP Reversal doubtful accounts |
- |
- |
- |
- |
0.0 |
|
SP Reversal recall loss reserve |
-0.2 |
- |
0.0 |
0.0 |
0.0 |
|
SP Reversal director's retire reserve |
- |
- |
- |
- |
0.0 |
|
SP Other Special Gain |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
SP L on val. inv't. secs. |
- |
- |
0.1 |
0.0 |
0.4 |
|
SP Impairment loss |
0.1 |
0.2 |
0.2 |
0.4 |
0.0 |
|
Recall loss |
0.0 |
0.3 |
0.3 |
0.0 |
- |
|
SP Special Retirement benefit |
- |
- |
- |
- |
0.0 |
|
SP Other Special Loss |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
NOP Retire inventory |
- |
- |
- |
0.0 |
0.1 |
|
NOP Loss Val.Inventory |
- |
- |
- |
0.0 |
0.6 |
|
Total Operating Expense |
145.6 |
174.2 |
134.3 |
121.7 |
116.0 |
|
|
|
|
|
|
|
|
NOP Interest Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
NOP Interest on marketable secs |
- |
- |
0.0 |
0.0 |
0.0 |
|
Foreign exchange gains |
1.5 |
0.9 |
- |
- |
- |
|
NOP Dividend Income |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Insurance premiums refunded cancellation |
0.3 |
- |
- |
- |
- |
|
Other Non-Operating Income (Expense) |
0.0 |
0.0 |
- |
- |
- |
|
NOP Fixed asset rental income |
- |
- |
0.0 |
0.0 |
0.0 |
|
NOP Management guidance Income |
- |
- |
- |
0.0 |
0.0 |
|
NOP Other Non-Op Inc. |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
NOP Interest expense |
-0.2 |
-0.3 |
-0.4 |
-0.5 |
-0.6 |
|
NOP Loss Sales Note |
- |
- |
0.0 |
0.0 |
-0.1 |
|
NOP Sales Discount |
-1.5 |
-1.8 |
-1.2 |
-1.0 |
-1.0 |
|
NOP Exchange Loss |
- |
- |
-7.6 |
-2.2 |
-0.8 |
|
NOP Other Non-Op Exp. |
-0.1 |
0.0 |
-0.2 |
0.0 |
0.0 |
|
SP G on sales of investment securities |
- |
- |
- |
0.0 |
0.1 |
|
SP Gain on sales of noncurrent assets |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP G on sale of subsidiaries' stocks |
- |
- |
- |
- |
0.0 |
|
SP Loss Dispose F.Asset |
-0.3 |
-0.3 |
-0.4 |
-0.8 |
-0.2 |
|
Net Income Before Taxes |
4.0 |
14.5 |
8.1 |
6.9 |
2.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
2.2 |
2.6 |
-0.4 |
0.1 |
0.1 |
|
Net Income After Taxes |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
|
Net Income |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Income Statement |
- |
0.0 |
- |
- |
- |
|
Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
8.7 |
8.7 |
8.7 |
8.7 |
8.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.21 |
1.36 |
0.97 |
0.78 |
0.31 |
|
Basic EPS Including ExtraOrdinary Items |
0.21 |
1.36 |
0.97 |
0.78 |
0.31 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
1.8 |
11.9 |
8.5 |
6.8 |
2.8 |
|
Diluted Weighted Average Shares |
8.7 |
8.7 |
8.7 |
8.7 |
8.9 |
|
Diluted EPS Excluding ExtraOrd Items |
0.21 |
1.36 |
0.97 |
0.78 |
0.31 |
|
Diluted EPS Including ExtraOrd Items |
0.21 |
1.36 |
0.97 |
0.78 |
0.31 |
|
DPS-Ordinary Shares |
0.06 |
0.06 |
0.06 |
0.03 |
0.02 |
|
Gross Dividends - Common Stock |
0.5 |
0.6 |
0.8 |
0.2 |
0.2 |
|
Normalized Income Before Taxes |
3.9 |
19.0 |
9.1 |
8.1 |
3.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2.1 |
3.4 |
0.0 |
0.1 |
0.1 |
|
Normalized Income After Taxes |
1.8 |
15.6 |
9.1 |
8.0 |
3.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1.8 |
15.6 |
9.1 |
8.0 |
3.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.21 |
1.79 |
1.05 |
0.92 |
0.38 |
|
Diluted Normalized EPS |
0.21 |
1.79 |
1.05 |
0.92 |
0.38 |
|
Advertising Expenses |
3.1 |
3.1 |
- |
- |
- |
|
Advertisement expenses |
- |
- |
2.1 |
1.9 |
1.7 |
|
Rental expense |
- |
- |
0.2 |
1.0 |
0.9 |
|
Total Research and Development Expenses |
- |
2.5 |
- |
- |
- |
|
Research and Development Expenses-Cost |
- |
4.1 |
- |
- |
- |
|
Research & Development Exp(SGA) |
2.2 |
- |
2.8 |
1.4 |
2.2 |
|
Research & Development Exp(COGS) |
- |
- |
3.0 |
3.7 |
2.8 |
|
Interest Expenses |
0.2 |
0.3 |
- |
- |
- |
|
Interest Expense |
- |
- |
0.4 |
0.5 |
0.6 |
|
BC - Depreciation of Fixed Assets |
5.0 |
- |
- |
- |
- |
|
Amort of Tangible Assets-Current Portion |
- |
4.4 |
- |
- |
- |
|
Depreciation |
- |
- |
2.9 |
3.3 |
2.7 |
|
Income taxes-current |
0.1 |
5.7 |
- |
- |
- |
|
Current Tax - Total |
0.1 |
5.7 |
- |
- |
- |
|
Income taxes-deferred |
2.1 |
-3.2 |
- |
- |
- |
|
Deferred Tax - Total |
2.1 |
-3.2 |
- |
- |
- |
|
Income Tax - Total |
2.2 |
2.6 |
- |
- |
- |
|
Reported Operating Profit |
3.8 |
20.0 |
18.4 |
11.6 |
6.3 |
|
Reported ordinary profit |
3.9 |
19.0 |
9.1 |
8.1 |
3.3 |
|
Service Cost |
0.5 |
0.5 |
- |
- |
- |
|
Service cost |
- |
- |
- |
0.4 |
0.4 |
|
Interest Cost |
0.2 |
0.2 |
- |
- |
- |
|
Interest cost |
- |
- |
- |
0.1 |
0.1 |
|
Expected Return on Pension Assets |
-0.1 |
-0.1 |
- |
- |
- |
|
Expected return on plan asset |
- |
- |
- |
0.0 |
0.0 |
|
Recognized Actuarial Gain and Loss |
0.0 |
0.0 |
- |
- |
- |
|
Actuarial G/L |
- |
- |
- |
0.1 |
0.0 |
|
Domestic Pension Plan Expense |
0.6 |
0.6 |
- |
0.6 |
0.5 |
|
Total Pension Expense |
0.6 |
0.6 |
- |
0.6 |
0.5 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.00% |
2.00% |
- |
- |
- |
|
Discount Rate |
- |
- |
- |
2.00% |
2.00% |
|
Expected return on assets(MIN)-Retiremen |
0.75% |
0.75% |
- |
- |
- |
|
Expected Rate of Return |
- |
- |
- |
0.75% |
0.75% |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
25-Mar-2013 |
25-Mar-2012 |
25-Mar-2011 |
25-Mar-2010 |
25-Mar-2009 |
|
UpdateType/Date |
Updated |
Updated |
Updated |
Updated |
Updated |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
94.545 |
82.455417 |
81.13 |
92.69 |
97.72 |
|
Auditor |
Yusei Audit Corporation |
Yusei Audit Corporation |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with Explanation |
Unqualified |
Unqualified with Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposit |
15.5 |
16.8 |
10.4 |
13.2 |
6.7 |
|
Notes and accounts receivable-trade |
23.1 |
34.2 |
- |
- |
- |
|
Note receivable |
- |
- |
7.1 |
5.4 |
3.1 |
|
Account receivable |
- |
- |
28.0 |
22.2 |
19.6 |
|
Inventories-merchandise&finished goods |
14.1 |
14.1 |
15.8 |
14.4 |
- |
|
Inventories - work-in-process |
0.8 |
1.5 |
1.0 |
1.3 |
2.0 |
|
Raw materials and supplies |
1.8 |
3.0 |
1.3 |
- |
- |
|
Finished goods |
- |
- |
- |
- |
16.5 |
|
Raw material |
- |
- |
- |
1.2 |
1.8 |
|
Supply inventory |
- |
- |
- |
0.1 |
0.2 |
|
Prepaid Expense |
- |
- |
0.2 |
0.1 |
0.1 |
|
Other |
2.9 |
5.0 |
- |
- |
- |
|
Fee reimbursable |
- |
- |
- |
- |
0.1 |
|
Deferred tax assets |
0.0 |
2.9 |
0.5 |
0.0 |
- |
|
Other receivable |
- |
- |
1.3 |
1.4 |
0.5 |
|
Forward exchange contracts |
9.4 |
- |
- |
- |
- |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other |
- |
- |
0.2 |
0.1 |
0.1 |
|
Allw.Doubt.Acct |
-0.2 |
-0.1 |
-0.1 |
0.0 |
-0.1 |
|
Total Current Assets |
67.5 |
77.4 |
65.7 |
59.3 |
50.6 |
|
|
|
|
|
|
|
|
Buildings And Structures |
36.1 |
41.7 |
- |
- |
- |
|
Buildings, gross |
- |
- |
39.1 |
35.8 |
35.4 |
|
Accum Dep & Impairment Loss of Buildings |
-28.7 |
-32.7 |
- |
- |
- |
|
Buildings-depreciation |
- |
- |
-31.2 |
-29.0 |
-28.2 |
|
Structures, gross |
- |
- |
2.0 |
1.7 |
1.7 |
|
Structures-depreciation |
- |
- |
-1.6 |
-1.4 |
-1.5 |
|
Machinery & equipment, gross |
6.8 |
9.8 |
10.6 |
10.0 |
10.0 |
|
Machinery/equipment-depreciation |
-6.4 |
-9.2 |
-10.0 |
-9.4 |
-9.2 |
|
Vehicles, gross |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Accumulated depreciation-Vehicles |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Metallic mold |
17.5 |
21.2 |
22.3 |
19.1 |
20.8 |
|
Accumulated Depreciation-Metallic mold |
-15.9 |
-18.6 |
-20.0 |
-17.1 |
-18.2 |
|
Tools, furniture and fixtures |
4.7 |
5.2 |
4.8 |
4.3 |
4.7 |
|
Tools/equipments/fixtures-depreciation |
-3.8 |
-4.2 |
-4.0 |
-3.7 |
-4.1 |
|
Lease assets, gross |
- |
- |
3.6 |
1.6 |
0.2 |
|
Accumulated depreciation-Lease assets |
-4.0 |
-3.0 |
-1.8 |
-0.3 |
0.0 |
|
Land |
12.7 |
14.5 |
14.8 |
12.9 |
12.6 |
|
Const in Prog. |
0.2 |
0.1 |
0.2 |
0.1 |
0.2 |
|
Lease assets |
7.3 |
4.7 |
- |
- |
- |
|
Other Total Intangible Assets, Net |
0.0 |
0.0 |
- |
- |
- |
|
Goodwill |
- |
- |
0.0 |
0.0 |
0.0 |
|
Land leasing right |
- |
- |
0.1 |
0.1 |
0.0 |
|
Software |
- |
- |
0.2 |
0.1 |
0.1 |
|
Telephone subscription rights |
- |
- |
- |
0.1 |
0.1 |
|
Lease assets, intangible |
0.9 |
0.5 |
0.6 |
0.1 |
0.1 |
|
Other |
0.4 |
0.3 |
0.2 |
0.0 |
0.0 |
|
Invest Secs. |
3.6 |
3.2 |
2.0 |
1.2 |
1.1 |
|
Investment in closely-held capital |
- |
- |
- |
0.0 |
0.0 |
|
Invt Secs Noncons, Asc, Affd Cos |
0.0 |
0.0 |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
0.0 |
0.0 |
- |
- |
- |
|
Investment partners-nonconsol.affiliates |
- |
- |
2.5 |
0.0 |
0.0 |
|
Claims bankruptcy |
- |
- |
- |
0.3 |
0.0 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Long Term Assets |
- |
0.0 |
- |
- |
- |
|
Other Other Long Term Assets |
1.5 |
2.9 |
- |
- |
- |
|
LT Prepaid Exp. |
- |
- |
- |
0.1 |
0.2 |
|
Guarantee deposits |
- |
- |
- |
0.3 |
0.3 |
|
Other |
- |
- |
1.3 |
0.6 |
0.5 |
|
Allowance for doubtful accounts |
-0.1 |
0.0 |
0.0 |
-0.3 |
0.0 |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Property/Plant/Equipment, Total - Net |
0.0 |
- |
- |
- |
- |
|
Other Transportation Equipment, Net |
- |
0.0 |
- |
- |
- |
|
Other PPE under Capital Lease, Net |
- |
0.0 |
- |
- |
- |
|
Other Metallic mold, net |
- |
0.0 |
- |
- |
- |
|
Other PPE,Net |
- |
0.0 |
- |
- |
- |
|
Other Plant/machinery, Net |
- |
0.0 |
- |
- |
- |
|
Total Assets |
100.2 |
114.0 |
101.3 |
86.6 |
77.3 |
|
|
|
|
|
|
|
|
Note payable |
- |
- |
0.9 |
2.7 |
4.3 |
|
Notes and accounts payable-trade |
2.6 |
4.4 |
- |
- |
- |
|
Trade accounts payable |
- |
- |
3.3 |
2.4 |
2.0 |
|
Short-term loans payable |
3.2 |
1.2 |
1.8 |
11.2 |
16.2 |
|
Current portion of long-term loans payab |
5.1 |
5.2 |
4.8 |
4.1 |
3.4 |
|
Current Protion of Corp. Bond |
1.2 |
0.5 |
0.1 |
0.4 |
0.4 |
|
Current lease obligations |
2.1 |
1.1 |
1.5 |
0.7 |
0.0 |
|
Other accounts payable |
- |
- |
4.4 |
2.1 |
1.7 |
|
Sales Tax Pay. |
0.0 |
0.3 |
0.4 |
0.8 |
0.2 |
|
Accrued Expense |
- |
- |
2.4 |
1.8 |
1.5 |
|
Income Tax Pay. |
0.1 |
5.7 |
0.2 |
0.2 |
0.2 |
|
Advance received |
- |
- |
0.1 |
0.1 |
0.1 |
|
Deposits received |
- |
- |
0.3 |
0.1 |
0.1 |
|
Provision for recall loss |
0.0 |
0.3 |
- |
- |
- |
|
Provision for Finished goods repair meas |
0.6 |
2.3 |
- |
- |
- |
|
Provision for Product exchange losses |
0.0 |
1.9 |
- |
- |
- |
|
Rounding adjustment Liability |
0.0 |
0.0 |
- |
- |
- |
|
Allowance Bonus |
0.7 |
1.4 |
1.3 |
1.1 |
0.9 |
|
Reserve Recall Loss |
- |
- |
0.0 |
0.0 |
0.0 |
|
Notes payable-building |
- |
- |
- |
0.0 |
0.0 |
|
Foreing exchange forward |
- |
- |
3.9 |
0.0 |
0.2 |
|
Other |
4.8 |
7.2 |
0.4 |
0.2 |
0.2 |
|
Deferred tax liabilities |
1.8 |
- |
- |
- |
- |
|
Total Current Liabilities |
22.2 |
31.5 |
25.9 |
28.0 |
31.4 |
|
|
|
|
|
|
|
|
Corporate Bond |
2.9 |
1.3 |
0.7 |
0.8 |
0.2 |
|
Long-term loans payable |
4.5 |
7.5 |
9.9 |
7.5 |
5.0 |
|
Lease obligations |
2.2 |
1.1 |
1.1 |
0.7 |
0.2 |
|
Total Long Term Debt |
9.6 |
9.9 |
11.8 |
9.0 |
5.4 |
|
|
|
|
|
|
|
|
Deferred Tax |
- |
- |
0.0 |
0.0 |
0.0 |
|
Rsrv.Accr.Retire |
0.3 |
0.7 |
1.6 |
3.2 |
2.9 |
|
Provision for directors'' retirement ben |
1.6 |
1.6 |
2.2 |
1.5 |
1.5 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Liability |
- |
0.0 |
- |
- |
- |
|
Other |
0.0 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Asset Retirement Obligations |
0.2 |
0.2 |
- |
- |
- |
|
Total Liabilities |
34.0 |
44.1 |
41.6 |
41.9 |
41.2 |
|
|
|
|
|
|
|
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Common Stock |
18.4 |
21.1 |
21.5 |
18.8 |
17.8 |
|
Capital Surplus |
18.5 |
11.6 |
- |
- |
- |
|
Legal capital surplus |
- |
- |
11.7 |
10.3 |
9.8 |
|
Total retained earnings |
25.0 |
37.0 |
- |
- |
- |
|
Deferred retained surplus |
- |
- |
26.8 |
16.0 |
8.9 |
|
Deferred gains or losses on hedges |
4.0 |
0.6 |
- |
- |
- |
|
Valuation difference on available-for-sa |
0.6 |
0.2 |
0.2 |
0.0 |
0.0 |
|
Treasury stocks |
-0.4 |
-0.5 |
-0.5 |
-0.4 |
-0.4 |
|
Foreign Currency Translation Adjustment |
0.1 |
0.0 |
- |
- |
- |
|
Total Equity |
66.2 |
69.9 |
59.7 |
44.7 |
36.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
100.2 |
114.0 |
101.3 |
86.6 |
77.3 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
8.7 |
8.7 |
8.7 |
8.7 |
8.7 |
|
Total Common Shares Outstanding |
8.7 |
8.7 |
8.7 |
8.7 |
8.7 |
|
T/S-Ordinary Shares |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Advance received |
- |
- |
0.1 |
0.1 |
0.1 |
|
Number Of Employees |
301 |
300 |
- |
- |
- |
|
Full-Time Employees |
- |
- |
294 |
284 |
274 |
|
Total Number of Shareholders |
1,008 |
976 |
- |
- |
- |
|
Number of Common Shareholders |
- |
- |
914 |
908 |
858 |
|
Bond Redemption Amounts within A Year |
1.2 |
0.5 |
- |
- |
- |
|
Loans Payable Maturing within a Year |
5.1 |
5.2 |
- |
- |
- |
|
Long Term Debt Maturing Within 1 Year |
- |
- |
- |
4.5 |
3.8 |
|
Bond Redemp Amts over a Yr within 2 Yrs |
1.0 |
0.6 |
- |
- |
- |
|
Lns Pble Maturing over a Yr within 2 Yrs |
2.8 |
4.5 |
- |
- |
- |
|
Long Term Debt Maturing Within 2 Years |
- |
- |
- |
2.7 |
2.7 |
|
Bond Redemp Amts over 2 Yrs within 3 Yrs |
0.8 |
0.4 |
- |
- |
- |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
1.2 |
1.7 |
- |
- |
- |
|
Long Term Debt Maturing Within 3 Years |
- |
- |
- |
2.5 |
1.1 |
|
Bond Redemp Amts over 3 Yrs within 4 Yrs |
0.7 |
0.2 |
- |
- |
- |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
0.6 |
0.8 |
- |
- |
- |
|
Long Term Debt Maturing Within 4 Years |
- |
- |
- |
2.4 |
0.8 |
|
Over Four Years And Within Five Years |
0.3 |
- |
- |
- |
- |
|
Bond Redemp Amts over 4 Yrs within 5 Yrs |
- |
0.1 |
- |
- |
- |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
0.0 |
0.5 |
- |
- |
- |
|
Long Term Debt Maturing Within 5 Years |
- |
- |
- |
0.7 |
0.6 |
|
Total Long Term Debt, Supplemental |
13.7 |
14.5 |
- |
12.8 |
9.0 |
|
Capital Lease Maturing within a Year |
2.1 |
1.1 |
- |
- |
- |
|
Capital Lease Payments due within 1 Yr |
- |
- |
- |
0.7 |
0.0 |
|
Cap Lease Maturg over a Yr within 2 Yrs |
1.3 |
0.5 |
- |
- |
- |
|
Capital Lease Payments due within 2 Yr |
- |
- |
- |
0.6 |
0.0 |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
0.4 |
0.3 |
- |
- |
- |
|
Capital Lease Payments due within 3 Yr |
- |
- |
- |
0.1 |
0.0 |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.3 |
0.2 |
- |
- |
- |
|
Capital Lease Payments due within 4 Yr |
- |
- |
- |
0.1 |
0.0 |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.2 |
0.1 |
- |
- |
- |
|
Capital Lease Payments due within 5 Yr |
- |
- |
- |
0.0 |
0.0 |
|
Capital lease - remaining |
0.1 |
- |
- |
- |
- |
|
Capital Lease Remaining |
- |
0.0 |
- |
- |
- |
|
Capital Lease Payments Remaining |
- |
- |
- |
0.0 |
0.0 |
|
Total Capital Leases, Supplemental |
4.4 |
2.2 |
- |
1.4 |
0.2 |
|
Projected Retirement Benefit Obligation |
9.9 |
8.8 |
- |
- |
- |
|
Pension obligation |
- |
- |
- |
7.2 |
6.3 |
|
Plan Assets at Fair Value |
8.1 |
8.1 |
- |
- |
- |
|
Fair value of plan asset |
- |
- |
- |
3.7 |
2.8 |
|
Unfunded Retirement Benefit Obligation |
-1.7 |
- |
- |
- |
- |
|
Funded status |
- |
-0.7 |
- |
-3.5 |
-3.5 |
|
Total Funded Status |
-1.7 |
-0.7 |
- |
-3.5 |
-3.5 |
|
Discount Rate(MIN)-Retirement Benefit |
1.00% |
2.00% |
- |
- |
- |
|
Discount rate |
- |
- |
- |
2.00% |
2.00% |
|
Expected return on assets(MIN)-Retiremen |
0.75% |
0.75% |
- |
- |
- |
|
Expected rate of return |
- |
- |
- |
0.75% |
0.75% |
|
Unrecognized Actuarial Gain and Loss |
1.4 |
-0.1 |
- |
- |
- |
|
Unrecog. actuarial G/L |
- |
- |
- |
0.2 |
0.6 |
|
Accrued Retirement Benefits |
-0.3 |
-0.7 |
- |
- |
- |
|
Accrued pension |
- |
- |
- |
-3.2 |
-2.9 |
|
Net Assets Recognized on Balance Sheet |
1.0 |
-0.8 |
- |
-3.0 |
-2.3 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
25-Mar-2013 |
25-Mar-2012 |
25-Mar-2011 |
25-Mar-2010 |
25-Mar-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated |
Updated |
Updated |
Updated |
Updated |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate (Period Average) |
82.781963 |
78.946562 |
85.865738 |
93.022233 |
100.51373 |
|
Auditor |
Yusei Audit Corporation |
Yusei Audit Corporation |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with Explanation |
Unqualified |
Unqualified with Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income,Bf.Tax |
4.0 |
14.5 |
8.1 |
6.9 |
2.8 |
|
Depreciation |
5.0 |
4.4 |
2.9 |
3.3 |
2.7 |
|
Other Loss Gain |
0.0 |
- |
- |
- |
- |
|
Loss On Adjustment For Changes Of Accoun |
0.0 |
0.3 |
- |
- |
- |
|
Impairment loss |
0.1 |
0.2 |
0.2 |
0.4 |
0.0 |
|
Increase(decrease)in provision for finis |
-1.6 |
2.4 |
- |
- |
- |
|
Increase (decrease) in provision for pro |
-1.9 |
2.0 |
- |
- |
- |
|
Increase (decrease) in allowance for dou |
0.1 |
0.1 |
-0.3 |
0.3 |
-0.6 |
|
Increase (decrease) in provision for bon |
-0.6 |
0.1 |
0.0 |
0.2 |
0.1 |
|
Increase (decrease) in provision for ret |
-0.3 |
-0.8 |
-2.0 |
0.2 |
0.1 |
|
Increase (decrease) in provision for dir |
0.2 |
-0.6 |
0.5 |
0.0 |
0.0 |
|
Increase(decrease) in Provision for reca |
-0.3 |
0.3 |
0.0 |
0.0 |
0.0 |
|
Reserve for loss on guarantees |
- |
- |
- |
- |
0.0 |
|
Increase (decrease) in other liabilities |
-1.3 |
-0.1 |
- |
- |
- |
|
Inc/Dec in Guarantee Liability |
- |
- |
0.0 |
0.0 |
- |
|
Interest/Divid. Inc. |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Interest Expense |
0.2 |
0.3 |
0.4 |
0.5 |
0.6 |
|
Foreign exchange losses (gains) |
-0.9 |
-6.8 |
0.0 |
0.0 |
0.0 |
|
Gain |
- |
- |
0.0 |
0.0 |
-0.1 |
|
L on val. inv't. secs. |
- |
- |
0.1 |
0.0 |
0.4 |
|
Gain |
- |
- |
- |
- |
0.0 |
|
Gain |
- |
- |
0.0 |
0.0 |
0.0 |
|
Loss (gain) on disposal of noncurrent as |
0.3 |
0.3 |
0.4 |
0.8 |
0.2 |
|
Decrease (increase) in notes and account |
7.6 |
0.3 |
-3.4 |
-3.6 |
-0.8 |
|
Decrease (increase) in inventories |
-0.6 |
-0.9 |
1.3 |
4.5 |
-0.2 |
|
Decrease (increase) in other assets |
-0.2 |
-1.7 |
- |
- |
- |
|
Other Crrt. Asset |
- |
- |
-0.1 |
-0.3 |
2.2 |
|
Increase (decrease) in notes and account |
-1.4 |
0.3 |
-1.6 |
-1.6 |
-1.8 |
|
Other Crrt.Liability |
- |
- |
5.1 |
0.8 |
-2.5 |
|
Other Operating Cash Flow |
0.0 |
- |
- |
- |
- |
|
Other loss (gain) |
- |
0.0 |
- |
- |
- |
|
Increase In Cash And Cash Equivalents Fr |
0.0 |
2.5 |
- |
- |
- |
|
Rounding adjustment Cash flow |
- |
0.0 |
- |
- |
- |
|
Interest/Divid. Rcvd |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Interest Paid |
-0.2 |
-0.3 |
-0.4 |
-0.5 |
-0.5 |
|
Inc. Tax Paid |
-5.5 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Cash from Operating Activities |
2.6 |
16.7 |
11.2 |
11.7 |
2.4 |
|
|
|
|
|
|
|
|
Payments into time deposits |
0.0 |
-0.1 |
-1.5 |
0.0 |
-0.1 |
|
Time Deposit Collected |
- |
- |
0.0 |
0.1 |
0.0 |
|
Purchase of property, plant and equipmen |
-5.1 |
-5.5 |
-3.2 |
-2.8 |
-2.2 |
|
Proceeds from sales of property, plant a |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Purchase intangible asset |
-0.2 |
0.0 |
-0.2 |
-0.1 |
0.0 |
|
Purchase Invest.Secs. |
-0.1 |
-1.1 |
-0.5 |
-0.1 |
-0.1 |
|
Sales Invest Secs. |
- |
- |
- |
0.0 |
0.1 |
|
Purchase of stocks of affiliates |
0.0 |
0.0 |
-2.3 |
0.0 |
- |
|
|
- |
- |
- |
- |
0.0 |
|
Other Investments Payments |
0.0 |
-0.1 |
- |
- |
- |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Other Invest Purch. |
- |
- |
-0.2 |
-0.2 |
-0.1 |
|
Other Invest Sales |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-5.4 |
-6.8 |
-7.8 |
-3.0 |
-2.4 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
2.4 |
-0.6 |
-10.3 |
-5.9 |
-1.5 |
|
Repayment of long-term loans payable |
-6.1 |
-5.1 |
-5.6 |
-4.2 |
-4.1 |
|
Proceeds from long-term loans payable |
4.5 |
3.2 |
7.0 |
7.0 |
5.0 |
|
Proceeds from sale and leaseback |
2.7 |
1.0 |
1.8 |
0.6 |
0.0 |
|
Proceeds from issuance of bonds |
3.6 |
1.3 |
0.0 |
1.1 |
0.0 |
|
Redemption Bond |
-0.8 |
-0.3 |
-0.5 |
-0.5 |
-0.4 |
|
Repay lease obligation |
-2.0 |
-1.8 |
-1.2 |
-0.2 |
0.0 |
|
Purchase of treasuries |
0.0 |
0.0 |
0.0 |
0.0 |
-0.4 |
|
Dividend |
-0.5 |
-0.8 |
-0.4 |
-0.2 |
-0.1 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Cash from Financing Activities |
3.8 |
-3.2 |
-9.2 |
-2.5 |
-1.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
0.9 |
6.8 |
-5.9 |
6.3 |
-1.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
12.2 |
6.0 |
11.4 |
4.3 |
5.5 |
|
Net Cash - Ending Balance |
13.1 |
12.8 |
5.5 |
10.5 |
4.0 |
|
Cash Interest Paid |
0.2 |
0.3 |
0.4 |
0.5 |
0.5 |
|
Cash Taxes Paid |
5.5 |
0.1 |
0.1 |
0.1 |
0.1 |
|
|
|
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.83.64 |
INFORMATION DETAILS
|
Report
Prepared by : |
|
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%)