MIRA INFORM REPORT
|
Report Date : |
11.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
ROLAND
CORPORATION |
|
|
|
|
Registered Office : |
2036-1, Nakagawa, Hosoe-cho, Kita-ku, Hamamatsu-Shi,
431-1304 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
18.04.1972 |
|
|
|
|
Legal Form : |
Public Parent |
|
|
|
|
Line of Business : |
Development, manufacture and sale of electronic musical
instruments and computer peripheral products. |
|
|
|
|
No. of Employees : |
3,060 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Company Name and Address
Roland Corporation |
|
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
Business Description
Roland Corporation is a company mainly engaged in the
development, manufacture and sale of electronic musical instruments and
computer peripheral products. The Company operates in two business segments.
The Electronic Musical Instrument segment is engaged in the development,
manufacture and sale of electronic musical instruments, guitar-related
electronic instruments, household electronic musical instruments, visual and
acoustic equipments and computer music- related equipments, as well as the
development, manufacture and sale of electronic pianos, electronic accordions,
pipe organs, electronic organs and software used for music production. The
Computer Peripheral Equipment segment is involved in the development,
manufacture and sale of printers, blotters and other work machines. On March 1,
2013, the Company sold stakes in a Brazil-based subsidiary to Roland DG Corp.
For the three months ended 30 June 2013, Roland Corporation revenues increased
4% to Y18.73B. Net income applicable to common stockholders increased from
Y35.2M to Y226.6M. Revenues reflect Business Computer Peripherals segment
increase of 13% to Y8.87B. Net income benefited from Business Computer
Peripherals segment income increase from Y25.5M to Y856.3M.
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
ISIC Rev 4: |
|
|
NACE Rev 2: |
|
|
NAICS 2012: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
Key Executives
|
Name |
Title |
|
President, Representative Director |
|
|
Toshiyuki Arakura |
Executive Officer |
|
Senior Executive Officer, Director |
|
|
President |
|
|
Independent Director |
Significant Developments
|
Topic |
#* |
Most Recent
Headline |
Date |
|
2 |
23-Sep-2013 |
||
|
1 |
Roland Corp
Lowers Consolidated Full-year Forecast for FY 2013 |
8-Feb-2013 |
|
|
1 |
Roland Corp
Announces Result of Early-retirement Program and Expects Extraordinary Loss
for FY 2013 |
16-Jan-2013 |
|
|
1 |
15-Feb-2013 |
||
|
3 |
30-Jul-2013 |
* Number of significant
developments within the last 12 months
News
|
Title |
Date |
|
Innovation
lies at roots of Roland DGA |
6-Nov-2013 |
|
Roland 1H
Grp Net Pft Y803.00M Vs Y223.00M Loss Yr Earlier |
6-Nov-2013 |
|
Roland
releases Windows 8.1 and |
4-Nov-2013 |
|
Roland
Releases New Drivers |
4-Nov-2013 |
|
Roland releases
Windows 8.1 and Mac OSX 10.9 Mavericks |
1-Nov-2013 |
|
Roland
releases Windows 8.1 and Mac OSX 10.9 Mavericks drivers : |
1-Nov-2013 |
Financial Summary
|
As of 30-Jun-2013 |
||||||||||||||||||||||||
|
Stock Snapshot
|
Traded: Tokyo Stock Exchange:
7944 |
|||||||||||||||||||||||||
|
As of 18-Oct-2013 Financials in: JPY |
|||||||||||||||||||||||||
|
|||||||||||||||||||||||||
|
1 -
Profit & Loss Item Exchange Rate: USD 1 = JPY 82.97047
2 - Balance Sheet Item Exchange Rate:
USD 1 = JPY 94.08855
|
|
|
|
|
|||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Roland Corporation is a company mainly engaged in the
development, manufacture and sale of electronic musical instruments and computer
peripheral products. The Company operates in two business segments. The
Electronic Musical Instrument segment is engaged in the development,
manufacture and sale of electronic musical instruments, guitar-related
electronic instruments, household electronic musical instruments, visual and
acoustic equipments and computer music- related equipments, as well as the
development, manufacture and sale of electronic pianos, electronic accordions,
pipe organs, electronic organs and software used for music production. The
Computer Peripheral Equipment segment is involved in the development,
manufacture and sale of printers, blotters and other work machines. On March 1,
2013, the Company sold stakes in a Brazil-based subsidiary to Roland DG Corp.
For the three months ended 30 June 2013, Roland Corporation revenues increased
4% to Y18.73B. Net income applicable to common stockholders increased from
Y35.2M to Y226.6M. Revenues reflect Business Computer Peripherals segment
increase of 13% to Y8.87B. Net income benefited from Business Computer
Peripherals segment income increase from Y25.5M to Y856.3M.
More Business Descriptions
Manufacture, marketing, import and export of electronic musical instruments, electronic equipment and software
Electronic Musical Instruments, Audio Products & Computer Peripherals Distr & Mfr
Roland Corporation (Roland) is a Japan based musical
instruments manufacturer. The company develops, manufactures and sells
electronic musical instruments and computer peripheral products. Its product
portfolio comprises pianos, organs, accordions, keyboards, synthesizers, sound
modules, computer music, drums and percussion, effect processors, guitar gears,
bass gears, amplifiers, speaker, mixers, recorders, DJ gears, samplers,
VJ/video presenters, video equipments, pro audio and accessories. The company
offers musical instruments under brands names such as Roland and BOSS. It also
offers computer music-related software under the brand name of Cakewalk. It
also provides classical organs under the RODGERS brand.The company conducts its
business operations through two reportable segments, namely, Electronic
Instruments and Computer Peripherals. The company, through the Electronic
Musical Instruments segment, offers electronic pianos, electronic accordions,
pipe organs, electronic organs and software used for music production. This
segment is further sub-divided into five sub-segments, namely, Electronic
musical instruments, Guitar-related equipment, Home electronic musical
instruments, Video, audio and computer music equipment. During 2010-11, the
company's Electronic musical instruments sub-segment generated revenue of
JPY15,458m, followed by Guitar-related equipment (JPY8,830m); Home electronic
musical instruments (JPY10,645m); Video, audio and computer music equipment
(JPY5,211m) and Others (JPY2,168m). For the fiscal year ended March 2012, the
company reported revenue of JPY42,314m, from the Electronic Musical Instruments
segment, contributing 56.55% of the total revenue.Roland, through its Computer Peripherals
segment, offers printers, plotters and modeling machines. For the fiscal year
ended March 2011, the company reported revenue of JPY32,510m, from the Computer
Peripherals segment, contributing 43.45% of the total revenue.The company's
digital pianos and organs offer the look and feel of traditional pianos with
convenient modern features. Roland also offers full range of keyboards and
synthesizers. The company’s electronic percussion instruments provide
drummers with a great-sounding, flexible alternative to traditional acoustic
drums. Its Grooveboxes and DJ Products are extensively used by DJs, remixers
and dance music producers through out the world. Roland’s hard disk audio
recording is used on hundreds of albums by famous artists. Roland is also
engaged in the manufacture of a comprehensive line of popular guitar products
under the brands Roland and BOSS. Roland operates across the UK, Belgium,
Germany, Denmark, Russia, Switzerland, Hungary, Italy, Spain, China, Taiwan,
Malaysia, Australia, Japan, the US, Canada and Brazil. The company's operations
are supported by its subsidiaries including development facilities,
manufacturing facilities, manufacturing and sales facilities, and sales
facilities. The development facility of the company is BOSS Corporation. The
company’s manufacturing facilities include Roland Europe S.p.A., Roland
Taiwan Electronic Music Corp. and Roland Electronics (Suzhou) Co., Ltd. The
manufacturing and sales facilities include Roland DG Corporation, Atelier
Vision Corporation, Rodgers Instruments Corporation and Cakewalk, Inc. The
sales facilities of the company are: Roland Corporation U.S., Roland Systems
Group U.S., Roland Canada Ltd and Roland Brasil Importacao, Exportacao, Comecio
Representacao e Servicos Ltda. In the Europe; Roland (U. K.) Ltd., Roland
Elektronische Musikinstrumente HmbH., Roland (Switzerland) AG, Electronic
Musical Instruments Roland Scandinavia A/S, Roland Central Europe N.V., Roland
Italy S.p.A., Roland Systems Group EMEA, S.L., Roland East Europe Ltd., and
Roland Music LLC. In the Asia & Oceania; Roland Taiwan Enterprise Co.,
Ltd., Roland (Shanghai) Logistics Co., Ltd., Roland Asia Pacific Sdn. Bhd., and
Roland Corporation Australia Pty Ltd.The company operates through four
reportable geographic segments, namely, Japan, North America, Europe and
Others. For the fiscal year ended March 2012, Roland through Europe contributed
33.34% of the company's total revenue, followed by North America with 25.8%,
Others with 23.03%, and Japan with 17.76%.
Roland Corporation (Roland) is a musical instrument manufacturing company. The company's involved in the development, manufacture and sale of electronic musical instruments, electronic equipment and computer peripheral products. Roland's key products are pianos, organs, accordions, keyboards, synthesizers, sound modules, computer music, drums and percussion, and effect processors. The company also offers products such as guitar gears, bass gears, amplifiers, speakers, mixers, recorders, DJ gears, samplers, VJ/ video presenters, video equipment, pro audio and accessories. It operates through several sales partners and subsidiaries. It markets its products under the Boss, Rodgers, Cakewalk, and Roland brand names in Japan and others. The company operates in the UK, Belgium, Germany, Denmark, Russia, Switzerland, Hungary, Italy, Spain, China, Taiwan, Malaysia, Australia, Japan, the US, Canada and Brazil. Roland is headquartered in Hamamatsu-Shizuoka, Japan.The company reported revenues of (Yen) JPY 72,310.14 million during the fiscal year ended March 2013, a decrease of 3.36% from 2012. The operating loss of the company was JPY 2,200.45 million during the fiscal year 2013, as against an operating income of JPY 570.16 million during 2012. The net loss of the company was JPY 4,066.26 million during the fiscal year 2013, as compared to a net loss of JPY 1,930.57 million during 2012.
Musical Instruments Manufacturing
|
|
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||
|
|
Corporate Structure News
|
|||||||||||||||||||||||||||
|
Total Corporate Family Members: 36 |
|
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Hamamatsu-Shi |
Japan |
Miscellaneous
Manufacturing |
871.5 |
3,060 |
|
|
Subsidiary |
Suzhou |
China |
Miscellaneous
Manufacturing |
|
200 |
|
|
Subsidiary |
Suzhou, Jiangsu |
China |
Miscellaneous
Manufacturing |
|
200 |
|
|
Subsidiary |
Martinsicuro, TE |
Italy |
Miscellaneous
Manufacturing |
29.6 |
153 |
|
|
Roland Brasil
Importação, Exportação, Comércio, Representação E Serviços Ltda. |
Subsidiary |
Cotia, Sao Paulo |
Brazil |
Miscellaneous
Wholesale |
|
150 |
|
Subsidiary |
Los Angeles, CA |
United States |
Sporting Goods and
Recreation Stores |
107.2 |
125 |
|
|
Subsidiary |
Irvine, CA |
United States |
Machinery Wholesale |
27.5 |
80 |
|
|
Subsidiary |
Swansea |
United Kingdom |
Miscellaneous
Wholesale |
30.3 |
79 |
|
|
Subsidiary |
Hillsboro, OR |
United States |
Furniture
Manufacturing |
28.2 |
65 |
|
|
Roland
Elektronische Musikinstrumente Handelsgesellschaft mbH |
Subsidiary |
Nauheim, Hessen |
Germany |
Miscellaneous
Manufacturing |
40.2 |
50 |
|
Subsidiary |
Oevel |
Belgium |
Miscellaneous
Wholesale |
37.5 |
48 |
|
|
Subsidiary |
Barcelona |
Spain |
Machinery Wholesale |
|
40 |
|
|
Subsidiary |
Copenhagen |
Denmark |
Miscellaneous
Wholesale |
|
40 |
|
|
Subsidiary |
Copenhagen |
Denmark |
Audio and Video
Equipment Manufacturing |
27.3 |
30 |
|
|
Subsidiary |
Barcelona |
Spain |
Electronics
Wholesale |
4.0 |
30 |
|
|
Subsidiary |
Vila Nova De Gaia,
Vila Nova De Gaia |
Portugal |
Miscellaneous Store
Retailers |
0.6 |
8 |
|
|
Subsidiary |
Taipei |
Taiwan |
Electronics
Wholesale |
|
30 |
|
|
Subsidiary |
Oevel |
Belgium |
Computer, Office
Equipment and Software Merchant Wholesalers |
40.5 |
27 |
|
|
Subsidiary |
Cerdanyola Del Valles,
Barcelona |
Spain |
Machinery and
Equipment Manufacturing |
15.0 |
27 |
|
|
Subsidiary |
Dee Why West, NSW |
Australia |
Audio and Video Equipment
Manufacturing |
10.4 |
26 |
|
|
Subsidiary |
Budapest |
Hungary |
Audio and Video
Equipment Manufacturing |
|
25 |
|
|
Subsidiary |
Milan |
Italy |
Miscellaneous
Manufacturing |
13.1 |
23 |
|
|
Subsidiary |
Richmond, BC |
Canada |
Miscellaneous
Manufacturing |
|
20 |
|
|
Branch |
Mississauga, ON |
Canada |
Miscellaneous
Wholesale |
3.7 |
3 |
|
|
Roland East
Europe Hangszer Nagykereskedelmi Egyszemélyes Kft |
Subsidiary |
Törökbálint |
Hungary |
Miscellaneous
Wholesale |
|
18 |
|
Subsidiary |
Itingen |
Switzerland |
Sporting Goods and
Recreation Stores |
|
15 |
|
|
Subsidiary |
Petaling Jaya,
Selangor |
Malaysia |
Sporting Goods and
Recreation Stores |
2.1 |
10 |
|
|
Subsidiary |
Auckland |
New Zealand |
Sporting Goods and
Recreation Stores |
|
1 |
|
|
Subsidiary |
Bellingham, WA |
United States |
Electronics
Wholesale |
|
|
|
|
Subsidiary |
Sao Paulo |
Brazil |
Sporting Goods and
Recreation Stores |
|
|
|
|
Subsidiary |
Warsaw |
Poland |
Miscellaneous
Wholesale |
|
|
|
|
Subsidiary |
Neuilly-sur-Seine |
France |
Electronics
Wholesale |
|
|
|
|
Facility |
Matsumoto, Nagano |
Japan |
Miscellaneous
Manufacturing |
|
|
|
|
Subsidiary |
Moscow |
Russian Federation |
Miscellaneous
Wholesale |
|
|
|
|
Facility |
Hamamatsu, Shizuoka |
Japan |
Miscellaneous
Manufacturing |
|
|
|
|
Subsidiary |
Copenhagen |
Denmark |
Electronics
Wholesale |
|
|
Competitors Report
|
CompanyName |
Location |
Employees |
Ownership |
|
Kawai Musical Instruments Manufacturing |
Hamamatsu-Shi, Japan |
2,812 |
Public |
|
Steinway Musical Instruments, Inc. |
Waltham, Massachusetts, United States |
1,698 |
Public |
|
YAMAHA CORPORATION |
Hamamatsu-Shi, Japan |
19,688 |
Public |
Executives Report
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Roland Corp Raises Consolidated Mid-year Forecast for FY 2014 Oct 25, 2013
|
|
Roland Corp to Sell United States-based Subsidiary Sep 23, 2013
|
|
Roland Corp Offers Off-floor Distribution of Shares Jul 30, 2013
|
|
Roland Corp to Offer Off-floor Distribution of Shares Jul 29, 2013
|
|
Roland Corp to Offer Off-floor Distribution of Shares Jul 22, 2013
|
|
Roland Corp Amends Consolidated Full-year Outlook for FY 2013 Apr 26, 2013
|
|
Roland Corp Announces Treasury Stock Retirement Mar 22, 2013
|
|
Roland DG Corp to Acquire Stakes in Roland DG Brasil Importatpo e Exportatpo Ltda. from Roland Corp Feb 26, 2013
|
|
Roland Corp Appoints New President Feb 15, 2013
|
|
Roland Corp Lowers Consolidated Full-year Forecast for FY 2013 Feb 08, 2013
|
|
Roland Corp Announces Result of Early-retirement Program and Expects Extraordinary Loss for FY 2013 Jan 16, 2013
|
News
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 |
Deloitte Touche
Tohmatsu LLC |
Deloitte Touche
Tohmatsu LLC |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
871.5 |
947.6 |
913.4 |
807.3 |
1,000.2 |
|
Revenue |
871.5 |
947.6 |
913.4 |
807.3 |
1,000.2 |
|
Total Revenue |
871.5 |
947.6 |
913.4 |
807.3 |
1,000.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
526.2 |
570.3 |
546.9 |
500.0 |
574.3 |
|
Cost of Revenue, Total |
526.2 |
570.3 |
546.9 |
500.0 |
574.3 |
|
Gross Profit |
345.3 |
377.3 |
366.5 |
307.4 |
425.9 |
|
|
|
|
|
|
|
|
Selling/General/Administrative
Expense |
139.5 |
140.5 |
132.0 |
119.8 |
139.5 |
|
Labor & Related Expense |
176.6 |
183.1 |
169.0 |
158.3 |
160.8 |
|
Advertising Expense |
34.6 |
42.7 |
39.0 |
38.1 |
51.7 |
|
Total Selling/General/Administrative Expenses |
350.8 |
366.3 |
340.0 |
316.1 |
352.0 |
|
Amortization of Acquisition Costs |
- |
- |
0.0 |
3.3 |
0.0 |
|
Depreciation/Amortization |
- |
- |
0.0 |
3.3 |
0.0 |
|
Restructuring Charge |
17.5 |
- |
- |
- |
- |
|
Impairment-Assets Held for Use |
4.2 |
0.2 |
- |
- |
- |
|
Impairment-Assets Held for Sale |
-0.6 |
0.2 |
1.3 |
0.5 |
9.1 |
|
Other Unusual Expense (Income) |
0.0 |
3.5 |
-0.5 |
-0.9 |
-1.0 |
|
Unusual Expense (Income) |
21.1 |
3.8 |
0.8 |
-0.4 |
8.2 |
|
Other Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Other Operating Expenses, Total |
0.0 |
0.0 |
- |
- |
- |
|
Total Operating Expense |
898.0 |
940.4 |
887.7 |
819.0 |
934.5 |
|
|
|
|
|
|
|
|
Operating Income |
-26.5 |
7.2 |
25.7 |
-11.6 |
65.8 |
|
|
|
|
|
|
|
|
Interest Expense
- Non-Operating |
-0.9 |
-0.8 |
-0.7 |
-2.5 |
-2.0 |
|
Interest Expense, Net
Non-Operating |
-0.9 |
-0.8 |
-0.7 |
-2.5 |
-2.0 |
|
Interest
Income - Non-Operating |
1.0 |
1.3 |
1.3 |
1.7 |
3.8 |
|
Investment
Income - Non-Operating |
1.9 |
-3.3 |
-9.4 |
5.3 |
-10.5 |
|
Interest/Investment Income -
Non-Operating |
2.9 |
-2.0 |
-8.1 |
7.0 |
-6.6 |
|
Interest Income (Expense) - Net Non-Operating Total |
2.0 |
-2.7 |
-8.8 |
4.4 |
-8.6 |
|
Gain (Loss) on Sale of Assets |
-0.5 |
-0.2 |
-1.6 |
-0.2 |
-0.6 |
|
Other Non-Operating Income
(Expense) |
-6.2 |
-6.6 |
-5.7 |
-1.5 |
-5.1 |
|
Other, Net |
-6.2 |
-6.6 |
-5.7 |
-1.5 |
-5.1 |
|
Income Before Tax |
-31.1 |
-2.2 |
9.6 |
-8.9 |
51.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
13.4 |
16.9 |
13.8 |
15.5 |
20.8 |
|
Income After Tax |
-44.5 |
-19.1 |
-4.3 |
-24.4 |
30.6 |
|
|
|
|
|
|
|
|
Minority Interest |
-4.5 |
-5.3 |
-3.9 |
1.9 |
-20.2 |
|
Net Income Before Extraord Items |
-49.0 |
-24.4 |
-8.1 |
-22.5 |
10.4 |
|
Net Income |
-49.0 |
-24.4 |
-8.1 |
-22.5 |
10.4 |
|
|
|
|
|
|
|
|
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 |
-49.0 |
-24.4 |
-8.1 |
-22.5 |
10.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-49.0 |
-24.4 |
-8.1 |
-22.5 |
10.4 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
23.8 |
23.8 |
23.8 |
24.9 |
25.1 |
|
Basic EPS Excl Extraord Items |
-2.06 |
-1.03 |
-0.34 |
-0.90 |
0.42 |
|
Basic/Primary EPS Incl Extraord Items |
-2.06 |
-1.03 |
-0.34 |
-0.90 |
0.42 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-49.0 |
-24.4 |
-8.1 |
-22.5 |
10.4 |
|
Diluted Weighted Average Shares |
23.8 |
23.8 |
23.8 |
24.9 |
25.1 |
|
Diluted EPS Excl Extraord Items |
-2.06 |
-1.03 |
-0.34 |
-0.90 |
0.42 |
|
Diluted EPS Incl Extraord Items |
-2.06 |
-1.03 |
-0.34 |
-0.90 |
0.42 |
|
Dividends per Share - Common Stock Primary Issue |
0.15 |
0.25 |
0.29 |
0.22 |
0.30 |
|
Gross Dividends - Common Stock |
3.6 |
6.0 |
6.9 |
5.3 |
7.5 |
|
Interest Expense, Supplemental |
0.9 |
0.8 |
0.7 |
2.5 |
2.0 |
|
Depreciation, Supplemental |
25.8 |
29.8 |
28.0 |
30.1 |
31.9 |
|
Total Special Items |
24.8 |
5.1 |
3.1 |
5.1 |
9.9 |
|
Normalized Income Before Tax |
-6.3 |
2.9 |
12.7 |
-3.8 |
61.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
7.5 |
1.4 |
0.8 |
-0.1 |
3.6 |
|
Inc Tax Ex Impact of Sp Items |
20.9 |
18.3 |
14.7 |
15.4 |
24.4 |
|
Normalized Income After Tax |
-27.3 |
-15.4 |
-2.0 |
-19.2 |
37.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-31.8 |
-20.8 |
-5.9 |
-17.3 |
16.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-1.34 |
-0.87 |
-0.25 |
-0.69 |
0.67 |
|
Diluted Normalized EPS |
-1.34 |
-0.87 |
-0.25 |
-0.69 |
0.67 |
|
Amort of Acquisition Costs, Supplemental |
3.2 |
1.1 |
0.7 |
5.3 |
1.1 |
|
Advertising Expense, Supplemental |
34.6 |
42.7 |
39.0 |
38.1 |
51.7 |
|
Research & Development Exp, Supplemental |
76.9 |
82.8 |
79.5 |
66.6 |
67.4 |
|
Reported Operating Profit |
-5.4 |
11.0 |
26.5 |
-8.7 |
73.9 |
|
Reported Ordinary Profit |
-9.1 |
1.7 |
10.6 |
-5.8 |
60.2 |
|
Normalized EBIT |
-5.4 |
11.1 |
26.5 |
-12.0 |
73.9 |
|
Normalized EBITDA |
23.5 |
42.0 |
55.2 |
23.3 |
107.0 |
|
Current Tax - Total |
15.1 |
10.7 |
- |
- |
- |
|
Current Tax - Total |
15.1 |
10.7 |
- |
- |
- |
|
Deferred Tax - Total |
-1.7 |
6.2 |
- |
- |
- |
|
Deferred Tax - Total |
-1.7 |
6.2 |
- |
- |
- |
|
Income Tax - Total |
13.4 |
16.9 |
- |
- |
- |
|
Interest Cost - Domestic |
2.4 |
3.1 |
2.7 |
2.4 |
2.1 |
|
Service Cost - Domestic |
7.4 |
6.9 |
6.2 |
5.5 |
4.8 |
|
Prior Service Cost - Domestic |
-1.1 |
-1.1 |
-1.0 |
-0.9 |
-0.9 |
|
Expected Return on Assets - Domestic |
-2.7 |
-2.8 |
-2.5 |
-2.0 |
-2.1 |
|
Actuarial Gains and Losses - Domestic |
5.3 |
3.2 |
3.0 |
5.2 |
2.1 |
|
Other Pension, Net - Domestic |
- |
5.6 |
- |
- |
- |
|
Domestic Pension Plan Expense |
11.3 |
14.9 |
8.4 |
10.1 |
6.1 |
|
Defined Contribution Expense - Domestic |
5.4 |
- |
4.9 |
4.4 |
4.8 |
|
Total Pension Expense |
16.6 |
14.9 |
13.2 |
14.5 |
10.9 |
|
Discount Rate - Domestic |
1.80% |
1.80% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
2.4 |
3.1 |
2.7 |
2.4 |
2.1 |
|
Total Plan Service Cost |
7.4 |
6.9 |
6.2 |
5.5 |
4.8 |
|
Total Plan Expected Return |
-2.7 |
-2.8 |
-2.5 |
-2.0 |
-2.1 |
|
Total Plan Other Expense |
- |
5.6 |
- |
- |
- |
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 |
Deloitte Touche Tohmatsu
LLC |
Deloitte Touche
Tohmatsu LLC |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
185.5 |
180.7 |
236.3 |
219.0 |
232.4 |
|
Short Term Investments |
- |
- |
- |
0.0 |
1.4 |
|
Cash and Short Term Investments |
185.5 |
180.7 |
236.3 |
219.0 |
233.7 |
|
Accounts
Receivable - Trade, Gross |
108.9 |
119.3 |
114.6 |
107.2 |
103.8 |
|
Provision
for Doubtful Accounts |
-3.7 |
-3.9 |
-4.9 |
-4.2 |
-4.7 |
|
Trade Accounts Receivable - Net |
105.2 |
115.4 |
109.7 |
103.0 |
99.1 |
|
Total Receivables, Net |
105.2 |
115.4 |
109.7 |
103.0 |
99.1 |
|
Inventories - Finished Goods |
172.9 |
182.1 |
183.9 |
156.7 |
186.6 |
|
Inventories - Work In Progress |
3.5 |
8.5 |
6.7 |
3.4 |
4.1 |
|
Inventories - Raw Materials |
45.5 |
55.2 |
50.2 |
40.1 |
40.8 |
|
Total Inventory |
222.0 |
245.8 |
240.8 |
200.2 |
231.5 |
|
Deferred Income Tax - Current
Asset |
13.2 |
15.9 |
17.5 |
13.9 |
23.7 |
|
Other Current Assets |
24.3 |
36.2 |
45.5 |
45.4 |
53.9 |
|
Other Current Assets, Total |
37.5 |
52.2 |
63.0 |
59.3 |
77.7 |
|
Total Current Assets |
550.1 |
594.1 |
649.8 |
581.6 |
642.0 |
|
|
|
|
|
|
|
|
Buildings |
226.2 |
252.4 |
262.6 |
224.0 |
209.8 |
|
Land/Improvements |
86.6 |
95.7 |
101.0 |
83.7 |
76.8 |
|
Machinery/Equipment |
152.2 |
172.8 |
170.5 |
153.6 |
142.0 |
|
Construction
in Progress |
1.4 |
1.0 |
1.2 |
0.3 |
2.4 |
|
Property/Plant/Equipment - Gross |
466.4 |
521.9 |
535.4 |
461.6 |
431.1 |
|
Accumulated Depreciation |
-275.5 |
-306.9 |
-306.0 |
-269.0 |
-239.1 |
|
Property/Plant/Equipment - Net |
190.9 |
215.0 |
229.4 |
192.6 |
192.0 |
|
Goodwill, Net |
9.0 |
5.1 |
1.1 |
1.4 |
2.1 |
|
Intangibles, Net |
12.2 |
14.4 |
14.0 |
16.2 |
19.3 |
|
LT Investment - Affiliate
Companies |
4.5 |
10.5 |
8.0 |
- |
- |
|
LT Investments - Other |
- |
- |
17.1 |
30.4 |
36.4 |
|
Long Term Investments |
4.5 |
10.5 |
25.0 |
30.4 |
36.4 |
|
Note Receivable - Long Term |
0.6 |
0.4 |
0.4 |
6.5 |
11.5 |
|
Deferred Income Tax - Long Term
Asset |
10.2 |
5.3 |
5.4 |
7.5 |
10.4 |
|
Other Long Term Assets |
44.5 |
49.2 |
29.5 |
37.9 |
36.8 |
|
Other Long Term Assets, Total |
54.7 |
54.5 |
34.9 |
45.4 |
47.2 |
|
Total Assets |
822.0 |
893.9 |
954.6 |
874.1 |
950.6 |
|
|
|
|
|
|
|
|
Accounts Payable |
28.3 |
39.6 |
47.9 |
37.5 |
34.6 |
|
Accrued Expenses |
11.4 |
15.1 |
15.0 |
12.3 |
12.0 |
|
Notes Payable/Short Term Debt |
45.9 |
9.7 |
9.3 |
4.5 |
96.3 |
|
Current Portion - Long Term Debt/Capital Leases |
4.3 |
3.1 |
0.0 |
0.5 |
0.7 |
|
Income Taxes Payable |
3.2 |
2.3 |
10.3 |
2.0 |
3.0 |
|
Deferred Income Tax - Current
Liability |
0.4 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Other Current Liabilities |
64.9 |
57.1 |
65.0 |
55.7 |
51.0 |
|
Other Current liabilities, Total |
68.5 |
59.5 |
75.4 |
57.8 |
54.0 |
|
Total Current Liabilities |
158.3 |
127.0 |
147.7 |
112.5 |
197.6 |
|
|
|
|
|
|
|
|
Long Term Debt |
6.4 |
0.1 |
3.2 |
2.8 |
0.0 |
|
Total Long Term Debt |
6.4 |
0.1 |
3.2 |
2.8 |
0.0 |
|
Total Debt |
56.6 |
12.9 |
12.5 |
7.7 |
97.1 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
7.8 |
6.2 |
2.5 |
3.6 |
7.3 |
|
Deferred Income Tax |
7.8 |
6.2 |
2.5 |
3.6 |
7.3 |
|
Minority Interest |
168.7 |
195.7 |
199.2 |
181.4 |
175.2 |
|
Pension Benefits - Underfunded |
8.6 |
5.7 |
4.0 |
1.7 |
0.0 |
|
Other Long Term Liabilities |
27.1 |
23.3 |
23.5 |
22.8 |
21.7 |
|
Other Liabilities, Total |
35.7 |
29.1 |
27.5 |
24.5 |
21.7 |
|
Total Liabilities |
376.9 |
358.2 |
380.1 |
324.8 |
401.9 |
|
|
|
|
|
|
|
|
Common Stock |
98.6 |
112.6 |
111.9 |
99.3 |
93.9 |
|
Common Stock |
98.6 |
112.6 |
111.9 |
99.3 |
93.9 |
|
Additional Paid-In Capital |
114.8 |
131.1 |
130.3 |
115.6 |
109.4 |
|
Retained Earnings (Accumulated Deficit) |
293.0 |
410.2 |
436.9 |
399.8 |
407.6 |
|
Treasury Stock - Common |
-0.5 |
-21.5 |
-21.3 |
-18.9 |
-7.0 |
|
Unrealized Gain (Loss) |
-13.0 |
-17.8 |
-18.6 |
-14.3 |
-14.7 |
|
Translation Adjustment |
-47.7 |
-78.9 |
-64.6 |
-32.1 |
-40.5 |
|
Other Equity |
0.0 |
0.0 |
- |
- |
- |
|
Other Equity, Total |
-47.7 |
-78.9 |
-64.6 |
-32.1 |
-40.5 |
|
Total Equity |
445.1 |
535.7 |
574.6 |
549.3 |
548.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
822.0 |
893.9 |
954.6 |
874.1 |
950.6 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
23.8 |
23.8 |
23.8 |
23.8 |
25.1 |
|
Total Common Shares Outstanding |
23.8 |
23.8 |
23.8 |
23.8 |
25.1 |
|
Treasury Shares - Common Stock Primary Issue |
0.1 |
1.8 |
1.8 |
1.8 |
0.5 |
|
Employees |
3,060 |
3,163 |
3,115 |
2,699 |
2,708 |
|
Number of Common Shareholders |
4,839 |
4,945 |
4,854 |
5,169 |
5,039 |
|
Total Long Term Debt, Supplemental |
10.9 |
3.2 |
3.2 |
3.2 |
0.7 |
|
Long Term Debt Maturing within 1 Year |
4.5 |
3.1 |
0.0 |
0.5 |
0.7 |
|
Long Term Debt Maturing in Year 2 |
4.3 |
0.1 |
3.1 |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 3 |
2.1 |
0.0 |
0.1 |
2.7 |
0.0 |
|
Long Term Debt Maturing in Year 4 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 5 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
6.4 |
0.1 |
3.1 |
2.7 |
0.0 |
|
Long Term Debt Maturing in 4-5 Years |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Capital Leases, Supplemental |
2.0 |
1.5 |
1.2 |
1.5 |
1.3 |
|
Capital Lease Payments Due in Year 1 |
1.0 |
0.3 |
0.3 |
0.3 |
0.2 |
|
Capital Lease Payments Due in Year 2 |
0.3 |
0.2 |
0.2 |
0.3 |
0.2 |
|
Capital Lease Payments Due in Year 3 |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Capital Lease Payments Due in Year 4 |
0.6 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Capital Lease Payments Due in Year 5 |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Capital Lease Payments Due in 2-3 Years |
0.4 |
0.5 |
0.3 |
0.4 |
0.3 |
|
Capital Lease Payments Due in 4-5 Years |
0.6 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.4 |
0.5 |
0.6 |
0.7 |
|
Total Operating Leases, Supplemental |
- |
- |
27.9 |
30.8 |
24.1 |
|
Operating Lease Payments Due in Year 1 |
- |
- |
6.1 |
5.8 |
4.1 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
- |
- |
21.8 |
24.9 |
20.0 |
|
Pension Obligation - Domestic |
123.1 |
135.2 |
118.3 |
99.6 |
89.8 |
|
Plan Assets - Domestic |
106.3 |
107.9 |
105.0 |
90.5 |
75.1 |
|
Funded Status - Domestic |
-16.8 |
-27.3 |
-13.3 |
-9.1 |
-14.7 |
|
Total Funded Status |
-16.8 |
-27.3 |
-13.3 |
-9.1 |
-14.7 |
|
Discount Rate - Domestic |
1.80% |
1.80% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Prepaid Benefits - Domestic |
- |
- |
- |
- |
2.5 |
|
Accrued Liabilities - Domestic |
-8.6 |
-5.7 |
-4.0 |
-1.7 |
- |
|
Other Assets, Net - Domestic |
8.2 |
21.5 |
9.3 |
7.4 |
17.2 |
|
Net Assets Recognized on Balance Sheet |
-0.4 |
15.8 |
5.3 |
5.7 |
19.7 |
|
Total Plan Obligations |
123.1 |
135.2 |
118.3 |
99.6 |
89.8 |
|
Total Plan Assets |
106.3 |
107.9 |
105.0 |
90.5 |
75.1 |
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 |
Deloitte Touche
Tohmatsu LLC |
Deloitte Touche
Tohmatsu LLC |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-31.1 |
-2.2 |
9.6 |
-8.9 |
51.4 |
|
Depreciation |
25.8 |
29.8 |
28.0 |
30.1 |
31.9 |
|
Depreciation/Depletion |
25.8 |
29.8 |
28.0 |
30.1 |
31.9 |
|
Amortization of Acquisition Costs |
3.2 |
1.1 |
0.7 |
5.3 |
1.1 |
|
Amortization |
3.2 |
1.1 |
0.7 |
5.3 |
1.1 |
|
Unusual Items |
22.0 |
0.5 |
0.4 |
0.7 |
9.7 |
|
Equity in Net Earnings (Loss) |
- |
- |
0.0 |
0.1 |
-0.2 |
|
Other Non-Cash Items |
1.0 |
-2.7 |
4.3 |
-3.7 |
1.7 |
|
Non-Cash Items |
23.0 |
-2.2 |
4.8 |
-2.9 |
11.3 |
|
Accounts Receivable |
-0.7 |
-0.3 |
-7.5 |
2.0 |
1.6 |
|
Inventories |
10.2 |
-9.5 |
-26.2 |
57.7 |
-35.1 |
|
Other Assets |
11.9 |
- |
- |
- |
- |
|
Accounts Payable |
-14.7 |
-6.6 |
16.1 |
0.5 |
8.8 |
|
Other Operating Cash Flow |
-9.8 |
-12.9 |
5.7 |
8.3 |
-54.1 |
|
Changes in Working Capital |
-3.0 |
-29.2 |
-12.0 |
68.5 |
-78.8 |
|
Cash from Operating Activities |
17.9 |
-2.7 |
31.1 |
92.1 |
17.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-19.9 |
-16.6 |
-13.6 |
-10.6 |
-30.3 |
|
Purchase/Acquisition of
Intangibles |
-4.2 |
-5.4 |
-3.4 |
-3.4 |
-6.0 |
|
Capital Expenditures |
-24.1 |
-21.9 |
-17.0 |
-14.0 |
-36.3 |
|
Sale of Fixed Assets |
4.0 |
6.6 |
0.4 |
0.5 |
0.9 |
|
Sale/Maturity of Investment |
21.2 |
8.8 |
4.8 |
16.7 |
13.9 |
|
Purchase of Investments |
-32.5 |
-31.0 |
-9.9 |
-13.1 |
-12.3 |
|
Other Investing Cash Flow |
-1.1 |
-5.2 |
1.3 |
6.7 |
4.8 |
|
Other Investing Cash Flow Items, Total |
-8.4 |
-20.8 |
-3.4 |
10.7 |
7.2 |
|
Cash from Investing Activities |
-32.5 |
-42.7 |
-20.4 |
-3.3 |
-29.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-5.0 |
-5.1 |
-4.3 |
-7.0 |
-10.3 |
|
Financing Cash Flow Items |
-5.0 |
-5.1 |
-4.3 |
-7.0 |
-10.3 |
|
Cash Dividends Paid - Common |
-5.0 |
-6.8 |
-6.2 |
-6.8 |
-8.1 |
|
Total Cash Dividends Paid |
-5.0 |
-6.8 |
-6.2 |
-6.8 |
-8.1 |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
0.0 |
-11.6 |
0.0 |
|
Common Stock, Net |
0.0 |
0.0 |
0.0 |
-11.6 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
0.0 |
-11.6 |
0.0 |
|
Short Term Debt, Net |
40.1 |
1.2 |
3.0 |
-96.3 |
88.5 |
|
Long Term
Debt Issued |
12.1 |
- |
0.1 |
2.7 |
0.0 |
|
Long Term
Debt Reduction |
-3.1 |
-0.1 |
-0.5 |
-0.5 |
-0.6 |
|
Long Term Debt, Net |
8.9 |
-0.1 |
-0.3 |
2.3 |
-0.6 |
|
Issuance (Retirement) of Debt, Net |
49.0 |
1.1 |
2.7 |
-94.0 |
87.9 |
|
Cash from Financing Activities |
39.0 |
-10.8 |
-7.9 |
-119.3 |
69.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
13.5 |
-6.9 |
-20.6 |
0.4 |
-22.3 |
|
Net Change in Cash |
37.9 |
-63.1 |
-17.8 |
-30.2 |
35.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
169.5 |
241.2 |
240.1 |
249.8 |
194.6 |
|
Net Cash - Ending Balance |
207.4 |
178.1 |
222.3 |
219.5 |
229.7 |
|
Cash Interest Paid |
0.9 |
0.8 |
0.9 |
2.4 |
2.5 |
|
Cash Taxes Paid |
9.5 |
18.2 |
3.3 |
-2.3 |
48.9 |
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 |
Deloitte Touche
Tohmatsu LLC |
Deloitte Touche
Tohmatsu LLC |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Total net sales |
871.5 |
947.6 |
913.4 |
807.3 |
1,000.2 |
|
Total Revenue |
871.5 |
947.6 |
913.4 |
807.3 |
1,000.2 |
|
|
|
|
|
|
|
|
Business restructuring cost |
17.5 |
- |
- |
- |
- |
|
Rounding adjustment Income
Statement |
0.0 |
0.0 |
- |
- |
- |
|
Total cost of sales |
526.2 |
570.3 |
546.9 |
500.0 |
574.3 |
|
Advertising&Sales Promotion
Expenses |
34.6 |
42.7 |
39.0 |
38.1 |
51.7 |
|
Other Selling General And
Administrative |
0.0 |
- |
- |
- |
- |
|
Other Selling/General/Admin.
Expense |
- |
0.0 |
- |
- |
- |
|
Provision for Doubtful
Accounts(SGA) |
1.5 |
0.1 |
2.0 |
0.5 |
2.6 |
|
Payrolls & Bonuses |
170.7 |
176.0 |
162.5 |
152.7 |
155.1 |
|
Provision for Bonuses |
5.9 |
7.1 |
6.5 |
5.6 |
5.0 |
|
Provision for directors' bonuses |
- |
- |
- |
0.0 |
0.7 |
|
Reserve for product warranty |
1.9 |
2.7 |
2.7 |
1.4 |
1.9 |
|
Other Selling & General
Expenses |
136.2 |
137.7 |
127.3 |
117.9 |
135.0 |
|
Rounding adjustment Income
Statement |
0.0 |
- |
- |
- |
- |
|
Workers'' compensation |
0.0 |
0.9 |
- |
- |
- |
|
Special Retirement Expenses |
0.0 |
2.6 |
- |
- |
- |
|
SP Reversal G on
allow.doubt.accounts |
- |
0.0 |
-0.4 |
-0.5 |
-0.2 |
|
SP G on reserve for product
warranty |
- |
0.0 |
-0.1 |
-0.4 |
-0.9 |
|
Gain on valuation of investments
in mone |
-0.6 |
- |
- |
- |
- |
|
SP Loss on Val. of LT Inv't in Secs. |
0.0 |
0.2 |
1.3 |
0.5 |
8.9 |
|
SP L on Val. of Contribut. Inv.
Affil. |
- |
- |
0.0 |
0.0 |
0.3 |
|
SP L on Extinguishment of Tie-in
stock |
- |
- |
- |
0.0 |
0.2 |
|
Impairment loss |
4.2 |
0.2 |
- |
- |
- |
|
Amort. Goodwill - nonrecuring |
- |
- |
0.0 |
3.3 |
0.0 |
|
Total Operating Expense |
898.0 |
940.4 |
887.7 |
819.0 |
934.5 |
|
|
|
|
|
|
|
|
SP Gain Sale Fixed Assets |
0.6 |
0.2 |
0.2 |
0.2 |
0.2 |
|
SP Gain on Liquid. of Affiliates |
0.0 |
0.0 |
0.1 |
0.0 |
- |
|
SP Gain on Sale of LT Inv't Secs. |
0.3 |
0.0 |
1.4 |
0.0 |
0.0 |
|
SP G on sale of inv't in
closely-held |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP Gain Equity in Affiliate |
- |
- |
- |
- |
0.0 |
|
SP Loss on Sale / Retire. of Fix.
Asset |
-1.1 |
-0.3 |
-0.8 |
-0.4 |
-0.8 |
|
SP Loss Affiliate Liquidated |
- |
- |
- |
0.0 |
0.0 |
|
SP Loss Sale Inv. Secs. |
-0.2 |
- |
-0.1 |
0.0 |
0.0 |
|
NOP Interest Income |
1.0 |
1.3 |
1.3 |
1.7 |
3.8 |
|
NOP Dividends Income |
0.6 |
0.9 |
1.0 |
0.8 |
1.6 |
|
NOP Foreign Exchange Gains |
1.3 |
- |
0.0 |
4.5 |
0.0 |
|
NOP Equity Earnings |
- |
- |
- |
0.0 |
0.2 |
|
Other Non-Operating Income
(Expense) |
0.0 |
0.0 |
- |
- |
- |
|
NOP Other Non-Operating Income |
1.6 |
2.8 |
4.1 |
3.8 |
3.7 |
|
NOP Interest Expenses |
-0.9 |
-0.8 |
-0.7 |
-2.5 |
-2.0 |
|
NOP Sales Discounts |
-6.5 |
-7.8 |
-7.7 |
-4.2 |
-6.6 |
|
NOP Foreign Exchange Losses |
0.0 |
-4.2 |
-11.8 |
0.0 |
-12.2 |
|
NOP Equity in losses of affiliates |
- |
- |
0.0 |
-0.1 |
0.0 |
|
NOP Other Non-Operating Expenses |
-1.3 |
-1.6 |
-2.1 |
-1.1 |
-2.1 |
|
SP Loss on transfer of business |
- |
- |
-1.1 |
0.0 |
- |
|
Net Income Before Taxes |
-31.1 |
-2.2 |
9.6 |
-8.9 |
51.4 |
|
|
|
|
|
|
|
|
Total income taxes |
13.4 |
16.9 |
13.8 |
15.5 |
20.8 |
|
Net Income After Taxes |
-44.5 |
-19.1 |
-4.3 |
-24.4 |
30.6 |
|
|
|
|
|
|
|
|
Minority interests in income |
-4.5 |
-5.3 |
-3.9 |
1.9 |
-20.2 |
|
Net Income Before Extra. Items |
-49.0 |
-24.4 |
-8.1 |
-22.5 |
10.4 |
|
Net Income |
-49.0 |
-24.4 |
-8.1 |
-22.5 |
10.4 |
|
|
|
|
|
|
|
|
Rounding adjustment Income
Statement |
0.0 |
0.0 |
- |
- |
- |
|
Rounding Adjustment |
- |
- |
0.0 |
- |
0.0 |
|
Income Available to Com Excl ExtraOrd |
-49.0 |
-24.4 |
-8.1 |
-22.5 |
10.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-49.0 |
-24.4 |
-8.1 |
-22.5 |
10.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
23.8 |
23.8 |
23.8 |
24.9 |
25.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
-2.06 |
-1.03 |
-0.34 |
-0.90 |
0.42 |
|
Basic EPS Including ExtraOrdinary Items |
-2.06 |
-1.03 |
-0.34 |
-0.90 |
0.42 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-49.0 |
-24.4 |
-8.1 |
-22.5 |
10.4 |
|
Diluted Weighted Average Shares |
23.8 |
23.8 |
23.8 |
24.9 |
25.1 |
|
Diluted EPS Excluding ExtraOrd Items |
-2.06 |
-1.03 |
-0.34 |
-0.90 |
0.42 |
|
Diluted EPS Including ExtraOrd Items |
-2.06 |
-1.03 |
-0.34 |
-0.90 |
0.42 |
|
DPS-Ordinary Shares |
0.15 |
0.25 |
0.29 |
0.22 |
0.30 |
|
Gross Dividends - Common Stock |
3.6 |
6.0 |
6.9 |
5.3 |
7.5 |
|
Normalized Income Before Taxes |
-6.3 |
2.9 |
12.7 |
-3.8 |
61.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
20.9 |
18.3 |
14.7 |
15.4 |
24.4 |
|
Normalized Income After Taxes |
-27.3 |
-15.4 |
-2.0 |
-19.2 |
37.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-31.8 |
-20.8 |
-5.9 |
-17.3 |
16.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-1.34 |
-0.87 |
-0.25 |
-0.69 |
0.67 |
|
Diluted Normalized EPS |
-1.34 |
-0.87 |
-0.25 |
-0.69 |
0.67 |
|
Interest Expense |
0.9 |
0.8 |
0.7 |
2.5 |
2.0 |
|
BC - Depreciation of Goodwill |
3.2 |
- |
- |
- |
- |
|
Amortization of Goodwill - footnote |
- |
1.1 |
- |
- |
- |
|
Amort.Goodwill |
- |
- |
0.7 |
5.3 |
1.1 |
|
BC - Depreciation of Fixed Assets |
25.8 |
- |
- |
- |
- |
|
Amort of Tangible Assets-Current Portion |
- |
29.8 |
- |
- |
- |
|
Depreciation |
- |
- |
28.0 |
30.1 |
31.9 |
|
Advertising Expense, Supplemental |
34.6 |
42.7 |
39.0 |
38.1 |
51.7 |
|
Total Research And Development Expense |
76.9 |
82.8 |
79.5 |
66.6 |
67.4 |
|
Income taxes-current |
15.1 |
10.7 |
- |
- |
- |
|
Current Tax - Total |
15.1 |
10.7 |
- |
- |
- |
|
Income taxes-deferred |
-1.7 |
6.2 |
- |
- |
- |
|
Deferred Tax - Total |
-1.7 |
6.2 |
- |
- |
- |
|
Income Tax - Total |
13.4 |
16.9 |
- |
- |
- |
|
Reported Operating Profit |
-5.4 |
11.0 |
26.5 |
-8.7 |
73.9 |
|
Reported Ordinary Profit |
-9.1 |
1.7 |
10.6 |
-5.8 |
60.2 |
|
Retirement Benefit Expenses Other |
- |
5.6 |
- |
- |
- |
|
Service Cost |
7.4 |
6.9 |
6.2 |
5.5 |
4.8 |
|
Interest Cost |
2.4 |
3.1 |
2.7 |
2.4 |
2.1 |
|
Expected Return on Plan Assets |
-2.7 |
-2.8 |
-2.5 |
-2.0 |
-2.1 |
|
Actuarial Gains and Losses |
5.3 |
3.2 |
3.0 |
5.2 |
2.1 |
|
Prior Service Cost |
-1.1 |
-1.1 |
-1.0 |
-0.9 |
-0.9 |
|
Domestic Pension Plan Expense |
11.3 |
14.9 |
8.4 |
10.1 |
6.1 |
|
Defined Contribution Expense - Domestic |
5.4 |
- |
- |
- |
- |
|
Other Pension Cost |
- |
- |
4.9 |
4.4 |
4.8 |
|
Total Pension Expense |
16.6 |
14.9 |
13.2 |
14.5 |
10.9 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.80% |
1.80% |
- |
- |
- |
|
Discount Rate |
- |
- |
2.50% |
2.50% |
2.50% |
|
Expected return on assets(MIN)-Retiremen |
2.50% |
2.50% |
- |
- |
- |
|
Expected Rate of Return |
- |
- |
2.50% |
2.50% |
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 |
Deloitte Touche
Tohmatsu LLC |
Deloitte Touche
Tohmatsu LLC |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposit |
185.5 |
180.7 |
236.3 |
219.0 |
232.4 |
|
Notes and accounts
receivable-trade |
108.9 |
119.3 |
114.6 |
107.2 |
103.8 |
|
Marketable Sec. |
- |
- |
- |
0.0 |
1.4 |
|
Inventories -
merchandise&finished goods |
172.9 |
182.1 |
183.9 |
156.7 |
186.6 |
|
Inventories - work-in-process |
3.5 |
8.5 |
6.7 |
3.4 |
4.1 |
|
Inventories - raw materials &
supplies |
45.5 |
55.2 |
50.2 |
40.1 |
40.8 |
|
Deferred Income Taxes (Current) |
13.2 |
15.9 |
17.5 |
13.9 |
23.7 |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Current Assets |
24.3 |
36.2 |
45.5 |
45.4 |
53.9 |
|
Doubtful Account |
-3.7 |
-3.9 |
-4.9 |
-4.2 |
-4.7 |
|
Total Current Assets |
550.1 |
594.1 |
649.8 |
581.6 |
642.0 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment, Total
- Net |
0.0 |
0.0 |
- |
- |
- |
|
Buildings & Structures, Gross |
226.2 |
252.4 |
262.6 |
224.0 |
209.8 |
|
Accmulated Depreciation |
-145.3 |
-158.0 |
-161.4 |
-139.0 |
-123.9 |
|
Machinery, equipment and vehicles |
33.3 |
41.2 |
40.9 |
36.8 |
34.0 |
|
Acc.
Depre&Impair-Machine,Equip&Vehicle |
-26.3 |
-32.6 |
-31.3 |
-28.5 |
-24.4 |
|
Tools Furniture And Fixtures Total |
118.9 |
131.6 |
129.6 |
116.8 |
108.0 |
|
Acc.
Depre&Impair-Tool,Furniture&Fixture |
-103.9 |
-116.3 |
-113.3 |
-101.5 |
-90.8 |
|
Land |
86.6 |
95.7 |
101.0 |
83.7 |
76.8 |
|
Construction-In-Progress |
1.4 |
1.0 |
1.2 |
0.3 |
2.4 |
|
Other Total intangible assets |
0.0 |
- |
- |
- |
- |
|
Other Total Intangible Assets,
Net |
- |
0.0 |
- |
- |
- |
|
Software |
8.8 |
9.1 |
12.1 |
14.7 |
17.6 |
|
Software accounts rights |
1.7 |
3.2 |
0.9 |
0.6 |
0.9 |
|
Goodwill |
9.0 |
5.1 |
1.1 |
1.4 |
2.1 |
|
Other Intangibles |
1.6 |
2.1 |
1.0 |
0.9 |
0.8 |
|
Other Total investments and other
assets |
0.0 |
- |
- |
- |
- |
|
Other LT Investments (Held for
Sale / He |
17.7 |
17.5 |
- |
- |
- |
|
LT Investment |
- |
- |
17.1 |
30.4 |
36.4 |
|
Invt Secs Noncons, Asc, Affd Cos |
2.6 |
8.1 |
- |
- |
- |
|
Invts in Capital Noncons, Ascd,
Affd Cos |
2.0 |
2.4 |
- |
- |
- |
|
LT Investment-stock |
- |
- |
4.8 |
- |
- |
|
Investment in closely-held capital |
- |
- |
3.2 |
- |
- |
|
Long-term loans receivable |
0.6 |
0.4 |
0.4 |
6.5 |
11.5 |
|
Deferred tax assets |
10.2 |
5.3 |
5.4 |
7.5 |
10.4 |
|
Other investment & other
assets |
28.6 |
32.7 |
- |
- |
- |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Other Long Term Assets |
- |
0.0 |
- |
- |
- |
|
Other Assets |
- |
- |
30.4 |
39.0 |
38.1 |
|
Allow.Doubt.Accounts (Non-Current) |
-1.7 |
-1.0 |
-1.0 |
-1.1 |
-1.3 |
|
Total Assets |
822.0 |
893.9 |
954.6 |
874.1 |
950.6 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
28.3 |
39.6 |
47.9 |
37.5 |
34.6 |
|
Short-term loans payable |
45.9 |
9.7 |
9.3 |
4.5 |
96.3 |
|
Current portion of long-term loans
payab |
4.3 |
3.1 |
0.0 |
0.5 |
0.7 |
|
Income Tax Payable |
3.2 |
2.3 |
10.3 |
2.0 |
3.0 |
|
Dfd. Tax Liabs. |
0.4 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Allowance Bonus |
11.4 |
15.1 |
15.0 |
12.3 |
11.3 |
|
Allowance Dir's Bonus |
- |
- |
- |
0.0 |
0.7 |
|
Rounding adjustment Liability |
0.0 |
0.0 |
- |
- |
- |
|
Reserve for product warranties |
4.2 |
5.1 |
5.6 |
4.6 |
5.1 |
|
Other Current Liabilities |
60.7 |
52.0 |
59.5 |
51.1 |
45.9 |
|
Total Current Liabilities |
158.3 |
127.0 |
147.7 |
112.5 |
197.6 |
|
|
|
|
|
|
|
|
Long-term loans payable |
6.4 |
0.1 |
3.2 |
2.8 |
0.0 |
|
Total Long Term Debt |
6.4 |
0.1 |
3.2 |
2.8 |
0.0 |
|
|
|
|
|
|
|
|
Dfd. Tax Liabs. |
6.0 |
4.2 |
0.3 |
1.6 |
5.4 |
|
Deferred Tax-Reval |
1.7 |
2.0 |
2.3 |
2.0 |
1.9 |
|
Reserve for Retirement
Benefit(accrued) |
8.6 |
5.7 |
4.0 |
1.7 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Liability |
- |
0.0 |
- |
- |
- |
|
Other Long-Term Liabilities |
27.1 |
23.3 |
23.5 |
22.8 |
21.7 |
|
Minority Interests |
168.7 |
195.7 |
199.2 |
181.4 |
175.2 |
|
Total Liabilities |
376.9 |
358.2 |
380.1 |
324.8 |
401.9 |
|
|
|
|
|
|
|
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Equity |
- |
0.0 |
- |
- |
- |
|
Common Stock |
98.6 |
112.6 |
111.9 |
99.3 |
93.9 |
|
Total capital surpluses |
114.8 |
131.1 |
130.3 |
115.6 |
109.4 |
|
Total retained earnings |
293.0 |
410.2 |
436.9 |
399.8 |
407.6 |
|
Treasury Stock |
-0.5 |
-21.5 |
-21.3 |
-18.9 |
-7.0 |
|
Valuation difference on
available-for-sa |
2.4 |
0.1 |
-0.5 |
1.7 |
0.4 |
|
Reserve by Valuation of Land |
-15.4 |
-17.9 |
-18.1 |
-16.0 |
-15.2 |
|
Translation Adj. |
-47.7 |
-78.9 |
-64.6 |
-32.1 |
-40.5 |
|
Total Equity |
445.1 |
535.7 |
574.6 |
549.3 |
548.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
822.0 |
893.9 |
954.6 |
874.1 |
950.6 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
23.8 |
23.8 |
23.8 |
23.8 |
25.1 |
|
Total Common Shares Outstanding |
23.8 |
23.8 |
23.8 |
23.8 |
25.1 |
|
T/S-Ordinary Shares |
0.1 |
1.8 |
1.8 |
1.8 |
0.5 |
|
Full-Time Employees |
3,060 |
3,163 |
3,115 |
2,699 |
2,708 |
|
Total Number of Shareholders |
4,839 |
4,945 |
- |
- |
- |
|
Number of Common Shareholders |
- |
- |
4,854 |
5,169 |
5,039 |
|
Division And End Of Current Period Remai |
0.2 |
- |
- |
- |
- |
|
Long Term Debt Matured within 1 Year |
4.3 |
3.1 |
0.0 |
0.5 |
0.7 |
|
Lns Pble Maturing over a Yr within 2 Yrs |
4.3 |
0.1 |
- |
- |
- |
|
Long Term Debt Matured within 2 Years |
- |
- |
3.1 |
0.0 |
0.0 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
2.1 |
0.0 |
- |
- |
- |
|
Long Term Debt Matured within 3 Years |
- |
- |
0.1 |
2.7 |
0.0 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
0.0 |
0.0 |
- |
- |
- |
|
Long Term Debt Matured within 4 Years |
- |
- |
0.0 |
0.0 |
0.0 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
0.0 |
0.0 |
- |
- |
- |
|
Long Term Debt Matured within 5 Years |
- |
- |
0.0 |
0.0 |
0.0 |
|
other |
0.0 |
- |
- |
- |
- |
|
Loans Payable Remaining |
- |
0.0 |
- |
- |
- |
|
Long Term Debt Matured after 5 Years |
- |
- |
0.0 |
0.0 |
0.0 |
|
Total Long Term Debt, Supplemental |
10.9 |
3.2 |
3.2 |
3.2 |
0.7 |
|
Capital Lease payments due in 1 year |
1.0 |
0.3 |
0.3 |
0.3 |
0.2 |
|
Cap Lease Maturg over a Yr within 2 Yrs |
0.3 |
0.2 |
- |
- |
- |
|
Capital Lease payments due in 2 years |
- |
- |
0.2 |
0.3 |
0.2 |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
0.2 |
0.2 |
- |
- |
- |
|
Capital Lease payments due in 3 years |
- |
- |
0.1 |
0.1 |
0.1 |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.6 |
0.2 |
- |
- |
- |
|
Capital Lease payments due in 4 years |
- |
- |
0.1 |
0.1 |
0.1 |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.0 |
0.1 |
- |
- |
- |
|
Capital Lease payments due in 5 years |
- |
- |
0.1 |
0.1 |
0.1 |
|
capital lease remaining |
0.0 |
0.4 |
- |
- |
- |
|
Capital Lease Remaining Maturities |
- |
- |
0.5 |
0.6 |
0.7 |
|
Total Capital Leases, Supplemental |
2.0 |
1.5 |
1.2 |
1.5 |
1.3 |
|
Operating Lease Pymts. Due within 1Year |
- |
- |
6.1 |
5.8 |
4.1 |
|
Operating Leases - Remaining Payments |
- |
- |
21.8 |
24.9 |
20.0 |
|
Total Operating Leases, Supplemental |
- |
- |
27.9 |
30.8 |
24.1 |
|
Pension Obligation |
123.1 |
135.2 |
118.3 |
99.6 |
89.8 |
|
Fair Value of Plan Assets |
106.3 |
107.9 |
105.0 |
90.5 |
75.1 |
|
Unfunded Retirement Benefit Obligation |
-16.8 |
-27.3 |
- |
- |
- |
|
Funded Status |
- |
- |
-13.3 |
-9.1 |
-14.7 |
|
Total Funded Status |
-16.8 |
-27.3 |
-13.3 |
-9.1 |
-14.7 |
|
Discount Rate |
1.80% |
1.80% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Unrecognized Actuarial Gains and Losses |
11.1 |
26.0 |
14.8 |
13.2 |
23.5 |
|
Unrecognized Prior Service Cost |
-2.9 |
-4.4 |
-5.5 |
-5.8 |
-6.4 |
|
Prepaid Pension Benefits |
- |
- |
- |
- |
2.5 |
|
Accrued Retirement Benefits |
-8.6 |
-5.7 |
- |
- |
- |
|
Reserve for Accrued Retirement Benefits |
- |
- |
-4.0 |
-1.7 |
- |
|
Net Assets Recognized on Balance Sheet |
-0.4 |
15.8 |
5.3 |
5.7 |
19.7 |
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 |
Deloitte Touche
Tohmatsu LLC |
Deloitte Touche
Tohmatsu LLC |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
Deloitte & Touche
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income Bf. Tax |
-31.1 |
-2.2 |
9.6 |
-8.9 |
51.4 |
|
Depreciation |
25.8 |
29.8 |
28.0 |
30.1 |
31.9 |
|
Incr/Decr in Other Current
Assets-CF |
11.9 |
- |
- |
- |
- |
|
Amort.Goodwill |
3.2 |
1.1 |
0.7 |
5.3 |
1.1 |
|
Increase (decrease) in provision
for ret |
4.0 |
- |
- |
- |
- |
|
Interest&Div. Income |
-1.6 |
-2.2 |
-2.3 |
-2.5 |
-5.4 |
|
Interest Expense |
0.9 |
0.8 |
0.7 |
2.5 |
2.0 |
|
Foreign exchange losses (gains) |
-2.4 |
-1.2 |
6.0 |
-3.7 |
3.5 |
|
Equity Earnings |
- |
- |
0.0 |
0.1 |
-0.2 |
|
Gain-Fix. Asset Sold |
- |
- |
- |
0.0 |
-0.2 |
|
Business restructuring cost |
17.5 |
- |
- |
- |
- |
|
JOORGl |
0.5 |
0.2 |
0.6 |
0.2 |
0.8 |
|
Gain/Loss on equity changes |
- |
- |
- |
- |
0.0 |
|
L/G Affiliate Liquidated |
0.0 |
- |
-0.1 |
0.0 |
- |
|
Loss (gain) on sales of investment
secur |
-0.1 |
0.0 |
-1.4 |
0.0 |
0.0 |
|
Loss (gain) on valuation of
investment s |
0.0 |
0.2 |
1.3 |
0.1 |
8.9 |
|
Impairment Loss |
4.2 |
0.2 |
- |
- |
- |
|
Loss Val. Affil.Stk. |
- |
- |
0.0 |
0.4 |
0.0 |
|
L-Val.Contrib.C.Affi |
- |
- |
- |
0.0 |
0.3 |
|
Decrease (increase) in notes and
account |
-0.7 |
-0.3 |
-7.5 |
2.0 |
1.6 |
|
Decrease (increase) in inventories |
10.2 |
-9.5 |
-26.2 |
57.7 |
-35.1 |
|
Increase (decrease) in notes and
account |
-14.7 |
-6.6 |
16.1 |
0.5 |
8.8 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Payments for business
restructuring cost |
-16.0 |
- |
- |
- |
- |
|
Increase In Cash And Cash
Equivalents Fr |
5.6 |
1.5 |
- |
- |
- |
|
Rounding adjustment Cash flow |
- |
0.0 |
- |
- |
- |
|
Other, net |
9.6 |
2.5 |
7.7 |
5.7 |
-8.3 |
|
Int.&Divid Received |
1.5 |
2.1 |
2.2 |
2.7 |
5.6 |
|
Interest Paid |
-0.9 |
-0.8 |
-0.9 |
-2.4 |
-2.5 |
|
Income tax (paid) refund |
-9.5 |
-18.2 |
-3.3 |
2.3 |
-48.9 |
|
Newly Consolidate |
- |
- |
- |
- |
1.2 |
|
Increase due to mergers |
- |
- |
- |
- |
0.4 |
|
Adjustment |
- |
- |
- |
0.0 |
- |
|
Loss on valuation of investments
in capi |
- |
- |
0.0 |
0.0 |
- |
|
Cash from Operating Activities |
17.9 |
-2.7 |
31.1 |
92.1 |
17.0 |
|
|
|
|
|
|
|
|
Payments for investments in
capital |
-1.1 |
- |
- |
- |
- |
|
Time Deposit Made |
-8.0 |
-12.1 |
-6.5 |
-10.9 |
0.0 |
|
Time Deposit Matured |
18.8 |
8.5 |
0.7 |
11.2 |
4.1 |
|
Sale of Marketable Securities |
- |
- |
1.3 |
0.1 |
6.0 |
|
Purchase of Marketable Securities |
- |
- |
-1.4 |
0.0 |
-0.1 |
|
Purchase of property, plant and
equipmen |
-19.9 |
-16.6 |
-13.6 |
-10.6 |
-30.3 |
|
Proceeds from sales of property,
plant a |
4.0 |
6.6 |
0.4 |
0.5 |
0.9 |
|
Purch. Intangible |
-4.2 |
-5.4 |
-3.4 |
-3.4 |
-6.0 |
|
Purchase of Long-Term Inv't in
Sec. |
-1.5 |
-0.1 |
-0.1 |
-0.1 |
-2.1 |
|
Sale of Long-Term Investment in
Sec. |
2.2 |
0.2 |
2.6 |
0.0 |
3.1 |
|
Purchase additional Affiliate
Stocks |
-18.3 |
-18.5 |
-1.8 |
-0.5 |
-5.1 |
|
Purchase of treasury stock of
subsidiari |
-3.2 |
-0.3 |
0.0 |
-1.5 |
0.0 |
|
Contribut. Inv. Collect |
- |
- |
0.0 |
0.0 |
0.0 |
|
Payments of long-term loans
receivable |
-0.3 |
0.0 |
0.0 |
-0.1 |
-5.0 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Collection of long-term loans receivable |
0.1 |
0.1 |
0.2 |
5.3 |
0.7 |
|
Other, net |
-1.1 |
-5.2 |
1.3 |
6.7 |
4.8 |
|
Cash from Investing Activities |
-32.5 |
-42.7 |
-20.4 |
-3.3 |
-29.0 |
|
|
|
|
|
|
|
|
Net increase (decrease) in
short-term lo |
40.1 |
1.2 |
3.0 |
-96.3 |
88.5 |
|
LT Debt Proceed |
12.1 |
- |
0.1 |
2.7 |
0.0 |
|
Repayment of long-term loans
payable |
-3.1 |
-0.1 |
-0.5 |
-0.5 |
-0.6 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Proceed From Minorities' Payment |
- |
- |
- |
0.0 |
0.5 |
|
Cash Dividends Paid |
-5.0 |
-6.8 |
-6.2 |
-6.8 |
-8.1 |
|
Minority Dividends |
-4.6 |
-4.6 |
-4.0 |
-6.6 |
-10.5 |
|
Treasury Stock Purchased |
0.0 |
0.0 |
0.0 |
-11.6 |
0.0 |
|
Other, net |
-0.3 |
-0.5 |
-0.3 |
-0.4 |
-0.4 |
|
Cash from Financing Activities |
39.0 |
-10.8 |
-7.9 |
-119.3 |
69.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
13.5 |
-6.9 |
-20.6 |
0.4 |
-22.3 |
|
Net Change in Cash |
37.9 |
-63.1 |
-17.8 |
-30.2 |
35.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
169.5 |
241.2 |
240.1 |
249.8 |
194.6 |
|
Net Cash - Ending Balance |
207.4 |
178.1 |
222.3 |
219.5 |
229.7 |
|
Cash Interest Paid |
0.9 |
0.8 |
0.9 |
2.4 |
2.5 |
|
Cash Taxes Paid |
9.5 |
18.2 |
3.3 |
-2.3 |
48.9 |
Financial Health
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Ratios
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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.