MIRA
INFORM REPORT
|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANDEN CORPORATION |
|
|
|
|
Registered Office : |
20,
Kotobuki-cho, Isesaki-Shi, 372-8502 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
30.07.1943 |
|
|
|
|
Legal Form : |
Public Parent
Company |
|
|
|
|
Line of Business : |
·
Manufacturer
of automotive equipment including automobile air conditioners, vending machines,
refrigerators, freezers, refrigerated showcases, household equipment, bicycle
accessories Manufacturer of Automobile Air-Conditioners, Vending
Machines, Freezers, Heating Systems & Ventilation Systems |
|
|
|
|
No. of Employees : |
10,194 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
japan ECONOMIC OVERVIEW
In the years
following World War II, government-industry cooperation, a strong work ethic, mastery
of high technology, and a comparatively small defense allocation (1% of GDP)
helped Japan develop a technologically advanced economy. Two notable
characteristics of the post-war economy were the close interlocking structures
of manufacturers, suppliers, and distributors, known as keiretsu, and the
guarantee of lifetime employment for a substantial portion of the urban labor
force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. For three decades, overall real economic growth
had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s,
and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging
just 1.7%, largely because of the after effects of inefficient investment and
an asset price bubble in the late 1980s that required a protracted period of
time for firms to reduce excess debt, capital, and labor. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan into recession. Government stimulus
spending helped the economy recover in late 2009 and 2010, but the economy
contracted again in 2011 as the massive 9.0 magnitude earthquake and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 stood as the fourth-largest economy in the world after second-place
China, which surpassed Japan in 2001, and third-place India, which edged out
Japan in 2012. The new government will continue a longstanding debate on
restructuring the economy and reining in Japan's huge government debt, which
exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth,
and an aging and shrinking population are other major long-term challenges for
the economy.
|
Source : CIA |
Company
name & address
SANDEN CORPORATION
20, Kotobuki-cho
Isesaki-Shi, 372-8502
Japan
Tel: 81-270-241211
Fax: 81-270-245338
Web: www.sanden.co.jp
Tokyo
Headquarters
1-31-7 Taito-Ku 110
Tokyo, Japan
Synthesis
Employees: 10,194
Company Type: Public
Parent
Corporate Family: 36 Companies
Traded: Tokyo Stock Exchange: 6444
Incorporation
Date: 30-Jul-1943
Auditor: KPMG AZSA LLC
Financials in: USD (Millions)
Fiscal Year End: 31-Mar-2013
Reporting Currency: Japanese
Yen
Annual Sales:
2,914.0 1
Net Income:
13.1
Total Assets:
2,629.3 2
Market Value:
562.3 (08-Nov-2013)
Business
Description
SANDEN
CORPORATION is a Japan-based company mainly involved in the manufacture and
sale of automotive equipment and distribution systems. The Company operates in
three business segments. The Automotive Equipment segment is involved in the
manufacture and sale of car air conditioning systems, compressors and car heat
exchangers for automotive air conditioners. The Distribution Systems segment is
engaged in the manufacture and sale of refrigerated showcases, freezer
showcases and beverage vending machines, as well as the provision of store
design, engineering and maintenance services. The Others segment is involved in
the manufacture and sale of residential heating equipment, water heaters and
environmental equipment, such as ventilation systems and others, as well as the
logistics and electronic computing businesses. On November 1, 2013, the Company
acquired a Gunma-based subsidiary. For the six months ended 30 September 2013,
SANDEN CORPORATION revenues increased 10% to Y132.48B. Net income applicable to
common stockholders increased 31% to Y636M. Revenues reflect an increase in
demand for the Company's products and services due to favorable market
conditions. Net income benefited from Automotive Equipment Business segment
income totaling Y247M vs. loss of Y1.72B.
Industry
Industry
Motor Vehicle Parts Manufacturing
ANZSIC 2006: 2452 - Fixed Space Heating, Cooling and
Ventilation Equipment Manufacturing
ISIC Rev 4: 2819 - Manufacture of other
general-purpose machinery
NACE Rev 2: 2825 - Manufacture of non-domestic cooling
and ventilation equipment
NAICS 2012: 336390 - Other Motor Vehicle Parts
Manufacturing
UK SIC 2007: 2825 - Manufacture of non-domestic cooling
and ventilation equipment
US SIC 1987:
3585 - Air-Conditioning and Warm Air Heating Equipment and Commercial and
Industrial
Refrigeration Equipment
Key
Executives
|
Name |
Title |
|
Mitsuya Yamamoto |
President, Representative Director |
|
Patrick Poon |
Executive Officer |
|
Tetsuo Yoshida |
Executive Officer, Chief Senior Director of Domestic Sales, Director
of SDM Business |
|
Yasuhiro Minami |
Managing Executive Officer, Chief Director of Administration |
|
Hideyuki Maruyama |
Chief Director of Accounting |
Financial Summary
|
Stock Snapshot
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = JPY 82.97047
2 - Balance Sheet
Item Exchange Rate: USD 1 = JPY 94.08855
Corporate
Overview
Location
20, Kotobuki-cho
Isesaki-Shi,
372-8502
Japan
Tel: 81-270-241211
Fax: 81-270-245338
Web www.sanden.co.jp
Quote Symbol -
Exchange
6444 - Tokyo Stock Exchange
Sales JPY(mil): 241,780.0
Assets JPY(mil): 247,387.0
Employees: 10,194
Fiscal Year End: 31-Mar-2013
Industry: Miscellaneous Capital
Goods
Incorporation Date: 30-Jul-1943
Company Type: Public
Parent
Quoted Status: Quoted
President, Representative Director:
Mitsuya Yamamoto
Industry Codes
ANZSIC 2006
Codes:
2452 - Fixed
Space Heating, Cooling and Ventilation Equipment Manufacturing
2441 - Whiteware
Appliance Manufacturing
2231 - Boiler,
Tank and Other Heavy Gauge Metal Container Manufacturing
2499 - Other
Machinery and Equipment Manufacturing Not Elsewhere Classified
ISIC Rev 4 Codes:
2819 - Manufacture
of other general-purpose machinery
2511 - Manufacture
of structural metal products
2750 - Manufacture
of domestic appliances
NACE Rev 2 Codes:
2825 - Manufacture
of non-domestic cooling and ventilation equipment
2829 - Manufacture
of other general-purpose machinery n.e.c.
2751 - Manufacture
of electric domestic appliances
2511 - Manufacture
of metal structures and parts of structures
NAICS 2012 Codes:
336390 - Other
Motor Vehicle Parts Manufacturing
335222 - Household
Refrigerator and Home Freezer Manufacturing
333318 - Other
Commercial and Service Industry Machinery Manufacturing
332313 - Plate
Work Manufacturing
333413 - Industrial
and Commercial Fan and Blower and Air Purification Equipment Manufacturing
US SIC 1987:
3585 - Air-Conditioning and Warm Air Heating
Equipment and Commercial and Industrial Refrigeration Equipment
3443 - Fabricated Plate Work (Boiler Shops)
3564 - Industrial and Commercial Fans and
Blowers and Air Purification Equipment
3581 - Automatic Vending Machines
3632 - Household Refrigerators and HOme and
Farm Freezers
UK SIC 2007:
2825 - Manufacture of non-domestic cooling
and ventilation equipment
2751 - Manufacture of electric domestic
appliances
2829 - Manufacture of other general-purpose
machinery n.e.c.
2511 - Manufacture of metal structures and
parts of structures
Business Description
SANDEN CORPORATION is a Japan-based company mainly
involved in the manufacture and sale of automotive equipment and distribution
systems. The Company operates in three business segments. The Automotive
Equipment segment is involved in the manufacture and sale of car air
conditioning systems, compressors and car heat exchangers for automotive air conditioners.
The Distribution Systems segment is engaged in the manufacture and sale of
refrigerated showcases, freezer showcases and beverage vending machines, as
well as the provision of store design, engineering and maintenance services.
The Others segment is involved in the manufacture and sale of residential
heating equipment, water heaters and environmental equipment, such as
ventilation systems and others, as well as the logistics and electronic
computing businesses. On November 1, 2013, the Company acquired a Gunma-based
subsidiary. For the six months ended 30 September 2013, SANDEN CORPORATION
revenues increased 10% to Y132.48B. Net income applicable to common
stockholders increased 31% to Y636M. Revenues reflect an increase in demand for
the Company's products and services due to favorable market conditions. Net
income benefited from Automotive Equipment Business segment income totaling
Y247M vs. loss of Y1.72B.
More Business Descriptions
Manufacture of
automotive equipment including automobile air conditioners, vending machines,
refrigerators, freezers, refrigerated showcases, household equipment, bicycle
accessories
Automobile
Air-Conditioners, Vending Machines, Freezers, Heating Systems & Ventilation
Systems Mfr
Other Motor
Vehicle Parts Manufacturing
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Corporate Family |
Corporate
Structure News: |
|
|
SANDEN
CORPORATION |
|
SANDEN CORPORATION |
|
|
Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Isesaki-Shi |
Japan |
Motor Vehicle Parts Manufacturing |
2,914.0 |
10,194 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Motor Vehicle Parts Manufacturing |
49.6 |
500 |
|
|
Subsidiary |
Ayudhya |
Thailand |
Motor Vehicle Parts Manufacturing |
|
500 |
|
|
Subsidiary |
New Delhi |
India |
Motor Vehicle Parts Manufacturing |
|
400 |
|
|
Subsidiary |
Singapore |
Singapore |
Motor Vehicle Parts Manufacturing |
186.0 |
250 |
|
|
Subsidiary |
Calamba, Laguna |
Philippines |
Motor Vehicle Parts Manufacturing |
|
284 |
|
|
Subsidiary |
Shah Alam, Selangor |
Malaysia |
Motor Vehicle Parts Manufacturing |
64.4 |
223 |
|
|
Subsidiary |
Dallas, TX |
United States |
Industrial Machinery Repair and Maintenance |
|
195 |
|
|
Subsidiary |
Casale Monferrato, AL |
Italy |
Motor Vehicle Parts Manufacturing |
40.5 |
160 |
|
|
Subsidiary |
Cornella De Llobregat, Barcelona |
Spain |
Motor Vehicle Parts Manufacturing |
8.5 |
11 |
|
|
Subsidiary |
Maebashi, Gunma |
Japan |
Machinery and Equipment Manufacturing |
25.3 |
190 |
|
|
Subsidiary |
Pasir Gudang, Johore |
Malaysia |
Machinery and Equipment Manufacturing |
24.4 |
170 |
|
|
Subsidiary |
Suzhou, Jiangsu |
China |
Motor Vehicle Parts Manufacturing |
8.6 |
150 |
|
|
Joint Venture |
Tianjin |
China |
Motor Vehicle Parts Manufacturing |
|
130 |
|
|
Subsidiary |
Basingstoke |
United Kingdom |
Motor Vehicle and Parts Dealers |
643.1 |
117 |
|
|
Subsidiary |
Tinteniac |
France |
Motor Vehicle Parts Manufacturing |
294.9 |
1,766 |
|
|
Subsidiary |
Polkowice |
Poland |
Motor Vehicle Parts Manufacturing |
70.8 |
490 |
|
|
Subsidiary |
Isesaki, Gunma |
Japan |
Machinery and Equipment Manufacturing |
6.9 |
56 |
|
|
Subsidiary |
Taipei, Taoyuan Hsien |
Taiwan |
Motor Vehicle Parts Manufacturing |
|
45 |
|
|
Subsidiary |
Isesaki, Gunma |
Japan |
Motor Vehicle Parts Manufacturing |
63.4 |
34 |
|
|
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Professional and Commercial Equipment Wholesale |
|
30 |
|
|
Subsidiary |
Bruxelles |
Belgium |
Machinery and Equipment Manufacturing |
14.1 |
18 |
|
|
Subsidiary |
Taipei |
Taiwan |
Motor Vehicle Wholesale |
|
15 |
|
|
Subsidiary |
Condell Park, NSW |
Australia |
Motor Vehicle Parts Manufacturing |
4.1 |
13 |
|
|
Subsidiary |
Wylie, TX |
United States |
Motor Vehicle Parts Manufacturing |
237.3 |
|
|
|
Branch |
Plymouth, MI |
United States |
Machinery and Equipment Manufacturing |
5.6 |
12 |
|
|
Subsidiary |
Kita-Ku, Tokyo |
Japan |
Specialty Construction Trade Contractors |
57.4 |
|
|
|
Subsidiary |
Isesaki, Gunma |
Japan |
Computer Programming |
38.6 |
|
|
|
Subsidiary |
Maebashi, Gunma |
Japan |
Residential and Commercial Building Construction |
13.1 |
|
|
|
Subsidiary |
Isesaki, Gunma |
Japan |
Commercial Real Estate Leasing |
6.2 |
|
|
|
Subsidiary |
Isesaki, Gunma |
Japan |
Metal Products Manufacturing |
27.6 |
79 |
|
|
Subsidiary |
Takasaki, Gunma |
Japan |
Motor Vehicle and Parts Dealers |
65.7 |
|
|
|
Subsidiary |
Saltillo, Coahuila |
Mexico |
Motor Vehicle Parts Manufacturing |
|
|
|
|
Subsidiary |
Tehran |
Iran |
Motor Vehicle Parts Manufacturing |
|
|
|
|
Subsidiary |
Lahore |
Pakistan |
Motor Vehicle Parts Manufacturing |
|
|
|
|
Subsidiary |
Singburi |
Thailand |
Motor Vehicle Parts Manufacturing |
|
|
Executive report
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant
Developments
SANDEN CORP to
Fully Acquire Subsidiary through Stock Swap Sep 24, 2013
SANDEN CORP
announced that it has decided to fully acquire a subsidiary, which is engaged
in automobile machinery business, through stock swap, effective November 1,
2013. One share of the subsidiary can be exchanged to 206.11 shares of the
Company. After the transaction, the Company will hold a 100% stake in the
subsidiary.
R&I Affirms
SANDEN CORPORATION's Rating at "BBB-"; Rating Outlook Stable Jun 04,
2013
Rating and
Investment Information, Inc. (R&I) announced that it has affirmed the
rating on SANDEN CORPORATION at "BBB-". The rating outlook is stable.
SANDEN CORP Amends Full-year Consolidated Outlook
for FY Ending March 31, 2013 Feb 08, 2013
SANDEN CORP announced that it has reaffirmed its full-year
consolidated outlook for revenue of JPY 240,000 million, and lowered its
full-year consolidated outlook for operating profit from JPY 7,500 million to
JPY 3,500 million, ordinary profit from JPY 8,500 million to JPY 4,500 million,
net profit from JPY 6,500 million to JPY 3,500 million and earnings per share
from JPY 47.69 to JPY 25.68 for the fiscal year ending March 31, 2013. The
Company lowered its full-year outlook for profits mainly due to decreased
income from automobile machinery business and increased cost on production
localization. According to I/B/E/S Estimates, analysts on average are expecting
the Company to report full-year revenue of JPY 239,500 million, operating
profit of JPY 7,050 million and net profit of JPY 6,250 million.
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 |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
2,914.0 |
2,713.8 |
2,527.0 |
2,094.8 |
2,156.5 |
|
Revenue |
2,914.0 |
2,713.8 |
2,527.0 |
2,094.8 |
2,156.5 |
|
Total Revenue |
2,914.0 |
2,713.8 |
2,527.0 |
2,094.8 |
2,156.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
2,471.3 |
2,258.7 |
2,053.0 |
1,694.6 |
1,787.3 |
|
Cost of Revenue, Total |
2,471.3 |
2,258.7 |
2,053.0 |
1,694.6 |
1,787.3 |
|
Gross Profit |
442.7 |
455.0 |
473.9 |
400.3 |
369.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
242.6 |
290.3 |
218.9 |
176.0 |
226.7 |
|
Labor & Related Expense |
186.9 |
180.7 |
167.6 |
141.8 |
176.9 |
|
Total Selling/General/Administrative Expenses |
429.5 |
471.0 |
386.5 |
317.8 |
403.6 |
|
Depreciation |
24.0 |
-25.0 |
24.7 |
26.4 |
27.2 |
|
Depreciation/Amortization |
24.0 |
-25.0 |
24.7 |
26.4 |
27.2 |
|
Restructuring Charge |
- |
- |
- |
- |
0.0 |
|
Litigation |
- |
- |
0.0 |
4.7 |
0.0 |
|
Impairment-Assets Held for Use |
0.5 |
- |
0.0 |
7.0 |
56.9 |
|
Impairment-Assets Held for Sale |
0.0 |
4.6 |
2.5 |
1.0 |
6.8 |
|
Other Unusual Expense (Income) |
-8.6 |
-20.0 |
3.1 |
-10.7 |
52.9 |
|
Unusual Expense (Income) |
-8.2 |
-15.3 |
5.6 |
2.1 |
116.6 |
|
Other Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Other Operating Expenses, Total |
0.0 |
0.0 |
- |
- |
- |
|
Total Operating Expense |
2,916.7 |
2,689.4 |
2,469.8 |
2,041.0 |
2,334.7 |
|
|
|
|
|
|
|
|
Operating Income |
-2.6 |
24.4 |
57.2 |
53.9 |
-178.3 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-27.4 |
-25.5 |
-24.2 |
-25.1 |
-22.7 |
|
Interest Expense, Net Non-Operating |
-27.4 |
-25.5 |
-24.2 |
-25.1 |
-22.7 |
|
Interest Income -
Non-Operating |
1.2 |
0.9 |
1.0 |
1.0 |
1.7 |
|
Investment Income -
Non-Operating |
33.6 |
11.2 |
28.5 |
32.3 |
-13.2 |
|
Interest/Investment Income - Non-Operating |
34.8 |
12.1 |
29.5 |
33.3 |
-11.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
7.5 |
-13.4 |
5.3 |
8.2 |
-34.2 |
|
Gain (Loss) on Sale of Assets |
-1.7 |
-2.1 |
-0.5 |
-1.4 |
-1.8 |
|
Other Non-Operating Income (Expense) |
6.6 |
8.7 |
6.4 |
7.1 |
1.8 |
|
Other, Net |
6.6 |
8.7 |
6.4 |
7.1 |
1.8 |
|
Income Before Tax |
9.8 |
17.6 |
68.3 |
67.8 |
-212.5 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.1 |
7.4 |
-7.0 |
15.2 |
95.2 |
|
Income After Tax |
9.7 |
10.2 |
75.4 |
52.6 |
-307.7 |
|
|
|
|
|
|
|
|
Minority Interest |
3.3 |
5.1 |
-4.4 |
-5.1 |
0.8 |
|
Net Income Before Extraord Items |
13.1 |
15.2 |
71.0 |
47.5 |
-306.9 |
|
Net Income |
13.1 |
15.2 |
71.0 |
47.5 |
-306.9 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
- |
- |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
- |
- |
- |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
13.1 |
15.2 |
71.0 |
47.4 |
-306.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
13.1 |
15.2 |
71.0 |
47.4 |
-306.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
136.3 |
136.3 |
136.3 |
136.3 |
136.3 |
|
Basic EPS Excl Extraord Items |
0.10 |
0.11 |
0.52 |
0.35 |
-2.25 |
|
Basic/Primary EPS Incl Extraord Items |
0.10 |
0.11 |
0.52 |
0.35 |
-2.25 |
|
Dilution Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
13.1 |
15.2 |
71.0 |
47.4 |
-306.9 |
|
Diluted Weighted Average Shares |
136.3 |
136.3 |
136.3 |
136.3 |
136.3 |
|
Diluted EPS Excl Extraord Items |
0.10 |
0.11 |
0.52 |
0.35 |
-2.25 |
|
Diluted EPS Incl Extraord Items |
0.10 |
0.11 |
0.52 |
0.35 |
-2.25 |
|
Dividends per Share - Common Stock Primary Issue |
0.12 |
0.09 |
0.09 |
0.05 |
0.00 |
|
Gross Dividends - Common Stock |
16.5 |
13.0 |
12.0 |
7.3 |
0.0 |
|
Interest Expense, Supplemental |
27.4 |
25.5 |
24.2 |
25.1 |
22.7 |
|
Depreciation, Supplemental |
112.4 |
117.5 |
112.5 |
116.2 |
144.8 |
|
Total Special Items |
-8.1 |
-14.6 |
4.9 |
2.4 |
117.2 |
|
Normalized Income Before Tax |
1.7 |
3.0 |
73.3 |
70.2 |
-95.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
-5.6 |
2.1 |
0.8 |
41.4 |
|
Inc Tax Ex Impact of Sp Items |
0.0 |
1.8 |
-4.9 |
16.0 |
136.6 |
|
Normalized Income After Tax |
1.7 |
1.1 |
78.2 |
54.2 |
-232.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
5.0 |
6.2 |
73.8 |
49.1 |
-231.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.04 |
0.05 |
0.54 |
0.36 |
-1.70 |
|
Diluted Normalized EPS |
0.04 |
0.05 |
0.54 |
0.36 |
-1.70 |
|
Amort of Acquisition Costs, Supplemental |
-1.6 |
-1.4 |
-1.2 |
-1.1 |
-1.2 |
|
Research & Development Exp, Supplemental |
83.0 |
94.1 |
71.6 |
58.5 |
69.9 |
|
Reported Operating Profit |
-10.8 |
9.0 |
62.7 |
56.0 |
-61.7 |
|
Reported Ordinary Profit |
3.0 |
3.8 |
74.5 |
71.3 |
-94.1 |
|
Normalized EBIT |
-10.8 |
9.0 |
62.8 |
56.0 |
-61.7 |
|
Normalized EBITDA |
100.0 |
125.2 |
174.1 |
171.0 |
81.9 |
|
Current Tax - Total |
18.7 |
11.0 |
- |
- |
- |
|
Current Tax - Total |
18.7 |
11.0 |
- |
- |
- |
|
Deferred Tax - Total |
-18.6 |
-3.5 |
- |
- |
- |
|
Deferred Tax - Total |
-18.6 |
-3.5 |
- |
- |
- |
|
Income Tax - Total |
0.1 |
7.4 |
- |
- |
- |
|
Interest Cost - Domestic |
3.2 |
3.4 |
3.1 |
2.8 |
3.1 |
|
Service Cost - Domestic |
7.1 |
7.7 |
7.5 |
7.4 |
8.1 |
|
Prior Service Cost - Domestic |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Expected Return on Assets - Domestic |
-2.5 |
-2.5 |
-1.5 |
-1.4 |
-1.2 |
|
Actuarial Gains and Losses - Domestic |
1.4 |
0.4 |
0.5 |
0.5 |
1.1 |
|
Other Pension, Net - Domestic |
1.1 |
- |
1.4 |
0.3 |
1.8 |
|
Domestic Pension Plan Expense |
10.4 |
9.0 |
10.9 |
9.7 |
12.9 |
|
Defined Contribution Expense - Domestic |
8.1 |
8.6 |
6.4 |
5.5 |
6.0 |
|
Total Pension Expense |
18.4 |
17.6 |
17.4 |
15.1 |
18.8 |
|
Discount Rate - Domestic |
1.70% |
1.70% |
1.70% |
1.70% |
1.70% |
|
Expected Rate of Return - Domestic |
1.00% |
0.60% |
0.60% |
0.80% |
0.80% |
|
Total Plan Interest Cost |
3.2 |
3.4 |
3.1 |
2.8 |
3.1 |
|
Total Plan Service Cost |
7.1 |
7.7 |
7.5 |
7.4 |
8.1 |
|
Total Plan Expected Return |
-2.5 |
-2.5 |
-1.5 |
-1.4 |
-1.2 |
|
Total Plan Other Expense |
1.1 |
- |
1.4 |
0.3 |
1.8 |
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 |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
212.2 |
180.3 |
223.7 |
258.1 |
224.5 |
|
Short Term Investments |
- |
- |
0.0 |
0.3 |
0.3 |
|
Cash and Short Term Investments |
212.2 |
180.3 |
223.7 |
258.4 |
224.8 |
|
Accounts Receivable -
Trade, Gross |
711.2 |
706.2 |
687.4 |
563.1 |
454.8 |
|
Provision for Doubtful
Accounts |
-10.9 |
-8.4 |
-9.7 |
-11.1 |
-12.1 |
|
Trade Accounts Receivable - Net |
700.3 |
697.7 |
677.7 |
552.0 |
442.7 |
|
Other Receivables |
69.0 |
101.4 |
88.5 |
64.2 |
40.2 |
|
Total Receivables, Net |
769.3 |
799.1 |
766.2 |
616.2 |
482.9 |
|
Inventories - Finished Goods |
214.5 |
250.5 |
204.2 |
154.8 |
197.8 |
|
Inventories - Work In Progress |
86.7 |
94.0 |
80.8 |
59.0 |
56.8 |
|
Inventories - Raw Materials |
140.3 |
103.3 |
96.5 |
60.9 |
74.2 |
|
Inventories - Other |
32.9 |
33.5 |
24.2 |
21.9 |
23.4 |
|
Total Inventory |
474.3 |
481.3 |
405.8 |
296.6 |
352.1 |
|
Deferred Income Tax - Current Asset |
38.1 |
26.7 |
21.5 |
7.2 |
7.0 |
|
Other Current Assets |
46.6 |
40.1 |
41.9 |
31.6 |
45.2 |
|
Other Current Assets, Total |
84.7 |
66.8 |
63.4 |
38.8 |
52.2 |
|
Total Current Assets |
1,540.6 |
1,527.5 |
1,459.0 |
1,210.0 |
1,112.0 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
842.4 |
807.3 |
793.4 |
724.4 |
756.6 |
|
Goodwill, Net |
0.2 |
1.1 |
1.7 |
1.6 |
1.8 |
|
Intangibles, Net |
34.2 |
26.9 |
14.0 |
10.0 |
10.6 |
|
LT Investment - Affiliate Companies |
103.6 |
113.9 |
109.8 |
- |
- |
|
LT Investments - Other |
87.4 |
73.6 |
66.8 |
163.5 |
139.8 |
|
Long Term Investments |
191.0 |
187.5 |
176.6 |
163.5 |
139.8 |
|
Pension Benefits - Overfunded |
- |
- |
44.1 |
64.1 |
76.7 |
|
Deferred Income Tax - Long Term Asset |
9.5 |
9.8 |
4.5 |
4.6 |
4.0 |
|
Other Long Term Assets |
11.5 |
16.9 |
15.3 |
17.2 |
11.3 |
|
Other Long Term Assets, Total |
20.9 |
26.7 |
63.9 |
85.8 |
92.0 |
|
Total Assets |
2,629.3 |
2,576.9 |
2,508.6 |
2,195.3 |
2,112.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
474.0 |
526.2 |
531.3 |
392.8 |
259.4 |
|
Accrued Expenses |
30.7 |
30.8 |
38.6 |
32.1 |
22.5 |
|
Notes Payable/Short Term Debt |
560.6 |
483.2 |
274.9 |
169.3 |
328.4 |
|
Current Portion - Long Term Debt/Capital Leases |
146.3 |
284.3 |
240.0 |
170.1 |
146.9 |
|
Income Taxes Payable |
11.8 |
5.9 |
6.5 |
6.7 |
9.5 |
|
Other Payables |
84.7 |
76.0 |
78.0 |
47.6 |
112.7 |
|
Deferred Income Tax - Current Liability |
0.0 |
0.7 |
0.2 |
3.3 |
5.7 |
|
Other Current Liabilities |
98.9 |
111.5 |
119.0 |
83.0 |
100.0 |
|
Other Current liabilities, Total |
195.3 |
194.0 |
203.7 |
140.6 |
227.9 |
|
Total Current Liabilities |
1,406.9 |
1,518.5 |
1,288.6 |
904.9 |
985.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
564.9 |
367.7 |
488.4 |
626.2 |
540.8 |
|
Capital Lease Obligations |
37.3 |
43.8 |
26.3 |
25.0 |
36.0 |
|
Total Long Term Debt |
602.1 |
411.5 |
514.7 |
651.2 |
576.8 |
|
Total Debt |
1,309.1 |
1,178.9 |
1,029.7 |
990.6 |
1,052.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
10.8 |
10.0 |
7.9 |
15.8 |
4.4 |
|
Deferred Income Tax |
10.8 |
10.0 |
7.9 |
15.8 |
4.4 |
|
Minority Interest |
35.2 |
37.4 |
44.1 |
33.0 |
26.2 |
|
Reserves |
5.9 |
7.2 |
8.4 |
9.2 |
7.5 |
|
Pension Benefits - Underfunded |
34.5 |
37.3 |
83.1 |
95.8 |
87.9 |
|
Other Long Term Liabilities |
6.2 |
7.3 |
10.7 |
12.9 |
16.0 |
|
Other Liabilities, Total |
46.6 |
51.9 |
102.2 |
118.0 |
111.4 |
|
Total Liabilities |
2,101.6 |
2,029.2 |
1,957.5 |
1,722.8 |
1,703.8 |
|
|
|
|
|
|
|
|
Common Stock |
117.3 |
134.0 |
133.2 |
118.1 |
111.7 |
|
Common Stock |
117.3 |
134.0 |
133.2 |
118.1 |
111.7 |
|
Additional Paid-In Capital |
47.3 |
54.1 |
53.7 |
47.7 |
275.4 |
|
Retained Earnings (Accumulated Deficit) |
423.6 |
480.2 |
475.2 |
363.2 |
68.6 |
|
Treasury Stock - Common |
-23.4 |
-26.6 |
-26.4 |
-23.4 |
-22.1 |
|
Unrealized Gain (Loss) |
19.4 |
8.7 |
1.4 |
5.4 |
1.7 |
|
Translation Adjustment |
-57.7 |
-103.1 |
-84.1 |
-34.7 |
-25.8 |
|
Other Equity |
0.0 |
0.0 |
- |
- |
- |
|
Other Comprehensive Income |
1.2 |
0.4 |
-1.8 |
-3.6 |
-0.6 |
|
Other Equity, Total |
-56.5 |
-102.7 |
-85.9 |
-38.4 |
-26.3 |
|
Total Equity |
527.7 |
547.7 |
551.1 |
472.5 |
409.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,629.3 |
2,576.9 |
2,508.6 |
2,195.3 |
2,112.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
136.3 |
136.3 |
136.3 |
136.3 |
136.3 |
|
Total Common Shares Outstanding |
136.3 |
136.3 |
136.3 |
136.3 |
136.3 |
|
Treasury Shares - Common Stock Primary Issue |
4.1 |
4.0 |
4.0 |
4.0 |
4.0 |
|
Employees |
10,194 |
8,545 |
8,281 |
7,880 |
8,064 |
|
Number of Common Shareholders |
10,325 |
- |
10,001 |
10,161 |
10,148 |
|
Total Long Term Debt, Supplemental |
699.3 |
637.1 |
713.4 |
779.1 |
667.2 |
|
Long Term Debt Maturing within 1 Year |
134.5 |
269.4 |
225.0 |
152.9 |
126.5 |
|
Long Term Debt Maturing in Year 2 |
108.4 |
139.2 |
257.9 |
201.5 |
80.1 |
|
Long Term Debt Maturing in Year 3 |
48.3 |
87.7 |
133.6 |
228.8 |
161.7 |
|
Long Term Debt Maturing in Year 4 |
139.6 |
14.6 |
88.0 |
120.8 |
181.7 |
|
Long Term Debt Maturing in Year 5 |
247.5 |
125.9 |
8.0 |
68.7 |
50.9 |
|
Long Term Debt Maturing in 2-3 Years |
156.7 |
226.9 |
391.5 |
430.3 |
241.9 |
|
Long Term Debt Maturing in 4-5 Years |
387.1 |
140.4 |
96.0 |
189.5 |
232.7 |
|
Long Term Debt Matur. in Year 6 & Beyond |
21.0 |
0.4 |
0.9 |
6.4 |
66.2 |
|
Total Capital Leases, Supplemental |
49.1 |
58.6 |
41.4 |
42.2 |
56.4 |
|
Capital Lease Payments Due in Year 1 |
11.9 |
14.8 |
15.1 |
17.2 |
20.4 |
|
Capital Lease Payments Due in Year 2 |
10.2 |
13.0 |
10.7 |
14.1 |
21.3 |
|
Capital Lease Payments Due in Year 3 |
7.8 |
10.1 |
6.7 |
7.2 |
8.3 |
|
Capital Lease Payments Due in Year 4 |
6.8 |
7.1 |
5.1 |
2.5 |
4.3 |
|
Capital Lease Payments Due in Year 5 |
6.1 |
- |
2.4 |
0.9 |
1.6 |
|
Capital Lease Payments Due in 2-3 Years |
18.0 |
23.1 |
17.4 |
21.3 |
29.5 |
|
Capital Lease Payments Due in 4-5 Years |
12.9 |
7.1 |
7.5 |
3.5 |
5.8 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
6.4 |
13.6 |
1.4 |
0.2 |
0.6 |
|
Pension Obligation - Domestic |
129.4 |
138.3 |
132.1 |
120.9 |
114.2 |
|
Plan Assets - Domestic |
99.4 |
95.8 |
48.2 |
23.7 |
22.7 |
|
Funded Status - Domestic |
-30.0 |
-42.4 |
-83.9 |
-97.2 |
-91.5 |
|
Total Funded Status |
-30.0 |
-42.4 |
-83.9 |
-97.2 |
-91.5 |
|
Discount Rate - Domestic |
1.70% |
1.70% |
1.70% |
1.70% |
1.70% |
|
Expected Rate of Return - Domestic |
1.00% |
0.60% |
0.60% |
0.80% |
0.80% |
|
Accrued Liabilities - Domestic |
-32.6 |
-35.1 |
-80.2 |
-93.6 |
-85.7 |
|
Other Assets, Net - Domestic |
-2.6 |
7.3 |
3.7 |
3.5 |
5.8 |
|
Net Assets Recognized on Balance Sheet |
-35.1 |
-27.8 |
-76.4 |
-90.1 |
-79.8 |
|
Total Plan Obligations |
129.4 |
138.3 |
132.1 |
120.9 |
114.2 |
|
Total Plan Assets |
99.4 |
95.8 |
48.2 |
23.7 |
22.7 |
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 |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
9.8 |
17.6 |
68.3 |
67.8 |
-212.5 |
|
Depreciation |
112.4 |
117.5 |
112.5 |
116.2 |
144.8 |
|
Depreciation/Depletion |
112.4 |
117.5 |
112.5 |
116.2 |
144.8 |
|
Amortization of Acquisition Costs |
-1.6 |
-1.4 |
-1.2 |
-1.1 |
-1.2 |
|
Amortization |
-1.6 |
-1.4 |
-1.2 |
-1.1 |
-1.2 |
|
Unusual Items |
1.9 |
-1.5 |
-7.9 |
14.3 |
65.5 |
|
Equity in Net Earnings (Loss) |
-20.1 |
-12.5 |
-22.5 |
-21.1 |
-13.7 |
|
Other Non-Cash Items |
22.5 |
-44.1 |
20.9 |
15.8 |
16.9 |
|
Non-Cash Items |
4.4 |
-58.2 |
-9.4 |
9.0 |
68.7 |
|
Accounts Receivable |
-43.4 |
-33.6 |
-109.8 |
-112.0 |
155.6 |
|
Inventories |
1.7 |
-94.4 |
-84.2 |
72.3 |
7.7 |
|
Other Assets |
4.0 |
-3.6 |
-7.9 |
-2.4 |
9.0 |
|
Accounts Payable |
-8.7 |
-4.9 |
107.8 |
59.2 |
-154.7 |
|
Accrued Expenses |
-1.0 |
-9.3 |
12.4 |
7.0 |
-0.4 |
|
Other Operating Cash Flow |
-39.6 |
2.9 |
2.7 |
-13.9 |
-4.6 |
|
Changes in Working Capital |
-86.9 |
-142.8 |
-79.1 |
10.2 |
12.6 |
|
Cash from Operating Activities |
38.1 |
-67.3 |
91.2 |
202.0 |
12.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-187.6 |
-126.1 |
-77.4 |
-81.1 |
-123.3 |
|
Purchase/Acquisition of Intangibles |
-10.2 |
-16.8 |
-5.3 |
-3.1 |
-4.8 |
|
Capital Expenditures |
-197.8 |
-142.9 |
-82.7 |
-84.2 |
-128.1 |
|
Sale of Business |
- |
- |
- |
0.0 |
0.2 |
|
Sale of Fixed Assets |
4.2 |
5.4 |
5.1 |
9.8 |
12.8 |
|
Sale/Maturity of Investment |
10.7 |
0.5 |
3.8 |
0.1 |
0.0 |
|
Investment, Net |
- |
0.0 |
0.2 |
0.0 |
0.9 |
|
Purchase of Investments |
-18.4 |
-4.3 |
-3.9 |
-0.4 |
-15.0 |
|
Other Investing Cash Flow |
-1.1 |
45.1 |
7.0 |
17.4 |
5.9 |
|
Other Investing Cash Flow Items, Total |
-4.6 |
46.8 |
12.3 |
26.9 |
4.8 |
|
Cash from Investing Activities |
-202.4 |
-96.1 |
-70.5 |
-57.3 |
-123.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.0 |
-0.6 |
4.0 |
0.0 |
2.8 |
|
Financing Cash Flow Items |
0.0 |
-0.6 |
4.0 |
0.0 |
2.8 |
|
Cash Dividends Paid - Common |
-12.3 |
-12.9 |
-7.9 |
0.0 |
-6.8 |
|
Total Cash Dividends Paid |
-12.3 |
-12.9 |
-7.9 |
0.0 |
-6.8 |
|
Repurchase/Retirement
of Common |
- |
- |
- |
- |
-0.1 |
|
Common Stock, Net |
- |
- |
- |
- |
-0.1 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
- |
- |
-0.1 |
|
Short Term Debt, Net |
109.0 |
223.9 |
94.7 |
-176.3 |
212.2 |
|
Long Term Debt Issued |
406.6 |
157.5 |
15.4 |
233.2 |
157.1 |
|
Long Term Debt
Reduction |
-289.5 |
-248.4 |
-182.5 |
-178.6 |
-120.2 |
|
Long Term Debt, Net |
117.1 |
-90.9 |
-167.1 |
54.6 |
36.9 |
|
Issuance (Retirement) of Debt, Net |
226.2 |
133.0 |
-72.5 |
-121.7 |
249.1 |
|
Cash from Financing Activities |
213.8 |
119.5 |
-76.4 |
-121.7 |
245.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
12.2 |
-2.7 |
-9.4 |
-1.9 |
-9.1 |
|
Net Change in Cash |
61.7 |
-46.6 |
-65.0 |
21.0 |
124.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
178.9 |
234.6 |
281.2 |
238.3 |
95.5 |
|
Net Cash - Ending Balance |
240.6 |
188.0 |
216.2 |
259.3 |
220.4 |
|
Cash Interest Paid |
27.1 |
25.9 |
24.3 |
25.9 |
22.0 |
|
Cash Taxes Paid |
9.7 |
15.5 |
13.2 |
-5.0 |
27.3 |
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 |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
2,914.0 |
2,713.8 |
2,527.0 |
2,094.8 |
2,156.5 |
|
Total Revenue |
2,914.0 |
2,713.8 |
2,527.0 |
2,094.8 |
2,156.5 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
0.0 |
- |
- |
- |
|
Cost of Sales |
2,471.3 |
2,258.7 |
2,053.0 |
1,694.6 |
1,787.3 |
|
Oth SGA |
181.7 |
- |
- |
- |
- |
|
Selling General And Administrative Expen |
8.2 |
5.7 |
- |
- |
- |
|
Other Selling/General/Admin. Expense |
- |
232.0 |
- |
- |
- |
|
Payrolls |
163.9 |
160.1 |
143.5 |
121.4 |
156.7 |
|
Freight costs |
52.6 |
52.6 |
46.4 |
32.6 |
42.1 |
|
Depreciation expenses |
24.0 |
-25.0 |
24.7 |
26.4 |
27.2 |
|
Provision for bonuses |
14.7 |
11.0 |
15.1 |
13.4 |
10.1 |
|
Prov. for after service |
- |
- |
9.5 |
8.6 |
8.1 |
|
Provision for directors' bonuses |
- |
- |
- |
- |
0.0 |
|
Periodic retirement benefit costs |
8.3 |
9.6 |
9.0 |
7.1 |
10.1 |
|
Other general expenses |
- |
- |
163.0 |
134.8 |
176.5 |
|
Other Unusual Expense (Income) |
0.0 |
- |
- |
- |
- |
|
Social insurance premium refunds |
-4.4 |
- |
- |
- |
- |
|
Reversal of Impairment loss |
0.0 |
-7.7 |
- |
- |
- |
|
SP Reversal Gain on Allow.Doubt.Account |
- |
0.0 |
-0.9 |
-2.9 |
-0.3 |
|
SP Reserve for After Service |
- |
0.0 |
-0.3 |
-0.5 |
-1.5 |
|
SP G on insurance adjustment |
-4.1 |
-14.2 |
-0.8 |
-6.9 |
0.0 |
|
SP Reversal loss on foreign curr. trans. |
- |
0.0 |
-10.6 |
0.0 |
- |
|
SP Reversal of Impairment loss |
- |
- |
0.0 |
- |
- |
|
SP Other Special Gains |
-0.2 |
0.0 |
-4.1 |
-1.2 |
-1.3 |
|
SP Officer's retirement benefits |
- |
- |
- |
- |
0.0 |
|
SP Val.Loss-Invest.Sec |
0.0 |
4.6 |
2.5 |
1.0 |
6.8 |
|
SP Impairment loss |
0.5 |
- |
0.0 |
7.0 |
56.9 |
|
SP L on lease accounting appli. |
- |
- |
- |
0.0 |
2.6 |
|
SP L on early installment retirement |
- |
- |
- |
0.0 |
52.0 |
|
Product warranty expenses |
- |
0.0 |
3.7 |
0.0 |
- |
|
SP Business reorganization exp. |
- |
- |
- |
- |
0.0 |
|
SP Loss on litigation |
- |
- |
0.0 |
4.7 |
0.0 |
|
SP L on Disaster |
0.0 |
1.4 |
15.0 |
0.0 |
- |
|
SP Other Special Losses |
0.1 |
0.5 |
1.1 |
0.9 |
1.4 |
|
Total Operating Expense |
2,916.7 |
2,689.4 |
2,469.8 |
2,041.0 |
2,334.7 |
|
|
|
|
|
|
|
|
SP Sale Gain-Fixed Asst |
0.5 |
0.9 |
1.0 |
0.3 |
1.9 |
|
Gain On Sales Of Investment Securities |
0.2 |
0.5 |
- |
- |
- |
|
SP Gain on Sale of LT Inv't in Secs |
- |
- |
0.0 |
- |
0.0 |
|
SP Gain on transfer of business |
- |
- |
- |
0.0 |
0.2 |
|
SP Disposal-Fixed Asset |
-2.2 |
-3.0 |
-1.5 |
-1.7 |
-4.0 |
|
SP Loss on Sale of LT Inv't. Secs. |
- |
- |
- |
- |
0.0 |
|
NOP Interest Income |
1.2 |
0.9 |
1.0 |
1.0 |
1.7 |
|
NOP Dividends Received |
1.6 |
1.9 |
1.6 |
1.3 |
1.5 |
|
NOP Foreign Exchange Gains |
11.7 |
0.0 |
4.4 |
9.9 |
0.0 |
|
Provision of allowance for doubtful acco |
-5.8 |
- |
- |
- |
- |
|
Other Non-Operating Income (Expense) |
0.0 |
0.0 |
- |
- |
- |
|
NOP Equity Earnings |
20.1 |
12.5 |
22.5 |
21.1 |
13.7 |
|
Miscellaneous income |
15.3 |
16.2 |
12.1 |
16.3 |
15.4 |
|
NOP Interest Expenses |
-27.4 |
-25.5 |
-24.2 |
-25.1 |
-22.7 |
|
NOP Foreign Exchange Losses |
0.0 |
-3.8 |
0.0 |
0.0 |
-28.4 |
|
Miscellaneous loss |
-2.9 |
-7.5 |
-5.7 |
-9.1 |
-13.6 |
|
Net Income Before Taxes |
9.8 |
17.6 |
68.3 |
67.8 |
-212.5 |
|
|
|
|
|
|
|
|
Total income taxes |
0.1 |
7.4 |
-7.0 |
15.2 |
95.2 |
|
Net Income After Taxes |
9.7 |
10.2 |
75.4 |
52.6 |
-307.7 |
|
|
|
|
|
|
|
|
Minority interests in income (loss) |
3.3 |
5.1 |
-4.4 |
-5.1 |
0.8 |
|
Net Income Before Extra. Items |
13.1 |
15.2 |
71.0 |
47.5 |
-306.9 |
|
Net Income |
13.1 |
15.2 |
71.0 |
47.5 |
-306.9 |
|
|
|
|
|
|
|
|
Earning Adjustment |
- |
- |
- |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
13.1 |
15.2 |
71.0 |
47.4 |
-306.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
13.1 |
15.2 |
71.0 |
47.4 |
-306.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
136.3 |
136.3 |
136.3 |
136.3 |
136.3 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.10 |
0.11 |
0.52 |
0.35 |
-2.25 |
|
Basic EPS Including ExtraOrdinary Items |
0.10 |
0.11 |
0.52 |
0.35 |
-2.25 |
|
Dilution Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
13.1 |
15.2 |
71.0 |
47.4 |
-306.9 |
|
Diluted Weighted Average Shares |
136.3 |
136.3 |
136.3 |
136.3 |
136.3 |
|
Diluted EPS Excluding ExtraOrd Items |
0.10 |
0.11 |
0.52 |
0.35 |
-2.25 |
|
Diluted EPS Including ExtraOrd Items |
0.10 |
0.11 |
0.52 |
0.35 |
-2.25 |
|
DPS-Ordinary Shares |
0.12 |
0.09 |
0.09 |
0.05 |
0.00 |
|
Gross Dividends - Common Stock |
16.5 |
13.0 |
12.0 |
7.3 |
0.0 |
|
Normalized Income Before Taxes |
1.7 |
3.0 |
73.3 |
70.2 |
-95.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.0 |
1.8 |
-4.9 |
16.0 |
136.6 |
|
Normalized Income After Taxes |
1.7 |
1.1 |
78.2 |
54.2 |
-232.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
5.0 |
6.2 |
73.8 |
49.1 |
-231.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.04 |
0.05 |
0.54 |
0.36 |
-1.70 |
|
Diluted Normalized EPS |
0.04 |
0.05 |
0.54 |
0.36 |
-1.70 |
|
Research and Development(SGA&COR) |
83.0 |
94.1 |
71.6 |
58.5 |
69.9 |
|
Interest Expense |
27.4 |
25.5 |
24.2 |
25.1 |
22.7 |
|
BC - Depreciation of Fixed Assets |
112.4 |
- |
- |
- |
- |
|
Amort of Tangible Assets-Current Portion |
- |
117.5 |
- |
- |
- |
|
Depreciation |
- |
- |
112.5 |
116.2 |
144.8 |
|
BC - Depreciation of Goodwill |
-1.6 |
- |
- |
- |
- |
|
Amortization of Goodwill - footnote |
- |
-1.4 |
- |
- |
- |
|
Amort. of Goodwill |
- |
- |
-1.2 |
-1.1 |
-1.2 |
|
Income taxes-current |
18.7 |
11.0 |
- |
- |
- |
|
Current Tax - Total |
18.7 |
11.0 |
- |
- |
- |
|
Income taxes-deferred |
-18.6 |
-3.5 |
- |
- |
- |
|
Deferred Tax - Total |
-18.6 |
-3.5 |
- |
- |
- |
|
Income Tax - Total |
0.1 |
7.4 |
- |
- |
- |
|
Reported Operating Profit |
-10.8 |
9.0 |
62.7 |
56.0 |
-61.7 |
|
Reported Ordinary Profit |
3.0 |
3.8 |
74.5 |
71.3 |
-94.1 |
|
Service Cost |
7.1 |
7.7 |
7.5 |
7.4 |
8.1 |
|
Interest Cost |
3.2 |
3.4 |
3.1 |
2.8 |
3.1 |
|
Expected Return on Plan Assets |
-2.5 |
-2.5 |
-1.5 |
-1.4 |
-1.2 |
|
Pension Exp. due to Acct. Changes |
0.0 |
- |
0.1 |
0.1 |
0.1 |
|
Actuarial Gains and Losses |
1.4 |
0.4 |
0.5 |
0.5 |
1.1 |
|
Prior Service Cost |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Nonrecurr. additional retire. benefits |
1.1 |
- |
1.3 |
0.0 |
1.6 |
|
Welfare Pension Contribution Expense |
- |
- |
- |
0.2 |
0.0 |
|
Domestic Pension Plan Expense |
10.4 |
9.0 |
10.9 |
9.7 |
12.9 |
|
Defined Contribution Expense |
8.1 |
8.6 |
6.4 |
5.5 |
6.0 |
|
Total Pension Expense |
18.4 |
17.6 |
17.4 |
15.1 |
18.8 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.70% |
1.70% |
- |
- |
- |
|
Discount Rate |
- |
- |
1.70% |
1.70% |
1.70% |
|
Expected return on assets(MIN)-Retiremen |
1.00% |
0.60% |
- |
- |
- |
|
Expected Rate of Return |
- |
- |
0.60% |
0.80% |
0.80% |
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 |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Deposit |
212.2 |
180.3 |
223.7 |
258.1 |
224.5 |
|
Notes and accounts receivable-trade |
711.2 |
706.2 |
687.4 |
563.1 |
454.8 |
|
Marketable Sec |
- |
- |
0.0 |
0.3 |
0.3 |
|
Merchandise & finished goods |
214.5 |
250.5 |
204.2 |
154.8 |
197.8 |
|
Inventories - work-in-process |
86.7 |
94.0 |
80.8 |
59.0 |
56.8 |
|
Inventories - raw materials |
140.3 |
103.3 |
96.5 |
60.9 |
74.2 |
|
Other inventories |
32.9 |
33.5 |
24.2 |
21.9 |
23.4 |
|
Dfrd. Tax Asset |
38.1 |
26.7 |
21.5 |
7.2 |
7.0 |
|
Accounts receivable-other |
29.3 |
61.9 |
32.7 |
30.6 |
23.7 |
|
Consumption taxes Rcvbl |
39.6 |
39.5 |
55.8 |
33.6 |
16.5 |
|
Rounding adjustment Assets |
0.0 |
0.1 |
- |
- |
- |
|
Other Curr.Asset |
46.5 |
40.0 |
41.9 |
31.6 |
45.2 |
|
Doubtful Account |
-10.9 |
-8.4 |
-9.7 |
-11.1 |
-12.1 |
|
Total Current Assets |
1,540.6 |
1,527.5 |
1,459.0 |
1,210.0 |
1,112.0 |
|
|
|
|
|
|
|
|
Other Total PPE |
0.0 |
- |
- |
- |
- |
|
Other Total PPE,Net |
- |
0.0 |
- |
- |
- |
|
Buildings and structures, net |
212.7 |
232.7 |
247.0 |
240.5 |
250.0 |
|
Machinery, equipment and vehicles, net |
252.0 |
202.5 |
187.5 |
181.3 |
203.1 |
|
Tools Furnitures And Fixtures |
36.2 |
30.3 |
29.7 |
22.4 |
28.3 |
|
Land |
212.6 |
227.3 |
229.5 |
204.9 |
194.2 |
|
Lease assets, net |
56.3 |
66.5 |
51.0 |
49.5 |
59.7 |
|
Construction-in-progress |
72.5 |
48.0 |
48.7 |
25.7 |
21.4 |
|
Other Total intangible assets |
0.0 |
- |
- |
- |
- |
|
Other Total Intangible Assets, Net |
- |
0.0 |
- |
- |
- |
|
Goodwill |
0.2 |
1.1 |
1.7 |
1.6 |
1.8 |
|
Lease Assets |
1.8 |
1.6 |
2.2 |
2.4 |
2.6 |
|
Other Intangible Assets,Net |
32.4 |
25.3 |
11.7 |
7.6 |
8.0 |
|
Investment Securities - Balancing value |
87.4 |
- |
- |
- |
- |
|
Long-Term Investment in Securities |
- |
73.6 |
66.8 |
163.5 |
139.8 |
|
Stocks Of Subsidiaries And Affiliates |
103.6 |
- |
- |
- |
- |
|
Equity secs.-nonconsolidated affil. |
- |
113.9 |
109.8 |
- |
- |
|
Pension Fund |
- |
- |
44.1 |
64.1 |
76.7 |
|
Deferred tax assets |
9.5 |
9.8 |
4.5 |
4.6 |
4.0 |
|
Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Total investments and other assets |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Assets |
- |
0.0 |
- |
- |
- |
|
Other Assets |
13.7 |
19.3 |
17.6 |
19.2 |
13.8 |
|
Doubtful Account |
-2.3 |
-2.4 |
-2.3 |
-2.0 |
-2.5 |
|
Translate Adjust |
- |
- |
- |
- |
0.0 |
|
Total Assets |
2,629.3 |
2,576.9 |
2,508.6 |
2,195.3 |
2,112.8 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
474.0 |
526.2 |
531.3 |
392.8 |
259.4 |
|
Short-term loans payable |
560.6 |
483.2 |
274.9 |
169.3 |
328.4 |
|
Current portion of long-term loans payab |
134.5 |
269.4 |
121.2 |
152.9 |
75.8 |
|
Current Portion-Corporate Bond |
- |
- |
103.8 |
0.0 |
50.6 |
|
Accounts payable-other |
84.7 |
76.0 |
78.0 |
47.6 |
112.7 |
|
Lease Debt |
11.9 |
14.8 |
15.1 |
17.2 |
20.4 |
|
Income Taxes Payable |
11.8 |
5.9 |
6.5 |
6.7 |
9.5 |
|
Bonus Allowance |
30.7 |
30.8 |
38.6 |
32.1 |
22.5 |
|
Rounding adjustment Liability |
0.0 |
0.0 |
- |
- |
- |
|
Reserve for Sales Rebates |
3.9 |
4.8 |
3.3 |
3.3 |
3.7 |
|
Res-After Service |
14.6 |
15.7 |
19.2 |
13.6 |
13.5 |
|
Deferred Tax Liabilities (Current) |
0.0 |
0.7 |
0.2 |
3.3 |
5.7 |
|
Other Current Liabilities |
80.3 |
91.0 |
96.5 |
66.1 |
82.9 |
|
Total Current Liabilities |
1,406.9 |
1,518.5 |
1,288.6 |
904.9 |
985.0 |
|
|
|
|
|
|
|
|
Corporate Bond |
- |
- |
0.0 |
92.0 |
101.2 |
|
Long-term loans payable |
564.9 |
367.7 |
488.4 |
534.2 |
439.5 |
|
Lease Debt |
37.3 |
43.8 |
26.3 |
25.0 |
36.0 |
|
Total Long Term Debt |
602.1 |
411.5 |
514.7 |
651.2 |
576.8 |
|
|
|
|
|
|
|
|
Dfrd. Tax Liab. |
10.8 |
10.0 |
7.9 |
15.8 |
4.4 |
|
Reserve for Retirement Benefit(accrued) |
32.6 |
35.1 |
80.2 |
93.6 |
85.7 |
|
Provision for directors'' retirement ben |
1.9 |
2.2 |
3.0 |
2.2 |
2.2 |
|
Res-Environment |
5.9 |
7.2 |
8.4 |
9.2 |
7.5 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
- |
- |
- |
|
Negative Goodwill |
0.2 |
2.2 |
4.1 |
5.4 |
6.7 |
|
Other Long-Term Liabilities |
5.9 |
5.1 |
6.6 |
7.6 |
9.3 |
|
Minority Interests |
35.2 |
37.4 |
44.1 |
33.0 |
26.2 |
|
Total Liabilities |
2,101.6 |
2,029.2 |
1,957.5 |
1,722.8 |
1,703.8 |
|
|
|
|
|
|
|
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Equity |
- |
0.0 |
- |
- |
- |
|
Common Stock |
117.3 |
134.0 |
133.2 |
118.1 |
111.7 |
|
Total capital surpluses |
47.3 |
54.1 |
53.7 |
47.7 |
275.4 |
|
Total retained earnings |
423.6 |
480.2 |
475.2 |
363.2 |
68.6 |
|
Treasury Stock |
-23.4 |
-26.6 |
-26.4 |
-23.4 |
-22.1 |
|
Valuation difference on available-for-sa |
19.4 |
8.7 |
1.4 |
5.4 |
1.7 |
|
Deferred hedge gain/loss |
1.2 |
0.4 |
-1.8 |
-3.6 |
-0.6 |
|
Translate Adjust |
-57.7 |
-103.1 |
-84.1 |
-34.7 |
-25.8 |
|
Total Equity |
527.7 |
547.7 |
551.1 |
472.5 |
409.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,629.3 |
2,576.9 |
2,508.6 |
2,195.3 |
2,112.8 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
136.3 |
136.3 |
136.3 |
136.3 |
136.3 |
|
Total Common Shares Outstanding |
136.3 |
136.3 |
136.3 |
136.3 |
136.3 |
|
T/S-Ordinary Shares |
4.1 |
4.0 |
4.0 |
4.0 |
4.0 |
|
Number Of Employees |
10,194 |
- |
- |
- |
- |
|
Full-Time Employees |
- |
8,545 |
8,281 |
7,880 |
8,064 |
|
Total Number of Shareholders |
10,325 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
- |
10,001 |
10,161 |
10,148 |
|
Division And End Of Current Period Remai |
21.0 |
0.4 |
- |
- |
- |
|
Long Term Debt Maturing Within 1 Year |
134.5 |
269.4 |
225.0 |
152.9 |
126.5 |
|
Lns Pble Maturing over a Yr within 2 Yrs |
108.4 |
139.2 |
- |
- |
- |
|
Long Term Debt Maturing Within 2 Year |
- |
- |
257.9 |
201.5 |
80.1 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
48.3 |
87.7 |
- |
- |
- |
|
Long Term Debt Maturing Within 3 Year |
- |
- |
133.6 |
228.8 |
161.7 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
139.6 |
14.6 |
- |
- |
- |
|
Long Term Debt Maturing Within 4 Year |
- |
- |
88.0 |
120.8 |
181.7 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
247.5 |
125.9 |
- |
- |
- |
|
Long Term Debt Maturing Within 5 Year |
- |
- |
8.0 |
68.7 |
50.9 |
|
Long Term Debt Remaining Maturities |
- |
- |
0.9 |
6.4 |
66.2 |
|
Total Long Term Debt, Supplemental |
699.3 |
637.1 |
713.4 |
779.1 |
667.2 |
|
Capital Lease Due Within 1 Year |
11.9 |
14.8 |
15.1 |
17.2 |
20.4 |
|
Cap Lease Maturg over a Yr within 2 Yrs |
10.2 |
13.0 |
- |
- |
- |
|
Capital Lease Due Within 2 Year |
- |
- |
10.7 |
14.1 |
21.3 |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
7.8 |
10.1 |
- |
- |
- |
|
Capital Lease Due Within 3 Year |
- |
- |
6.7 |
7.2 |
8.3 |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
6.8 |
7.1 |
- |
- |
- |
|
Capital Lease Due Within 4 Year |
- |
- |
5.1 |
2.5 |
4.3 |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
6.1 |
- |
- |
- |
- |
|
Capital Lease Due Within 5 Year |
- |
- |
2.4 |
0.9 |
1.6 |
|
Division And End Of Current Period Remai |
- |
5.4 |
- |
- |
- |
|
Capital Lease Remaining |
6.4 |
8.1 |
- |
- |
- |
|
Capital Lease Remaining Maturities |
- |
- |
1.4 |
0.2 |
0.6 |
|
Total Capital Leases, Supplemental |
49.1 |
58.6 |
41.4 |
42.2 |
56.4 |
|
Pension Obligation |
129.4 |
138.3 |
132.1 |
120.9 |
114.2 |
|
Fair Value of Plan Assets |
99.4 |
95.8 |
48.2 |
23.7 |
22.7 |
|
Funded Status |
-30.0 |
-42.4 |
-83.9 |
-97.2 |
-91.5 |
|
Total Funded Status |
-30.0 |
-42.4 |
-83.9 |
-97.2 |
-91.5 |
|
Discount Rate |
1.70% |
1.70% |
1.70% |
1.70% |
1.70% |
|
Expected Rate of Return |
1.00% |
0.60% |
0.60% |
0.80% |
0.80% |
|
Expense Unrecog. for Acct. Changes |
0.0 |
0.1 |
0.4 |
0.6 |
0.7 |
|
Unrecognized Actuarial Gains and Losses |
-2.8 |
7.0 |
3.9 |
3.2 |
5.3 |
|
Unrecognized Prior Service Cost |
0.3 |
0.3 |
-0.6 |
-0.2 |
-0.2 |
|
Reserve for Accrued Retirement Benefits |
-32.6 |
-35.1 |
-80.2 |
-93.6 |
-85.7 |
|
Net Assets Recognized on Balance Sheet |
-35.1 |
-27.8 |
-76.4 |
-90.1 |
-79.8 |
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 |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Income before income taxes |
9.8 |
17.6 |
68.3 |
67.8 |
-212.5 |
|
Depreciation |
112.4 |
117.5 |
112.5 |
116.2 |
144.8 |
|
Amort. of Goodwill |
-1.6 |
-1.4 |
-1.2 |
-1.1 |
-1.2 |
|
Increase (decrease) in accrued expenses |
-4.5 |
- |
- |
- |
- |
|
Increase (decrease) in provision for bon |
3.5 |
-8.1 |
2.7 |
8.4 |
-11.1 |
|
Contribution To Retirement Benefit Trust |
0.0 |
-46.3 |
- |
- |
- |
|
joopeb |
0.5 |
-0.4 |
-1.2 |
0.7 |
-10.4 |
|
Increase (decrease) in allowance for dou |
3.2 |
-0.8 |
-1.8 |
-1.9 |
3.4 |
|
Increase (decrease) in provision for pro |
-0.2 |
-3.7 |
4.1 |
-0.5 |
-1.8 |
|
(Decrease) increase in provision for env |
-1.3 |
-1.4 |
-0.9 |
1.6 |
2.2 |
|
Other Operating Cash Flow |
0.0 |
- |
- |
- |
- |
|
Increase In Cash And Cash Equivalents Fr |
0.1 |
- |
- |
- |
- |
|
Rounding adjustment Cash flow |
- |
-0.1 |
- |
- |
- |
|
Decrease In Cash And Cash Equivalents Re |
- |
-1.1 |
- |
- |
- |
|
Int. and Div. Income |
-2.9 |
-2.8 |
-2.6 |
-2.3 |
-3.2 |
|
Interest Expense |
27.4 |
25.5 |
24.2 |
25.1 |
22.7 |
|
Equity in (earnings) losses of affiliate |
-20.1 |
-12.5 |
-22.5 |
-21.1 |
-13.7 |
|
Gain on sales of noncurrent assets |
-0.5 |
-0.9 |
-1.0 |
-0.3 |
-1.9 |
|
Loss on disposal of noncurrent assets |
2.2 |
3.0 |
1.5 |
1.7 |
4.0 |
|
Reversal of Impairment loss |
0.0 |
-7.7 |
- |
- |
- |
|
Loss (gain) on valuation of investment s |
0.0 |
4.6 |
2.5 |
1.0 |
6.8 |
|
Loss (gain) on sales of investment secur |
-0.2 |
-0.5 |
-0.3 |
0.0 |
0.0 |
|
Insurance income |
-4.1 |
-14.2 |
-0.8 |
-6.9 |
0.0 |
|
Gains on transfer of business |
- |
- |
- |
0.0 |
-0.2 |
|
Reversal of Impairment loss |
- |
- |
0.0 |
- |
- |
|
Loss on litigation |
- |
0.0 |
0.0 |
4.7 |
0.0 |
|
Impairment Loss |
0.5 |
- |
0.0 |
7.0 |
56.9 |
|
Reversal of foreign currency translation |
- |
- |
-10.6 |
0.0 |
- |
|
Decrease (increase) in notes and account |
-49.1 |
-31.9 |
-86.2 |
-95.6 |
136.9 |
|
Decrease (increase) in inventories |
1.7 |
-94.4 |
-84.2 |
72.3 |
7.7 |
|
Decrease (increase) in accounts receivab |
8.1 |
-15.3 |
-5.0 |
0.4 |
14.3 |
|
Decrease (increase) in consumption taxes |
-2.4 |
13.6 |
-18.6 |
-16.8 |
4.5 |
|
JOOCAS |
4.0 |
-3.6 |
-7.9 |
-2.4 |
9.0 |
|
Increase (decrease) in accounts payable- |
12.1 |
- |
- |
- |
- |
|
Increase (decrease) in notes and account |
-20.8 |
-2.0 |
94.0 |
120.8 |
-186.1 |
|
Premium Retirement Benefit Payable |
- |
- |
0.0 |
-69.7 |
0.0 |
|
Increase (decrease) in accounts payable- |
- |
-2.9 |
13.8 |
8.2 |
31.3 |
|
Increase (decrease) in accrued expenses |
- |
-1.2 |
9.7 |
-1.4 |
10.6 |
|
Other, net |
-39.5 |
13.7 |
24.4 |
-3.6 |
38.0 |
|
Int. and Div. Rcvd. |
13.3 |
18.9 |
8.6 |
14.2 |
6.6 |
|
Interest Paid |
-27.1 |
-25.9 |
-24.3 |
-25.9 |
-22.0 |
|
Proceeds from insurance income |
23.2 |
12.9 |
7.2 |
1.1 |
0.0 |
|
Compensation for damage paid |
- |
- |
0.0 |
-4.7 |
0.0 |
|
Income taxes refund, cash basis |
- |
0.0 |
2.9 |
12.9 |
0.0 |
|
Taxes Paid |
-9.7 |
-15.5 |
-16.0 |
-7.8 |
-27.3 |
|
Newly Consolidated |
- |
- |
- |
- |
4.0 |
|
Cash from Operating Activities |
38.1 |
-67.3 |
91.2 |
202.0 |
12.3 |
|
|
|
|
|
|
|
|
Net decrease (increase) in short-term in |
- |
0.0 |
0.2 |
0.0 |
0.9 |
|
Purchase of property, plant and equipmen |
-187.6 |
-126.1 |
-77.4 |
-81.1 |
-123.3 |
|
Proceeds from sales of property, plant a |
4.2 |
5.4 |
5.1 |
9.8 |
12.8 |
|
Purch-Intang.Asset |
-10.2 |
-16.8 |
-5.3 |
-3.1 |
-4.8 |
|
Purchase of Long-Term Inv't in Sec. |
-18.4 |
-4.3 |
-3.9 |
-0.4 |
-3.9 |
|
Sale of Long-Term Investment in Sec. |
10.7 |
0.5 |
3.8 |
0.1 |
0.0 |
|
Purchase of Affiliates Securities |
- |
- |
- |
0.0 |
-2.6 |
|
Purch. of Affili. Sec., from minorities |
- |
- |
- |
0.0 |
-8.5 |
|
Disposal of businesses invested |
- |
- |
- |
0.0 |
0.2 |
|
D/I in In Post Retirement Pension Fund |
0.0 |
46.3 |
6.9 |
19.4 |
0.4 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Pension Fund Refund |
- |
- |
0.0 |
-1.5 |
0.0 |
|
Loan Extended |
- |
- |
- |
- |
-0.3 |
|
Loan Recovered |
- |
- |
0.0 |
0.1 |
4.3 |
|
Other, net |
-1.1 |
-1.2 |
0.1 |
-0.6 |
1.4 |
|
Cash from Investing Activities |
-202.4 |
-96.1 |
-70.5 |
-57.3 |
-123.3 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
109.0 |
223.9 |
94.7 |
-176.3 |
212.2 |
|
Proceeds from long-term loans payable |
406.6 |
157.5 |
15.4 |
233.2 |
157.1 |
|
Repayment of long-term loans payable |
-274.6 |
-123.8 |
-163.4 |
-88.4 |
-96.3 |
|
Purch-Treasury Stock |
- |
- |
- |
- |
-0.1 |
|
Lease Debt Repaid |
-14.9 |
-15.7 |
-19.1 |
-22.1 |
-23.9 |
|
Cash Dividends Paid |
-12.3 |
-12.9 |
-7.9 |
0.0 |
-6.8 |
|
Redemp-Corp.Bond |
0.0 |
-108.9 |
0.0 |
-68.1 |
0.0 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Div.Paid to Minority |
0.0 |
-0.6 |
-0.4 |
0.0 |
-1.3 |
|
Paid In by Minority |
- |
0.0 |
4.4 |
0.0 |
4.1 |
|
Other, net |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Cash from Financing Activities |
213.8 |
119.5 |
-76.4 |
-121.7 |
245.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
12.2 |
-2.7 |
-9.4 |
-1.9 |
-9.1 |
|
Net increase (decrease) in cash and cash |
61.7 |
-46.6 |
-65.0 |
21.0 |
124.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
178.9 |
234.6 |
281.2 |
238.3 |
95.5 |
|
Net Cash - Ending Balance |
240.6 |
188.0 |
216.2 |
259.3 |
220.4 |
|
Cash Interest Paid |
27.1 |
25.9 |
24.3 |
25.9 |
22.0 |
|
Cash Taxes Paid |
9.7 |
15.5 |
13.2 |
-5.0 |
27.3 |
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.62.39 |
|
UK Pound |
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.