MIRA
INFORM REPORT
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Report Date : |
24.10.2013 |
IDENTIFICATION DETAILS
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Name : |
LINTEC CORPORATION |
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Registered Office : |
23-23, Hon-cho Itabashi-Ku, 173-0001 |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
15.10.1934 |
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Legal Form : |
Public Parent |
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Line of Business : |
Manufacture and sale of adhesive and paper related products. |
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No. of Employees : |
4,270 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
In the years following World War II, government-industry
cooperation, a strong work ethic, mastery of high technology, and a
comparatively small defense allocation (1% of GDP) helped
Source
: CIA
Company name and address
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LINTEC
CORPORATION |
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Business Description
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LINTEC Corporation is a Japan-based company mainly involved in the manufacture
and sale of adhesive and paper related products. The Company operates in
three business segments. The Printing and Industrial Material-related segment
is engaged in the manufacture and sale of adhesive paper and adhesive film
for printing uses, label printing machinery, barcode printers, film used for
outdoor signages and advertisement, window film, automobile adhesive products
and industrial adhesive tape, among others. The Electronic and Optic-related
segment provides semiconductor-related adhesive products,
semiconductor-related machinery, coating film for laminated ceramic
capacitors and optical-related products. The Western Paper and Processing
Material-related segment manufactures and sells paper of colorful envelopes,
special functional paper, released paper, released film, as well as casting
paper for carbon fiber composite materials and synthetic leather. For the
three months ended 30 June 2013, LINTEC Corporation revenues increased 2% to
Y46.89B. Net income applicable to common stockholders increased 39% to
Y2.38B. Revenues reflect Paper processing segment increase of 8% to Y9.28B,
Electrical and Photology segment increase of 4% to Y17.47B. Net income
benefited from Electrical and Photology segment income increase from Y567M to
Y1.3B, Paper processing segment income increase of 12% to Y1.32B. |
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Significant Developments
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News
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Financial Summary
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Stock Snapshot
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Key IDSM Number: 90753
1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 82.97047
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 94.08855
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Corporate
Structure News
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Itabashi-Ku |
Japan |
Paint, Coating, and Adhesive Manufacturing |
2,300.1 |
4,270 |
|
|
Subsidiary |
Bogor, West Java |
Indonesia |
Rubber and Plastic Product Manufacturing |
49.0 |
311 |
|
|
Subsidiary |
Woburn, MA |
United States |
Rubber and Plastic Product Manufacturing |
|
100 |
|
|
Subsidiary |
St Petersburg, FL |
United States |
Metal Products Manufacturing |
|
120 |
|
|
Branch |
Huntington Beach, CA |
United States |
Motor Vehicle Wholesale |
8.7 |
4 |
|
|
Branch |
Dallas, TX |
United States |
Motor Vehicle Wholesale |
4.4 |
2 |
|
|
Branch |
St Petersburg, FL |
United States |
Motor Vehicle Repair and Maintenance |
0.2 |
2 |
|
|
Branch |
Kennesaw, GA |
United States |
Motor Vehicle Wholesale |
2.0 |
1 |
|
|
Branch |
Poolesville, MD |
United States |
Motor Vehicle Repair and Maintenance |
0.1 |
1 |
|
|
Subsidiary |
Tainan City |
Taiwan |
Machinery and Equipment Manufacturing |
|
95 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Wholesale |
99.6 |
80 |
|
|
Subsidiary |
Chungwon, Chungchongbuk-Do |
Korea, Republic of |
Paper Product Manufacturing |
24.8 |
68 |
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|
Subsidiary |
MĂ¼nchen, Bayern |
Germany |
Paper Product Manufacturing |
|
15 |
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|
Subsidiary |
Amstelveen, Noord-Holland |
Netherlands |
Machinery Wholesale |
12.1 |
7 |
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Subsidiary |
Suzhou, Jiangsu |
China |
Paper Product Manufacturing |
55.1 |
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Subsidiary |
Meguro-Ku, Tokyo |
Japan |
Chemical Wholesale |
43.6 |
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Competitors Report
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Executives Report
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News
Annual Income Statement
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|
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 |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
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Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with Explanation |
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Net Sales |
2,300.1 |
2,544.4 |
2,482.5 |
2,037.3 |
1,939.6 |
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Revenue |
2,300.1 |
2,544.4 |
2,482.5 |
2,037.3 |
1,939.6 |
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Total Revenue |
2,300.1 |
2,544.4 |
2,482.5 |
2,037.3 |
1,939.6 |
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Cost of Revenue |
1,813.1 |
2,010.3 |
1,916.0 |
1,632.2 |
1,581.1 |
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Cost of Revenue, Total |
1,813.1 |
2,010.3 |
1,916.0 |
1,632.2 |
1,581.1 |
|
Gross Profit |
487.1 |
534.0 |
566.5 |
405.1 |
358.5 |
|
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Selling/General/Administrative Expense |
177.9 |
185.5 |
172.9 |
144.7 |
149.0 |
|
Labor & Related Expense |
83.7 |
82.5 |
70.0 |
62.5 |
55.3 |
|
Total Selling/General/Administrative Expenses |
261.6 |
268.0 |
242.9 |
207.2 |
204.3 |
|
Research & Development |
87.5 |
77.9 |
70.2 |
66.0 |
62.5 |
|
Depreciation |
10.6 |
11.1 |
9.5 |
7.2 |
7.1 |
|
Depreciation/Amortization |
10.6 |
11.1 |
9.5 |
7.2 |
7.1 |
|
Impairment-Assets Held for Use |
6.4 |
5.6 |
7.5 |
5.1 |
7.7 |
|
Impairment-Assets Held for Sale |
0.0 |
2.1 |
0.5 |
0.1 |
1.0 |
|
Other Unusual Expense (Income) |
-0.5 |
-0.3 |
-0.7 |
1.8 |
0.0 |
|
Unusual Expense (Income) |
5.9 |
7.5 |
7.3 |
7.1 |
8.6 |
|
Other Operating Expense |
0.0 |
- |
- |
- |
- |
|
Other Operating Expenses, Total |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
2,178.7 |
2,374.8 |
2,246.0 |
1,919.8 |
1,863.6 |
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Operating Income |
121.4 |
169.5 |
236.5 |
117.5 |
76.0 |
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Interest Expense -
Non-Operating |
-0.7 |
-0.3 |
-0.2 |
-0.2 |
-0.9 |
|
Interest Expense, Net Non-Operating |
-0.7 |
-0.3 |
-0.2 |
-0.2 |
-0.9 |
|
Interest Income -
Non-Operating |
3.0 |
3.0 |
1.9 |
1.1 |
2.0 |
|
Investment Income -
Non-Operating |
9.3 |
-3.2 |
-10.8 |
3.6 |
-21.3 |
|
Interest/Investment Income - Non-Operating |
12.3 |
-0.2 |
-8.9 |
4.7 |
-19.4 |
|
Interest Income (Expense) - Net Non-Operating Total |
11.6 |
-0.5 |
-9.2 |
4.4 |
-20.3 |
|
Gain (Loss) on Sale of Assets |
0.1 |
-0.8 |
1.4 |
3.4 |
0.0 |
|
Other Non-Operating Income (Expense) |
-2.6 |
1.3 |
-0.4 |
-2.6 |
-3.8 |
|
Other, Net |
-2.6 |
1.3 |
-0.4 |
-2.6 |
-3.8 |
|
Income Before Tax |
130.6 |
169.5 |
228.4 |
122.7 |
52.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
38.1 |
59.2 |
68.5 |
43.4 |
18.2 |
|
Income After Tax |
92.5 |
110.2 |
159.9 |
79.3 |
33.8 |
|
|
|
|
|
|
|
|
Minority Interest |
0.1 |
-0.7 |
-0.9 |
-0.8 |
0.0 |
|
Net Income Before Extraord Items |
92.6 |
109.5 |
159.1 |
78.5 |
33.8 |
|
Net Income |
92.6 |
109.5 |
159.1 |
78.5 |
33.8 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
-0.1 |
-0.1 |
-0.1 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
-0.1 |
-0.1 |
-0.1 |
|
Income Available to Common Excl Extraord Items |
92.6 |
109.5 |
159.0 |
78.4 |
33.7 |
|
|
|
|
|
|
|
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Income Available to Common Incl Extraord Items |
92.6 |
109.5 |
159.0 |
78.4 |
33.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
74.7 |
75.0 |
75.6 |
75.6 |
75.6 |
|
Basic EPS Excl Extraord Items |
1.24 |
1.46 |
2.10 |
1.04 |
0.45 |
|
Basic/Primary EPS Incl Extraord Items |
1.24 |
1.46 |
2.10 |
1.04 |
0.45 |
|
Dilution Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
92.6 |
109.5 |
159.0 |
78.4 |
33.7 |
|
Diluted Weighted Average Shares |
74.8 |
75.1 |
75.6 |
75.6 |
75.6 |
|
Diluted EPS Excl Extraord Items |
1.24 |
1.46 |
2.10 |
1.04 |
0.45 |
|
Diluted EPS Incl Extraord Items |
1.24 |
1.46 |
2.10 |
1.04 |
0.45 |
|
Dividends per Share - Common Stock Primary Issue |
0.41 |
0.51 |
0.47 |
0.26 |
0.20 |
|
Gross Dividends - Common Stock |
30.6 |
37.8 |
35.3 |
19.5 |
15.0 |
|
Interest Expense, Supplemental |
0.7 |
0.3 |
0.2 |
0.2 |
0.9 |
|
Depreciation, Supplemental |
122.2 |
127.6 |
118.8 |
113.4 |
112.3 |
|
Total Special Items |
6.3 |
8.6 |
5.9 |
3.6 |
8.5 |
|
Normalized Income Before Tax |
136.9 |
178.1 |
234.3 |
126.4 |
60.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.7 |
2.9 |
1.8 |
1.3 |
3.0 |
|
Inc Tax Ex Impact of Sp Items |
39.8 |
62.1 |
70.3 |
44.8 |
21.2 |
|
Normalized Income After Tax |
97.1 |
116.0 |
164.1 |
81.6 |
39.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
97.2 |
115.3 |
163.1 |
80.7 |
39.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.30 |
1.54 |
2.16 |
1.07 |
0.52 |
|
Diluted Normalized EPS |
1.30 |
1.54 |
2.16 |
1.07 |
0.52 |
|
Amort of Acquisition Costs, Supplemental |
0.6 |
0.4 |
0.0 |
-0.1 |
-0.1 |
|
Research & Development Exp, Supplemental |
87.5 |
77.9 |
70.2 |
66.0 |
62.5 |
|
Reported Operating Profit |
127.3 |
177.0 |
243.8 |
124.6 |
84.6 |
|
Reported Ordinary Profit |
132.3 |
172.4 |
227.8 |
121.6 |
56.3 |
|
Normalized EBIT |
127.3 |
177.0 |
243.9 |
124.6 |
84.6 |
|
Normalized EBITDA |
250.1 |
305.0 |
362.6 |
237.9 |
196.8 |
|
Current Tax - Total |
41.2 |
46.7 |
- |
- |
- |
|
Current Tax - Total |
41.2 |
46.7 |
- |
- |
- |
|
Deferred Tax - Total |
-3.1 |
12.5 |
- |
- |
- |
|
Deferred Tax - Total |
-3.1 |
12.5 |
- |
- |
- |
|
Income Tax - Total |
38.1 |
59.2 |
- |
- |
- |
|
Interest Cost - Domestic |
8.0 |
8.4 |
7.6 |
6.8 |
6.2 |
|
Service Cost - Domestic |
15.2 |
16.1 |
13.9 |
12.7 |
12.5 |
|
Prior Service Cost - Domestic |
-2.9 |
-3.8 |
-3.5 |
-3.2 |
-3.0 |
|
Expected Return on Assets - Domestic |
-6.7 |
-6.9 |
-6.6 |
-4.9 |
-5.6 |
|
Actuarial Gains and Losses - Domestic |
6.5 |
6.8 |
5.1 |
6.3 |
2.9 |
|
Other Pension, Net - Domestic |
1.3 |
- |
- |
- |
- |
|
Domestic Pension Plan Expense |
21.3 |
20.5 |
16.5 |
17.7 |
13.1 |
|
Defined Contribution Expense - Domestic |
- |
- |
0.9 |
0.8 |
- |
|
Total Pension Expense |
21.3 |
20.5 |
17.4 |
18.5 |
13.1 |
|
Discount Rate - Domestic |
1.30% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
3.50% |
3.50% |
3.50% |
3.50% |
3.50% |
|
Total Plan Interest Cost |
8.0 |
8.4 |
7.6 |
6.8 |
6.2 |
|
Total Plan Service Cost |
15.2 |
16.1 |
13.9 |
12.7 |
12.5 |
|
Total Plan Expected Return |
-6.7 |
-6.9 |
-6.6 |
-4.9 |
-5.6 |
|
Total Plan Other Expense |
1.3 |
- |
- |
- |
- |
|
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 |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
474.1 |
496.5 |
451.3 |
294.0 |
164.7 |
|
Cash and Short Term Investments |
474.1 |
496.5 |
451.3 |
294.0 |
164.7 |
|
Accounts Receivable -
Trade, Gross |
656.7 |
786.1 |
761.4 |
685.9 |
483.4 |
|
Provision for Doubtful
Accounts |
-2.8 |
-3.0 |
-2.4 |
-2.4 |
-2.3 |
|
Trade Accounts Receivable - Net |
654.0 |
783.1 |
759.0 |
683.5 |
481.2 |
|
Total Receivables, Net |
654.0 |
783.1 |
759.0 |
683.5 |
481.2 |
|
Inventories - Finished Goods |
89.3 |
106.3 |
103.1 |
80.1 |
92.6 |
|
Inventories - Work In Progress |
120.0 |
128.0 |
126.0 |
106.3 |
105.9 |
|
Inventories - Raw Materials |
83.2 |
96.1 |
103.5 |
77.9 |
74.8 |
|
Total Inventory |
292.6 |
330.3 |
332.6 |
264.2 |
273.3 |
|
Deferred Income Tax - Current Asset |
24.5 |
26.6 |
29.8 |
23.6 |
19.5 |
|
Other Current Assets |
26.9 |
29.1 |
30.6 |
34.5 |
32.7 |
|
Other Current Assets, Total |
51.4 |
55.7 |
60.5 |
58.1 |
52.1 |
|
Total Current Assets |
1,472.1 |
1,665.7 |
1,603.4 |
1,299.8 |
971.3 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
689.9 |
755.9 |
746.7 |
677.8 |
678.4 |
|
Intangibles, Net |
32.4 |
28.5 |
25.0 |
14.3 |
3.9 |
|
LT Investment - Affiliate Companies |
15.2 |
6.9 |
10.8 |
- |
- |
|
LT Investments - Other |
- |
- |
23.2 |
28.2 |
23.3 |
|
Long Term Investments |
15.2 |
6.9 |
34.0 |
28.2 |
23.3 |
|
Deferred Income Tax - Long Term Asset |
53.6 |
59.4 |
65.5 |
58.9 |
58.8 |
|
Other Long Term Assets |
33.0 |
35.1 |
13.2 |
15.0 |
14.3 |
|
Other Long Term Assets, Total |
86.7 |
94.5 |
78.6 |
73.8 |
73.1 |
|
Total Assets |
2,296.2 |
2,551.4 |
2,487.7 |
2,093.8 |
1,750.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
458.3 |
553.6 |
537.0 |
471.7 |
298.8 |
|
Accrued Expenses |
0.5 |
0.4 |
1.1 |
0.7 |
0.2 |
|
Notes Payable/Short Term Debt |
15.2 |
16.0 |
17.1 |
14.7 |
34.7 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
0.6 |
0.6 |
- |
|
Income Taxes Payable |
20.5 |
14.8 |
42.9 |
38.0 |
2.7 |
|
Other Current Liabilities |
110.3 |
168.6 |
130.8 |
102.0 |
105.5 |
|
Other Current liabilities, Total |
130.8 |
183.4 |
173.7 |
140.1 |
108.2 |
|
Total Current Liabilities |
604.9 |
753.5 |
729.5 |
627.7 |
442.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
- |
0.0 |
0.6 |
1.1 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.6 |
1.1 |
|
Total Debt |
15.2 |
16.0 |
17.7 |
15.8 |
35.8 |
|
|
|
|
|
|
|
|
Minority Interest |
8.7 |
9.7 |
9.5 |
8.1 |
6.9 |
|
Reserves |
1.4 |
1.6 |
1.8 |
1.6 |
0.0 |
|
Pension Benefits - Underfunded |
150.2 |
168.9 |
166.5 |
150.2 |
145.8 |
|
Other Long Term Liabilities |
13.8 |
15.0 |
14.4 |
13.5 |
7.7 |
|
Other Liabilities, Total |
165.5 |
185.5 |
182.7 |
165.3 |
153.5 |
|
Total Liabilities |
779.1 |
948.6 |
921.8 |
801.7 |
603.4 |
|
|
|
|
|
|
|
|
Common Stock |
246.6 |
281.6 |
279.9 |
248.3 |
234.9 |
|
Common Stock |
246.6 |
281.6 |
279.9 |
248.3 |
234.9 |
|
Additional Paid-In Capital |
286.4 |
326.8 |
324.8 |
287.9 |
272.1 |
|
Retained Earnings (Accumulated Deficit) |
1,054.3 |
1,144.4 |
1,069.5 |
823.2 |
715.9 |
|
Treasury Stock - Common |
-29.2 |
-33.4 |
-12.5 |
-11.1 |
-10.4 |
|
Unrealized Gain (Loss) |
0.0 |
-0.5 |
-0.5 |
1.0 |
-0.9 |
|
Translation Adjustment |
-40.8 |
-116.1 |
-95.2 |
-57.1 |
-64.9 |
|
Other Equity |
0.0 |
0.0 |
- |
- |
- |
|
Other Equity, Total |
-40.8 |
-116.1 |
-95.2 |
-57.1 |
-64.9 |
|
Total Equity |
1,517.2 |
1,602.8 |
1,566.0 |
1,292.2 |
1,146.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,296.2 |
2,551.4 |
2,487.7 |
2,093.9 |
1,750.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
74.7 |
74.7 |
75.6 |
75.6 |
75.6 |
|
Total Common Shares Outstanding |
74.7 |
74.7 |
75.6 |
75.6 |
75.6 |
|
Treasury Shares - Common Stock Primary Issue |
1.9 |
1.9 |
1.0 |
1.0 |
1.0 |
|
Employees |
4,270 |
4,286 |
4,198 |
4,037 |
3,987 |
|
Number of Common Shareholders |
8,155 |
9,447 |
9,005 |
9,987 |
8,431 |
|
Total Long Term Debt, Supplemental |
0.0 |
0.0 |
0.6 |
1.2 |
1.6 |
|
Long Term Debt Maturing within 1 Year |
0.0 |
0.0 |
0.6 |
0.6 |
0.5 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
0.6 |
0.5 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
0.0 |
0.5 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
0.6 |
1.1 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
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 |
8.9 |
10.6 |
11.8 |
10.5 |
- |
|
Capital Lease Payments Due in Year 1 |
2.3 |
2.5 |
2.6 |
2.3 |
- |
|
Capital Lease Payments Due in Year 2 |
1.8 |
2.1 |
2.2 |
1.7 |
- |
|
Capital Lease Payments Due in Year 3 |
1.5 |
1.6 |
1.7 |
1.3 |
- |
|
Capital Lease Payments Due in Year 4 |
1.3 |
1.3 |
1.3 |
0.9 |
- |
|
Capital Lease Payments Due in Year 5 |
1.0 |
1.0 |
1.0 |
0.8 |
- |
|
Capital Lease Payments Due in 2-3 Years |
3.3 |
3.6 |
3.9 |
2.9 |
- |
|
Capital Lease Payments Due in 4-5 Years |
2.2 |
2.3 |
2.2 |
1.8 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
1.1 |
2.2 |
3.0 |
3.5 |
- |
|
Pension Obligation - Domestic |
389.7 |
393.2 |
386.0 |
334.2 |
309.7 |
|
Plan Assets - Domestic |
193.1 |
191.9 |
186.9 |
168.1 |
126.6 |
|
Funded Status - Domestic |
-196.6 |
-201.3 |
-199.0 |
-166.1 |
-183.0 |
|
Total Funded Status |
-196.6 |
-201.3 |
-199.0 |
-166.1 |
-183.0 |
|
Discount Rate - Domestic |
1.30% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
3.50% |
3.50% |
3.50% |
3.50% |
3.50% |
|
Prepaid Benefits - Domestic |
- |
0.5 |
0.4 |
- |
- |
|
Accrued Liabilities - Domestic |
-150.2 |
-168.9 |
-166.5 |
-150.2 |
-145.8 |
|
Other Assets, Net - Domestic |
46.4 |
33.0 |
32.9 |
15.9 |
37.3 |
|
Net Assets Recognized on Balance Sheet |
-103.9 |
-135.4 |
-133.2 |
-134.3 |
-108.5 |
|
Total Plan Obligations |
389.7 |
393.2 |
386.0 |
334.2 |
309.7 |
|
Total Plan Assets |
193.1 |
191.9 |
186.9 |
168.1 |
126.6 |
|
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 |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
130.6 |
169.5 |
228.3 |
122.6 |
51.9 |
|
Depreciation |
122.2 |
127.6 |
118.8 |
113.4 |
112.3 |
|
Depreciation/Depletion |
122.2 |
127.6 |
118.8 |
113.4 |
112.3 |
|
Amortization of Acquisition Costs |
0.6 |
0.4 |
0.0 |
-0.1 |
-0.1 |
|
Amortization |
0.6 |
0.4 |
0.0 |
-0.1 |
-0.1 |
|
Unusual Items |
5.1 |
7.7 |
6.0 |
2.5 |
9.0 |
|
Other Non-Cash Items |
-3.2 |
-2.2 |
-5.3 |
-3.1 |
-7.0 |
|
Non-Cash Items |
1.9 |
5.5 |
0.7 |
-0.6 |
2.0 |
|
Accounts Receivable |
48.7 |
-25.4 |
7.4 |
-173.9 |
205.2 |
|
Inventories |
10.3 |
0.7 |
-34.6 |
27.3 |
0.2 |
|
Accounts Payable |
-38.9 |
18.8 |
9.4 |
153.9 |
-199.9 |
|
Other Operating Cash Flow |
-38.9 |
-57.7 |
-58.0 |
-3.1 |
-42.4 |
|
Changes in Working Capital |
-18.9 |
-63.5 |
-75.8 |
4.2 |
-37.0 |
|
Cash from Operating Activities |
236.5 |
239.5 |
271.9 |
239.5 |
129.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-166.6 |
-110.9 |
-96.1 |
-83.7 |
-95.4 |
|
Purchase/Acquisition of Intangibles |
-9.5 |
-8.1 |
-5.9 |
-6.3 |
0.0 |
|
Capital Expenditures |
-176.1 |
-119.0 |
-102.1 |
-90.0 |
-95.4 |
|
Acquisition of Business |
- |
- |
-15.5 |
0.0 |
- |
|
Sale of Fixed Assets |
0.1 |
0.9 |
3.4 |
4.5 |
0.5 |
|
Sale/Maturity of Investment |
119.6 |
65.0 |
93.4 |
50.7 |
25.5 |
|
Purchase of Investments |
-111.0 |
-101.9 |
-95.8 |
-64.9 |
-27.5 |
|
Other Investing Cash Flow |
-0.9 |
-0.3 |
0.8 |
0.1 |
-0.2 |
|
Other Investing Cash Flow Items, Total |
7.8 |
-36.3 |
-13.8 |
-9.5 |
-1.7 |
|
Cash from Investing Activities |
-168.3 |
-155.3 |
-115.8 |
-99.6 |
-97.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.0 |
0.0 |
0.0 |
0.0 |
-0.6 |
|
Financing Cash Flow Items |
0.0 |
0.0 |
0.0 |
0.0 |
-0.6 |
|
Cash Dividends Paid - Common |
-33.3 |
-38.0 |
-29.9 |
-12.2 |
-20.3 |
|
Total Cash Dividends Paid |
-33.3 |
-38.0 |
-29.9 |
-12.2 |
-20.3 |
|
Repurchase/Retirement
of Common |
0.0 |
-21.8 |
0.0 |
0.0 |
0.0 |
|
Common Stock, Net |
0.0 |
-21.8 |
0.0 |
0.0 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
-21.8 |
0.0 |
0.0 |
0.0 |
|
Short Term Debt, Net |
1.3 |
-1.8 |
0.0 |
-22.4 |
0.7 |
|
Long Term Debt
Reduction |
-2.7 |
-2.9 |
-3.0 |
-2.6 |
-2.6 |
|
Long Term Debt, Net |
-2.7 |
-2.9 |
-3.0 |
-2.6 |
-2.6 |
|
Issuance (Retirement) of Debt, Net |
-1.4 |
-4.8 |
-3.0 |
-25.0 |
-1.9 |
|
Cash from Financing Activities |
-34.7 |
-64.6 |
-32.9 |
-37.2 |
-22.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
23.2 |
-8.9 |
-14.6 |
5.0 |
-28.6 |
|
Net Change in Cash |
56.7 |
10.7 |
108.6 |
107.8 |
-19.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
434.3 |
445.6 |
302.0 |
165.4 |
172.3 |
|
Net Cash - Ending Balance |
491.0 |
456.4 |
410.6 |
273.2 |
153.0 |
|
Cash Interest Paid |
0.7 |
0.3 |
0.2 |
0.3 |
0.9 |
|
Cash Taxes Paid |
33.5 |
75.4 |
72.1 |
-0.1 |
35.1 |
Annual Income Statement
|
|
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 |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with Explanation |
|
|
|
|
|
|
|
|
Net Sales |
2,300.1 |
2,544.4 |
2,482.5 |
2,037.3 |
1,939.6 |
|
Total Revenue |
2,300.1 |
2,544.4 |
2,482.5 |
2,037.3 |
1,939.6 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Total cost of sales |
1,813.1 |
2,010.3 |
1,916.0 |
1,632.2 |
1,581.1 |
|
Other Selling/General/Admin. Expense |
0.0 |
0.1 |
- |
- |
- |
|
Transportation And Warehousing Expenses |
58.0 |
60.3 |
58.7 |
49.0 |
48.1 |
|
Prov. Of Allowance For Doubtful Accounts |
1.0 |
2.0 |
1.3 |
0.6 |
0.4 |
|
Salaries And Allowances |
76.6 |
75.1 |
63.4 |
55.2 |
51.6 |
|
Provision For Retirement Benefits |
6.6 |
7.1 |
5.5 |
6.6 |
3.5 |
|
Provision for directors' bonuses |
0.6 |
0.4 |
1.1 |
0.7 |
0.2 |
|
Depreciation |
10.6 |
11.1 |
9.5 |
7.2 |
7.1 |
|
Research And Development Expenses |
87.5 |
77.9 |
70.2 |
66.0 |
62.5 |
|
Other SGA Expenses |
118.8 |
123.1 |
112.9 |
95.1 |
100.5 |
|
Subsidy |
-0.5 |
-0.3 |
-0.7 |
-1.2 |
0.0 |
|
Loss On Valuation Ofmembership Etc |
0.0 |
- |
- |
- |
- |
|
Loss on valuation of subsidiaries'' stoc |
0.0 |
0.4 |
- |
- |
- |
|
SP Revalue.-Invest. Sec |
0.0 |
1.6 |
0.5 |
0.0 |
1.0 |
|
SP Loss on valuation of subsidiary stock |
- |
- |
0.0 |
- |
0.0 |
|
SP Provision for res. for environmental |
- |
- |
0.0 |
1.6 |
0.0 |
|
SP Reversal loss-foreign currency trans. |
- |
- |
0.0 |
1.4 |
0.0 |
|
SP Loss on valuation of membership |
- |
0.1 |
0.0 |
0.1 |
0.0 |
|
Loss on retirement of noncurrent assets |
2.3 |
- |
- |
- |
- |
|
SP Impairment loss |
- |
- |
- |
0.0 |
3.4 |
|
NOP Write-off Fix. Asset |
4.2 |
5.6 |
7.5 |
5.1 |
4.3 |
|
Total Operating Expense |
2,178.7 |
2,374.8 |
2,246.0 |
1,919.8 |
1,863.6 |
|
|
|
|
|
|
|
|
SP Gain-Fixed Assets |
- |
0.0 |
0.5 |
3.0 |
0.0 |
|
Loss On Liquidation Of Subsidiaries |
0.0 |
-1.1 |
- |
- |
- |
|
SP Gain-Invest. Sec. |
- |
- |
- |
- |
0.0 |
|
SP Loss-Fixed Assets |
- |
0.0 |
-0.2 |
0.0 |
- |
|
SP Loss-liquidation of subsidiaries |
- |
- |
0.0 |
- |
- |
|
NOP Interest Income |
3.0 |
3.0 |
1.9 |
1.1 |
2.0 |
|
NOP Dividend Income |
2.7 |
0.7 |
0.8 |
0.8 |
0.8 |
|
Other Non-Operating Income (Expense) |
0.0 |
0.0 |
- |
- |
- |
|
NOP Rental income |
0.6 |
0.7 |
0.8 |
0.6 |
0.5 |
|
NOP Gain-Fixed Assets |
0.1 |
0.3 |
1.1 |
0.3 |
- |
|
NOP Exchange Gain |
6.5 |
- |
0.0 |
2.8 |
0.0 |
|
NOP Receipt of Copensation |
- |
- |
- |
- |
0.0 |
|
Miscellaneous income |
2.7 |
3.3 |
3.2 |
2.9 |
4.2 |
|
NOP Interest Expense |
-0.7 |
-0.3 |
-0.2 |
-0.2 |
-0.9 |
|
NOP Claim Compensation Expense |
-4.1 |
-1.1 |
-1.4 |
-4.7 |
-5.6 |
|
NOP Exchange Loss |
0.0 |
-3.8 |
-11.6 |
0.0 |
-22.1 |
|
NOP L on disp.inventories |
- |
- |
- |
- |
0.0 |
|
Miscellaneous loss |
-1.7 |
-1.6 |
-2.9 |
-1.4 |
-2.9 |
|
Net Income Before Taxes |
130.6 |
169.5 |
228.4 |
122.7 |
52.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
38.1 |
59.2 |
68.5 |
43.4 |
18.2 |
|
Net Income After Taxes |
92.5 |
110.2 |
159.9 |
79.3 |
33.8 |
|
|
|
|
|
|
|
|
Minority interests in income |
0.1 |
-0.7 |
-0.9 |
-0.8 |
0.0 |
|
Net Income Before Extra. Items |
92.6 |
109.5 |
159.1 |
78.5 |
33.8 |
|
Net Income |
92.6 |
109.5 |
159.1 |
78.5 |
33.8 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Income Statement |
- |
0.0 |
- |
- |
- |
|
EPS Adjustment |
- |
- |
-0.1 |
-0.1 |
-0.1 |
|
Income Available to Com Excl ExtraOrd |
92.6 |
109.5 |
159.0 |
78.4 |
33.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
92.6 |
109.5 |
159.0 |
78.4 |
33.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
74.7 |
75.0 |
75.6 |
75.6 |
75.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.24 |
1.46 |
2.10 |
1.04 |
0.45 |
|
Basic EPS Including ExtraOrdinary Items |
1.24 |
1.46 |
2.10 |
1.04 |
0.45 |
|
Dilution Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
92.6 |
109.5 |
159.0 |
78.4 |
33.7 |
|
Diluted Weighted Average Shares |
74.8 |
75.1 |
75.6 |
75.6 |
75.6 |
|
Diluted EPS Excluding ExtraOrd Items |
1.24 |
1.46 |
2.10 |
1.04 |
0.45 |
|
Diluted EPS Including ExtraOrd Items |
1.24 |
1.46 |
2.10 |
1.04 |
0.45 |
|
DPS-Ordinary Shares |
0.41 |
0.51 |
0.47 |
0.26 |
0.20 |
|
Gross Dividends - Common Stock |
30.6 |
37.8 |
35.3 |
19.5 |
15.0 |
|
Normalized Income Before Taxes |
136.9 |
178.1 |
234.3 |
126.4 |
60.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
39.8 |
62.1 |
70.3 |
44.8 |
21.2 |
|
Normalized Income After Taxes |
97.1 |
116.0 |
164.1 |
81.6 |
39.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
97.2 |
115.3 |
163.1 |
80.7 |
39.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.30 |
1.54 |
2.16 |
1.07 |
0.52 |
|
Diluted Normalized EPS |
1.30 |
1.54 |
2.16 |
1.07 |
0.52 |
|
Research And Development Expenses |
87.5 |
77.9 |
70.2 |
66.0 |
62.5 |
|
Interest Expense |
0.7 |
0.3 |
0.2 |
0.2 |
0.9 |
|
BC - Depreciation of Goodwill |
0.6 |
- |
- |
- |
- |
|
Amortization of Goodwill - footnote |
- |
0.5 |
- |
- |
- |
|
Amort of negative goodwill |
- |
-0.1 |
- |
- |
- |
|
Amort of Goodwill |
- |
- |
0.1 |
0.0 |
- |
|
Amort of Negative Goodwill |
- |
- |
-0.1 |
-0.1 |
-0.1 |
|
BC - Depreciation of Fixed Assets |
122.2 |
- |
- |
- |
- |
|
Depreciation |
- |
127.6 |
- |
- |
- |
|
Depreciation |
- |
- |
118.8 |
113.4 |
112.3 |
|
Income taxes-current |
41.2 |
46.7 |
- |
- |
- |
|
Current Tax - Total |
41.2 |
46.7 |
- |
- |
- |
|
Income taxes-deferred |
-3.1 |
12.5 |
- |
- |
- |
|
Deferred Tax - Total |
-3.1 |
12.5 |
- |
- |
- |
|
Income Tax - Total |
38.1 |
59.2 |
- |
- |
- |
|
Reported Operating Profit |
127.3 |
177.0 |
243.8 |
124.6 |
84.6 |
|
Reported Ordinary Profit |
132.3 |
172.4 |
227.8 |
121.6 |
56.3 |
|
Service Cost |
15.2 |
16.1 |
13.9 |
12.7 |
12.5 |
|
Interest Cost |
8.0 |
8.4 |
7.6 |
6.8 |
6.2 |
|
Expected Return on Plan Assets |
-6.7 |
-6.9 |
-6.6 |
-4.9 |
-5.6 |
|
Actuarial Gains & Losses |
6.5 |
6.8 |
5.1 |
6.3 |
2.9 |
|
Prior Service Cost |
-2.9 |
-3.8 |
-3.5 |
-3.2 |
-3.0 |
|
Retirement Benefit Expenses Other |
1.3 |
- |
- |
- |
- |
|
Domestic Pension Plan Expense |
21.3 |
20.5 |
16.5 |
17.7 |
13.1 |
|
Defined Contribution Expense - Domestic |
- |
- |
0.9 |
0.8 |
- |
|
Total Pension Expense |
21.3 |
20.5 |
17.4 |
18.5 |
13.1 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.30% |
2.00% |
- |
- |
- |
|
Discount Rate |
- |
- |
2.00% |
2.00% |
2.00% |
|
Expected return on assets(MIN)-Retiremen |
3.50% |
3.50% |
- |
- |
- |
|
Expected Rate of Return |
- |
- |
3.50% |
3.50% |
3.50% |
|
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 |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with Explanation |
|
|
|
|
|
|
|
|
Cash and Deposit |
474.1 |
496.5 |
451.3 |
294.0 |
164.7 |
|
Notes and accounts receivable-trade |
656.7 |
786.1 |
761.4 |
685.9 |
483.4 |
|
Finished Goods and Merchandise |
89.3 |
106.3 |
- |
- |
- |
|
Inventories-merchandise & finished goods |
- |
- |
103.1 |
80.1 |
92.6 |
|
Work in Process |
120.0 |
128.0 |
- |
- |
- |
|
Inventories - work-in-process |
- |
- |
126.0 |
106.3 |
105.9 |
|
Raw Materials and Supplies |
83.2 |
96.1 |
- |
- |
- |
|
Inventories - raw materials & supplies |
- |
- |
103.5 |
77.9 |
74.8 |
|
Deferred Tax |
24.5 |
26.6 |
29.8 |
23.6 |
19.5 |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Curr.Asset |
26.9 |
29.1 |
30.6 |
34.5 |
32.7 |
|
Allowance-Doubt. |
-2.8 |
-3.0 |
-2.4 |
-2.4 |
-2.3 |
|
Total Current Assets |
1,472.1 |
1,665.7 |
1,603.4 |
1,299.8 |
971.3 |
|
|
|
|
|
|
|
|
Other Total PPE, Net |
0.0 |
0.0 |
- |
- |
- |
|
Buildings and structures, net |
290.9 |
305.4 |
295.9 |
264.9 |
241.8 |
|
Machinery, equipment and vehicles, net |
259.4 |
283.4 |
303.0 |
290.9 |
307.4 |
|
Land |
110.3 |
112.1 |
105.1 |
92.9 |
87.6 |
|
Constru. in Prog |
10.9 |
33.0 |
17.4 |
5.1 |
17.5 |
|
Other |
18.4 |
22.0 |
25.3 |
24.0 |
24.1 |
|
Intangible assets |
32.4 |
28.5 |
25.0 |
14.3 |
3.9 |
|
Other LT Investments (Held for Sale / He |
20.7 |
21.9 |
- |
- |
- |
|
Investment Sec. |
- |
- |
23.2 |
28.2 |
23.3 |
|
Invt Secs Noncons, Asc, Affd Cos |
15.2 |
6.9 |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
- |
0.0 |
- |
- |
- |
|
Investment Sec.-Noncon. sub.&affi. |
- |
- |
7.3 |
- |
- |
|
Investment in closely-held capital |
- |
- |
3.5 |
- |
- |
|
Deferred tax assets |
53.6 |
59.4 |
65.5 |
58.9 |
58.8 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Long Term Assets |
- |
0.0 |
- |
- |
- |
|
Other long-term Assets |
14.2 |
15.2 |
15.5 |
16.8 |
16.0 |
|
Allowance-Doubt. |
-1.8 |
-2.1 |
-2.4 |
-1.8 |
-1.6 |
|
Total Assets |
2,296.2 |
2,551.4 |
2,487.7 |
2,093.8 |
1,750.0 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
458.3 |
553.6 |
537.0 |
471.7 |
298.8 |
|
Short-term loans payable |
15.2 |
16.0 |
- |
- |
- |
|
ST Borrowings |
- |
- |
17.1 |
14.7 |
34.7 |
|
LT borrowings (current) |
- |
- |
0.6 |
0.6 |
- |
|
Tax Payable |
20.5 |
14.8 |
42.9 |
38.0 |
2.7 |
|
Rounding adjustment Liability |
0.0 |
0.0 |
- |
- |
- |
|
Reserve for order losses |
- |
- |
- |
0.0 |
0.4 |
|
Provision for directors'' bonuses |
0.5 |
0.4 |
1.1 |
0.7 |
0.2 |
|
Other Curr.Liabs |
110.3 |
168.6 |
130.8 |
102.0 |
105.1 |
|
Total Current Liabilities |
604.9 |
753.5 |
729.5 |
627.7 |
442.0 |
|
|
|
|
|
|
|
|
LT Borrowings |
- |
- |
0.0 |
0.6 |
1.1 |
|
Total Long Term Debt |
- |
- |
0.0 |
0.6 |
1.1 |
|
|
|
|
|
|
|
|
Accr. Retirement |
150.2 |
168.9 |
166.5 |
150.2 |
145.8 |
|
Reserve for environmental measures |
1.4 |
1.6 |
1.8 |
1.6 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
- |
- |
- |
|
Other LT Liab. |
13.8 |
15.0 |
14.4 |
13.5 |
7.7 |
|
Minor. Interest |
8.7 |
9.7 |
9.5 |
8.1 |
6.9 |
|
Total Liabilities |
779.1 |
948.6 |
921.8 |
801.7 |
603.4 |
|
|
|
|
|
|
|
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Equity |
- |
0.0 |
- |
- |
- |
|
Common Stock |
246.6 |
281.6 |
279.9 |
248.3 |
234.9 |
|
Total capital surpluses |
285.2 |
325.7 |
323.7 |
287.1 |
271.6 |
|
Total retained earnings |
1,054.3 |
1,144.4 |
1,069.5 |
823.2 |
715.9 |
|
Treas. Stock |
-29.2 |
-33.4 |
-12.5 |
-11.1 |
-10.4 |
|
Valuation difference on available-for-sa |
2.3 |
1.4 |
1.2 |
1.0 |
-0.9 |
|
Translation Adj. |
-40.8 |
-116.1 |
-95.2 |
-57.1 |
-64.9 |
|
Pension liability adjustment |
-2.3 |
-1.9 |
-1.7 |
0.0 |
- |
|
Stock Subscription |
1.2 |
1.1 |
1.1 |
0.7 |
0.4 |
|
Total Equity |
1,517.2 |
1,602.8 |
1,566.0 |
1,292.2 |
1,146.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,296.2 |
2,551.4 |
2,487.7 |
2,093.9 |
1,750.0 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
74.7 |
74.7 |
75.6 |
75.6 |
75.6 |
|
Total Common Shares Outstanding |
74.7 |
74.7 |
75.6 |
75.6 |
75.6 |
|
T/S-Ordinary Shares |
1.9 |
1.9 |
1.0 |
1.0 |
1.0 |
|
Full-Time Employees |
4,270 |
4,286 |
4,198 |
4,037 |
3,987 |
|
Total Number of Shareholders |
8,155 |
9,447 |
- |
- |
- |
|
Number of Common Shareholders |
- |
- |
9,005 |
9,987 |
8,431 |
|
Long Term Debt Maturing Within 1 Year |
0.0 |
0.0 |
0.6 |
0.6 |
0.5 |
|
Long Term Debt Maturing Within 2 Year |
- |
- |
- |
0.6 |
0.5 |
|
Long Term Debt Maturing Within 3 Year |
- |
- |
- |
0.0 |
0.5 |
|
Long Term Debt Maturing Within 4 Year |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing Within 5 Year |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing Within 6 Year |
- |
- |
- |
- |
0.0 |
|
Total Long Term Debt, Supplemental |
0.0 |
0.0 |
0.6 |
1.2 |
1.6 |
|
Capital Lease Payments Due within 1 Year |
2.3 |
2.5 |
2.6 |
2.3 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
1.8 |
2.1 |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
- |
- |
2.2 |
1.7 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
1.5 |
1.6 |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
- |
- |
1.7 |
1.3 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
1.3 |
1.3 |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
- |
1.3 |
0.9 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
1.0 |
1.0 |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
- |
1.0 |
0.8 |
- |
|
Remaining |
1.1 |
- |
- |
- |
- |
|
Capital Lease Remaining |
- |
2.2 |
- |
- |
- |
|
Capital Leases - Remaining Maturities |
- |
- |
3.0 |
3.5 |
- |
|
Total Capital Leases, Supplemental |
8.9 |
10.6 |
11.8 |
10.5 |
- |
|
Pension Obligation |
389.7 |
393.2 |
386.0 |
334.2 |
309.7 |
|
Fair Value of Plan Assets |
193.1 |
191.9 |
186.9 |
168.1 |
126.6 |
|
Funded Status |
-196.6 |
-201.3 |
-199.0 |
-166.1 |
-183.0 |
|
Total Funded Status |
-196.6 |
-201.3 |
-199.0 |
-166.1 |
-183.0 |
|
Discount Rate |
1.30% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Return on Plan Assets |
3.50% |
3.50% |
3.50% |
3.50% |
3.50% |
|
Unrecognized Actuarial Gains & Losses |
64.2 |
56.8 |
63.2 |
46.0 |
68.8 |
|
Unrecognized Prior Service Cost |
-17.9 |
-23.9 |
-30.3 |
-30.1 |
-31.5 |
|
Prepaid Pension Benefits |
- |
0.5 |
0.4 |
- |
- |
|
Accrued Retirement Benefits |
-150.2 |
-168.9 |
- |
- |
- |
|
Accrued Pension Benefits |
0.0 |
- |
-166.5 |
-150.2 |
-145.8 |
|
Net Assets Recognized on Balance Sheet |
-103.9 |
-135.4 |
-133.2 |
-134.3 |
-108.5 |
|
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 |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with Explanation |
|
|
|
|
|
|
|
|
Income Before Tax |
130.6 |
169.5 |
228.3 |
122.6 |
51.9 |
|
Depreciation |
122.2 |
127.6 |
118.8 |
113.4 |
112.3 |
|
Loss (gain) on liquidation of subsidiari |
0.0 |
1.1 |
- |
- |
- |
|
L on valuation of Subsidiaries stock |
0.0 |
0.4 |
- |
- |
- |
|
Amortization of goodwill |
0.7 |
0.5 |
0.1 |
0.0 |
0.0 |
|
Amortization of negative goodwill |
-0.1 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
Increase (decrease) in provision for ret |
1.9 |
0.9 |
-3.0 |
-3.1 |
-6.9 |
|
Increase (decrease) in allowance for dou |
0.0 |
0.4 |
0.2 |
0.1 |
1.8 |
|
Int.&Div. Income |
-5.8 |
-3.6 |
-2.6 |
-1.9 |
-2.8 |
|
Interest Expense |
0.7 |
0.3 |
0.2 |
0.2 |
0.9 |
|
Loss (gain) on sales of property, plant |
-0.1 |
-0.1 |
-0.3 |
-3.1 |
1.1 |
|
Loss on retirement of property, plant an |
5.2 |
4.6 |
5.8 |
4.0 |
3.6 |
|
Impairment Loss on Assets |
- |
- |
- |
0.0 |
3.4 |
|
Decrease (increase) in notes and account |
48.7 |
-25.4 |
7.4 |
-173.9 |
205.2 |
|
Decrease (increase) in inventories |
10.3 |
0.7 |
-34.6 |
27.3 |
0.2 |
|
Increase (decrease) in notes and account |
-38.9 |
18.8 |
9.4 |
153.9 |
-199.9 |
|
Sale Gain-Investment Security |
0.0 |
- |
0.0 |
-0.1 |
0.0 |
|
Loss (gain) on valuation of investment s |
0.0 |
1.6 |
0.5 |
0.0 |
1.0 |
|
Revalue.-Membership |
0.0 |
0.1 |
0.0 |
0.1 |
0.0 |
|
Reversal loss on foreign curr. trans. |
- |
- |
0.0 |
1.4 |
0.0 |
|
Increase (decrease) in provision for env |
0.0 |
-0.2 |
0.0 |
1.6 |
0.0 |
|
Revalue. of Affiliated Comp.'s secs. |
- |
- |
- |
- |
0.0 |
|
Gain Liquidation Sub. |
- |
- |
0.0 |
- |
- |
|
Revalue. of sub.'s secs. |
- |
- |
0.0 |
- |
- |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Other Operating Cash Flow |
- |
0.0 |
- |
- |
- |
|
Other, net |
-10.7 |
14.7 |
11.8 |
-4.9 |
-9.1 |
|
Int.&Div. Received |
6.0 |
3.3 |
2.6 |
1.9 |
2.8 |
|
Interest Paid |
-0.7 |
-0.3 |
-0.2 |
-0.3 |
-0.9 |
|
Income taxes (paid) refund |
-33.5 |
-75.4 |
-72.1 |
0.1 |
-35.1 |
|
Increased Subs. |
- |
- |
- |
- |
0.0 |
|
Adjustment |
- |
- |
-0.1 |
- |
- |
|
Cash from Operating Activities |
236.5 |
239.5 |
271.9 |
239.5 |
129.1 |
|
|
|
|
|
|
|
|
Purchase of investments in capital of su |
-1.0 |
- |
- |
- |
- |
|
Time Deposit Made |
-99.9 |
-101.2 |
-95.5 |
-63.1 |
-26.0 |
|
Time Deposit Collected |
119.5 |
65.0 |
93.4 |
50.5 |
25.5 |
|
Purch.-Market. Sec. |
- |
- |
- |
- |
0.0 |
|
Sale-Market. Sec. |
- |
- |
- |
- |
0.0 |
|
Purchase of property, plant and equipmen |
-166.6 |
-110.9 |
-96.1 |
-83.7 |
-95.4 |
|
Proceeds from sales of property, plant a |
0.1 |
0.9 |
3.4 |
4.5 |
0.5 |
|
Purchase of intangible assets |
-9.5 |
-8.1 |
-5.9 |
-6.3 |
0.0 |
|
Purch.-Invest. Sec. |
0.0 |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
Sale-Invest. Sec. |
0.0 |
- |
0.0 |
0.2 |
0.0 |
|
Purch. of sub.'s secs. |
-9.3 |
- |
0.0 |
-0.3 |
-0.1 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Loans Made |
-0.8 |
-0.7 |
-0.2 |
-1.4 |
-1.4 |
|
Loans Collected |
1.9 |
0.5 |
0.8 |
0.1 |
0.6 |
|
Purch. of sub.'s secs.-Consol. |
- |
- |
-15.5 |
0.0 |
- |
|
Other, net |
-2.8 |
-0.8 |
0.0 |
0.0 |
-0.8 |
|
Cash from Investing Activities |
-168.3 |
-155.3 |
-115.8 |
-99.6 |
-97.0 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
1.3 |
-1.8 |
0.0 |
-22.4 |
0.7 |
|
Other, net(1) |
0.0 |
0.0 |
- |
- |
- |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Dividends Paid |
-33.3 |
-38.0 |
-29.9 |
-12.2 |
-20.3 |
|
Purch-Treasury Stock |
0.0 |
-21.8 |
0.0 |
0.0 |
0.0 |
|
Repay. of lease obliagtion |
-2.7 |
-2.9 |
-3.0 |
-2.6 |
-2.6 |
|
Other, net |
- |
- |
0.0 |
0.0 |
-0.6 |
|
Cash from Financing Activities |
-34.7 |
-64.6 |
-32.9 |
-37.2 |
-22.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
23.2 |
-8.9 |
-14.6 |
5.0 |
-28.6 |
|
Net increase (decrease) in cash and cash |
56.7 |
10.7 |
108.6 |
107.8 |
-19.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
434.3 |
445.6 |
302.0 |
165.4 |
172.3 |
|
Net Cash - Ending Balance |
491.0 |
456.4 |
410.6 |
273.2 |
153.0 |
|
Cash Interest Paid |
0.7 |
0.3 |
0.2 |
0.3 |
0.9 |
|
Income taxes (paid) refund |
33.5 |
75.4 |
72.1 |
-0.1 |
35.1 |
Financial Health
|
|
|
|
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Annual Ratios
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.53 |
|
UK Pound |
1 |
Rs.99.75 |
|
Euro |
1 |
Rs.84.75 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.