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Report Date : |
25.10.2013 |
IDENTIFICATION DETAILS
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Name : |
IBIDEN CO., LTD. |
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Registered Office : |
2-1, Kanda-cho Ogaki-Shi, 503-8604 |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
25.11.1912 |
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Legal Form : |
Public Parent |
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Line of Business : |
Subject is engaged in the manufacture of electronic products. |
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No. of Employees : |
11,879 |
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 |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
In the years following World War II, government-industry
cooperation, a strong work ethic, mastery of high technology, and a
comparatively small defense allocation (1% of GDP) helped
Source
: CIA
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IBIDEN CO., LTD. |
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IBIDEN CO., LTD. is primarily engaged in the manufacture of electronic products. It operates in five business segments. The Electronics segment is engaged in the manufacture and sale of printed circuit boards (PCBs) and package substrates, as well as the design of PCB patterns. The Ceramics segment offers environment related ceramic products, special carbon products, fine ceramic products and ceramic fibers. The Construction Material segment provides housing equipment, melamine facing plates and decorative laminated sheets processing materials. The Construction Material segment is engaged in the design and construction of slopes, garden landscape and various facilities. The Others segment is involved in other business activities, including synthetic plastic processing, agricultural seafood processing, information service business, automobile transportation, oil marketing, investment, and financing. For the three months ended 30 June 2013, IBIDEN CO., LTD. revenues increased 3% to Y71.69B. Net income applicable to common stockholders totaled Y3.39B vs. loss of Y106M. Revenues reflect Ceramics segment increase of 40% to Y24.48B, Building Materials segment increase of 52% to Y6.07B, Other segment increase of 7% to Y4.84B. Net Income reflects Ceramics segment income increase of 87% to Y2.4B. |
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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: |
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1 - Profit & Loss
Item Exchange Rate: USD 1 = JPY 82.97047
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 94.08855
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Ogaki-Shi |
Japan |
Semiconductor and Other Electronic Component Manufacturing |
3,446.4 |
11,879 |
|
|
Subsidiary |
Dunavarsány |
Hungary |
Motor Vehicle Parts Manufacturing |
291.7 |
1,511 |
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Electronics Wholesale |
|
350 |
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Miscellaneous Professional Services |
|
280 |
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Specialty Construction Trade Contractors |
|
250 |
|
|
Subsidiary |
Chiba, Aichi |
Japan |
Semiconductor and Other Electronic Component Manufacturing |
|
146 |
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Construction and Hardware Materials Wholesale |
|
60 |
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Architecture and Engineering |
|
52 |
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Chemical Wholesale |
|
50 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Electronics Wholesale |
|
20 |
|
|
Subsidiary |
Singapore |
Singapore |
Semiconductor and Other Electronic Component Manufacturing |
|
8 |
|
|
Subsidiary |
Perai, Pulau Pinang |
Malaysia |
Metal Products Manufacturing |
2.6 |
420 |
|
|
Subsidiary |
Hoofddorp |
Netherlands |
Construction and Hardware Materials Wholesale |
|
7 |
|
|
Subsidiary |
Hoofddorp |
Netherlands |
Holding Companies |
52.9 |
6 |
|
|
Subsidiary |
Frauental an der Lassnitz |
Austria |
Non-Metallic Mineral Product Manufacturing |
|
352 |
|
|
Subsidiary |
Overland Park, KS |
United States |
Non-Metallic Mineral Product Manufacturing |
|
7 |
|
|
Subsidiary |
Orleans |
France |
Non-Metallic Mineral Product Manufacturing |
92.7 |
149 |
|
|
Subsidiary |
Frauental an der Lassnitz |
Austria |
Non-Metallic Mineral Product Manufacturing |
|
50 |
|
|
Subsidiary |
Kowloon |
Hong Kong |
Chemical Wholesale |
|
5 |
|
|
Subsidiary |
Kaohsiung |
Taiwan |
Electronics Wholesale |
|
5 |
|
|
Subsidiary |
London |
United Kingdom |
Motor Vehicle and Parts Dealers |
32.5 |
4 |
|
|
Subsidiary |
Markham, ON |
Canada |
Electronics Wholesale |
|
3 |
|
|
Subsidiary |
Santo Tomas |
Philippines |
Computer, Office Equipment and Software Merchant Wholesalers |
204.1 |
|
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Architecture and Engineering |
71.6 |
|
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Miscellaneous Manufacturing |
52.7 |
|
|
|
Subsidiary |
Paris |
France |
Construction and Hardware Materials Wholesale |
|
|
|
|
Subsidiary |
Beijing |
China |
Semiconductor and Other Electronic Component Manufacturing |
|
|
|
|
Subsidiary |
Gifu, Ogaki |
Japan |
Specialty Construction Trade Contractors |
|
|
|
|
Subsidiary |
Torrance, CA |
United States |
Consulting Services |
|
|
|
|
Subsidiary |
Stuttgart |
Germany |
Construction and Hardware Materials Wholesale |
|
|
|
|
Subsidiary |
Sunnyvale, CA |
United States |
Electronics Wholesale |
|
|
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Computer System Design Services |
|
|
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Miscellaneous Professional Services |
|
|
|
|
Subsidiary |
Shanghai |
China |
Miscellaneous Professional Services |
|
|
|
|
Facility |
Gifu |
Japan |
Non-Metallic Mineral Product Manufacturing |
|
|
|
|
Facility |
Takahama, Aichi |
Japan |
Electrical Equipment and Appliances Manufacturing |
|
|
|
|
Subsidiary |
Shanghai |
China |
Semiconductor and Other Electronic Component Manufacturing |
|
|
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Synthetic Chemical Manufacturing |
|
|
|
|
Facility |
Gifu |
Japan |
Semiconductor and Other Electronic Component Manufacturing |
|
|
|
|
Subsidiary |
Rolling Meadows, IL |
United States |
Holding Companies |
|
|
|
|
Subsidiary |
Rolling Meadows, IL |
United States |
Semiconductor and Other Electronic Component Manufacturing |
|
|
|
|
Subsidiary |
Penang |
Malaysia |
Computer, Office Equipment and Software Merchant Wholesalers |
|
|
|
|
Subsidiary |
Batangas |
Philippines |
Semiconductor and Other Electronic Component Manufacturing |
|
|
|
|
Facility |
Ogaki, Gifu |
Japan |
Semiconductor and Other Electronic Component Manufacturing |
|
|
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Computer, Office Equipment and Software Merchant Wholesalers |
|
|
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Electrical Equipment and Appliances Manufacturing |
|
|
|
|
Facility |
Ogaki, Gifu |
Japan |
Semiconductor and Other Electronic Component Manufacturing |
|
|
|
|
Facility |
Ogaki, Gifu |
Japan |
Semiconductor and Other Electronic Component Manufacturing |
|
|
|
|
Facility |
Ogaki, Gifu |
Japan |
Electrical Equipment and Appliances Manufacturing |
|
|
|
|
Subsidiary |
Ogaki, Gifu |
Japan |
Food Manufacturing |
|
|
|
|
Subsidiary |
Shanghai |
China |
Semiconductor and Other Electronic Component Manufacturing |
|
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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 |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
3,446.4 |
3,810.3 |
3,558.9 |
2,950.3 |
3,078.1 |
|
Revenue |
3,446.4 |
3,810.3 |
3,558.9 |
2,950.3 |
3,078.1 |
|
Total Revenue |
3,446.4 |
3,810.3 |
3,558.9 |
2,950.3 |
3,078.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
2,822.7 |
2,987.1 |
2,594.9 |
2,243.9 |
2,481.4 |
|
Cost of Revenue, Total |
2,822.7 |
2,987.1 |
2,594.9 |
2,243.9 |
2,481.4 |
|
Gross Profit |
623.6 |
823.1 |
964.0 |
706.4 |
596.7 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
248.6 |
293.9 |
269.6 |
177.2 |
212.5 |
|
Labor & Related Expense |
127.4 |
128.6 |
130.0 |
133.5 |
137.0 |
|
Total Selling/General/Administrative Expenses |
376.0 |
422.4 |
399.6 |
310.7 |
349.6 |
|
Research & Development |
182.3 |
204.2 |
169.8 |
136.4 |
115.0 |
|
Depreciation |
20.3 |
- |
10.5 |
64.0 |
42.6 |
|
Amortization of Acquisition Costs |
- |
0.0 |
-0.9 |
4.6 |
4.2 |
|
Depreciation/Amortization |
20.3 |
0.0 |
9.6 |
68.6 |
46.8 |
|
Impairment-Assets Held for Use |
7.9 |
18.0 |
33.7 |
56.0 |
8.5 |
|
Impairment-Assets Held for Sale |
0.0 |
0.2 |
6.6 |
0.1 |
37.5 |
|
Other Unusual Expense (Income) |
35.7 |
-4.4 |
-2.6 |
-3.9 |
-0.9 |
|
Unusual Expense (Income) |
43.6 |
13.8 |
37.7 |
52.1 |
45.2 |
|
Total Operating Expense |
3,444.9 |
3,627.5 |
3,211.6 |
2,811.7 |
3,038.0 |
|
|
|
|
|
|
|
|
Operating Income |
1.4 |
182.7 |
347.4 |
138.6 |
40.1 |
|
|
|
|
|
|
|
|
Interest Expense - Non-Operating |
-4.3 |
-6.1 |
-3.2 |
-6.7 |
-3.8 |
|
Interest Expense, Net Non-Operating |
-4.3 |
-6.1 |
-3.2 |
-6.7 |
-3.8 |
|
Interest Income - Non-Operating |
3.5 |
4.2 |
2.1 |
2.9 |
7.5 |
|
Investment Income - Non-Operating |
74.0 |
5.2 |
6.8 |
23.1 |
-52.3 |
|
Interest/Investment Income - Non-Operating |
77.5 |
9.4 |
8.9 |
26.0 |
-44.8 |
|
Interest Income (Expense) - Net Non-Operating Total |
73.1 |
3.2 |
5.7 |
19.3 |
-48.6 |
|
Gain (Loss) on Sale of Assets |
0.9 |
1.1 |
0.2 |
0.1 |
-1.9 |
|
Other Non-Operating Income (Expense) |
13.1 |
6.2 |
1.1 |
-0.8 |
-2.0 |
|
Other, Net |
13.1 |
6.2 |
1.1 |
-0.8 |
-2.0 |
|
Income Before Tax |
88.6 |
193.2 |
354.4 |
157.2 |
-12.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
60.3 |
54.9 |
121.8 |
27.5 |
74.8 |
|
Income After Tax |
28.3 |
138.3 |
232.6 |
129.7 |
-87.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.4 |
-3.4 |
-2.3 |
-1.7 |
0.5 |
|
Net Income Before Extraord Items |
26.9 |
134.9 |
230.3 |
128.0 |
-86.7 |
|
Net Income |
26.9 |
134.9 |
230.3 |
128.0 |
-86.7 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
26.9 |
134.8 |
230.4 |
128.0 |
-86.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
26.9 |
134.8 |
230.4 |
128.0 |
-86.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
139.8 |
143.1 |
143.9 |
145.4 |
145.8 |
|
Basic EPS Excl Extraord Items |
0.19 |
0.94 |
1.60 |
0.88 |
-0.59 |
|
Basic/Primary EPS Incl Extraord Items |
0.19 |
0.94 |
1.60 |
0.88 |
-0.59 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
26.9 |
134.8 |
230.4 |
128.0 |
-86.7 |
|
Diluted Weighted Average Shares |
140.7 |
144.5 |
145.5 |
146.8 |
145.8 |
|
Diluted EPS Excl Extraord Items |
0.19 |
0.93 |
1.58 |
0.87 |
-0.59 |
|
Diluted EPS Incl Extraord Items |
0.19 |
0.93 |
1.58 |
0.87 |
-0.59 |
|
Dividends per Share - Common Stock Primary Issue |
0.36 |
0.38 |
0.47 |
0.32 |
0.45 |
|
Gross Dividends - Common Stock |
49.9 |
54.4 |
66.8 |
46.9 |
65.1 |
|
Interest Expense, Supplemental |
4.3 |
6.1 |
3.2 |
6.7 |
3.8 |
|
Depreciation, Supplemental |
519.5 |
536.8 |
474.9 |
417.1 |
432.4 |
|
Total Special Items |
42.6 |
12.7 |
36.8 |
56.6 |
51.3 |
|
Normalized Income Before Tax |
131.3 |
205.9 |
391.2 |
213.8 |
39.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
14.9 |
3.6 |
12.9 |
9.1 |
16.5 |
|
Inc Tax Ex Impact of Sp Items |
75.3 |
58.6 |
134.6 |
36.6 |
91.3 |
|
Normalized Income After Tax |
56.0 |
147.4 |
256.6 |
177.2 |
-52.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
54.6 |
143.9 |
254.3 |
175.5 |
-51.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.39 |
1.01 |
1.77 |
1.21 |
-0.36 |
|
Diluted Normalized EPS |
0.39 |
1.00 |
1.75 |
1.20 |
-0.36 |
|
Amort of Acquisition Costs, Supplemental |
- |
0.0 |
-0.6 |
4.6 |
4.2 |
|
Research & Development Exp, Supplemental |
182.3 |
204.2 |
169.8 |
136.4 |
115.0 |
|
Reported Operating Profit |
65.3 |
196.5 |
394.6 |
228.9 |
105.5 |
|
Reported Ordinary Profit |
131.3 |
205.9 |
391.8 |
209.2 |
34.7 |
|
Normalized EBIT |
45.0 |
196.5 |
385.0 |
190.8 |
85.3 |
|
Normalized EBITDA |
564.5 |
733.3 |
859.3 |
612.5 |
521.9 |
|
Current Tax - Total |
81.3 |
45.6 |
- |
- |
- |
|
Current Tax - Total |
81.3 |
45.6 |
- |
- |
- |
|
Deferred Tax - Total |
-21.0 |
9.3 |
- |
- |
- |
|
Deferred Tax - Total |
-21.0 |
9.3 |
- |
- |
- |
|
Income Tax - Total |
60.3 |
54.9 |
- |
- |
- |
|
Interest Cost - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Service Cost - Domestic |
0.3 |
0.7 |
1.2 |
1.1 |
1.8 |
|
Expected Return on Assets - Domestic |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Actuarial Gains and Losses - Domestic |
0.0 |
0.0 |
0.0 |
0.2 |
0.0 |
|
Transition Costs - Domestic |
- |
0.0 |
1.4 |
- |
0.6 |
|
Domestic Pension Plan Expense |
0.4 |
0.8 |
2.6 |
1.3 |
2.4 |
|
Defined Contribution Expense - Domestic |
20.0 |
24.2 |
16.2 |
16.1 |
15.1 |
|
Total Pension Expense |
20.4 |
25.0 |
18.8 |
17.5 |
17.6 |
|
Discount Rate - Domestic |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
- |
1.00% |
1.00% |
1.00% |
1.00% |
|
Total Plan Interest Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Plan Service Cost |
0.3 |
0.7 |
1.2 |
1.1 |
1.8 |
|
Total Plan Expected Return |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
|
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 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
670.1 |
946.3 |
808.2 |
629.5 |
582.7 |
|
Short Term Investments |
214.5 |
330.1 |
329.6 |
227.9 |
266.0 |
|
Cash and Short Term Investments |
884.6 |
1,276.4 |
1,137.8 |
857.4 |
848.7 |
|
Accounts Receivable - Trade, Gross |
625.3 |
705.2 |
679.9 |
565.2 |
486.4 |
|
Provision for Doubtful Accounts |
-16.0 |
-5.1 |
-5.2 |
-5.3 |
-6.5 |
|
Trade Accounts Receivable - Net |
609.3 |
700.1 |
674.7 |
559.9 |
479.9 |
|
Other Receivables |
- |
- |
- |
0.0 |
60.6 |
|
Total Receivables, Net |
609.3 |
700.1 |
674.7 |
559.9 |
540.4 |
|
Inventories - Finished Goods |
147.6 |
170.9 |
141.5 |
107.3 |
160.4 |
|
Inventories - Work In Progress |
87.4 |
101.1 |
100.1 |
77.8 |
82.4 |
|
Inventories - Raw Materials |
175.9 |
162.7 |
118.1 |
83.4 |
79.1 |
|
Total Inventory |
410.9 |
434.8 |
359.7 |
268.6 |
322.0 |
|
Deferred Income Tax - Current Asset |
34.1 |
25.6 |
41.0 |
34.1 |
22.2 |
|
Other Current Assets |
77.1 |
132.1 |
56.1 |
50.7 |
55.7 |
|
Other Current Assets, Total |
111.2 |
157.7 |
97.1 |
84.7 |
77.9 |
|
Total Current Assets |
2,016.0 |
2,568.9 |
2,269.2 |
1,770.6 |
1,789.1 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
2,059.6 |
2,159.1 |
2,100.8 |
1,714.4 |
1,896.9 |
|
Goodwill, Net |
- |
- |
0.0 |
0.3 |
5.5 |
|
Intangibles, Net |
120.5 |
64.2 |
53.1 |
45.9 |
38.1 |
|
LT Investment - Affiliate Companies |
- |
23.6 |
27.1 |
22.4 |
- |
|
LT Investments - Other |
326.8 |
280.7 |
274.6 |
271.2 |
216.9 |
|
Long Term Investments |
326.8 |
304.3 |
301.8 |
293.6 |
216.9 |
|
Note Receivable - Long Term |
0.5 |
0.5 |
0.5 |
5.5 |
10.5 |
|
Deferred Income Tax - Long Term Asset |
27.1 |
48.0 |
52.1 |
16.4 |
20.0 |
|
Other Long Term Assets |
20.0 |
24.3 |
19.5 |
26.4 |
18.6 |
|
Other Long Term Assets, Total |
47.1 |
72.3 |
71.6 |
42.8 |
38.6 |
|
Total Assets |
4,570.6 |
5,169.3 |
4,797.0 |
3,873.1 |
3,995.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
414.0 |
614.3 |
574.0 |
414.0 |
375.1 |
|
Accrued Expenses |
35.5 |
45.3 |
49.4 |
42.1 |
33.9 |
|
Notes Payable/Short Term Debt |
218.0 |
227.2 |
218.4 |
141.0 |
464.3 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
3.4 |
34.3 |
4.2 |
|
Income Taxes Payable |
58.9 |
10.4 |
112.2 |
25.0 |
4.7 |
|
Other Payables |
144.6 |
210.6 |
310.9 |
110.2 |
231.8 |
|
Deferred Income Tax - Current Liability |
0.7 |
0.3 |
0.2 |
8.3 |
0.3 |
|
Other Current Liabilities |
120.7 |
111.7 |
106.7 |
83.2 |
69.5 |
|
Other Current liabilities, Total |
324.9 |
333.0 |
530.1 |
226.7 |
306.3 |
|
Total Current Liabilities |
992.4 |
1,219.9 |
1,375.2 |
858.2 |
1,183.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
461.4 |
546.5 |
61.3 |
56.8 |
83.5 |
|
Capital Lease Obligations |
7.1 |
12.2 |
16.7 |
18.7 |
23.8 |
|
Total Long Term Debt |
468.4 |
558.6 |
78.0 |
75.5 |
107.3 |
|
Total Debt |
686.5 |
785.8 |
299.8 |
250.9 |
575.8 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
30.5 |
24.2 |
36.0 |
38.0 |
36.8 |
|
Deferred Income Tax |
30.5 |
24.2 |
36.0 |
38.0 |
36.8 |
|
Minority Interest |
38.6 |
46.3 |
43.0 |
36.3 |
32.6 |
|
Pension Benefits - Underfunded |
10.5 |
10.9 |
17.8 |
13.2 |
13.7 |
|
Other Long Term Liabilities |
21.5 |
18.8 |
17.2 |
16.1 |
16.7 |
|
Other Liabilities, Total |
32.0 |
29.7 |
35.0 |
29.4 |
30.4 |
|
Total Liabilities |
1,562.0 |
1,878.8 |
1,567.2 |
1,037.4 |
1,390.8 |
|
|
|
|
|
|
|
|
Common Stock |
681.8 |
778.7 |
774.0 |
686.6 |
649.5 |
|
Common Stock |
681.8 |
778.7 |
774.0 |
686.6 |
649.5 |
|
Additional Paid-In Capital |
736.3 |
845.0 |
841.1 |
744.3 |
699.9 |
|
Retained Earnings (Accumulated Deficit) |
1,937.1 |
2,233.4 |
2,160.7 |
1,751.6 |
1,580.8 |
|
Treasury Stock - Common |
-394.4 |
-371.9 |
-369.7 |
-261.5 |
-247.3 |
|
Unrealized Gain (Loss) |
72.3 |
31.0 |
25.6 |
35.9 |
4.8 |
|
Translation Adjustment |
-24.4 |
-225.4 |
-201.7 |
-121.1 |
-82.9 |
|
Other Equity |
0.0 |
0.0 |
- |
- |
- |
|
Other Comprehensive Income |
-0.1 |
-0.3 |
-0.2 |
0.0 |
-0.2 |
|
Other Equity, Total |
-24.6 |
-225.7 |
-201.9 |
-121.1 |
-83.1 |
|
Total Equity |
3,008.6 |
3,290.4 |
3,229.8 |
2,835.7 |
2,604.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
4,570.6 |
5,169.3 |
4,796.9 |
3,873.1 |
3,995.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary Issue |
138.1 |
143.1 |
143.1 |
145.4 |
145.4 |
|
Total Common Shares Outstanding |
138.1 |
143.1 |
143.1 |
145.4 |
145.4 |
|
Treasury Shares - Common Stock Primary Issue |
12.8 |
7.8 |
7.8 |
5.4 |
5.4 |
|
Employees |
11,879 |
11,374 |
13,051 |
11,959 |
11,346 |
|
Number of Common Shareholders |
43,754 |
39,271 |
37,606 |
34,063 |
34,700 |
|
Total Long Term Debt, Supplemental |
482.9 |
547.2 |
64.6 |
91.2 |
87.7 |
|
Long Term Debt Maturing within 1 Year |
21.5 |
0.7 |
3.4 |
34.3 |
4.2 |
|
Long Term Debt Maturing in Year 2 |
268.9 |
24.5 |
0.7 |
2.9 |
32.0 |
|
Long Term Debt Maturing in Year 3 |
32.8 |
303.5 |
24.1 |
0.5 |
0.7 |
|
Long Term Debt Maturing in Year 4 |
159.5 |
36.4 |
0.0 |
21.4 |
0.2 |
|
Long Term Debt Maturing in Year 5 |
0.1 |
182.1 |
36.2 |
0.0 |
20.2 |
|
Long Term Debt Maturing in 2-3 Years |
301.7 |
328.0 |
24.8 |
3.3 |
32.7 |
|
Long Term Debt Maturing in 4-5 Years |
159.6 |
218.5 |
36.2 |
21.4 |
20.4 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.3 |
32.1 |
30.4 |
|
Total Capital Leases, Supplemental |
12.6 |
15.5 |
22.6 |
23.5 |
28.6 |
|
Capital Lease Payments Due in Year 1 |
5.5 |
3.3 |
5.9 |
4.9 |
4.8 |
|
Capital Lease Payments Due in Year 2 |
2.3 |
5.1 |
7.5 |
4.2 |
5.4 |
|
Capital Lease Payments Due in Year 3 |
2.2 |
1.9 |
2.5 |
4.0 |
4.2 |
|
Capital Lease Payments Due in Year 4 |
0.6 |
2.3 |
1.8 |
4.0 |
4.1 |
|
Capital Lease Payments Due in Year 5 |
1.1 |
0.6 |
2.2 |
2.1 |
3.9 |
|
Capital Lease Payments Due in 2-3 Years |
4.5 |
7.1 |
9.9 |
8.2 |
9.6 |
|
Capital Lease Payments Due in 4-5 Years |
1.7 |
2.9 |
4.0 |
6.1 |
8.0 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.9 |
2.2 |
2.8 |
4.4 |
6.2 |
|
Pension Obligation - Domestic |
3.8 |
2.9 |
15.3 |
11.5 |
14.5 |
|
Plan Assets - Domestic |
0.0 |
0.0 |
6.1 |
5.4 |
7.3 |
|
Funded Status - Domestic |
-3.8 |
-2.9 |
-9.3 |
-6.1 |
-7.3 |
|
Total Funded Status |
-3.8 |
-2.9 |
-9.3 |
-6.1 |
-7.3 |
|
Discount Rate - Domestic |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
- |
1.00% |
1.00% |
1.00% |
1.00% |
|
Accrued Liabilities - Domestic |
-3.8 |
-2.9 |
-9.2 |
-6.1 |
-7.1 |
|
Other Assets, Net - Domestic |
- |
0.0 |
0.0 |
0.0 |
0.2 |
|
Net Assets Recognized on Balance Sheet |
-3.8 |
-2.9 |
-9.2 |
-6.2 |
-7.0 |
|
Total Plan Obligations |
3.8 |
2.9 |
15.3 |
11.5 |
14.5 |
|
Total Plan Assets |
0.0 |
0.0 |
6.1 |
5.4 |
7.3 |
|
|
|
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 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
88.6 |
193.2 |
354.4 |
157.2 |
-12.4 |
|
Depreciation |
514.6 |
536.8 |
474.9 |
417.1 |
432.4 |
|
Depreciation/Depletion |
514.6 |
536.8 |
474.9 |
417.1 |
432.4 |
|
Amortization of Acquisition Costs |
4.9 |
0.0 |
-0.6 |
4.6 |
4.2 |
|
Amortization |
4.9 |
0.0 |
-0.6 |
4.6 |
4.2 |
|
Unusual Items |
25.0 |
18.2 |
46.9 |
56.8 |
47.8 |
|
Equity in Net Earnings (Loss) |
- |
3.8 |
-1.6 |
-8.7 |
34.4 |
|
Other Non-Cash Items |
6.9 |
-9.7 |
-3.4 |
-3.3 |
-12.1 |
|
Non-Cash Items |
31.9 |
12.4 |
41.9 |
44.7 |
70.1 |
|
Accounts Receivable |
61.2 |
-34.1 |
-55.4 |
-46.5 |
231.8 |
|
Inventories |
2.2 |
-78.1 |
-61.4 |
67.3 |
92.8 |
|
Accounts Payable |
-157.1 |
65.2 |
118.3 |
14.5 |
-175.2 |
|
Accrued Expenses |
-4.2 |
1.2 |
6.9 |
17.0 |
-14.9 |
|
Other Operating Cash Flow |
1.4 |
-223.3 |
-59.5 |
6.6 |
-111.2 |
|
Changes in Working Capital |
-96.5 |
-269.1 |
-51.0 |
58.8 |
23.4 |
|
Cash from Operating Activities |
543.6 |
473.3 |
819.6 |
682.4 |
517.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-568.2 |
-729.1 |
-531.7 |
-301.8 |
-531.0 |
|
Purchase/Acquisition of Intangibles |
-6.5 |
-26.2 |
-8.3 |
-4.8 |
-10.1 |
|
Capital Expenditures |
-574.7 |
-755.3 |
-540.0 |
-306.6 |
-541.1 |
|
Acquisition of Business |
-69.5 |
- |
- |
- |
- |
|
Sale of Fixed Assets |
2.3 |
1.2 |
1.5 |
0.3 |
0.5 |
|
Sale/Maturity of Investment |
0.3 |
3.2 |
7.7 |
5.3 |
8.6 |
|
Investment, Net |
-12.0 |
0.0 |
0.2 |
0.0 |
0.0 |
|
Purchase of Investments |
-2.6 |
-0.6 |
-0.8 |
-4.1 |
-17.1 |
|
Other Investing Cash Flow |
-46.7 |
0.7 |
-15.3 |
-3.9 |
0.1 |
|
Other Investing Cash Flow Items, Total |
-128.3 |
4.4 |
-6.7 |
-2.3 |
-7.9 |
|
Cash from Investing Activities |
-703.0 |
-750.9 |
-546.6 |
-309.0 |
-549.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.2 |
-0.2 |
-0.2 |
-1.2 |
-0.3 |
|
Financing Cash Flow Items |
-0.2 |
-0.2 |
-0.2 |
-1.2 |
-0.3 |
|
Cash Dividends Paid - Common |
-50.8 |
-72.5 |
-50.5 |
-46.9 |
-87.4 |
|
Total Cash Dividends Paid |
-50.8 |
-72.5 |
-50.5 |
-46.9 |
-87.4 |
|
Sale/Issuance of Common |
0.0 |
0.0 |
0.0 |
0.0 |
0.4 |
|
Repurchase/Retirement of Common |
-80.0 |
0.0 |
-72.4 |
-0.1 |
-90.9 |
|
Common Stock, Net |
-80.0 |
0.0 |
-72.4 |
-0.1 |
-90.6 |
|
Issuance (Retirement) of Stock, Net |
-80.0 |
0.0 |
-72.4 |
-0.1 |
-90.6 |
|
Short Term Debt, Net |
-2.0 |
7.0 |
57.5 |
-347.2 |
414.4 |
|
Long Term Debt Issued |
1.2 |
506.6 |
0.4 |
3.2 |
79.6 |
|
Long Term Debt Reduction |
-6.9 |
-9.1 |
-42.6 |
-13.8 |
-111.1 |
|
Long Term Debt, Net |
-5.7 |
497.5 |
-42.2 |
-10.6 |
-31.4 |
|
Issuance (Retirement) of Debt, Net |
-7.7 |
504.5 |
15.3 |
-357.8 |
382.9 |
|
Cash from Financing Activities |
-138.7 |
431.8 |
-107.8 |
-406.0 |
204.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
38.7 |
-7.2 |
-15.3 |
-6.8 |
-24.9 |
|
Net Change in Cash |
-259.3 |
146.9 |
149.9 |
-39.4 |
148.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,259.3 |
1,176.3 |
934.1 |
900.6 |
684.6 |
|
Net Cash - Ending Balance |
1,000.0 |
1,323.3 |
1,084.0 |
861.2 |
833.0 |
|
Cash Interest Paid |
4.3 |
4.1 |
3.2 |
6.7 |
3.8 |
|
Cash Taxes Paid |
-21.1 |
152.7 |
79.1 |
-36.7 |
117.8 |
|
|
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 |
|
|
|
|
|
|
|
|
Net Sales |
3,446.4 |
3,810.3 |
3,558.9 |
2,950.3 |
3,078.1 |
|
Total Revenue |
3,446.4 |
3,810.3 |
3,558.9 |
2,950.3 |
3,078.1 |
|
|
|
|
|
|
|
|
Cost of Sales |
2,822.7 |
2,987.1 |
2,594.9 |
2,243.9 |
2,481.4 |
|
Other Selling, general and administrativ |
248.6 |
- |
- |
- |
- |
|
Other Selling/General/Admin. Expense |
- |
293.9 |
- |
- |
- |
|
Bonus |
- |
- |
- |
14.1 |
17.9 |
|
Store & freight expenses |
- |
- |
- |
19.3 |
22.9 |
|
Payroll |
113.8 |
114.2 |
113.1 |
104.7 |
106.0 |
|
Allowance for Bonus |
10.1 |
9.8 |
11.1 |
9.6 |
8.1 |
|
Allowance for Dir's Bonus |
0.5 |
1.4 |
3.0 |
2.2 |
1.9 |
|
Periodic Retirement Benefit |
1.8 |
1.9 |
1.8 |
2.0 |
1.9 |
|
Reserve for Director Retirement Bonus |
1.2 |
1.4 |
1.1 |
0.8 |
1.1 |
|
Depreciation Of Inactive Noncurrent Asse |
20.3 |
- |
- |
- |
- |
|
Depreciation |
- |
- |
- |
25.0 |
21.5 |
|
Research & Development |
182.3 |
204.2 |
169.8 |
136.4 |
115.0 |
|
Amortization of Goodwill |
- |
- |
- |
5.5 |
5.1 |
|
Other General Expenses |
- |
- |
269.6 |
157.9 |
189.6 |
|
Loss on liquidation of subsidiaries and |
41.5 |
- |
- |
- |
- |
|
Other Unusual Expense (Income) |
0.0 |
- |
- |
- |
- |
|
Gain on negative goodwill |
-1.2 |
- |
- |
- |
- |
|
Loss on disaster |
- |
0.3 |
- |
- |
- |
|
Subsidy(1) |
- |
-0.8 |
-1.5 |
-2.3 |
-2.2 |
|
SP Reversal G on allow.doubt.accounts |
- |
0.0 |
-1.6 |
-1.2 |
-2.5 |
|
SP G on reversal of subscription rights |
-5.1 |
-5.0 |
-4.0 |
0.0 |
- |
|
Subsidy |
- |
0.0 |
0.0 |
-2.3 |
-2.2 |
|
SP Other Special Gain |
- |
-0.2 |
-0.2 |
-2.9 |
-0.6 |
|
SP Fix. Asset Writeoff |
5.7 |
8.3 |
20.2 |
19.1 |
5.0 |
|
SP Impairment Loss |
2.2 |
9.7 |
13.5 |
36.9 |
3.6 |
|
SP Reval. Inv. Sec. |
0.0 |
0.2 |
6.6 |
0.1 |
37.5 |
|
SP Claim Compensation |
- |
- |
0.0 |
0.2 |
1.5 |
|
SP L.Change Retire.System |
- |
- |
- |
0.0 |
0.6 |
|
SP Loss-Prior Period Adjustment |
- |
0.0 |
0.1 |
0.4 |
2.1 |
|
SP Disaster Loss |
- |
- |
0.0 |
- |
- |
|
SP Other Special Loss |
0.5 |
1.4 |
4.5 |
4.2 |
2.5 |
|
NOP Amort. of Nagative Goodwill |
- |
0.0 |
-0.9 |
-0.9 |
-0.9 |
|
NOP Depreciation on fixed assets |
- |
- |
10.5 |
39.0 |
21.1 |
|
Total Operating Expense |
3,444.9 |
3,627.5 |
3,211.6 |
2,811.7 |
3,038.0 |
|
|
|
|
|
|
|
|
NOP Interest Income |
3.5 |
4.2 |
2.1 |
2.9 |
7.5 |
|
Equity In Losses Of Affiliates |
- |
-3.8 |
- |
- |
- |
|
Loss On Sales Of Investment Securities |
- |
0.0 |
- |
- |
- |
|
NOP Dividend Income |
6.3 |
6.5 |
5.5 |
4.4 |
5.5 |
|
Depreciation Of Inactive Noncurrent Asse |
- |
0.0 |
- |
- |
- |
|
Other Non-Operating Income (Expense) |
0.0 |
0.0 |
- |
- |
- |
|
NOP Rental Income |
- |
- |
0.0 |
0.2 |
0.2 |
|
NOP Equity Gains |
- |
0.0 |
1.6 |
8.7 |
0.0 |
|
NOP Exchange Gain |
67.6 |
2.4 |
0.0 |
9.9 |
0.0 |
|
NOP Compen.Rcvd. |
- |
- |
0.0 |
11.0 |
0.0 |
|
NOP Subsidies income |
14.8 |
5.5 |
4.2 |
0.0 |
2.4 |
|
NOP Other Non-Ops. Inc. |
11.8 |
10.8 |
7.9 |
13.4 |
6.8 |
|
Bond issuance cost |
- |
-2.0 |
- |
- |
- |
|
NOP Interest Expense |
-4.3 |
-4.1 |
-3.2 |
-6.7 |
-3.8 |
|
NOP Bond Issue Cost |
- |
- |
0.0 |
- |
- |
|
NOP Cost of Rent Income |
-0.1 |
-0.2 |
-0.2 |
-15.6 |
-4.9 |
|
NOP Equity Losses |
- |
- |
0.0 |
0.0 |
-34.4 |
|
NOP Exchange Loss |
- |
0.0 |
-0.4 |
0.0 |
-23.6 |
|
NOP Other Non-Ops. Exp. |
-13.2 |
-9.8 |
-10.9 |
-9.9 |
-6.5 |
|
SP Gain-Fix. Asset Sale |
0.9 |
1.1 |
0.2 |
0.1 |
0.2 |
|
SP Gain-Inv. Sec. Sale |
0.0 |
0.1 |
0.0 |
0.0 |
0.1 |
|
SP Loss Sale Inv.Secs. |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP L. Liquid.Business |
- |
- |
- |
0.0 |
-2.1 |
|
Net Income Before Taxes |
88.6 |
193.2 |
354.4 |
157.2 |
-12.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
60.3 |
54.9 |
121.8 |
27.5 |
74.8 |
|
Net Income After Taxes |
28.3 |
138.3 |
232.6 |
129.7 |
-87.2 |
|
|
|
|
|
|
|
|
Minority interests in income |
-1.4 |
-3.4 |
-2.3 |
-1.7 |
0.5 |
|
Net Income Before Extra. Items |
26.9 |
134.9 |
230.3 |
128.0 |
-86.7 |
|
Net Income |
26.9 |
134.9 |
230.3 |
128.0 |
-86.7 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
EPS Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
26.9 |
134.8 |
230.4 |
128.0 |
-86.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
26.9 |
134.8 |
230.4 |
128.0 |
-86.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
139.8 |
143.1 |
143.9 |
145.4 |
145.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.19 |
0.94 |
1.60 |
0.88 |
-0.59 |
|
Basic EPS Including ExtraOrdinary Items |
0.19 |
0.94 |
1.60 |
0.88 |
-0.59 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
26.9 |
134.8 |
230.4 |
128.0 |
-86.7 |
|
Diluted Weighted Average Shares |
140.7 |
144.5 |
145.5 |
146.8 |
145.8 |
|
Diluted EPS Excluding ExtraOrd Items |
0.19 |
0.93 |
1.58 |
0.87 |
-0.59 |
|
Diluted EPS Including ExtraOrd Items |
0.19 |
0.93 |
1.58 |
0.87 |
-0.59 |
|
DPS-Ordinary Shares |
0.36 |
0.38 |
0.47 |
0.32 |
0.45 |
|
Gross Dividends - Common Stock |
49.9 |
54.4 |
66.8 |
46.9 |
65.1 |
|
Normalized Income Before Taxes |
131.3 |
205.9 |
391.2 |
213.8 |
39.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
75.3 |
58.6 |
134.6 |
36.6 |
91.3 |
|
Normalized Income After Taxes |
56.0 |
147.4 |
256.6 |
177.2 |
-52.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
54.6 |
143.9 |
254.3 |
175.5 |
-51.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.39 |
1.01 |
1.77 |
1.21 |
-0.36 |
|
Diluted Normalized EPS |
0.39 |
1.00 |
1.75 |
1.20 |
-0.36 |
|
Total Research And Development Expense |
182.3 |
204.2 |
169.8 |
136.4 |
115.0 |
|
Bond issuance cost |
- |
2.0 |
- |
- |
- |
|
Interest Expense |
4.3 |
4.1 |
3.2 |
6.7 |
3.8 |
|
Depreciation |
519.5 |
536.8 |
474.9 |
417.1 |
432.4 |
|
Amort. of Goodwill&neg. goodwill |
- |
0.0 |
-0.6 |
4.6 |
4.2 |
|
Income taxes-current |
81.3 |
45.6 |
- |
- |
- |
|
Current Tax - Total |
81.3 |
45.6 |
- |
- |
- |
|
Income taxes-deferred |
-21.0 |
9.3 |
- |
- |
- |
|
Deferred Tax - Total |
-21.0 |
9.3 |
- |
- |
- |
|
Income Tax - Total |
60.3 |
54.9 |
- |
- |
- |
|
Reported Operating Profit |
65.3 |
196.5 |
394.6 |
228.9 |
105.5 |
|
Reported Ordinary Profit |
131.3 |
205.9 |
391.8 |
209.2 |
34.7 |
|
Service Cost |
0.3 |
0.7 |
1.2 |
1.1 |
1.8 |
|
Interest Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Expected Return of Plan Asset |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Actuarial G/L |
0.0 |
0.0 |
0.0 |
0.2 |
0.0 |
|
Transit. G to Defined Contribution Plan |
- |
0.0 |
1.4 |
- |
0.6 |
|
Domestic Pension Plan Expense |
0.4 |
0.8 |
2.6 |
1.3 |
2.4 |
|
Retirement Benefit Expenses Loss Due To |
20.0 |
- |
- |
- |
- |
|
Defined Contribution Expense |
- |
24.2 |
16.2 |
16.1 |
15.1 |
|
Total Pension Expense |
20.4 |
25.0 |
18.8 |
17.5 |
17.6 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
- |
2.00% |
- |
- |
- |
|
Discount Rate |
- |
- |
2.00% |
2.00% |
2.00% |
|
Expected return on assets(MIN)-Retiremen |
- |
1.00% |
- |
- |
- |
|
Expected Rate of Return |
- |
- |
1.00% |
1.00% |
1.00% |
|
|
|
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 |
|
|
|
|
|
|
|
|
Cash & Deposit |
670.1 |
946.3 |
808.2 |
629.5 |
582.7 |
|
Notes and accounts receivable-trade |
625.3 |
705.2 |
679.9 |
565.2 |
486.4 |
|
Short-term investment securities |
214.5 |
330.1 |
329.6 |
227.9 |
266.0 |
|
Inventories - merchan. & finished goods |
147.6 |
170.9 |
141.5 |
107.3 |
160.4 |
|
Inventories - work-in-process |
87.4 |
101.1 |
100.1 |
77.8 |
82.4 |
|
Inventories - raw materials & supplies |
175.9 |
162.7 |
118.1 |
83.4 |
79.1 |
|
Dfd. Tax Asset |
34.1 |
25.6 |
41.0 |
34.1 |
22.2 |
|
Tax refund receivable |
- |
- |
- |
0.0 |
60.6 |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Cur. Asset |
77.1 |
132.1 |
56.1 |
50.7 |
55.7 |
|
Doubtful Acct. |
-16.0 |
-5.1 |
-5.2 |
-5.3 |
-6.5 |
|
Total Current Assets |
2,016.0 |
2,568.9 |
2,269.2 |
1,770.6 |
1,789.1 |
|
|
|
|
|
|
|
|
Other Total PPE |
0.0 |
- |
- |
- |
- |
|
Other ppe,net |
- |
0.0 |
- |
- |
- |
|
Buildings and structures, net |
797.4 |
826.7 |
803.3 |
676.2 |
672.0 |
|
Machinery Equipment And Vehicles |
702.5 |
707.1 |
617.4 |
543.0 |
647.7 |
|
Land |
194.2 |
217.3 |
214.9 |
190.1 |
186.0 |
|
Lease assets, net |
23.4 |
28.8 |
32.6 |
34.2 |
37.0 |
|
Construction IP |
298.6 |
328.0 |
384.1 |
221.0 |
299.4 |
|
Other |
43.6 |
51.1 |
48.5 |
50.0 |
54.8 |
|
Goodwill, Net |
- |
- |
0.0 |
0.3 |
5.5 |
|
Intangible assets |
120.5 |
- |
- |
- |
- |
|
Total intangible assets |
- |
64.2 |
- |
- |
- |
|
Intangible Asset., other |
- |
- |
53.1 |
45.9 |
38.1 |
|
Other Investment Securities |
- |
280.7 |
- |
- |
- |
|
Investment Sec. |
326.8 |
- |
274.6 |
271.2 |
216.9 |
|
Invt Secs Noncons, Asc, Affd Cos |
- |
23.6 |
- |
- |
- |
|
Equity secs.-nonconsol affil.&sub. |
- |
- |
27.1 |
22.4 |
- |
|
Long-term loans receivable |
0.5 |
0.5 |
0.5 |
5.5 |
10.5 |
|
Deferred tax assets |
27.1 |
48.0 |
52.1 |
16.4 |
20.0 |
|
Other Total investments and other assets |
0.0 |
- |
- |
- |
- |
|
Allowance For Doubtful Accounts |
-4.1 |
- |
- |
- |
- |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Asset |
24.1 |
29.1 |
24.8 |
31.6 |
23.6 |
|
Doubtful Acct. |
- |
-4.8 |
-5.3 |
-5.2 |
-5.0 |
|
Total Assets |
4,570.6 |
5,169.3 |
4,797.0 |
3,873.1 |
3,995.5 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
414.0 |
614.3 |
574.0 |
414.0 |
375.1 |
|
Short-term loans payable |
218.0 |
227.2 |
218.4 |
141.0 |
464.3 |
|
Current LT Debt |
- |
- |
3.4 |
34.3 |
4.2 |
|
Cur. Port. Bond |
- |
- |
- |
- |
0.0 |
|
Accounts payable-other |
122.8 |
162.2 |
229.8 |
96.1 |
186.0 |
|
Income Tax Pybl. |
58.9 |
10.4 |
112.2 |
25.0 |
4.7 |
|
DeferredTax Liabilities-Current |
0.7 |
0.3 |
0.2 |
8.3 |
0.3 |
|
Accrued Bonuses allow |
35.0 |
44.0 |
46.3 |
39.9 |
31.9 |
|
Provision for directors'' bonuses |
0.4 |
1.4 |
3.1 |
2.2 |
2.0 |
|
Notes payable-facilities |
21.9 |
48.4 |
81.1 |
14.1 |
45.8 |
|
Rounding adjustment Liability |
0.0 |
0.0 |
- |
- |
- |
|
Other Cur. Liabs |
120.7 |
111.7 |
106.7 |
83.2 |
69.5 |
|
Total Current Liabilities |
992.4 |
1,219.9 |
1,375.2 |
858.2 |
1,183.8 |
|
|
|
|
|
|
|
|
Bonds Payable |
425.1 |
485.5 |
- |
- |
- |
|
Straight bonds |
- |
- |
0.0 |
- |
- |
|
Long-term loans payable |
36.2 |
60.9 |
61.3 |
56.8 |
83.5 |
|
Lease liab. |
7.1 |
12.2 |
16.7 |
18.7 |
23.8 |
|
Total Long Term Debt |
468.4 |
558.6 |
78.0 |
75.5 |
107.3 |
|
|
|
|
|
|
|
|
Reval. Dfd. Tax |
1.7 |
1.9 |
2.2 |
1.9 |
1.8 |
|
Other Long Term Liabilities |
0.1 |
- |
- |
- |
- |
|
Rounding adjustment Liability |
- |
0.0 |
- |
- |
- |
|
Res. Accr. Retir |
3.8 |
2.9 |
9.2 |
6.1 |
7.1 |
|
Provision for directors'' retirement ben |
6.7 |
8.0 |
8.6 |
7.1 |
6.6 |
|
Deferred Tax |
28.9 |
22.3 |
33.8 |
36.1 |
35.0 |
|
Nagative Goodwill |
- |
0.0 |
0.0 |
0.9 |
1.7 |
|
Other Liabs. |
21.5 |
18.8 |
17.1 |
15.2 |
15.0 |
|
Minority Int. |
38.6 |
46.3 |
43.0 |
36.3 |
32.6 |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Total Liabilities |
1,562.0 |
1,878.8 |
1,567.2 |
1,037.4 |
1,390.8 |
|
|
|
|
|
|
|
|
Common Stock |
681.8 |
778.7 |
774.0 |
686.6 |
649.5 |
|
Total capital surpluses |
726.5 |
829.4 |
824.5 |
731.3 |
691.8 |
|
Total retained earnings |
1,937.1 |
2,233.4 |
2,160.7 |
1,751.6 |
1,580.8 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Equity |
- |
0.0 |
- |
- |
- |
|
Treasury Stock |
-394.4 |
-371.9 |
-369.7 |
-261.5 |
-247.3 |
|
Valuation difference on available-for-sa |
71.6 |
30.1 |
25.0 |
35.4 |
4.3 |
|
Unrealized Gain/Loss on Hedge |
-0.1 |
-0.3 |
-0.2 |
0.0 |
-0.2 |
|
Reserve by valuation of land |
0.8 |
0.9 |
0.6 |
0.5 |
0.5 |
|
Translation Adj. |
-24.4 |
-225.4 |
-201.7 |
-121.1 |
-82.9 |
|
New Stock Rights |
9.8 |
15.5 |
16.6 |
13.0 |
8.1 |
|
Total Equity |
3,008.6 |
3,290.4 |
3,229.8 |
2,835.7 |
2,604.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
4,570.6 |
5,169.3 |
4,796.9 |
3,873.1 |
3,995.5 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
138.1 |
143.1 |
143.1 |
145.4 |
145.4 |
|
Total Common Shares Outstanding |
138.1 |
143.1 |
143.1 |
145.4 |
145.4 |
|
T/S-Ordinary Shares |
12.8 |
7.8 |
7.8 |
5.4 |
5.4 |
|
Number Of Employees |
11,879 |
- |
- |
- |
- |
|
Full-Time Employees |
- |
11,374 |
13,051 |
11,959 |
11,346 |
|
Total Number of Shareholders |
43,754 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
39,271 |
37,606 |
34,063 |
34,700 |
|
Loans Payable Maturing within a Year |
21.5 |
0.7 |
3.4 |
34.3 |
4.2 |
|
Lns Pble Maturing over a Yr within 2 Yrs |
3.2 |
- |
- |
- |
- |
|
Bond Redemp Amts over a Yr within 2 Yrs |
265.7 |
- |
- |
- |
- |
|
Long Term Debt Maturing Within 2 Year |
- |
24.5 |
0.7 |
2.9 |
32.0 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
32.8 |
- |
- |
- |
- |
|
Bond Redemp Amts over 2 Yrs within 3 Yrs |
- |
303.5 |
- |
- |
- |
|
Long Term Debt Maturing Within 3 Year |
- |
- |
24.1 |
0.5 |
0.7 |
|
Bond Redemp Amts over 3 Yrs within 4 Yrs |
159.4 |
- |
- |
- |
- |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
0.1 |
36.4 |
- |
- |
- |
|
Long Term Debt Maturing Within 4 Year |
- |
- |
0.0 |
21.4 |
0.2 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
0.1 |
- |
- |
- |
- |
|
Bond Redemp Amts over 4 Yrs within 5 Yrs |
- |
182.1 |
- |
- |
- |
|
Long Term Debt Maturing Within 5 Year |
- |
- |
36.2 |
0.0 |
20.2 |
|
Other Division And End Of Current Period |
0.0 |
- |
- |
- |
- |
|
Long Term Debt Remaining Maturities |
- |
- |
0.3 |
32.1 |
30.4 |
|
Total Long Term Debt, Supplemental |
482.9 |
547.2 |
64.6 |
91.2 |
87.7 |
|
Capital Lease Maturing within a Year |
5.5 |
3.3 |
5.9 |
4.9 |
4.8 |
|
Cap Lease Maturg over a Yr within 2 Yrs |
2.3 |
- |
- |
- |
- |
|
Capital Leases Maturing Within 2 Yr |
- |
5.1 |
7.5 |
4.2 |
5.4 |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
2.2 |
- |
- |
- |
- |
|
Capital Leases Maturing Within 3 Yr |
- |
1.9 |
2.5 |
4.0 |
4.2 |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.6 |
- |
- |
- |
- |
|
Capital Leases Maturing Within 4 Yr |
- |
2.3 |
1.8 |
4.0 |
4.1 |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
1.1 |
- |
- |
- |
- |
|
Capital Leases Maturing Within 5 Yr |
- |
0.6 |
2.2 |
2.1 |
3.9 |
|
Other Division And End Of Current Period |
0.9 |
- |
- |
- |
- |
|
Capital Leases Remaining Maturities |
- |
2.2 |
2.8 |
4.4 |
6.2 |
|
Total Capital Leases, Supplemental |
12.6 |
15.5 |
22.6 |
23.5 |
28.6 |
|
Pension Obligation |
3.8 |
2.9 |
15.3 |
11.5 |
14.5 |
|
Fair Value of Plan Asset |
0.0 |
0.0 |
6.1 |
5.4 |
7.3 |
|
Funded Status |
-3.8 |
-2.9 |
-9.3 |
-6.1 |
-7.3 |
|
Total Funded Status |
-3.8 |
-2.9 |
-9.3 |
-6.1 |
-7.3 |
|
Disc Rate(MIN)-Retmt Ben Oblig(Domestic) |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
EROA(MIN)-Retirement Benefit Obiligate-D |
- |
1.00% |
1.00% |
1.00% |
1.00% |
|
Unrecognized Actuarial Gains and Losses |
- |
0.0 |
0.0 |
0.0 |
0.2 |
|
Reserve for Accrued Retirement Benefits |
-3.8 |
-2.9 |
-9.2 |
-6.1 |
-7.1 |
|
Net Assets Recognized on Balance Sheet |
-3.8 |
-2.9 |
-9.2 |
-6.2 |
-7.0 |
|
|
|
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 |
|
|
|
|
|
|
|
|
Income Before Tax |
88.6 |
193.2 |
354.4 |
157.2 |
-12.4 |
|
Depreciation |
514.6 |
536.8 |
474.9 |
417.1 |
432.4 |
|
Impairment Loss |
2.2 |
9.7 |
13.5 |
36.9 |
3.6 |
|
Amort. Goodwill&negative goodwill |
4.9 |
0.0 |
-0.6 |
4.6 |
4.2 |
|
Inc/Dec Provision For Retirement Benefit |
-0.5 |
-6.7 |
2.3 |
-1.1 |
-1.8 |
|
Increase (decrease) in provision for bon |
-4.0 |
-2.7 |
1.3 |
6.2 |
-10.4 |
|
Increase (decrease) in provision for dir |
-0.9 |
-1.8 |
0.6 |
0.1 |
-1.2 |
|
Increase (decrease) in allowance for dou |
12.9 |
-0.6 |
-1.2 |
-1.6 |
-1.0 |
|
Interest&Div. Income |
-9.8 |
-6.5 |
-7.6 |
-7.3 |
-13.1 |
|
Interest Expense |
4.3 |
4.1 |
3.2 |
6.7 |
3.8 |
|
Equity in (earnings) losses of affiliate |
- |
3.8 |
-1.6 |
-8.7 |
34.4 |
|
Loss (gain) on sales of property, plant |
-0.9 |
-1.1 |
-0.2 |
-0.1 |
-0.2 |
|
Loss on retirement of property, plant an |
23.8 |
9.5 |
27.0 |
19.9 |
6.9 |
|
Loss (gain) on sales of investment secur |
0.0 |
-0.1 |
0.0 |
0.0 |
-0.1 |
|
Loss (gain) on valuation of investment s |
0.0 |
0.2 |
6.6 |
0.1 |
37.5 |
|
Decrease (increase) in notes and account |
61.2 |
-34.1 |
-55.4 |
-46.5 |
231.8 |
|
Decrease (increase) in inventories |
2.2 |
-78.1 |
-61.4 |
67.3 |
92.8 |
|
Increase (decrease) in notes and account |
-157.1 |
65.2 |
118.3 |
14.5 |
-175.2 |
|
Increase (decrease) in accrued expenses |
0.7 |
5.7 |
5.0 |
10.6 |
-3.3 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Other, net |
-24.6 |
-73.1 |
15.3 |
-31.4 |
-1.9 |
|
Interest&Div. Rcvd. |
9.2 |
6.6 |
7.4 |
8.1 |
12.3 |
|
Interest Paid |
-4.3 |
-4.1 |
-3.2 |
-6.7 |
-3.8 |
|
Tax Paid |
-26.8 |
-152.7 |
-81.2 |
-26.6 |
-117.8 |
|
Income taxes refund |
47.9 |
0.0 |
2.1 |
63.2 |
0.0 |
|
Change in Consoli.Subsidiary Account |
- |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
543.6 |
473.3 |
819.6 |
682.4 |
517.7 |
|
|
|
|
|
|
|
|
Purchase Of Investments In Subsidiaries |
-69.5 |
- |
- |
- |
- |
|
Purchase of property, plant and equipmen |
-568.2 |
-729.1 |
-531.7 |
-301.8 |
-531.0 |
|
Proceeds from sales of property, plant a |
2.3 |
1.2 |
1.5 |
0.3 |
0.5 |
|
Purch. Intangibles |
-6.5 |
-26.2 |
-8.3 |
-4.8 |
-10.1 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
LT Prepaid Exp. Paid |
- |
- |
- |
- |
-2.1 |
|
Purch. Invest. Sec. |
-2.5 |
-0.6 |
-0.5 |
-4.1 |
-17.0 |
|
Sale of Invest. Sec. |
0.3 |
0.2 |
0.1 |
0.1 |
1.3 |
|
Decrease (increase) in short-term loans |
-12.0 |
0.0 |
0.2 |
0.0 |
0.0 |
|
Payments of long-term loans receivable |
-0.1 |
0.0 |
-0.2 |
0.0 |
-0.1 |
|
Collection of long-term loans receivable |
0.0 |
3.0 |
7.6 |
5.3 |
7.3 |
|
Other, net |
-46.6 |
0.7 |
-15.3 |
-3.9 |
2.2 |
|
Cash from Investing Activities |
-703.0 |
-750.9 |
-546.6 |
-309.0 |
-549.0 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
-2.0 |
7.0 |
57.5 |
-347.2 |
414.4 |
|
Proceeds From Issuance Of Bonds |
- |
506.6 |
- |
- |
- |
|
Proceeds from long-term loans payable |
1.2 |
0.0 |
0.4 |
3.2 |
79.6 |
|
Repayment of long-term loans payable |
-1.0 |
-3.5 |
-37.4 |
-4.7 |
-5.3 |
|
Issue Bond |
- |
- |
0.0 |
- |
- |
|
Redempt.Bond |
- |
- |
- |
0.0 |
-99.5 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Purchase of treasury stock of subsidiari |
-2.0 |
- |
- |
- |
- |
|
Purch. Treas. Stk. |
-77.9 |
0.0 |
-72.4 |
-0.1 |
-90.9 |
|
Sale of Treasury |
0.0 |
0.0 |
0.0 |
0.0 |
0.4 |
|
Dividend Paid |
-50.8 |
-72.5 |
-50.5 |
-46.9 |
-87.4 |
|
Minority Dividends |
-0.2 |
-0.2 |
-0.2 |
-0.1 |
-0.2 |
|
Repayment of lease obligation |
-5.9 |
-5.6 |
-5.2 |
-9.2 |
-6.3 |
|
Other |
- |
- |
0.0 |
-1.1 |
-0.1 |
|
Cash from Financing Activities |
-138.7 |
431.8 |
-107.8 |
-406.0 |
204.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
38.7 |
-7.2 |
-15.3 |
-6.8 |
-24.9 |
|
Net Change in Cash |
-259.3 |
146.9 |
149.9 |
-39.4 |
148.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,259.3 |
1,176.3 |
934.1 |
900.6 |
684.6 |
|
Net Cash - Ending Balance |
1,000.0 |
1,323.3 |
1,084.0 |
861.2 |
833.0 |
|
Cash Interest Paid |
4.3 |
4.1 |
3.2 |
6.7 |
3.8 |
|
Cash Taxes Paid |
-21.1 |
152.7 |
79.1 |
-36.7 |
117.8 |
|
Except for share items (millions) and per share items (actual units) |
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.84.82 |
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.