MIRA
INFORM REPORT
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Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SUMITOMO CHEMICAL CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
01.06.1925 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
manufacturer and sale of inorganic and organic industrial
chemicals, optical materials, polymer alloys, polymer additives, and
petrochemical products. |
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No. of Employees : |
30,396 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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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Japan |
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 |
japan ECONOMIC OVERVIEW
In the years following
World War II, government-industry cooperation, a strong work ethic, mastery of
high technology, and a comparatively small defense allocation (1% of GDP)
helped Japan develop a technologically advanced economy. Two notable
characteristics of the post-war economy were the close interlocking structures
of manufacturers, suppliers, and distributors, known as keiretsu, and the
guarantee of lifetime employment for a substantial portion of the urban labor
force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. For three decades, overall real economic growth
had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s,
and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging
just 1.7%, largely because of the after effects of inefficient investment and
an asset price bubble in the late 1980s that required a protracted period of
time for firms to reduce excess debt, capital, and labor. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan into recession. Government stimulus
spending helped the economy recover in late 2009 and 2010, but the economy
contracted again in 2011 as the massive 9.0 magnitude earthquake and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 stood as the fourth-largest economy in the world after second-place
China, which surpassed Japan in 2001, and third-place India, which edged out
Japan in 2012. The new government will continue a longstanding debate on
restructuring the economy and reining in Japan's huge government debt, which
exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth,
and an aging and shrinking population are other major long-term challenges for
the economy.
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Source : CIA |
Company name & address
Sumitomo Chemical Co Ltd
Tokyo Sumitomo Twin Bldg.(East)
2-27-1, Shinkawa
Chuo-Ku, 104-8260
Japan
Tel: 81-3-55435500
Fax: 81-3-55435901
synthesis
Employees: 30,396
Company Type: Public Parent
Corporate Family: 128
Companies
Traded: Tokyo
Stock Exchange: 4005
Incorporation Date:
01-Jun-1925
Auditor: KPMG AZSA LLC
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2013
Reporting Currency: Japanese
Yen
Annual Sales: 23,532.4 1
Net Income:
(615.6)
Total Assets:
26,274.1 2
Market Value:
5,257.5 (28-Jun-2013)
Business Description
SUMITOMO CHEMICAL COMPANY, LIMITED is a Japan-based manufacturer that has six business segments: Basic Chemical, such as the manufacture and sale of inorganic and organic chemicals, synthetic fiber materials, metal acrylate, alumina products and others; Petrochemical, including the provision of petrochemical, synthetic resin, rubber products and others; Information and Electronic Chemical, including the supply of optical goods, color filters, semiconductors processing materials, and electronic materials and others; Health and Agriculture-related, such as the manufacture and sale of agrochemicals, fertilizers, agricultural materials, pesticide, dietary additives and others; Medical Products, including the provision of medical products and radioactive diagnostic products, and Others, encompassing the supply of vapor and electric power, the design of industrial chemical facilities, as well as the transportation and warehouse businesses. For the fiscal year ended 31 March 2013, Sumitomo Chemical Co Ltd revenues increased less than 1% to Y1.952T. Net loss totaled Y51.08B vs. income of Y5.59B. Revenues reflect Petrochemicals segment increase of 3% to Y693.86B, Electrochemical Information segment increase of 2% to Y299.97B, Others segment increase of 1% to Y53.97B, also reflect Basic Chemicals segment decrease of 7% to Y263.52B, Pharmaceuticals segment decrease of 1% to Y378.6B.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1812 - Basic
Organic Chemical Manufacturing
NACE 2002: 2414 - Manufacture
of other organic basic chemicals
NAICS 2002: 32511 -
Petrochemical Manufacturing
UK SIC 2003: 2414 - Manufacture
of other organic basic chemicals
UK SIC 2007: 2014 - Manufacture
of other organic basic chemicals
US SIC 1987: 2869 - Industrial
Organic Chemicals, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Masakazu Tokura |
President |
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Keigo Sasaki |
Director of Accounting Office |
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Tsutomu Konaka |
Executive Officer |
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Masataka Morimoto |
Executive Officer Logistics |
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Takao Akasaka |
Standing Corporate Auditor |
Significant Developments
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* number of significant developments within the last 12 months
Financial Summary
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Stock Snapshot
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Business
Description
SUMITOMO CHEMICAL
COMPANY, LIMITED is a Japan-based manufacturer that has six business segments: Basic
Chemical, such as the manufacture and sale of inorganic and organic chemicals,
synthetic fiber materials, metal acrylate, alumina products and others;
Petrochemical, including the provision of petrochemical, synthetic resin,
rubber products and others; Information and Electronic Chemical, including the
supply of optical goods, color filters, semiconductors processing materials,
and electronic materials and others; Health and Agriculture-related, such as
the manufacture and sale of agrochemicals, fertilizers, agricultural materials,
pesticide, dietary additives and others; Medical Products, including the
provision of medical products and radioactive diagnostic products, and Others,
encompassing the supply of vapor and electric power, the design of industrial
chemical facilities, as well as the transportation and warehouse businesses.
For the fiscal year ended 31 March 2013, Sumitomo Chemical Co Ltd revenues
increased less than 1% to Y1.952T. Net loss totaled Y51.08B vs. income of
Y5.59B. Revenues reflect Petrochemicals segment increase of 3% to Y693.86B,
Electrochemical Information segment increase of 2% to Y299.97B, Others segment
increase of 1% to Y53.97B, also reflect Basic Chemicals segment decrease of 7%
to Y263.52B, Pharmaceuticals segment decrease of 1% to Y378.6B.
More Business
Descriptions
Manufacture of industrial chemicals, plastics, pharmaceuticals, aluminium, synthetic rubber, dyestuffs and fine chemicals, pesticides, electronic products
Chemical
Fertilizers, Dyestuffs, Agricultural Chemicals, Intermediates, Organic &
Inorganic Industrial Chemicals, Synthetic Resins, Finishing Resins, Synthetic
Rubber & Rubber Chemicals, Aluminium, Electronic Materials
Sumitomo Chemical
Company, Limited (SCCL) manufactures and sells chemicals. The products offered
by the company include inorganic and organic industrial chemicals, optical
materials, polymer alloys, thermo plastic elastomer, alumina products,
dyestuffs, polymer additives, agricultural insecticides and petrochemical
products. The company’s business operations are classified into six
reportable segments, namely, Basic Chemicals, Petrochemicals and Plastics,
Information Technology (IT)-related Chemicals, Health and Crop Sciences,
Pharmaceuticals and Others.The company's Basic Chemicals segment carries out
the manufacture and sale of inorganic and organic industrial chemicals,
composite materials such as alumina fiber, synthetic textile fibers, polymethyl
methacrylate resin, resorcinol, caprolactam, rubber chemicals and aluminum. The
segment caters these products to wide range of industries including consumer
goods, hi-tech industries, rubber, pharmaceuticals, paper, perfume, waste water
treatment, ceramics, automobile components, home electric appliances and
plastics. It has manufacturing facility and basic chemicals research laboratory
in Ethime, Japan. For the fiscal year ended March 2012, the company reported
revenue of JPY284,348m from the Basic Chemicals segment, reflecting a decrease
of 5.94% over revenue in 2011. The segment accounted for 14.6% of the
company’s total revenue in 2012. The Petrochemicals and Plastics segment of
the company offers petrochemical products such as organic chemicals including
ethylene and propylene; plastics such as low-density polyethylene and
polypropylene; synthetic rubber; and organic chemicals such as propylene oxide
and styrene monomers. These products are cater to housing, automotive, home
electronics, paints and coatings, automotive parts, building materials,
electrical appliances, artificial leather markets. The segment owns the
manufacturing facility and petrochemical research laboratory in Chiba, Japan.
For the fiscal year ended March 2012, the company reported revenue of
JPY672,428m from the Petrochemicals and Plastics segment, reflecting an
increase of 3.47% over revenue in 2011. The segment accounted for 34.52% of the
company’s total revenue in 2012.The company’s IT-related Chemicals segment
offers optical materials, semiconductor process materials and electronic
materials. Its optical materials include optically functional films and color
filters for liquid crystal displays used in notebook PCs, monitors, mobile
phones, digital still cameras and portable DVD players. Its semiconductor
process materials division offers high-purity chemicals for the electronics
industry and photoresists for IC manufacturing. The segment owns the
manufacturing facility in Ehime, Japan and IT-related chemicals research
laboratory in Osaka, Japan. For the fiscal year ended March 2012, the company
reported revenue of JPY293,066m from the IT-related Chemicals segment,
reflecting a decrease of 9.07% over revenue in 2011. The segment accounted for
15.05% of the company’s total revenue in 2012.The Health and Crop Sciences
segment carries out the development and supply of variety of crop protection
chemicals. These chemicals include conventional products such as insecticides,
fungicides and herbicides; and modern products such as plant growth regulators.
It also offers fertilizers, feed additives, and other products and technologies
used to enhance agricultural production; and household and public hygiene
chemicals. The segment owns manufacturing facility in Oita and Misawa, Japan;
and Health & Crop Sciences Research Laboratory in Hyogo, Japan. For the
fiscal year ended March 2012, the company reported revenue of JPY264,134m from
the Health and Crop Sciences segment, reflecting an increase of 5.31% over
revenue in 2011. The segment accounted for 13.56% of the company’s total
revenue in 2012.The company's Pharmaceuticals segment produces and markets
therapeutic agents for hypertension and angina; peripheral circulation
improvement agents; gastroprokinetic agents and carbapenem antibiotics; and
diagnostics for the discovery of cancer and chronic ailments. The segments
major brands include Avapro, Lonasen, Prorenal, Miripla, Latuda, Oncoseed and
Metastron. For the fiscal year ended March 2012, the company reported revenue
of JPY380,518m from the Pharmaceuticals segment, reflecting a decrease of 7.33%
over revenue in 2011. The segment accounted for 19.53% of the company’s total
revenue in 2012.The Others segment carries out the supply of electrical power
and steam. It provides services for the design, engineering, and construction
management of chemical plants; transport, warehousing, and environmental
analysis. The company also conducts development and sales activities in new
business fields such as polymer organic light emitting diodes. For the fiscal
year ended March 2012, the company reported revenue of JPY53,390m from the
Others segment, reflecting an increase of 14.68% over revenue in 2011. The
segment accounted for 2.74% of the company’s total revenue in 2012. The
company's research and development (R&D) activities focus on the
development of technologies required to enter new business fields, common base
technologies and next-generation products and processes. Its major subsidiaries
include Sumitomo Chemical Australia Pty. Ltd., Sumitomo Chemical Singapore Pte
Ltd., Sumitomo Chemical Takeda Agro Company, Ltd., Nihon Medi-Physics Co.,
Ltd., Sumitomo Chemical America, Inc. and Sumitomo Chemical Europe S.A.In March
2012, the company entered into new distribution agreements with Nufarm Limited
in Canada, Hungary, Romania and Ukraine. In February 2012, the company through
its the group company Sumitomo Chemical Asia PTE LTD, plans to construct new
solution styrenebutadiene rubber manufacturing facility in Singapore. In
January 2012, the company sold its stake in Chiba Styrene Monomer Limited
Company, a company’s joint venture, to Denki Kagaku Kogyo Kabushiki Kaisha.
Sumitomo Chemical
Company, Limited (SCCL) is a chemical manufacturing company. It offers a
diverse range of chemical products in the fields of basic chemicals, petrochemicals
and plastics, information technology related chemicals, agricultural chemicals,
and pharmaceuticals. The company’s product portfolio includes inorganic and
organic industrial chemicals, alumina products, optical materials, polymer
alloys, thermo plastic elastomer, dyestuffs, polymer additives, agricultural
insecticides and petrochemical products. SCCl caters its products to rubber,
paper, pharmaceuticals, waste water treatment, automobile, home electric
appliances, paints and building materials. Geographically, the company has
operations in various countries including Japan, the US, Spain, Saudi Arabia,
New Zealand, Mexico, Belgium, France, the UK, Mexico, Thailand and Brazil. SCCL
is headquartered in Tokyo, Japan.The company plans to strengthen its crop
protection chemicals business. To this end, entered into new distribution
agreements with Nufarm Limited in Canada, Hungary, Romania and Ukraine.The
company reported revenues of (Yen) JPY 1,947,884.00 million during the fiscal
year ended March 2012, a decrease of 1.74% from 2011. The operating profit of
the company was JPY 48,646.00 million during the fiscal year 2012, a decrease
of 38.86% from 2011. The net profit of the company was JPY 5,587.00 million
during the fiscal year 2012, a decrease of 77.13% from 2011.
Other Basic
Inorganic Chemical Manufacturing
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Strategic Initiatives
Partnerships
Sumitomo Chemical
America, Inc. and Sumitomo Chemical Europe S.A. In March 2012, the company entered
into new distribution agreements with Nufarm Limited in Canada, Hungary,
Romania and Ukraine. In February 2012, the company through its the group
company Sumitomo Chemical Asia PTE LTD, plans to construct new solution
styrenebutadiene rubber manufacturing facility in Singapore. In January 2012,
the company sold its stake in Chiba Styrene Monomer Limited Company, a
company’s joint venture, to Denki Kagaku Kogyo Kabushiki Kaisha. These
include primary research, in-house knowledge and expertise, proprietary
databases, and secondary sources such as company websites, annual reports, SEC
filings and press releases.
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities |
Threats |
Overview
Sumitomo Chemical
Company, Limited (SCCL) is involved in the manufacture and sale of inorganic and
organic industrial chemicals, optical materials, polymer alloys, polymer
additives, and petrochemical products. The products of the company find
application in various industries like consumer-goods, high-tech, rubber,
pharmaceuticals, paper, perfume, waste water treatment, ceramics, automobile
components, home electric appliances and plastics. SCCL has a diverse portfolio
of products which gives it a wide customer base besides reducing the business
risk of the company. The company’s exposure to intense competition could
affect its operational performance. However, strategic collaborations and
expansion initiatives could bring new business opportunities.
Strengths
Wide Market Presence
As a global
chemical company, SCCL stands to gain from changing market trends in different
countries and industries. The company has operations in nearly 25 countries
covering Europe, Americas, Africa and Asia-pacific. It has manufacturing units
in South Africa, UK, Poland, Slovakia , Brazil, the US, Singapore, China, Thailand,
Saudi Arabia, India and South Korea. Further, it operates sales hubs in Spain,
India, Italy, Belgium, France, Brazil, the US, Mexico, Australia, New Zealand
Taiwan and others. It caters pharmaceutical, agriculture, paints, consumer
goods, electronics& electrical, plastics, rubber and other sectors across
the world. Such multi-market presence gives a competitive edge to the company
over its peers.
Diversified
Product Line
SCCL's diversified
product portfolio enables the company to cater to a variety of industries as
well as minimize risks associated with single business area. The company
operates through five reportable segments, which include basic chemicals,
petrochemicals and plastics, information technology (IT)-related chemicals,
health & crop Sciences chemicals, pharmaceuticals and others. Under basic
chemical segment, it offers alumina fiber, polymethyl methacrylate resin and
sheets, and aluminum. The products of petrochemicals and plastics segment
include low-density polyethylene and polypropylene, and synthetic rubber. Its
IT related chemicals segment offers optically functional films for liquid
crystal displays, color filters, high-purity chemicals, photo resists, super-
engineering plastics and lithium ion secondary battery separator. Under health
& crop chemicals segment offers plant protection chemicals, varying from
conventional insecticides, fungicides and herbicides to new types of products,
including plant growth regulators. Under pharmaceuticals, the company
manufactures therapeutic agents for hypertension and angina; peripheral
circulation improvement agents; gastroprokinetic agents; and diagnostics for
the discovery of cancer and chronic ailments. The others segment of the company
supplies electrical power and steam besides providing services for the design,
engineering, and construction management of chemical plants, and conducting
materials and environmental analysis.
Focused Research and Development
SCCL's strong
focus on research and development (R&D) enables it to introduce new products
in the market and maintain its competitiveness. Its R&D activities are
focused on developing new products and core basic technologies. The core
technologies of the company include fine polymer processing, catalysts,
functional design of polymers, functional dyes and pigments, control of
crystalline structures, sintering, biotechnology, and chiral synthesis. The
company combines these core technologies to produce technological
breakthroughs. Currently, SCCL is focusing on three domains, which include life
sciences, IT-related electronic chemicals and catalysts. The company owns five
research laboratories and five corporate labs. Its research laboratories
include Basic Chemicals Research Laboratory, Petrochemicals Research
Laboratory/Plastics Technical Center, Fine Chemicals Research Laboratory,
IT-Related Chemicals Research Laboratory, and Agricultural Chemicals Research
Laboratory. The corporate labs of the company are Process and Production
Technology Center, Organic Synthesis Research Laboratory, Environmental Health
Science Laboratory, Tsukuba Research Laboratory, and Genomic Science
Laboratories. It has nearly 2,300 domestic patent pending applications. For the
fiscal year 2012, the company spent JPY118,481m on its research and development
activities. A strong focus on the R&D enables the company to regularly come
out with new products in the market to serve the ever changing needs of its
customers.
Weaknesses
Decrease in Cash Position
SCCL reported a decrease
in the cash and cash equivalents in fiscal year ended March 2012. The company
had JPY68,601m in cash and equivalents in 2012, compared to cash and
equivalents of JPY 83,746m in 2011, reflecting a decrease of 18%. The decrease
in cash reserves was principally due to the drastic decrease in cash flows from
operating activities. As a result, the company recorded negative net change in
cash of JPY 399m during 2012, compared to a net change in cash of JPY30,563m in
2011. The decreasing cash reserves indicate the company’s inability to incur
additional debt to finance acquisitions, business opportunities, capital
expenditure or other capital requirements in the future.
Opportunities
Positive Outlook of Petrochemical Industry
SCCL could be
benefited from the potential global petrochemicals market. According to the
in-house research reports, the global petrochemicals industry was valued at
$733.4 billion, and it is expected to grow at a rate of 8.8% to reach $1699
billion by 2020. Global market for polyethylene is expected to reach $186
billion in 2020. In addition, total world market for polypropylene is expected
to grow at a rate of 8.4% during 2010-2020 to reach $109.1 billion. Such growth
in petrochemical sector is expected to be driven by Asia Pacific, and Middle
East and Africa regions. Petrochemicals demand in Middle East and Africa is
expected to grow at a rate of 11.2% from 2010 through 2012. Asia Pacific’s
petrochemicals market is expected to register CAGR of 10.2% during 2010-2020 to
reach $1070 billion. Such a strong outlook of the petrochemical industry could
help SCCL expand its geographic operations and explore untapped markets to
bolster top-line growth.
Expansion Initiatives
Expansion of
operations allows the company to enhance its presence in the leading and
developing markets. In February 2012, the company started the construction of
Styrene-butadiene rubber (S-SBR) manufacturing plant in Singapore. It is
scheduled for completion in June 2013. The company also has plans to construct
a new plant for the production of aluminum titanate diesel particulate filters
(DPF) in Poland. SCCL plans to establish an operational base for polypropylene
(PP) compounds in Dalian, Liaoning Province, China through a new company. The
new company, Sumika Polymer Compounds Dalian Co., Ltd. is a joint venture of
the company with Zhuhai Sumika Polymer Compounds Co., Ltd. Through this
expansion, the company strengthens its PP business in China. In May 2011, the
company started the construction of a new manufacturing facility for
next-generation touch screen panels in Korea. SCCL intends to invest KRW250
billion in the construction of this facility. In April 2011, the company’s
subsidiary, Valent BioSciences Corporation announced its plan to construct a
new state-of-the-art fermentation manufacturing facility in Osage, Iowa. Such
expansion plans contribute to the overall growth of the company.
Strategic Collaborations
SCCL entered into
numerous agreements to enhance its customer base. In March 2012, the company formed
new distribution arrangements with Nufarm Limited for Canada and European
countries including Hungary, Romania and Ukraine In December 2011, the company
collaborated with Germany-based Nabaltec AG, a leading specialty chemical
manufacturer in Europe and the United States, in Alumina and Aluminum
Trihydroxide (ATH) business areas. Through this additional supply, the company
intends to meet the growing demand Aluminum Trihydroxide (ATH). In August 2011,
the company formed a joint venture in association with China-based Jilin
Xindongtai Engineering Plastics Co., Ltd. (Xindongtai), for the manufacture and
sale of polypropylene (PP) compounds for automotive applications The company
entered into an agreement to establish a joint venture in Korea with Samsung
LED Co., Ltd. for the research and development, manufacture and sales of LED
Sapphire Substrates in March 2011. Through this joint venture both the
companies intend to expand their businesses in the area of LEDs. Also, the
company and Nufarm Limited entered into a framework agreement to develop new
formulations and mixtures of crop protection products from both companies.
Increasing Demand for LCD Products
SCCL is likely to
benefit from the increased demand for polyolefins and flat panel displays,
which is increasing mainly because of the strong growth in Asian markets,
primarily China. The policies adopted by the different countries for
stimulating demand have also positively impacted the demand for LCD materials
which have started showing signs of recovery since the beginning of this year.
Examples of such policies include Japan's "eco-point system" and
China's policy of "spreading electric appliances into agricultural
households by providing subsidies". It is expected that the global demand
for LEDs is set to grow further and is anticipated to grow at 20% annually.
According to in-house research, the global market for LED TVs is expected to
increase 50 times to reach more than 200 million units in 2014. SCCL has
positioned polarizing film and other liquid crystal display (LCD)-related
materials as the core business of the IT-related Chemicals Sector of the
company. The company produces polarizing film, which forms a key material of
LCDs. In the rapidly growing field of advanced LCD technology, the company has
developed various types of color filters catering to a wide variety of needs,
such as the VA (Vertical Alignment) type and the IPS (In Plate Switching) type,
which allow wide viewing angles, in addition to TN (Twist Nematic) type color
filters. A diverse range of applications are served by these materials like
displays for notebook PCs, monitors, small- and medium-size mobile phones,
digital still cameras, and portable DVD players.
Threats
Challenge of Environmental Regulations
The company could
be affected by the regulations governing the global chemical industry. SCCL’s
operations are subject to Industrial Safety and Health Law (ISHL), Japanese
Chemical Substances Control Law (CSCL), Strategic Approach to International
Chemicals Management (SAICM ) and Poisonous and Deleterious Substance Control
Law (PDSCL). It is also subject to environmental regulations such as REACH
(Registration Evaluation and Authorization of Chemicals), in Europe, is an
example of the stringent environmental regulations that impact chemical
producers. REACH regulates the products manufactured and marketed in Europe.
Such regulations could impede the launch of new products as the process is
time-consuming and expensive. It may also result in phasing out many existing
chemicals from the market, which are regarded as toxic and hazardous. REACH
applies directly to over 30,000 different chemical substances that are produced
or sold in Europe and its implementation is expected to cost European chemical
industry about $3 billion. Other countries too are expected to model their
regulations on the principles of REACH. The US already began implementing
similar regulations with the reform of Toxic Substances Control Act. China has
its own version: RoHS (Restriction of Hazardous Substances), which restricts
the use of certain chemicals in the market. Such tough environmental
regulations are expected to become more stringent in the future, affecting both
the existing and new products of the company.
Competitive
Pressures
SCCL's business
operations face intense competition from both domestic and foreign chemical
manufacturers, which may have a negative impact on its performance. Increased
competition may lead the company to reduce its prices, which could negatively
affect its margins. The company operates in a progressively more complex and
challenging chemical marketplace whose dynamics is ever-changing. Technological
advances by any player in the market could render its present or future
products obsolete or uneconomical. Its key competitors include Mitsui
Chemicals, Inc., Takeda Pharmaceutical Company, LG Chem, Hanwha Chemical
Corporation and others. The company competes in this evolving marketplace on
the basis of many factors, including price, quality, innovation, service,
reputation, distribution and promotion.
Earthquakes and
Other Natural Disasters
SCCL’s key
market and manufacturing base is Japan which is prone to several natural
disasters like earthquakes, typhoons, tsunamis, and volcanic activities. It
operates both manufacturing units and laboratories in Chiba, Shikoku, Osaka,
and Ohe, which have witnessed a high magnitude of earthquakes in 2011. The
company's facilities are also vulnerable to accidents, fires, and other crisis.
Any major earthquake in future could cause shutdown of or damage to the
company’s facilities. Such events could interrupt the company's manufacturing
activities, damage equipment, disrupt access to water and electricity, and
cause many problems that could have significant effect on business and
operating results. The threat is higher from the frequency of earthquakes. Even
then, the precautionary measures employed may not be successful in major
disasters. The company needs to scatter its operations over relatively safer
geographical locations to ensure uninterrupted business operations.
|
Corporate
Family |
Corporate
Structure News: |
|
|
Sumitomo
Chemical Co Ltd |
|
Sumitomo Chemical Co Ltd |
|
|
|
|
|
Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Chuo-Ku |
Japan |
Chemical Manufacturing |
23,532.4 |
30,396 |
|
|
Subsidiary |
Osaka-Shi |
Japan |
Biotechnology and Drugs |
4,190.9 |
7,218 |
|
|
Subsidiary |
Marlborough, MA |
United States |
Biotechnology and Drugs |
|
2,400 |
|
|
Subsidiary |
Windsor, NS |
Canada |
Biotechnology and Drugs |
|
33 |
|
|
Subsidiary |
Norwood, MA |
United States |
Biotechnology and Drugs |
|
8 |
|
|
Subsidiary |
Osaka |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
San Diego, CA |
United States |
Biotechnology and Drugs |
|
|
|
|
Subsidiary |
Suzhou |
China |
Biotechnology and Drugs |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Healthcare Facilities |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Investment Services |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Biotechnology and Drugs |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Biotechnology and Drugs |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Fish and Livestock |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Biotechnology and Drugs |
|
|
|
|
Subsidiary |
Iksan-si, Jeollabuk-do |
Korea, Republic of |
Chemical Manufacturing |
1,941.8 |
2,587 |
|
|
Subsidiary |
Marlborough, MA |
United States |
Biotechnology and Drugs |
|
2,400 |
|
|
Branch |
Fort Lee, NJ |
United States |
Biotechnology and Drugs |
129.5 |
130 |
|
|
Unit |
Niihama, Ehime |
Japan |
Chemical Manufacturing |
|
1,400 |
|
|
Subsidiary |
Osaka |
Japan |
Business Services |
187.3 |
1,095 |
|
|
Subsidiary |
Singapore |
Singapore |
Business Services |
1.6 |
10 |
|
|
Subsidiary |
Ichihara, Chiba |
Japan |
Business Services |
|
800 |
|
|
Joint Venture |
Invercargill |
New Zealand |
Chemical Manufacturing |
291.3 |
750 |
|
|
Subsidiary |
Osaka-Shi |
Japan |
Chemical Manufacturing |
207.4 |
394 |
|
|
Subsidiary |
Chennai, Tamil Nadu |
India |
Chemical Manufacturing |
2.3 |
26 |
|
|
Affiliates |
Amagasaki-Shi |
Japan |
Chemical Manufacturing |
281.8 |
356 |
|
|
Subsidiary |
Oita, Oita |
Japan |
Chemical Manufacturing |
2.3 |
|
|
|
Subsidiary |
Osaka-Shi |
Japan |
Chemical Manufacturing |
219.6 |
342 |
|
|
Subsidiary |
Singapore |
Singapore |
Chemicals - Plastics and Rubber |
1,332.1 |
323 |
|
|
Joint Venture |
Osaka |
Japan |
Chemicals - Plastics and Rubber |
|
300 |
|
|
Subsidiary |
Niihama, Ehime |
Japan |
Fabricated Plastic and Rubber |
83.6 |
90 |
|
|
Subsidiary |
Osaka |
Japan |
Chemical Manufacturing |
|
300 |
|
|
Subsidiary |
Singapore |
Singapore |
Chemical Manufacturing |
720.2 |
254 |
|
|
Subsidiary |
Singapore |
Singapore |
Chemical Manufacturing |
446.1 |
200 |
|
|
Subsidiary |
Chiba |
Japan |
Engineering Consultants |
|
205 |
|
|
Subsidiary |
Singapore |
Singapore |
Business Services |
9.9 |
45 |
|
|
Subsidiary |
Osaka |
Japan |
Chemical Manufacturing |
|
200 |
|
|
Facility |
Kurashiki, Okayama |
Japan |
Chemical Manufacturing |
|
190 |
|
|
Subsidiary |
Cambridge |
United Kingdom |
Business Services |
15.1 |
173 |
|
|
Subsidiary |
Cambridge |
United Kingdom |
Biotechnology and Drugs |
14.4 |
173 |
|
|
UK Branch/Trading address |
Huntingdon |
United Kingdom |
Biotechnology and Drugs |
14.4 |
300 |
|
|
Subsidiary |
Cambridge |
United Kingdom |
Biotechnology and Drugs |
0.8 |
|
|
|
Subsidiary |
London |
United Kingdom |
Business Services |
|
|
|
|
Subsidiary |
Cambridge |
United Kingdom |
Business Services |
|
|
|
|
Subsidiary |
Marlborough, MA |
United States |
Biotechnology and Drugs |
|
130 |
|
|
Subsidiary |
Walnut Creek, CA |
United States |
Chemical Manufacturing |
135.8 |
120 |
|
|
Subsidiary |
Tokyo |
Japan |
Containers and Packaging |
|
120 |
|
|
Subsidiary |
Kaohsiung |
Taiwan |
Miscellaneous Fabricated Products |
|
120 |
|
|
Subsidiary |
Osaka |
Japan |
Chemical Manufacturing |
|
90 |
|
|
Subsidiary |
Milan |
Italy |
Chemical Manufacturing |
115.3 |
89 |
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
|
84 |
|
|
Subsidiary |
Saint Didier au Mont d'Or |
France |
Chemical Manufacturing |
88.7 |
77 |
|
|
Subsidiary |
Osaka |
Japan |
Business Services |
|
70 |
|
|
Subsidiary |
Ho Chi Minh City |
Viet Nam |
Chemical Manufacturing |
|
70 |
|
|
Subsidiary |
Minneapolis, MN |
United States |
Chemical Manufacturing |
36.6 |
60 |
|
|
Subsidiary |
Osaka |
Japan |
Chemicals - Plastics and Rubber |
|
60 |
|
|
Subsidiary |
Hefei, Anhui |
China |
Chemical Manufacturing |
3.8 |
50 |
|
|
Subsidiary |
Dusseldorf |
Germany |
Chemical Manufacturing |
|
50 |
|
|
Subsidiary |
Machelen (Bt.) |
Belgium |
Chemical Manufacturing |
511.6 |
47 |
|
|
Subsidiary |
Shanghai |
China |
Chemical Manufacturing |
|
48 |
|
|
Subsidiary |
Barcelona |
Spain |
Chemical Manufacturing |
35.9 |
47 |
|
|
Subsidiary |
Griffin, GA |
United States |
Chemicals - Plastics and Rubber |
2.4 |
45 |
|
|
Subsidiary |
Tokyo |
Japan |
Containers and Packaging |
|
40 |
|
|
Subsidiary |
Saint Didier au Mont d'Or |
France |
Chemical Manufacturing |
89.5 |
34 |
|
|
Subsidiary |
Seremban, Negeri Sembilan |
Malaysia |
Chemical Manufacturing |
10.2 |
30 |
|
|
Subsidiary |
Mumbai, Maharashtra |
India |
Chemical Manufacturing |
|
30 |
|
|
Subsidiary |
Sao Paulo, Sao Paulo |
Brazil |
Chemical Manufacturing |
11.5 |
27 |
|
|
Subsidiary |
Osaka |
Japan |
Chemical Manufacturing |
|
27 |
|
|
Subsidiary |
Phoenix, AZ |
United States |
Semiconductors |
3.9 |
25 |
|
|
Subsidiary |
Epping, NSW |
Australia |
Chemical Manufacturing |
2.1 |
24 |
|
|
Subsidiary |
Tokyo |
Japan |
Electronic Instruments and Controls |
|
20 |
|
|
Subsidiary |
Singapore |
Singapore |
Chemical Manufacturing |
1,819.8 |
16 |
|
|
Subsidiary |
London |
United Kingdom |
Chemical Manufacturing |
34.3 |
16 |
|
|
Subsidiary |
London |
United Kingdom |
Business Services |
0.4 |
12 |
|
|
Subsidiary |
London |
United Kingdom |
Biotechnology and Drugs |
4.9 |
15 |
|
|
Subsidiary |
New York, NY |
United States |
Chemical Manufacturing |
|
13 |
|
|
Subsidiary |
Pretoria |
South Africa |
Chemical Manufacturing |
|
12 |
|
|
Subsidiary |
Taipei |
Taiwan |
Business Services |
|
3 |
|
|
Subsidiary |
Singapore |
Singapore |
Insurance (Accident and Health) |
|
3 |
|
|
Subsidiary |
Tainan |
Taiwan |
Scientific and Technical Instruments |
567.0 |
|
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Electronic Instruments and Controls |
117.1 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Software and Programming |
115.3 |
|
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Fabricated Plastic and Rubber |
110.5 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Chemicals - Plastics and Rubber |
86.2 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Paper and Paper Products |
71.7 |
|
|
|
Subsidiary |
Kudamatsu, Yamaguchi |
Japan |
Chemical Manufacturing |
67.5 |
|
|
|
Subsidiary |
Oita, Oita |
Japan |
Business Services |
18.4 |
|
|
|
Subsidiary |
Osaka |
Japan |
Chemicals - Plastics and Rubber |
|
|
|
|
Subsidiary |
Samut Prakan |
Thailand |
Chemicals - Plastics and Rubber |
|
|
|
|
Subsidiary |
Niihama, Ehime |
Japan |
Electric Utilities |
|
|
|
|
Subsidiary |
Niihama, Ehime |
Japan |
Construction Services |
50.8 |
|
|
|
Subsidiary |
Bangkok |
Thailand |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Shenzhen |
China |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Zhuhai, Guangdong |
China |
Chemical Manufacturing |
|
|
|
|
Unit |
Ichihara, Chiba |
Japan |
Chemical Manufacturing |
|
|
|
|
Facility |
Gifu |
Japan |
Chemical Manufacturing |
|
|
|
|
Unit |
Niihama, Ehime |
Japan |
Fabricated Plastic and Rubber |
|
|
|
|
Unit |
Oita |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Niihama, Ehime |
Japan |
Construction Services |
|
|
|
|
Subsidiary |
Niihama, Ehime |
Japan |
Miscellaneous Transportation |
|
|
|
|
Subsidiary |
Ichihara, Chiba |
Japan |
Water Utilities |
|
|
|
|
Subsidiary |
Niihama, Ehime |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Takarazuka, Hyogo |
Japan |
Business Services |
|
|
|
|
Facility |
Yamagata |
Japan |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Nishinomiya, Hyogo |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Investment Services |
|
|
|
|
Subsidiary |
Hong Kong |
Hong Kong |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Fukuoka |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Lysomice |
Poland |
Electronic Instruments and Controls |
|
|
|
|
Unit |
Misawa, Aomori |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Niihama, Ehime |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Shanghai |
China |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Amsterdam |
Netherlands |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Shanghai |
China |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Personal Services |
|
|
|
|
Subsidiary |
Dalian, Liaoning |
China |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Real Estate Operations |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Dalian, Liaoning |
China |
Chemical Manufacturing |
|
|
|
|
Unit |
Osaka |
Japan |
Chemical Manufacturing |
|
|
Competitors
Report
|
Company Name |
Location |
Employees |
Ownership |
|
Akzo Nobel N.V. |
Amsterdam, Netherlands |
55,590 |
Public |
|
Arkema SA |
Colombes, France |
14,000 |
Public |
|
Asahi Kasei Corporation |
Tokyo, Japan |
25,085 |
Public |
|
Bayer AG |
Leverkusen, Germany |
111,400 |
Public |
|
DENKI KAGAKU KOGYO KABUSHIKI KAISHA |
Chuo-Ku, Japan |
5,206 |
Public |
|
E I Du Pont De Nemours And Co |
Wilmington, Delaware, United States |
70,000 |
Public |
|
ExxonMobil Chemical Company |
Houston, Texas, United States |
14,000 |
Private |
|
KANEKA CORPORATION |
Osaka-Shi, Japan |
8,489 |
Public |
|
LG Chem Ltd |
Seoul, Korea, Republic of |
12,179 |
Public |
|
Mitsubishi Chemical Corporation |
Tokyo, Japan |
27,689 |
Private |
|
Mitsui Chemicals, Inc. |
Minato-Ku, Japan |
12,868 |
Public |
|
Mochida Pharmaceutical Co., Ltd. |
Shinjuku-Ku, Japan |
1,730 |
Public |
|
Nippon Kayaku Co Ltd |
Chiyoda-Ku, Japan |
4,583 |
Public |
|
Otsuka Pharmaceutical Co Ltd |
Tokyo, Japan |
5,701 |
Private |
|
Sekisui Chemical Co., Ltd. |
Minato-Ku, Japan |
22,202 |
Public |
|
Takeda Pharmaceutical Company Limited |
Osaka-Shi, Japan |
30,481 |
Public |
|
Tosoh Corporation |
Minato-Ku, Japan |
11,268 |
Public |
|
Ube Industries, Ltd. |
Minato-Ku, Japan |
11,090 |
Public |
|
Unitika Ltd |
Osaka-Shi, Japan |
4,534 |
Public |
Executive report
|
Board of
Directors |
|
|
|
|
|||||||||
|
Chairman of the Board, Executive Officer, President of Subsidiary,
Representative Director |
Chairman |
|
|||||||||
|
||||||||||||
|
Vice Chairman |
Vice-Chairman |
|
|
||||||||
|
||||||||||||
|
Vice Chairman of the Board, Executive Officer, Representative Director |
Vice-Chairman |
|
|
||||||||
|
||||||||||||
|
Senior Managing Executive Officer, Representative Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Senior Managing Executive Officer-Health & Corporate Sciences
Sector |
Director/Board Member |
|
|
||||||||
|
Senior Managing Executive Officer-Basic Chemicals Sector |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer, Representative Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer, President and Chairman of Subsidiaries,
Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Senior Managing Executive Officer, Representative Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Executive Vice President, Representative Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Executives |
|
|
|
|
|||||||||
|
President |
President |
|
|||||||||
|
||||||||||||
|
Senior Managing Executive Officer, Representative Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Executive Officer, President of Subsidiaries |
Division Head Executive |
|
|
||||||||
|
Vice Chairman of the Board, Executive Officer, Representative Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer, President of Subsidiary |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer, Director of Information Electronic Chemical
Operation Office |
Division Head Executive |
|
|
||||||||
|
Executive Officer, Ehime Plant Manager |
Division Head Executive |
|
|
||||||||
|
Executive Officer, Director of Tsukuba Development and Research
Institute |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer, Representative Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer, Director of Agro Business |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer, President and Chairman of Subsidiaries,
Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Senior Managing Executive Officer, Representative Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer, Director of Secretary |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer |
Division Head Executive |
|
|
||||||||
|
Executive Officer |
Division Head Executive |
|
|
||||||||
|
Managing Executive Officer, Director of Main Rabigh Project Promotion
Unit |
Division Head Executive |
|
|
||||||||
|
Chairman of the Board, Executive Officer, President of Subsidiary,
Representative Director |
Division Head Executive |
|
|
||||||||
|
||||||||||||
|
Senior Managing Executive Officer-Health
& Corporate Sciences Sector |
Managing Director |
|
|
||||||||
|
Senior Managing Executive Officer-Basic
Chemicals Sector |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Executive Officer |
Administration Executive |
|
|
||||||||
|
Standing Corporate Auditor |
Accounting Executive |
|
|
||||||||
|
Corporate Auditor |
Accounting Executive |
|
|
||||||||
|
Corporate Auditor |
Accounting Executive |
|
|
||||||||
|
Standing Corporate Auditor |
Accounting Executive |
|
|
||||||||
|
Corporate Auditor |
Accounting Executive |
|
|
||||||||
|
Director of Accounting Office |
Investor Relations Executive |
|
|
||||||||
|
Executive Officer Logistics |
Logistics Executive |
|
|
||||||||
Significant Developments
TANAKA CHEMICAL CORP Announces Business and Capital Alliance with Sumitomo Chemical Co Ltd Mar 28, 2013
TANAKA CHEMICAL CORP announced that TANAKA CHEMICAL CORP and Sumitomo Chemical Co Ltd have reached an agreement to form a business and capital alliance, effective March 28, 2013. Through the business alliance, the two companies will be cooperating in the development of positive pole material of the second generation of lithium battery; the utility of manufacturing equipments; overseas sales network, among others. Through the capital alliance, The Company will issue 1,250,000 shares of its common stock, at the price of JPY 343 per share, or for JPY 428,750,000 in total, through a private placement to Sumitomo Chemical Co Ltd, effective April 15, 2013. After this, Sumitomo Chemical Co Ltd's stake in the Company will become 8.99%.
Polypore International Inc's Celgard, LLC Files Patent Infringement Lawsuit Against Sumitomo Chemical Company, Limited Feb 25, 2013
Celgard, LLC (Celgard), a subsidiary of Polypore International Inc announced that it has filed a complaint in the U.S. District Court of the Western District of North Carolina against Sumitomo Chemical Company, Limited. The complaint alleges that Sumitomo Chemical has infringed Celgard's United States Patent No. 6,432,586 issued for an invention entitled, Separator for a High Energy Rechargeable Lithium Battery. The patent in the lawsuit covers ceramic composite layer lithium-ion battery separators first developed by Celgard for high-energy rechargeable lithium-ion batteries. This lawsuit has been filed after a period in which Celgard attempted to resolve its concerns with Sumitomo Chemical over infringement of Celgard's patent. Celgard is represented by the law firm Kilpatrick Townsend & Stockton, LLP.
Sumitomo Chemical Co Ltd Lowers Full-year Consolidated Outlook and Cancels Year-end Dividend Payment for FY 2013 Feb 01, 2013
Sumitomo Chemical Co Ltd announced that it has lowered its full-year consolidated outlook for revenue from JPY 2,020,000 million to JPY 1,970,000 million, operating profit from JPY 65,000 million to JPY 50,000 million, ordinary profit from JPY 62,000 million to JPY 45,000 million, net profit (loss) from JPY 10,000 million to JPY (50,000 million), and earnings (loss) per share from JPY 6.12 to JPY (30.59), for the fiscal year ending March 31, 2013. The Company lowered its full-year consolidated outlook mainly due to the decrease in demands in petrochemical area and extraordinary losses caused by impairment loss on fixed assets. According to I/B/E/S Estimates, analysts on average are expecting the Company to report its full-year consolidated outlook for revenue of JPY 1,978,640 million, operating profit of JPY 59,650 million and net profit of JPY 7,410 million, for the same fiscal year. The Company also has canceled its year-end dividend payment, which was announced as an undetermined value on October 31, 2012, for the same fiscal year.
Sumitomo Chemical Co Ltd Lowers Consolidated Full-year Outlook and
Amends Year-end Dividend Outlook for FY Ending March 31, 2013 Oct 31, 2012
Sumitomo Chemical
Co Ltd announced that it has lowered its consolidated full-year outlook for
revenue from JPY 2,050,000 million to JPY 2,020,000 million, operating profit
from JPY 80,000 million to JPY 65,000 million, ordinary profit from JPY 75,000
million to JPY 62,000 million, net profit from JPY 30,000 million to JPY 10,000
million and earning per share from JPY 18.35 to JPY 6.12 for the fiscal year
ending March 31, 2013. The Company also amended its year-end dividend outlook
from JPY 3.00 per share, which was announced May 10, 2012, to an undetermined
value, for the same fiscal year.
Sumitomo Chemical
Co Ltd to Establish Joint Venture with SUMITOMO CORP and Renaissance Energy Research-
CNT News Oct 16, 2012
CNT News reported that Sumitomo Chemical Co Ltd, SUMITOMO CORP and
Renaissance Energy Research will establish a joint venture in Tokyo, Japan,
which will be engaged in the CO2 separation business capitalized at JPY 800
million, in 2012. Sumitomo Chemical Co Ltd, SUMITOMO CORP and Renaissance
Energy Research will hold a 47.5% stake, a 47.5% stake and a 5% stake in the
joint venture, respectively.
R&I Downgrades Rating on Sumitomo Chemical Co Ltd to "A-"; Rating Outlook Stable Aug 23, 2012
Rating and Investment Information, Inc. (R&I) announced that it has downgraded the rating on Sumitomo Chemical Co Ltd from "A" to "A-". The rating outlook is stable.
Sumitomo Chemical Co., Ltd. Lowers Consolidated Mid-year and Full-year Outlook for FY Ending March 31, 2013 Jul 31, 2012
Sumitomo Chemical Co., Ltd. announced that it has lowered its consolidated mid-year outlook for revenue from JPY 1,050,000 million to JPY 990,000 million, operating profit from JPY 30,000 million to JPY 27,000 million, ordinary profit from JPY 26,000 million to JPY 18,000 million, net profit from JPY 10,000 million to JPY 0 million and earning per share from JPY 6.12 to JPY 0.00 for the fiscal year ending March 31, 2013. The Company also lowered its consolidated full-year outlook for revenue from JPY 2,230,000 million to JPY 2,050,000 million, operating profit from JPY 90,000 million to JPY 80,000 million, ordinary profit from JPY 95,000 million to JPY 75,000 million, net profit from JPY 40,000 million to JPY 30,000 million and earning per share from JPY 24.47 to JPY 18.35 for the same fiscal year. This is due to the increased raw material prices, as well as the decreased sale of healthy, agriculture, oil chemical and information electronic chemical related businesses. According to I/B/E/S Estimates, analysts on average are expecting the Company to report full-year revenue of JPY 2,103.21 billion and net profit of JPY 34.09 billion.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
23,532.4 |
24,668.9 |
23,134.6 |
17,440.2 |
17,796.0 |
|
Revenue |
23,532.4 |
24,668.9 |
23,134.6 |
17,440.2 |
17,796.0 |
|
Total Revenue |
23,532.4 |
24,668.9 |
23,134.6 |
17,440.2 |
17,796.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
17,470.7 |
17,964.1 |
16,448.8 |
12,829.0 |
14,058.0 |
|
Cost of Revenue, Total |
17,470.7 |
17,964.1 |
16,448.8 |
12,829.0 |
14,058.0 |
|
Gross Profit |
6,061.7 |
6,704.8 |
6,685.8 |
4,611.2 |
3,738.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
1,746.9 |
1,846.3 |
1,691.8 |
1,206.7 |
1,175.8 |
|
Labor & Related Expense |
1,464.8 |
1,604.0 |
1,465.3 |
1,077.7 |
858.2 |
|
Advertising Expense |
420.9 |
518.4 |
447.4 |
278.7 |
223.5 |
|
Total Selling/General/Administrative Expenses |
3,632.6 |
3,968.6 |
3,604.5 |
2,563.1 |
2,257.5 |
|
Research & Development |
1,468.5 |
1,500.5 |
1,561.8 |
1,228.4 |
1,265.7 |
|
Depreciation |
418.1 |
467.1 |
493.0 |
219.7 |
193.8 |
|
Amortization of Acquisition Costs |
- |
- |
- |
46.3 |
- |
|
Depreciation/Amortization |
418.1 |
467.1 |
493.0 |
266.1 |
193.8 |
|
Restructuring Charge |
129.9 |
80.5 |
47.5 |
28.7 |
87.6 |
|
Litigation |
13.1 |
- |
- |
- |
- |
|
Impairment-Assets Held for Use |
275.7 |
45.5 |
37.9 |
0.0 |
207.5 |
|
Impairment-Assets Held for Sale |
56.7 |
- |
- |
0.0 |
41.2 |
|
Other Unusual Expense (Income) |
-18.5 |
26.5 |
12.6 |
16.9 |
-157.5 |
|
Unusual Expense (Income) |
456.9 |
152.5 |
97.9 |
45.6 |
178.8 |
|
Total Operating Expense |
23,446.7 |
24,052.8 |
22,206.1 |
16,932.2 |
17,953.8 |
|
|
|
|
|
|
|
|
Operating Income |
85.6 |
616.1 |
928.5 |
508.0 |
-157.7 |
|
|
|
|
|
|
|
|
Interest Expense - Non-Operating |
-156.1 |
-157.0 |
-151.9 |
-129.9 |
-122.1 |
|
Interest Expense, Net Non-Operating |
-156.1 |
-157.0 |
-151.9 |
-129.9 |
-122.1 |
|
Interest Income -
Non-Operating |
23.6 |
22.5 |
23.2 |
24.2 |
28.0 |
|
Investment Income - Non-Operating |
214.4 |
-151.7 |
104.0 |
74.0 |
-197.3 |
|
Interest/Investment Income - Non-Operating |
238.0 |
-129.2 |
127.3 |
98.2 |
-169.3 |
|
Interest Income (Expense) - Net Non-Operating Total |
81.9 |
-286.2 |
-24.6 |
-31.7 |
-291.4 |
|
Gain (Loss) on Sale of Assets |
0.0 |
18.3 |
0.0 |
11.6 |
9.8 |
|
Other Non-Operating Income (Expense) |
-18.8 |
-44.9 |
-20.5 |
-43.5 |
-45.7 |
|
Other, Net |
-18.8 |
-44.9 |
-20.5 |
-43.5 |
-45.7 |
|
Income Before Tax |
148.8 |
303.3 |
883.4 |
444.3 |
-485.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
635.7 |
105.1 |
406.6 |
122.0 |
-15.9 |
|
Income After Tax |
-487.0 |
198.2 |
476.7 |
322.3 |
-469.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-128.6 |
-127.4 |
-191.6 |
-163.9 |
-119.6 |
|
Net Income Before Extraord Items |
-615.6 |
70.8 |
285.1 |
158.4 |
-588.8 |
|
Net Income |
-615.6 |
70.8 |
285.1 |
158.4 |
-588.8 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-615.6 |
70.8 |
285.1 |
158.4 |
-588.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-615.6 |
70.8 |
285.1 |
158.4 |
-588.8 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
1,634.6 |
1,634.7 |
1,644.2 |
1,650.9 |
1,650.9 |
|
Basic EPS Excl Extraord Items |
-0.38 |
0.04 |
0.17 |
0.10 |
-0.36 |
|
Basic/Primary EPS Incl Extraord Items |
-0.38 |
0.04 |
0.17 |
0.10 |
-0.36 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-615.6 |
70.8 |
285.1 |
158.4 |
-588.8 |
|
Diluted Weighted Average Shares |
1,634.6 |
1,634.7 |
1,644.2 |
1,650.9 |
1,650.9 |
|
Diluted EPS Excl Extraord Items |
-0.38 |
0.04 |
0.17 |
0.10 |
-0.36 |
|
Diluted EPS Incl Extraord Items |
-0.38 |
0.04 |
0.17 |
0.10 |
-0.36 |
|
Dividends per Share - Common Stock Primary Issue |
0.07 |
0.11 |
0.11 |
0.06 |
0.09 |
|
Gross Dividends - Common Stock |
118.3 |
186.4 |
172.4 |
106.6 |
148.0 |
|
Interest Expense, Supplemental |
156.1 |
157.0 |
151.9 |
129.9 |
122.1 |
|
Depreciation, Supplemental |
1,312.0 |
1,359.5 |
1,618.5 |
1,249.3 |
1,400.3 |
|
Total Special Items |
536.8 |
229.8 |
195.0 |
80.4 |
168.9 |
|
Normalized Income Before Tax |
685.5 |
533.0 |
1,078.4 |
524.7 |
-316.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
159.9 |
46.5 |
45.1 |
9.4 |
59.1 |
|
Inc Tax Ex Impact of Sp Items |
795.6 |
151.6 |
451.7 |
131.4 |
43.2 |
|
Normalized Income After Tax |
-110.1 |
381.4 |
626.7 |
393.3 |
-359.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-238.7 |
254.0 |
435.1 |
229.4 |
-479.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.15 |
0.16 |
0.26 |
0.14 |
-0.29 |
|
Diluted Normalized EPS |
-0.15 |
0.16 |
0.26 |
0.14 |
-0.29 |
|
Amort of Acquisition Costs, Supplemental |
79.9 |
95.5 |
97.1 |
46.3 |
- |
|
Advertising Expense, Supplemental |
420.9 |
518.4 |
447.4 |
278.7 |
223.5 |
|
Research & Development Exp, Supplemental |
1,468.5 |
1,548.4 |
1,612.1 |
1,262.4 |
1,304.9 |
|
Reported Operating Profit |
542.6 |
768.6 |
1,026.4 |
553.6 |
21.0 |
|
Reported Ordinary Profit |
605.7 |
642.3 |
981.3 |
376.1 |
-324.7 |
|
Normalized EBIT |
542.6 |
768.6 |
1,026.4 |
553.6 |
21.0 |
|
Normalized EBITDA |
1,934.4 |
2,223.6 |
2,742.0 |
1,849.2 |
1,421.3 |
|
Current Tax - Total |
213.7 |
352.2 |
- |
- |
- |
|
Current Tax - Total |
213.7 |
352.2 |
- |
- |
- |
|
Deferred Tax - Total |
422.0 |
-247.1 |
- |
- |
- |
|
Deferred Tax - Total |
422.0 |
-247.1 |
- |
- |
- |
|
Income Tax - Total |
635.7 |
105.1 |
- |
- |
- |
|
Interest Cost - Domestic |
65.1 |
68.2 |
62.8 |
44.9 |
40.8 |
|
Service Cost - Domestic |
126.2 |
126.4 |
115.4 |
115.4 |
107.6 |
|
Prior Service Cost - Domestic |
-6.4 |
1.4 |
-4.7 |
-3.3 |
-1.4 |
|
Expected Return on Assets - Domestic |
-65.7 |
-68.9 |
-64.6 |
-37.0 |
-38.9 |
|
Actuarial Gains and Losses - Domestic |
-25.3 |
46.4 |
156.1 |
205.5 |
-17.1 |
|
Domestic Pension Plan Expense |
93.9 |
173.5 |
264.9 |
325.4 |
91.0 |
|
Defined Contribution Expense - Domestic |
31.6 |
28.1 |
30.6 |
7.8 |
5.1 |
|
Total Pension Expense |
125.6 |
201.6 |
295.6 |
333.2 |
96.2 |
|
Discount Rate - Domestic |
1.60% |
2.10% |
2.10% |
2.10% |
1.20% |
|
Expected Rate of Return - Domestic |
2.10% |
2.10% |
2.10% |
1.20% |
1.20% |
|
Total Plan Interest Cost |
65.1 |
68.2 |
62.8 |
44.9 |
40.8 |
|
Total Plan Service Cost |
126.2 |
126.4 |
115.4 |
115.4 |
107.6 |
|
Total Plan Expected Return |
-65.7 |
-68.9 |
-64.6 |
-37.0 |
-38.9 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
94.088557 |
82.385362 |
82.88 |
93.44 |
98.77 |
|
Auditor |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
796.4 |
832.7 |
1,010.4 |
759.0 |
615.8 |
|
Short Term Investments |
919.0 |
1,240.8 |
1,159.2 |
676.0 |
369.8 |
|
Cash and Short Term Investments |
1,715.4 |
2,073.5 |
2,169.6 |
1,435.0 |
985.6 |
|
Accounts Receivable -
Trade, Gross |
4,297.4 |
4,987.6 |
4,992.4 |
4,093.3 |
2,979.8 |
|
Provision for Doubtful
Accounts |
-14.7 |
-15.0 |
-22.1 |
-21.0 |
-21.6 |
|
Trade Accounts Receivable - Net |
4,282.8 |
4,972.6 |
4,970.3 |
4,072.3 |
2,958.2 |
|
Total Receivables, Net |
4,282.8 |
4,972.6 |
4,970.3 |
4,072.3 |
2,958.2 |
|
Inventories - Finished Goods |
3,194.0 |
3,484.7 |
3,127.5 |
2,737.4 |
2,511.5 |
|
Inventories - Work In Progress |
160.4 |
156.1 |
151.9 |
208.5 |
181.4 |
|
Inventories - Raw Materials |
1,008.2 |
1,000.7 |
1,041.9 |
860.5 |
706.1 |
|
Total Inventory |
4,362.6 |
4,641.5 |
4,321.3 |
3,806.4 |
3,399.0 |
|
Deferred Income Tax - Current Asset |
488.6 |
619.2 |
640.1 |
529.3 |
350.9 |
|
Other Current Assets |
935.4 |
1,070.4 |
1,150.9 |
1,003.1 |
792.1 |
|
Other Current Assets, Total |
1,424.1 |
1,689.6 |
1,791.0 |
1,532.4 |
1,143.0 |
|
Total Current Assets |
11,784.8 |
13,377.2 |
13,252.2 |
10,846.1 |
8,485.7 |
|
|
|
|
|
|
|
|
Buildings |
6,166.6 |
6,704.5 |
6,497.3 |
5,689.6 |
5,155.1 |
|
Land/Improvements |
847.7 |
935.5 |
931.7 |
825.3 |
780.0 |
|
Machinery/Equipment |
15,206.7 |
16,188.1 |
15,696.7 |
13,652.3 |
12,270.5 |
|
Construction in
Progress |
795.9 |
817.7 |
541.3 |
556.0 |
472.6 |
|
Other Property/Plant/Equipment |
1,743.9 |
1,874.8 |
1,835.8 |
1,629.5 |
1,485.4 |
|
Property/Plant/Equipment - Gross |
24,760.8 |
26,520.6 |
25,502.8 |
22,352.7 |
20,163.6 |
|
Accumulated Depreciation |
-17,956.3 |
-19,299.9 |
-18,836.1 |
-16,125.8 |
-14,414.7 |
|
Property/Plant/Equipment - Net |
6,804.5 |
7,220.7 |
6,666.8 |
6,226.9 |
5,748.9 |
|
Goodwill, Net |
842.0 |
841.4 |
961.2 |
1,013.9 |
131.1 |
|
Intangibles, Net |
1,125.4 |
884.3 |
1,268.0 |
1,658.9 |
510.4 |
|
LT Investment - Affiliate Companies |
2,329.2 |
2,400.5 |
2,701.7 |
2,043.8 |
- |
|
LT Investments - Other |
1,906.3 |
2,047.1 |
2,169.2 |
2,249.6 |
3,894.4 |
|
Long Term Investments |
4,235.5 |
4,447.6 |
4,870.9 |
4,293.5 |
3,894.4 |
|
Note Receivable - Long Term |
621.6 |
620.4 |
624.0 |
615.3 |
614.6 |
|
Deferred Income Tax - Long Term Asset |
227.7 |
312.4 |
252.7 |
158.7 |
135.0 |
|
Other Long Term Assets |
632.5 |
662.1 |
667.4 |
699.5 |
957.4 |
|
Other Long Term Assets, Total |
860.3 |
974.5 |
920.1 |
858.2 |
1,092.3 |
|
Total Assets |
26,274.1 |
28,366.1 |
28,563.2 |
25,512.7 |
20,477.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
2,722.3 |
2,764.7 |
2,750.8 |
2,296.8 |
1,534.1 |
|
Notes Payable/Short Term Debt |
3,224.5 |
4,190.4 |
3,838.4 |
3,987.2 |
2,960.0 |
|
Current Portion - Long Term Debt/Capital Leases |
531.4 |
303.5 |
253.1 |
349.1 |
264.4 |
|
Income Taxes Payable |
89.2 |
169.9 |
186.0 |
166.9 |
134.3 |
|
Other Current Liabilities |
2,679.4 |
2,800.5 |
2,602.4 |
2,485.2 |
1,871.4 |
|
Other Current liabilities, Total |
2,768.7 |
2,970.4 |
2,788.4 |
2,652.1 |
2,005.7 |
|
Total Current Liabilities |
9,246.9 |
10,229.0 |
9,630.7 |
9,285.2 |
6,764.2 |
|
|
|
|
|
|
|
|
Long Term Debt |
7,516.1 |
8,287.2 |
8,460.7 |
6,343.7 |
4,828.3 |
|
Total Long Term Debt |
7,516.1 |
8,287.2 |
8,460.7 |
6,343.7 |
4,828.3 |
|
Total Debt |
11,272.0 |
12,781.0 |
12,552.3 |
10,680.0 |
8,052.7 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
682.7 |
206.4 |
475.2 |
311.5 |
318.9 |
|
Deferred Income Tax |
682.7 |
206.4 |
475.2 |
311.5 |
318.9 |
|
Minority Interest |
2,667.5 |
2,848.4 |
2,852.5 |
2,633.4 |
2,341.4 |
|
Reserves |
145.6 |
161.2 |
121.0 |
131.4 |
118.4 |
|
Pension Benefits - Underfunded |
327.4 |
388.4 |
355.4 |
316.4 |
299.8 |
|
Other Long Term Liabilities |
410.9 |
343.6 |
363.7 |
333.4 |
294.9 |
|
Other Liabilities, Total |
884.0 |
893.3 |
840.1 |
781.2 |
713.2 |
|
Total Liabilities |
20,997.1 |
22,464.2 |
22,259.2 |
19,355.1 |
14,966.0 |
|
|
|
|
|
|
|
|
Common Stock |
953.3 |
1,088.8 |
1,082.3 |
960.0 |
908.2 |
|
Common Stock |
953.3 |
1,088.8 |
1,082.3 |
960.0 |
908.2 |
|
Additional Paid-In Capital |
251.8 |
287.6 |
285.9 |
253.9 |
240.1 |
|
Retained Earnings (Accumulated Deficit) |
4,462.7 |
5,887.3 |
6,024.2 |
5,253.2 |
4,874.5 |
|
Treasury Stock - Common |
-93.2 |
-106.4 |
-105.5 |
-29.5 |
-27.9 |
|
Unrealized Gain (Loss) |
683.2 |
643.9 |
648.3 |
625.5 |
501.7 |
|
Translation Adjustment |
-988.7 |
-1,907.6 |
-1,630.7 |
-905.5 |
-968.2 |
|
Other Comprehensive Income |
7.7 |
8.3 |
-0.5 |
0.1 |
-17.0 |
|
Other Equity, Total |
-980.9 |
-1,899.3 |
-1,631.2 |
-905.4 |
-985.2 |
|
Total Equity |
5,276.9 |
5,902.0 |
6,304.0 |
6,157.6 |
5,511.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
26,274.1 |
28,366.1 |
28,563.2 |
25,512.7 |
20,477.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
1,634.6 |
1,634.7 |
1,634.7 |
1,650.9 |
1,650.9 |
|
Total Common Shares Outstanding |
1,634.6 |
1,634.7 |
1,634.7 |
1,650.9 |
1,650.9 |
|
Treasury Shares - Common Stock Primary Issue |
20.8 |
20.8 |
20.7 |
4.6 |
4.6 |
|
Employees |
30,396 |
29,839 |
29,382 |
27,828 |
26,902 |
|
Number of Common Shareholders |
95,378 |
91,612 |
89,899 |
91,467 |
91,236 |
|
Total Long Term Debt, Supplemental |
9,357.9 |
10,541.9 |
11,483.9 |
6,968.0 |
5,261.1 |
|
Long Term Debt Maturing within 1 Year |
1,819.3 |
2,226.4 |
2,987.9 |
602.3 |
418.1 |
|
Long Term Debt Maturing in Year 2 |
1,340.7 |
1,421.9 |
1,493.3 |
666.8 |
528.5 |
|
Long Term Debt Maturing in Year 3 |
1,320.9 |
1,507.7 |
1,379.7 |
1,213.8 |
609.1 |
|
Long Term Debt Maturing in Year 4 |
978.0 |
1,253.5 |
1,467.8 |
1,002.9 |
657.4 |
|
Long Term Debt Maturing in Year 5 |
963.6 |
1,136.8 |
1,213.8 |
963.8 |
760.2 |
|
Long Term Debt Maturing in 2-3 Years |
2,661.6 |
2,929.6 |
2,872.9 |
1,880.6 |
1,137.6 |
|
Long Term Debt Maturing in 4-5 Years |
1,941.7 |
2,390.3 |
2,681.5 |
1,966.7 |
1,417.6 |
|
Long Term Debt Matur. in Year 6 & Beyond |
2,935.3 |
2,995.7 |
2,941.5 |
2,518.4 |
2,287.8 |
|
Total Capital Leases, Supplemental |
99.6 |
114.2 |
132.2 |
142.4 |
145.2 |
|
Capital Lease Payments Due in Year 1 |
12.2 |
13.1 |
13.7 |
12.9 |
11.8 |
|
Capital Lease Payments Due in Year 2 |
10.3 |
12.3 |
13.5 |
12.6 |
12.1 |
|
Capital Lease Payments Due in Year 3 |
10.7 |
10.4 |
12.6 |
12.5 |
11.7 |
|
Capital Lease Payments Due in Year 4 |
11.0 |
10.7 |
10.7 |
12.2 |
11.6 |
|
Capital Lease Payments Due in Year 5 |
11.4 |
11.1 |
11.1 |
10.6 |
11.4 |
|
Capital Lease Payments Due in 2-3 Years |
21.0 |
22.7 |
26.1 |
25.1 |
23.8 |
|
Capital Lease Payments Due in 4-5 Years |
22.4 |
21.8 |
21.8 |
22.7 |
23.0 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
44.1 |
56.7 |
70.5 |
81.7 |
86.6 |
|
Pension Obligation - Domestic |
2,906.2 |
3,241.5 |
3,208.8 |
2,856.5 |
2,900.9 |
|
Plan Assets - Domestic |
3,031.7 |
3,212.4 |
3,198.0 |
2,895.2 |
2,496.1 |
|
Funded Status - Domestic |
125.5 |
-29.1 |
-10.8 |
38.8 |
-404.8 |
|
Total Funded Status |
125.5 |
-29.1 |
-10.8 |
38.8 |
-404.8 |
|
Discount Rate - Domestic |
1.60% |
2.10% |
2.10% |
2.10% |
1.20% |
|
Expected Rate of Return - Domestic |
2.10% |
2.10% |
2.10% |
1.20% |
1.20% |
|
Prepaid Benefits - Domestic |
327.9 |
334.9 |
347.8 |
418.2 |
568.6 |
|
Accrued Liabilities - Domestic |
-327.4 |
-388.4 |
-355.4 |
-316.4 |
-299.8 |
|
Other Assets, Net - Domestic |
-125.0 |
-24.4 |
3.1 |
63.1 |
673.7 |
|
Net Assets Recognized on Balance Sheet |
-124.6 |
-77.9 |
-4.5 |
164.9 |
942.5 |
|
Total Plan Obligations |
2,906.2 |
3,241.5 |
3,208.8 |
2,856.5 |
2,900.9 |
|
Total Plan Assets |
3,031.7 |
3,212.4 |
3,198.0 |
2,895.2 |
2,496.1 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
148.8 |
303.3 |
883.4 |
444.3 |
-485.1 |
|
Depreciation |
1,312.0 |
1,359.5 |
1,618.5 |
1,249.3 |
1,400.3 |
|
Depreciation/Depletion |
1,312.0 |
1,359.5 |
1,618.5 |
1,249.3 |
1,400.3 |
|
Amortization of Acquisition Costs |
79.9 |
95.5 |
97.1 |
46.3 |
- |
|
Amortization |
79.9 |
95.5 |
97.1 |
46.3 |
- |
|
Unusual Items |
441.8 |
-52.5 |
73.4 |
-100.9 |
148.3 |
|
Equity in Net Earnings (Loss) |
-14.8 |
385.6 |
-19.1 |
123.7 |
154.2 |
|
Other Non-Cash Items |
100.3 |
85.1 |
136.3 |
16.9 |
89.0 |
|
Non-Cash Items |
527.3 |
418.1 |
190.6 |
39.7 |
391.5 |
|
Accounts Receivable |
502.9 |
-98.9 |
-438.8 |
-750.0 |
1,098.7 |
|
Inventories |
-76.0 |
-387.7 |
-109.7 |
-45.3 |
-168.3 |
|
Accounts Payable |
25.0 |
108.9 |
274.4 |
650.0 |
-1,055.8 |
|
Other Operating Cash Flow |
-437.6 |
-274.7 |
-458.9 |
-204.7 |
-400.9 |
|
Changes in Working Capital |
14.1 |
-652.5 |
-733.0 |
-350.0 |
-526.3 |
|
Cash from Operating Activities |
2,082.1 |
1,523.9 |
2,056.5 |
1,429.6 |
780.5 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1,468.1 |
-1,729.7 |
-1,173.7 |
-1,286.0 |
-1,380.7 |
|
Capital Expenditures |
-1,468.1 |
-1,729.7 |
-1,173.7 |
-1,286.0 |
-1,380.7 |
|
Acquisition of Business |
-372.3 |
0.0 |
- |
-2,173.9 |
- |
|
Sale of Business |
0.0 |
3.6 |
- |
- |
- |
|
Sale of Fixed Assets |
15.5 |
38.5 |
25.5 |
14.9 |
33.0 |
|
Sale/Maturity of Investment |
575.6 |
729.3 |
323.0 |
663.2 |
36.0 |
|
Purchase of Investments |
-674.0 |
-592.9 |
-994.5 |
-171.8 |
-212.1 |
|
Other Investing Cash Flow |
-74.7 |
-18.9 |
-0.6 |
54.9 |
-528.6 |
|
Other Investing Cash Flow Items, Total |
-529.9 |
159.6 |
-646.6 |
-1,612.6 |
-671.7 |
|
Cash from Investing Activities |
-1,998.0 |
-1,570.1 |
-1,820.3 |
-2,898.6 |
-2,052.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-82.4 |
-43.0 |
-75.9 |
-36.3 |
-56.6 |
|
Financing Cash Flow Items |
-82.4 |
-43.0 |
-75.9 |
-36.3 |
-56.6 |
|
Cash Dividends Paid - Common |
-177.4 |
-248.6 |
-173.5 |
-53.3 |
-197.3 |
|
Total Cash Dividends Paid |
-177.4 |
-248.6 |
-173.5 |
-53.3 |
-197.3 |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
0.4 |
0.0 |
|
Repurchase/Retirement
of Common |
-0.1 |
-0.2 |
-70.0 |
-0.4 |
-0.7 |
|
Common Stock, Net |
-0.1 |
-0.2 |
-70.0 |
0.0 |
-0.7 |
|
Issuance (Retirement) of Stock, Net |
-0.1 |
-0.2 |
-70.0 |
0.0 |
-0.7 |
|
Short Term Debt, Net |
-221.5 |
-216.7 |
-1,024.2 |
754.4 |
840.8 |
|
Long Term Debt Issued |
1,768.5 |
1,729.1 |
2,394.0 |
1,981.4 |
1,440.6 |
|
Long Term Debt
Reduction |
-1,721.0 |
-1,194.6 |
-840.5 |
-830.9 |
-906.9 |
|
Long Term Debt, Net |
47.5 |
534.4 |
1,553.4 |
1,150.5 |
533.8 |
|
Issuance (Retirement) of Debt, Net |
-174.0 |
317.8 |
529.2 |
1,904.9 |
1,374.5 |
|
Cash from Financing Activities |
-434.0 |
26.0 |
209.9 |
1,815.2 |
1,120.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
107.6 |
-37.6 |
-89.4 |
13.2 |
-63.1 |
|
Net Change in Cash |
-242.3 |
-57.7 |
356.7 |
359.4 |
-215.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,772.3 |
1,920.0 |
1,412.6 |
938.8 |
1,068.9 |
|
Net Cash - Ending Balance |
1,530.1 |
1,862.3 |
1,769.2 |
1,298.2 |
853.9 |
|
Cash Interest Paid |
156.8 |
155.0 |
150.5 |
130.2 |
119.8 |
|
Cash Taxes Paid |
269.8 |
399.1 |
358.2 |
224.2 |
298.7 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
23,532.4 |
24,668.9 |
23,134.6 |
17,440.2 |
17,796.0 |
|
Total Revenue |
23,532.4 |
24,668.9 |
23,134.6 |
17,440.2 |
17,796.0 |
|
|
|
|
|
|
|
|
Cost Of Sales |
17,470.7 |
17,964.1 |
16,448.8 |
12,829.0 |
14,058.0 |
|
Shipping |
540.6 |
553.7 |
533.1 |
378.9 |
330.3 |
|
Advertising & Sale promotion Exp. |
420.9 |
518.4 |
447.4 |
278.7 |
223.5 |
|
Other Labor & Related Expenses -SGA |
1,268.8 |
1,368.4 |
- |
- |
- |
|
Reserve for officers retirement |
2.1 |
2.4 |
2.6 |
2.7 |
2.6 |
|
Provision for Retirement Benefits - SGA |
65.8 |
105.0 |
150.1 |
158.1 |
42.2 |
|
Provision of Reserve for Bonus |
128.0 |
128.1 |
115.9 |
97.7 |
98.4 |
|
Other Labor Related Exp. |
- |
- |
1,196.7 |
819.2 |
714.9 |
|
Research expenses |
1,468.5 |
1,500.5 |
1,561.8 |
1,228.4 |
1,265.7 |
|
Depreciation expenses |
418.1 |
467.1 |
493.0 |
219.7 |
193.8 |
|
Amort of goodwill |
- |
- |
- |
46.3 |
- |
|
Other SG&A |
1,206.3 |
1,292.6 |
1,158.8 |
827.8 |
845.6 |
|
Gain on step acquisitions |
-18.5 |
- |
- |
- |
- |
|
SP Gain-retirement trust account estab. |
- |
- |
- |
0.0 |
-147.0 |
|
SP Loss on settlement reserve |
- |
- |
- |
0.0 |
-10.5 |
|
SP Loss on Valuation of Investment Secs |
56.7 |
- |
- |
- |
- |
|
SP Loss Val. Inv. Sec. |
- |
- |
- |
0.0 |
41.2 |
|
SP Restructuring Charge |
129.9 |
80.5 |
47.5 |
28.7 |
87.6 |
|
SP Compensation - person.-system chan. |
- |
- |
0.0 |
16.9 |
0.0 |
|
Loss on litigation |
13.1 |
- |
- |
- |
- |
|
SP Environmental expenses |
0.0 |
26.5 |
0.0 |
- |
- |
|
SP Impairment Loss |
275.7 |
45.5 |
37.9 |
0.0 |
207.5 |
|
SP Casualty losses |
- |
0.0 |
12.6 |
0.0 |
- |
|
Total Operating Expense |
23,446.7 |
24,052.8 |
22,206.1 |
16,932.2 |
17,953.8 |
|
|
|
|
|
|
|
|
NOP Interest Income |
23.6 |
22.5 |
23.2 |
24.2 |
28.0 |
|
Foreign Exchange Gains |
81.4 |
- |
- |
- |
- |
|
NOP Dividend Income |
67.4 |
74.4 |
54.9 |
52.2 |
67.5 |
|
NOP Inv. Income-Equity |
- |
- |
- |
- |
0.0 |
|
Expenses on inactive facilities |
-33.7 |
- |
- |
- |
- |
|
NOP Equity earnings |
65.5 |
25.2 |
126.3 |
0.0 |
- |
|
NOP Other Non-Op.Income |
121.9 |
106.2 |
117.0 |
82.5 |
77.3 |
|
NOP Interest Expense |
-89.7 |
-84.9 |
-90.6 |
-77.6 |
-63.1 |
|
NOP Corp.Bond Coupon |
-65.0 |
-69.6 |
-59.5 |
-50.4 |
-49.1 |
|
NOP Int.-CommercialPaper |
-1.4 |
-2.6 |
-1.8 |
-1.9 |
-10.0 |
|
NOP Equity losses |
0.0 |
- |
0.0 |
-75.3 |
-127.5 |
|
NOP Loss Liquid.Inventory |
- |
- |
- |
- |
0.0 |
|
NOP Exchange Loss |
0.0 |
-46.5 |
-77.2 |
-5.1 |
-145.9 |
|
NOP Other Non-Op.Expense |
-107.0 |
-151.0 |
-137.5 |
-126.0 |
-123.0 |
|
SP Equity Change Gain |
- |
- |
- |
- |
0.0 |
|
SP Equity losses |
- |
-329.3 |
0.0 |
- |
- |
|
SP Gain Sale Inv. Sec. |
0.0 |
124.6 |
0.0 |
102.3 |
8.5 |
|
SP Gain Sale Fix.Asset |
0.0 |
18.3 |
0.0 |
11.6 |
9.8 |
|
Net Income Before Taxes |
148.8 |
303.3 |
883.4 |
444.3 |
-485.1 |
|
|
|
|
|
|
|
|
Total income taxes |
635.7 |
105.1 |
406.6 |
122.0 |
-15.9 |
|
Net Income After Taxes |
-487.0 |
198.2 |
476.7 |
322.3 |
-469.2 |
|
|
|
|
|
|
|
|
Minority interests in income |
-128.6 |
-127.4 |
-191.6 |
-163.9 |
-119.6 |
|
Net Income Before Extra. Items |
-615.6 |
70.8 |
285.1 |
158.4 |
-588.8 |
|
Net Income |
-615.6 |
70.8 |
285.1 |
158.4 |
-588.8 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-615.6 |
70.8 |
285.1 |
158.4 |
-588.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-615.6 |
70.8 |
285.1 |
158.4 |
-588.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
1,634.6 |
1,634.7 |
1,644.2 |
1,650.9 |
1,650.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.38 |
0.04 |
0.17 |
0.10 |
-0.36 |
|
Basic EPS Including ExtraOrdinary Items |
-0.38 |
0.04 |
0.17 |
0.10 |
-0.36 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-615.6 |
70.8 |
285.1 |
158.4 |
-588.8 |
|
Diluted Weighted Average Shares |
1,634.6 |
1,634.7 |
1,644.2 |
1,650.9 |
1,650.9 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.38 |
0.04 |
0.17 |
0.10 |
-0.36 |
|
Diluted EPS Including ExtraOrd Items |
-0.38 |
0.04 |
0.17 |
0.10 |
-0.36 |
|
DPS-Ordinary Shares |
0.07 |
0.11 |
0.11 |
0.06 |
0.09 |
|
Gross Dividends - Common Stock |
118.3 |
186.4 |
172.4 |
106.6 |
148.0 |
|
Normalized Income Before Taxes |
685.5 |
533.0 |
1,078.4 |
524.7 |
-316.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
795.6 |
151.6 |
451.7 |
131.4 |
43.2 |
|
Normalized Income After Taxes |
-110.1 |
381.4 |
626.7 |
393.3 |
-359.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-238.7 |
254.0 |
435.1 |
229.4 |
-479.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.15 |
0.16 |
0.26 |
0.14 |
-0.29 |
|
Diluted Normalized EPS |
-0.15 |
0.16 |
0.26 |
0.14 |
-0.29 |
|
Research And Development Expens-SGA |
- |
1,500.5 |
- |
- |
- |
|
Research and Development Expenses-COGS |
- |
47.9 |
- |
- |
- |
|
Research & Development Exp(SGA) |
1,468.5 |
- |
1,561.8 |
1,228.4 |
1,265.7 |
|
Research & Development Exp(COGS) |
- |
- |
50.3 |
33.9 |
39.2 |
|
Advertising & Sale promotion Exp. |
420.9 |
518.4 |
447.4 |
278.7 |
223.5 |
|
Interest Expense, Supplemental |
156.1 |
- |
- |
- |
- |
|
Interest Expenses |
- |
84.9 |
90.6 |
77.6 |
63.1 |
|
Corporate Bond Interest Expenses |
- |
69.6 |
59.5 |
50.4 |
49.1 |
|
Commercial Paper Interest Expenses |
- |
2.6 |
1.8 |
1.9 |
10.0 |
|
BC - Depreciation of Goodwill |
79.9 |
95.5 |
- |
- |
- |
|
BC - Depreciation of Fixed Assets |
1,312.0 |
1,359.5 |
- |
- |
- |
|
Depreciation |
- |
- |
1,618.5 |
1,249.3 |
1,400.3 |
|
Amort of goodwill |
- |
- |
97.1 |
46.3 |
- |
|
Income taxes-current |
213.7 |
352.2 |
- |
- |
- |
|
Current Tax - Total |
213.7 |
352.2 |
- |
- |
- |
|
Income taxes-deferred |
422.0 |
-247.1 |
- |
- |
- |
|
Deferred Tax - Total |
422.0 |
-247.1 |
- |
- |
- |
|
Income Tax - Total |
635.7 |
105.1 |
- |
- |
- |
|
Reported Operating Profit |
542.6 |
768.6 |
1,026.4 |
553.6 |
21.0 |
|
Reported Ordinary Profit |
605.7 |
642.3 |
981.3 |
376.1 |
-324.7 |
|
Service Cost |
126.2 |
126.4 |
115.4 |
115.4 |
107.6 |
|
Interest Cost |
65.1 |
68.2 |
62.8 |
44.9 |
40.8 |
|
Expected Return on Plan Assets |
-65.7 |
-68.9 |
-64.6 |
-37.0 |
-38.9 |
|
Actuarial Gains and Losses |
-25.3 |
46.4 |
156.1 |
205.5 |
-17.1 |
|
Prior Service Cost |
-6.4 |
1.4 |
-4.7 |
-3.3 |
-1.4 |
|
Domestic Pension Plan Expense |
93.9 |
173.5 |
264.9 |
325.4 |
91.0 |
|
Defined Contribution Expenses |
31.6 |
28.1 |
30.6 |
7.8 |
5.1 |
|
Total Pension Expense |
125.6 |
201.6 |
295.6 |
333.2 |
96.2 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.60% |
2.10% |
- |
- |
- |
|
Discount Rate |
- |
- |
2.10% |
2.10% |
1.20% |
|
Expected return on assets(MIN)-Retiremen |
2.10% |
2.10% |
- |
- |
- |
|
Expected Rate of Return |
- |
- |
2.10% |
1.20% |
1.20% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
94.088557 |
82.385362 |
82.88 |
93.44 |
98.77 |
|
Auditor |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Deposit |
796.4 |
832.7 |
1,010.4 |
759.0 |
615.8 |
|
Notes and accounts receivable-trade |
4,297.4 |
4,987.6 |
4,992.4 |
4,093.3 |
2,979.8 |
|
Short-term investment securities |
919.0 |
1,240.8 |
1,159.2 |
676.0 |
369.8 |
|
Inventories - merchandise&finished goods |
3,194.0 |
3,484.7 |
3,127.5 |
2,737.4 |
2,511.5 |
|
Inventories - work-in-process |
160.4 |
156.1 |
151.9 |
208.5 |
181.4 |
|
Inventories - raw materials&supplies |
1,008.2 |
1,000.7 |
1,041.9 |
860.5 |
706.1 |
|
Deferred Tax |
488.6 |
619.2 |
640.1 |
529.3 |
350.9 |
|
Other Curr.Asset |
935.4 |
1,070.4 |
1,150.9 |
1,003.1 |
792.1 |
|
Allow.Doubt.Acct |
-14.7 |
-15.0 |
-22.1 |
-21.0 |
-21.6 |
|
Total Current Assets |
11,784.8 |
13,377.2 |
13,252.2 |
10,846.1 |
8,485.7 |
|
|
|
|
|
|
|
|
Buildings & Structures, gross |
6,166.6 |
6,704.5 |
6,497.3 |
5,689.6 |
5,155.1 |
|
Accum Dep & Impairment Loss of Buildings |
-3,850.3 |
-4,209.4 |
-4,077.9 |
-3,462.5 |
-3,121.2 |
|
Machinery, equipment and vehicles |
15,206.7 |
16,188.1 |
15,696.7 |
13,652.3 |
12,270.5 |
|
Acc.
Depre&Impair-Machine,Equip&Vehicle |
-12,703.1 |
-13,569.8 |
-13,281.1 |
-11,404.3 |
-10,183.6 |
|
Other PP&E, gross |
1,743.9 |
1,874.8 |
1,835.8 |
1,629.5 |
1,485.4 |
|
Accumulated depreciation-Other PPE |
-1,402.8 |
-1,520.7 |
-1,477.1 |
-1,259.0 |
-1,109.9 |
|
Land |
847.7 |
935.5 |
931.7 |
825.3 |
780.0 |
|
Constr.-in-Prog. |
795.9 |
817.7 |
541.3 |
556.0 |
472.6 |
|
Goodwill |
842.0 |
841.4 |
961.2 |
1,013.9 |
131.1 |
|
In-process research and development |
538.5 |
- |
- |
- |
- |
|
Patent |
349.9 |
595.4 |
968.5 |
1,371.2 |
275.9 |
|
Facility Right |
- |
- |
- |
- |
0.0 |
|
Software |
117.3 |
133.4 |
137.1 |
139.3 |
132.2 |
|
Product Register Right |
- |
- |
- |
- |
0.0 |
|
Other Intangibel assets |
119.8 |
155.5 |
162.3 |
148.4 |
102.2 |
|
Other Investment Securities |
1,906.3 |
- |
- |
- |
- |
|
Other LT Invest. |
- |
2,047.1 |
- |
- |
- |
|
Invest.Security |
- |
- |
2,169.2 |
2,249.6 |
3,894.4 |
|
Invt Secs Noncons, Asc, Affd Cos |
2,304.3 |
2,375.5 |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
25.0 |
25.0 |
- |
- |
- |
|
Inv. Securities.affiliates&sub. |
- |
- |
2,669.7 |
1,972.4 |
- |
|
Long-term loans receivable |
621.6 |
620.4 |
624.0 |
615.3 |
614.6 |
|
Other Other Noncurrent Assets |
644.1 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
- |
674.7 |
- |
- |
- |
|
Deferred tax assets |
227.7 |
312.4 |
252.7 |
158.7 |
135.0 |
|
Inv't partnership-nonconsol.affil.&sub. |
- |
- |
32.0 |
71.4 |
- |
|
Other Noncurrent Assets |
- |
- |
680.2 |
719.0 |
969.2 |
|
Allow.Doubt.Acct |
-11.5 |
-12.6 |
-12.9 |
-19.5 |
-11.9 |
|
Total Assets |
26,274.1 |
28,366.1 |
28,563.2 |
25,512.7 |
20,477.4 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
2,722.3 |
2,764.7 |
2,750.8 |
2,296.8 |
1,534.1 |
|
Short-term loans payable |
2,034.2 |
2,733.8 |
2,583.6 |
3,152.4 |
1,674.2 |
|
Cur.Port.Bond |
531.4 |
303.5 |
253.1 |
349.1 |
264.4 |
|
Commercial Paper |
1,190.4 |
1,456.6 |
1,254.8 |
834.8 |
1,285.8 |
|
Corp.Tax Pybls. |
89.2 |
169.9 |
186.0 |
166.9 |
134.3 |
|
Allowances |
575.6 |
597.8 |
617.7 |
485.7 |
293.0 |
|
Other Curr.Liab. |
2,103.8 |
2,202.7 |
1,984.7 |
1,999.5 |
1,578.5 |
|
Total Current Liabilities |
9,246.9 |
10,229.0 |
9,630.7 |
9,285.2 |
6,764.2 |
|
|
|
|
|
|
|
|
Corp.Bond |
3,688.0 |
4,515.4 |
4,307.4 |
3,018.0 |
2,754.3 |
|
Long-term loans payable |
3,828.1 |
3,771.8 |
4,153.3 |
3,325.7 |
2,074.0 |
|
Total Long Term Debt |
7,516.1 |
8,287.2 |
8,460.7 |
6,343.7 |
4,828.3 |
|
|
|
|
|
|
|
|
Deferred Taxes |
682.7 |
206.4 |
475.2 |
311.5 |
318.9 |
|
Res.Accrd.Retir. |
327.4 |
388.4 |
355.4 |
316.4 |
299.8 |
|
Other Allowance |
145.6 |
161.2 |
121.0 |
131.4 |
118.4 |
|
Other LT Liabs. |
410.9 |
343.6 |
363.7 |
333.4 |
294.9 |
|
Minority Int. |
2,667.5 |
2,848.4 |
2,852.5 |
2,633.4 |
2,341.4 |
|
Total Liabilities |
20,997.1 |
22,464.2 |
22,259.2 |
19,355.1 |
14,966.0 |
|
|
|
|
|
|
|
|
Common stock |
953.3 |
1,088.8 |
1,082.3 |
960.0 |
908.2 |
|
Paid-in-Capital |
251.8 |
287.6 |
285.9 |
253.9 |
240.1 |
|
Retained Earning |
4,462.7 |
5,887.3 |
6,024.2 |
5,253.2 |
4,874.5 |
|
Reval. Excess |
43.9 |
50.1 |
46.0 |
40.8 |
38.6 |
|
Valuation difference on available-for-sa |
639.3 |
593.8 |
602.3 |
584.7 |
463.1 |
|
Deferred Hedge |
7.7 |
8.3 |
-0.5 |
0.1 |
-17.0 |
|
Translation Adj. |
-988.7 |
-1,907.6 |
-1,630.7 |
-905.5 |
-968.2 |
|
Treasury Stock |
-93.2 |
-106.4 |
-105.5 |
-29.5 |
-27.9 |
|
Total Equity |
5,276.9 |
5,902.0 |
6,304.0 |
6,157.6 |
5,511.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
26,274.1 |
28,366.1 |
28,563.2 |
25,512.7 |
20,477.4 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
1,634.6 |
1,634.7 |
1,634.7 |
1,650.9 |
1,650.9 |
|
Total Common Shares Outstanding |
1,634.6 |
1,634.7 |
1,634.7 |
1,650.9 |
1,650.9 |
|
T/S-Ordinary Shares |
20.8 |
20.8 |
20.7 |
4.6 |
4.6 |
|
Full-Time Employees |
30,396 |
29,839 |
29,382 |
27,828 |
26,902 |
|
Total Number of Shareholders |
95,378 |
91,612 |
- |
- |
- |
|
Number of Common Shareholders |
- |
- |
89,899 |
91,467 |
91,236 |
|
Within One Year |
531.4 |
303.5 |
- |
- |
- |
|
Loans Payable Maturing Within 1 Year |
703.5 |
1,288.9 |
- |
- |
- |
|
Deposit From Affiliates Within1 Year |
582.0 |
631.2 |
- |
- |
- |
|
Other Total Bond Redemption Amounts |
1,190.4 |
- |
- |
- |
- |
|
Other Loans Payable Remaining |
1,745.0 |
- |
- |
- |
- |
|
Employee Deposit Received |
2.5 |
2.8 |
- |
- |
- |
|
LT Debt Maturing within 1 Year |
- |
- |
2,987.9 |
602.3 |
418.1 |
|
Over One Year And Within Two Years |
478.3 |
606.9 |
- |
- |
- |
|
Lns Pble Maturing over a Yr within 2 Yrs |
862.5 |
815.0 |
- |
- |
- |
|
LT Debt Maturing within 1-2 Year |
- |
- |
1,493.3 |
666.8 |
528.5 |
|
Over Two Years And Within Three Years |
850.3 |
546.2 |
- |
- |
- |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
470.6 |
961.5 |
- |
- |
- |
|
LT Debt Maturing within 2-3 Year |
- |
- |
1,379.7 |
1,213.8 |
609.1 |
|
Over Three Years And Within Four Years |
584.6 |
971.0 |
- |
- |
- |
|
Over Four Years And Within Five Years |
584.6 |
667.6 |
- |
- |
- |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
393.5 |
282.5 |
- |
- |
- |
|
LT Debt Maturing within 3-4 Year |
- |
- |
1,467.8 |
1,002.9 |
657.4 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
379.1 |
469.2 |
- |
- |
- |
|
LT Debt Maturing within 4-5 Year |
- |
- |
1,213.8 |
963.8 |
760.2 |
|
Bond Redemption Remaining |
- |
1,723.6 |
- |
- |
- |
|
Loans Payable Remaining |
- |
1,272.1 |
- |
- |
- |
|
LT Debt Remaining Maturities |
- |
- |
2,941.5 |
2,518.4 |
2,287.8 |
|
Total Long Term Debt, Supplemental |
9,357.9 |
10,541.9 |
11,483.9 |
6,968.0 |
5,261.1 |
|
Capital Lease Maturing Within 1 Year |
12.2 |
13.1 |
13.7 |
12.9 |
11.8 |
|
Cap Lease Maturg over a Yr within 2 Yrs |
10.3 |
12.3 |
- |
- |
- |
|
Capital Leases Maturing within 2 Years |
- |
- |
13.5 |
12.6 |
12.1 |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
10.7 |
10.4 |
- |
- |
- |
|
Capital Leases Maturing within 3 Years |
- |
- |
12.6 |
12.5 |
11.7 |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
11.0 |
10.7 |
- |
- |
- |
|
Capital Leases Maturing within 4 Years |
- |
- |
10.7 |
12.2 |
11.6 |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
11.4 |
11.1 |
- |
- |
- |
|
Capital Leases Maturing within 5 Years |
- |
- |
11.1 |
10.6 |
11.4 |
|
Other Capital Lease Remaining |
44.1 |
- |
- |
- |
- |
|
Capital Lease Remaining |
- |
56.7 |
- |
- |
- |
|
Capital Leases - Remaining Maturities |
- |
- |
70.5 |
81.7 |
86.6 |
|
Total Capital Leases, Supplemental |
99.6 |
114.2 |
132.2 |
142.4 |
145.2 |
|
Pension Obligation |
2,906.2 |
3,241.5 |
3,208.8 |
2,856.5 |
2,900.9 |
|
Fair Value of Plan Assets |
3,031.7 |
3,212.4 |
3,198.0 |
2,895.2 |
2,496.1 |
|
Funded Status |
125.5 |
-29.1 |
-10.8 |
38.8 |
-404.8 |
|
Total Funded Status |
125.5 |
-29.1 |
-10.8 |
38.8 |
-404.8 |
|
Discount Rate |
1.60% |
2.10% |
2.10% |
2.10% |
1.20% |
|
Expected Rate of Return |
2.10% |
2.10% |
2.10% |
1.20% |
1.20% |
|
Unrecognized Actuarial Gains and Losses |
-54.8 |
-27.5 |
0.4 |
67.4 |
680.9 |
|
Unrecognized Prior Service Cost |
-70.2 |
3.1 |
2.7 |
-4.4 |
-7.3 |
|
Prepaid Pension Benefit |
327.9 |
334.9 |
347.8 |
418.2 |
568.6 |
|
Accrued Pension Benefit |
-327.4 |
-388.4 |
-355.4 |
-316.4 |
-299.8 |
|
Net Assets Recognized on Balance Sheet |
-124.6 |
-77.9 |
-4.5 |
164.9 |
942.5 |
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 |
KPMG AZSA LLC |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income bf. Tax |
148.8 |
303.3 |
883.4 |
444.3 |
-485.1 |
|
Depreciation |
1,312.0 |
1,359.5 |
1,618.5 |
1,249.3 |
1,400.3 |
|
Amortization of goodwill |
79.9 |
95.5 |
97.1 |
46.3 |
- |
|
Loss (gain) on valuation of investment s |
56.7 |
- |
- |
- |
- |
|
Impairmen Loss |
275.7 |
45.5 |
37.9 |
0.0 |
207.5 |
|
Equity in (earnings) losses of affiliate |
-14.8 |
385.6 |
-19.1 |
123.7 |
154.2 |
|
Increase (decrease) in provision |
35.3 |
25.0 |
62.5 |
-36.6 |
62.4 |
|
Inter.&Div. Income |
-91.1 |
-96.9 |
-78.2 |
-76.4 |
-95.5 |
|
Interest Expense |
156.1 |
157.0 |
151.9 |
129.9 |
122.1 |
|
Loss (gain) on sales of investment secur |
0.0 |
-124.6 |
0.0 |
-102.3 |
-8.5 |
|
Gain Val. Inv. Sec. |
- |
- |
- |
0.0 |
41.2 |
|
Equity Change Gain |
- |
- |
- |
- |
0.0 |
|
Gain-retirement trust account estab. |
- |
- |
- |
0.0 |
-147.0 |
|
Loss (gain) on sales of property, plant |
0.0 |
-18.3 |
0.0 |
-11.6 |
-9.8 |
|
Restructuring Charge |
109.4 |
44.8 |
35.5 |
13.0 |
65.1 |
|
Decrease (increase) in notes and account |
502.9 |
-98.9 |
-438.8 |
-750.0 |
1,098.7 |
|
Decrease (increase) in inventories |
-76.0 |
-387.7 |
-109.7 |
-45.3 |
-168.3 |
|
Increase (decrease) in notes and account |
25.0 |
108.9 |
274.4 |
650.0 |
-1,055.8 |
|
Increase (decrease) in cash and cash equ |
0.0 |
-51.8 |
- |
- |
- |
|
Increase (decrease) in cash and cash equ |
14.0 |
-0.9 |
- |
- |
- |
|
Other, net |
-106.6 |
242.6 |
-20.9 |
91.5 |
-67.6 |
|
Int.&Div. Received |
81.6 |
89.5 |
70.8 |
58.2 |
85.2 |
|
Interest Paid |
-156.8 |
-155.0 |
-150.5 |
-130.2 |
-119.8 |
|
Income Taxes Paid |
-269.8 |
-399.1 |
-358.2 |
-224.2 |
-298.7 |
|
Cash from Merger |
- |
- |
- |
- |
0.0 |
|
Newly Consolidated |
- |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
2,082.1 |
1,523.9 |
2,056.5 |
1,429.6 |
780.5 |
|
|
|
|
|
|
|
|
Purchase of short-term investment securi |
-561.4 |
-492.3 |
-275.7 |
-66.3 |
0.0 |
|
Sale/Redemp. Marktb. Sec. |
539.3 |
575.9 |
256.1 |
318.5 |
0.0 |
|
Purch. Inv. Security |
-112.6 |
-100.6 |
-692.9 |
-103.8 |
-190.1 |
|
Sale Inv. Security |
36.3 |
153.4 |
66.9 |
344.7 |
36.0 |
|
Purchase of investment in capital of sub |
- |
0.0 |
-10.3 |
0.0 |
- |
|
Purchase of subsidiaries' share |
-372.3 |
0.0 |
- |
-2,173.9 |
- |
|
Purch. Subs.Stock |
- |
- |
-15.6 |
- |
-1.3 |
|
Sale Subs. Stock |
- |
- |
0.0 |
- |
- |
|
Purchase of Contribution Investment |
- |
- |
0.0 |
-1.8 |
-20.7 |
|
Capital Expenditure |
-1,468.1 |
-1,729.7 |
-1,173.7 |
-1,286.0 |
-1,380.7 |
|
Sale of PP&E |
15.5 |
38.5 |
25.5 |
14.9 |
33.0 |
|
Proceeds from sales of investments in su |
0.0 |
3.6 |
- |
- |
- |
|
Loan Made |
- |
- |
0.0 |
-24.6 |
-667.6 |
|
Loan Collected |
- |
- |
0.0 |
24.3 |
45.2 |
|
Other, net |
-74.7 |
-18.9 |
-0.6 |
55.2 |
93.8 |
|
Cash from Investing Activities |
-1,998.0 |
-1,570.1 |
-1,820.3 |
-2,898.6 |
-2,052.4 |
|
|
|
|
|
|
|
|
Increase (decrease) in commercial papers |
-96.4 |
202.6 |
303.4 |
-527.2 |
348.3 |
|
Net increase (decrease) in short-term lo |
-125.1 |
-419.3 |
-1,327.6 |
1,281.6 |
492.5 |
|
Proceeds from long-term loans payable |
1,467.2 |
1,122.2 |
1,155.1 |
1,447.4 |
861.8 |
|
Repayment of long-term loans payable |
-1,406.1 |
-813.6 |
-326.3 |
-183.2 |
-273.9 |
|
Bond Issued |
301.3 |
606.8 |
1,238.9 |
534.0 |
578.8 |
|
Bond Redeemed |
-301.3 |
-366.9 |
-499.9 |
-635.1 |
-632.9 |
|
Repayment of finance lease |
-13.5 |
-14.2 |
-14.4 |
-12.6 |
0.0 |
|
Purch. Treasury Stock |
-0.1 |
-0.2 |
-70.0 |
-0.4 |
-0.7 |
|
Sales of treasury stock |
- |
- |
0.0 |
0.4 |
0.0 |
|
Dividends Paid |
-177.4 |
-248.6 |
-173.5 |
-53.3 |
-197.3 |
|
Divid.Paid to MI |
-88.8 |
-107.0 |
-103.2 |
-57.4 |
-67.2 |
|
Capital Incr. fm.MI |
6.3 |
64.0 |
27.4 |
21.1 |
10.6 |
|
Cash from Financing Activities |
-434.0 |
26.0 |
209.9 |
1,815.2 |
1,120.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
107.6 |
-37.6 |
-89.4 |
13.2 |
-63.1 |
|
Net Change in Cash |
-242.3 |
-57.7 |
356.7 |
359.4 |
-215.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,772.3 |
1,920.0 |
1,412.6 |
938.8 |
1,068.9 |
|
Net Cash - Ending Balance |
1,530.1 |
1,862.3 |
1,769.2 |
1,298.2 |
853.9 |
|
Cash Interest Paid |
156.8 |
155.0 |
150.5 |
130.2 |
119.8 |
|
Cash Taxes Paid |
269.8 |
399.1 |
358.2 |
224.2 |
298.7 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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Annual Ratios
Financials in: USD (mil)
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.64.21 |
|
UK Pound |
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.85.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.