Thursday, August 6, 2015

Japanese Companies Filing With US SEC, Led by Toyota and Financials, Total 2014 Audited Earnings On Fire, Up 15% Over 2013, Up 58% Over 2012, Up 227% Over 2011 and Up 10.9 Trillion Yen Over 2008 ..... the Obama Admin, the US Fed, the US Congress and all Americans Have To Be Pleased ..... But One Key Caveat: Non-Financial Companies Total 2014 Audited Earnings Are 10% Below 2007 Peak Earnings ..... TPP Should Quickly Solve That Problem

From a very thorough review of US SEC filings, I found 17 Companies headquartered in Japan which filed 2014 financial statements with the US SEC.  All of these Japanese Companies except one have March 31st Fiscal Year Ends.

Of these 17 Companies, 5 of them are Financial Companies.  These 5 Japanese Financial Companies had exceptional improvements in their Audited Earnings since the financial meltdown fiscal year 2008, nearly all of which was for the FYE March 2009.

The remaining 12 Japanese Non-Financial Companies also had solid Earnings Improvement since the financial meltdown year.

The one clear negative for these 12 Non-Financial Japanese Companies is that their Total Audited Earnings for the most recent fiscal year 2014 was 10% below that of the previous fiscal year high in 2007.

Below here are the reported ..... US GAAP for 15 of them and IFRS GAAP for 2 of them ..... Audited Net Income (Losses) of each of  these 17 Japanese Companies for all years reported from 2005 through 2014:



2014 2013 2012 2011 2010 2009 2008 2007 2006 2005


Most Audited Audited Audited Audited Audited Audited Audited Audited Audited Audited


Recent Net Net Net Net Net Net Net Net Net Net
Japanese Companies City 2014 Income Income Income Income Income Income Income Income Income Income
Filing With US SEC in Yen HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)



bils Yen bils Yen bils Yen bils Yen bils Yen bils Yen bils Yen bils Yen bils Yen bils Yen
Financial Companies











Mitsubishi UFJ Financial Group Tokyo Mar 15       1,597       1,083       1,120            421            388            884     (1,504)          (501)            599            521
Sumitomo Mitsui Financial Group Inc Tokyo Mar 15            723            892            654            451            561            647             (82)                                                         
Mizuho Financial Group Chiyoda-ku Mar 15            830            500            881            649            418       1,047     (1,120)            175            652       1,155
Nomura Holdings Inc Tokyo Mar 15            226            216            106               26               32               68          (709)             (68)            173            263
Orix Corp Tokyo Mar 15            255            188            119               83               65               35               13            148            189            151













Total all 5 Financials

      3,631       2,879       2,879       1,630       1,465       2,680     (3,403)          (247)       1,612       2,090













Financials Earnings Growth %:











….. 2014 Over 2013

26%








….. 2014 Over 2011

123%








….. 2014 Over 2005

74%








….. 3 Years 2012-14 Over 2008-10
1165%








Earnings Growth Bils Yen:











….. 2014 Over 2008

      7,034





















Non-Financial Companies











Toyota Motor Corp Aichi Prefecture Mar 15       2,308       1,992       1,083            368            465            244          (461)       1,796       1,644       1,372
Nippon Telegraph & Telephone Corp Chiyoda-ku Mar 15            675            757            708            649            702            682            733            833            676            749
NTT Docomo Inc Tokyo Mar 15            398            456            481            461            492            497            471            491            457            611
Honda Motor Co Ltd Tokyo Mar 15            561            666            393            222            563            283            151            627            612            612
Canon Inc Tokyo Dec            265            240            232            254            253            135            320            504            455            384
Sony Corp Tokyo Mar 15         (49)         (69)            102          (398)          (220)               13          (102)            364            127            123
Panasonic Corp Osaka Mar 15            196            122          (775)          (816)               86          (171)          (404)            311            248            153
Nidec Corp Kyoto Mar 15               78               59           7               52               64               58               35               48               48               49
Kyocera Corp Kyoto Mar 15            125               95               67               85            130               45               33            115            101               66
Advantest Corp Chiyoda-ku Mar 15               13          (36)            (4)            (2)              3             (11)             (75)               17               36               41
Internet Initiative Japan Tokyo Mar 15               3            5               5               4               3             2                1                 5                 6                  5
UBIC Inc Minato-ku Mar 15            0          (0)            1            1             1          (0)                                                                            













Total all 12 Non-Financials

      4,575       4,285       2,300            879       2,542       1,777            703       5,110       4,411       4,167













Non-Financials Earnings Growth %:











….. 2014 Over 2012

99%








….. 2014 Over 2011

420%








….. 2014 Over 2008

551%








….. 2014 Under 2007

-10%





















Grand Total all 17 Companies

      8,206       7,164       5,179       2,509       4,006       4,457     (2,700)       4,863       6,023       6,257













All Company Earnings Growth %:











….. 2014 Over 2013

15%








….. 2014 Over 2012

58%








….. 2014 Over 2011

227%








Earnings Growth Bils Yen:











….. 2014 Over 2008

   10,906