Last checked at 22 Feb 2013 09:09
RNS Number : 4727Y
Hyundai Motor Company
22 February 2013
HYUNDAI MOTOR COMPANY (HMC)
Corporate Disclosure to Korea Exchange
Disclosure Date : February 21, 2013
Disclosure Title : Convening Notice for the Annual General Meeting of Shareholders for the 45th Fiscal Year
The Annual General Meeting of Shareholders of Hyundai Motor Company (the “Company”) will be held pursuant to Article 365 of the Korean Commercial Code and Article 14 of the Articles of Incorporation of the Company as follows.
1 Date : 9:00 a.m., March 15, 2013 (Friday)
2 Place: Grand Hall, 2nd Floor West Building, Head office of Hyundai Motor Company,
231, Yangjae-Dong, Seocho-Gu, Seoul, 137-938, Korea
(※For any questions, please call +82-2-3464-1114)
3 Purposes of the Meeting
Annual Report, Independent Auditor’s Report
< Agenda >
Item 1: Approval of financial statements for the 45th business year (1/1/2012 ~ 12/31/2012)
Item 2: Appointment of director(s)
Item 3: Appointment of member(s) of Audit Committee
Item 4: Amendment to the Articles of Incorporation
Item 5: Approval of director’s compensation cap
4 Matters regarding the Exercise of Voting Rights:
< What to bring to the shareholders’ meeting >
- For the in-person exercise of the voting right of a shareholder:
an invitation to the shareholders’ meeting of the company, and an identification
- For the exercise of the voting right of a shareholder by proxy:
an invitation to the shareholders’ meeting of the company, a power of attorney ((1) with necessary information of the relevant shareholder and the person with the power of attorney filled in; and (2) duly executed and sealed), and an identification of the agent.
※applicable only to a beneficial owner of the share(s) issued by the Company>
- If you are a beneficial owner of the share(s) which has/have been deposited with a stock brokerage firm, please refer to the next page.
5. Other matters
For the 45th fiscal year, the Company expects to pay a cash dividend of KRW 1,900 for per share of common stock. (Series 1 Preferred Stock: KRW 1,950; Series 2 Preferred Stock: KRW 2,000; Series 3 Preferred Stock: KRW 1,950)
February 21, 2013
HYUNDAI MOTOR COMPANY
Representative Director: Kim Choong Ho
(Seal omitted)
Guide on How to Exercise Voting Rights of Beneficial Owners
As you may know, a voting right is your right and an important method to reflect your opinion at the shareholders' meeting. However, under the circumstances where the shares issued by the company are held by numerous shareholders, it may be difficult to constitute a quorum at the shareholders' meeting. Therefore, please refer to the following on how to exercise your voting right as a beneficial owner (i.e., as a shareholder holding a share or shares of the company in an account with a stock brokerage firm), and your cooperation will be appreciated.
□General Types of How to Exercise Voting Rights
A shareholder may be present at the shareholders' meeting and exercise his/her voting right at the shareholders' meeting.
A shareholder may have a third party exercise his/her voting right as his/her agent
□Exercise of Voting Rights by the Korea Securities Depository
In accordance with Article 314 of the Capital Market and Financial Investment Business Act of Korea, the company will ask the Korea Securities Depository to, on any issues with respect to which no opinion is expressed in the Opinion Notice attached below, exercise voting rights on behalf of such beneficial owners of shares of the company in case of such beneficial owners do not express their opinion to the Korea Securities Depository by the Opinion Notice in the form attached below. In such case, the Korea Securities Depository may, pursuant to the Capital Market and Financial Investment Business Act of Korea, conduct shadow voting based on the ratio between the agreement and disagreement to each issue as a result of the exercise of voting rights by all shareholders present at the shareholders' meeting except those represented by the Korea Securities Depository.
□ Advice on Delivery of Opinion Notice
It would be appreciated if a beneficial owner of a share or shares of the company would execute and send the Opinion Notice attached below for the purpose of the Korea Securities Depository's computation of the number of shares available for its exercise of voting rights, which shares will not include any shares with respect to which shareholder's opinion is expressed in the Opinion Notice attached below.
Delivery of the Opinion Notice to the following address is not a must. There will be no disadvantage or impediment to the exercise of any of your rights as a shareholder of the company, even though you do not send the Opinion Notice to the following address:
‘Person in charge of Opinion Notice of Beneficial Owner of a share or shares of Company’ , Korea Securities Depository, 34-6 Yoido-Dong, Yeongdeungpo-Ku, 150-884, Seoul, Korea
Fax: (02) 3774-3244, 3774-3245
March 8, 2013 (※5 business days before the date of the AGM)
----------------------------------------------------------------------------------------------------------------
Notice of Expression of Intention To Korea Securities Depository I, the undersigned, hereby, pursuant to Article 314 of the Capital Market and Financial Investment Business Act of Korea, declare my intention with respect to the exercise of voting rights on the shares owned by me at the annual general shareholders meeting of Hyundai Motor Company to be held on March 15, 2013 and any presumptive or continuous meeting thereto as follows: | |||||||
Beneficial Shareholder No. | Expression of Intention | ||||||
Resident Registration No. | In Person | By Proxy | Non-Exercise | ||||
Number of Voting Rights | |||||||
[ ] days of [ ] month of year 2013 Beneficial Shareholder Name : (Seal) Address : | |||||||
1. Agenda of the Annual General Meeting of Shareholders
Item 1: Approval of financial statements for the 45th business year
(1/1/2012 ~ 12/31/2012)
1. Consolidated financial Statements
(1) Consolidated Statements of Financial Position
(Unit: Million Won)
2012 | 2011 | |||||||||
Ⅰ. Current assets | 54,847,586 | 48,926,350 | ||||||||
1. Cash and cash equivalents | 6,759,338 | 6,231,946 | ||||||||
2. Short-term financial instruments | 12,384,057 | 9,182,575 | ||||||||
3. Trade notes and accounts receivable | 3,686,824 | 3,845,517 | ||||||||
4. Other receivables | 2,304,410 | 2,240,482 | ||||||||
5. Other financial assets | 109,299 | 356,444 | ||||||||
6. Inventories | 6,772,864 | 6,237,752 | ||||||||
7. Other assets | 1,905,445 | 1,137,862 | ||||||||
8. Current tax assets | 34,575 | 36,084 | ||||||||
9. Financial services receivables | 20,867,467 | 19,657,688 | ||||||||
10. Non-current assets held for sale | 23,307 | - | ||||||||
Ⅱ. Non-current assets | 66,690,228 | 60,553,625 | ||||||||
1. Long-term financial instruments | 1,359 | 211,540 | ||||||||
2. Long-term trade notes and accounts receivable | 43,801 | 76,843 | ||||||||
3. Other receivables | 1,036,609 | 987,207 | ||||||||
4. Other financial assets | 1,594,464 | 1,897,943 | ||||||||
5. Other assets | 44,424 | 1,288 | ||||||||
6. Property, plant and equipment | 20,739,858 | 19,548,048 | ||||||||
7. Investment property | 282,832 | 282,427 | ||||||||
8. Intangibles | 2,883,218 | 2,660,109 | ||||||||
9. Investments in joint ventures and associates | 13,117,731 | 11,709,238 | ||||||||
10. Deferred tax liabilities | 489,080 | 458,287 | ||||||||
11. Financial services receivables | 18,626,764 | 17,452,441 | ||||||||
12. Operating lease assets | 7,830,088 | 5,268,254 | ||||||||
Total assets | 121,537,814 | 109,479,975 | ||||||||
Ⅰ. Current liabilities | 32,835,699 | 33,163,508 | ||||||||
1. Trade notes and accounts payable | 6,841,326 | 6,666,406 | ||||||||
2. Other payables | 4,542,007 | 3,752,684 | ||||||||
3. Short-term borrowings | 6,781,749 | 7,880,014 | ||||||||
4. Current portion of long-term debt & debentures | 7,912,341 | 8,320,194 | ||||||||
5. Income tax payables | 550,847 | 925,519 | ||||||||
6. Provisions | 1,768,014 | 1,686,161 | ||||||||
7. Other financial liabilities | 148,311 | 455,914 | ||||||||
8. Other liabilities | 4,291,104 | 3,476,616 | ||||||||
Ⅱ. Non-current liabilities | 40,784,540 | 35,988,765 | ||||||||
1. Long-term other payables | 8,271 | 29,471 | ||||||||
2. Debentures | 26,370,689 | 23,654,325 | ||||||||
3. Long-term debt | 4,142,473 | 3,484,127 | ||||||||
4. Defined benefit obligations | 821,749 | 648,639 | ||||||||
5. Provisions | 5,240,744 | 4,960,992 | ||||||||
6. Other financial liabilities | 356,193 | 200,197 | ||||||||
7. Other liabilities | 1,482,358 | 1,537,003 | ||||||||
8. Deferred tax liabilities | 2,362,063 | 1,474,011 | ||||||||
Total liabilities | 73,620,239 | 69,152,273 | ||||||||
Ⅰ. Equity attributable to the owners of the Parent Company | 44,039,059 | 37,113,033 | ||||||||
1. Capital stock | 1,488,993 | 1,488,993 | ||||||||
2. Capital surplus | 4,158,988 | 4,114,010 | ||||||||
3. Other capital items | (1,128,779) | (1,128,779) | ||||||||
4. Accumulated other comprehensive income | (473,373) | 375,281 | ||||||||
5. Retained earnings | 39,993,230 | 32,263,528 | ||||||||
Ⅱ. Non-controlling interests | 3,878,516 | 3,214,669 | ||||||||
Total shareholders’ equity | 47,917,575 | 40,327,702 | ||||||||
Total liabilities & shareholders’ equity | 121,537,814 | 109,479,975 | ||||||||
(2) Consolidated Statements of Income (Statement of Comprehensive Income) - Consolidated Statements of Income (Unit: Million Won) | ||||||||||
2012 | 2011 | |||||||||
Ⅰ. Sales | 84,469,721 | 77,797,895 | ||||||||
Ⅱ. Cost of Sales | 64,972,145 | 58,902,023 | ||||||||
Ⅲ. Gross profit | 19,497,576 | 18,895,872 | ||||||||
Ⅳ. Selling and administrative expenses | 11,060,629 | 10,867,043 | ||||||||
Ⅴ. Operating Income | 8,436,947 | 8,028,829 | ||||||||
1. Gain on investment in JV and associates, net | 2,579,906 | 2,403,753 | ||||||||
2. Finance Income | 969,726 | 747,546 | ||||||||
3. Finance Expenses | 624,473 | 779,666 | ||||||||
4. Other Income | 1,231,360 | 1,030,593 | ||||||||
5. Other Expenses | 988,336 | 983,945 | ||||||||
Ⅵ. Income before income tax | 11,605,130 | 10,447,110 | ||||||||
1. Income tax expense | 2,548,853 | 2,342,247 | ||||||||
Ⅶ. Profit for the period | 9,056,277 | 8,104,863 | ||||||||
1. Profit attributable to owners of the Parent Company | 8,561,825 | 7,655,871 | ||||||||
2. Non-controlling interests | 494,452 | 448,992 | ||||||||
Ⅷ. Earnings per share | ||||||||||
1. Basic earnings per share | KRW 31,515 | KRW 28,200 | ||||||||
2. Diluted earnings per share | KRW 31,515 | KRW 28,200 | ||||||||
- Consolidated Statements of Comprehensive Income (Unit: Million Won) | ||||||||||
2012 | 2011 | |||||||||
Ⅰ. Profit for the period | 9,056,277 | 8,104,863 | ||||||||
II. Other comprehensive income (expenses) | (1,202,730) | (251,659) | ||||||||
1. Gain(loss) on valuation of available-for-sale financial assets, net | (80,693) | (91,860) | ||||||||
2. Gain(loss) on valuation of cash flow hedge derivatives, net | 55,471 | 4,004 | ||||||||
3. Changes in valuation of equity-accounted investees, net | (293,487) | 158,977 | ||||||||
4. Actuarial loss on defined benefit obligations, net | (247,197) | (175,500) | ||||||||
5. Gain(loss) on foreign operations translation, net | (636,824) | (147,280) | ||||||||
III. Total comprehensive income | 7,853,547 | 7,853,204 | ||||||||
1. Comprehensive income attributable to owners of the Parent Company | 7,378,454 | 7,415,551 | ||||||||
2. Non-controlling interests | 475,093 | 437,653 | ||||||||
(3) Consolidated Statements of Changes in shareholders’ Equity (Unit: Million Won) | ||||||||||
Income attributable to owners of the Parent Company | Non-controlling interests | Total equity | ||||||||
Capital stock | Capital surplus | Other capital items | Accumulated other comprehensive income | Retained earning | Total | |||||
Balance at January 1, 2011 | 1,488,993 | 3,900,935 | (918,214) | 409,914 | 25,216,163 | 30,097,791 | 2,790,182 | 32,887,973 | ||
Comprehensive income | ||||||||||
Profit for the period | 7,655,871 | 7,655,871 | 448,992 | 8,104,863 | ||||||
Gain(loss) on valuation of available-for-sale financial assets, net | (91,493) | (91,493) | (367) | (91,860) | ||||||
Gain(loss) on valuation of cash flow hedge derivatives, net | 2,891 | 2,891 | 1,113 | 4,004 | ||||||
Changes in valuation of equity-accounted investees, net | 199,216 | (40,249) | 158,967 | 10 | 158,977 | |||||
Actuarial loss on defined benefit obligations, net | (165,438) | (165,438) | (10,062) | (175,500) | ||||||
Loss on foreign operations translation, net | (145,247) | (145,247) | (2,033) | (147,280) | ||||||
Total comprehensive income | (34,633) | 7,450,184 | 7,415,551 | 437,653 | 7,853,204 | |||||
Transactions with owners, recorded directly in equity | ||||||||||
Payment of cash dividends | (412,227) | (412,227) | (45,423) | (457,650) | ||||||
Purchase of treasury stock | (400,137) | (400,137) | (400,137) | |||||||
Disposal of treasury stock | 194,959 | 189,572 | 384,531 | 384,531 | ||||||
Increase in subsidiaries’ capital-stock | 12,871 | 12,871 | ||||||||
Disposal of subsidiaries stock | 18,116 | 18,116 | 18,116 | |||||||
Other | 9,408 | 9,408 | 19,386 | 28,794 | ||||||
Total transactions with owners, recorded directly in equity | 213,075 | (210,565) | (402,819) | (400,309) | (13,166) | (413,475) | ||||
Balance at December 31, 2011 | 1,488,993 | 4,114,010 | (1,128,779) | 375,281 | 32,263,528 | 37,113,033 | 3,214,669 | 40,327,702 | ||
Balance at January 1, 2012 | 1,488,993 | 4,114,010 | (1,128,779) | 375,281 | 32,263,528 | 37,113,033 | 3,214,669 | 40,327,702 | ||
Comprehensive income | ||||||||||
Profit for the period | 8,561,825 | 8,561,825 | 494,452 | 9,056,277 | ||||||
Gain(loss) on valuation of available-for-sale financial assets, net | (81,330) | (81,330) | 637 | (80,693) | ||||||
Gain(loss) on valuation of cash flow hedge derivatives, net | 29,746 | 29,746 | 25,725 | 55,471 | ||||||
Changes in valuation of equity-accounted investees, net | (189,602) | (102,759) | (292,361) | (1,126) | (293,487) | |||||
Actuarial loss on defined benefit obligations, net | (231,958) | (231,958) | (15,239) | (247,197) | ||||||
Loss on foreign operations translation, net | (607,468) | (607,468) | (29,356) | (636,824) | ||||||
Comprehensive income | (848,654) | 8,227,108 | 7,378,454 | 475,093 | 7,853,547 | |||||
Transactions with owners, recorded directly in equity | ||||||||||
Payment of cash dividends | (480,105) | (480,105) | (43,262) | (523,367) | ||||||
Increase in subsidiaries’ capital-stock | 42,866 | 42,866 | 232,050 | 274,916 | ||||||
Disposal of subsidiaries stock | 2,112 | 2,112 | (10) | 2,102 | ||||||
Other | (17,301) | (17,301) | (24) | (17,325) | ||||||
Total transactions with owners, recorded directly in equity | 44,978 | (497,406) | (452,428) | 188,754 | (263,674) | |||||
Balance at December 31, 2012 | 1,488,993 | 4,158,988 | (1,128,779) | (473,373) | 39,993,230 | 44,039,059 | 3,878,516 | 47,917,575 | ||
(4) Consolidated Statements of Cash Flows (Unit: Million Won) | ||||||||||
2012 | 2011 | |||||||||
Ⅰ. Cash flows from operating activities | 5,339,686 | 4,132,119 | ||||||||
1.Cash generated from operations | 7,868,089 | 6,426,813 | ||||||||
(1) Profit for the period | 9,056,277 | 8,104,863 | ||||||||
(2) Adjustments | 7,123,391 | 6,918,040 | ||||||||
(3) Changes in operating assets and liabilities | (8,311,579) | (8,596,090) | ||||||||
2.Interest received | 617,736 | 550,026 | ||||||||
3.Interest paid | (1,660,401) | (1,722,736) | ||||||||
4.Dividend received | 744,132 | 605,273 | ||||||||
5.Income tax paid | (2,229,870) | (1,727,257) | ||||||||
Ⅱ. Cash flows from investing activities | (7,199,133) | (7,116,095) | ||||||||
Net increase(decrease) in short-term financial instruments | (1,900,099) | (337,862) | ||||||||
Proceeds from disposal of other financial assets | 448,109 | 764,699 | ||||||||
Proceeds from disposal of other receivables | 93,261 | 412,462 | ||||||||
Proceeds from withdrawal of long-term financial instruments | - | 5 | ||||||||
Proceeds from disposal of property, plant and equipment | 69,230 | 108,727 | ||||||||
Proceeds from disposal of intangible assets | 1,935 | 11,047 | ||||||||
Proceeds from disposal of investments in joint ventures and associates | 241,806 | 355,584 | ||||||||
Acquisition of other financial assets | (539,551) | (764,965) | ||||||||
Acquisition of other receivables | (97,098) | (394,144) | ||||||||
Purchase of long-term financial instruments | (1,160,000) | (500,000) | ||||||||
Acquisition of property, plant and equipment | (3,000,038) | (2,899,177) | ||||||||
Acquisition of intangible assets | (798,607) | (763,234) | ||||||||
Acquisition of investments in subsidiaries | (290,989) | - | ||||||||
Acquisition of investments in joint ventures and associates | (275,104) | (3,105,180) | ||||||||
Other cash payments from investing activities | 8,012 | (4,057) | ||||||||
Ⅲ.Cash flows from financing activities | 2,572,831 | 3,108,804 | ||||||||
Net increase (decrease) in short-term borrowings | (1,363,213) | (1,084,499) | ||||||||
Proceeds from issue of debentures and long-term debt | 23,448,538 | 15,501,739 | ||||||||
Paid in capital increase of subsidiaries | 277,476 | 10,618 | ||||||||
Repayment of current portion of long-term debt and debentures | (18,890,467) | (10,436,527) | ||||||||
Repayment of other financial liabilities | (341,484) | - | ||||||||
Purchase of treasury stock | - | (400,137) | ||||||||
Dividends paid | (523,367) | (457,650) | ||||||||
Other cash payments from financing activities | (34,652) | (24,740) | ||||||||
Ⅳ. Effect of exchange rate changes on cash and cash equivalents | (185,992) | (108,697) | ||||||||
Ⅴ. Net increase in cash and cash equivalents | 527,392 | 16,131 | ||||||||
Ⅵ. Cash and cash equivalents, beginning of the period | 6,231,946 | 6,215,815 | ||||||||
Ⅶ. Cash and cash equivalents, end of the period | 6,759,338 | 6,231,946 | ||||||||
2. Separate financial Statements
(1) Separate Statements of Financial Position
(Unit: Million Won)
2012 | 2011 | |||||||
Ⅰ. Current assets | 19,653,944 | 17,249,883 | ||||||
1. Cash and cash equivalents | 1,395,068 | 1,510,820 | ||||||
2. Short-term financial instruments | 11,658,545 | 8,547,166 | ||||||
3. Trade notes and accounts receivable | 3,982,708 | 4,469,652 | ||||||
4. Other receivables | 516,398 | 637,723 | ||||||
5. Other financial assets | 77,705 | 29,574 | ||||||
6. Inventories | 1,696,775 | 1,832,025 | ||||||
7. Other assets | 326,745 | 222,923 | ||||||
Ⅱ. Non-current assets | 34,291,985 | 32,986,127 | ||||||
1. Long-term financial instruments | 32 | 210,032 | ||||||
2. Long-term trade notes and accounts receivable | 14,140 | 29,013 | ||||||
3. Other receivables | 901,180 | 875,654 | ||||||
4. Other financial assets | 1,465,314 | 1,567,355 | ||||||
5. Property, plant and equipment | 13,306,218 | 12,524,580 | ||||||
6. Investment property | 203,209 | 208,905 | ||||||
7. Intangibles | 2,036,219 | 2,074,929 | ||||||
8. Investments in subsidiaries, joint ventures and associates | 16,365,673 | 15,495,659 | ||||||
Total assets | 53,945,929 | 50,236,010 | ||||||
Ⅰ. Current liabilities | 11,153,049 | 11,919,397 | ||||||
1. Trade notes and accounts payable | 3,870,150 | 3,947,963 | ||||||
2. Other payables | 2,477,901 | 2,034,199 | ||||||
3. Short-term borrowings | 2,103,458 | 2,632,334 | ||||||
4. Current portion of long-term debt & debentures | 202,343 | 401,960 | ||||||
5. Income tax payables | 365,517 | 757,295 | ||||||
6. Provisions | 1,172,022 | 1,226,774 | ||||||
7. Other financial liabilities | 5,137 | 29,483 | ||||||
8. Other liabilities | 956,521 | 889,389 | ||||||
Ⅱ. Non-current liabilities | 5,773,224 | 5,794,979 | ||||||
1. Debentures | 698,172 | 897,193 | ||||||
2. Lont-term debt | 11,561 | 13,904 | ||||||
3. Defined benefit obligations | 639,167 | 459,161 | ||||||
4. Provisions | 4,258,748 | 4,320,837 | ||||||
5. Other financial liabilities | 8,436 | 10,981 | ||||||
6. Other liabilities | 51,549 | 43,808 | ||||||
7. Deferred tax liabilities | 105,591 | 49,095 | ||||||
Total liabilities | 16,926,273 | 17,714,376 | ||||||
1. Capital stock | 1,488,993 | 1,488,993 | ||||||
2. Capital surplus | 3,964,962 | 3,964,962 | ||||||
3. Other capital items | (1,128,779) | (1,128,779) | ||||||
4. Accumulated other comprehensive income | 675,591 | 758,981 | ||||||
5. Retained earnings | 32,018,889 | 27,437,477 | ||||||
Total shareholders’ equity | 37,019,656 | 32,521,634 | ||||||
Total liabilities & shareholders’ equity | 53,945,929 | 50,236,010 | ||||||
(2) Separate Statements of Income (Separate Statement of Comprehensive Income) - Separate Statements of Income (Unit: Million Won) | ||||||||
2012 | 2011 | |||||||
Ⅰ. Sales | 43,162,401 | 42,774,077 | ||||||
Ⅱ. Cost of Sales | 32,810,120 | 31,945,571 | ||||||
Ⅲ. Gross profit | 10,352,281 | 10,828,506 | ||||||
Ⅳ. Selling and administrative expenses | 6,055,053 | 6,144,093 | ||||||
Ⅴ. Operating Income | 4,297,228 | 4,684,413 | ||||||
1. Gain on investment in joint ventures and associates, net | 175,706 | 186,835 | ||||||
2. Finance Income | 1,979,435 | 1,267,346 | ||||||
3. Finance Expenses | 239,182 | 362,302 | ||||||
4. Other Income | 628,418 | 569,190 | ||||||
5. Other Expenses | 463,173 | 476,485 | ||||||
Ⅵ. Income before income tax | 6,378,432 | 5,868,997 | ||||||
1. Income tax expense | 1,104,984 | 1,128,111 | ||||||
Ⅶ. Profit for the period | 5,273,448 | 4,740,886 | ||||||
Ⅷ. Earnings per share | ||||||||
1. Basic earnings per share | KRW 19,404 | KRW 17,456 | ||||||
2. Diluted earnings per share | KRW 19,404 | KRW 17,456 | ||||||
- Separate Statements of Comprehensive Income (Unit: Million Won) | ||||||||
2012 | 2011 | |||||||
Ⅰ. Profit for the period | 5,273,448 | 4,740,886 | ||||||
II. Other comprehensive income (expenses) | (295,321) | (223,753) | ||||||
1.Gain(loss) on valuation of available-for-sale financial assets, net | (82,160) | (91,019) | ||||||
2.Gain(loss) on valuation of cash flow hedge derivatives, net | (1,230) | (3,446) | ||||||
3.Actuarial loss on defined benefit obligations, net | (211,931) | (129,288) | ||||||
III.Total comprehensive income | 4,978,127 | 4,517,133 | ||||||
(3) Separate Statements of Changes in shareholders’ Equity (Unit: Million Won) | ||||||||
Capital stock | Capital surplus | Other capital items | Accumulated other comprehensive income | Retained earning | Total | |||
Balance at January 1, 2011 | 1,488,993 | 3,770,003 | (918,214) | 853,446 | 23,238,106 | 28,432,334 | ||
Payment of cash dividends | (412,227) | (412,227) | ||||||
Purchase of treasury stock | (400,137) | (400,137) | ||||||
Disposal of treasury stock | 194,959 | 189,572 | 384,531 | |||||
Gain(loss) on valuation of available-for-sale financial assets, net | (91,019) | (91,019) | ||||||
Gain on valuation of cash flow hedge derivatives, net | (3,446) | (3,446) | ||||||
Actuarial loss on defined benefit obligations, net | (129,288) | (129,288) | ||||||
Profit for the period | 4,740,886 | 4,740,886 | ||||||
Balance at December 31, 2011 | 1,488,993 | 3,964,962 | (1,128,779) | 758,981 | 27,437,477 | 32,521,634 | ||
Balance at January 1, 2012 | 1,488,993 | 3,964,962 | (1,128,779) | 758,981 | 27,437,477 | 32,521,634 | ||
Payment of cash dividends | (480,105) | (480,105) | ||||||
Gain(loss) on valuation of available-for-sale financial assets, net | (82,160) | (82,160) | ||||||
Gain on valuation of cash flow hedge derivatives, net | (1,230) | (1,230) | ||||||
Actuarial loss on defined benefit obligations, net | (211,931) | (211,931) | ||||||
Profit for the period | 5,273,448 | 5,273,448 | ||||||
Balance at December 31, 2012 | 1,488,993 | 3,964,962 | (1,128,779) | 675,591 | 32,018,889 | 37,019,656 | ||
(4) Separate Statements of Cash Flows (Unit: Million Won) | ||||||||
2012 | 2011 | |||||||
Ⅰ. Cash flows from operating activities | 7,140,705 | 6,470,652 | ||||||
1.Cash generated from operations | 6,809,016 | 6,558,006 | ||||||
(1) Profit for the period | 5,273,448 | 4,740,886 | ||||||
(2) Adjustments | 1,635,580 | 2,963,469 | ||||||
(3) Changes in operating assets and liabilities | (100,012) | (1,146,349) | ||||||
2.Interest received | 386,851 | 338,961 | ||||||
3.Interest paid | (75,922) | (145,608) | ||||||
4.Dividend received | 1,366,742 | 793,343 | ||||||
5.Income tax paid | (1,345,982) | (1,074,050) | ||||||
Ⅱ. Cash flows from investing activities | (5,866,345) | (6,189,314) | ||||||
Net increase(decrease) in short-term financial instruments | (1,741,379) | (219,353) | ||||||
Proceeds from disposal of other financial assets | 22,710 | 4,152 | ||||||
Proceeds from disposal of other receivables | 60,870 | 364,904 | ||||||
Proceeds from withdrawal of long-term financial instruments | - | 5 | ||||||
Proceeds from disposal of property, plant and equipment | 19,829 | 22,008 | ||||||
Proceeds from disposal of intangible assets | 41 | 5,620 | ||||||
Proceeds from disposal of subsidiaries, investments in joint ventures and associates | 241,806 | 139,471 | ||||||
Acquisition of other financial assets | (19,926) | (37,087) | ||||||
Acquisition of other receivables | (69,304) | (380,635) | ||||||
Purchase of long-term financial instruments | (1,160,000) | (500,000) | ||||||
Acquisition of property, plant and equipment | (1,657,256) | (1,425,340) | ||||||
Acquisition of intangible assets | (631,529) | (625,526) | ||||||
Acquisition of investments in subsidiaries, joint ventures and associates | (932,207) | (3,537,533) | ||||||
Ⅲ.Cash flows from financing activities | (1,390,112) | (543,355) | ||||||
Net increase (decrease) in short-term borrowings | (508,047) | 621,751 | ||||||
Proceeds from issue of debentures | - | 298,697 | ||||||
Repayment of current portion of long-term debt and debentures | (401,960) | (651,439) | ||||||
Purchase of treasury stock | - | (400,137) | ||||||
Dividends paid | (480,105) | (412,227) | ||||||
Ⅳ. Net increase in cash and cash equivalents | (115,752) | (262,017) | ||||||
Ⅴ. Cash and cash equivalents, beginning of the period | 1,510,820 | 1,772,837 | ||||||
Ⅵ. Cash and cash equivalents, end of the period | 1,395,068 | 1,510,820 | ||||||
(5) Separate Statements of Appropriations of Retained Earnings (Unit: Million Won) | ||||||||
2012 | 2011 | |||||||
Ⅰ. Unappropriated retained earnings | 5,064,118 | 8,015,717 | ||||||
1.Beginning of year | 2,601 | 3,404,119 | ||||||
2. Actuarial loss, net | (211,931) | (129,288) | ||||||
3. Net income | 5,273,448 | 4,740,886 | ||||||
II. Appropriation of retained earnings | 5,062,916 | 8,013,116 | ||||||
1.Legal reserve | 52,083 | 48,011 | ||||||
2.Reserve for research development | 2,140,000 | 3,530,000 | ||||||
3.Reserve for technology development | 2,350,000 | 3,955,000 | ||||||
4.Cash Dividends | 520,833 | 480,105 | ||||||
(Details of cash dividends amount and rate ) FY 45th: Common shares KRW 1,900 (38%) Series 1 preferred shares KRW 1,950 (39%) Series 2 preferred shares KRW 2,000 (40%) Series 3 preferred shares KRW 1,950 (39%) FY 44rd: Common shares KRW 1,750 (35%) Series 1 preferred shares KRW 1,800 (36%) Series 2 preferred shares KRW 1,850 (37%) Series 3 preferred shares KRW 1,800(36%) | ||||||||
III.Unappropriated retained earnings, end of year | 1,202 | 2,601 | ||||||
Item 2: Appointment of Director(s)
*Nominees (4 persons)
Name | Date of birth | Major Career | Transaction with the Company | Relationship with Major Shareholder |
Recommended by | ||||
Chung, Eui Sun | 1970. Oct. 18 | ·;Vice Chairman of Hyundai Motor Company (current) ·;President of Kia Motor Company (former) | None | Director |
BOD1 | ||||
Kim, Choong Ho | 1951. Oct. 13 | ·;President & CEO of Hyundai Motor Company (current) ·;Head of Korea Domestic Business Divisionof Hyundai Motor Company (former) | None | Director of an affiliated company |
BOD1 | ||||
Nam, Sung Il | 1954. Apr. 18 | ·;Professor of Economics, Sogang University (current) ·;Dean, Graduate School of Economics, Sogang University (former) | None | Director of an affiliated company |
EDCRC2 | ||||
Yi, You Jae | 1960. Jul. 15 | ·;Professor of Business Administration, Seoul National University (current) ·;President of the Korean Marketing Association (former) | None | Director of an affiliated company |
EDCRC2 |
1. Board of Directors
2. External Director Candidate Recommendation Committee
Item 3: Appointment of member(s) of Audit Committee
*Nominees (1 person)
Name | Date of birth | Major Career | Transaction with the Company | Relationship with Major Shareholder |
Recommended by | ||||
Nam, Sung-Il | 1954. Apr. 18 | ·;Professor of Economics, Sogang University (current) ·;Dean, Graduate School of Economics, Sogang University (former) | None | Director of an affiliated company |
BOD1 |
1. Board of Directors
Item 4: Amendment to the Articles of Incorporation
Article | Before Amendment | After Amendment | Purpose of Amendment |
Business Purpose (Article 2) | (20) To set up gas facilities (fourth-class) | (20) To set up gas facilities | Revised Korean Commercial Code (Revision of Article) |
(newly established) | (30) Manufacture of Other Basic Iron and Steel | R&D activities for the purpose of the development of materials for auto parts. | |
(30) Any and all businesses which are incidental to any of the foregoing objectives. | (31) Any and all businesses which are incidental to any of the foregoing objectives. | ||
Addendum (2013.3.15) | (newly established) | Article 1. (Effective Date) This Amended Articles of Incorporation shall be effective on and after the resolution passed at the 45th Annual General Meeting. |
Item 5: Approval of Compensation Cap for Directors
Year | Number of BOD | Compensation Cap |
2013 | 9 persons | 15 billion Korean Won |
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