MIRA INFORM REPORT
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Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
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Name : |
TOSHIBA MEDICAL SYSTEMS CORPORATION |
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Registered Office : |
1385 Shimoishigami Otawara City
Tochigi-Pref 324-8555 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
September 1948 |
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Com. Reg. No.: |
(Tochigi-Otawara) 013525 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of medical equipment |
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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Maximum Credit Limit : |
Yen 4,618.8 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
---- |
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Japan |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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 |
Company name
TOSHIBA MEDICAL SYSTEMS CORPORATION
REGD NAME
Toshiba Medical
Systems KK
MAIN OFFICE
1385 Shimoishigami
Otawara City Tochigi-Pref 324-8555 JAPAN
Tel:
0287-26-5100 Fax: 0287-26-6050
URL: www.toshiba-medical.co.jp
E-mail: info@toshiba-medical co.jp
ACTIVITIES
Mfg of
medical equipment
BRANCHES
Tokyo,
Sapporo, Sendai, Osaka, Nagoya, Kobe, other (Tot143)
OVERSEAS
USA, Europe, China, India, other
FACTORIES
At the
caption address
OFFICER(S)
SATOSHI
TSUNAKAWA, PRES Tatsushi Kimura, mgn dir
Nobuhiro
Washio, mgn dir Hiroshi Asahina,
mgn dir
Kazuya
Kobayashi, mgn dir Keiji Tanaka,
mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 260,064 M
PAYMENTS REGULAR CAPITAL Yen 20,700 M
TREND SLOW WORTH Yen
38,775 M
STARTED 1948 EMPLOYES 3,377
COMMENT
MFR OF
MEDICAL EQUIPMENT, OWNED BY TOSHIBA CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 4,618.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a medical equipment
mfg division separated from Toshiba Corp (See REGISTRATION). This is a
specialized mfr of medical equipment & instruments (See OPERATION). Strong in magnetic resonance imaging systems
and tops in this field. Clients include
government agencies, national hospitals, public hospitals, universities, other,
nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 260,064
million, a 3% down from Yen 268,756 million in the previous term. The recurring profit was posted at Yen 10,840
million and the net profit at Yen 6,518 million, respectively, compared with
Yen 12,212 million recurring profit and Yen 8,707 million net profit,
respectively, a year ago. .
For the term just ended Mar 2011 the recurring profit was projected at
Yen 11,000 million and the net profit at Yen 6,600 million, respectively, on an
8% rise in turnover, to Yen 280,000 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 4,618.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1948
Regd No.: (Tochigi-Otawara)
013525
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 500
million shares
Issued: 134,979,000
shares
Sum: Yen 20,700 million
Major shareholders (%):
Toshiba Corp* (99.4), Toshiba Insurance Service (0.6)
No. of shareholders: 2
*.. One of largest comprehensive electrical
machinery mfr, Tokyo, founded 1904, listed Tokyo S/E, capital Yen 439,901
million, sales Yen 6,381,599 million, operating profit Yen 117,191 million,
recurring profit Yen 68,710 million, net losses Yen 19,743 million, total
assets 5,541,173 million, net worth Yen 1,127,622 million, employees 203,121,
pres Norio Sasaki
Consolidated
Financials are attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
medical equipment: diagnostic X-ray systems, medical X-ray CT systems, magnetic
resonance imaging systems, diagnostic ultrasound systems, radiation therapy
systems, diagnostic nuclear medicine systems, medical sample testing equipment,
and information for medical equipment (--100%).
Clients: Government
agencies, public hospitals, national hospitals, universities, laboratories,
other
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toshiba Medical Mfg Co, Panasonic Corp, Toshiba Electron Tubes
& Devices Co, other
Payment record: Regular
Location: Business area in
Otawara City, Tochigi-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(H/O)
Resona
Bank (Tokyo)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
|
280,000 |
260,064 |
268,756 |
290,689 |
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Recur.
Profit |
|
11,000 |
10,840 |
12,212 |
17,701 |
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Net
Profit |
|
6,600 |
6,518 |
8,707 |
10,757 |
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Total
Assets |
|
|
140,018 |
141,000 |
151,795 |
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Current
Assets |
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94,580 |
95,282 |
112,820 |
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Current
Liabs |
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78,426 |
82,709 |
83,183 |
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Net
Worth |
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38,775 |
37,529 |
49,558 |
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Capital,
Paid-Up |
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|
20,700 |
20,700 |
20,700 |
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Div.P.Share(¥) |
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|
60.40 |
52.50 |
91.90 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.67 |
-3.23 |
-7.55 |
4.38 |
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Current Ratio |
|
.. |
120.60 |
115.20 |
135.63 |
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N.Worth Ratio |
.. |
27.69 |
26.62 |
32.65 |
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R.Profit/Sales |
|
3.93 |
4.17 |
4.54 |
6.09 |
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N.Profit/Sales |
2.36 |
2.51 |
3.24 |
3.70 |
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Return On Equity |
.. |
16.81 |
23.20 |
21.71 |
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Notes:
Forecast (or estimated) figures for the 31/03/2011 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT,
TOSHIBA CORP
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2010 |
31/03/2009 |
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INCOME STATEMENT |
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Annual Sales |
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6,381,599 |
6,654,518 |
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Cost of Sales |
4,922,327 |
5,306,087 |
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GROSS PROFIT |
1,459,362 |
1,288,431 |
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Selling & Adm Costs |
1,342,171 |
1,538,617 |
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OPERATING PROFIT |
117,191 |
-250,185 |
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Non-Operating P/L |
-92,239 |
-29,067 |
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RECURRING PROFIT |
24,962 |
-279,252 |
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NET PROFIT |
-19,743 |
-343,559 |
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BALANCE SHEET |
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Cash |
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267,449 |
343,799 |
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Receivables |
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1,184,399 |
1,083,386 |
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Inventory |
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795,601 |
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Securities, Marketable |
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Other Current Assets |
514,157 |
1,293,446 |
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TOTAL CURRENT ASSETS |
2,761,606 |
2,720,631 |
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Property & Equipment |
978,726 |
1,069,579 |
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Intangibles |
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Investments, Other Fixed Assets |
1,710,841 |
1,663,015 |
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TOTAL ASSETS |
5,451,173 |
5,453,225 |
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Payables |
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1,191,885 |
1,003,865 |
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Short-Term Bank Loans |
257,364 |
1,033,886 |
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Other Current Liabs |
1,039,196 |
1,030,022 |
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TOTAL CURRENT LIABS |
2,488,445 |
3,067,773 |
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Debentures |
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Long-Term Bank Loans |
1,109,486 |
906,775 |
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Reserve for Retirement Allw |
725,620 |
719,396 |
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Other Debts |
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0 |
0 |
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TOTAL LIABILITIES |
4,323,551 |
4,693,944 |
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MINORITY INTERESTS |
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Common
stock |
439,901 |
280,281 |
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Additional
paid-in capital |
447,733 |
291,137 |
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Retained
earnings |
375,376 |
395,126 |
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Evaluation
p/l on investments/securities |
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Others |
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(134,083) |
(206,053) |
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Treasury
stock, at cost |
(1,305) |
(1,210) |
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TOTAL S/HOLDERS` EQUITY |
1,127,622 |
759,281 |
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TOTAL EQUITIES |
5,451,173 |
5,453,225 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2010 |
31/03/2009 |
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Cash
Flows from Operating Activities |
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451,445 |
-16,911 |
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Cash
Flows from Investment Activities |
-252,922 |
-335,308 |
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Cash
Flows from Financing Activities |
-277,861 |
478,452 |
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Cash,
Bank Deposits at the Term End |
|
267,449 |
343,793 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2010 |
31/03/2009 |
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Net
Worth (S/Holders' Equity) |
1,127,622 |
759,281 |
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Current
Ratio (%) |
110.98 |
88.68 |
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Net
Worth Ratio (%) |
20.69 |
13.92 |
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Recurring
Profit Ratio (%) |
0.39 |
-4.20 |
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Net
Profit Ratio (%) |
-0.31 |
-5.16 |
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Return
On Equity (%) |
-1.75 |
-45.25 |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.40 |
|
UK Pound |
1 |
Rs.73.26 |
|
Euro |
1 |
Rs.65.17 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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---- |
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.