MIRA
INFORM REPORT
|
Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
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Name : |
TOSHIBA TEC AUSTRALIA PTY. LTD. |
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Registered Office : |
Unit 1, 9 South Street Rydalmere New South 2116 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
07.02.1985 |
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Com. Reg. No.: |
002890673 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Marketing, sales, service support and distribution of point of sale systems, cash registers, barcode/ RFID printers, peripherals and software information systems. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 1,200,000 |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Australia |
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 |
IDENTIFICATION DETAILS
Verified Address
Subject name : TOSHIBA TEC AUSTRALIA PTY. LTD.
Business address :
Unit 1, 9 South Street
Town : Rydalmere Province : New
South Wales Zip/postal code : 2116
Country : Australia
Tel : +61 2 88456200
Fax : +61 2 96800892
Website : www.tecaustralia.com.au
Registered address :
Unit 1, 9 South Street
Town : Rydalmere Province : New
South Wales Zip/postal code : 2116
Country : Australia
Postal address :
P.O. Box 234
Town : Rydalmere Province : New
South Wales Zip/postal code : 1701
Country : Australia
SUMMARY DETAILS
Executive Summary
Date founded or registered : 07/02/1985
Legal form : Australian Proprietary Company
Chief executive : Vicki Joy Page
Issued & paid up capital : AUD 2,000,000
Sales turnover : JPY 362,302,000,000 (Group consolidated 12 months, 31/03/2011)
Net income : JPY 6,510,000,000 (Group consolidated 12 months, 31/03/2011)
Total fixed assets : JPY 288,592,000,000 (Group consolidated 12 months, 31/03/2011)
Line of business : Marketing, sales, service support and distribution of point of sale systems, cash registers, barcode/ RFID printers, peripherals and software information systems.
Staff employed : 20 (Subject) ; 20,259 (Toshiba Tec Group)
CREDIT RISK OPINION
Credit Risk Interpretation
Credit risk rating : GOOD
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience : Management is adequately experienced
Financial performance : Group financial performance is very good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 1,200,000
Credit amount asked : USD 750,000
Comments : Larger credit can still be granted if guaranteed by Parent Company.
STATUTORY DETAILS
Registry Data
Registration date : 07/02/1985
Legal form : Australian Proprietary Company
Registration no Australian Company Number: 002890673
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 93002890673
Registry status : Live/Active
Previous name : TOSHIBA TEC AUSTRALIA PTY LIMITED TEC AUSTRALIA PTY. LTD.
TEC RETAIL SYSTEMS & OFFICE PRODUCTS PTY LTD EDENGREEN PTY LTD (initial)
Change of legal form : None reported.
MANAGEMENT / DIRECTORS
Key Management
Name : Vicki Joy Page
Designation : Chief Financial Officer
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Daigoro Suetsugu
Designation : Director Appointment
date : 04/12/10
Address : #10-03 Bishan 8 Tower B Singapore 574044
Singapore
Biography : Born on 09-03-1961 in Tokyo, Japan.
Name : Vicki Joy Page
Designation : Director
Appointment date : 04/12/10
Address : 16 Gilda Way
Toongabbie, NSW 2146
Australia
Biography : Born on 12-08-1952 in Tenterfield, New South Wales, Australia.
Name : Hisakazu Murata
Designation : Director Appointment
date : 01/04/11
Address : Zama-shi
Kanagawa-ken 252-0023
Japan
Biography : Born on 08-01-1959 in Tokyo, Japan.
Name : Anthony Kenneth Brooks
Designation : Company Secretary
Appointment date : 03/08/94
Address : 5 Adina Road
Curl Curl NSW 2096
Australia
Biography : Born on 01-10-1958 in Sydney New South Wales, Australia.
Staff employed : 20 (Subject) ; 20,259 (Toshiba Tec Group)
Key Advisors
Auditors : ERNST & YOUNG
680 George Street
Sydney, NSW 2000
Australia
SHARE CAPITAL
Composition
Authorized Capital :
AUD 2,000,000
No of shares : 2,000,000 Ordinary Shares
Share par value :
AUD 1
Issued capital : AUD 2,000,000
Paid up capital : AUD 2,000,000
OWNERSHIP / SHAREHOLDERS
How listed : Full List
Composition
Shareholder name : TOSHIBA TEC CORPORATION
Address : 2-17-2 Higashi Gotanda
Shinagawa-ku, Tokyo 141-8664
Japan
No. of shares : 2,000,000 Ordinary Shares
% of shares : 100%
RELATED COMPANIES &
CORPORATE AFFILIATIONS
Structure
Name : TOSHIBA CORPORATION
Affiliation type : Ultimate Holding Company
Address : 1-1 Shibaura 1-chome
Minato-ku
Tokyo, 105-8001
Japan
Comments : Toshiba Corporation along with its subsidiaries (the Company) is engaged in research and development, manufacturing and sales of high-technology electronic and energy products, which span information & communications systems, social infrastructure systems, power systems, digital media, home appliances, and electronic devices & components. The products are manufactured and marketed throughout the world with 62 percent of sales in Japan and the remainder in North America, Asia, Europe and elsewhere
Name : TOSHIBA TEC CORPORATION
Affiliation type : Parent Company
Address : 2-17-2 Higashi Gotanda
Shinagawa-ku, Tokyo 141-8664
Japan
Comments : Toshiba Tec Corporation, together with its subsidiaries, engages in the retail solutions, document systems, auto-ID and printer businesses.
The company’s retail solution business provides POS systems and peripherals, electronic cash registers/scales, OA equipment, double-sided thermal printers, measuring devices, labeling printers, office and storage systems, handheld terminals, RFID systems, and various supplies
Its document systems business offers MFPs, facsimiles, various unit parts, and inkjet print heads.
The company’s auto-ID and printer business deals with auto-ID systems that incorporate bar codes and RFID tags, dot-impact printers, thermal printers, counter terminals and printers.
The company operates primarily in Japan, the United States, Canada, Mexico, Puerto Rico, Panama, Venezuela, Brazil, Chile, the United Kingdom, France, Germany, Belgium, Spain, the Netherlands, Sweden, Norway, Denmark, Finland, Switzerland, Poland, Singapore, Malaysia, Indonesia, China, Australia, and Korea. Toshiba Tec Corporation was founded in 1950 and is headquartered in Japan.
Name : TOSHIBA AMERICA BUSINESS SOLUTIONS, INC.
Affiliation type : Sister Company
Address : 2 Musick
Irvine, California 92618
United States
Name : TOSHIBA TEC INFORMATION SYSTEMS (SHENZHEN) CO.,LTD.
Affiliation type : Sister Company
Address : Area 16, Dayang Development Zone
Fuyong, Baoan District
Shenzhen 518103
China
Name : TOSHIBA TEC SINGAPORE PTE LTD
Affiliation type : Sister Company
Address : 2 Ang Mo Kio Street 62
Singapore 569138
Singapore
Name : TIM ELECTRONICS SDN. BHD.
Affiliation type : Sister Company
Address : Plot 111-A, Hala Kampung Jawa 2
Bayan Lepas Industrial Estate
11900 Penang
Malaysia
Name : P.T. TEC INDONESIA
Affiliation type : Sister Company
Address : Lot 108-110 Batamindo Industrial Park
Muka Kuning, Batam
Indonesia
Name : TOSHIBA TEC U.K. IMAGING SYSTEMS LIMITED
Affiliation type : Sister Company
Address : Abbey Cloisters, Abbey Green Chertsey, Surrey, KT16 8RB The United Kingdom
Name : TOSHIBA TEC (H.K.) LOGISTICS & PROCUREMENT LTD.
Affiliation type : Sister Company
Address : Unit No. 2305-2307, 23/F, The Metropolis Tower No.10, Metropolis Drive, Hung Hom, Kowloon Hong Kong
Name : TOSHIBA TEC AMERICA RETAIL INFORMATION SYSTEMS, INC.
Affiliation type : Sister Company
Address : 2 Musick
Irvine, California 92618
United States
Related companies and corporate affiliations comments: Other companies of the Toshiba Tec Corporation and Toshiba Corporation should be considered affiliates of the Subject. We are unable to list all the associated companies within the group therefore we have enclosed an attachment to this report.
BANK & MORTGAGES
Bank Details
Name of bank : National Australia Bank Limited
Address : Australia
Account details : Current Account
Comments : It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
FINANCIAL DATA
Description
Source of financial statement :
Commercial Registry Filings
Financial statement date : 31/03/11
Type of accounts :
Full audited
Currency : Japan, Yen (JPY)
Exchange rate :
1 USD = JPY 77.12 as of 13/10/2011
Summarized Financial
Information
Consolidation type : Group Consolidated Group Consolidated Group Consolidated Currency : Japan, Yen (JPY) Japan, Yen (JPY) Japan, Yen (JPY) Denomination : (x1) One (x1) One (x1)
One
Date of financial year end : 30/06/11 31/03/11 31/03/10
Length of accounts : 3 months 12
months 12 months
Sale turnover / Income : 83,076,000,000 362,302,000,000 364,578,000,000
Gross profit : 41,425,000,000 169,980,000,000 171,296,000,000
Operating profit : 2,012,000,000 13,997,000,000 9,725,000,000
Profit before tax : 1,549,000,000 10,171,000,000 5,726,000,000
Net income : 969,000,000 6,510,000,000 4,144,000,000
Non current assets : 86,514,000,000 87,972,000,000 94,006,000,000
Current assets : 197,574,000,000 200,620,000,000 195,512,000,000
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Inventories : |
40,367,000,000 |
34,278,000,000 |
31,019,000,000 |
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Total assets : |
284,088,000,000 |
288,592,000,000 |
289,518,000,000 |
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Current
liabilities : |
105,355,000,000 |
108,654,000,000 |
107,861,000,000 |
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Non current
liabilities : |
40,145,000,000 |
39,419,000,000 |
38,965,000,000 |
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Total
liabilities : |
145,500,000,000 |
148,073,000,000 |
146,826,000,000 |
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Share equity : |
138,588,000,000 |
143,280,000,000 |
138,927,000,000 |
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Retained earning : |
55,691,000,000 |
56,012,000,000 |
51,392,000,000 |
Comments : The group’s consolidated financial
information above relates to the Subject’s Parent Company Toshiba Tec
Corporation and all its subsidiaries which include the Subject.
OPERATION DETAILS
Main activities : The Subject is engaged in marketing, sales, service support and distribution of point of sale systems, cash registers, barcode/ RFID printers, peripherals and software information systems.
The Subject is part of TOSHIBA TEC CORPORATION which is a
Japan-based company mainly engaged in the development, manufacture, sale and maintenance of office equipment and electric machinery. The Company operates in three business segments. The System Solution segment is involved in the development, manufacture, sale and maintenance of office automation (OA) equipment and related solutions of point-of-sale (POS) systems, combined machines, barcode systems and radio-frequency identification (RFID) systems. The Document Solution segment is involved in the development, manufacture, sale and maintenance of combined machines, Inkjet heads and their
solutions-related products. The Overseas POS and artificial intelligence (AI) printers segment is involved in the development, manufacture, sale and maintenance of AI systems, printers and solution-related products of
POS systems, barcode systems and RFID systems. As of March 31, 2011, the Company had 58 consolidated subsidiaries.
Product & services : Electornic point of sale system
Point of sale peripherals
Printers (Standard/Industrial/Portable) RFID products
Electronic cash registers
Brand : TOSHIBA PROTECH
Purchases
International : Japan, Singapore, Taiwan
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of warehouse and administrative office.
Branches : In addition, the Subject operates from branch office located at:
411 Ferntree Gully Road
Mt. Waverly VIC 3149
Australia
Tel: +61 3 85417980
SUMMARIZED COUNTRY RISK
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 41.385 billion
Gross domestic product - GDP : US$ 1.235 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 55,590
GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
Unemployment rate : 2008: 4.2%
2009: 5.6%
2010: 5.2%
Public debt
(General Government gross debt as a % GDP) : 2008: 11.6%
2009: 17.6%
2010: 22.3%
Government bond ratings : Standard & Poor's: AAA/Stable/A-1+ Moody's rating: Aaa
Moody's
outlook: STA
Market value of publicly traded shares : US$1.258 trillion
Largest companies in the country : Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra (Telecommunications)
Trade & Competitiveness Overview
Total exports : US$210.7 billion
Exports commodities : coal, iron ore, gold, meat, wool, alumina, wheat
Total imports : US$187.2 billion
Imports commodities : machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products
Export - major partners : Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners : China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows : 2007: US$45,477 million
2008: US$46,722 million
2009: US$22,572 million
FDI Outflows : 2007: US$16,822 million
2008: US$32,819 million
2009: US$18,426 million
Best countries for doing business : 10 out of 183 countries
Global competitiveness ranking : 16 (ranking by country on a basis of 133, the first is the best)
Country and Population Overview
Total population : 22.23 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian dollars (AUD)
Internet users as % of total population: 74.00%
PAYMENT HISTORY
Purchase Term
International : Prepayment, Credit up to 90 days
Sales Term
Local : Prepayment, Credit up to 90 days
International : Prepayment, Credit up to 90 days
Trade Reference/ Payment
Behaviour
Comments : As local and international trade references
were not supplied, the Subject's payment track record history cannot be
appropriately determined but based on our research, payments are believed to be
met without delay.
Investigation Note
Sources : Interviews and material provided by the
Subject
: Other official and local
business sources
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.02 |
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|
1 |
Rs.77.13 |
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Euro |
1 |
Rs.67.55 |
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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.