MIRA INFORM REPORT

 

 

Report Date :

27.04.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

TOSHIBA STORAGE DEVICE KK

 

 

Registered Office :

2-9 Suehirocho Ome City Tokyo-Metrop 198-0025

 

 

Country :

Japan

 

 

Financials (as on) :

 31.03.2011

 

 

Date of Incorporation :

May 2009

 

 

Com. Reg. No.:

0104-01-081895 (Tokyo-Ome)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of hard disk drive, solid state drive

 

 

No. of Employees :

1,000

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

 

 

Payment Behaviour :

Usually Correct 

 

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

TOSHIBA STORAGE DEVICE KK

 

 

REGD NAME

 

Toshiba Storage Device KK

 

 

MAIN OFFICE

 

2-9 Suehirocho Ome City Tokyo-Metrop 198-0025 JAPAN

Tel: 0428-34-1500

 

*.. Moved to the caption address in Jul 2011 from the former, as given     

                                               

URL:                 http://www.toshiba.co.jp (Of the parent, Toshiba Corp)

 

 

ACTIVITIES

 

Mfg of hard disk drive, solid state drive, other

 

 

BRANCHES

 

Yamagata

 

 

OVERSEAS

 

Thailand, Philippines

 

 

FACTORIES

 

Yamagata; Thailand, Philippines

 

OFFICERS

 

HIRONAO CHOMEI, PRES, PRES

Masakatsu Hattori, dir

Hiroyuki Kuno, dir                                                         

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                 A/SALES          UNDISCLOSED

PAYMENTS      REGULAR         CAPITAL           Yen 10 M

TREND UNDETD           WORTH            Yen 21,292 M

STARTED         2009                 EMPLOYES      1,000

 

 

COMMENT

 

MFR OF HDD, SOLID STATE DRIVE, OTHER, OWNED BY TOSHIBA CORP.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company was established by Toshiba Corp (See REGISTRATION) on the basis of HDD business transferred from Fujitsu Ltd.  Specializes in mfg hard disk drive, solid state drive, other.  Has mfg base in Thailand and Philippines.  Goods are wholly shipped to the parent, Toshiba Corp and group firms.  The firm decreased the paid-in capital in Apr 2011 to Yen 10 million from the previous Yen 350 million.  In July 2011 moved the head office to the captioned.

 

 

FINANCIAL INFORMATION

 

Financial are consolidated by the parent and not disclosed, except the profits at Yen 67 million for Mar/2011 fiscal term and Yen 115 million for Mar/2010 fiscal term, total assets Yen 28,590 million, net worth Yen 21,292 million.  No further details are disclosed.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 


 

REGISTRATION

 

Date Registered:            May 2009

Regd No.:           0104-01-081895 (Tokyo-Ome)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         350,000 shares

Issued:                35,000 shares

Sum:                   Yen 10 million

 

Major shareholders (%): Toshiba Corp* (100)

 

*.. One of largest comprehensive electrical machinery mfrs, Tokyo, founded 1904, listed Tokyo, Osaka, Nagoya, London S/E’s, capital Yen 439,901 million, sales Yen 6,398,505 million, operating profits Yen 240,273 million, recurring profit Yen 195,549 million, net profit Yen 137,845 million, total assets Yen 5,536,671 million, net worth Yen 787,140 million, employees 210,438, pres Norio Sasaki

 

Consolidated Financials are attached (See SUPPLEMENTS)

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Manufactures HDD, solid state drive, other (--100%)

 

Clients: [Mfrs, wholesalers] Toshiba Corp and group firms

            No. of accounts: 100

            Domestic areas of activities: Nationwide

 

Suppliers: Mfrs, wholesalers, other

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned by the parent, Toshiba Corp, and maintained satisfactorily.

 

Bank References:

SMBC (Tokyo)

Mizuho Corporate Bank (H/O)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

NOT DISCLOSED AND UNAVAILABLE.

 

SUPPLEMeNTS:

 

CONSOLIDATEED FINANCIALS OF THE PARENT, TOSHIBA CORP

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2011

31/03/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

6,398,505

6,291,208

 

  Cost of Sales

4,897,547

4,852,002

 

      GROSS PROFIT

1,500,958

1,439,206

 

  Selling & Adm Costs

1,260,685

1,313,958

 

      OPERATING PROFIT

240,273

125,248

 

  Non-Operating P/L

-44,724

-90,835

 

      RECURRING PROFIT

195,549

34,413

　

      NET PROFIT

137,845

-19,743

BALANCE SHEET

 

 

 

 

  Cash

　

258,840

267,449

 

  Receivables

 

1,124,180

1,184,399

 

  Inventory

 

864,382

795,601

 

  Securities, Marketable

　

　

 

  Other Current Assets

552,266

514,157

 

      TOTAL CURRENT ASSETS

2,799,668

2,761,606

 

  Property & Equipment

900,205

978,726

 

  Intangibles

 

　

　

 

  Investments, Other Fixed Assets

1,679,446

1,710,841

 

      TOTAL ASSETS

5,379,319

5,451,173

 

  Payables

 

1,194,229

1,191,885

 

  Short-Term Bank Loans

311,762

257,364

 

　

 

　

　

 

  Other Current Liabs

992,318

1,039,196

 

      TOTAL CURRENT LIABS

2,498,309

2,488,445

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

967,095

1,109,486

 

  Reserve for Retirement Allw

734,309

725,620

 

  Other Debts

　

(10)

0

 

      TOTAL LIABILITIES

4,199,703

4,323,551

 

      MINORITY INTERESTS

 

 

 

Common stock

439,901

439,901

 

Additional paid-in capital

399,552

447,733

 

Retained earnings

551,523

375,376

 

Evaluation p/l on investments/securities

　

　

 

Others

 

(209,899)

(134,083)

 

Treasury stock, at cost

(1,461)

(1,305)

 

      TOTAL S/HOLDERS` EQUITY

1,179,616

1,127,622

　

      TOTAL EQUITIES

5,379,319

5,451,173

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2011

31/03/2010

 

Cash Flows from Operating Activities

　

374,084

451,445

 

Cash Flows from Investment Activities

-214,700

-252,922

 

Cash Flows from Financing Activities

-154,716

-277,861

　

Cash, Bank Deposits at the Term End

　

258,840

267,449

ANALYTICAL RATIOS            Terms ending:

31/03/2011

31/03/2010

 

 

Net Worth (S/Holders' Equity)

1,179,616

1,127,622

 

 

Current Ratio (%)

112.06

110.98

 

 

Net Worth Ratio (%)

21.93

20.69

 

 

Recurring Profit Ratio (%)

3.06

0.55

 

 

Net Profit Ratio (%)

2.15

-0.31

 

 

Return On Equity (%)

11.69

-1.75


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.57

UK Pound

1

Rs.85.03

Euro

1

Rs.69.56

 

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.