MIRA INFORM REPORT

 

 

Report Date :

27.02.2012

 

IDENTIFICATION DETAILS

 

Name :

FUJIFILM HOLDINGS CORPORATION

 

 

Registered Office :

9-7-3 Akasaka Minatoku Tokyo 107-0052

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

January 1934

 

 

Com. Reg. No.:

0104-01-065370 (Tokyo-Minatoku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Holding company of major three subsidiaries

 

 

No. of Employees :

81,387

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

Yen 74,767.0 Million

Status :

Good

Payment Behaviour :

Regular

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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 and address

 

FUJIFILM HOLDINGS CORPORATION

REGD NAME:    Fuji Film Holdings KK

MAIN OFFICE:  9-7-3 Akasaka Minatoku Tokyo 107-0052 JAPAN

                                    Tel: 03-6271-1111     -

 

URL:                 http://www.fujifilmholdings.com

E-Mail address: (thru the URL)

 

 

ACTIVITIES

 

Holding company of major three subsidiaries

 

BRANCHES   

 

(subsidiaries)

 

OVERSEAS   

 

(subsidiaries)

 

FACTORIES  

 

(subsidiaries)

 

 

CHIEF EXEC

 

SHIGETAKA KOMORI, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 　A/SALES       Yen 2,217,084 M

PAYMENTS                  REGULAR         　CAPITAL        Yen 40,363 M

TREND             UP                    　WORTH         Yen 1,850,871 M

STARTED                     1934                 　EMPLOYES   81,387

 

 

COMMENT

 

HOLDING COMPANY OF FUJIFILM GROUP FIRMS 

FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 74,767.0 MILLION, 30 DAYS NORMAL TERMS

 

                        Forecast figures for the 31/03/2012 fiscal term.

 

 

HIGHLIGHTS

 

This is the Holding Company of Fujifilm group firms, organized Oct 2006.  As of the date, Fuji Photo Film Co Ltd was transferred into a holding company and renamed as captioned.  The businesses of Fuji Photo Film have been taken over by Fujifilm Corporation, which is a newly established operating company.  Three major subsidiaries are: Fujifilm Corporation, Fuji Xerox Co Ltd and Toyama Chemical Co Ltd.

 

 

FINANCIAL INFORMATION

 

            The sales volume for Mar/2011 fiscal term amounted to Yen 2,217,084 million, a 63% up from Yen 2,181,693 million in the previous term.  Sales rose thanks to increased exports to China and other emerging economies.  By Divisions, Imaging Solutions down 5.7% to Yen 325,804 million; Information Solutions up 1.8% to Yen 917,391 million; Document Solutions up 4.1% to Yen 973,889 million.  The recurring profit was posted at Yen 117,105 million and the net profit at Yen 63,852 million, respectively, compared with Yen 41,999 million recurring loss and Yen 38,441 million net losses, respectively, a year ago. 

 

            (Apr/Dec/2011 results): Sales Yen 1,618,513 million (down 2.0%), operating profit Yen 85,566 million (down 30.1%), recurring profit Yen 57,685 million (down 47.1%9, net profit Yen 23,696 million (down 59.4%).  (% compared with the corresponding period a yea ago).

           

            For the current term ending Mar 2012 the recurring profit is projected at Yen 78,000 million and the net profit at Yen 28,000 million, on a 0.8% fall in turnover, to Yen 2,200,000 million.  Profits will be slumped on the strong Yen and economic weakness in key overseas markets, sagging sales of lucrative LCD films and soaring silver and other material costs.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 74,767.0 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:　Jan 1934

Regd No.:         0104-01-065370 (Tokyo-Minatoku)

Legal Status:      Limited Company (Kabushiki Kaisha

Authorized:       800 million shares

Issued:                514,625,728 shares

Sum:                   Yen 40,363 million

 

Major shareholders (%): Japan Trustee Services T (6.8), Company’s Treasury Stock (6.3), Master Trust Bank of Japan T (5.8), Nippon Life Ins (3.9), State Street Bank & Trust (3.6), Japan Trustee Services T9 (2.4), Chuo Mitsui Trust (2.1), SMBC (2.0), Moxley & Co FBO Holders of DR (2.0), SSBT OD03 Omnibus Acct Treaty (1.9); foreign owners (37.6)

 

No. of shareholders: 61,226

Listed on the S/Exchange (s) of: Tokyo, Osaka, Nagoya, Fukuoka, Sapporo

 

Managements: Shigetaka Komori, pres; Shigehiro Nakajima, v pres; Haruhiko Yoshida, s/mgn dir; Nobuaki Inoue, s/mgn dir; Nobuyuki Watabe, s/mgn dir; Toru Takahashi, s/mgn dir; Koichi Tamai, s/mgn dir

 

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

 

Related companies: Fuji Film Corp, Fuji Xerox Co, Toyama Chemical Co, other.

 

 

OPERATION

           

Activities: Develops, produces, sales and services of:

Imaging Solutions (15%); color films, digital cameras, photofinishing equipment, color paper, chemicals & services of photofinishing, etc;

Information Solutions (41%): equipment & materials for medical system and life science, equipment & materials for graphic arts, flat panel display materials, etc;

Document Solutions (44%): office copy machines, MFPs, printers, production systems & services, paper, consumable and office services, etc

Overseas Sales Ratio (53%)

           

Clients: [Mfrs, wholesalers] Fujifilm Corp, Fujifilm Graphic Systems, Fujifilm Medical,

Fujifilm Opto Materials, other

No. of accounts: 1,000

Domestic areas of activities: Nationwide

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

SMBC (H/o)

Chuo Mitsui Trust Bank (H/O)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2011

31/03/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

2,217,084

2,181,693

 

  Cost of Sales

1,313,103

1,316,835

 

      GROSS PROFIT

903,981

864,858

 

  Selling & Adm Costs

767,625

906,970

 

      OPERATING PROFIT

136,356

-42,112

 

  Non-Operating P/L

-19,251

113

 

      RECURRING PROFIT

117,105

-41,999

　

      NET PROFIT

63,852

-38,441

BALANCE SHEET

 

 

 

 

  Cash

　

313,070

406,177

 

  Receivables

 

490,554

479,972

 

  Inventory

 

342,165

303,120

 

  Securities, Marketable

23,188

61,362

 

  Other Current Assets

141,866

159,918

 

      TOTAL CURRENT ASSETS

1,310,843

1,410,549

 

  Property & Equipment

564,065

601,665

 

  Intangibles

 

388,667

371,054

 

  Investments, Other Fixed Assets

445,266

444,160

 

      TOTAL ASSETS

2,708,841

2,827,428

 

  Payables

 

261,373

261,552

 

  Short-Term Bank Loans

70,343

155,379

 

　

 

　

　

 

  Other Current Liabs

254,742

244,050

 

      TOTAL CURRENT LIABS

586,458

660,981

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

119,314

140,269

 

  Reserve for Retirement Allw

78,806

78,253

 

  Other Debts

　

73,392

72,096

 

      TOTAL LIABILITIES

857,970

951,599

 

      MINORITY INTERESTS

 

 

 

Common stock

40,363

40,363

 

Additional paid-in capital

73,956

70,283

 

Retained earnings

1,917,659

1,868,362

 

Evaluation p/l on investments/securities

(206,858)

(150,288)

 

Others

 

128,345

129,722

 

Treasury stock, at cost

(102,594)

(82,613)

 

      TOTAL S/HOLDERS` EQUITY

1,850,871

1,875,829

　

      TOTAL EQUITIES

2,708,841

2,827,428

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2011

31/03/2010

 

Cash Flows from Operating Activities

　

199,354

314,826

 

Cash Flows from Investment Activities

-130,760

-131,204

 

Cash Flows from Financing Activities

-146,382

-42,609

　

Cash, Bank Deposits at the Term End

　

313,070

406,177

ANALYTICAL RATIOS            Terms ending:

31/03/2011

31/03/2010

 

 

Net Worth (S/Holders' Equity)

1,850,871

1,875,829

 

 

Current Ratio (%)

223.52

213.40

 

 

Net Worth Ratio (%)

68.33

66.34

 

 

Recurring Profit Ratio (%)

5.28

-1.93

 

 

Net Profit Ratio (%)

2.88

-1.76

 

 

Return On Equity (%)

3.45

-2.05

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.06

UK Pound

1

Rs.77.19

Euro

1

Rs.65.57

 

 

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.