MIRA INFORM REPORT

 

 

Report Date :           

14.01.2012

 

IDENTIFICATION DETAILS

 

Name :

TOSHIBA ELEVATOR AND BUILDING SYSTEMS CORPORATION

 

 

Registered Office :

6-5-27 Kitashinagawa Shinagawaku Tokyo 141-0001

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

February 1967

 

 

Com. Reg. No.:

(Tokyo-Shinagawaku) 006785

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of elevators, escalators

 

 

No. of Employees :

4,877

 

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

 

Maximum Credit Limit :

Yen 4,108.7 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 30th, 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

 

TOSHIBA ELEVATOR AND BUILDING SYSTEMS CORPORATION

 

 

REGD NAME 

 

Toshiba Elevator KK

 

 

MAIN OFFICE

 

6-5-27 Kitashinagawa Shinagawaku Tokyo 141-0001 JAPAN

Tel: 03-5423-3333      Fax: 03-5423-3512

                                               

URL:                             http://www.toshiba-elevator.co.jp

E-Mail address:                        elevator@po.toshiba.co.jp

 

 

ACTIVITIES

 

Mfg of elevators, escalators

 

 

BRANCHES

 

250 nationwide

 

 

OVERSEAS

 

China (2), Korea, Hong Kong, Malaysia (2), Indonesia, Singapore, UAE, Thailand, Taiwan, India

 

 

FACTORIES

 

Fuchu (Tokyo), Uenohara (Yamanashi)

 

OFFICERS

 

SHINICHIRO AKIBA, RPES                    Hiroyuki Terato, mgn dir

Tatsuo Yoshitsugu, mgn dir                    Soichi Matsuzawa, mgn dir

Tetsuya Sakaguchi, mgn dir                    Naoki Kanda, dir                       

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 119,025 M

PAYMENTS      REGULAR                     CAPITAL           Yen 21,407 M

TREND             UP                                WORTH            Yen 74,812 M

STARTED                     1967                             EMPLOYES      4,877

 

 

COMMENT

 

MFG OF ELEVATORS, OWNED BY TOSHIBA CORP.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 4,108.7 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established on the basis of a division separated from Toshiba Corporation (See REGISTRATION).  This is a specialized mfr of elevators, escalators, their parts & attachment.  Offers installation, maintenance, repair, modification, etc services, too.  Clients include major office/residence buildings, hospital, hotels, train stations, other nationwide.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 119,025 million, a 5% up from Yen 113,299 million in the previous term.  The recurring profit was posted at Yen 9,544 million and the net profit at Yen 5,653 million, respectively, compared with Yen 9,046 million recurring profit and Yen 5,811 million net profit, respectively, a year ago.

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 10,000 million and the net profit at Yen 6,000 million, respectively, on a 14% rise in turnover, to Yen 136,000 million.  rders received from newly building Tokyo Sky Tree Building (634 meters high 31 storied building, completing in Feb/2012) for mfg, installation, maintenance, etc of elevators & escalators.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 4,108.7 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Feb 1967

Regd No.:         (Tokyo-Shinagawaku) 006785

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         170 million shares

Issued:             42.8 million shares

Sum:                   Yen 21,407 million

Major shareholders (%): Toshiba Corp* (80), KONE Nederland HD BV (19.6), Security Trading Qy (4)

 

No. of shareholders: 3

 

*.. Toshiba Corp, One of largest comprehensive electrical machinery mfrs, Tokyo, founded 1904, listed Tokyo S/E, capital Yen 439,901 million, sales 6,398,505 million, operating profit Yen 240,273 million, recurring profit Yen 195,549 million, net profit Yen 137,845 million, total assets Yen 5,379,319 million, net worth Yen 1,179,616 million, employees 202,638, pres Morio Sasaki

 

Consolidated Financials are attached (See ATTACHMENTS)

 

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

 

 

OPERATION

           

Activities: Manufactures, installs, maintains, repairs, modifies elevators, escalators, their attachments & components, including removal of them (--100%).

 

Clients: [Mfrs, builders, wholesalers] Toshiba Corp, Mitsui Fudosan Residential Co, Mori Building Co, NTT Urban Development Co, Toyota Motor, Timec Co, Obayashi Corp, Kajima Corp, Shimizu Corp, Takenaka Corp, other 

            No. of accounts: 1,000

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Toshiba Elevator Products, Toshiba Corp, Wavecrest Co, Toshiba Logistics, Toshiba DMS, other

 

Payment record: Regular

 

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

 

Bank References:

·         MUFG (Tokyo)

·         Resona Bank (Tokyo-Chuo)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

136,000

119,025

113,299

119,738

Recur. Profit

　

10,000

9,544

9,046

　

Net Profit

　

6,000

5,653

5,811

1,780

Total Assets

　

　

144,452

132,448

108,467

Current Assets

　

　

41,496

44,992

　

Current Liabs

　

　

36,683

38,745

　

Net Worth

　

　

74,812

66,696

45,050

Capital, Paid-Up

　

　

21,407

21,407

21,407

Div.Total in million(¥)

　

　

6,746

1,806

20,576

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

14.26

5.05

-5.38

-1.23

    Current Ratio

 

..

113.12

116.12

..

    N.Worth Ratio

..

51.79

50.36

41.53

    R.Profit/Sales

 

7.35

8.02

7.98

..

    N.Profit/Sales

4.41

4.75

5.13

1.49

    Return On Equity

..

7.56

8.71

3.95

 

Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

 

SUPPLEMENTS

 

CONSOLIDATED 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.51.43

UK Pound

1

Rs.79.10

Euro

1

Rs.66.17

 

 

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.