MIRA INFORM REPORT
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Report Date : |
21.01.2012 |
IDENTIFICATION DETAILS
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Name : |
HITACHI POWER TOOLS AUSTRALIA PTY. LTD. |
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Registered Office : |
Unit 1, 10 Boden Road, Seven Hills, New South Wales, Zip/postal code 2147 |
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Country : |
Australia |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
01.02.1996 |
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Com. Reg. No.: |
072677153 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Wholesale distribution of power tools |
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No. of Employees : |
75 |
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 : |
USD 1,300,000 |
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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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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 30th, 2011
|
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 : HITACHI POWER TOOLS AUSTRALIA PTY. LTD.
Business address : Unit 1, 10 Boden Road
Town : Seven Hills
Province : New South Wales
Zip/postal code : 2147
Country : Australia
Tel : +61 2 88878100
Fax : +61 2 88878180
Email : enquiry@hitachi-powertools.com.au
Website : www.hitachi-powertools.com.au
Registered address : Unit 1, 10 Boden Road
Town : Seven Hills
Province : New South Wales
Zip/postal code : 2147
Country : Australia
Postal address : P.O. Box 6645
Town : Blacktown DC
Province : New South Wales
Zip/postal code : 2148
Country : Australia
Summary details
Executive Summary
Date founded or registered : 01/02/1996
Legal form : Australian Proprietary Company
Chief executive : Hiromichi Tanabe
Issued & paid up capital : AUD 6,000,000
Sales turnover : AUD 71,821,556 (Non-consolidated 12 months, 31/03/2011)
Net income : AUD 1,081,953 (Non-consolidated 12 months, 31/03/2011)
Total fixed assets : AUD 34,186,765 (Non-consolidated 12 months, 31/03/2011)
Line of business : Wholesale distribution of power tools.
Staff employed : 75 employees (Subject); 372,360 employees (Hitachi Group)
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 1,300,000
Credit amount asked : USD 300,000
Comments : Larger credit can still be considered. The Subject is well positioned in the
market and the financial stability of the group is positive.
Statutory details
Registry Data
Registration date : 01/02/1996
Legal form : Australian Proprietary Company
Registration no : Australian Company Number: 072677153
Registered authority : Australian Securities & Investments Commission
Fiscal/ Tax no : Australian Business Number: 27072677153
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Management / directors
Key Management
Name : Hiromichi Tanabe
Designation : Managing Director
Name : Robert Hulston
Designation : Operation Manager
Name : Simon Hatton
Designation : Product Manager
Board of directors / other
appointments
Appointments
Name : Daigo Morii
Designation : Director
Appointment date : 01/12/10
Address : Hitachinaka, Ibaraki Prefecture, Japan
Biography : Born on 12-10-1965 in Tokyo, Japan.
Name : Koji Fujita
Designation : Director
Appointment date : 01/08/11
Address : 1 Sergeants Lane
St Leonards, NSW 2065
Australia
Biography : Born on 12-08-1953 in Miyazaki, Japan.
Name : Hiromichi Tanabe
Designation : Director
Appointment date : 01/04/06
Address : Shirokane Minato, Tokyo Japan
Biography : Born on 08-01-1962 in Mito, Ibaraki Prefecture, Japan.
Name : Wafaa Alassad
Designation : Company Secretary
Appointment date : 20/04/04
Address : 188 Madagascar Drive
Kings Park, NSW 2148
Australia
Biography : Born on 10-02-1953 in Port-Said, Egypt.
Staff employed : 75 employees (Subject); 372,360 employees (Hitachi Group)
Key Advisors
Auditors : ERNST
& YOUNG
680 George Street
Sydney, NSW 2000
Australia
Share capital
Composition
Authorized Capital : AUD 6,000,000
No of shares : 6,000,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 6,000,000
Paid up capital : AUD 6,000,000
ownership / shareholders
How listed : Full List
Composition
Shareholder name : HITACHI KOKI CO., LTD.
Address : Shinagawa Intercity Tower A, 20th Floor
15-1, Konan 2-chome
Minato-ku, Tokyo 108-6020
Japan
No. of shares : 6,000,000 Ordinary Shares
% of shares : 100%
Related companies & corporate Affiliations
Structure
Name : HITACHI, LTD.
Affiliation type : Ultimate Holding Company
Address : 6-6, Marunouchi 1-chome
Chiyoda-ku, Tokyo, 100-8280
Japan
Comments : Hitachi, Ltd. manufactures and sells electronic and electrical products primarily in Asia, North
America, and Europe.
Its Information & Telecommunication Systems segment provides systems integration, outsourcing services, software, disk array subsystems, servers, mainframes, telecommunications equipment, and ATMs.
The company’s Power Systems segment offers thermal, nuclear, hydroelectric, and wind power generation systems.
Its Social Infrastructure & Industrial Systems segment provides industrial machinery and plants, elevators, escalators, and railway vehicles and systems.
The company’s Electronic Systems & Equipment segment offers semiconductor and LCD manufacturing equipment, test and measurement equipment, medical electronics equipment, power tools, and electronic parts manufacturing systems.
Its Construction Machinery segment
provides hydraulic excavators, wheel loaders, and mining dump trucks.
The company’s High Functional Materials & Components segment offers wires and cables, copper products, semiconductor and display-related materials, circuit boards and materials, specialty steels, magnetic materials and components, and casting components and materials.
Its Automotive Systems segment provides engine management systems, electric power train systems, drive control systems, and car information systems.
Hitachi’s Components & Devices segment offers HDDs, LCDs, information storage media, and batteries.
Its Digital Media & Consumer Products segment provides optical disk drives, flat-panel TVs, LCD projectors, mobile phones, room air conditioners, refrigerators, washing machines, and air-conditioning equipment.
The company’s Financial Services segment offers leasing services and loan guarantees.
Its Others segment provides logistics and property management services. The company serves industrial companies, financial institutions, utilities, governments, and individual customers. Hitachi was founded in 1910 and is headquartered in Tokyo, Japan.
Name : HITACHI KOKI CO., LTD.
Affiliation type : Parent Company
Address : Shinagawa Intercity Tower A, 20th Floor
15-1, Konan 2-chome
Minato-ku, Tokyo 108-6020
Japan
Comments : Hitachi Koki Co., Ltd. engages in the
manufacture and sale of power tools and life-science instruments. Its power
tool products include metalworking power tools, woodworking power tools,
cordless power tools, construction power tools, pneumatic tools, woodworking
machines, outdoor power equipment, gardening tools, household power tools, dust
collectors, and measure laser tools, as well as accessories, such as diamond
tools and consumable parts. The company’s life-science instruments comprise
ultra, refrigerated, micro, compact, and continuous flow centrifuges. It
primarily operates in
Name : HITACHI KOKI (SINGAPORE) PTE. LTD.
Affiliation type : Sister Company
Address : No. 12 Tuas Road Jurong Industrial Estate Singapore 638486
Singapore
Name : HITACHI POWER TOOLS EUROPE GMBH
Affiliation type : Sister Company
Address : Siemensring 34
D-47877 Willich
Germany
Name : HITACHI POWER TOOLS NETHERLANDS B.V.
Affiliation type : Sister Company
Address : Brabanthaven 11
3433 PJ Nieuwegein
Netherlands
Name : HITACHI POWER TOOLS (UK) LIMITED
Affiliation type : Sister Company
Address : Precedent Drive
Rooksley,
Milton Keynes MK13 8PJ United Kingdom
Name : HITACHI POWER TOOLS FRANCE S.A.
Affiliation type : Sister Company
Address : Parc del' Eglantier 22
rue des Crerisiers Lisses
C.E. 1541, 91015 Evry Cedex
France
Name : HITACHI KOKI ASIA CO., LTD.
Affiliation type : Sister Company
Address : Unit A-D, 11th Floor, CDW Building
388
Castle Peak Road, Tsuen Wan, N.T. Hong Kong
Name : HITACHI POWER TOOLS POLSKA SP.Z O.O
Affiliation type : Sister Company
Address : Kleszczowa 27
02-485 Warzsawa
Poland
Name : HITACHI POWER TOOLS IBERICA, S.A.
Affiliation type : Sister Company
Address : C.Migjorn, s/n, Poligono Norte,
08226 Terrassa
Barcelona
Spain
Related
companies and corporate affiliations comments
Other companies of the Hitachi Group should be considered
affiliates of the Subject.
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 :
Exchange rate : 1 USD = AUD 0.96 as of 20-01-2012
Summarized Financial Information
Consolidation
type : Non Consolidated Non
Consolidated Group
Consolidated Currency : Australia Dollar (AUD) Australia Dollar (AUD) Japan, Yen (JPY) Denomination : (x1) One (x1) One (x1)
One
Date of financial year end : 31/03/11 31/03/10 31/03/11
Length of accounts : 12 months 12 months 12 months
Sale turnover / Income : 71,821,556 68,160,962 9,315,807,000,000
Profit before tax : 1,572,732 1,981,775 432,201,000,000
Net income : 1,081,953 1,427,705 303,126,000,000
Non current assets : 1,098,202 1,132,690 4,285,600,000,000
Current assets : 33,088,563 30,637,716 4,900,029,000,000
Inventories : 18,569,953 14,452,888 1,341,768,000,000
Total assets : 34,186,765 31,770,406 9,185,629,000,000
|
Current
liabilities : |
20,230,097 |
18,213,531 |
4,088,824,000,000 |
|
Non current
liabilities : |
105,290 |
73,450 |
2,655,416,000,000 |
|
Total
liabilities : |
20,335,387 |
18,286,981 |
6,744,240,000,000 |
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Share equity : |
13,851,378 |
13,483,425 |
2,441,389,000,000 |
|
Retained earning : |
7,851,378 |
7,483,425 |
922,036,000,000 |
Comments : The non-consolidated financial information above relates to the Subject only.
The group’s consolidated financial information above relates to the Subject’s Ultimate Holding Company Hitachi, Ltd and all its subsidiaries which include the Subject.
Operation details
Main activities : The Subject is engaged in distribution
of Hitachi brand power tools in
The Subject is part of Hitachi, Ltd. which is a diversified
company that has 11 business segments. Information and Telecommunication System
segment provides system integration services, servers and communication
devices. Electricity System segment provides nuclear, fire, hydraulic and wind
power generation systems. Social and Industrial System segment provides
industrial machinery and plants. Electronic Device and System segment offers
liquid crystal displays (LCD) and semiconductor manufacturing devices and
others. Construction segment provides hydraulic shovels and wheel loaders. High
Functional Material segment offers electric wires, cables and semiconductor
materials. Automotive System segment provides engine management and in-car
information systems. Component and Device segment offers hard disk drives and
LCDs. Digital Media and Consumer Product segment provides optical disk drives
and refrigerators. The Financial Service segment provides leasing and loan
services. The Others segment manages real estate.
Product & services : Metalworking power tools, woodworking
power tools, cordless power tools, construction power tools, pneumatic tools
(nailers, screwdrivers and compressors for nailers), woodworking machines,
outdoor power equipment, gardening tools, household power tools, dust
collectors, measure laser tools, accessories (diamond tools and consumable
parts)
Brand : Hitachi Power Tools
Purchases
International : Asian countries
Sales
Local : Yes
International : Pacific Island
Key events : R&I Affirms Rating on Hitachi Koki
Co., Ltd. at "A"; Rating Outlook Stable
Tuesday,
27 Dec 2011
Rating and Investment
Information, Inc. (R&I) announced that it has affirmed the rating on
Hitachi Koki Co., Ltd. at "A". The rating outlook is stable.
Hitachi Koki Co., Ltd. Lowers
Consolidated Full-year Outlook for FY Ending March 2011
Monday, 8 Nov 2010
Hitachi Koki Co., Ltd. announced
that it has lowered its consolidated full-year outlook for revenue from JPY
134,000 million to JPY 121,000 million, operating profit from JPY 7,800 million
to JPY 4,200 million, ordinary profit from JPY 7,500 million to JPY 4,100
million, net profit from JPY 4,600 million to JPY 1,600 million and earning per
share from JPY 45.36 to JPY 15.78 for the fiscal year ending March
2011.The Company lowered the outlook due to the fierce business
conditions and the impact of the higher yen. According to Reuters Estimates,
analysts on average are expecting the Company to report full-year revenue of
JPY 127,600.00 million and net profit of JPY 3,483.33 million.
Hitachi Koki Co., Ltd. Announces
Result for Investigation of Subsidiary's Inappropriate Trade and Account
Processing
Monday, 1 Nov 2010
Hitachi Koki Co., Ltd. announced
the result for investigation of inappropriate trade and account processing of a
subsidiary, Hitachi Power Tools Europe GmbH(HTE), which was disclosed on
October 5, 2010. According to the result, HTE has made falsified evidence and
made fictional sales records. The Company will take measures to prevent similar
things from happening again.
Hitachi Koki Co., Ltd. Announces Subsidiary's Inappropriate Accounting Procedures
Tuesday, 5 Oct 2010
Hitachi Koki Co., Ltd. announced that its subsidiary, Hitachi Power Tools Europe GmbH, is identified to have inappropriate accounting procedures.
Hitachi Koki Co., Ltd. Lowers Consolidated Mid-year and Full-year
Guidance for FY Ending March 31, 2011
Tuesday, 27 Jul 2010
Hitachi Koki Co., Ltd. announced that the Company has lowered the consolidated mid-year guidance for revenue from JPY 67,000 million to JPY 63,000 million, operating profit from JPY 4,200 million to JPY 2,100
million, ordinary profit from JPY 4,000 million to JPY 2,000 million, net profit from JPY 2,500 million to JPY 1,000 million and earning per share from
JPY 24.65 to
JPY 9.86 for the fiscal year ending March 31, 2011. The Company has also
lowered the consolidated full-year guidance for revenue from JPY 140,000
million to JPY 134,000 million, operating profit from JPY
10,000 million to JPY 7,800 million, ordinary profit from
JPY 9,500 million to
JPY 7,500
million, net profit from JPY 6,000 million to JPY 4,600 million and earning per
share from JPY 59.17 to JPY 45.36 for the fiscal year ending March 31, 2011.
The Company lowered the consolidated mid-year and full-year outlook due to
appreciating yen. According to Reuters Estimates, analysts on average were
expecting the Company to report
full-year
revenue of JPY 130,000 million, operating profit of JPY 7,600 million and net
profit of JPY 4,400 million.
R&I Affirms Rating on Hitachi Koki Co., Ltd. at
"A"; Rating Outlook Stable
Wednesday, 7 Jul 2010
Rating and
Investment Information, Inc. (R&I) announced that it has affirmed the
rating on Hitachi Koki Co., Ltd. at "A". The rating outlook is
stable.
Hitachi Koki
Co., Ltd. Issues FY 2011 Outlook Above Analysts' Estimate and Issues Year-end
Dividend Outlook for FY Ending 2011-Jiji Press Monday, 26 Apr 2010
Jiji Press
reported that Hitachi Koki Co., Ltd. has issued its consolidated full-year
outlook for revenue of JPY 140.00 billion, operating profit of JPY
10.00 billion,
pretax profit of JPY 9.50 billion, net profit of JPY 6.00 billion and earning
per share of JPY 59.17 for the fiscal year ending March 2011. According to
Reuters Estimates, analysts on average are expecting the
Company to
report full-year revenue of JPY 125,600 million and net profit of JPY 4,500
million. The Company also issued its first quarter, second quarter, third
quarter and year-end dividend outlook of JPY 6 per share, respectively, for the
same fiscal year.
Hitachi Koki
Co., Ltd. Issues Mid-year Outlook for FY Ending March 2011- Dow Jones Monday,
26 Apr 2010
DJ reported that Hitachi Koki Co., Ltd. has issued its consolidated mid-year outlook for revenue of JPY 67.00 billion, operating profit of JPY 4.20 billion, pretax profit of JPY 4.00 billion, net profit of JPY 2.50 billion and earning per share of JPY 24.65 for the first half of the fiscal year ending March 2011.
Hitachi Koki Co., Ltd. Appoints New Chairman and President
Wednesday, 31 Mar 2010
Hitachi Koki
Co., Ltd. announced that it has appointed Yasuyuki Konishi as new Chairman of
the Board and Chief Executive Officer, and appointed Kiyoshi Kato as new
President of the Company, effective June 25, 2010.
Property & Assets
Premises : The subject operates from head office
located at the verified heading address consisting of administrative office and
warehouse.
Branches : In addition, the Subject operates from
branch office located:
48 Vinnicombe Drive
Canning Vale, WA 6155
Australia
+61 8 94554500
Other property : Total NBV of property, plant and
equipment as of 31-03-2011 was AUD 634,254.
Summarized country risk
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.448 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 64,351
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 :
Westpac Banking Group (Major Banks),
BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major
Banks), National Australia Bank (Major Banks), ANZ Banking (Major Banks),
Telstra (Telecommunications services), Wesfarmers (Food Retail)
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 2008: US$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI Outflows 2008: US$32,819 million
2009: US$18,426 million
2010: US$26,431 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
: 76.00%
Payment history
Purchase Term
International : L/C, Telegraphic transfer, Credit 30-90
days
Sales Term
Local : Prepayment, Bank transfer, Credit 30-90
days
International : L/C, Telegraphic transfer, Credit 30-90
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.33 |
|
UK Pound |
1 |
Rs.77.97 |
|
Euro |
1 |
Rs.65.07 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.