MIRA INFORM REPORT

 

 

Report Date :           

14.03.2012

 

IDENTIFICATION DETAILS

 

Name :

KONICA MINOLTA BUSINESS TECHNOLOGIES INC

 

 

Registered Office :

Marunouchi Center Bldg, 1-6-1 Marunouchi Chiyodaku Tokyo 100-0005

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

October 2002

 

 

Com. Reg. No.:

0100-01-085090 (Tokyo-Chiyodaku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of printers, copiers, facsimiles, other office supplies

 

 

No. of Employees :

1,958

 

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 10,845.1 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

 

KONICA MINOLTA BUSINESS TECHNOLOGIES INC

 

 

REGD NAME

 

Konica Minolta Business Technologies KK

 

 

MAIN OFFICE

 

Marunouchi Center Bldg, 1-6-1 Marunouchi Chiyodaku Tokyo 100-0005 JAPAN

Tel: 03-6250-2250     Fax: 03-3218-1379

 

URL:                             http://konicaminolta.jp/ (of the parent, Konica Minolta Holdings Inc)

E-Mail address:            (thru the URL)

 

 

ACTIVITIES

 

Mfg of printers, copiers, facsimiles, other office supplies

 

 

BRANCHES

 

Hachioji, Hino, Atsugi

 

 

FACTORIES

 

Hachioji, Toyokawa (3), Itami, Atsugi (-subsidiaries)

 

 

OFFICERS

 

MASAE YAMANA, PRES          Yoshiaki Takei, mgn dir

Nobuyasu Ieji, mgn dir                Atsushi Harada, dir

Shingo Asai, dir                         Hiroyuki Takahashi, dir

 

Yen Amount:     In million Yen, unless otherwise stated

SUMMARY

 

FINANCES                    FAIR                 A/SALES          Yen 285,384 M

PAYMENTS      REGULAR         CAPITAL           Yen 500 M

TREND             SLOW              WORTH            Yen 130,459 M

STARTED                     2002                 EMPLOYES      1,958

 

 

COMMENT

 

MFR SPECIALIZING IN PRINTERS, COPIERS, FAX MACHINES, OTHER  OFFICE SUPPLIES, OWNED BY KONICA MINOLTA HOLDINGS INC. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY  BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 10,845.1 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

           

The subject company was established on basis of office supply mfg division separated        from the then Konica KK, and renamed as captioned in Aug 2003 when Minolta KK and Konica KK merged to form Konica Minolta Holdings Inc.  This is the core of the Konica Minolta group, specializing in mfg copiers, printers, FAX machines and other office supplies & equipment.              Goods are also exported to about 40 countries worldwide through the group’s overseas offices & subsidiaries.

 

 

FINANCIAL INFORMATION

 

Financials are consolidated by the parent and disclosed only in digested form.

 

The sales volume for Mar/2011 fiscal term amounted to Yen 285,384 million, a 10% up from Yen 260,502 million in the previous term.  Sales of color MFPs for offices increased.  Exports were robust.  Sales of printers rose, driven by sharp rises in sales volumes of color machines for Europe and OEMs.  Exports surged.  The recurring profit was posted at Yen 19,768 million and the net profit at Yen 11,721 million, respectively, compared with Yen 19,251 million recurring profit and Yen 11,359 million net profit, respectively, a year ago.

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 20,000 million and the net profit at Yen 12,000 million, respectively, on a 3% rise in turnover, to Yen 295,000 million.  Color printers and other high-value-added printers are growing.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 10,845.1 million, on 30 days normal terms.

 

 

 

REGISTRATION

 

Date Registered:  Oct 2002

Regd No.:         0100-01-085090 (Tokyo-Chiyodaku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         40,000 shares

Issued:                10,000 shares

Sum:                   Yen 500 million

Major shareholders (%): Konica Minolta Holdings Inc*(100)

 

*.. Holding company of merged Minolta KK and Konica KK, formed in 2003, listed Tokyo,    Osaka S/E’s, capital Yen 37,519 million, turnover Yen 777,953 million, operating profi Yen 40,022 million, recurring profit Yen 33,155 million, net profit Yen 25,896 million, total assets Yen 845,453 million, net worth Yen 428,987 million, employees 37,007, pres Masatoshi Matsuzaki.

 

Consolidated Financials are attached (See SUPPLEMENTS)

 

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

 

 

OPERATION

 

Activities: Manufactures color copiers, color PC printers, Facsimile machines, other  office equipment and supplies (--100%).  Good portion of the goods are exported.

 

Clients: [Wholesaler] Shipped wholly to Konica Minolta Business Solutions (group firm)      for distribution domestically and overseas.

            No. of accounts: 1 (Direct client)

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Supplied from group firms.

 

Payment record: Regular

 

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

 

Bank References:

MUFG (Nihombashi)

SMBC (H/O)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

295,000

285,384

260,502

329,211

Recur. Profit

　

20,000

19,768

19,251

39,125

Net Profit

　

12,000

11,721

11,359

22,382

Total Assets

　

　

193,146

188,121

207,808

Current Assets

　

　

74,994

71,455

119,803

Current Liabs

　

　

55,378

49,045

76,567

Net Worth

　

　

130,459

130,005

122,275

Capital, Paid-Up

　

　

500

500

500

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.37

9.55

-20.87

-15.39

    Current Ratio

 

..

135.42

145.69

156.47

    N.Worth Ratio

..

67.54

69.11

58.84

    R.Profit/Sales

 

6.78

6.93

7.39

11.88

    N.Profit/Sales

4.07

4.11

4.36

6.80

    Return On Equity

..

8.98

8.74

18.30

 

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

 

 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, KONICA MINOLTA HOLDINGS INC

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2011

31/03/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

777,953

804,465

 

  Cost of Sales

423,372

439,978

 

      GROSS PROFIT

354,580

364,486

 

  Selling & Adm Costs

314,558

320,498

 

      OPERATING PROFIT

40,022

43,988

 

  Non-Operating P/L

-6,867

-3,170

 

      RECURRING PROFIT

33,155

40,818

　

      NET PROFIT

25,896

16,931

BALANCE SHEET

 

 

 

 

  Cash

　

87,886

85,533

 

  Receivables

 

163,363

177,720

 

  Inventory

 

100,243

98,263

 

  Securities, Marketable

87,261

79,000

 

  Other Current Assets

63,123

48,737

 

      TOTAL CURRENT ASSETS

501,876

489,253

 

  Property & Equipment

190,701

205,057

 

  Intangibles

 

88,371

99,074

 

  Investments, Other Fixed Assets

64,505

72,413

 

      TOTAL ASSETS

845,453

865,797

 

  Payables

 

74,640

83,118

 

  Short-Term Bank Loans

50,018

58,231

 

　

 

　

　

 

  Other Current Liabs

117,822

125,964

 

      TOTAL CURRENT LIABS

242,480

267,313

 

  Debentures

 

70,000

40,000

 

  Long-Term Bank Loans

48,033

71,625

 

  Reserve for Retirement Allw

44,734

54,246

 

  Other Debts

　

11,218

11,838

 

      TOTAL LIABILITIES

416,465

445,022

 

      MINORITY INTERESTS

 

 

 

Common stock

37,519

37,519

 

Additional paid-in capital

204,140

204,140

 

Retained earnings

211,467

193,790

 

Evaluation p/l on investments/securities

478

741

 

Others

 

(22,947)

(13,672)

 

Treasury stock, at cost

(1,670)

(1,743)

 

      TOTAL S/HOLDERS` EQUITY

428,987

420,775

　

      TOTAL EQUITIES

845,453

865,797

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2011

31/03/2010

 

Cash Flows from Operating Activities

　

67,957

113,377

 

Cash Flows from Investment Activities

-44,738

-40,457

 

Cash Flows from Financing Activities

-12,928

-43,803

　

Cash, Bank Deposits at the Term End

　

175,148

164,146

ANALYTICAL RATIOS            Terms ending:

31/03/2011

31/03/2010

 

 

Net Worth (S/Holders' Equity)

428,987

420,775

 

 

Current Ratio (%)

206.98

183.03

 

 

Net Worth Ratio (%)

50.74

48.60

 

 

Recurring Profit Ratio (%)

4.26

5.07

 

 

Net Profit Ratio (%)

3.33

2.10

 

 

Return On Equity (%)

6.04

4.02


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.85

UK Pound

1

Rs.77.97

Euro

1

Rs.65.62

 

 

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.