MIRA
INFORM REPORT
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Report Date : |
20.10.2012 |
IDENTIFICATION DETAILS
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Name : |
TOSHIBA TEC AUSTRALIA PTY. LTD. |
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Formerly Known As : |
TEC AUSTRALIA PTY. LTD. |
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Registered Office : |
Unit 1, 9 South Street,
Rydalmere, New South Wales, Zip/postal code 2116 |
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Country : |
Australia |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
07.02.1985 |
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Com. Reg. No.: |
002890673 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Marketing, sales, service support and distribution of point of sale systems, cash registers, barcode/ RFID printers, peripherals and software information systems |
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No. of Employees : |
20 employees (Subject) ;
19,823 employees (Toshiba Tec Group) |
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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Status : |
Satisfactory |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Australia - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
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Source : CIA |
Verified Address
Subject name : TOSHIBA TEC AUSTRALIA PTY. LTD.
Business address : Unit 1, 9 South Street
Town : Rydalmere
Province : New South Wales
Zip/postal code : 2116
Country : Australia
Tel : +61 2 88456200
Fax : +61 2 96800892
Website : www.tecaustralia.com.au
Registered address : Unit 1, 9 South Street
Town : Rydalmere
Province : New South Wales
Zip/postal code : 2116
Country : Australia
Postal address : P.O. Box 234
Town : Rydalmere
Province : New South Wales
Zip/postal code : 1701
Country : Australia
Executive Summary
Date founded or registered : 07/02/1985
Legal form : Australian
Proprietary Company
Chief executive : Peter Edward Wells Parry
Issued & paid up capital
: AUD 2,000,000
Sales turnover : JPY 350,604,000,000
(Group consolidated 12 months, 31/03/2012)
Net income JPY 2,566,000,000
(Group consolidated 12 months, 31/03/2012)
Total fixed assets : JPY 276,436,000,000 (Group
consolidated 12 months, 31/03/2012)
Line of business : Marketing, sales, service
support and distribution of point of sale systems, cash
registers, barcode/ RFID printers, peripherals and software
information systems.
Staff employed : 20 employees (Subject) ;
19,823 employees (Toshiba Tec Group)
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 very good
Organisation structure : Organisational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Comments : Larger credit can still be granted if
guaranteed by Parent Company.
Registry Data
Registration date : 07/02/1985
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 002890673
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 93002890673
Registry status : Live/Active
Previous name : TOSHIBA TEC AUSTRALIA
PTY LIMITED
TEC AUSTRALIA PTY. LTD.
TEC RETAIL
SYSTEMS & OFFICE PRODUCTS PTY LTD
EDENGREEN
PTY LTD (initial)
Change of legal form : None reported.
Key Management
Name : Peter Edward Wells
Parry
Designation Managing Director
Appointments
Name : Peter Edward Wells
Parry
Designation : Director
Appointment date : 17/10/11
Address : 3 St Annes Close
Belrose,
NSW 2085
Australia
Biography : Born on 21-07-1949 in
Chatswood, New South Wales, Australia.
Name : Junichi Kawasaki
Designation : Director
Appointment date : 17/10/11
Address : 2-11-6, Kurigidai, Asao-ku
Kawasaki-shi,
Kanagawa 215-0032
Japan
Biography : Born on 26-05-1957 in Fuji
City, Shizuoka, Japan.
Name : Noboru Sawada
Designation : Director
Appointment date : 01/01/12
Address : 512 Miyazawa-Cho
Akishima-Shi,
Tokyo 196-0024
Japan
Biography : Born on 24-07-1961 in
Itabashi, Japan.
Name : Anthony Kenneth Brooks
Designation : Company Secretary
Appointment date : 03/08/94
Address : 5 Adina Road
Curl Curl,
NSW 2096
Australia
Biography : Born on 01-10-1958 in Sydney, New South Wales, Australia.
Staff employed : 20 employees (Subject) ; 19,823
employees (Toshiba Tec Group)
Key Advisors
Auditors : ERNST & YOUNG
Level 45,
680 George Street
Sydney,
NSW 2000
Australia
Composition
Authorized Capital : AUD 2,000,000
No of shares : 2,000,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 2,000,000
Paid up capital : AUD
2,000,000
How listed : Full List
Composition
Shareholder name : TOSHIBA TEC CORPORATION
Address : Gate City Ohsaki West Tower
1-11-1,
Osaki
Shinagawa-ku,
Tokyo 141-0032
Japan
No. of shares : 2,000,000 Ordinary Shares
% of shares : 100%
Structure
Name : TOSHIBA CORPORATION
Affiliation type : Ultimate
Holding Company
Address : 1-1 Shibaura 1-chome
Minato-ku
Tokyo,
105-8001
Japan
Comments :
Toshiba Corporation, together with its subsidiaries, engages in
the research and
development, manufacture, and sale of electronic and electric
products worldwide. It offers digital products, which include LCD TVs,
glasses-free 3D TVs, Blu-ray recorders, notebook personal computers, tablets,
e-book devices, and digital multifunction peripherals; electronic devices and
components, including NAND flash memory, data storage products, and discrete
semiconductors and system LSIs; and infrastructure systems comprising thermal,
nuclear, hydro, and photovoltaic power generation systems, as well as power
transmission and distribution systems, SCIB rechargeable batteries, motors and
generators for power rail and automotive systems, traffic control and disaster
prevention systems, automated and labor-saving equipment, weather radars, water
and environmental systems, medical diagnostic imaging systems, elevators, and
electric locomotives. The company also offers home appliances, which comprise
bulbs and lamps for general use, cold cathode fluorescent lamps for IT
equipment, infrared halogen heaters, UV spot cure systems, air-cooled heat-pump
systems for commercial buildings, automotive lamps, refrigerators, washing
machines, ovens, vacuum cleaners, air purifiers and DC digital hybrid inverter
multi-systems for residential use, air conditioners for light commercial use,
VRF systems for small and mid-size buildings, heating and hot water supply
system for homes, and network control systems. In addition, it offers thermal
print heads, as well as materials and components to support high-tech devices;
and engineering support services for manufacturing activities. Further, the
company offers real time data on power consumption; healthcare cloud services;
various IT services, including planning, consultation, application, and
maintenance; and image visualization software. Toshiba Corporation was founded
in 1875 and is headquartered in Tokyo, Japan.
Name : TOSHIBA TEC CORPORATION
Affiliation type : Parent
Company
Address : Gate City Ohsaki West Tower
1-11-1,
Osaki
Shinagawa-ku,
Tokyo 141-0032
Japan
Comments :
Toshiba Tec Corporation, together with its subsidiaries, engages
in the retail solutions, office solutions, supply chain solutions, and inkjet
head businesses in Japan and internationally. The company offers electronic
cash registers, POS systems and peripheral devices, and double-sided thermal
printers for retail sector; copiers, facsimile machines, other office
automation devices, and multifunction peripherals for the office automation
sector; and auto-ID systems, RFID tags, dot-impact printers, thermal printers,
counter terminals, and printers and related equipment for the supply chain
sector, as well as provides kiosk and signage solutions. It has operations in
Japan, the United States, Canada, Mexico, Puerto Rico, Panama, Venezuela,
Brazil, Chile, the United Kingdom, France, Germany, Belgium, Spain, the
Netherlands, Sweden, Norway, Denmark, Finland, Switzerland, Poland, Singapore,
Malaysia, Indonesia, China, Australia, and Korea. The company was founded in
1950 and is headquartered in Tokyo, Japan. Toshiba Tec Corporation is a
subsidiary of Toshiba Corporation.
Name : TOSHIBA AMERICA BUSINESS SOLUTIONS,
INC.
Affiliation type : Sister
Company
Address : 9740 Irvine Blvd.
Irvine,
California 92618
United
States
Name : TOSHIBA TEC INFORMATION SYSTEMS
(SHENZHEN) CO.,LTD.
Affiliation type : Sister
Company
Address : Area 16, Dayang Development Zone
Fuyong,
Baoan District
Shenzhen
518103
China
Name : TOSHIBA TEC SINGAPORE PTE LTD
Affiliation type : Sister Company
Address : 2 Ang Mo Kio Street 62
Singapore 569138
Singapore
Name : TIM
ELECTRONICS SDN. BHD.
Affiliation type : Sister Company
Address : Plot 111-A, Hala Kampung Jawa 2
Bayan Lepas Industrial
Estate
11900 Penang
Malaysia
Name : P.T.
TEC INDONESIA
Affiliation type : Sister Company
Address : Lot 108-110 Batamindo Industrial Park
Muka Kuning, Batam
Indonesia
Name : TOSHIBA
TEC U.K. IMAGING SYSTEMS LIMITED
Affiliation type : Sister Company
Address : Abbey Cloisters, Abbey Green
Chertsey, Surrey, KT16
8RB
The United Kingdom
Name : TOSHIBA
TEC (H.K.) LOGISTICS & PROCUREMENT LIMITED
Affiliation type : Sister Company
Address : Unit No. 2305-2307, 23/F, The Metropolis Tower
No.10, Metropolis
Drive, Hung Hom, Kowloon
Hong Kong
Name : TOSHIBA
TEC AMERICA RETAIL INFORMATION SYSTEMS, INC.
Affiliation type : Sister Company
Address : 2 Musick
Irvine, California
92618
United States
Related
companies and corporate affiliations comments
Other companies of the Toshiba Tec
Corporation and Toshiba Corporation should be considered affiliates of the
Subject.
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.
Description
Source of financial statement
: Public Record Sources
Financial statement date : 31/03/12
Type of accounts : Full audited
Currency : Japan, Yen (JPY)
Exchange rate : 1 USD = JPY 79.24 as of
19-10-2012
Summarized
Financial Information
Consolidation type : Group Consolidated Group Consolidated
Currency : Japan, Yen (JPY)
Japan, Yen (JPY)
Denomination : (x1) One (x1) One
Date of financial year end : 31/03/12 31/03/11
Length of accounts : 12 months 12 months
Sale turnover / Income : 350,604,000,000
362,302,000,000
Gross profit : 164,685,000,000 169,980,000,000
Operating profit : 10,830,000,000 13,997,000,000
Profit before tax : 7,912,000,000 10,171,000,000
Net income : 2,566,000,000 6,510,000,000
Non current assets : 84,084,000,000 87,972,000,000
Current assets : 192,352,000,000
200,620,000,000
Inventories : 31,758,000,000 34,278,000,000
Total assets : 276,436,000,000 288,592,000,000
Current liabilities : 97,174,000,000 108,654,000,000
Non current liabilities : 39,530,000,000 39,419,000,000
Total liabilities : 136,704,000,000 148,073,000,000
Share equity : 139,732,000,000 140,519,000,000
Retained earning 56,466,000,000 56,012,000,000
Comments : The group’s
consolidated financial information above relates to the Subject’s
Parent Company Toshiba Tec Corporation and all its subsidiaries
which include ]
the Subject.
Main activities : The Subject is engaged in
marketing, sales, service support and
distribution
of point of sale systems, cash registers, barcode/ RFID printers,
peripherals
and software information systems.
The
Subject is part of TOSHIBA TEC CORPORATION which is a
Japan-based
company mainly engaged in the development, manufacture,
sale and maintenance
of office equipment and electrical machinery. The
Company
operates in two business segments. The System Solution
segment is
involved in the development, manufacture, sale and
maintenance
of point-of-sale (POS) systems, combined machines,
automatic
ID system, such as barcode systems and radio-frequency
identification
(RFID) systems, and related products in Japan. The Global
Solution
segment is involved in the development, manufacture, sale and
maintenance
of POS systems, combined machines, automatic ID system,
and inkjet
heads and related products in overseas markets. The Company
distributes
its products mainly under the brand TOSHIBA. As of March 31,
2012, the
Company had 53 consolidated subsidiaries. On August 1, 2012,
the
Company acquired the retail store solution business from International
Business
Machines Corporation, and established a holding subsidiary in
Japan.
Product & services :
· Electronic point of sale system
· Point of sale peripherals
· Printers (Standard/Industrial/Portable)
· RFID products
· Electronic cash registers
Brand : TOSHIBA
PROTECH
Purchases
International : Japan, Singapore, Taiwan
Sales
Local : Yes
International : New Zealand
Property &
Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting of a warehouse and an administrative office.
Branches : In addition, the Subject
operates from branch office located at:
411
Ferntree Gully Road
Mount
Waverly, VIC 3149
Australia
Tel: +61 3
85417980
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4% industry: 25.6% services: 70.4%
Inflation : 2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate 2009: 5.6 %
2010: 5.2 %
2011:5.1 %
Public debt
(General Government gross
debt as a % GDP) 2009: 16.9%
2010: 20.4%
2011: 22.9 %
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 Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac
Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra (Telecommunications)
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 2009: US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows 2008: US$33,604 million
2009: US$ 16,160 million
2010: US$26,431 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 20
(ranking by country on a basis of 142, 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%
Purchase Term
International : Prepayment, Credit up to 90 days
Sales Term
Local : Prepayment, Credit up to
90 days
International : Prepayment, Credit up to 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
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.54.73 |
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UK Pound |
1 |
Rs.88.61 |
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Euro |
1 |
Rs.71.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.