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Report Date : |
06.07.2013 |
IDENTIFICATION DETAILS
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Name : |
FUJIFILM CORPORATION |
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Registered Office : |
Mid Town West, 9-7-3 Akasaka Minatoku
Tokyo 107-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
October 2006 |
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Com. Reg. No.: |
0104-01-064789
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of photo films, photography equipment,
digital cameras, imaging solutions |
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No. of Employees : |
7094 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
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 |
japan ECONOMIC OVERVIEW
In the years
following World War II, government-industry cooperation, a strong work ethic,
mastery of high technology, and a comparatively small defense allocation (1% of
GDP) helped Japan develop a technologically advanced economy. Two notable
characteristics of the post-war economy were the close interlocking structures
of manufacturers, suppliers, and distributors, known as keiretsu, and the
guarantee of lifetime employment for a substantial portion of the urban labor
force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. For three decades, overall real economic growth
had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s,
and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging
just 1.7%, largely because of the after effects of inefficient investment and
an asset price bubble in the late 1980s that required a protracted period of
time for firms to reduce excess debt, capital, and labor. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan into recession. Government stimulus
spending helped the economy recover in late 2009 and 2010, but the economy
contracted again in 2011 as the massive 9.0 magnitude earthquake and the ensuing
tsunami in March disrupted manufacturing. The economy has largely recovered in
the two years since the disaster, but reconstruction in the Tohoku region has
been uneven. Newly-elected Prime Minister Shinzo ABE has declared the economy
his government's top priority; he has pledged to reconsider his predecessor's
plan to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 stood as the fourth-largest economy in the world after second-place
China, which surpassed Japan in 2001, and third-place India, which edged out
Japan in 2012. The new government will continue a longstanding debate on
restructuring the economy and reining in Japan's huge government debt, which
exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth,
and an aging and shrinking population are other major long-term challenges for
the economy.
|
Source : CIA |
FUJIFILM CORPORATION
Fuji Film KK
Mid Town West,
9-7-3 Akasaka Minatoku Tokyo 107-0052 JAPAN
Tel:
03-6271-3111 Fax: 03-6271-1130
URL: www.fujifilm.co.jp
E-mail: (thru the URL)
Mfg of
photo films, photography equipment, digital cameras, imaging solutions
Tokyo (2),
Osaka, Nagoya, other (Tot 5)
Kanagawa
(2), Shizuoka (2) (Tot 4)
SHIGEHIRO
NAKAJIMA, PRES Shigetaka Komori, ch
Takeshi Higuchi, dir Yuzo Toda, dir
Toru Takahashi, dir Nobuaki Inoue,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 552,013 M
PAYMENTSREGULAR CAPITAL Yen
40,000 M
TREND SLOW WORTH Yen 1,311,648 M
STARTED 2006 EMPLOYES 7,094
MFR OF PHOTO FILMS, PHOTOGRAPHY EQUIPMENT, WHOLLY OWNED BY
FUJIFILM HOLDINGS CORP
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established originally in 1934 on the basis of
film division spun off from present Daicel Chemical Ind. Top-ranked photo film mfr and leading mfr of
digital cameras. Shifted away from photo
films into flat panel display materials and medical image systems. This business specializes in: imaging
solutions, photography equipment, information solutions, medical systems, life
science systems, high-performance materials, optical devices, graphic systems,
recording media, other. In Oct 2006,
formed a holding company, Fujifilm Holdings Corp, and became its wholly owned
subsidiary together with Fuji Xerox Co Ltd, two major pillars of the
group. Goods are shipped to two group
firms for distribution nationwide: Fujifilm Graphic Systems & Fujifilm
Medical Corp. In Jan 2010 established
Fujifilm North America Corp.
The sales volume for Mar/2013 fiscal term amounted to Yen 552,013
million, a 15% down from Yen 649,059 in the previous term. Transferred part of operations to a
subsidiary. The recurring profit was
posted at 12,434 million and the net profit at Yen 14,394 million,
respectively, compared with Yen 6,008 million recurring profit and Yen 2,038
million net profit, respectively, a year ago.
Foreign exchange gains were posted for the term.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 13,000 million and the net profit at Yen 15,000 million, respectively,
on a 3% rise in turnover, to Yen 570,000 million. Sales of LCD films will rise through capacity
expansion.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct 2006
Regd No.: 0104-01-064789 (Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 32,000 shares
Issued: 8,000 shares
Sum: Yen
40,000 million
Major shareholders (%):
Fujifilm Holdings Corp* (100)
* Holding Company,
born by the Fujifilm group restructuring, listed Tokyo S/E, capital Yen 40,363
million, sales Yen 2,214,696 million, operating profit Yen 114,116 million,
recurring profit Yen 119,186 million, net profit Yen 54,266 million, Total
assets Yen 3,059,596 million, net worth Yen 1,868,870 million, employees
81,542, pres Shigehiro Nakajima, concurrently
Nothing detrimental is known as to the commercial morality of executives.
Activities: Engaged in
imaging & information businesses (100%):
Consumer Products (digital cameras,
3D image products, films & cameras, supplies);
Business Products
(medical
systems, life science systems, graphic systems, Photofinishing products, motion
picture films, recording media, office & industry).
Clients: [Mfrs,
wholesalers] Supplies exclusively to Fujifilm Graphic Systems & Fujifilm
Medical Co (the two subsidiaries)
No. of accounts: 1,000
– 2,000 (distributed by the two subsidiaries)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Fujifilm Photonix, Daicel Chemical Ind, Mitsui & Co, Fujifilm
Opt Materials, Wako Pure Chemical Ind, Sankyo Chemical, Daito Chemix, Nippon
Paper Ind, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC
(H/O)
Mitsui
Sumitomo Trust Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual
Sales |
|
570,000 |
552,013 |
649,059 |
692,622 |
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Recur.
Profit |
|
13,000 |
12,434 |
6,008 |
61,840 |
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Net
Profit |
|
15,000 |
14,394 |
2,038 |
84,118 |
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Total
Assets |
|
|
1,455,147 |
1,483,161 |
1,501,442 |
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Current
Assets |
|
|
431,081 |
463,764 |
513,760 |
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Current
Liabs |
|
|
135,093 |
188,837 |
189,322 |
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Net
Worth |
|
|
1,311,648 |
1,286,005 |
1,225,687 |
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Capital,
Paid-Up |
|
|
40,000 |
40,000 |
40,000 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.26 |
-14.95 |
-6.29 |
11.98 |
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Current Ratio |
|
.. |
319.10 |
245.59 |
271.37 |
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N.Worth Ratio |
.. |
90.14 |
86.71 |
81.63 |
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R.Profit/Sales |
|
2.28 |
2.25 |
0.93 |
8.93 |
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N.Profit/Sales |
2.63 |
2.61 |
0.31 |
12.14 |
|
|
Return On Equity |
.. |
1.10 |
0.16 |
6.86 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
UK Pound |
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
---- |
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.