|
Report Date : |
03.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIBA HOME TECHNOLOGY CORPORATION |
|
|
|
|
Registered Office : |
2570-1, Urasuda Kamo Niigata-Pref 959-1393 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Year of Establishment : |
July 1981 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturing of cooking utensils, electric home appliances, other |
|
|
|
|
No. of Employees : |
667 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
TOSHIBA HOME
TECHNOLOGY CORPORATION
Toshiba Home Techno KK
2570-1 Urasuda Kamo Niigata-Pref 959-1393 JAPAN
Tel: 0256-53-2511 Fax:
0256-53-0329
E-Mail address: tht@po.toshiba.co.jp
Mfg of cooking utensils, electric home appliances, other
Tokyo, Osaka
Taipei
At the caption address
KEIJI NAKANISHI, PRES Yoshiaki
Morita, dir
Yoshinori Konishi, dir Norikazu
Nishimura, dir
Hajime Fujita, dir Akira
Inagaki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 35,095 M
PAYMENTS REGULAR CAPITAL Yen
3,000 M
TREND SLOW WORTH Yen 3,269 M
STARTED 1981 EMPLOYES 667
MFR OF COOKING UTENSILS, ELECTRIC HOME APPLIANCES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS:
US$600,000 / O/A 60 DAYS.
The subject company was established on the basis of a division separated
from Toshiba Corp (now owned by Toshiba Home Appliance Corp). This is a specialized mfr of cooking
utensils, electric home appliances, humidifiers, electric fans, air cleaners,
other. Goods are exported to China, S/E
Asia, other. 60% of the goods are shipped
to Toshiba group firms.
The sales volume for Mar/2012 fiscal term amounted to Yen 35,095
million, a 4% down from Yen 36,688 million in the previous term. This is referred to the Great North Japan
Earthquake and Floods in Thailand, as sales declined. The recurring profit was posted at Yen 679
million and the net profit at Yen 122 million, respectively, compared with Yen
1,093 million recurring profit and Yen 653 million net profit, respectively, a
year ago.
For the term that ended Mar 2013 the recurring profit was projected at
Yen 690 million and the net profit at Yen 135 million, respectively, on a 3%
rise in turnover, to Yen 36,200 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jul
1981
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 24 million shares
Issued:
6 million
shares
Sum: Yen
3,000 million
Major shareholders
(%): Toshiba Home Appliances
Corp* (100)
*.. Mfr of refrigerators, Tokyo, founded 1991, capital Yen 13,500
million, sales Yen 148,847 million, net loss Yen 4,793 million, employees 349,
pres Yoshiaki Haraoka
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
cooking utensils, electric home appliances, air-cleaners, other (--100%)
(Mfg Items):
Cooking Utensils: electric range
heaters, ovens, cooking heaters, vacuum flask, hot plate, vacuum pots, kettles,
humidifiers, others;
Living Utensils: humidifiers, pad
dryers, hair iron, hair dryers, steam irons, other;
Air Conditioning
Units: air cleaner, electric fan, humidifiers, dehumidifier, fan heaters,
small-size air-conditioners, other.
Clients: [Mfrs,
wholesalers] Toshiba Home Appliances Corp, Toshiba Consumer Marketing, Toshiba
Fuel Cell Power System Corp, Toshiba TCL (Hong Kong), Epson Precision, Konica
Minolta (Hong Kong), Fuji Xerox of Shenzhen, Toshiba Carrier Corp, Electronics
International Ltd, Dainichi Co Ltd, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Thai Toshiba, Join-Star, Guangdong Electric Applications, Yeh
Brothers International, Control Component Co Ltd, Ya Horong Electronics
International Ltd, Nissin Kogyo Co, Toyoichi Tsusho Co, other.
Imports from China, Thailand, other
Payment record: Regular
Location: Business area in
Niigata. Office premises at the caption address
are owned and maintained satisfactorily.
Bank References:
Daishi Bank (Kamo)
Hokuetsu Bank (Kamo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual Sales |
|
36,200 |
35,095 |
36,688 |
28,851 |
|
Recur. Profit |
|
690 |
679 |
1,093 |
|
|
Net Profit |
|
135 |
122 |
653 |
648 |
|
Total Assets |
|
|
18,515 |
15,928 |
14,394 |
|
Current Assets |
|
|
13,110 |
10,002 |
|
|
Current Liabs |
|
|
10,665 |
7,785 |
|
|
Net Worth |
|
|
3,269 |
3,147 |
2,493 |
|
Capital, Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.15 |
-4.34 |
27.16 |
3.04 |
|
|
Current Ratio |
|
.. |
122.93 |
128.48 |
.. |
|
N.Worth Ratio |
.. |
17.66 |
19.76 |
17.32 |
|
|
R.Profit/Sales |
|
1.91 |
1.93 |
2.98 |
.. |
|
N.Profit/Sales |
0.37 |
0.35 |
1.78 |
2.25 |
|
|
Return On Equity |
.. |
3.73 |
20.75 |
26.01 |
|
Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.50 |
|
|
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.