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Report Date : |
09.10.2013 |
IDENTIFICATION DETAILS
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Name : |
TOSHIBA ELEVATOR AND BUILDING SYSTEMS CORPORATION |
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Registered Office : |
6-5-27 Kitashinagawa Shinagawaku Tokyo 141-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
February, 1967 |
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Com. Reg. No.: |
0107-01-006785 (Tokyo-Shinagawaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of elevators, escalators |
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No. of Employees : |
4,988 |
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 |
TOSHIBA ELEVATOR
AND BUILDING SYSTEMS CORPORATION
Toshiba Elevator KK
6-5-27 Kitashinagawa Shinagawaku Tokyo 141-0001 JAPAN
Tel: 03-5423-3333 Fax:
03-5423-3512
URL: Error!
Hyperlink reference not valid.
E-Mail address: elevator@po.toshiba.co.jp
Mfg of elevators, escalators
250 nationwide
China (2), Korea, Hong Kong, Malaysia (2), Indonesia, Singapore, UAE, Thailand,
Taiwan, India
Fuchu (Tokyo), Uenohara (Yamanashi), Himeji (Hyogo-Pref)
SHINICHIRO AKIBA, RPES Tatsuo Yoshitsugu, mgn dir
Tetsuya Sakaguchi, mgn dir Takami Ono, mgn dir
Hiroshi Masuyama, mgn dir Toshiharu
Kudo, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 124,671 M
PAYMENTS REGULAR CAPITAL Yen
21,407 M
TREND UP WORTH Yen 100,678 M
STARTED 1967 EMPLOYES 4,988
MFG OF ELEVATORS & ESCALATORS, OWNED BY TOSHIBA CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the basis of a division separated
from Toshiba Corporation (See REGISTRATION). This is a specialized mfr of elevators,
escalators, their parts & attachment.
Offers installation, maintenance, repair, modification, etc services,
too. In Oct 2012, the firm agreed with
Johnson Lifts Pvt Ltd, India, to establish a JV, named Toshiba Johnson Elevators
(India) Pvt Ltd, with Toshiba owning 51% and Johnson 49% of the shares. Domestic clients include major
office/residence buildings, hospital, hotels, train stations, other nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 124,671
million, a 4% up from Yen 119,579 million in the previous term. Renewal orders and maintenance works were
brisk. The recurring profit was posted
at Yen 13,594 million and the net profit at Yen 9,593 million, respectively,
compared with Yen 10,289 million recurring profit and Yen 5,912 million net
profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 14,000 million and the net profit at Yen 9,700 million, respectively, on
a 3% rise in turnover, to Yen 128,000 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Feb 1967
Regd
No.: 0107-01-006785
(Tokyo-Shinagawaku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 170 million shares
Issued:
42.8 million
shares
Sum:
Yen
21,407 million
Major
shareholders (%): Toshiba Corp* (80.1),
KONE Nederland HD BV (19.9)
No.
of shareholders: 2
*.. Toshiba Corp, One of largest comprehensive electrical machinery
mfrs, Tokyo, founded 1904, listed Tokyo S/E, capital Yen 439,901 million, sales
5,800,281 million, operating profit Yen 194,316 million, recurring profit Yen
135,553 million, net profit Yen 77,533 million, total assets Yen 6,106,732
million, net worth Yen 1,034,456 million, employees 206,087, pres Hisao Tanaka
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures,
installs, maintains, repairs, modifies elevators, escalators, their attachments
& components, including removal of them (--100%).
(Elevators): double deck
elevators, outdoor type observation elevators, large capacity, high speed
elevators, space elevators, MagSus (magnetic suspension elevators), other
(Installation
works): offices, residences, hospitals, hotels, train stations, observation,
other
Clients: [Mfrs, builders,
wholesalers] Toshiba Corp, Mitsui Fudosan Residential Co, Mori Building Co, NTT
Urban Development Co, Toyota Motor, Timec Co, Obayashi Corp, Kajima Corp,
Shimizu Corp, Takenaka Corp, other
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toshiba Elevator Products, Toshiba Corp, Wavecrest Co, Toshiba
Logistics, Toshiba DMS, Arita Mfg Co, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Tokyo)
Resona Bank (Tokyo-Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
128,000 |
124,671 |
119,579 |
119,025 |
|
Recur. Profit |
|
14,000 |
13,594 |
10,289 |
9,544 |
|
Net Profit |
|
9,700 |
9,593 |
5,912 |
5,653 |
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Total Assets |
|
|
184,658 |
142,284 |
144,452 |
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Current Assets |
|
|
50,767 |
43,028 |
41,496 |
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Current Liabs |
|
|
42,820 |
37,531 |
36,683 |
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Net Worth |
|
|
100,678 |
75,076 |
74,812 |
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Capital, Paid-Up |
|
|
21,407 |
21,407 |
21,407 |
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Div.Ttl in Million (¥) |
|
|
5,525 |
5,476 |
6,746 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
2.67 |
4.26 |
0.47 |
5.05 |
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Current Ratio |
|
.. |
118.56 |
114.65 |
113.12 |
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N.Worth Ratio |
.. |
54.52 |
52.76 |
51.79 |
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R.Profit/Sales |
|
10.94 |
10.90 |
8.60 |
8.02 |
|
N.Profit/Sales |
7.58 |
7.69 |
4.94 |
4.75 |
|
|
Return On Equity |
.. |
9.53 |
7.87 |
7.56 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.83.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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 |
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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.