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Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
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Name : |
TAKATA CORPORATION |
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Registered Office : |
Ark Hills South Tower, 1-4-5 Roppongi Minatoku Tokyo 106-8488 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
January 2004 |
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Legal Form : |
Limited Company (Kabushiki Kaisha |
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Line of Business : |
Manufacturing of motor vehicle seat belts, air bags, steering wheel,
child seats |
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No. of Employees |
36,152 |
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 |
COMPANY NAME AND ADDRESS
TAKATA CORPORATION
REGD NAME: Takata
KK
MAIN OFFICE: Ark
Hills South Tower, 1-4-5 Roppongi Minatoku Tokyo 106-8488 JAPAN
Tel: 03-3582-3222 Fax: 03-5561-9745 -
URL: http://www.takata.com
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of motor
vehicle seat belts, air bags, steering wheel, child seats, other
BRANCHES
Nagoya, Hiroshima,
Hamamatsu, Utsunomiya, Atsugi
OVERSEAS
N America (6),
Europe (5), Asia (2) (--subsidiaries with mfg plants)
FACTORIES
Shiga (4), Mie,
Saga (2); and overseas
CHIEF EXEC
STEPHAN STOCKER,
PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 556,998 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 41,862 M
TREND UP WORTH Yen 176,888 M
STARTED 2004 EMPLOYES 36,152
COMMENT
MFR OF AUTOMOTIVE SAFETY PARTS
FINANCIAL SITUATION COSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
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Business |
Terms Ending |
Annual Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
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Results: |
31/03/2011 |
390,876 |
27,008 |
18,237 |
(%) |
155,312 |
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(Consolidated) |
31/03/2012 |
382,737 |
13,499 |
11,937 |
-2.08 |
161,186 |
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31/03/2013 |
415,521 |
17,050 |
-21,122 |
8.57 |
154,085 |
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31/03/2014 |
556,998 |
25,656 |
11,144 |
34.05 |
176,888 |
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31/03/2015 |
560,000 |
24,500 |
16,000 |
0.54 |
.. |
Unit: In Million Yen
Forecast
figures for the 31/03/2015 fiscal term.
HIGHLIGHTS
This is the second-ranked mfr of automotive safety parts in the world,
with seat belts, air bags and child safety seats as mainline. Independent of any corporate
affiliation. Globally developing
footholds for development, manufacturing and marketing, mainly in Asia, Europe
and the US. The plant in Russia started
operating and will supply local, European, US and Japanese automakers. The company’s first plant in Hungary will start
operating in Oct 2014. The company
acquired an aircraft interior parts maker in the US, and will reinforce the
aircraft business launched in 2012.
FINANCIAL INFORMATION
The sales volume for Mar/2014 fiscal term
amounted to Yen 556,998 million, a 34.0% up from Yen 415,521 million in the
previous term. Sales of automobile safety
parts grew more than the volume of automobile production, thanks to their
increased application in Japan and overseas.
Sales volume effects and the weaker Yen also contributed to earnings. The recurring profit was posted at Yen 25,656
million and the net profit at Yen 11,144 million, respectively, compared with
Yen 17,050 million recurring profit and Yen 21,122 million net losses,
respectively, a year ago.
For the current term ending Mar 2015 the
recurring profit is projected at Yen 24,500 million and the net profit at Yen
16,000 million, on a 0.5% rise in turnover, to Yen 560,000 million. Overseas sales will continue growing, driven
by the Asian markets, led by China, and the strong North American markets.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
REGISTRATION
Date Registered: Jan 2004
Legal Status: Limited Company (Kabushiki Kaisha
Authorized:
325,473,600 shares
Issued: 83,161,700 shares
Sum: Yen 41,862 million
Major
shareholders (%): TKJ Corp (52.1), Shigehisa Takada (4.3), Japan Trustee Services Bank
(3.0), MSIP Client Securities (2.7), RBC IST London Clients Account (2.1), Akio
Takada (2.0), Master Trust Bank of Japan T (1.9), SMBC (1.5), Mellon Bank
Treaty Cl. Omnibus (1.3), Honda Motor (1.2); foreign owners (18.0)
No.
of shareholders: 8,578
Listed on the S/Exchange (s) of: Tokyo
Managements: Shigehisa
Takada, ch; Stefan Stocker, pres; Yoshiyasu Kikuchi, dir; Noriyuki Kosugi, dir;
Yasuhiko Ueno, dir
Nothing detrimental
is known as to the commercial morality of executives.
Related companies: TK Holdings Inc, other.
OPERATION
Activities: Manufactures
automotive safety parts: seat belts (32%), air bags (41%), steering wheel,
motor sports, other (27%)
Overseas
Sales Ratio (84%)
Clients: [Mfrs,
wholesalers] Toyota Motor, Honda Motor, Mazda Motor, Nissan Motor, Fuji Heavy
Ind, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Taito Kogyo Co, Sanoh Industrial,
Higuchi Mfg Co,
Katsuyama Fine Tech, Shimamoto Diecast,
other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (Hibiya)
MUFG (H/O)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2014 |
31/03/2013 |
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INCOME STATEMENT |
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Annual Sales |
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556,998 |
415,521 |
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Cost of Sales |
466,552 |
345,169 |
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GROSS PROFIT |
90,445 |
70,351 |
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Selling & Adm Costs |
64,169 |
55,858 |
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OPERATING PROFIT |
26,275 |
14,493 |
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Non-Operating P/L |
-619 |
2,557 |
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RECURRING PROFIT |
25,656 |
17,050 |
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NET PROFIT |
11,144 |
-21,122 |
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BALANCE SHEET |
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Cash |
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103,099 |
88,217 |
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Receivables |
109,684 |
86,763 |
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Inventory |
59,216 |
57,724 |
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Securities, Marketable |
5,106 |
5,494 |
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Other Current Assets |
32,755 |
25,101 |
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TOTAL CURRENT ASSETS |
309,860 |
263,299 |
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Property & Equipment |
93,583 |
87,822 |
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Intangibles |
5,515 |
5,753 |
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Investments, Other Fixed Assets |
37,787 |
28,898 |
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TOTAL ASSETS |
446,745 |
385,772 |
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Payables |
55,112 |
34,194 |
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Short-Term Bank Loans |
15,701 |
22,608 |
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Other Current Liabs |
101,178 |
95,938 |
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TOTAL CURRENT LIABS |
171,991 |
152,740 |
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Debentures |
30,000 |
20,000 |
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Long-Term Bank Loans |
35,477 |
32,132 |
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Reserve for Retirement Allw |
12,662 |
10,502 |
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Other Debts |
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19,727 |
16,313 |
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TOTAL LIABILITIES |
269,857 |
231,687 |
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MINORITY INTERESTS |
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Common
stock |
41,862 |
41,862 |
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Additional
paid-in capital |
42,328 |
42,328 |
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Retained
earnings |
98,313 |
89,663 |
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Evaluation
p/l on investments/securities |
6,400 |
6,619 |
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Others |
(12,015) |
(26,387) |
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Treasury
stock, at cost |
0 |
0 |
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TOTAL S/HOLDERS` EQUITY |
176,888 |
154,085 |
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TOTAL EQUITIES |
446,745 |
385,772 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2014 |
31/03/2013 |
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Cash Flows
from Operating Activities |
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30,615 |
23,460 |
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Cash
Flows from Investment Activities |
-14,803 |
-16,501 |
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Cash
Flows from Financing Activities |
-3,200 |
7,619 |
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Cash,
Bank Deposits at the Term End |
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105,356 |
87,491 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2014 |
31/03/2013 |
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Net
Worth (S/Holders' Equity) |
176,888 |
154,085 |
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Current
Ratio (%) |
180.16 |
172.38 |
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Net
Worth Ratio (%) |
39.59 |
39.94 |
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Recurring
Profit Ratio (%) |
4.61 |
4.10 |
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Net
Profit Ratio (%) |
2.00 |
-5.08 |
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Return
On Equity (%) |
6.30 |
-13.71 |
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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.