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Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TOSHIBA HOME TECHNOLOGY CORPORATION |
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Registered Office : |
2570-1 Urasuda Kamo Niigata-Pref 959-1393 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
July 1981 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of cooking utensils, electric home appliances |
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No. of Employees |
636 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2013 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 is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy
|
Source
: CIA |
TOSHIBA
HOME TECHNOLOGY CORPORATION
REGD NAME: Toshiba
Home Techno KK
MAIN OFFICE: 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 Norikazu Nishimura, dir
Mitsuru Kawamura,
dir Yoshio Kuwabara, dir
Toshiharu
Yamazaki, dir Akira Okada, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 38,648 M
PAYMENTS REGULAR CAPITAL Yen 3,000 M
TREND SLOW WORTH Yen
4,057 M
STARTED 1981 EMPLOYES 636
MFR OF COOKING UTENSILS, ELECTRIC HOME APPLIANCES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
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/2013 fiscal term amounted to Yen 38,643
million, a 10% up from Yen 35,095 million in the previous term. The recurring profit was posted at Yen1,572
million and the net profit at Yen 997 million, respectively, compared with Yen
679 million recurring profit and Yen 122 million net profit, respectively, a
year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 1,500 million and the net profit at Yen 1,000 million, respectively, on a
5% rise in turnover, to Yen 40,500 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 151,092 million, net loss Yen 6,020
million, employees 705, pres Toshiro Ishiwatari
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: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
40,500 |
38,648 |
35,095 |
36,688 |
|
Recur.
Profit |
|
1,500 |
1,572 |
679 |
1,093 |
|
Net
Profit |
|
1,000 |
997 |
122 |
653 |
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Total
Assets |
|
|
18,934 |
18,515 |
15,928 |
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Current
Assets |
|
|
13,508 |
13,110 |
10,002 |
|
Current
Liabs |
|
|
10,400 |
10,665 |
7,785 |
|
Net
Worth |
|
|
4,057 |
3,269 |
3,147 |
|
Capital,
Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
|
Div.Ttl
in Million (¥) |
|
|
229 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.79 |
10.12 |
-4.34 |
27.16 |
|
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Current Ratio |
.. |
129.88 |
122.93 |
128.48 |
|
|
N.Worth Ratio |
.. |
21.43 |
17.66 |
19.76 |
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R.Profit/Sales |
3.70 |
4.07 |
1.93 |
2.98 |
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N.Profit/Sales |
2.47 |
2.58 |
0.35 |
1.78 |
|
|
Return On Equity |
.. |
24.57 |
3.73 |
20.75 |
|
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 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
NIS |
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 |
-- |
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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.