|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIBA MEDICAL SYSTEMS CORPORATION |
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|
|
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Registered Office : |
1385 Shimoishigami Otawara City Tochigi-Pref 324-8555 |
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|
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Country : |
Japan |
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|
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
September 1948 |
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Com. Reg. No.: |
0600-01-013525 (Tochigi-Otawara) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of medical equipment |
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No. of Employees : |
3,682 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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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 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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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. 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 MEDICAL SYSTEMS CORPORATION
REGD NAME: Toshiba
Medical Systems KK
MAIN OFFICE: 1385
Shimoishigami Otawara City Tochigi-Pref 324-8555 JAPAN
Tel:
0287-26-6301 Fax: 0287-26-6050
URL: http//:www.toshiba-medical.co.jp
E-mail: info@toshiba-medical co.jp
Mfg of medical
equipment
Tokyo, Sapporo,
Sendai, Osaka, Nagoya, Kobe, other (Tot143)
USA, Europe,
China, India, Africa, other
At the caption
address
SATOSHI TSUNAKAWA,
PRES Nobuhiro Washio, mgn dir
Hiroshi Asahina,
mgn dir Kazuya Kobayashi, mgn
dir
Keiji Tanaka, mgn
dir Toshio
Yamanoi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 277,450 M
PAYMENTS REGULAR CAPITAL Yen 20,700 M
TREND UP WORTH Yen 50,608 M
STARTED 1948 EMPLOYES 3,682
MFR OF MEDICAL
EQUIPMENT, OWNED BY TOSHIBA CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was
established on the basis of a medical equipment mfg division separated from
Toshiba Corp (See REGISTRATION). This is a specialized mfr of medical equipment
& instruments (See OPERATION). Strong in magnetic resonance imaging systems
and tops in this field. Third ranked in
X-ray CT systems in the world. In Apr
2012 the firm acquired Vital Images Inc (USA).
Clients include government agencies, national hospitals, public
hospitals, universities, other, nationwide.
The sales volume for
Mar/2013 fiscal term amounted to Yen 277,450 million, a 9% up from Yen 254,959
million in the previous term. The
acquired Vital Images Inc in the last term contributed to the sales
growth. The recurring profit was posted
at Yen 22,889 million and the net profit at Yen 15,867 million, respectively,
compared with Yen 11,985 million recurring profit and Yen 7,394 million net
profit, respectively, a year ago. .
For the current
term ending Mar 2014 the recurring profit is projected at Yen 23,000 million
and the net profit at Yen 16,500 million, respectively, on a 5% rise in
turnover, to Yen 290,000 million.
The financial situation
is considered FAIR and good for ORDINARY business engagements.
Date Registered:
Sept 1948
Regd No.:
0600-01-013525 (Tochigi-Otawara)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 500 million shares
Issued:
134,979,000 shares
Sum: Yen 20,700 million
Major shareholders (%): Toshiba Corp*
(99.4), Toshiba Insurance Service (0.6)
No. of shareholders: 2
*..
One of largest comprehensive electrical machinery mfr, Tokyo, founded 1904,
listed Tokyo S/E, capital Yen 439,901 million, sales Yen 5,800,281 million,
operating profit Yen 194,316 million, recurring profit Yen 155,553 million, net
profit Yen 77,533 million, total assets 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
medical equipment: diagnostic X-ray systems, medical X-ray CT systems, magnetic
resonance imaging systems, diagnostic ultrasound systems, radiation therapy
systems, diagnostic nuclear medicine systems, medical sample testing equipment,
and information for medical equipment (--100%).
Clients: Government
agencies, public hospitals, national hospitals, universities, laboratories,
other
No. of accounts:
800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toshiba Medical Mfg Co, Panasonic Corp, Toshiba Electron Tubes
& Devices Co, Varian Siemens Magnetic Technology, other
Payment record: Regular
Location: Business area in
Otawara City, Tochigi-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (H/O)
Resona Bank
(Tokyo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
290,000 |
277,450 |
254,959 |
248,184 |
|
Recur.
Profit |
|
23,000 |
22,889 |
11,985 |
11,175 |
|
Net
Profit |
|
16,500 |
15,867 |
7,394 |
8,367 |
|
Total
Assets |
|
|
168,556 |
157,613 |
137,934 |
|
Current
Assets |
|
|
113,076 |
105,439 |
91,737 |
|
Current
Liabs |
|
|
87,285 |
90,213 |
73,454 |
|
Net
Worth |
|
|
50,608 |
39,475 |
39,000 |
|
Capital,
Paid-Up |
|
|
20,700 |
20,700 |
20,700 |
|
Div.P.Share(¥) |
|
|
|
30.15 |
49.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.52 |
8.82 |
2.73 |
-4.57 |
|
|
Current Ratio |
|
.. |
129.55 |
116.88 |
124.89 |
|
N.Worth Ratio |
.. |
30.02 |
25.05 |
28.27 |
|
|
R.Profit/Sales |
|
7.93 |
8.25 |
4.70 |
4.50 |
|
N.Profit/Sales |
5.69 |
5.72 |
2.90 |
3.37 |
|
|
Return On Equity |
.. |
31.35 |
18.73 |
21.45 |
|
Notes: Forecast (or
estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.87 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.