MIRA INFORM REPORT

 

 

 

Report Date :

17.05.2014

 

IDENTIFICATION DETAILS

 

Name :

THK CO LTD

 

 

Registered Office :

3-11-6 Nishi-Gotanda Shinagawaku Tokyo 141-8503

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

April  1971

 

 

Com. Reg. No.:

(Tokyo-Shinagawaku) 006176

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of linear motion systems

 

 

No. of Employees :

8,676

 

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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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

 

Company name

 

THK CO Ltd

 

 

REGD NAME

 

THK KK

 

 

MAIN OFFICE

 

3-11-6 Nishi-Gotanda Shinagawaku Tokyo 141-8503 JAPAN

Tel:                              03-5434-0300

URL:                             http://www.thk.co.jp

E-Mail address:                        info@thk.co.jp

 

 

ACTIVITIES

 

Mfg of linear motion systems

 

 

BRANCHES

 

Osaka, Nagoya, Yamagata, Mie, Gifu, other (Tot 39)

 

 

OVERSEAS

 

USA, Europe, Asia, other

 

 

FACTORIES

 

Yamagata, Sendai, Niigata, Fukushima, Mishima, Kofu, Gifu, Mie, Yamaguchi, Fukuoka

 

 

CHIEF EXEC

 

AKIHIRO TERAMACHI, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                 A/SALES          Yen 196,866 M

PAYMENTS      REGULAR         CAPITAL           Yen 34,606 M

TREND             UP                    WORTH            Yen 175,516 M

STARTED                     1971                 EMPLOYES      8,676

 

 

COMMENT

 

MFR OF LINEAR MOTION SYSTEMS 

 

FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

                        Notes: Unit: In Million Yen

Forecast figures for the 31/03/2013 fiscal term.

 

 

HIGHLIGHTS

 

This is the pioneer mfr of linear motion systems (LMS), mainly for semiconductor-mfg equipment & machine tools.  Commands world’s largest market share of 60%.  Emphasizing products for automotive use.  Has newly-developed LM guide fixed with ball  retainers.  Stepping up sales base in China & India.  It plans to set up three sales bases and one R&D center in China.  It is also considering expansion of production/sales bases in India, Thailand and Vietnam.  It is pushing ahead with R&D of automobile parts and quake-absorbing equipment.  The three production bases in Tohoku area was hurt by the recent Earthquake & Tsunami but resumed operation on 01/04/2011, reports the firm.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2012 fiscal term amounted to Yen 196,866 million, a 3.3% up from Yen 190,662 million in the previous term.  The recurring profit was posted at Yen 19,072 million and the net profit at Yen 12,641 million, respectively, compared with Yen 21,631 million recurring profit and Yen 13,959 million net profit, respectively, a year ago.

 

(Apr/Jun/2012 results): Sales Yen 44,481 million (down 12.0%), operating profit Yen 3,700 million (down 36.7%), recurring profit Yen 1,945 million (down 66.4%), net profit Yen 1,321 million (down 64.5%).  (%  compared with the corresponding period a year ago).

 

For the current term ending Mar 2013 the recurring profit is projected at Yen 23,500 million and the net profit at Yen 15,500 million, respectively, on a 1.6% rise in turnover, to Yen 200,000 million.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:　Apr 1971

Regd No.:         (Tokyo-Shinagawaku) 006176

Legal Status:      Limited Company (Kabushiki Kaisha

Authorized:       467,877,700 shares

Issued:                133,856,903 shares

Sum:                   Yen 34,806 million

 

Major shareholders (%): State Street Bank & Trust (9.3), Japan Trustee Services T (5.6), , Master Trust Bank of Japan T (5.6), Company’s Treasury Stock (3.9), Chase Manhattan Bank 385036 (3.2), Goldman Sachs (Regular Acct) (1.9), State Street Bank & Trust 505224 (1,8), FTC Co (1.5); foreign owners (49.4)

 

No. of shareholders: 21,710

 

Listed on the S/Exchange (s) of: Tokyo

 

Managements: Akihiro Teramachi, pres; Toshihiro Teramachi, v pres, Hiroshi Konno, v pres; Takashi Okubo, dir; Tetsuya Hayashida, dir; Hideyuki Kiuchi, dir

 

Nothing detrimental is known as to the commercial morality of executives.

 

Related companies: THK America, THK Europe, other.

 

 

OPERATION

           

Activities: Manufactures linear motion systems (e.g. LM guide & ball spine), ball screw, XY tables, link balls & rod ends, other:

 

For Industrial equipment-related (73%), transportation equipment (27%).

 

Overseas Sales Ratio (39.0%): USA (12.6%), Europe (11.0%), Asia, others (15.5%)

           

Clients: Mfrs, wholesalers, other

            No. of accounts: 1,000

            Domestic areas of activities: Nationwide

           

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Mizuho Corporate Bank (Shinjuku)

MUFG (Gotanda)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2012

31/03/2011

INCOME STATEMENT

 

 

 

  Annual Sales

　

196,866

190,661

 

  Cost of Sales

142,891

136,219

 

      GROSS PROFIT

53,975

54,442

 

  Selling & Adm Costs

34,229

32,598

 

      OPERATING PROFIT

19,745

21,844

 

  Non-Operating P/L

-673

-213

 

      RECURRING PROFIT

19,072

21,631

　

      NET PROFIT

12,641

13,959

BALANCE SHEET

 

 

 

 

  Cash

　

110,788

100,104

 

  Receivables

 

53,034

56,442

 

  Inventory

 

26,234

26,908

 

  Securities, Marketable

　

　

 

  Other Current Assets

8,596

8,211

 

      TOTAL CURRENT ASSETS

198,652

191,665

 

  Property & Equipment

79,612

75,409

 

  Intangibles

 

2,606

1,093

 

  Investments, Other Fixed Assets

7,463

11,601

 

      TOTAL ASSETS

288,333

279,768

 

  Payables

 

27,681

31,743

 

  Short-Term Bank Loans

　

　

 

　

 

　

　

 

  Other Current Liabs

16,861

20,218

 

      TOTAL CURRENT LIABS

44,542

51,961

 

  Debentures

 

40,000

30,000

 

  Long-Term Bank Loans

20,000

20,000

 

  Reserve for Retirement Allw

2,982

4,963

 

  Other Debts

　

5,292

4,907

 

      TOTAL LIABILITIES

112,816

111,831

 

      MINORITY INTERESTS

 

 

 

Common stock

34,606

34,606

 

Additional paid-in capital

44,584

44,342

 

Retained earnings

121,161

110,632

 

Evaluation p/l on investments/securities

770

597

 

Others

 

(14,243)

(10,881)

 

Treasury stock, at cost

(11,362)

(11,359)

 

      TOTAL S/HOLDERS` EQUITY

175,516

167,937

　

      TOTAL EQUITIES

288,333

279,768

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2012

31/03/2011

 

Cash Flows from Operating Activities

　

16,504

21,608

 

Cash Flows from Investment Activities

-10,863

-6,299

 

Cash Flows from Financing Activities

6,937

17,913

　

Cash, Bank Deposits at the Term End

　

110,788

100,104

ANALYTICAL RATIOS            Terms ending:

31/03/2012

31/03/2011

 

 

Net Worth (S/Holders' Equity)

175,516

167,937

 

 

Current Ratio (%)

445.99

368.86

 

 

Net Worth Ratio (%)

60.87

60.03

 

 

Recurring Profit Ratio (%)

9.69

11.35

 

 

Net Profit Ratio (%)

6.42

7.32

 

 

Return On Equity (%)

7.20

8.31

 

           


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.58.86

UK Pound

1

Rs.98.82

Euro

1

Rs.80.71

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

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