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Report No. : |
353247 |
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Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
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Name : |
FUJIFILM CORPORATION |
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Registered Office : |
Mid Town West, 9-7-3 Akasaka Minatoku Tokyo 107-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
Oct., 2006 |
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Com. Reg. No.: |
0104-01-064789 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of photo films, photography equipment, digital cameras,
imaging solutions |
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No. of Employees : |
4,469 |
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an 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. Scarce in many natural resources,
Japan has long been dependent on imported raw materials. Since the complete
shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster
in 2011, Japan's industrial sector has become even more dependent than it was
previously on imported fossil 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
impressive - 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 aftereffects 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 four times
since 2008. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out nuclear
power with a new policy of seeking to restart nuclear power plants that meet
strict new safety standards, and emphasizing nuclear energy’s importance as a
base-load electricity source. Japan joined the Trans-Pacific Partnership (TPP)
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 2014 stood as the fourth-largest economy in the
world after first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
FUJIFILM CORPORATION
REGD NAME: Fuji
Film KK
MAIN OFFICE: Mid
Town West, 9-7-3 Akasaka Minatoku Tokyo 107-0052 JAPAN
Tel: 03-6271-3111 Fax: 03-6271-1130
URL: http//:www.fujifilm.co.jp
E-mail: (thru the URL)
Mfg of photo films,
photography equipment, digital cameras, imaging solutions
Tokyo (2), Osaka,
Nagoya, other (Tot 6)
Kanagawa (2),
Shizuoka (2) (Tot 4)
SHIGEHIRO
NAKAJIMA, PRES Koichi Tamai,
s/mgn dir
Yuzo Toda, s/mgn
dir Toru
Takahashi, mgn dir
Takatoshi
Ishikawa, mgn dir Kenji Mihayashi, mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 532,671 M
PAYMENTSREGULAR CAPITAL Yen 40,000 M
TREND STEADY WORTH Yen 1,352,759 M
STARTED 2006 EMPLOYES 4,469
MFR OF PHOTO FILMS, PHOTOGRAPHY EQUIPMENT, WHOLLY OWNED BY FUJIFILM HOLDINGS CORP
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
The subject company
was established originally in 1934 on the basis of film division spun off from
present Daicel Chemical Ind. Top-ranked
photo film mfr and leading mfr of digital cameras. Shifted away from photo films into flat panel
display materials and medical image systems.
This business specializes in: imaging solutions, photography equipment,
information solutions, medical systems, life science systems, high-performance
materials, optical devices, graphic systems, recording media, other. In Oct 2006, formed a holding company,
Fujifilm Holdings Corp, and became its wholly owned subsidiary together with
Fuji Xerox Co Ltd, two major pillars of the group. Goods are shipped to two group firms for
distribution nationwide: Fujifilm Graphic Systems & Fujifilm Medical
Corp.
The sales volume
for Mar/2015 fiscal term amounted to Yen 532,672 million, a 3% down from Yen
551,150million in the previous term. The
recurring profit was posted at 42,223 million and the net profit at Yen 24,599
million, respectively, compared with Yen 20,403 million recurring profit and
Yen 7,863 million net profit, respectively, a year ago.
For the current
term ending Mar 2016 the recurring profit is projected at Yen 43,500 million
and the net profit at Yen 25,500 million, respectively, on a 3% rise in
turnover, to Yen 548,700 million. .
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date
Registered: Oct 2006
Regd
No.: 0104-01-064789 (Tokyo-Minatoku)
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 32,000 shares
Issued: 8,000 shares
Sum:
Yen 40,000 million
Major
shareholders (%): Fujifilm Holdings Corp* (100)
* Holding Company, born
by the Fujifilm group restructuring, listed Tokyo S/E, capital Yen 40,363
million, sales Yen 2,492,605 million, operating profit Yen 172,398 million,
recurring profit Yen 197,102 million, net profit Yen 118,553 million, Total
assets Yen 3,577,442 million, net worth Yen 2,254,979 million, employees
78,792, pres Shigehiro Nakajima, concurrently
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Engaged in
imaging & information businesses (100%):
Consumer Products (digital cameras,
3D image products, films & cameras, supplies);
Business Products
(medical
systems, life science systems, graphic systems, Photofinishing products, motion
picture films, recording media, office & industry).
Clients: [Mfrs, wholesalers]
Supplies exclusively to Fujifilm Graphic Systems & Fujifilm Medical Co (the
two subsidiaries)
No. of accounts: 1,000 – 2,000 (distributed
by the two subsidiaries)
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Fujifilm Holdings, Sankyo Chemical, Daicel Chemical Ind, Mitsui
& Co, Fujifilm Opt Materials, Wako Pure Chemical Ind, Sankyo Chemical,
Nippon Paper Ind, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption address
are owned and maintained satisfactorily.
Bank References:
SMBC (H/O)
Mitsui Sumitomo Trust Bank (H/O)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
548,700 |
532,672 |
551,150 |
552,013 |
|
Recur.
Profit |
|
43,500 |
42,223 |
20,403 |
12,434 |
|
Net
Profit |
|
25,500 |
24,599 |
7,863 |
14,394 |
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Total
Assets |
|
|
1,538,961 |
1,465,862 |
1,024,025 |
|
Current
Assets |
|
|
538,065 |
498,362 |
431,081 |
|
Current
Liabs |
|
|
149,496 |
137,735 |
135,093 |
|
Net
Worth |
|
|
1,352,759 |
1,316,495 |
1,311,648 |
|
Capital,
Paid-Up |
|
|
40,000 |
40,000 |
40,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.01 |
-3.35 |
-0.16 |
-14.95 |
|
Current Ratio |
|
.. |
359.92 |
361.83 |
319.10 |
|
N.Worth Ratio |
|
.. |
87.90 |
89.81 |
128.09 |
|
R.Profit/Sales |
|
7.93 |
7.93 |
3.70 |
2.25 |
|
N.Profit/Sales |
|
4.65 |
4.62 |
1.43 |
2.61 |
|
Return On Equity |
|
.. |
1.82 |
0.60 |
1.10 |
Notes: Forecast
(or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
Yen |
1 |
Rs.0.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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.