MIRA INFORM REPORT
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Report No. : |
307510 |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
KONICA MINOLTA INC |
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Registered Office : |
2-7-2 Marunouchi Chiyodaku Tokyo 100-7015 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
Dec., 1936 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Business Machines. |
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No. of Employees : |
40,401 |
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 |
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Maximum Credit Limit : |
Yen 20,384.9 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 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 |
Company
Name and address
KONICA MINOLTA INC
REGD NAME: Konica
Minolta KK
MAIN OFFICE: 2-7-2
Marunouchi Chiyodaku Tokyo 100-7015 JAPAN
Tel: 03-6250-2111 -
URL: http://www.konicaminolta.jp
E-Mail address: (Thru the URL)
ACTIVITIES
Mfg of business
machines
BRANCHES
Tokyo, Osaka,
other
OVERSEAS
Asia, Americas,
Europe, Mid East, other
FACTORIES
14 factories;
China, USA, France
CHIEF
EXEC
SHOEI YAMANA, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 943,759 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 37,519 M
TREND UP WORTH Yen
480,055 M
STARTED 1936 EMPLOYES 40,401
COMMENT
MFR OF BUSINESS MACHINES
FINANCIAL SITUATION COSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 20,384.9 MILLION, 30
DAYS NORMAL TERMS
Unit: In Million
Yen
Forecast figures for the 31/03/2015 fiscal
term.
HIGHLIGHTS
This is a holding
company formed thru business combination between Konica and Minolta. Pulled out
of camera and photo businesses in 2006. Midsize maker of business machines.
Also involved in digital radiography (DR) and TAC film used on the surfaces of
LCDs.
FINANCIAL
INFORMATION
The sales volume
for Mar/2014 fiscal term amounted to Yen 943,759 million, a 16.1% up from Yen
813,073 million in the previous term.
Sales of multifunction color copiers grew through expanded sales
channels in Europe via M&A in the preceding term, with higher earnings
value thanks to the weaker Yen. The
recurring profit was posted at Yen 54,621 million and the net profit at Yen
21,861 million, respectively, compared with Yen 38,901 million recurring profit
and Yen 15,124 million net profit, respectively, a year ago.
(Apr/Sept/2014
results): Sales Yen 478,594 million (up 6.2%), operating profit Yen 29,173
million (Up 20.7%), recurring profit Yen 28,669 million (up 33.4%), net profit
Yen 14,682 million (up 164.2%). (% as
compared with the corresponding period a year ago).
For the current
term ending Mar 2015 the recurring profit is projected at Yen 61,000 million
and the net profit at Yen 30,000 million, respectively, on a 7% rise in
turnover, to Yen 1,010,000 million.
Multifunction copier sales will be steady, offsetting a slump in LCD
materials.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 20,384.9 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Dec 1936
Legal Status: Limited
Company (Kabushiki Kaisha
Authorized: 1,200
million shares
Issued: 531,664,337
shares
Sum: Yen
37,519 million
Major
shareholders (%): Japan Trustee Services T (5.6), Master Trust Bank of Japan T (5.4),
Company’s Treasury Stock (3.1), MUFG (2.6), JP Morgan Chase Bank 385167 (2.2),
JTSB (SMBC) (2.2), Nippon Life Ins (2.1), Nomura (BOTMU) (2.0), Sajap (2.0),
Daido Life Ins (1.7); foreign owners (44.8)
No.
of shareholders: 18,677
Listed on the S/Exchange (s) of: Tokyo
Managements: Shoei Yamana, pres;
Takashi Sugiyama, s/mgn dir; Ken Osuga, mgn dir; Seiji Hatano, mgn dir;
Masatoshi Matsuzaki, dir; Shoji Kondo, dir; Hirokazu Yoshikawa, dir; Takashi
Enomoto, dir; Kazuaki Kama, dir; Akio Kitani, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies: Konica Minolta Business Technologies,
other.
OPERATION
Activities: Manufactures
business machines: information equipment (77%), industrial business (12%),
healthcare products (9%), others (2%)
Overseas
Sales Ratio (77%)
Clients: [Mfrs,
wholesalers] Konica Minolta Business Solutions, Konica Minolta Healthcare, Kinko’s Japan, other
Exports to overseas subsidiaries &
partners
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Konica Minolta
Supplies, Konica Minolta Opt Products, Konica Minolta Techno Products, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Nihombashi)
SMBC (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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943,759 |
813,073 |
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Cost of Sales |
492,269 |
437,487 |
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GROSS PROFIT |
451,490 |
373,585 |
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Selling & Adm Costs |
393,346 |
334,926 |
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OPERATING PROFIT |
58,144 |
38,659 |
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Non-Operating P/L |
-3,523 |
242 |
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RECURRING PROFIT |
54,621 |
38,901 |
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NET PROFIT |
21,861 |
15,124 |
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BALANCE SHEET |
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Cash |
|
95,490 |
93,413 |
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Receivables |
220,120 |
194,038 |
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Inventory |
115,275 |
112,479 |
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Securities, Marketable |
92,999 |
120,501 |
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Other Current Assets |
65,447 |
59,162 |
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TOTAL CURRENT ASSETS |
589,331 |
579,593 |
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Property & Equipment |
173,362 |
179,903 |
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Intangibles |
111,362 |
110,937 |
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Investments, Other Fixed Assets |
92,005 |
70,120 |
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TOTAL ASSETS |
966,060 |
940,553 |
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Payables |
96,240 |
86,424 |
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Short-Term Bank Loans |
37,078 |
67,398 |
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Other Current Liabs |
151,902 |
828,849 |
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TOTAL CURRENT LIABS |
285,220 |
982,671 |
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Debentures |
70,000 |
70,000 |
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Long-Term Bank Loans |
62,042 |
63,507 |
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Reserve for Retirement Allw |
53,563 |
43,754 |
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Other Debts |
|
15,180 |
(685,796) |
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TOTAL LIABILITIES |
486,005 |
474,136 |
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MINORITY INTERESTS |
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Common
stock |
37,519 |
37,519 |
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Additional
paid-in capital |
204,140 |
204,140 |
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Retained
earnings |
242,460 |
229,713 |
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Evaluation
p/l on investments/securities |
5,086 |
3,345 |
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Others |
8,172 |
(6,753) |
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Treasury
stock, at cost |
(17,322) |
(1,548) |
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TOTAL S/HOLDERS` EQUITY |
480,055 |
466,416 |
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TOTAL EQUITIES |
966,060 |
940,553 |
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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 |
|
89,945 |
66,467 |
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Cash
Flows from Investment Activities |
-55,776 |
-63,442 |
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Cash
Flows from Financing Activities |
-61,954 |
-24,596 |
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Cash,
Bank Deposits at the Term End |
|
188,489 |
213,914 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2014 |
31/03/2013 |
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Net Worth
(S/Holders' Equity) |
480,055 |
466,416 |
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Current
Ratio (%) |
206.62 |
58.98 |
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Net
Worth Ratio (%) |
49.69 |
49.59 |
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Recurring
Profit Ratio (%) |
5.79 |
4.78 |
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Net
Profit Ratio (%) |
2.32 |
1.86 |
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Return
On Equity (%) |
4.55 |
3.24 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.72 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.