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Report No. : |
301348 |
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Report Date : |
22.01.2015 |
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) : |
31.03.2014 |
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Date of Incorporation : |
October, 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 : |
5,618 |
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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Status : |
Satisfactory |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
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 5)
Kanagawa (2),
Shizuoka (2) (Tot 4)
SHIGETAKA KOMORI,
PRES Shigehiro Nakamura, rep dir
Koichi Tamai,
s/mgn dir Yuzo Toda, mgn dir
Toru Takahashi,
mgn dir Kenji
Mihayashi, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 551,150 M
PAYMENTSREGULAR CAPITAL Yen 40,000 M
TREND STEADY WORTH Yen 1,316,495 M
STARTED 2006 EMPLOYES 5,618
MFR OF PHOTO
FILMS, PHOTOGRAPHY EQUIPMENT, WHOLLY OWNED BY FUJIFILM HOLDINGS CORP
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
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. In Jan 2010 established Fujifilm
North America Corp.
The sales volume
for Mar/2014 fiscal term amounted to Yen 551,150 million, a slight down from
Yen 552,013 in the previous term. The recurring
profit was posted at 20,403 million and the net profit at Yen 7,863 million,
respectively, compared with Yen 12,434 million recurring profit and Yen 14,394
million net profit, respectively, a year ago.
For the current
term ending Mar 2015 the recurring profit is projected at Yen 21,000 million
and the net profit at Yen 8,000 million, respectively, on a 3% rise in
turnover, to Yen 567,000 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 2,439,953 million, operating profit Yen 140,808 million,
recurring profit Yen 157,154 million, net profit Yen 80,996 million, Total
assets Yen 3,302,592 million, net worth Yen 2,029,870 million, employees
79,192, 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 Photonix, Daicel Chemical Ind, Mitsui & Co, Fujifilm
Opt Materials, Wako Pure Chemical Ind, Sankyo Chemical, Daito Chemix, 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: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
567,000 |
551,150 |
552,013 |
649,059 |
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Recur.
Profit |
|
21,000 |
20,403 |
12,434 |
6,008 |
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Net
Profit |
|
8,000 |
7,863 |
14,394 |
2,038 |
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Total
Assets |
|
|
1,465,862 |
1,024,025 |
1,483,161 |
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Current
Assets |
|
|
498,362 |
431,081 |
463,764 |
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Current
Liabs |
|
|
137,735 |
135,093 |
188,837 |
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Net
Worth |
|
|
1,316,495 |
1,311,648 |
1,286,005 |
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Capital,
Paid-Up |
|
|
40,000 |
40,000 |
40,000 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.88 |
-0.16 |
-14.95 |
-6.29 |
|
Current Ratio |
|
.. |
361.83 |
319.10 |
245.59 |
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N.Worth Ratio |
|
.. |
89.81 |
128.09 |
86.71 |
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R.Profit/Sales |
|
3.70 |
3.70 |
2.25 |
0.93 |
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N.Profit/Sales |
|
1.41 |
1.43 |
2.61 |
0.31 |
|
Return On Equity |
|
.. |
0.60 |
1.10 |
0.16 |
Notes: Forecast (or estimated) figures for the
31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.93.49 |
|
Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.