MIRA INFORM REPORT
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Report No. : |
332962 |
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Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
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Name : |
TOSHIBA MEDICAL SYSTEMS CORPORATION |
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Registered Office : |
1385 Shimoishigami Otawara City Tochigi-Pref 324-8555 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
September 1948 |
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Com. Reg. No.: |
(Tochigi-Otawara) 013525 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of medical
equipment |
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No. of Employees : |
3,682 |
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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.
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Source
: CIA |
Company
name and address
TOSHIBA MEDICAL SYSTEMS CORPORATION
REGD NAME: Toshiba
Medical Systems KK
MAIN OFFICE: 1385
Shimoishigami Otawara City Tochigi-Pref 324-8555 JAPAN
Tel: 0287-26-5100
Fax: 0287-26-6050
URL: http//:www.toshiba-medical.co.jp
E-mail: info@toshiba-medicalco.jp
ACTIVITIES
Mfg of
medical equipment
BRANCHES
Tokyo,
Sapporo, Sendai, Osaka, Nagoya, Kobe, Brazil, other (Tot142)
OVERSEAS
USA, Europe,
China, India, Africa, other
FACTORIES
At the
caption address
OFFICER(S)
TOSHIO
TAKIGUCHI, PRES Nobuhiro Washio, mgn
dir
Hiroyuki Uchikura, mgn dir Yasuo
Nobuta, mgn dir
Yoshiyuki Sakamitsu, mgn dir Satoshi Tsunakawa, dir
Yen
Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 287,126 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 20,700 M
TREND UP WORTH Yen 56,388 M
STARTED 1948 EMPLOYES 3,682
COMMENT
MFR OF
MEDICAL EQUIPMENT, OWNED BY TOSHIBA CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
HIGHLIGHTS
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.
FINANCIAL
INFORMATION
The
sales volume for Mar/2013 fiscal term amounted to Yen 287,126 million, a 3% up
from Yen 277,450 million in the previous term.
Exports to Russia, China and other S/E Asian countries were robust. Domestic demand increased. The recurring profit was posted at Yen 31,953
million and the net profit at Yen 22,924 million, respectively, compared with
Yen 22,889 million recurring profit and Yen 15,867 million net profit,
respectively, a year ago. .
For
the current term ending Mar 2015 the recurring profit is projected at Yen33,000
million and the net profit at Yen 24,000 million, respectively, on a 5% rise in
turnover, to Yen 301,000 million.
Business is seen expanding steadily.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
REGISTRATION
Date Registered: Sept
1948
Regd No.: (Tochigi-Otawara)
013525
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 mfrs, Tokyo, founded 1904, listed Tokyo S/E, capital Yen
439,901 million, sales Yen 6,502,543 million, operating profit Yen 290,764
million, recurring profit Yen 180,938 million, net profit Yen 50,826 million,
total assets Yen 6,241,623 million, net worth Yen 1,229,056 million, employees
200,260, pres Hisao Tanaka
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
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: No Complaints
Location:
Business area in Otawara City, Tochigi-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
SMBC
(Tokyo)
Resona
Bank (Tokyo)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
301,000 |
287,126 |
277,450 |
254,959 |
|
Recur.
Profit |
|
33,000 |
31,953 |
22,889 |
11,965 |
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Net
Profit |
|
24,000 |
22,924 |
15,867 |
7,394 |
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Total
Assets |
|
|
190,110 |
168,556 |
157,613 |
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Current
Assets |
|
|
131,340 |
113,076 |
105,430 |
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Current
Liabs |
|
|
102,013 |
87,285 |
90,213 |
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Net
Worth |
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56,388 |
50,608 |
39,475 |
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Capital,
Paid-Up |
|
|
20,700 |
20,700 |
20,700 |
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Div.P.Share(¥) |
|
|
0.00 |
68.40 |
30.15 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.83 |
3.49 |
8.82 |
2.73 |
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Current Ratio |
|
.. |
128.75 |
129.55 |
116.87 |
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N.Worth Ratio |
|
.. |
29.66 |
30.02 |
25.05 |
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R.Profit/Sales |
|
10.96 |
11.13 |
8.25 |
4.69 |
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N.Profit/Sales |
|
7.97 |
7.98 |
5.72 |
2.90 |
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Return On Equity |
|
.. |
40.65 |
31.35 |
18.73 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.49 |
|
|
1 |
Rs.99.43 |
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Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.