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Report No. : |
322294 |
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Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
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Name : |
TOSHIBA HOME TECHNOLOGY CORPORATION |
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Registered Office : |
2570-1 Urasuda Kamo Niigata-Pref 959-1393 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
July 1981 |
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Com. Reg. No.: |
1100-01-015271 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures cooking utensils, electric home appliances, air-cleaners,
other (--100%) |
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No. of Employees : |
631 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a
longstanding debate on restructuring the economy and reining in Japan's huge
government debt, which amounts to more than 240% 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 2015, although the government
in 2014 decided to postpone the final phase of the increase until 2017 to give
the economy time to recover from the 2014 increase. 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 |
TOSHIBA HOME TECHNOLOGY
CORPORATION
Toshiba Home Techno KK
2570-1 Urasuda Kamo Niigata-Pref 959-1393 JAPAN
Tel: 0256-53-2511 Fax:
0256-53-0329
E-Mail address: tht@po.toshiba.co.jp
ACTIVITIES: Mfg of cooking utensils, electric home
appliances, other
BRANCHES: Tokyo, Osaka
OVERSEAS: Taipei, China
FACTORIES: At the caption address; Taipei, China
OFFICERS: YASUMASA MASUYAMA, PRES Mitsuru Kawamura, dir
Toshiharu
Yamazaki, dir Akira Okada, dir
Kazuhiko
Nagasaka, dir Kazuya Miyake,
dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 38,547 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 3,000 M
TREND STEADY WORTH Yen
3,779 M
STARTED 1981 EMPLOYES 631
COMMENT: MFR OF COOKING UTENSILS, ELECTRIC HOME
APPLIANCES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT
ENGAGEMENTS: US$300,000/TERMS O/A 90 DAYS.
The subject company was established on the basis of a division separated
from Toshiba Corp (now owned by Toshiba Home Appliance Corp). This is a specialized mfr of cooking
utensils, electric home appliances, humidifiers, electric fans, air cleaners,
other. Goods are exported to China, S/E
Asia, other. 60% of the goods are
shipped to Toshiba group firms.
The sales volume for Mar/2014 fiscal term amounted to Yen 38,547
million, a shade down from Yen 38,648 million in the previous term. The recurring profit was posted at Yen 1,332
million and the net profit at Yen 668 million, respectively, compared with Yen
1,572 million recurring profit and Yen 997 million net profit, respectively, a
year ago.
For the term that ended Mar 2015 the recurring profit was projected at Yen
1,400 million and the net profit at Yen 695 million, respectively, on a 5% rise
in turnover, to Yen 40,470 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jul
1981
Regd No.: 1100-01-015271
(Niigata-Kamo)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 24 million shares
Issued:
6 million
shares
Sum: Yen
3,000 million
Major shareholders
(%): Toshiba Home Appliances
Corp* (100)
*.. Mfr of refrigerators, Tokyo, founded 1991, capital Yen 13,500
million, sales Yen 151,092 million, net loss Yen 6,020 million, employees 705,
pres Toshiro Ishiwatari (figures are all for Mar/2013)
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
cooking utensils, electric home appliances, air-cleaners, other (--100%)
(Mfg Items):
Cooking Utensils: electric range
heaters, ovens, cooking heaters, vacuum flask, hot plate, vacuum pots, kettles,
humidifiers, others;
Living Utensils: humidifiers, pad
dryers, hair iron, hair dryers, steam irons, other;
Air Conditioning
Units: air cleaner, electric fan, humidifiers, dehumidifier, fan heaters, small-size
air-conditioners, other.
Clients: [Mfrs,
wholesalers] Toshiba Home Appliances Corp, Toshiba Consumer Marketing, Toshiba
Fuel Cell Power System Corp, Toshiba TCL (Hong Kong), Toshiba Life Style, Epson
Precision, Konica Minolta (Hong Kong), Fuji Xerox of Shenzhen, Toshiba Carrier
Corp, Electronics International Ltd, Dainichi Co Ltd, Lenovo Japan, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Thai Toshiba, Join-Star, Guangdong Electric Applications, Yeh
Brothers International, Control Component Co Ltd, Ya Horong Electronics
International Ltd, Nissin Kogyo Co, Toyoichi Tsusho Co, other.
Imports from China, Thailand, other
Payment record: No Complaints
Location: Business area in
Niigata. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Kyobashi)
Daishi Bank (Kamo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
40,470 |
38,547 |
38,648 |
35,095 |
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Recur. Profit |
|
1,400 |
1,332 |
1,572 |
679 |
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Net Profit |
|
695 |
668 |
997 |
122 |
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Total Assets |
|
|
17,757 |
18,934 |
18,515 |
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Current Assets |
|
|
12,157 |
13,508 |
13,110 |
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Current Liabs |
|
|
9,508 |
10,400 |
10,665 |
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Net Worth |
|
|
3,779 |
4,057 |
3,269 |
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Capital, Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
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Div.Ttl in Million(¥) |
|
|
1,040.6 |
229.8 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.99 |
-0.26 |
10.12 |
-4.34 |
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Current Ratio |
|
.. |
127.86 |
129.88 |
122.93 |
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N.Worth Ratio |
|
.. |
21.28 |
21.43 |
17.66 |
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R.Profit/Sales |
|
3.46 |
3.46 |
4.07 |
1.93 |
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N.Profit/Sales |
|
1.72 |
1.73 |
2.58 |
0.35 |
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Return On Equity |
|
.. |
17.68 |
24.57 |
3.73 |
Notes: Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.100.30 |
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Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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.