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MIRA INFORM REPORT
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Report No. : |
516006 |
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Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
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Name : |
MAXELL HOLDINGS LTD |
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Registered Office : |
Taiyo Seimei Shinagawa Bldg 21F, 2-16-2 Konan Minatoku Tokyo 108-0075 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2017 |
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Date of Incorporation : |
September 1960 |
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Com. Reg. No.: |
1209-01-001761 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures energy, industrial parts & materials, home appliances
& consumer |
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No. of Employees : |
1,863 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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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
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Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
JAPAN - ECONOMIC OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (slightly less than 1% of GDP) have helped Japan develop an advanced economy. Two notable characteristics of the post-World War II 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 have significantly eroded under the dual pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price differences, Japan in 2017 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. For three postwar decades, overall real economic growth was impressive - averaging 10% in the 1960s, 5% in the 1970s, and 4% in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the aftereffects of inefficient investment and the collapse of an asset price bubble in the late 1980s, which resulted in several years of economic stagnation as firms sought to reduce excess debt, capital, and labor. Modest economic growth continued after 2000, but the economy has fallen into recession four times since 2008.
Japan enjoyed an uptick in growth since 2013, supported by Prime Minister Shinzo ABE’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary easing, “flexible” fiscal policy, and structural reform. Led by the Bank of Japan’s aggressive monetary easing, Japan is making modest progress in ending deflation, but demographic decline – a low birthrate and an aging, shrinking population – poses a major long-term challenge for the economy. The government currently faces the quandary of balancing its efforts to stimulate growth and institute economic reforms with the need to address its sizable public debt, which stands at 235% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate. However, the first such increase, in April 2014, led to a sharp contraction, so Prime Minister ABE has twice postponed the next increase, which is now scheduled for October 2019. Structural reforms to unlock productivity are seen as central to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on imported energy and raw materials. After the complete shutdown of Japan’s nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than before on imported fossil fuels. However, ABE’s government is seeking to restart nuclear power plants that meet strict new safety standards and is emphasizing nuclear energy’s importance as a base-load electricity source. In August 2015, Japan successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in Kagoshima prefecture, and several other reactors around the country have since resumed operations; however, opposition from local governments has delayed several more restarts that remain pending. Reforms of the electricity and gas sectors, including full liberalization of Japan’s energy market in April 2016 and gas market in April 2017, constitute an important part of Prime Minister Abe’s economic program.
Under the Abe Administration, Japan’s government sought to open the country’s economy to greater foreign competition and create new export opportunities for Japanese businesses, including by joining 11 trading partners in the Trans-Pacific Partnership (TPP). Japan became the first country to ratify the TPP in December 2016, but the United States signaled its withdrawal from the agreement in January 2017. In November 2017 the remaining 11 countries agreed on the core elements of a modified agreement, which they renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Japan also reached agreement with the European Union on an Economic Partnership Agreement in July 2017, and is likely seek to ratify both agreements in the Diet this year.
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Source
: CIA |
Company
summary
MAXELL
HOLDINGS LTD
REGD
NAME: Maxell Holdings KK
MAIN
OFFICE: Taiyo Seimei Shinagawa Bldg 21F,
2-16-2 Konan Minatoku Tokyo 108-0075 JAPAN
Tel:
03-5715-7037 Fax: 03-5463-6550
*..
The corporate name changed to captioned and moved to the caption address in Oct/2017
URL: http//:www.maxell.co.jp
E-mail: (thru
the URL)
ACTIVITIES: Mfg of video tapes, DVD, batteries, floppy
disks, other
BRANCHES: Kyoto
OVERSEAS: USA, Europe, Asia (9 of which 4 in China)
FACTORIES: Kyoto (2), Osaka, Hyogo, Toyama
OVERSEAS: China, Mexico, Malaysia (--subsidiary
makers)
OFFICER(S): YOSHIHARU KATSUTA, PRES Yoshihiro Senzai, ch
Akira Iwasaki, dir Ken’ichi
Yoshitake, dir
Katsunori
Ikegami, dir Koji
Norihira, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 135,116 M
PAYMENTS REGULAR CAPITAL Yen 12,203 M
TREND SLOW WORTH Yen
116,420 M
STARTED 1960 EMPLOYES 1,863
COMMENT
MFR OF MAGNETIC TAPES, OTHER, WHOLLY OWNED
BY HITACHI LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
HIGHLIGHTS
This is a major
mfr of magnetic tapes for computers as a mainline. Originally started with production of dry
cell batteries, which is how Maxell got its name. The Maxell brand name was created by
shortening the phrase, “maximum capacity dry cell”. Known for strong brand name video tapes and
DVDs. In 2010 became a wholly owned
subsidiary of Hitachi Ltd and simultaneously delisted from Tokyo & Osaka
S/E’s. MO disks and lithium-ion
secondary batteries are growing rapidly.
Products are both imported and exported.
FINANCIAL
INFORMATION
The sales volume
for Mar 2017 fiscal term amounted to Yen 135,116 million, a 13.51% down from
Yen 156,216 million in the previous term.
Sales volume of optical disks fell substantially, hit by shrinking
markets. The recurring profit was posted
at Yen 7,387 million and the net profit at Yen 5,724 million, respectively,
compared with Yen 6.697 million recurring profit and Yen 3,931 million net
profit, respectively, a year ago.
For the term that
ended Mar 2018 the recurring profit was projected at Yen 9,000 million and the
net profit at Yen 6,700 million, respectively, on a 3.61% rise in turnover, to
Yen 140,000 million. Final results are
yet to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
REGISTRATION
Date
Registered: Sept 1960
Regd
No.:
1209-01-001761 (Tokyo-Minatoku)
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 284,800,000 shares
Issued: 53,241,500 shares
Sum:
Yen 12,203 million
Major shareholders (%): Hitachi Ltd (14.6), Japan Trustee Services Bank (14.1), other; foreign owners (44.1)
Number
of shareholders: 9,401
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Manufactures
energy (26%), industrial parts & materials (32%), home appliances &
consumer (42%)
Overseas Sales
Ratio (54%)
Clients: [Mfrs,
wholesalers] Hitachi Hi-Technologies, Nintendo Co, Maxell, Maxell Europe, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hitachi Maxell Global, other.
Payment
record: Regular
Location: Business area in Tokyo. Office premises at the caption address are
leased maintained satisfactorily.
Bank References:
MUFG
(Osaka)
Mizuho
Bank (Ibaraki)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/03/2018 |
31/03/2017 |
31/03/2016 |
31/03/2015 |
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Annual Sales |
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140,000 |
135,116 |
156,216 |
156,033 |
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Recur. Profit |
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9,000 |
7,387 |
6,697 |
5,470 |
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Net Profit |
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6,700 |
5,724 |
3,931 |
6,820 |
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Total Assets |
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159,517 |
154,485 |
160,736 |
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Net Worth |
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116,420 |
112,100 |
116,848 |
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Capital, Paid-Up |
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12,203 |
12,203 |
12,203 |
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Div.P.Share(¥) |
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36.00 |
36.00 |
63.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.61 |
-13.51 |
0.12 |
5.09 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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72.98 |
72.56 |
72.70 |
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N.Profit/Sales |
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4.79 |
4.24 |
2.52 |
4.37 |
Notes: Forecast (or estimated) figures for the
31/03/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.20 |
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1 |
INR 89.58 |
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Euro |
1 |
INR 78.79 |
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Yen |
1 |
INR 0.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.