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MIRA INFORM REPORT
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Report No. : |
509367 |
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Report Date : |
14.05.2018 |
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) : |
31.03.2017 |
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Date of Incorporation : |
July 1981 |
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Com. Reg. No.: |
1100-01-015271 (Niigata-Kamo) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures Cooking Utensils, Electric Home Appliances, Air-Cleaners,
Oil Stoves, Other (--100%) |
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No. of Employees : |
562 |
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 : |
Excellent |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 name & address
TOSHIBA HOME TECHNOLOGY CORPORATION
REGD NAME: Toshiba
Home Techno KK
MAIN OFFICE: 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, Kawasaki
OVERSEAS: Taipei,
China, Thailand
FACTORIES: At
the caption address, Niigata; Taipei, China
OFFICERS: HITOSHI
TAKAHATA, PRES Kazuya Miyake, dir
Masahiko Matsuda, dir Tetsuya Goto, dir
Takashi
Ishiwata, dir Tamotsu
Takei, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 34,284 M
PAYMENTS REGULAR CAPITAL Yen 3,000 M
TREND SLOW WORTH Yen
6,233 M
STARTED 1981 EMPLOYES 562
COMMENT: MFR OF COOKING UTENSILS, ELECTRIC HOME
APPLIANCES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
HIGHLIGHTS
The subject company was established on the basis of a division separated from Toshiba Corp (now owned by Toshiba Lifestyle Products & Services Corp). Hitoshi Takahata took the pres office in Jun/2017. 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.
FINANCIAL
INFORMATION
The sales volume for Mar/2017 fiscal term amounted to Yen 34,284 million, a 23% fall from Yen 44,601 million in the previous term. The recurring profit was posted at Yen 2,179 million and the net profit at Yen 1,408 million, respectively, compared with Yen 3,470 million recurring profit and Yen 2,159 million net profit, respectively, a year ago.
For the term that ended Mar 2018 the recurring profit was projected at Yen 2,200 million and the net profit at Yen 1,450 million, respectively, on a 3% rise in turnover, to Yen 35,315 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
REGISTRATION
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 Lifestyle
Products & Services Corp (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures cooking
utensils, electric home appliances, air-cleaners, oil stoves, 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 Lifestyle Products & Services Corp, Toshiba Consumer
Marketing, Lenovo Japan, Toshiba Fuel Cell Power System Corp, Toshiba Carrier,
Toshiba Energy System & Solutions Corp,
other
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Thai Toshiba Electric Ind, 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: Regular
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
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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35,315 |
34,284 |
44,601 |
38,764 |
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Recur.
Profit |
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2,200 |
2,179 |
3,470 |
1,198 |
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Net
Profit |
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1,450 |
1,408 |
2,159 |
553 |
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Total
Assets |
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16,608 |
18,430 |
15,920 |
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Net
Worth |
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6,233 |
4,901 |
3,581 |
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Capital,
Paid-Up |
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3,000 |
3,000 |
3,000 |
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Div.Ttl
in Million (¥) |
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0.00 |
399.00 |
663.96 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.01 |
-23.13 |
15.06 |
0.56 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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37.53 |
26.59 |
22.49 |
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N.Profit/Sales |
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4.11 |
4.11 |
4.84 |
1.43 |
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 67.22 |
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1 |
INR 90.87 |
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Euro |
1 |
INR 80.09 |
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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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NIS |
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Report Prepared
by : |
TPT |
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
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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.