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MIRA
INFORM REPORT
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Report No. : |
512663 |
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Report Date : |
30.05.2018 |
IDENTIFICATION DETAILS
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Name : |
RICOH CO LTD |
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Registered Office : |
1-3-6 Naka-Magome Ohtaku Tokyo 143-0027 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2018 |
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Date of Incorporation : |
February, 1936 |
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Com. Reg. No.: |
0108-01-012579
(Tokyo-Ohtaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is engaged in Manufactures
OA equipment: Imaging & solutions (88%), industrial products (6%), others
(6%) Overseas Sales Ratio (62%) |
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No. of Employees : |
8,043 |
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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Maximum Credit Limit : |
YEN 41,184.2 MILLION |
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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 and address
RICOH CO LTD
REGD NAME: KK Ricoh
MAIN OFFICE: 1-3-6 Naka-Magome Ohtaku Tokyo 143-0027 JAPAN
Tel: 03-3777-8111
*.. The given address is group firm
E-Mail address: (thru the URL)
ACTIVITIES: Mfg of copiers, fax machines, other OA
equipment
BRANCHES: Tokyo, Kanagawa, Osaka, Shizuoka, other
(Tot 16)
OVERSEAS: North/South America, Europe,
Asia/Pacific/China (Tot 200 countries)
FACTORIES: Japan (4), USA (2), Europe (2),
Asia/Pacific/China (10)
CHIEF EXEC: YOSHINORI YAMASHITA, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 2,063,363 M
PAYMENTS REGULAR CAPITAL Yen
135,364 M
TREND STEADY WORTH Yen
909,565 M
STARTED 1936 EMPLOYES 8,043
COMMENT: MFR OF OA EQUIPMENT.
FINANCIAL SITUATION COSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 41,184.2 MILLION, 30
DAYS NORMAL TERMS
HIGHLIGHTS
This is the top mfr of OA
equipment such as copiers & Fax machines.
One of the big three office equipment mfrs along with Canon and
Xerox. Founded in 1936 to commercialize
products developed by the Institute of Physical & Chemist Research
(Riken). Has a strong domestic sales
networks, and built a direct sales structure through active M&A overseas. Manufacturing
mainly digital multifunction printers since the 1980s, and today is promoting
color models. Further
reinforcing the printing business, such as on demand printers. Acquired
thecamera business from Pentax in October 2011.Carrying out business
realignment, including domestic and overseas staff cuts from FY 2011 to FY
2013.
FINANCIAL INFORMATION
The sales volume for
Mar/2018 fiscal term amounted to Yen 2,063,363 million, a 1.70% up from Yen
2,028,899 million in the previous term.
The operations plunged into the deficit to post Yen 124,187 million
recurring loss and Yen 135,372 million net losses, respectively, compared with
Yen 29,955 million recurring profit and Yen 3,489 million net profit,
respectively, a year ago.
For the current term
ending Mar 2019 the recurring profit is projected at Yen 42,000 million and the
net profit at Yen 35,000 million, on a 0.65% fall in turnover, to Yen 2,050,000
million.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max
credit limit is estimated at Yen 41,184.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb
1936
Regd No.: 0108-01-012579
(Tokyo-Ohtaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,500 million shares
Issued:
744,912,078 shares
Sum: Yen 135,364 million
Major shareholders (%):
Master Trust Bank of Japan T (8.5), Japan Trustee Services Bank T (6.1), Nippon
Life Ins (3.9), Japan Trustee Services T9 (3.7), ECM MF (3.2), other
No. of shareholders:
47,059
Listed on the S/Exchange
(s) of: Tokyo, Nagoya, Sapporo, Fukuoka
Managements: Shiro Kondoh,
ch; Yoshinori Yamashita, pres; Yozo Matsuura, s/mgn dir; Kunihiko Sato, s/mgn
dir; Akira Ohyama, S/mgn dir; Nobuo Inaba, dir; Kunio Noji, dir; Minoru Azuma,
dir; Hiromi Iijima, dir; Mutsuko Hatano, dir
Nothing detrimental is
known as to the commercial morality of executives.
Related companies: Ricoh
Lease, Ricoh Elemex, Tohoku Ricoh, other
OPERATION
Activities: Manufactures
OA equipment: Imaging & solutions (88%), industrial products (6%), others
(6%) Overseas Sales Ratio (62%)
Clients: [Mfrs,
wholesalers]: Ricoh Japan, Ricoh Europe, Ricoh America Corp, Ricoh Asia Pacific
Operations, other
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers]: Ricoh Japan, Ricoh Asia Industry, Daiwabo Information System,
Otsuka Corp, NP Trading, Kinyosha Co, Shinko Chemical, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Ohtemachi)
MUFG (H/O)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2019 |
31/03/2018 |
31/03/2017 |
31/03/2016 |
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Annual Sales |
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2,050,000 |
2,063,363 |
2,028,899 |
2,209,028 |
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Recur. Profit |
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42,000 |
-124,187 |
29,955 |
95,684 |
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Net Profit |
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35,000 |
-135,372 |
3,489 |
62,975 |
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Total Assets |
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2,641,030 |
2,759,287 |
2,776,461 |
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Current Assets |
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1,327,978 |
1,239,214 |
1,273,295 |
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Current Liabs |
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788,522 |
806,924 |
806,868 |
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Net Worth |
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909,565 |
1,042,106 |
1,077,813 |
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Capital, Paid-Up |
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135,364 |
135,364 |
135,364 |
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Div.P.Share(¥) |
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15.00 |
35.00 |
35.00 |
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<Analytical
Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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-0.65 |
1.70 |
-8.15 |
-1.03 |
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Current Ratio |
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.. |
168.41 |
153.57 |
157.81 |
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N.Worth Ratio |
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.. |
34.44 |
37.77 |
38.82 |
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R.Profit/Sales |
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2.05 |
-6.02 |
1.48 |
4.33 |
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N.Profit/Sales |
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1.71 |
-6.56 |
0.17 |
2.85 |
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Return On Equity |
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.. |
-14.88 |
0.33 |
5.84 |
Notes: Forecast (or
estimated) figures for the 31/03/2019 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 67.63 |
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1 |
INR 89.70 |
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Euro |
1 |
INR 78.20 |
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JPY |
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 : |
DNS |
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
·
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.