Mhi Report 2020 Financial Section Impairment Loss

Total Page:16

File Type:pdf, Size:1020Kb

Mhi Report 2020 Financial Section Impairment Loss MHI REPORT 2020 MITSUBISHI HEAVY INDUSTRIES GROUP FINANCIAL SECTION For the Year Ended March 31, MHI REPORT 2020 FINANCIAL SECTION For the Year Ended March 31, 2020 SEGMENT INFORMATION Mitsubishi Heavy Industries, Ltd. and Consolidated Subsidiaries Fiscal years ended March 31, 2019 and 2020 REVENUE Thousands of Millions of yen U.S. dollars Billions of yen 5,000 Industry Segment 2019 2020 2020 Power Systems ¥1,525,108 ¥1,590,293 $14,612,634 4,000 Industry & Infrastructure 1,907,871 1,778,095 16,338,279 Power Systems Aircraft, Defense & Space 677,577 704,985 6,477,855 3,000 Others 71,661 75,190 690,894 2,000 Industry & Subtotal 4,182,218 4,148,565 38,119,682 Infrastructure 1,000 Eliminations or Corporate (103,874) (107,189) (984,921) Aircraft, Defense & Space Total ¥4,078,344 ¥4,041,376 $37,134,760 0 2019 2020 Others, Eliminations or Corporate PROFIT FROM BUSINESS ACTIVITIES Thousands of Millions of yen U.S. dollars Billions of yen Industry Segment 2019 2020 2020 240 Power Systems ¥133,196 ¥144,383 $1,326,683 Power Systems Industry & Infrastructure 70,753 54,883 504,300 120 Aircraft, Defense & Space (28,230) (208,792) (1,918,515) Industry & Infrastructure 0 Others 39,156 6,565 60,323 Aircraft, Defense Subtotal 214,876 (2,958) (27,180) & Space -120 Eliminations or Corporate (14,305) (26,579) (244,224) Others, Eliminations Total ¥200,570 ¥ (29,538) $ (271,414) or Corporate -240 2019 2020 DEPRECIATION AND AMORTIZATION Thousands of Millions of yen U.S. dollars Industry Segment 2019 2020 2020 Power Systems ¥ 42,861 ¥ 47,085 $ 432,647 Industry & Infrastructure 51,187 57,015 523,890 Aircraft, Defense & Space 29,982 27,082 248,846 Others 6,263 1,970 18,101 Subtotal 130,294 133,154 1,223,504 Corporate 5,364 11,485 105,531 Total ¥135,658 ¥144,639 $1,329,036 1 MHI REPORT 2020 FINANCIAL SECTION IMPAIRMENT LOSS Thousands of Millions of yen U.S. dollars Industry Segment 2019 2020 2020 Power Systems ¥ 1,263 ¥ 717 $ 6,588 Industry & Infrastructure 658 258 2,370 Aircraft, Defense & Space 61,459 177,563 1,631,562 Others 2,081 — — Subtotal 65,463 178,538 1,640,521 Corporate 700 833 7,654 Total ¥66,163 ¥179,372 $1,648,185 SHARE OF PROFIT OF INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD Millions of yen Thousands of U.S. dollars Industry Segment 2019 2020 2020 Power Systems ¥8,187 ¥ 8,299 $ 76,256 Industry & Infrastructure 2,036 (699) (6,422) Aircraft, Defense & Space — — — Others 1,668 4,552 41,826 Subtotal 11,891 12,153 111,669 Corporate (954) 745 6,845 Total ¥10,937 ¥12,898 $118,515 REVENUE Millions of yen Thousands of Composition of Overseas Revenue U.S. dollars Breakdown of Revenue by by Geographic Distribution Customer Location 2019 2020 2020 Japan ¥1,877,497 ¥1,944,758 $17,869,686 Middle East 2.3% U.S.A. 627,167 663,779 6,099,228 Africa Others 1.5% 1.8% Asia 737,650 700,385 6,435,587 Central and South America Europe 418,514 374,459 3,440,770 3.3% Europe Central and South America 132,015 131,706 1,210,199 9.3% Japan Africa 91,304 60,379 554,801 48.1% Asia Middle East 123,721 91,267 838,619 17.3% Others 70,473 74,640 685,840 U.S.A. Total ¥4,078,344 ¥4,041,376 $37,134,760 16.4% Note: ‌U.S. dollar amounts in this annual report are translated from yen, for convenience only, at the rate of ¥108.83=US$1, the exchange rate prevailing at March 31, 2020. MITSUBISHI HEAVY INDUSTRIES GROUP 2 MANAGEMENT’S DISCUSSION AND ANALYSIS » ANALYSIS OF OPERATING RESULTS decrease in non-controlling interests as a result of the above- mentioned settlement. Consolidated revenue decreased ¥36.9 billion, or 0.9% year on year, to ¥4,041.3 billion, due to lower revenue from the Industry & Infrastructure segment, despite increased revenue » SOURCE OF FUNDS AND LIQUIDITY in the Power Systems segment and the Aircraft, Defense & Cash Flow Analysis Space segment. Although profit from business activities rose Net cash provided by operating activities amounted to ¥452.5 in the Power Systems segment, an impairment loss on assets billion, ¥32.2 billion more than in the prior year. This figure related to the Mitsubishi SpaceJet was recorded in the reflected a decrease in indemnification asset for South African Aircraft, Defense & Space segment. As a result, profit from projects, despite a decline in profit before income taxes. business activities deteriorated ¥230.1 billion, to a loss of Investing activities used net cash of ¥239.5 billion, ¥77.6 ¥29.5 billion, and profit before income taxes worsened ¥227.7 billion more than in the prior year. Major uses of cash were for billion, to a loss of ¥32.6 billion. Profit attributable to owners purchases of property, plant and equipment and intangible of the parent decreased ¥23.1 billion, or 21.0%, to ¥87.1 billion, assets, as well as payments for acquisition of subsidiaries. despite the recognition of deferred tax assets. Net cash used in financing activities came to ¥204.4 billion, ¥66.5 billion less than in the preceding fiscal year. A key » ANALYSIS OF FINANCIAL POSITION source of cash was proceeds from long-term borrowings. Total assets as of March 31, 2020, were ¥4,985.6 billion, down Primary Funding Requirements ¥254.6 billion from the prior year, mainly due to a decrease in MHI Group primarily requires funds in operating activities for indemnification asset for South African projects as a result of working capital for manufacturing activities (materials, out- the receipt of settlement payments from Hitachi, Ltd. (herein- sourcing, and personnel costs), business development after referred to as “Hitachi”). expenses and other selling expenses related to winning new Total liabilities were ¥3,695.6 billion, up ¥183.9 billion from orders, and R&D expenses that enhance the competitiveness the fiscal year ended March 31, 2019. The increase was the of its products, strengthen manufacturing capabilities and result of a rise in other financial liabilities due to a settlement enable the launch of new businesses. In investing activities, agreement with Hitachi, under which all the shares of funds are required for capital investments to grow busi- Mitsubishi Hitachi Power Systems, Ltd., held by Hitachi are to nesses, raise productivity, and enable the launch of new be acquired by MHI. businesses, as well as for the purchase of investment securi- Total equity came to ¥1,290.0 billion, down ¥438.6 billion ties related to the execution of business strategies. from the end of the previous fiscal year, mainly due to a CONSOLIDATED BALANCE SHEETS In billions of yen Total assets Total assets 5,240.3 4,985.6 Cash and Cash and cash Interest-bearing cash Interest-bearing equivalents liabilities equivalents liabilities 283.2 813.1 281.6 598.2 Other assets Other liabilities 4,957.1 2,741.7 Other assets Other liabilities 4,704.0 3,097.3 Non-controlling interests Non-controlling 317.1 interests 71.7 Equity attributable Equity attributable to owners of the to owners of the parent parent 1,411.5 1,218.3 FY2018 FY2019 Equity ratio ............................................... ��������������������������� 26.9% Equity ratio ............................................... ��������������������������� 24.4% D/E ratio ������������������������������������������������������������������������������������������������������������������������������� 38.48% D/E ratio ������������������������������������������������������������������������������������������������������������������������������� 46.38% ROE . �������������������������������� 7.9% ROE . ��������������������������������� 6.6% 3 MHI REPORT 2020 FINANCIAL SECTION In growth areas, MHI Group is planning to purchase invest- trade receivables and inventories and by raising the utilization ment securities and execute necessary capital investments rate of its property, plant and equipment. and R&D investment. As a whole, the Group plans to stream- MHI Group considers the repurchase of treasury stock by line its assets and selectively concentrate on core investment taking into overall account a number of factors, including the schemes, while anticipating funding requirements in future state of progress on business plans, the Company’s perfor- growth fields and closely monitoring the latest market envi- mance outlook, stock price trends, financial condition, and ronments and order trends. improvements in the financial market environment. Breakdown of Interest-Bearing Debt and its Applications » DIVIDEND POLICY The breakdown of interest-bearing debt as of March 31, 2020, Under the 2018 Medium-Term Business Plan, the Group for- was as follows: mulated a basic policy of providing returns to shareholders at In billions of yen a dividend payout ratio of around 30%, while giving consider- Due within Due after Total one year one year ation to the balance between business growth and financial Short-term borrowings 64.7 64.7 — stability. We will continue to uphold our basic policy on provid- Commercial paper 85.0 85.0 — ing returns to shareholders. (Evaluation of the dividend payout Long-term borrowings 308.5 58.0 250.5 ratio excludes the investments in Mitsubishi SpaceJet because of its long-term payback period.) Bonds 140.0 10.0 130.0 As decided in MHI’s Articles of Incorporation, the Group Total 598.2 217.7 380.5 pays dividends from retained earnings to shareholders twice MHI Group is involved in various projects with compara- a year. These payments consist of an interim dividend with a tively long construction periods. It also owns numerous record date of September 30 and a year-end dividend with a manufacturing facilities that employ large-scale machinery. record date of March 31. Decisions on interim dividend pay- Consequently, MHI Group must secure a stable level of work- ments are made by the Board of Directors, and decisions on ing capital and funds for capital investments.
Recommended publications
  • Notice of Convocation of the 120Th Ordinary General Meeting of Shareholders of Mitsubishi Estate Co., Ltd
    [Translation for Reference and Convenience Purposes Only] Please note that the following is an unofficial English translation of Japanese original text of the Notice of Convocation of the 120th Ordinary General Meeting of Shareholders of Mitsubishi Estate Co., Ltd. The Company provides this translation for reference and convenience purposes only and without any warranty as to its accuracy or otherwise. In the event of any discrepancy between this translation and the Japanese original, the latter shall prevail. (Securities Code: 8802) June 5, 2019 Dear Shareholders Junichi Yoshida Director, President and Chief Executive Officer 1-1, Otemachi 1-chome, Chiyoda-ku, Tokyo NOTICE OF CONVOCATION OF THE 120th ORDINARY GENERAL MEETING OF SHAREHOLDERS You are cordially invited to attend the 120th Ordinary General Meeting of Shareholders of Mitsubishi Estate Co., Ltd. (the “Company”), to be held as follows. If you are unable to attend the meeting, you may otherwise exercise your voting rights in writing (by mail) or by electromagnetic means (the Internet, etc.). Please read the attached REFERENCE DOCUMENTS FOR THE GENERAL MEETING OF SHAREHOLDERS provided below, and you are requested to exercise your voting rights by 5:45 p.m., on Wednesday, June 26, 2019. 1. Time and Date: 10 a.m., Thursday, June 27, 2019 2. Place: Royal Park Hotel, 3F, Royal Hall, 1-1, Nihonbashi-Kakigara-cho 2-chome, Chuo-ku, Tokyo 3. Objectives of the Meeting: Reports: 1. Reports on Business Report and Consolidated Financial Statements, as well as Results of the Audits of the Consolidated Financial Statements by the Accounting Auditor and Audit Committee for Fiscal 2018 (From April 1, 2018, to March 31, 2019) 2.
    [Show full text]
  • Part VII Transfers Pursuant to the UK Financial Services and Markets Act 2000
    PART VII TRANSFERS EFFECTED PURSUANT TO THE UK FINANCIAL SERVICES AND MARKETS ACT 2000 www.sidley.com/partvii Sidley Austin LLP, London is able to provide legal advice in relation to insurance business transfer schemes under Part VII of the UK Financial Services and Markets Act 2000 (“FSMA”). This service extends to advising upon the applicability of FSMA to particular transfers (including transfers involving insurance business domiciled outside the UK), advising parties to transfers as well as those affected by them including reinsurers, liaising with the FSA and policyholders, and obtaining sanction of the transfer in the English High Court. For more information on Part VII transfers, please contact: Martin Membery at [email protected] or telephone + 44 (0) 20 7360 3614. If you would like details of a Part VII transfer added to this website, please email Martin Membery at the address above. Disclaimer for Part VII Transfers Web Page The information contained in the following tables contained in this webpage (the “Information”) has been collated by Sidley Austin LLP, London (together with Sidley Austin LLP, the “Firm”) using publicly-available sources. The Information is not intended to be, and does not constitute, legal advice. The posting of the Information onto the Firm's website is not intended by the Firm as an offer to provide legal advice or any other services to any person accessing the Firm's website; nor does it constitute an offer by the Firm to enter into any contractual relationship. The accessing of the Information by any person will not give rise to any lawyer-client relationship, or any contractual relationship, between that person and the Firm.
    [Show full text]
  • What Kind of Products and Services Did Instech Bring Forth and What Has Been Changed?
    What kind of products and services did InsTech bring forth and what has been changed? 1 Contents ①Sumitomo Life Insurance Company Vitality, Health Promotion Product, Discount on Premium, Sales Trend, Changes in Health Consciousness, New Sales Promotion. ②Dai-ichi Life Insurance Company, Limited InsTech, Dai-ichi Life Innovation Lab, Dementia Insurance, Web Application Snap Insurance. ③Nippon Life Insurance Company RPA Initiatives, PoC: Highly Effective Extraction of Target Customers 2 Kenichi Suzuki Managing Editor of the Editorial and Sales Department of Hoken Joho, a specialized insurance marketing newspaper. Hoken Joho features a wide variety of information, such as management strategies, marketing strategies, education systems, sales skills/motivational enhancement/guidance on activities for sales representatives, and the latest trends in foreign countries. <Interview themes after the 1990s are as follows:> ☆ A series of bankruptcies of life insurance companies that had happened since 1997 (such as 7 medium-sized life insurance companies) ☆ Deregulation/liberalization (such as reciprocal extension of life and non-life insurance businesses) ☆ The non-payment of insurance claims after 2003 and the management innovation afterwards ☆ The moves of the online life insurance companies and the moves of the insurance shops which have been rapidly expanding as a new channel ☆ The latest moves of InsureTech He presides over Society for Research on Insurance Marketing. He has given lectures at seminars in Japan and abroad held by Oriental Life Insurance Cultural Development Center (OLIS). Such overseas seminars include those held in Taipei, Beijing, Seoul, Bangkok, and Jakarta. The Latest News in Japan’s Life Insurance Market 2019 (in English and Chinese) is currently serialized on the OLIS website.
    [Show full text]
  • Press Release
    Press release The ATMEA1 reactor pre-qualified in Argentina Paris, July 12, 2012 The national utility Nucleoeléctrica Argentina (NA-SA) has informed ATMEA that it had pre-qualified the ATMEA1 technology for the next Request For Proposals that will be issued for the construction of its fourth nuclear power plant. By pre-selecting the ATMEA1 technology, NA-SA acknowledges that the ATMEA1 reactor is a qualified design that could meet the most stringent safety requirements and fit needs of the NA-SA. “After Jordan pre-selection of the ATMEA1 design last May and as confirmed by the recent positive statement of the French Safety Authority ASN on the ATMEA1 reactor’s safety options, this NA-SA decision confirms the trust being placed in the ATMEA1 technology. I’m confident that its design will fulfil stringent Argentina’s requirements, with its highest safety level as a Generation III+ reactor, its proven technology and its superior operation performance”, outlined Philippe Namy, ATMEA President. In 2006, Argentina announced the reactivation of a strategic plan for the country’s nuclear power sector, including the construction of a fourth nuclear reactor. The ATMEA1 reactor is a pressurized water reactor of 1,100 MWe, intended for any types of electrical networks and in particular for medium power grids. It was designed and developed by ATMEA, the 50/50 Joint Venture created in 2007 by Mitsubishi Heavy Industries and AREVA. Taking support on these two parent companies, ATMEA capitalizes on their experience of about 130 nuclear power plants which are operating in the world for around 50 years, and representing approximately 3300 cumulative reactor years of operation.
    [Show full text]
  • Notice of Convocation of the 121St Ordinary General Meeting of Shareholders of Mitsubishi Estate Co., Ltd
    [Translation for Reference and Convenience Purposes Only] Please note that the following is an unofficial English translation of Japanese original text of the Notice of Convocation of the 121st Ordinary General Meeting of Shareholders of Mitsubishi Estate Co., Ltd. The Company provides this translation for reference and convenience purposes only and without any warranty as to its accuracy or otherwise. In the event of any discrepancy between this translation and the Japanese original, the latter shall prevail. (Securities Code: 8802) In response to the spread of the novel coronavirus disease (COVID-19), you are strongly recommended to exercise your voting rights in writing or via the internet instead. Shareholders attending this General Meeting of Shareholders in person are requested to take note of your own health condition and check the status of infection NOTICE OF on the date of the meeting. In addition, we plan to take the following measures to prevent the spread of COVID-19. We appreciate CONVOCATION your kind understanding. - We ask that you disinfect with an alcohol disinfectant and wear a face mask before coming to the reception desk. OF THE 121st - Furthermore, we will take the temperature of attendees and anyone who is suspected of being infected by COVID-19 due to symptoms such as ORDINARY GENERAL MEETING having a fever (37.5 degrees C or above) or cough OF SHAREHOLDERS will be refused entry. - We kindly ask that any shareholder who has returned to Japan within 14 days of the meeting refrain from attending in person. Time and Date: 10 a.m., Friday, June 26, 2020 - As we will be increasing the space between Place: shareholders’ seats at the venue, it is possible that Royal Park Hotel, 3F, Royal Hall, 1-1, Nihonbashi-Kakigara-cho 2-chome, we will not be able to provide sufficient seats, so we may restrict entry.
    [Show full text]
  • The Corporate Culture in a Japanese Bank: Study of the Changing Organizational World
    The Corporate Culture in a Japanese Bank: Study of the Changing Organizational World by HIROFUMI HOJO B.A. Law, Keio University (1986) SUBMITTED TO THE MIT SLOAN SCHOOL OF MANAGEMENT IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF SCIENCE IN MANAGEMENT at the MASSACHUSETTS INSTITUTE OF TECHNOLOGY June 2005 © Hirofumi Hojo 2005. All rights reserved. The author hereby grants to MIT permission to reproduce and to distribute publicly paper and electronic copies of this thesis document in whole or in part. ^ /' Ar Signature of Author: 'I (! J MIT SloVn School of Management May 6, 2005 Certified by: I John E. Van Maanen Erwin H. Schell Professor of Organization Studies Thesis Advisor Accepted by: / I I , / Stephen J. Sacca Director, Sloan Fellows Program in Innovation and Global Leadership lMASSACHUSETSINSTITE OF TECHNOLOGY 'A I IX~IFtes SEP 012005 LIBRARIES 2 The Corporate Culture in a Japanese Bank: Study of the Changing Organizational World by HIROFUMI HOJO Submitted to the MIT Sloan School of Management on May 6, 2005 in partial fulfillment of the requirements for the Degree of Master of Science in Management ABSTRACT The environment surrounding companies is constantly changing. and that change forces companies into paradigm shifts. If a company cannot cope with change, it faces the distinct possibility of being be weeded out of the industry. Today, Japanese companies are facing dramatic environmental change. For example, the introduction of new global accounting rules is changing the behavior of equity holders. The long and deep recession following the collapse of the Japanese "bubble" economy continues to sap the economic energy of many Japanese companies, and most leaders of those companies still struggle to find new ways to exit from this dark tunnel.
    [Show full text]
  • Committee Chairman Yukihiro SATO Senior Executive Adbisor, Mitsubishi Electric Corporation Deputy Committee Chairman Toshizo
    No.1 List of Corporate Finance Executive Committee Members Committee Chairman Yukihiro SATO Senior Executive Adbisor, Mitsubishi Electric Corporation Deputy Committee Chairman Toshizo TANAKA Representative Director, Executive Vice President & CFO, CANON INC. Committee Members Board Director, Managing Executive Officer, General Manager of Finance & Accounting Ichiro TERAI Division, IHI Corporation Setsuji KIMURA Auditior, Aichi Sangyo Co., LTD. Hideki KOBORI Director, Senior Executive Officer, ASAHI KASEI CORPORATION Takao KATO Corporate Senior Vice President, Accounting Headquaters, ORIX Corporation Mikio FUJITSUKA Director, Senior Executive Officer and Chief Financial Officer, Komatsu LTD. Director, Senior Vice President, Corporate Planning DepartmentⅡ , Finance & Investor Ichiro UCHIJIMA Relations Department, JX Holdings, Inc. Nobuya HARA Executive Assistant, General Manager, Comptroller's Dept., JFE Holdings, Inc. Executive Vice President & representative Director, Chief Financial Officer, Shimizu Seikichi KUROSAWA Corporation Representative Director and Executive Vice President, Nippon Steel & Sumitomo Metal Katsuhiko OTA Corporation Kunio NOZAKI Managing Executive Officer, Sumitomo Chemical Co., LTD. Koichi TAKAHATA Managing Executive Officer, Sumitomo Corporation Director and Chief Financial Officer, Executive Officer, Finance Planning Dept, Kunio TAKAHASHI Seven & I HLDGS. CO., LTD Masaru KATO EVP and Chief Financial Officer, Corporate Excective Officer, Sony Corporation Yoshiaki NISHIURA President, Tokai Rubber Group Katsuyuki
    [Show full text]
  • NIKON REPORT 2018 Unleashing the Limitless Possibilities of Light
    NIKON REPORT 2018 Year Ended March 31, 2018 Unlock the future with the power of light Unleashing the limitless possibilities of light. Striving to brighten the human experience. Focused, with purpose, on a better future for all. THIS IS THE ESSENCE OF NIKON. Creation of New Value by Unlocking the Future with the Power of Light Throughout a century since its founding, Nikon has continued to win customer trust by contributing to the development of society with products and solutions based on its core opto-electronics and precision technologies. The technologies, the human resources, and the brand cultivated through this process have become reliable strengths supporting Nikon today. After completing the restructuring that began in November 2016, it will be crucial to further hone these strengths and fulfill our role as the “new eyes for people and industry” in order to create new value and support our growth strategies. Our vision formulated in 2017 will guide us in fostering corporate culture in which each employee is encouraged to think about what is necessary in order to accomplish growth and to tackle the challenges this introspection reveals. With this culture, everyone at Nikon will unite in our quest to consistently create corporate value. Nikon Report 2018 puts a spotlight on the value we have provided thus far and the strengths cultivated over the years. Moreover, the report seeks to communicate the basis for the growth strategies to be implemented after the completion of the restructuring and the tasks that will need to be addressed in order to effectively implement those strategies.
    [Show full text]
  • The Demonstra#On of Smart City and Expansion to the Urban Disaster
    1 The demonstraon of smart city and expansion to the urban disaster recovery promo-on area in Japan Toshiba corporaon Community Solu-on Div. Yoshimasa Kudo 2 Contents ! " Japanese Smart City Demonstraon ! " Toshiba’s success story - Miyako island smart grid system - Yokohama smart city project ! " Concept of Toshiba’s smart city ! " Urban disaster recovery area in Japan 3 Contents ! " Japanese Smart City Demonstraon ! " Toshiba’s success story - Miyako island smart grid system - Yokohama smart city project ! " Concept of Toshiba’s smart city ! " Urban disaster recovery area in Japan 4 Roadmap of smart city project 2009 2010 2011 2012 2013 2014 2015 - Miyako island smart grid project Energy stabilization Demand response project Effects & evaluaon of large PV/ many PV Distribution network system of next generations Energy management of Realiza<on of electric and thermal control smart city Energy conservaon project (BEMS/HEMS) Demonstration Smart EV project of basic technology (EV charging) New Mexico smart grid project (Overseas project) & others Demonstration The four-location smart city operational experiments (Japanese project) & others of smart city Business model project Earthquake (DR, Aggregator) 5 Contents ! " Japanese Smart City Demonstraon ! " Toshiba’s success story - Miyako island smart grid system - Yokohama smart city project ! " Concept of Toshiba’s smart city ! " Urban disaster recovery area in Japan 6 Miyako island smart grid system 7 Major smart city project in Japan 4 areas were selected as the smart city of first pilot
    [Show full text]
  • Trends in International Nuclear Markets and Impending Issues for Japan
    Trends in International Nuclear Markets and Impending Issues for Japan Nuclear Renaissance and the U.S.-Japan Alliance: Finding New Markets and Preventing Proliferation The Brookings Institution, Center for Northeast Asian Policy Studies Hokkaido University, Slavic Research Center October 30, 2009 The Brookings Institution Tatsujiro Suzuki Visiting Professor, Univ. of Tokyo Associate Vice President Central Research Institute of Electric Power Industry(CRIEPI) [email protected] Current Status of Global Nuclear Energy • At the April of 2009, 436 nuclear power plants in operation in with a total net installed capacity of 370.2 GW(e) . •~80% of its capacity is in OECD countries • 5 units(3.9GW) in long term shutdown (2006) • 45 units(40 GW) under construction, 25 of which is in Asia(2008) • Supply ~16% of global electricity generation Source: International Atomic Energy Agency.(2009) and Mycle Schneider, Steve Thomas, Antony Froggatt and Doug Koplow, “The World Nuclear Industry Status Report 2009," August 2009. Source: Mycle Schneider et.al “The World Nuclear Industry Status Report 2009,” August 2009. http://www.bmu.de/files/english/pdf/application/pdf/welt_statusbericht_atomindustrie_0908_en_bf.pdf OECD/IEA’s nuclear power growth estimate up to 2030: 416GW~519GW Source: International Panel on Fissile Materials (IPFM), “Global Fissile Material Report 2007”, p.84. (original data from International Energy Agency, “World Energy Outlook 2006,” p. 362) Global Nuclear Capacity Projection Need for Replacement Orders Source: Mycle Schneider et.al “The World Nuclear Industry Status Report 2009,” August 2009. http://www.bmu.de/files/english/pdf/application/pdf/welt_statusbericht_atomindustrie_0908_en_bf.pdf Global Nuclear Power Scenario to meet Climate Change Challenge (MIT, 2003) Source:MIT Interdisciplinary Study, “The Future of Nuclear Power,” 2003.
    [Show full text]
  • The Marketing Strategy of Dai-Ichi Life
    The Marketing Strategy of Dai-ichi Life Katsutoshi Saito, Deputy Chairman 0 COPYRIGHT© 2010 THE DAI-ICHI LIFE INSURANCE COMPANY LTD. ALL RIGHTS RESERVED. Introduction of Dai-ichi Life 1 COPYRIGHT© 2010 THE DAI-ICHI LIFE INSURANCE COMPANY LTD. ALL RIGHTS RESERVED. Foundation of Dai-ichi Life Founded in 1902 as the first mutual life insurer in Japan 2 COPYRIGHT© 2010 THE DAI-ICHI LIFE INSURANCE COMPANY LTD. ALL RIGHTS RESERVED. Dai-ichi’s Corporate Philosophy “Customer First” Tsuneta Yano, founder 3 COPYRIGHT© 2010 THE DAI-ICHI LIFE INSURANCE COMPANY LTD. ALL RIGHTS RESERVED. History 1902 Started operations as Japan’s first mutual insurance company 1932 Established market position with the second largest amount of policies in force in Japan 1945 Hibiya head office was taken over by Allied Forces as their GHQ 1998 Reached an agreement on full partnership with Industrial Bank of Japan (Currently Mizuho FG) 2000 Comprehensive business alliance with Yasuda Fire and Marine Insurance (Currently Sompo Japan) Strategic marketing alliance with AFLAC 2006 Established Dai-ichi Frontier Life Insurance Co., Ltd. (started operations in 2007) 2007 Established Dai-ichi Life Insurance Company of Vietnam, Ltd. Business alliance with Resona Holdings 2008 Announced planned demutualization and IPO in 1H FY2010 2010 Demutualization and IPO implemented 4 COPYRIGHT© 2010 THE DAI-ICHI LIFE INSURANCE COMPANY LTD. ALL RIGHTS RESERVED. Corporate Structure The Dai-ichi Life Insurance Company, Ltd. Dai-ichi Frontier Life Insurance Co., Ltd. (90%) (1) Development of individual annuity products sold at banks Total assets: ¥1,423 billion 50% International Affiliates Vietnam (2007/1-) : Dai-ichi Life Insurance Company of Vietnam, Life Limited (100%) insurance India (2007/12-): JV with local state-owned banks (26%) Thailand (2008/7-): Capital and business alliance with Ocean Life Insurance Company Ltd.
    [Show full text]
  • Revolutionize the Way We Work and Build a Set of Secure Base Infrastructures Designed to Leverage the Cloud
    Case study Cisco public Revolutionize the Way We Work and Build a Set of Secure Base Infrastructures Designed to Leverage the Cloud Customer Name: Tokio Marine and Nichido Fire Insurance Co., Ltd. Industry: Insurance Location: Tokyo Number of employees: 17,4 8 3 © 2019 Cisco and/or its affiliates. All rights reserved. Case study Cisco public Tokio Marine and Nichido Fire Insurance Co., Ltd. (Tokio Marine and Nichido) is not only Japan’s first Business challenges insurance company, it’s also its largest domestic corporation, with an expansive history spanning more • How to support a wide range of working styles than 140 years. Tokio Marine and Nichido is working to expand telecommuting work arrangements to all its resulting from the spread of telecommuting employees, and is actively involved in efforts to revolutionize working styles. In October 2018, the company • How to respond to fat applications, cloud implemented a secure base infrastructure leveraging Cisco® wireless LAN and SD-WAN solutions. It built a usage, and other forms of digitalization new network foundation capable of supporting the increasing pace of digitalization and work style reforms. • How to enhance security measures to protect Tokio Marine and Nichido offers a variety of casualty insurance products, including fire, marine, accident, the assets of a financial institution automobile insurance, and more. Its mid-term business plan, which kicked off in FY2018, is based on the concept: “To Be a Good Company ~ Aiming for No. 1 Quality and to Exceed Customer Expectations.” To Network solutions achieve that aim, the company endeavors provide its clientele with a sense of security, to be selected by customers, and to enjoy consistent growth.
    [Show full text]