The average time to pay for HITACHI AUTOMOTIVE SYSTEMS UK LTD. has decreased over the past three periods, going from 34 days in Apr 2018 to 31 days in Sep 2018 and then further decreasing to 27 days in Mar 2019.
The company has shown a decrease in volatility when it comes to paying invoices, as seen by the decreasing percentage of invoices paid later than 60 days (13% in Apr 2018 to 4% in Mar 2019).
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Sept 2018 - 31 Mar 2019 | 19 Sept 2019 | 31 | 61% | 34% | 5% | 1% |
| 01 Apr 2018 - 30 Sept 2018 | 22 Nov 2018 | 34 | 54% | 33% | 13% | 13% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
45 days net month end
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
80
Not applicable, some capital payment may take longer until asset is working
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
HITACHI AUTOMOTIVE SYSTEMS UK LTD. is a subsidiary of the global corporation Hitachi Automotive Systems, Ltd. The company is headquartered in the UK and specializes in the production of automotive systems and components.
Their sustainability program focuses on reducing the environmental impact of their operations and products. This includes implementing eco-friendly manufacturing processes and developing energy-efficient products. The company also promotes recycling and waste reduction initiatives.
HITACHI AUTOMOTIVE SYSTEMS UK LTD. offers a wide range of products and services to the automotive industry. This includes powertrain systems, chassis systems, and other electronic components. They also provide engineering solutions and technical support to their clients.
The key people at HITACHI AUTOMOTIVE SYSTEMS UK LTD. include Mr. Yasuo Hiyama, the Managing Director, and Mr. Kenjiro Ito, the General Manager. Both have extensive experience in the automotive industry and play a crucial role in the company's success.
To contact HITACHI AUTOMOTIVE SYSTEMS UK LTD., their website address is https://www.hitachi-hi.co.uk/. The registered office address is Hitachi Automotive Systems UK Ltd., 5810 Oxford Business Park South, Oxford, OX4 2LA, United Kingdom.
In summary, HITACHI AUTOMOTIVE SYSTEMS UK LTD. is a leading automotive company with a strong focus on sustainability. They offer a wide range of products and services to the automotive industry and are led by experienced and dedicated individuals. Their commitment to reducing their environmental impact makes them a socially responsible organization.