MIRA INFORM REPORT

 

 

Report Date :

10th June 2006

 

IDENTIFICATION DETAILS

 

Name :

HUGLE ELECTRONICS INC

 

 

Registered Office :

Hugle Bldg, 4-5-7 Iidabashi Chiyodaku Tokyo 102-0072 Japan

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

Aug 1971

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturers of semiconductor mfg devices

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

YEN 98.1 MILLION

 

 

Status :

Fair

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

Name

 

HUGLE ELECTRONICS INC

 

 

REGD NAME

           

Hugle Electronics KK

 

 

MAIN OFFICE

 

Hugle Bldg, 4-5-7 Iidabashi Chiyodaku Tokyo 102-0072 JAPAN

Tel: 03-3263-6661    

Fax: 03-3263-6668

URL: http://www.hugle.co.jp/

E-Mail address: info@hugle.co.jp

 

 

ACTIVITIES       

 

Mfg of semiconductor mfg devices

 

 

BRANCHES        

 

Osaka, Kumamoto

 

 

OVERSEAS         

 

Philippines; Korea (affiliate: Korea Hugle Electronics Inc)

 

 

FACTORY(IES)         

 

At the caption address, Itabashi, Hatogaya (Saitama) (--clean rooms equipped)

 

 

OFFICER(S)       

 

SHINZO YAMAGUCHI, PRES & CEO

 

 

Yen Amount

 

In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 5,099 M

PAYMENTS      REGULAR                     CAPITAL           Yen 10 M

TREND             STEADY                       WORTH            Yen 1,145 M

STARTED         1971                             EMPLOYES      100

 

 

COMMENT           

 

MFR SPECIALIZING IN SEMICONDUCTOR MFG DEVICES.  FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

MAX CREDIT LIMIT: YEN 98.1 MILLION, NORMAL 30 DAYS TERMS.

 

 

HIGHLIGHTS

 

The subject company was established by America Hugle Industries, USA, as its Far East Branch Office, and was incorporated in 1971.  Specializes in mfg semiconductor & flat panel mfg devices & equipment, such as static electricity-related, dust-proofing-related, cleaning-related, dust-proofing-related products, and inspection-related devices.  Factories are equipped with clean rooms.  The subject takes a made-to-order production system according to applications and users’ request.  Has affiliate in Korea, Korea Hugle Electronics Inc, Seoul, Korea, a core of sales and production overseas, with its agency network extending over S/E Asian countries.  Clients are major electronics mfrs nationwide.

The sales volume for Mar/2005 fiscal term amounted to Yen 5,099 million, a 19% up from Yen 4,286 million in the previous term.  This is attributed to brisk demand from the booming semiconductor industries on the back to wider applications of the products.  Exports expanded.  The net profit was posted at Yen 372 million, a 14% increase from Yen 325 million the previous year.

 

For the term ended Mar 2006 the net profit is believed posted at Yen 395 million, on a 10% rise in turnover, to Yen 5,600 million.  Demand remained steady.  Weaker Yen should have contributed to the sales hike in Yen terms.  Final results have not been made available as yet.

 

The financial situation is considered FAIR to GOOD and responsible for ORDINARY business engagements.  Max credit limit is estimated at Yen 98.1 million, on normal 30 days terms.

 

 

REGISTRATION

 

Date Registered:            Aug 1971

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                    80,000 shares

Issued:                          20,000 shares

Sum:                            Yen 10 million

Major shareholders (%): Kazusaburo Fujimiya (55), Shinzo Yamaguchi (20)

No. of shareholders: 4

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Manufactures semiconductor & flat panel mfg equipment & materials (--100%):

Static electricity-related devices: electrostatic mapping system, in-line type electrostatics mapping system, low-voltage wired room ionizer system, DC type double injection ionizer, AC type air flow ionizer, ion blower DC mini, AC type ion blower, clean jet gun, ionizing air gun, ionizing air gun, large flow type ionizing air gun, ionizer cleaner, digital electrostatics measuring instrument, ionizer checker, static monitor, charge plate monitor; other:

 

Cleaning-related devices: case cleaning device, de-ionized water system, wafer transfer equipment, exhaust gas purification device;

 

Dust-proofing-related devices: ultrasonic flat panel cleaner, ultrasonic web cleaner, other;

Inspection-related devices.

 

Mfg is basically made-to-order production system upon acceptance of order to best serve individual applications and users’ request.  Orders are received even by the unit of millimeter.

 

Clients: [Electronics mfrs] Toshiba Corp, NEC, Hitachi Ltd, Sony Corp, Matsushita Electric Ind, Sharp Corp, other.  Goods are also exported.

No. of accounts: 1,000

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Shinritsu Denki, Daiichi Kagaku Inc, Semiconductor Service,  other.

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

 

 

Bank References

 

Mizuho Bank (Kudan)

Bank of Tokyo-Mitsubishi UFJ (Jinbocho)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

Terms Ending:

　

31/03/2006

31/03/2005

31/03/2004

Annual Sales

　

5,600

5,099

4,286

Recur. Profit

(*)

..

554

433

Net Profit

　

395

372

325

Total Assets

　

　

N/A

N/A

Net Worth

　

　

1,145

773

Capital, Paid-Up

　

　

10

10

Div.P.Share(¥)

　

　

　

　

<Analytical Data>

(%)

(%)

(%)

       S.Growth Rate

9.83

18.97

33.35

       Current Ratio

 

 

..

..

       N.Worth Ratio

 

..

..

       N.Profit/Sales

7.05

7.30

7.58

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2006 fiscal term.

(*) Data disclosed by the Taxation Office as the pretax profits.

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

 

 

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