MIRA INFORM REPORT
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Report Date : |
23rd May 2006 |
IDENTIFICATION DETAILS
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Name : |
ADY CO LTD |
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Registered Office : |
Tsujimoto Bldg, 1-12-15
Higashimikuni Yodogawaku Osaka 532-0002 Japan |
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Date of Incorporation : |
Jul 1986 |
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Legal Form : |
Limited
Company |
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Line of Business : |
Importers,
exporters and wholesalers of electronic parts & components |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
YEN 69.6 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
ADY CO LTD
REGD NAME
A. D. Y. KK
MAIN OFFICE
Tsujimoto Bldg, 1-12-15 Higashimikuni Yodogawaku Osaka
532-0002
JAPAN
Tel: 06-6397-0412
Fax: 06-6397-0414
E-Mail address:
customer@advantek.com.sg
ACTIVITIES
Import, export, wholesale of electronic
parts & components
BRANCHES
Nil
OVERSEAS
Sonic Singapore, Freising HK, Freising
Shenzhen Office, FU Sheng Factory (--
affiliates)
FACTORY(IES)
Singapore, China (--subcontracted)
OFFICER(S)
TAKAFUMI FUJITA, PRES Sachiyo Fujita, rep dir
Soo Yee Wah, dir Timothy
Cowen, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
1,569 M
PAYMENTS REGULAR CAPITAL Yen 12 M
TREND STEADY WORTH Yen 516 M
STARTED 1986 EMPLOYES 12
COMMENT
TRADING HOUSE SPECIALIZING IN
ELECTRONICS PARTS & COMPONENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 69.6 MILLION,
NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company was
established by Takafumi Fujita in order to make most of his experience in the
subject business, as Advantek DY Co Ltd.
Started to import electronics parts & components and the firm has
since grown into a specialized trading house handling electronics components in
tie-ups with Advantek Inc, USA and Dou Yee, Singapore. In 1987 started importing embossed carrier
tapes. The same year Dou Yee Singapore
started production of ESD and clean room materials, and imports started. In 1995, started marketing of plastic cartridges. In 1996, started importing Dummy Boards and
other products from Top Line, USA. In
2002, founded Sonic Singapore, which obtained ISO9001 Certification in 2004. .
Renamed as captioned in Apr 2006. Goods
are both imported and exported. Clients
are major electronics & semiconductors mfrs, nationwide.
The sales volume for Mar/2005
fiscal term amounted to Yen 1,569 million, a 31% down from Yen 2,261 million in
the previous term. This is referred to,
as reported, the transfer of part of operations to affiliates. The recurring profit was posted at Yen 79
million and the net profit at Yen 40 million, respectively, compared with Yen
70 million recurring profit and Yen 35 million net profit, respectively, a year
ago.
For the term ended Mar 2006 the
recurring profit is believed posted at Yen 85 million and the net profit at Yen
45 million, respectively, on an 8% rise in turnover, to Yen 1,700 million. Final results are not available as yet.
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 69.6
million, on normal 30 days terms.
REGISTRATION
Date Registered: Jul 1986
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 240
shares
Sum: Yen 12 million
Major shareholders (%): Takafumi
Fujita (33.3), Timothy Cowen (33.3), Soo Yee Wah (33.3) (--three partners equally sharing).
No. of shareholders: 3
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Imports, exports and
wholesales electronics parts & components (--100%): Dummy Boards, plastic
injection molds, ESD & clean room materials (gloves, caps, other antistatic
products), embossed carrier tapes, plastic cartridges, packaging materials for
electronics components, other related products. Goods are imported from USA, Singapore, China, etc.
Clients: [Electronics mfrs,
wholesalers] Kanto Sanyo Semiconductors, Asahi Kasei Electronics, Musashi
Engineering, Sanyo Kasei Co, Kusumoto Chemicals, Huntsman Advanced Materials,
Darwi Enterprises, Sonic (Singapore), Shinyo Chemical, Denki Kagaku Kogyo,
other.
No. of accounts: 800
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers]
PPG Japan, Asahi Kasei Corp, Huntsman Advanced Materials, Mix Pack, Plus Pack,
Denki Kagaku Kogyo, Able Kogyo, Nihon Matai, Lintec Corp, other. Imports from Top Line (USA), Sonic
Singapore, other from Singapore, China, etc.
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
Bank of Tokyo-Mitsubishi UFJ
(Osaka-Ekimae)
SMBC (Esaka)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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1,700 |
1,569 |
2,261 |
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Recur.
Profit |
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85 |
79 |
70 |
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Net
Profit |
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45 |
40 |
35 |
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Total
Assets |
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768 |
744 |
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Current
Assets |
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733 |
707 |
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Current
Liabs |
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226 |
243 |
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Net
Worth |
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516 |
482 |
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Capital,
Paid-Up |
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12 |
12 |
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
8.35 |
-30.61
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30.84 |
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Current Ratio |
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.. |
324.34
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290.95
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N.Worth Ratio |
.. |
67.19 |
64.78 |
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R.Profit/Sales |
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5.00 |
5.04 |
3.10 |
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N.Profit/Sales |
2.65 |
2.55 |
1.55 |
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Return On Equity |
.. |
7.75 |
7.26 |
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Notes: Forecast (or estimated) figures
for the 31/03/2006 fiscal term.
RATING EXPLANATIONS
RATING
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STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |