MIRA
INFORM REPORT
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Report Date : |
25th
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
EMPLAS SEMICONDUCTOR PERIPHERAL CORPORATION |
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Registered Office : |
Kojima MN Bldg 1/2F, 2-15-1 Dotecho Ohmiyaku
Saitama 330-0801 Japan |
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Country : |
Japan |
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Financials (as on) : |
31/03/2005 |
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Date of Incorporation : |
Apr 2002 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturers of semiconductor &
peripherals |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 145.3 MILLION |
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Status : |
Moderate
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
NAME
EMPLAS
SEMICONDUCTOR PERIPHERAL CORPORATION
*.. The
given name is one of its products (see HIGHLIGHT)
REGD NAME
KK
Enplas Handotai Kiki (Handotai means semiconductors, and Kiki means apparatus)
MAIN OFFICE
Kojima
MN Bldg 1/2F, 2-15-1 Dotecho Ohmiyaku Saitama 330-0801 JAPAN
Tel:
048-643-7676
Fax:
048-643-7671
E-Mail address: sp-sales@enplas.co.jp
ACTIVITIES
Mfg of semiconductor & peripherals
BRANCHES
Osaka, Fukuoka
OVERSEAS
Shanghai, Taiwan, Philippines, Singapore, Korea, USA (4), UK,
France, Germany, Italy (--subsidiaries)
(Tot 13)
FACTORY(IES)
At the caption address
OFFICER(S)
TAKEO SHIMANE, PRES Koichi
Sakashita, dir
Ryoji Maruyama, dir Makoto
Yokota, dir
Toshiaki Sugimoto, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
4,507 M
PAYMENTS REGULAR CAPITAL Yen
310 M
TREND STEADY WORTH Yen
1,801 M*
STARTED 2002 EMPLOYES 61
*..
Only calculated from the previous term’s net worth, and not officially
released from the subject firm.
COMMENT
MFR SPECIALIZING IN SEMICONDUCTOR PERIPHERALS, WHOLLY OWNED BY
ENPLAS CORPORATION. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 145.3 MILLION, NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company was established on the basis of the
semiconductor peripherals mfg division separated from Enplas Corporation, top
processor of precision plastics, Saitama (see REGISTRATION). The parent at the same time separated
Display Device Division as an independent entity. The arrangements are part of restructuring and streamlining
operations. The given name is one of
its products (the China subsidiary is titled as Enplas HY-card Electronic
(Shanghai) Co Ltd). The subject
specializes in mfg semiconductor peripherals (see details in OPERATION). The firm has 13 overseas
subsidiaries/offices to cover overseas markets. 80-90% of the goods are shipped to NEC Corp, nation’s
representative high-tech powerhouse, Tokyo, on contracts. The semiconductor operations account for
about 14% of total group sales. The
goods are both imported and exported.
The sales volume for Mar/2005 fiscal term amounted to Yen 4,507
million, an 18% up from Yen 3,804 million in the previous term. This is attributed to robust demand for
semiconductor and peripherals both at home and abroad, particularly in China
and other S/E Asian countries. The
operations came back to profitability to register Yen 338 million net profit
for the term.
For the term ended Mar/2006 the net profit is believed posted at
Yen 360 million, on an 8% rise in turnover, to Yen 4,850 million. The subject firm does not release the
results for the term, and we have calculated the figures from the results
released from the parent, Enplas Corporation.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is estimated at Yen 145.3 million, on
normal 30 days terms. On the back of
the financial strength of the parent, the subject is considered FAIR in
financial status and responsible for credit engagements up to the estimated
amount.
REGISTRATION
Date Registered: Apr
2002
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 24,800 shares
Issued: 6,400 shares
Sum: Yen 310 million
Major shareholders (%): Enplas Corporation*(100)
*.. Top processor of precision plastics, Saitama, founded 1962,
listed Tokyo S/E, capital Yen 8,080 million, turnover Yen 40,189 million,
recurring profit Yen 3,832 million, net profit Yen 1,506 million, total assets
Yen 52,319 million, net worth Yen 46,154 million, employees 1,483, pres
Toshiaki Sugimoto (--all figures as at 31/03/2006)
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Manufactures semiconductor peripherals (100%): IC test
sockets, E-SV Probe cards, other. Goods
are also exported.
Clients: [Electronics mfrs] Almost exclusively shipped to NEC
Corp, other
No. of accounts: Selected few
Domestic areas of activities: Nationwide
Payment record: Regular
Location: Business area in Ohmiya, Saitama-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
Mizuho Bank (Kawaguchi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2005 |
31/03/2004 |
31/03/2003 |
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Annual Sales |
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4,507 |
3,804 |
4,400 |
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Recur. Profit |
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Net Profit |
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338 |
-13 |
173 |
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Total Assets |
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2,647 |
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Current Assets |
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2,137 |
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Current Liabs |
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1,163 |
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Net Worth |
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1,463 |
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Capital, Paid-Up |
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310 |
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Div.P.Share(¥) |
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0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
18.48 |
-13.55 |
0.00 |
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Current Ratio |
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183.75 |
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N.Worth Ratio |
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55.27 |
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R.Profit/Sales |
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N.Profit/Sales |
7.50 |
-0.34 |
3.93 |
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Return On Equity |
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-0.89 |
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Notes: Financials are consolidated by the parent, Enplas Corp and
only the above data have been released.
RATING EXPLANATIONS
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RATING |
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 |