MIRA
INFORM REPORT
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Report Date : |
06.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
ACI JAPAN INC |
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Registered Office : |
Yokohama Business Park East Tower 13F, 134 Godocho
Hodogayaku Yokohama 240-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
Jan 2000 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of network
equipment, memory modules, other |
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. |
Small |
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Maximum Credit Limit : |
Yen 12.3 millions |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
ACI JAPAN INC
REGD NAME
ACI Japan KK
MAIN OFFICE
Yokohama Business Park East Tower 13F, 134 Godocho Hodogayaku
Yokohama 240-0005 JAPAN
Tel : 045-348-3651
Fax : 045-348-3650
URL : http://www.aci-j.com
E-Mail address: info@aci-j.com
ACTIVITIES
Import, wholesale of network equipment, memory modules,
other
BRANCHES
Nil
OFFICERS
TOMOAKI ARAI, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 700 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 91 M
STARTED 2000 EMPLOYES 6
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN NETWORK EQUIPMENT &
COMPONENTS, WHOLLY OWNED BY ACI COMMUNICATIONS INC (USA). FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$100,000 / O/A 90 DAYS.
MAX CREDIT LIMIT: YEN 12.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by ACI Communications Inc, USA, as its marketing base in Japan. Specializes in import and wholesale of network equipment, parts & components. Clients are domestic telecommunications system & equipment dealers, telecom firms, other, nationwide. Goods are imported centrally from US partners (See OPERATION).
(Historical
Business Development):
In
2000, started imports of network monitoring systems from Cheatah
Technologies (now Actema), and optical laser parts from Lucent Technologies
(now Emcore).
In
2001, imported network monitoring systems from AM
Communications, and optical transmitting parts & components from Dong Yang
Telecom.
In 2002,
imported MPEG4 Digital Video Recorders from Stradient. The same year developed HFC/FTTH systems
jointly with Twoway CATV.
In
2003, started import of optical transmission systems for
HFC/FTTH from BKtel, and EDFA amplifiers for FTTH from Highwave. .
FINANCIAL INFORMATION
The financials are only partially disclosed.
The sales volume for Dec/2006 fiscal term amounted to Yen 700
million, a 1% down from Yen 707 million in the previous term. The net profit was posted at Yen 21 million,
up from Yen 22 million a year ago.
For the current term ending Dec 2007 the net profit is
projected at Yen 22 million, on a 1% rise in turnover, to Yen 710 million.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 12.3 million, on 30 days normal terms. The proposed amount for 90 days terms is
considered within the firm’s financial capabilities.
REGISTRATION
Date Registered: Jan
2000
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 200
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%): ACI
Communications Inc (USA) (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales networking equipment
& systems (--100%).
(Main
items & suppliers)
ONU for FTTX, optical node amplifiers from ACI
Communications Inc.
Network monitoring systems from AM Communications Inc.
Optical transmission equipment for FTTX, optical amplifiers for
EDFA from BKtel Communications Inc.
Optical transmission equipment for HFC from Dongyang Telecom
Corp.
Optical networking devices from EMCORE Corp.
EDFA modules for FTTX from Highwave Optical Technologies.
MOBOTIX network camera systems from MOBOTIX Japan Inc.
Network monitoring systems from OSS Broad-Net Co Ltd.
ONU for FTTX, optical node amplifiers for HFC from Twoway
CATV Service Inc.
MPEG4 digital monitoring system from Stradient.
MD optical switches, DWDM, CWDM from Primanex, other.
Clients: [Mfrs, wholesalers] Canon Marketing Japan, Itochu Cable Systems, Sumitomo & Osaka Cement, Jupiter Telecom, Miharu Communications, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] ACI Communications Inc, AM
Communications, BKtel Communications, Dongyang Telecom, EMCORE Corp, Highwave
Optical Technologies, MOBOTIX Japan Inc, OSA Broad-Net Co, Twoway CATV Service
Inc, other.
Payment record: Regular
Location: Business area in Yokohama. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Mizuho Bank (Yokohama-Ekimae)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual Sales |
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710 |
700 |
707 |
689 |
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Recur. Profit |
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Net Profit |
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22 |
21 |
22 |
21 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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91 |
70 |
48 |
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Capital, Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.43 |
-0.99 |
2.61 |
-19.04 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
3.10 |
3.00 |
3.11 |
3.05 |
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Financials are only partially disclosed.
Forecast (or estimated) for the 31/12/2007 fiscal term.
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. |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)