MIRA
INFORM REPORT
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Report Date : |
20.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ISAHAYA ELECTRONICS CORPORATION |
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Registered Office : |
6-41 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Mar 1973 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturing of
semiconductors |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 160.5 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
ISAHAYA
ELECTRONICS CORPORATION
REGD NAME
Isahaya Denshi KK
(Denshi means electronics)
MAIN OFFICE
6-41 Tsukubamachi
Isahaya City Nagasaki-Pref 854-0065
Tel : 0957-26-3592
Fax : 0957-26-5257
URL : http://www.idc-com.co.jp
E-Mail
address: Tokyo@idc-com.co.jp
ACTIVITIES
Mfg of
semiconductors
BRANCHES
OVERSEAS
FACTORY(IES)
At the
caption address; Laguna (
OFFICERS
HARUO
IZAKI, PRES Yoshio
Miyake, v pres
Makoto
Onodera, mgn dir Hideyuki
Irie, dir
Hiroshi
Nakajima, dir Masahiro
Ohba, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 10,198 M
PAYMENTS REGULAR CAPITAL Yen 485 M
TREND STEADY WORTH Yen
1,524 M
STARTED 1973 EMPLOYES 263
COMMENT
MFR OF SEMICONDUCTORS & PERIPHERALS. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 160.5 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Haruo Iyori in order to
make most of his experience in the
subject line of business. Started
producing SS-transistors and in 1979 commenced IC chip visual inspection and
production of hybrid IC. In Oct 1986,
transferred from Mitsubishi Electric Corp of IC hybrid production. In
Apr 1991 merged IDC Co Ltd and renamed as captioned. In Jul 1995, con signed production of hybrid IC to
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2006 fiscal term amounted to Yen 10,198 million, a 36% sharp drop from Yen 16,013 million in the previous term. This is referred to the transfer of some operations to subsidiaries. The recurring profit was posted at Yen 134 million and the net profit at Yen 96 million, respectively, compared with Yen 530 million recurring profit and Yen 138 million net profit, respectively, a year ago.
For the term ended Mar 2007 the net profit was projected at Yen 100 million, on an 8% rise in turnover, to Yen 11,000 million. Final results are yet to be disclosed.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 160.5 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Mar 1973
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 132,000 shares
Issued: 33,000 shares
Sum: Yen 485 million
Major shareholders (%): Haruo
Iyori (35.6), Mitsubishi Electric Corp*(26.7)
No. of shareholders: 51
*.. Third ranked comprehensive electrical machinery mfr, Tokyo,
founded 1921, listed Tokyo, Osaka, Amsterdam, Frankfurt, London S/E’s, capital
Yen 175,820 million, turnover Yen 3,855,745 million, recurring profit Yen
184,776 million, net profit Yen 123,080 million, total assets Yen 3,452,231
million, net worth Yen 1,059,209 million, employees 102,835, pres Setsuhiro
Shimomura
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures small signal transistors (42%), power semiconductors (hybrid ICs) (51%), high frequency optical devices, others (7%).
(Exports:
33%).
Clients: [Electronics mfrs, wholesalers] Mitsubishi Electric Corp, Renesas Technology, Tachibana Eletech, Ryoden Shoji, Kyoei Trading, other.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Electric Corp,
Renesas Technology Sales, Phenitec Semiconductors, Umetoku Co, Tachibana
Eletech, other. Imports from
subsidiaries in
Payment
record: Regular
Location: Business area in
Bank References
Shinwa
Bank (
MUFG (
Relations:
Satisfactory.
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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11,000 |
10,198 |
16,013 |
12,565 |
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Recur.
Profit |
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.. |
134 |
530 |
318 |
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Net
Profit |
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100 |
96 |
138 |
66 |
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Total
Assets |
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N/A |
11,825 |
N/A |
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Net
Worth |
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1,524 |
1,467 |
1,383 |
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Capital,
Paid-Up |
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485 |
485 |
485 |
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Div.P.Share(¥) |
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170.00 |
500.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.86 |
-36.31 |
27.44 |
28.85 |
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Current Ratio |
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.. |
74.60 |
.. |
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N.Worth Ratio |
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.. |
12.41 |
.. |
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N.Profit/Sales |
0.91 |
0.94 |
0.86 |
0.53 |
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Note: Financials
are only partially disclosed.
Forecast
(or estimated) for the 31/03/2007 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/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 |
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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%)