MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
OPTO SYSTEM CO LTD |
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Registered Office : |
100 Miyamaki-Nogami Kyotanabe City Kyoto-Pref 610-0313 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2007 |
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Date of Incorporation : |
November 1980 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Inspection Equipment for Semiconductors
and LC Panels |
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 32.7 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
OPTO SYSTEM CO LTD
REGD NAME: KK Opto System
MAIN OFFICE: 100 Miyamaki-Nogami Kyotanabe City Kyoto-Pref
610-0313 JAPAN
Tel:
0774-68-4440 Fax: 0774-68-4444
URL: http://www.opto-system.co.jp
E-Mail address: (thru
the URL)
ACTIVITIES
Mfg of inspection equipment for semiconductors & LC
panels
BRANCHES
Tokyo, Yamagata, Kita-Kyoto, Niigata
OVERSEAS
Taiwan, Korea, China (Beijing), USA (2), Europe
(distributor)
FACTORY
Kyoto (adjacent to the caption address)
OFFICER(S)
FUMIO OTAKE, PRES & CEO
Masanori Otake, mgn dir
Ken’ichi Ikeda, dir
Kenji Takeda, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,314 M
PAYMENTS REGULAR CAPITAL Yen 83 M
TREND STEADY WORTH Yen 1,059 M
STARTED 1980 EMPLOYES 141
COMMENT
MFR OF INSPECTION APPARATUS FOR SEMICONDUCTORS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS BUT DOUBTFUL FOR:
CD$421,000.00, USING EXCHANGE RATE OF: CD$1=YEN 92.
MAX
CREDIT LIMIT: YEN 32.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject company was established by Fumio Otake in order to make most of his
experience in the subject line of business.
Specializes in mfg inspection & mfg machines used for production
& development of optical semiconductor related products (See OPERATION). Goods are exported to worldwide destinations. Domestic clients include specialty mfrs,
general trading houses, others, nationwide.
Has 6 overseas sales agents.
FINANCIAL INFORMATION
The
sales volume for Oct/2007 fiscal term amounted to Yen 3,314 million, an 8% up
from Yen 3,062 million in the previous term.
Exports rose. Price hikes in
materials also pushed the sales upward.
The recurring profit was posted at Yen 183 million and the net profit at
Yen 108 million, respectively, compared with Yen 40 million recurring profit
and Yen 15 million net profit, respectively, a year ago. The previous term recovered from the net
losses of Yen 666 million a year ago.
For
the current term ending Oct 2008 the recurring profit is projected at Yen 190
million and the net profit at Yen 110 million, respectively, on a 6% rise in
turnover, to Yen 3,500 million. Exports
are seen rising steadily.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. The proposed amount,
however, is slightly in excess of the firm’s credit limit. Max credit limit is estimated at Yen 32.7
million, on 30 days normal terms. We
used the exchange rate of: CD$1=Yen 92.0.
REGISTRATION
Date Registered: Nov 1980
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 6,400 shares
Issued: 1,600 shares
Sum: Yen 83 million
Major shareholders (%)
Masanori Otake (50), Fumio Otake (15)
No. of shareholders: 34
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures inspection & mfg
machines used for production & development of optical semiconductor related
products: groove processing machines, groove probing machines, laser scribers,
diamond scribers, LD cleaver, bar stacker, breaker, prober, sorter, probing
sorter, visual inspection machines, package inspection machines, LED lamp
handler, LED lamp aging system, lamp aging testers, wafer slicer, other
(--100%).
Clients
[Mfrs, wholesalers] Mitsui & Co, Matsushita Electric Ind,
Seoul Opto Systems, Toyota Gosei, Fuji Xerox, Toshiba Corp, Tottori Sanyo
Electric, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Matsushita
Electric Ind, Panasonic Semiconductor Opto Device, Asahi Diamond Ind, other.
Payment
record: Regular
Location:
Business area in Kyotanabe City, Kyoto-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
SMBC (Nerima)
Shiga Bank (Kyoto-Minami)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/10/2008 |
31/10/2007 |
31/10/2006 |
31/10/2005 |
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Annual
Sales |
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3,500 |
3,314 |
3,062 |
1,557 |
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Recur.
Profit |
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190 |
183 |
40 |
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Net
Profit |
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110 |
108 |
15 |
-666 |
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Total
Assets |
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7,021 |
5,844 |
5,306 |
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Current
Assets |
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5,620 |
4,699 |
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Current
Liabs |
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1,994 |
1,132 |
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Net
Worth |
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1,059 |
952 |
925 |
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Capital,
Paid-Up |
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83 |
83 |
83 |
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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 |
5.61 |
8.23 |
96.66 |
-64.35 |
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Current Ratio |
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.. |
281.85 |
415.11 |
.. |
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N.Worth Ratio |
.. |
15.08 |
16.29 |
17.43 |
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R.Profit/Sales |
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5.43 |
5.52 |
1.31 |
.. |
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N.Profit/Sales |
3.14 |
3.26 |
0.49 |
-42.77 |
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Return On Equity |
.. |
10.20 |
1.58 |
-72.00 |
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Notes: Forecast (or estimated) figures for the 31/10/2008
fiscal term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.46 |
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UK Pound |
1 |
Rs.83.37 |
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Euro |
1 |
Rs.64.46 |
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%)