MIRA INFORM REPORT
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Report Date : |
09.04.2011 |
IDENTIFICATION DETAILS
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Name : |
IDEA SYSTEM CO LTD |
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Registered Office : |
4-1-21
Shinmeicho Okaya Nagano-Pref 394-0004 |
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Country : |
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Financials (as on) : |
30.09.2010 |
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Date of Incorporation : |
March
1987 |
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Legal Form : |
Limited
Company |
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Line of Business : |
Manufacturer of
IC package, IC card, hybrid IC |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 3.0 Million |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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Litigation : |
----- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CompANY
NAME
IDEA SYSTEM CO LTD
REGD
NAME
Idea System KK
MAIN
OFFICE
4-1-21 Shinmeicho
Okaya
Tel:
0266-24-2744 Fax: 0266-24-2773
URL: http://www.idea-gr.co.jp/
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of IC package,
IC card, hybrid IC
BRANCHES
FACTORY
At the caption
address
OFFICER(S)
NOBUO
SAWA, PRES
Mutsumi
Kobayashi, ch
Hiroshi
Kobayashi, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 939 M
PAYMENTS REGULAR CAPITAL Yen 60 M
TREND SLOW WORTH Yen 35 M
STARTED 1987 EMPLOYES 59
COMMENT
MFR OF IC PACKAGE, IC CARD, AND THE RELATED
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGEMENTS:
US$50,000 / O/A 60 DAYS.
MAX
CREDIT LIMIT: YEN 3.0 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Mutsumi Kobayashi in order o make
most o his experience in the subject line of business. This is a specialized mfr of image monitoring
system, system in package, OEM/EMS of electronic equipment, IC packages, IC
card, hybrid IC, other. Goods are also
imported and exported. Clients include
major electronics mfrs, Tokyo Metropolitan Police, other.
FINANCIAL
INFORMATION
The sales volume for Sept/2010 fiscal term amounted to Yen 939 million,
an 8% up from Yen 866 million in the previous term. Demand revived both at home and abroad. The operations came back to profitability to
post Yen 16 million recurring profit and Yen 8 million net profit,
respectively, compared with Yen 18 million recurring loss and Yen 53 million
net losses, respectively, a year ago.
For the current term ending Sept 2011 the recurring profit is projected
at Yen 15 million and the net profit at yen 7 million, respectively, on a 3%
rise in turnover, to Yen 970 million. .
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Max credit limit is estimated at
Yen 3.0 million, on 30 days normal terms.
The proposed amount for 60 days terms is considered within the firm’s
financial capacities.
REGISTRATION
Date Registered: Mar 1987
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
4,800 shares
Issued: 1,200 shares
Sum: Yen 60 million
Major shareholders (%): Mutsumi Kobayashi (53.3),
Nagase Corp (16.7), Employees’ S/Holding Assn (10.0), Hiroshi Kobayashi (5.8)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures,
including OEM production, image monitoring systems (40%), system in package
(30%), electron controlling equipment (30%).
(Handling items): IC package, IC
card, hybrid IC, other.
Clients: [Electronic mfrs,
wholesalers, government agencies] Tokyo-Metro Police Dept, Mitsubishi Heavy
Ind, Toshiba Corp group, Seiko-Epson, Shin Denshi Kogyo, Kura Corporation,
ALSOK-Chiba Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] G-Net, Kyoden Co, Nagoya Electric Works,
Daiwabo Information System, ALGO System, Wintec Co, Marudai Denshi Kogyo, other
Payment record: Regular
Location: Business area in
Bank References:
· Hachijuni Bank (Okaya-Higashi)
· Suwa Shinkin Bank (Imai)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
30/09/2011 |
30/09/2010 |
30/09/2009 |
30/09/2008 |
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Annual
Sales |
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970 |
939 |
866 |
1,094 |
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Recur.
Profit |
|
15 |
16 |
-18 |
21 |
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Net
Profit |
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7 |
8 |
-53 |
1 |
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Total
Assets |
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661 |
495 |
586 |
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Current
Assets |
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|
498 |
344 |
441 |
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Current
Liabs |
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422 |
245 |
317 |
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Net
Worth |
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35 |
26 |
79 |
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Capital,
Paid-Up |
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60 |
60 |
60 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
1,500.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.30 |
8.43 |
-20.84 |
27.80 |
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Current Ratio |
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.. |
118.01 |
140.41 |
139.12 |
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N.Worth Ratio |
.. |
5.30 |
5.25 |
13.48 |
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R.Profit/Sales |
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1.55 |
1.70 |
-2.08 |
1.92 |
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N.Profit/Sales |
0.72 |
0.85 |
-6.12 |
0.09 |
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Return On Equity |
.. |
22.85 |
.. |
1.27 |
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Notes:
Forecast (or estimated) figures for the 30/09/2011 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.44.04 |
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|
1 |
Rs.72.20 |
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Euro |
1 |
Rs.63.40 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.