MIRA INFORM REPORT
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Report Date : |
20.04.2011 |
IDENTIFICATION DETAILS
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Name : |
FXC INC |
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Registered Office : |
Komagata TC Bldg
9F, 1-3-14 Komagata Taitoku Tokyo 111-0043 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
January 2001 |
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Com. Reg. No.: |
(Tokyo-Taitoku)
029351 |
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Legal Form : |
Limited Company |
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Line of Business : |
Provider of network solutions: Ethernet switches, fiber
optic CWDM systems |
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 24.2 Million |
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Status : |
Moderate |
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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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Japan |
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
FXC INC
REGD
NAME
FXC KK
MAIN
OFFICE
Komagata TC Bldg
9F, 1-3-14 Komagata Taitoku Tokyo 111-0043 JAPAN
Tel:
03-5827-0760 Fax: 03-5827-0717
URL: http://www.fxc.jp/
E-Mail address: (thru
the URL)
ACTIVITIES
Provider
of network solutions: Ethernet switches, fiber optic CWDM systems
BRANCHES
Shanghai
(China), California
FACTORIES
(subcontracted)
OFFICER(S)
SHIGEYUKI
TANIWA, PRES
Ken’ichi Tabata, dir
Kazuhiro
Uchida, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 903 M
PAYMENTS REGULAR CAPITAL Yen 302 M
TREND SLOW WORTH Yen
407 M
STARTED 2001 EMPLOYES 44
COMMENT
PROVIDER OF NETWORK EQUIPMENT
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR BUSINSS ENGAGEMENTS
MAX CREDIT
LIMIT: YEN 24.2 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Shigeyuki Taniwa in order to make
most o his experience in the subject line of business. This is a trading firm, with mfg division,
for import, export and wholesale of network/multimedia equipment that includes
Layer 2 & Layer 3 Ethernet switches & fiber optic CWDM systems. Has offices in China & USA, covering
operations & clients in each market.
Clients include major electronics mfrs, network providers, other,
nationwide.
FINANCIAL
INFORMATION
The sales volume for Dec/2010 fiscal term amounted to Yen 903 million, a
9% up from Yen 827 million in the previous term. Demand increased both at home & abroad,
particularly in China. The recurring
profit was posted at Yen 14 million and the net profit at Yen 10 million,
respectively, compared with Yen 19 million recurring profit and Yen 8 million
net profit, respectively, a year ago.
For the current term ending Dec 2011 the recurring profit is projected
at Yen 15 million and the net profit at Yen 10 million, respectively, on a 3%
rise in turnover, to Yen 930 million.
High Yen may erode earnings & profits in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 24.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 2001
Regd No.: (Tokyo-Taitoku) 029351
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
24,000 shares
Issued: 6,055 shares
Sum: Yen 302.76 million
Major shareholders
(%): Shigeyuki Taniwa (30), Taiga-1 Investment (15), Technology Ventures
Investment (10), NVCC Investment (10), Satoru Kuwayama (5)
No. of shareholders: 36
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales network/multi media equipment: management switches, Ethernet
switches, media converters, CWDM devices, other (--100%).
Clients: [Electronic mfrs,
network firms] NTT Advance Technology, Net One Systems, Daiwabo Information
System, Sun Telephone, Mitsui Knowledge Ind, DNP Fine Electronics, Itochu
Techno Solutions, Fujitsu Business System, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Repotec Co, Accton Technology Corp, Browave Corp, UDM
International Co, Nitto Tsushinki, other.
Payment record: Regular
Location:
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References:
MUFG
(Nihombashi-Chuo)
Mizuho
Bank (Roppongi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
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Annual
Sales |
|
930 |
903 |
827 |
911 |
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Recur.
Profit |
|
15 |
14 |
29 |
-22 |
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Net
Profit |
|
10 |
10 |
8 |
-55 |
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Total
Assets |
|
|
912 |
879 |
881 |
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Current
Assets |
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|
815 |
794 |
792 |
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Current
Liabs |
|
|
232 |
312 |
257 |
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Net
Worth |
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|
407 |
397 |
389 |
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Capital,
Paid-Up |
|
|
302 |
302 |
302 |
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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 |
2.99 |
9.19 |
-9.22 |
-21.19 |
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Current Ratio |
.. |
351.29 |
254.49 |
308.17 |
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N.Worth Ratio |
.. |
44.63 |
45.16 |
44.15 |
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R.Profit/Sales |
1.61 |
1.55 |
3.51 |
-2.41 |
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N.Profit/Sales |
1.08 |
1.11 |
0.97 |
-6.04 |
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Return On Equity |
.. |
2.46 |
2.02 |
-14.14 |
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Notes:
Financials are disclosed in digested form.
Forecast
(or estimated) figures for the 31/12/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.68 |
|
UK Pound |
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.53 |
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 |
|
<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.