MIRA INFORM REPORT
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Report Date : |
28.02.2011 |
IDENTIFICATION DETAILS
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Name : |
VERTEX STANDARD CO LTD |
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Registered Office : |
4-8-8 Meguro
Meguroku |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
February
1956 |
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Com. Reg. No.: |
(Tokyo-Meguroku) 006984 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale
of communication equipment |
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 605.5 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
VERTEX STANDARD CO LTD
REGD NAME
KK Vertex Standard
MAIN OFFICE
4-8-8 Meguro
Meguroku
Tel:
03-5725-6111 Fax: 03-5725-6201
URL: www.vxst.com
E-mail: (thru the URL)
ACTIVITIES
Import,
wholesale of communication equipment
BRANCHES
Nil
OFFICER(S)
JUN
HASEGAWA, PRES Mark F Moon, dir
Jeffrey
A Spaeth, dir Gino A
Bonaotte, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 12,032 M
PAYMENTS REGULAR CAPITAL Yen
4,229 M
TREND SLOW WORTH Yen
15,363 M
STARTED 1956 EMPLOYES 145
COMMENT
TRADING FIRM SPECIALIZING IN
COMMUNICATION EQUIPMENT, AFFILIATED TO MOTOROLA
GROUP,
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 605.5
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally as Yaesu Musen KK and in
Jan 2009 joined the Motorola Group,
FINANCIAL INFORMATION
The sales volume for Dec/2009 fiscal term amounted to Yen 12,032
million, a 5% down from Yen 12,672 million in the previous term. The operations continued in the red to post
Yen 382 million net losses for the term, compared with Yen 374 million net
losses a year ago. .
For the term that ended Dec 2010 the operations were projected to come
back to profitability but still remained to a minimum amount post-taxes, on a
2% rise in turnover, to Yen 12,300 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 605.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb
1956
Regd No.: (Tokyo-Meguroku)
006984
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,458,000 shares
Issued: 8,458,000 shares
Sum: Yen
4,229,581,000
Major shareholders (%):
Motorola Group USA (78)
No. of shareholders:
Unavailable
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales wireless communication equipment & peripherals: land mobile
radio, marine radio, air band radio, ham radio, other (--100%).
Clients: [Mfrs, wholesalers]
Standard Co Ltd, Vertex Standard USA Inc, Vertex Standard HK Ltd, Vertex
Standard (Suzhou) Co, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Yaesu Musen Co, Kenpro Kogyo Co, Nihon Denkei Co, Tachibana
Electron Co, other
Payment record: Regular
Location: Business area in
Bank References:
MUFG
(Mita)
SMBC
(Den’enchofu)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2010 |
31/12/2009 |
31/12/2008 |
31/03/2008 |
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Annual
Sales |
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12,300 |
12,032 |
12,672 |
16,537 |
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Recur.
Profit |
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Net
Profit |
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0 |
-482 |
-374 |
-289 |
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Total
Assets |
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18,206 |
18,951 |
19,561 |
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Current
Assets |
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8,627 |
8,985 |
9,466 |
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Current
Liabs |
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2,337 |
2,833 |
2,846 |
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Net
Worth |
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15,363 |
15,846 |
16,221 |
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Capital,
Paid-Up |
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4,229 |
4,229 |
4,229 |
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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 |
2.23 |
-5.05 |
-2.17 |
12.23 |
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Current Ratio |
|
.. |
369.15 |
317.15 |
332.61 |
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N.Worth Ratio |
.. |
84.38 |
83.62 |
82.93 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.00 |
-4.01 |
-2.95 |
-1.75 |
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Return On Equity |
.. |
-3.14 |
-2.36 |
-1.78 |
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Notes: The 31/12/2008 fiscal term was for irregular 9 months
due to change in accounting term to Jan/Dec from Apr/Mar. The growth rates are adjusted on a 12-month
basis.
Forecast
(or estimated) figures for the 31/12/2010 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.45.37 |
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|
1 |
Rs.73.25 |
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Euro |
1 |
Rs.62.68 |
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.