MIRA INFORM REPORT
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Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
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Name : |
IM ELECTRONICS CO LTD |
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Registered Office : |
6-40 Yamashirocho Tottori 680-0008 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
September 1978 |
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Com. Reg. No.: |
(Tottori-Tottori) 000002 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of electronics components |
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 290.4 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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
IM ELECTRONICS CO LTD
REGD NAME
IM Denshi KK
MAIN OFFICE
6-40 Yamashirocho Tottori
680-0008
Tel:
0857-22-1511 Fax: 0857-37-1800
E-Mail address: info@imenet.co.jp
ACTIVITIES
Mfg of
electronics components
BRANCHES
Nil
OVERSEAS
China
(2), Thailand
FACTORIES
At the
caption address, Iwami, Izumi (--Tottori); China, Thailand
OFFICERS
HIDETSUGU
NOGUCHI, PRES Toshihisa
Umemoto, s/mgn dir
Masataka
Noguchi, s/mgn dir Masahito
Kikuchi, dir
Hiroyuki
Ueda, dir Hideyuki Noguchi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,176 M
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND SLOW WORTH Yen
2,524 M
STARTED 1978 EMPLOYES 160
COMMENT
MFR SPECIALIZING IN ELECTRONICS PRODUCTS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 290.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Hidetsugu Noguchi in order to
make most of his experience in the subject line of business. This is a specialized mfr of EMS business for
mfg car-related electronics products: sensor substrate for engines, keyless
door SW transmitting & receiving apparatus, cellular phones, other. Operates mfg bases overseas: China (2) and
Thailand. Domestic clients include major
electronics makers.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 4,176 million,
a 38% down from Yen 6,716 million in the previous term, as substantially
affected by the global economic downturn.
The recurring profit was posted at Yen 315 million and the net profit at
Yen 145 million, compared with Yen 55 million net profit a year ago.
For the term that ended Mar 2011 the recurring profit was projected at
Yen 320 million and the net profit at Yen 150 million, respectively, on an 8%
rise in turnover, to Yen 4,500 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 290.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1978
Regd No.: (Tottori-Tottori) 000002
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 320,000 shares
Issued: 80,000 shares
Sum: Yen 40 million
Major shareholders (%): Hidetsugu Noguchi (53),
Company’s Treasury Stock (25), Fumiko Noguchi (5), Masataka Noguchi (3),
Hedeyuki Noguchi (3)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
electronics products/equipment: flexible printer circuit board, integration
panel switches & keyless entry system for cars, LCD back light, switch
panel for OA & industrial facilities, sensor substrate for engines,
cellular phones, digital cameras, car navigation systems, notebook computer,
other (--100%).
Clients: [Mfrs,
wholesalers] Panasonic Electric Devices, Nidec Corp, Nippon Leiz Corp, Tottori
Sanyo Electric Corp, Omron Corp, Japan Aviation Electronics Ind, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Panasonic Electronic Devices, Omron Corp, IM Electronics Hong Kong,
O-Well Corp, Elematec Corp, Tyco Electronics Japan, other
Payment record: Regular
Location: Business area in
Tottori. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
San-In
Godo Bank (Johoku)
Tottori
Bank (H/O)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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4,500 |
4,176 |
6,716 |
8,114 |
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Recur.
Profit |
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320 |
315 |
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Net
Profit |
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150 |
145 |
55 |
293 |
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Total
Assets |
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2,917 |
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Current
Assets |
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2,161 |
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Current
Liabs |
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393 |
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Net
Worth |
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2,524 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.76 |
-37.82 |
-17.23 |
-4.54 |
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Current Ratio |
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549.87 |
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.. |
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N.Worth Ratio |
.. |
86.53 |
.. |
.. |
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R.Profit/Sales |
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7.11 |
7.54 |
.. |
.. |
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N.Profit/Sales |
3.33 |
3.47 |
0.82 |
3.61 |
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Return On Equity |
.. |
5.74 |
.. |
.. |
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Notes:
Financials are disclosed in digest form for the first time for the 31/03/2010 fiscal
term.
Forecast
(or estimated) figures for the 31/03/2011 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.44.72 |
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UK Pound |
1 |
Rs.73.47 |
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Euro |
1 |
Rs.65.38 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.