MIRA
INFORM REPORT
|
Report Date : |
30.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
PHOENIX ELECTRIC
CO LTD |
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Registered Office : |
703 Mikage
Toyotomicho Himeji Hyogo-Pref 679-2122 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Year of Establishment : |
April 2009 |
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Com. Reg. No.: |
(Hyogo-Himeji)
009439 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of projector
lamps, halogen lamps |
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 105.1 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 – March 31st, 2011
|
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 |
Name and address
PHOENIX ELECTRIC CO LTD
REGD NAME: Phoenix
Denki KK
MAIN OFFICE: 703 Mikage
Toyotomicho Himeji Hyogo-Pref 679-2122 JAPAN
Tel: 079-264-5711 Fax: 079-264-5763
URL: http://www.phoenix-elec.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of projector
lamps, halogen lamps
BRANCHES
Tokyo, Osaka
FACTORIES
At the caption
address (2)
OFFICERS
HIROYA TAHARA,
PRES Atsuji
Nakagawa, mgn dir
Kazuhiko Naitoh,
mgn dir Yoshihisa
Kitada
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,800 M
PAYMENTS REGULAR CAPITAL Yen 90 M
TREND STEADY WORTH Yen
1,065 M
STARTED 2009 EMPLOYES 221
COMMENT
MFR OF PROJECTOR LAMPS, WHOLLY OWNED BY HELIOS TECHNO
HOLDINGS CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 105.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established
on the basis of a projector lamp mfg division separated from Helios Techno
Holding Co Ltd, at the caption address (See REGISTRATION). This is a
specialized mfr of projector lamps, halogen lamps, LED lamps, other. Clients include major electronics mfrs.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal
term is estimated amounted to Yen 4,800 million, a 9% up from Yen 4,386 million
in the previous term. The net profit was
posted at Yen 1,065 million, compared with Yen 175 million net losses a year
ago.
For the current term ending Mar 2012
the net profit is projected at Yen 1,200 million, on a 2% rise in turnover, to
Yen 4,900 million. Business is seen
expanding steadily.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 105.1 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Apr
2009
Regd No.:
(Hyogo-Himeji) 009439
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7,200 shares
Issued: 1,800 shares
Sum: Yen 90 million
Major
shareholders (%): Helios Techno Holding Co Ltd* (100)
*.. Leading mfr of projector lamps, large
rear-projection TV & halogen lamps, at the caption address, founded 1976,
listed Tokyo S/E, capital Yen 2,133 million, sales Yen 13,921 million,
operating profit Yen 259 million, recurring profit Yen 470 million, net profit
Yen 360 million, total assets Yen 11,516 million, net worth Yen 7,200 million,
employees 589, pres Hiroya Tahara, concurrently
Consolidated
Financials are attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
projector lamps, halogen lamps, large rear-projection TV lamps, LED lamps,
other (--100%)
Clients: [Mfrs,
wholesalers] Toshiba Corp, Mitsubishi Electric Corp, PPL, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Materials Japan, Himeji Rika Co, Momentive Performance, other.
Payment record: Regular
Location: Business area in
Himeji City, Hyogo-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Himeji)
SMBC (Himeji)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
4,900 |
4,800 |
4,386 |
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Recur.
Profit |
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Net
Profit |
|
1,200 |
1,150 |
-175 |
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Total
Assets |
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|
2,897 |
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Current
Assets |
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|
2,680 |
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Current
Liabs |
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|
1,694 |
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Net
Worth |
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|
1,065 |
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Capital,
Paid-Up |
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90 |
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Div.P.Share(¥) |
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0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.08 |
9.44 |
- - - |
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Current Ratio |
|
.. |
158.21 |
.. |
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N.Worth Ratio |
.. |
36.76 |
.. |
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R.Profit/Sales |
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.. |
.. |
.. |
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N.Profit/Sales |
24.49 |
23.96 |
-3.99 |
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Return On Equity |
.. |
107.98 |
.. |
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Notes: The
31/03/2010 fiscal term is the initial accounting term from the inception.
Forecast (or estimated)
figures for the 31/03/2012 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT, HELIOS
TECHNO HOLDING CO LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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13,921 |
10,536 |
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Cost of Sales |
10,874 |
8,217 |
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GROSS PROFIT |
3,046 |
2,318 |
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Selling & Adm Costs |
2,787 |
2,476 |
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OPERATING PROFIT |
259 |
157 |
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Non-Operating P/L |
211 |
-137 |
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RECURRING PROFIT |
470 |
-20 |
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NET PROFIT |
360 |
-314 |
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BALANCE SHEET |
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Cash |
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1,617 |
2,999 |
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Receivables |
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2,841 |
2,300 |
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Inventory |
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1,789 |
2,023 |
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Securities, Marketable |
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Other Current Assets |
538 |
676 |
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TOTAL CURRENT ASSETS |
6,785 |
7,998 |
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Property & Equipment |
3,686 |
3,809 |
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Intangibles |
|
277 |
306 |
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Investments, Other Fixed Assets |
768 |
728 |
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TOTAL ASSETS |
11,516 |
12,841 |
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Payables |
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1,162 |
933 |
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Short-Term Bank Loans |
254 |
269 |
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Other Current Liabs |
1,189 |
1,867 |
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TOTAL CURRENT LIABS |
2,605 |
3,069 |
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Debentures |
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Long-Term Bank Loans |
796 |
413 |
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Reserve for Retirement Allw |
158 |
165 |
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Other Debts |
|
757 |
962 |
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TOTAL LIABILITIES |
4,316 |
4,609 |
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MINORITY INTERESTS |
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Common
stock |
2,133 |
2,133 |
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Additional
paid-in capital |
2,563 |
2,563 |
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Retained
earnings |
4,065 |
3,770 |
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Evaluation
p/l on investments/securities |
4 |
11 |
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Others |
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2 |
2 |
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Treasury
stock, at cost |
(1,567) |
(248) |
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TOTAL S/HOLDERS` EQUITY |
7,200 |
8,231 |
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TOTAL EQUITIES |
11,516 |
12,841 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2011 |
31/03/2010 |
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Cash
Flows from Operating Activities |
|
189 |
817 |
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Cash
Flows from Investment Activities |
-206 |
-184 |
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Cash
Flows from Financing Activities |
-1,074 |
-193 |
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Cash,
Bank Deposits at the Term End |
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1,597 |
2,689 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
7,200 |
8,231 |
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Current
Ratio (%) |
260.46 |
260.61 |
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Net
Worth Ratio (%) |
62.52 |
64.10 |
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Recurring
Profit Ratio (%) |
3.38 |
-0.19 |
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Net
Profit Ratio (%) |
2.59 |
-2.98 |
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Return
On Equity (%) |
5.00 |
-3.81 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.94 |
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|
1 |
Rs.71.91 |
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Euro |
1 |
Rs.64.60 |
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 |
-- |
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.