MIRA
INFORM REPORT
|
Report Date : |
04.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
PICO INC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.10.2010 |
|
|
|
|
Date of Incorporation : |
September 1977 |
|
|
|
|
Com. Reg. No.: |
(Tokyo-Minatoku)
024826 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, wholesale of electronics communication equipment &
components |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
Yen 27.0 Million |
|
Status : |
Moderate |
|
Payment Behaviour : |
Regular |
|
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Name and address
PICO INC
REGD NAME: Pico
KK
MAIN OFFICE:
Tel:
03-3418-7671 Fax: 03-5418-7680
URL: http://www.picodenshi.com/
E-Mail address: (thru the URL)
ACTIVITIES
Import, wholesale of
electronics communication equipment & components
BRANCHES
OVERSEAS
OFFICER(S)
KOICHI OHSHIMA,
PRES
Akiyoshi Ohshima,
ch
Akihisa Ohshima,
s/mg dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,472 M
PAYMENTS REGULAR CAPITAL Yen 60 M
TREND SLOW WORTH Yen
670 M
STARTED 1977 EMPLOYES 50
COMMENT
IMPORTER OF
ELECTRONIC COMMUNICATION EQUIPMENT.
FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR CREDIT
ENGAGEMENTS:
US$150,000 / O/A 90 DAYS.
MAX CREDIT LIMIT:
YEN 27.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject
company was established by Akiyoshi Ohshima in order to make most of his
experience in the subject line of business.
Koichi is his son, who took the pres office in Oct 2003. This is a trading firm, wholly owned and
operated by the Ohshima family, for import and wholesale of electronic
communication equipment and components: fuses, test probes, switches, LED
analyzers, and other tools. Operates
overseas offices in
FINANCIAL INFORMATION
Financials are
only partially disclosed as is the case with family-based companies.
The
sales volume for Oct/2010 fiscal term amounted to Yen 1,472 million, a 22% down
from Yen 1,880 million in the previous term, as substantially affected by the
global economic downturn particularly in the first half of the term. Exports decreased. High Yen hurt earnings & profits in Yen
terms. The net profit was posted at Yen
27 million, compared with Yen 1 million a year ago. Some extraordinary income is involved, as
reported
For the current
term ending Oct 2011 the net profit is projected at Yen 30 million, on a 5%
rise in turnover, to Yen 1,550 million.
Exports revived, says the firm.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 27.0 million,
on 30 days normal terms. The proposed
amount for 90 days term is well within the firm’s financial capacities.
REGISTRATION
Date Registered: Sept 1977
Regd No.:
(Tokyo-Minatoku) 024826
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 480,000 shares
Issued: 120,000 shares
Sum: Yen 60 million
Major shareholders (%): Akiyoshi Ohshima
(50), Koichi Ohshima (16), Akihisa Ohshima (16),Takae
Ohshima (16)
No. of shareholders: 6
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Imports
and wholesales electronic communication equipment & components: fuses, test
probes, switches, LED analyzers, and related goods (--100%)
Clients: [Electronics mfrs]
Sony Corp, Toshiba Corp, Cannon Inc, Sanyo Electric, Sharp Corp, IBM Japan,
Hitachi Ltd, Kyocera Corp, other.
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sky Gate, Cooper Bussmann, Conquer Electronics, Hollyland
Co, INALWAYS Corp, QA Technology, INPAQ, other.
Imports from
Payment record: Regular
Location: Business area in
Bank References:
SMBC (Shimbashi)
Resona Bank
(Tamachi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/10/2011 |
31/10/2010 |
31/10/2009 |
31/10/2008 |
|
Annual
Sales |
|
1,550 |
1,472 |
1,880 |
1,799 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
30 |
27 |
1 |
-17 |
|
Total
Assets |
|
|
N/A |
N/A |
1,289 |
|
Net
Worth |
|
|
670 |
652 |
651 |
|
Capital,
Paid-Up |
|
|
60 |
60 |
60 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.30 |
-21.70 |
4.50 |
10.17 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
50.50 |
|
|
N.Profit/Sales |
1.94 |
1.83 |
0.05 |
-0.94 |
|
Notes: Financials
are only partially disclosed as from the 31/10/2009 fiscal term.
Forecast (or
estimated) figures for the 31/10/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.96 |
|
|
1 |
Rs.73.37 |
|
Euro |
1 |
Rs.62.33 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
-- |
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.