MIRA INFORM REPORT
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Report Date : |
16.03.2011 |
IDENTIFICATION DETAILS
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Name : |
COMTECS CO LTD |
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Registered Office : |
Ozawa Nishigotanda Bldg 8F, 8-1-10 Nishigotanda
Shinagawaku |
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Country : |
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Financials (as on) : |
31.05.2010 |
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Date of Incorporation : |
May
1983 |
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Com. Reg. No.: |
(Tokyo-Shinagawaku) 003457 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale
of system devices, PC peripherals |
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 10.5 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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
COMTECS CO LTD
REGD NAME
KK Comtecs
MAIN OFFICE
Ozawa Nishigotanda
Bldg 8F, 8-1-10 Nishigotanda Shinagawaku
Tel:
03-5759-5111 Fax: 03-5759-5115
*.. Moved to the caption address in Oct 2010 from the former at: SDI Gotanda Bldg,
7-13-6 Nishigotanda Shinagawaku Tokyo, as given
URL: http://www.comtecs.co.jp/
E-Mail address: sales@comtecs.co.jp
ACTIVITIES
Import,
wholesale of system devices, PC peripherals
BRANCHES
OFFICER(S)
MAKOTO
MIYAISHI, PRES
Tomoaki
Asahi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 671 M
PAYMENTS REGULAR CAPITAL Yen
40 M
TREND SLOW WORTH Yen
184 M
STARTED 1983 EMPLOYES 17
COMMENT
IMPORTER & WHOLESALER SPECIALIZING IN SYSTEM DEVICE
& PC PERIPHERALS.
FINANCIAL SITUATION CONSIDERED FARI AND GOOD FOR CREDIT
ENGAGEMENTS: US$50,000 / O/A 45 DAYS.
MAX
CREDIT LIMIT: YEN 10.5 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
This is a trading firm specializing in import and wholesale
of electronics components & systems: system devices, PC’s, PC peripherals,
other. Goods are mostly imported from
FINANCIAL INFORMATION
The sales volume for May/2010 fiscal term amounted to Yen 671 million, an 18% down from Yen 817 million in the previous term. The global economic downturn affected substantially particularly in the first half of the term. Market recovery in the second half could not compensate the loss in the first half. Demand decreased substantially. High Yen hurt sales in Yen terms. The operations plunged into the red to register Yen 18 million recurring loss and Yen 37 million net losses, respectively, compared with Yen 2 million recurring profit and Yen 2 million net profit, respectively, a year ago.
For the current term ending May 2011 the operations are projected to come back to profitability to post Yen 5 million recurring profit and Yen 5 million net profit, respectively, on a 6% rise in turnover, to Yen 710 million. Demand is seen recovering. Yen’s hike will still hurt sales & profits in Yen terms.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 10.5 million, on 30 days normal terms. The proposed amount for 45 days terms is considered within the firm’s financial capacities.
REGISTRATION
Date Registered: May 1983
Regd No.: (Tokyo-Shinagawaku) 003457
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
160 million shares
Issued:
40 million shares
Sum: Yen 40 million
Major shareholders (%): Makoto Miyaishi (70.7), Yuji
Kishi (25), Hiroyuki Yamamoto (2.5), Tomoaki Asahi (1), Yuko Miyaishi (0.8)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales electronics components & systems: Raid subsystem, network cluster storage, touch panel PC, motherboard, PC’s, switches, UPS, LCD monitor, other (--100%).
Clients: [Electronics mfrs, wholesalers] Teraoka Seiko Co, Mars Engineering, Nihon Kohden Corp, Amano Corp, Fukuda Electronics, Mitsubishi Electric, Nippon Computing System, CTC AB, Advantest, Graphtec Corp, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Skynet Electronics, AAEON Technology, ARBOR Technology, Chi Mei
Optoelectronics, Proware Technology, Bearmtech Electronics (--
Domestically supplied from: Oki Semiconductors, Omni Vision Technologies, Nicom Technology, Asahi Kasei Microsystems, other.
Payment record:
Regular
Location:
Business area in
Bank References:
Tokyo
City Shinkin Bank (H/O)
Mizuho
Bank (Gotanda)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/05/2011 |
31/05/2010 |
31/05/2009 |
31/05/2008 |
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Annual
Sales |
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710 |
671 |
817 |
1,115 |
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Recur.
Profit |
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5 |
-18 |
2 |
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Net
Profit |
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5 |
-37 |
2 |
9 |
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Total
Assets |
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765 |
883 |
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Current
Assets |
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699 |
792 |
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Current
Liabs |
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127 |
186 |
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Net
Worth |
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184 |
221 |
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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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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.81 |
-17.87 |
-26.73 |
29.20 |
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Current Ratio |
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.. |
550.39 |
425.81 |
.. |
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N.Worth Ratio |
.. |
24.05 |
25.03 |
.. |
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R.Profit/Sales |
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0.70 |
-2.68 |
0.24 |
.. |
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N.Profit/Sales |
0.70 |
-5.51 |
0.24 |
0.81 |
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Return On Equity |
.. |
-20.11 |
0.90 |
.. |
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Notes:
Forecast (or estimated) figures for the 31/05/2011 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.45.15 |
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1 |
Rs.72.59 |
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Euro |
1 |
Rs.62.95 |
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.