MIRA INFORM REPORT
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Report Date : |
24.03.2011 |
IDENTIFICATION DETAILS
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Name : |
NISSEICOM LIMITED |
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Registered Office : |
NT Bldg, 1-47-1 O’I Shinagawaku |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
February 1974 |
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Com. Reg. No.: |
(Tokyo-Shinagawaku) 007547 |
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Legal Form : |
Limited Company |
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Line of Business : |
Network system, information system, system integration
services |
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 555.1 Million |
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Status : |
Satisfactory |
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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
NISSEICOM LIMITED
REGD NAME
KK Nisseicom
MAIN OFFICE
NT Bldg, 1-47-1
O’I Shinagawaku
Tel:
03-5742-7200 Fax: 03-5742-7375
URL: http//:www.nisseicom.co.jp
E-mail: (thru the URL)
ACTIVITIES
Network
system, information system, system integration services
BRANCHES
FACTORIES
(subcontracted)
OFFICER(S)
HIDENORI
TAKEMOTO, PRES
Fumio
Kaiwa, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 20,031 M
PAYMENTS REGULAR CAPITAL Yen
300 M
TREND SLOW WORTH Yen
5,331 M
STARTED 1974 EMPLOYES 825
COMMENT
NETWORK
SYSTEM INTEGRATION & SOLUTION SERVICES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT
LIMIT: YEN 555.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company is a solution provider affiliated to Hitachi
Ltd. Has three major divisions: system
integration, maintenance and sale of information/telecommunication devices
& software (See OPERATION). Actively expanding business into schools
(financing/accounting) and health insurance association (system
development). Clients are Hitachi Ltd
and group firms.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 20,031
million, an 8% down from Yen 21,678 million in the previous term. The global economic downturn affected
substantially in the first half of the term.
The recurring profit was posted at Yen 329 million and the net profit at
Yen 135 million, respectively, compared with Yen 467 million recurring profit
and Yen 238 million net profit, respectively, a year ago. .
For the current term ending Mar 2011 the recurring profit is projected
at Yen 330 million and the net profit at Yen 140 million, respectively, on a 2%
rise in turnover, to Yen 20,500 million.
The firm reported 6 months results ending Sept/2010 as: sales Yen 9,636
million, operating profit Yen 323 million, recurring profit at Yen 177 million,
net profit at Yen 97 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 555.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb
1974
Regd No.: (Tokyo-Shinagawaku)
007547
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 24,000 shares
Issued: 6,000 shares
Sum: Yen
300 million
Major shareholders (%):
Nissei Ltd* (65), Hitachi Ltd** (30)
No. of shareholders: 18
*.. Mfr of underground parking systems, Tokyo, Hitachi Group firm,
founded 1953, capital Yen 450 million, sales Yen 24,334 million, recurring
profit Yen 445 million, net profit Yen 298 million, employees 319, pres Masao
Takizawa
**.. Largest comprehensive mfr of electrical machinery, Tokyo, founded
1920, listed Tokyo, Osaka, Nagoya, Luxemburg, Frankfurt, Amsterdam, Paris, New
York S/E’s, capital Yen 408,814 million, turnover Yen 8,968,546 million,
recurring profit Yen 63,580 million, net loss Yen 106,961 million, total assets
Yen 8,951,762 million, net worth Yen 1,284,658 million, employees 352,524, pres
Takashi Kawamura
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Information
system solution provider (--100%)
(Handling items): System
Integration (application package (Grow One Cube), ERP solution, business system
solution (personnel, accounting, wages, sales management), network
infrastructure); Support & Service (maintenance of hardware devices, software
development, LAN/Power/Free access floor, other, ASP service, housing service,
business outsourcing service; Sale of information equipment/devices, software,
peripherals, other.
Clients: [Mfrs, business
firms] Hitachi Capital, Kanden System Solutions, Hitachi Ltd, other Hitachi
Group firms
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hitachi Ltd, Hitachi Electronics Service, Daiwabo Information
System, other
Payment record: Regular
Location: Business area in
Bank References:
MUFG
(Toranomon-Chuo)
Mizuho
Bank (Shiba)
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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20,500 |
20,031 |
21,678 |
21,806 |
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Recur.
Profit |
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330 |
329 |
467 |
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Net
Profit |
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140 |
135 |
238 |
403 |
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Total
Assets |
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13,235 |
13,736 |
13,771 |
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Current
Assets |
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10,272 |
8,383 |
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Current
Liabs |
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4,411 |
4,407 |
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Net
Worth |
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5,331 |
5,293 |
5,266 |
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Capital,
Paid-Up |
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300 |
300 |
300 |
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Div.P.Share(¥) |
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100.00 |
110.00 |
130.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.34 |
-7.60 |
-0.59 |
-7.79 |
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Current Ratio |
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.. |
232.87 |
190.22 |
.. |
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N.Worth Ratio |
.. |
40.28 |
38.53 |
38.24 |
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R.Profit/Sales |
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1.61 |
1.64 |
2.15 |
.. |
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N.Profit/Sales |
0.68 |
0.67 |
1.10 |
1.85 |
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Return On Equity |
.. |
2.53 |
4.50 |
7.65 |
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Notes:
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.44.96 |
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1 |
Rs.73.57 |
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Euro |
1 |
Rs.63.68 |
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.