MIRA INFORM REPORT
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Report Date : |
14.05.2011 |
IDENTIFICATION DETAILS
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Name : |
SHOTOKU CORP |
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Registered Office : |
6-10-10 Futago Takatsuku Kawasaki
Yokohama-Pref 213-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
December 1944 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of broadcasting systems, devices, electronic
controllers |
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 38.9 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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Japan |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company name
SHOTOKU CORP
REGD NAME
KK Shotoku
Seisakusho
MAIN OFFICE
6-10-10 Futago Takatsuku
Kawasaki Yokohama-Pref 213-0002 JAPAN
Tel:
044-833-3351 Fax: 044-833-5807
URL: http//:www.shotoku.co.jp
E-mail: honsha@shotoku.co.jp
ACTIVITIES
Mfg of
broadcasting systems, devices, electronic controllers
BRANCHES
Kawasaki,
Fukuyama
OVERSEAS
UK,
USA
FACTORIES
Sendai,
Yokohama
OFFICER(S)
KAORU
HANADA, PRES Tadayoshi Itoh, dir
Masao
Hasegawa, dir Yuji Ikeda,
dir
Kiyoshi
Yamazaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,119 M
PAYMENTS REGULAR CAPITAL Yen 99 M
TREND SLOW WORTH Yen
581 M
STARTED 1944 EMPLOYES 380
COMMENT
MFR OF BROADCAST SYSTEMS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT
LIMIT: YEN 38.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by father of Kaoru Hanada in order
to make most of his experience in the subject line of business. This is a specialized mfr of televising
studio machines & devices, industrial machines, electronic controllers,
other. The Sendai Factory was reportedly
damaged by the recent Great East Japan Earthquake but has reportedly resumed
operations.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 6,119 million,
a 17% down from Yen 7,438 million in the previous term, as affected by the
global economic downturn, particularly in the first half of the term. Sales declined substantially. Exports were hurt by the high Yen, reducing
earnings in Yen terms. The recurring
profit was posted by Yen 65 million and the net profit at Yen 21 million,
respectively, compared with Yen 55 million recurring profit and Yen 13 million
net profit, respectively, a year ago. .
or the term that ended Mar 2011 the recurring profit was projected at
Yen 70 million and the net profit at Yen 25 million, respectively, on a 3% rise
in turnover, to Yen 6,300 million.
However, this projection was made before the Earthquake and considering
the damaged Sendai Factory the earnings & profits could have been
declined. 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 38.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec 1944
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 7
million shares
Issued: 1.98
million shares
Sum: Yen 99 million
Major shareholders (%): Kaoru Hanada (17.8), Sanyo Ltd
(8.4), JFE Steel (8.1), Toshiro Obana (7.4)
No. of shareholders: 81
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
electronic controllers, other products (25%), special parts, tools & jigs (21%),
broadcast systems, others (12%), others 12%).
(Broadcast
systems): camera support systems including robotic cameras, VR camera tracking,
manual pedestals, heads & tripods for almost any broadcast application.
Clients: [Mfrs,
wholesalers] JFE Steel Corp, Canon Inc, Toshiba Corp, NHK, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kyowa Tekkosho, Toba Inc, DI-Nikko Engineering Co, Maruyoshi Inc,
SLIK Co, other
Payment record: Regular
Location: Business area in
Kawasaki. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Bank
of Yokohama (Musashikosugi)
Shoko
Chukin Bank (Kawasaki)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
|
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Annual
Sales |
|
6,300 |
6,119 |
7,438 |
5,833 |
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Recur.
Profit |
|
70 |
65 |
55 |
151 |
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Net
Profit |
|
25 |
21 |
13 |
61 |
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Total
Assets |
|
|
5,487 |
5,789 |
5,316 |
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Current
Assets |
|
|
3,555 |
3,694 |
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Current
Liabs |
|
|
1,979 |
2,409 |
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Net
Worth |
|
|
581 |
548 |
547 |
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Capital,
Paid-Up |
|
|
99 |
99 |
99 |
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Div.P.Share(¥) |
|
|
4.00 |
4.00 |
6.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.96 |
-17.73 |
27.52 |
18.17 |
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Current Ratio |
|
.. |
179.64 |
153.34 |
.. |
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N.Worth Ratio |
.. |
10.59 |
9.47 |
10.29 |
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R.Profit/Sales |
|
1.11 |
1.06 |
0.74 |
2.59 |
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N.Profit/Sales |
0.40 |
0.34 |
0.17 |
1.05 |
|
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Return On Equity |
.. |
3.61 |
2.37 |
11.15 |
|
Notes:
Tentative forecast (or estimated) figures for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.91 |
|
UK Pound |
1 |
Rs.73.06 |
|
Euro |
1 |
Rs.64.03 |
RATING EXPLANATIONS
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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 |
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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 |
|
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 |
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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.