MIRA INFORM REPORT
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Report Date : |
14.05.2011 |
IDENTIFICATION DETAILS
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Name : |
YE DATA INC |
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Registered Office : |
182 Shinko Iruma
Saitama-Pref 358-0055 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
September 1973 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer
of high-performance EDDs |
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 270.3 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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Company name
YE DATA INC
REGD NAME
KK YE Data
MAIN OFFICE
182 Shinko Iruma
Saitama-Pref 358-0055 JAPAN
Tel:
04-2932-9850 Fax: 04-2932-9881-
URL: http://www.yedata.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg o
high-performance EDDs
BRANCHES
Tokyo,
Osaka
OVERSEAS
Taipei
(Taiwan)
FACTORIES
At the
caption address
CHIEF EXEC
KANEYUKI
HAMDA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 5,529 M
PAYMENTS REGULAR CAPITAL Yen 5,008 M
TREND SLOW WORTH Yen 5,460 M
STARTED 1973 EMPLOYES 203
COMMENT
MFR OF HIGH-PERFORMANCE EDDs
FINANCIAL SITUATION COSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 270.3 MILLION, 30 DAYS NORMAL TERMS
Tentative
forecast figures for the 31/03/2012
fiscal term.
HIGHLIGHTS
This is a mid-size mfr of high-performance FDDs, but downsizing FDD
business. Growing internationally thru
technological licenses extended to US, China and S Korea. Strengthening system equipment for LCD mfg,
and small information terminals.
Affiliated with Yasukawa Electric.
The firm plans to suspend production of encoders bound for Yasukawa
Electric Corporation in China. It
intends to accelerate restructuring mainly of systems for Opto-related
products, such as galvano scanners, and information infrastructure.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 5,529 million,
a 25.4% up from Yen 4,408 million in the previous term. This is thanks to the inclusion of two
subsidiaries as consolidated companies: YD Mechatro Solutions KK and Ray
Research Corp (--mfr of semiconductor, other).
By Divisions, Opto-Mechatronics Div up 97.5% to Yen 3,306 million,
thanks to the expanded operations in China & Taiwan; Information Security
Div up 3.2% to Yen 455 million; Information-Multimedia Div down 22.9% to Yen
1,767 million. As a result, the
operations came back to profitability and posted Yen 74 million recurring
profit and Yen 25 million net profit, respectively, compared with Yen 561
million recurring loss and Yen 885 million net losses, respectively, a year
ago. .
For the current term ending Mar 2012 the recurring profit is tentatively
projected at Yen 70 million and the net profit at Yen 20 million, on a 0.52%
rise in turnover, to Yen 5,500 million.
This is only a tentative forecast as there are many uncertain &
variable factors affecting the sales, such as material supply shortage, etc as
affected by the recent Earthquake in North Japan. The firm will set the forecast in due course.
The financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 270.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1973
Legal Status:
Limited Company (Kabushiki Kaisha
Authorized: 36 million shares
Issued: 19,730,000 shares
Sum: Yen 5,008
million
Major
shareholders (%): Yasukawa Electric* (57.1), Company’s Treasury Stock (3.3),
UB Co (1.1), Employees’ S/Holding Assn (0.8), Fumiko Udo (0.6), Wataru Shimizu
(0.6), Yasukawa Electric Engineering (0.5), Hiromichi Ikoma (0.5), Yasuhide
Arakawa (0.5), Kiyo Yoshida (0.3); foreign owners (0.3)
*.. Mfr of electric motors, Kita-Kyushu, Fukuoka, founded 1915, listed
Tokyo, Fukuoka S/E’s, capital Yen 23,062 million, sales Yen 296,847 million,
operating profit Yen 12,874 million, recurring profit Yen 13,429 million, net
profit Yen 6,544 million, total assets Yen 264,594 million, net worth Yen
98,029 million, employees 8,176, pres Junji Tsuda
No. of
shareholders: 2,176
Listed on the
S/Exchange (s) of: Tokyo (second section)
Managements: Kaneyuki Hamada,
pres; Ken’ichi Hamada, mgn dir; Naoto Shimozono, mgn dir; Tatsuya Yamazaki, dir
Nothing detrimental is known as to the commercial morality of
executives.
Related companies: YD Mechatronix
Solutions, Ray Research Corp, other.
OPERATION
Activities: Manufactures;
(Sales Breakdown
by Divisions):
Opto-Mechatronics
(38%): laser marking systems, optical components, 2D code readers, Galvano
scanner MIRAMOTION, Opto components, YD Mechatro Solutions products;
Information
Security (10%): ontrack date recovery, YD forensics;
Information
Multi-Media (52%): photo kiosk system, multi card & photo kiosk
card reader, wireless UWB products, FDD unit – portable AES HDD, digital
printing & maintenance service, EDS products, other;
Overseas sale
Clients: [Mfrs,
wholesalers] Fujitsu Ltd, Toray Engineering Co, Sanwa Technos, Otsuka Corp,
other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] TDK, Panasonic Corp, Rohm Co, Toshiba Corp, Sumitomo 3M, other
Payment record: Regular
Location:
Business area in Iruma City, Saitama-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Mizuho
Bank (Marunouchi)
MUFG
(Ikebukuro)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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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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5,529 |
4,408 |
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Cost of Sales |
4,664 |
4,031 |
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GROSS PROFIT |
865 |
377 |
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Selling & Adm Costs |
831 |
977 |
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OPERATING PROFIT |
33 |
-600 |
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Non-Operating P/L |
41 |
39 |
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RECURRING PROFIT |
74 |
-561 |
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NET PROFIT |
25 |
-885 |
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BALANCE SHEET |
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Cash |
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2,425 |
1,871 |
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Receivables |
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2,264 |
2,437 |
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Inventory |
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810 |
817 |
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Securities, Marketable |
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Other Current Assets |
868 |
901 |
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TOTAL CURRENT ASSETS |
6,367 |
6,026 |
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Property & Equipment |
739 |
859 |
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Intangibles |
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16 |
35 |
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Investments, Other Fixed Assets |
728 |
835 |
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TOTAL ASSETS |
7,850 |
7,755 |
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Payables |
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905 |
728 |
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Short-Term Bank Loans |
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Other Current Liabs |
341 |
435 |
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TOTAL CURRENT LIABS |
1,246 |
1,163 |
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Debentures |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
1,118 |
1,103 |
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Other Debts |
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25 |
51 |
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TOTAL LIABILITIES |
2,389 |
2,317 |
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MINORITY INTERESTS |
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Common
stock |
5,008 |
5,008 |
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Additional
paid-in capital |
522 |
522 |
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Retained
earnings |
238 |
213 |
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Evaluation
p/l on investments/securities |
(129) |
(127) |
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Others |
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(13) |
(13) |
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Treasury
stock, at cost |
(166) |
(166) |
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TOTAL S/HOLDERS` EQUITY |
5,460 |
5,437 |
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TOTAL EQUITIES |
7,850 |
7,755 |
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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 |
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Cash
Flows from Investment Activities |
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Cash
Flows from Financing Activities |
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Cash,
Bank Deposits at the Term End |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
5,460 |
5,437 |
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Current
Ratio (%) |
511.00 |
518.14 |
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Net
Worth Ratio (%) |
69.55 |
70.11 |
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Recurring
Profit Ratio (%) |
1.34 |
-12.73 |
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Net
Profit Ratio (%) |
0.45 |
-20.08 |
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Return
On Equity (%) |
0.46 |
-16.28 |
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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.44.91 |
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UK Pound |
1 |
Rs.73.06 |
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Euro |
1 |
Rs.64.03 |
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.