MIRA INFORM REPORT
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Report Date : |
16.05.2011 |
IDENTIFICATION DETAILS
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Name : |
SANYO TUNER INDUSTRIES CO LTD |
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Registered Office : |
1-1 Sanyocho Daito City Osaka-Pref
574-0035 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
April 1996 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of TV tuner, storage
batteries |
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 355.2 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
SANYO TUNER INDUSTRIES CO LTD
REGD NAME
Sanyo Dempa Kogyo
KK
MAIN OFFICE
1-1 Sanyocho Daito
City Osaka-Pref 574-0035 JAPAN
Tel:
072-870-6331 Fax: 072-870-6078
*.. The given
address is its Shimonoseki Branch Office
URL: http//:www.panasonic.co.jp
E-mail: (thru the URL)
ACTIVITIES
Mfg of TV tuner,
storage batteries
BRANCHES
Shimonoseki
(Yamaguchi)
FACTORIES
Subsidiary group
companies
OFFICER(S)
MASAHIRO HOMOTO,
PRES Masashi Tsuneoka, mgn
dir
Akiji Ohira, mgn
dir Yoji
Sasaki, mgn dir
Kazuhiko Koseki,
dir Hideki
Higashiura, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 19,800 M
PAYMENTS REGULAR CAPITAL Yen
90 M
TREND SLOW WORTH Yen
538 M
STARTED 1996 EMPLOYES 147
COMMENT
MFR OF TV TUNERS,
STORAGE BATTERIES, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT:
YEN 355.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a tuner mfg division
separated from Sanyo Electric Co Ltd (now under Panasonic Co Ltd). Specializes in mfg TV tuners, FM & AM
radio tuners, storage batteries, other.
Goods are mostly shipped to the parent and group firms.
FINANCIAL INFORMATION
Financials are consolidated by the parent and only partially disclosed.
The sales volume for Mar/2010 fiscal term amounted to Yen 19,800
million, a 6% down from Yen 21,100 million in the previous term. Sales were affected by the global economic
downturn, particularly in the first half of the term. The net profit is believed posted at Yen 75
million, compared with Yen 85 million a year ago. Net profits were not precisely disclosed. .
For the term that ended Mar 2011 the net profit was projected at Yen 80
million, on a 3% rise in turnover, to Yen 20,300 million. 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 355.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr
1996
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7,200 shares
Issued: 1,800 shares
Sum: Yen
90 million
Major shareholders (%): Sanyo Electric
Co Ltd* (100)
*.. Major comprehensive mfr of consumer electronics, wholly-owned
subsidiary of Panasonic Co Ltd (in Apr 2011), founded 1950, capital Yen 322,242
million, sales Yen 1,489,497 million, operating profit Yen 33,575 million,
recurring profit Yen 20,628 million, net loss Yen 35,161 million, total assets
Yen 1,117,093 million, net worth Yen 77,926 million, employees 10,677, pres
Seiichiro Sano
Consolidated Financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
audio & video equipment: FM & AM tuners, TV tuners, storage batteries,
other (--100%).
Clients: [Mfrs,
wholesalers] Sanyo Electric Co, Funai Electric Co, Funai Electric Hong Kong,
Sanyo Electric Hong Kong, Toshiba Corp Hong Kong, other.
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sanyo Electric Co, Panasonic Co, Kyosha Co, other.
Imports from China, other.
Payment record: Regular
Location: Business area in
Daito City, Osaka-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Shimonoseki)
MUFG (Kitakyushu)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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20,300 |
19,800 |
21,100 |
19,400 |
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Recur.
Profit |
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Net
Profit |
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80 |
75 |
85 |
80 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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538 |
463 |
378 |
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Capital,
Paid-Up |
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90 |
90 |
90 |
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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 |
2.53 |
-6.16 |
8.76 |
26.80 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.39 |
0.38 |
0.40 |
0.41 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2011 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT, SANYO
ELECTRIC CO LTD
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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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1,489,497 |
1,556,596 |
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Cost of Sales |
1,222,363 |
1,254,417 |
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GROSS PROFIT |
267,134 |
302,179 |
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Selling & Adm Costs |
233,559 |
261,822 |
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OPERATING PROFIT |
33,575 |
40,357 |
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Non-Operating P/L |
-12,947 |
-11,376 |
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RECURRING PROFIT |
20,628 |
-28,981 |
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NET PROFIT |
-35,161 |
-48,789 |
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BALANCE SHEET |
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Cash |
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73,881 |
123,635 |
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Receivables |
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240,002 |
290,702 |
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Inventory |
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175,029 |
233,981 |
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Securities, Marketable |
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Other Current Assets |
115,790 |
224,810 |
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TOTAL CURRENT ASSETS |
604,702 |
873,128 |
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Property & Equipment |
358,188 |
383,895 |
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Intangibles |
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Investments, Other Fixed Assets |
83,298 |
70,490 |
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TOTAL ASSETS |
1,117,093 |
1,391,273 |
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Payables |
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234,161 |
293,765 |
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Short-Term Bank Loans |
70,177 |
54,730 |
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Other Current Liabs |
350,054 |
370,749 |
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TOTAL CURRENT LIABS |
654,392 |
719,244 |
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Debentures |
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191,165 |
324,372 |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
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Other Debts |
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193,610 |
218,085 |
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TOTAL LIABILITIES |
1,039,167 |
1,261,701 |
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MINORITY INTERESTS |
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Common
stock |
322,242 |
322,242 |
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Additional
paid-in capital |
781,221 |
781,956 |
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Retained
earnings |
(786,367) |
(751,202) |
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Evaluation
p/l on investments/securities |
(246,467) |
(238,162) |
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Others |
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13,837 |
21,264 |
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Treasury
stock, at cost |
(6,540) |
(6,526) |
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TOTAL S/HOLDERS` EQUITY |
77,926 |
129,572 |
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TOTAL EQUITIES |
1,117,093 |
1,391,273 |
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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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35,757 |
72,891 |
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Cash
Flows from Investment Activities |
-55,778 |
-80,810 |
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Cash
Flows from Financing Activities |
-137,977 |
68,766 |
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Cash,
Bank Deposits at the Term End |
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114,947 |
282,476 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net Worth
(S/Holders' Equity) |
77,926 |
129,572 |
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Current
Ratio (%) |
92.41 |
121.40 |
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Net
Worth Ratio (%) |
6.98 |
9.31 |
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Recurring
Profit Ratio (%) |
1.38 |
-1.86 |
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Net
Profit Ratio (%) |
-2.36 |
-3.13 |
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Return
On Equity (%) |
-45.12 |
-37.65 |
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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.