MIRA
INFORM REPORT
|
Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
SONY DADC JAPAN
INC |
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Registered Office : |
1300-1 Ohata
Yoshidacho Haibaragun Shizuoka-Pref 421-0305 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
October 2001 |
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Com. Reg. No.: |
(Shizuoka-Haibaragun)
002202 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of
CD, DVD, UMD, BD |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 1,750.09 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Usually Correct |
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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 |
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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 |
Name and address
SONY DADC JAPAN INC
REGD NAME: KK
Sony DADC
MAIN OFFICE: 1300-1
Ohata Yoshidacho Haibaragun Shizuoka-Pref 421-0305 JAPAN
Tel: 0548-33-1234 Fax: 0548-33-1245
*.. The given address is
its Tokyo Office
URL: http://www./sonydadc.co.jp
E-Mail address: (thru
the URL)
ACTIVITIES
Mfg of CD, DVD,
UMD, BD
BRANCHES
Tokyo
FACTORIES
At the caption
address, Ibaraki
OFFICER(S)
KAZUMI SAWADA,
PRES
Naoki Kitagawa,
dir
Masao Miyamura,
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 35,000 M*
PAYMENTS REGULAR CAPITAL Yen 211 M
TREND SLOW WORTH Yen
23,579 M
STARTED 2001 EMPLOYES 770
*.. Only estimated as the
figures are not disclosed.
COMMENT
MFR OF CD, DVD, OTHER, WHOLLY OWNED BY SONY CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$100,000.00 / O/A 14 DAYS
MAX CREDIT LIMIT:
YEN 1,750.09 MILLION, ON 30 DAYS
NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1968 on the basis of a
division separated from Sony Corp (See REGISTRATION),
as CBS Sony Record Co Ltd, and was reorganized and reestablished in 2001. Renamed as captioned in Apr 2009. Specializes in mfg music CD, DVD, UMD, BD,
other, all recorded. Goods are shipped
to Sony Music Entertainment and Sony group companies.
FINANCIAL INFORMATION
Financials are consolidated by the top parent, Sony Corp, and not disclosed,
except partial B/S details.
As gathered from outside sources the sales volume for Mar/2010 fiscal
term should have been Yen 35,000 million, a 17% up from Yen 30,000 million in
the previous term, but this has not been confirmed. The net profit is confirmed posted at Yen
1,783 million, compared with Yen 615 million a year ago.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,750.9
million, on 30 days normal terms. Max
credit limit of the parent, Sony Corp, is estimated at Yen 104,115.6 million,
on 30 days normal terms. The proposed
amount is considered well within the firm’s financial capacities.
REGISTRATION
Date Registered: Oct
2001
Regd No.:
(Shizuoka-Haibaragun) 002202
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 9,600 shares
Issued: 9,600 shares
Sum: Yen 480 million
Major shareholders
(%): Sony Corp*, Sony Music Entertainment (Japan) Inc** (--100)
*.. Mfr of consumer electronics,
Tokyo, founded 1946, listed Tokyo, Osaka, New York, London S/E’s, capital Yen
630,888 million, sales Yen 7,213,998 million, operating profit Yen 31,772
million, recurring loss Yen 26,912 million, net loss Yen 40,862 million, total
assets Yen 12,866,114 million, net worth Yen 3,285,555 million, employees
169,900, pres Howard Stringer
Consolidated
Financials are attached (See SUPPLEMENTS)
**..Holding company of Sony group firms,
Tokyo, wholly owned by Sony Corp, founded 2003, capital Yen 100 million,
turnover Yen 18,210 million, net loss 5,415 million, employees 197, pres Naoki
Kitgawa
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Manufactures music recorded/printed CD,
DVD, UMD, BD, other (--100%).
Clients: [Sony group
firms] Sony Music Entertainment, SME, Sony Music Communications,other.
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Teijin Chemicals, Konishi Co, Fuji Plastics, Nakatani Sangyo, Pulstec
Ind, DIC, Palstec Ind, JSU Co, Comnet Corp, Free Lines Co, JSU Co, other .
Payment record: Regular
Location: Business area in
Haibaragun, Shizuoka-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Shinjukudori)
Suruga Bank
(Fujieda-Eki)
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 |
|
38,000 |
35,000 |
30,000 |
30,000 |
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Recur.
Profit |
|
|
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|
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Net
Profit |
|
1,900 |
1,783 |
615 |
2,049 |
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Total
Assets |
|
|
29,852 |
28,157 |
16,015 |
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Current
Assets |
|
|
16,665 |
14,763 |
13,053 |
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Current
Liabs |
|
|
5,702 |
6,076 |
5,071 |
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Net
Worth |
|
|
23,579 |
21,543 |
20,928 |
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Capital,
Paid-Up |
|
|
480 |
480 |
480 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
8.57 |
16.67 |
0.00 |
0.00 |
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Current Ratio |
|
.. |
292.27 |
242.97 |
257.40 |
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N.Worth Ratio |
.. |
78.99 |
76.51 |
130.68 |
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R.Profit/Sales |
|
.. |
.. |
.. |
.. |
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N.Profit/Sales |
5.00 |
5.09 |
2.05 |
6.83 |
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Return On Equity |
.. |
7.56 |
2.85 |
9.79 |
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Notes: Financials are only partially disclosed. (*) Sales figures are only estimated and not
verified as the firm does not disclose them.
Forecast (or
estimated) figures for the 31/03/2011 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT, SONY CORP
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2010 |
31/03/2009 |
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INCOME STATEMENT |
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Annual Sales |
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7,213,998 |
7,729,993 |
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Cost of Sales |
4,892,563 |
5,660,504 |
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GROSS PROFIT |
2,321,435 |
2,069,489 |
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Selling & Adm Costs |
2,289,603 |
-1,841,706 |
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OPERATING PROFIT |
31,772 |
-227,783 |
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Non-Operating P/L |
-4,860 |
-52,788 |
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RECURRING PROFIT |
26,912 |
-174,955 |
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NET PROFIT |
-40,802 |
-98,938 |
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BALANCE SHEET |
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Cash |
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1,191,608 |
660,789 |
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Receivables |
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996,100 |
963,837 |
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Inventory |
|
645,455 |
813,068 |
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Securities, Marketable |
579,493 |
466,912 |
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Other Current Assets |
720,216 |
716,029 |
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TOTAL CURRENT ASSETS |
4,132,872 |
3,620,635 |
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Property & Equipment |
1,007,951 |
1,175,863 |
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Intangibles |
|
378,917 |
396,348 |
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Investments, Other Fixed Assets |
7,346,374 |
6,820,665 |
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TOTAL ASSETS |
12,866,114 |
12,013,511 |
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Payables |
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Short-Term Bank Loans |
48,785 |
303,615 |
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Other Current Liabs |
4,011,140 |
3,507,285 |
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TOTAL CURRENT LIABS |
4,059,925 |
3,810,900 |
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Debentures |
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Long-Term Bank Loans |
924,207 |
660,147 |
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Reserve for Retirement Allw |
295,526 |
365,706 |
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Other Debts |
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4,300,901 |
3,960,156 |
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TOTAL LIABILITIES |
9,580,559 |
8,796,909 |
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MINORITY INTERESTS |
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Capital, Paid-Up |
630,822 |
630,765 |
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Surplus |
|
2,654,733 |
2,585,837 |
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SHAREHOLDERS' EQUITY |
3,285,555 |
3,216,602 |
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TOTAL EQUITIES |
12,866,114 |
12,013,511 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2010 |
31/03/2009 |
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Cash
Flows from Operating Activities |
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912,907 |
407,153 |
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Cash
Flows from Investment Activities |
-746,004 |
-1,081,342 |
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Cash
Flows from Financing Activities |
365,014 |
267,458 |
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Cash,
Bank Deposits at the Term End |
|
1,191,608 |
660,789 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2010 |
31/03/2009 |
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Net
Worth (S/Holders' Equity) |
3,285,555 |
3,216,602 |
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Current
Ratio (%) |
101.80 |
95.01 |
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Net
Worth Ratio (%) |
25.54 |
26.77 |
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Recurring
Profit Ratio (%) |
0.37 |
-2.26 |
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Net
Profit Ratio (%) |
-0.57 |
-1.28 |
||
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Return
On Equity (%) |
-1.24 |
-3.08 |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
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 |
|
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 |
-- |
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.