MIRA INFORM REPORT

 

 

Report Date :           

10.11.2011

 

IDENTIFICATION DETAILS

 

Name :

FIBEST LIMITED

 

 

Registered Office :

4-14-1 Myojincho Hachioji Tokyo-Metrop 192-0046

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

November 2002

 

 

Com. Reg. No.:

(Tokyo-Hachioji) 004722

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of optical communication devices & accessories

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 90.9 Million

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

FIBEST LIMITED

 

 

REGD NAME 

 

Fibest KK

 

 

MAIN OFFICE

 

4-14-1 Myojincho Hachioji Tokyo-Metrop 192-0046 JAPAN

Tel: 042-646-5591      Fax: 042-646-5767

                                               

URL:                             http://www.fibest.com

E-Mail address:            (thru the URL)

 

 

ACTIVITIES  

 

Mfg of optical communication devices & accessories

 

 

BRANCHES   

 

Nil

 

 

OVERSEAS   

 

USA

 

 

FACTORIES

 

 (subcontracted)

 

 

OFFICERS

 

TOSHIHIRO TAKADA, PRES                  Minoru Maeda, ch

Katsuhito Shima, dir                               Tohru Tanimoto, dir

Akihiro Takagi, dir                                  Isao Kobayashi, dir                   

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 4,732 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 482 M

TREND             SLOW                          WORTH            Yen 1,443 M

STARTED                     2002                             EMPLOYES      36

 

 

COMMENT    

 

MFR OF OPTICAL COMMUNICATIONS DEVICES.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 90.9 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Takao Kaneda in order to make most of his experience in the subject line of business.  This is a trading firm, with mfg division, for import, export and wholesale of optical communications devices: resistors, modulators, transformers, integrating EML driver into the small packages. (See OPERATION).  Operates office in USA.  Clients include electronics mfrs, wholesalers, other.

 

 

FINANCIAL INFORMATION

           

Financial are only partially disclosed.

 

The sales volume for Dec/2010 fiscal term amounted to Yen 4,732 million, a 42% up from Yen 3,332 million in the previous term.  Exports were robust into China and other S/E Asian countries.  Business in USA was active.  The net profit was posted at Yen 36 million, compared with Yen 425 million a year ago.

 

For the current term ending Dec 2011 the net profit is projected at Yen 40 million, on a 10% rise in turnover, to Yen 5,200 million.  Business is steadily expanding. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 90.9 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Nov 2002

Regd No.:         (Tokyo-Hachioji) 004722

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         9,650 shares

Issued:                9,650 shares

Sum:                   Yen 482.million

 

Major shareholders (%): Ignite Japan KK (50), Nippon Venture Capital Co (50)

 

No. of shareholders: 2

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: A trading firm, with mfg division, for import, export and wholesale of optical communications devices & attachments: XFP, X2 & YENPAK modules, LN modulators, resisters, transformers, semiconductor parts & components, other (--100%)

 

Clients: [Mfrs, wholesalers] FiBOC, Sumitomo Electric Device Innovation Corp, Fujitsu Optical Components, other 

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Sumitomo Electric Device Innovation Corp, Mitsubishi Electric Co, Kyocera Corp, Rohm Co, Tecdia Co, Hirai Seimitsu Kogyo Co, Adamant Kogyo, other.

 

Payment record: Regular

 

Location: Business area in Hachioji, Tokyo-Metrop.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

·         MUFG (Hachioji-Chuo)

·         SMBC (Hachioji)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

5,200

4,732

3,332

3,537

Recur. Profit

　

　

　

　

　

Net Profit

　

40

36

425

34

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

1,443

1,018

593

Capital, Paid-Up

　

　

482

482

482

Div.P.Share(¥)

　

　

0.00

96.00

425.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

9.89

42.02

-5.80

2.91

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.77

0.76

12.76

0.96

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/12/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.78

UK Pound

1

Rs.80.11

Euro

1

Rs.68.82

 

 

RATING EXPLANATIONS

 

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

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.