MIRA INFORM REPORT
|
Report Date : |
24.11.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
DAIWABO INFORMATION SYSTEM LTD |
|
|
|
|
Registered Office : |
3-2-5 Honmachi Chuoku Osaka 541-0053 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
April 1982 |
|
|
|
|
Com. Reg. No.: |
(Osaka-Chuoku) 083217 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of PC’s & peripherals, development of PC software |
|
|
|
|
No. of Employees
: |
1,492 Persons |
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 9,863.6 Million |
|
|
|
|
Status : |
Good |
|
|
|
|
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
DAIWABO INFORMATION SYSTEM LTD
REGD NAME
Daiwabo Joho
System KK
MAIN OFFICE
3-2-5 Honmachi
Chuoku Osaka 541-0053 JAPAN
Tel:
06-6281-1161 Fax: 06-6281-1164
URL: http://www.daiwabo.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Wholesale
of PC’s & peripherals, development of PC software
BRANCHES
Tokyo,
other from Hokkaido to Kyushu (Total 87)
OFFICERS
YOSHIHIRO
NOGAMI, PRES Tatsuya
Yasunaga, s/mgn dir
Yoshio
Koyama, mgn dir Yukihiro
Nishimura, dir
Toshiharu
Tone, dir Toshihiro
Tatsumi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 388,200 M
PAYMENTS REGULAR CAPITAL Yen 11,813 M
TREND STEADY WORTH Yen
40,753 M
STARTED 1982 EMPLOYES 1,492
COMMENT
PC WHOLESALER,
OWNED BY DAIWABO HOLDINGS CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 9,863.6
MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established on the basis of a division separated
from Daiwabo Co Ltd, now Daiwabo Holdings Co Ltd (See REGISTRATION). This is a
trading firm specializing in import, export and wholesale of .PC’s &
peripherals, office automation machines, other.
Also develops PC software. Top-ranked
agency among NEC dealers. In March 2009,
the firm became a wholly owned subsidiary of Daiwa Co Ltd (now Daiwabo Holdings
Co Ltd) through the stock exchange, and renamed as captioned. At the same time delisted from Tokyo &
Osaka S/E’s. Clients include major
electronics & computer mfrs, nationwide.
FINANCIAL INFORMATION
Financials are consolidated by the parent, Daiwabo Holdings Co Ltd, and
disclosed in digested form.
The sales volume for Mar/2011 fiscal term amounted to Yen 388,200 million,
a 0.5% up from Yen 386,380 million in the previous term. Distribution Center in Sendai was partially
damaged and suspended operations for some time, but now resumed operations, as
reported. Supply was disrupted. The recurring profit was posted at Yen 5,041
million and the net profit at Yen 2,132 million respectively, compared with Yen
2,659 million recurring profit and Yen 1,235 million net profit, respectively,
a year ago.
For the current term ending Mar 2012 the recurring profit is projected at
Yen 5,200 million and the net profit at Yen 2,200 million, respectively, on a
6% rise in turnover, to Yen 411,000 million.
Mainstay IT equipment benefited from power savings in the first half and
terrestrial digital-related extraordinary demand.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 9,863.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1982
Regd No.: (Osaka-Chuoku) 083217
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
29 million shares
Issued:
23,626,000 shares
Sum: Yen 11,813
million
Major shareholders
(%):
Daiwabo Holdings Co Ltd*(100)
* Daiwabo Holdings
Co Ltd, medium-scale cotton spinner, Tokyo, founded 1941, listed Tokyo, Osaka
S/E’s, capital Yen 21,696 million, sales Yen 452,495 million, operating profit
Yen 6,141 million, recurring profit Yen 5,435 million, net profit Yen 1,401
million, total assets Yen 212,514 million, net worth Yen 39,643 million,
employees 6,010, pres Masaaki Sakaguchi
Consolidated Financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Wholesales &
retails PC’s & peripherals, PC software, office automation machines, other
(--98%), system integration (2%)
Clients: [Electronics
mfrs, wholesalers] Ricoh, Bic Camera, Canon Marketing Japan, Amazon. com, Fuji
Xerox, Hitachi Electronics Services, NEC Fielding, Yodobashi Camera, K’S
Holdings, other.
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hewlett-Packard Japan, NEC, Microsoft, Fujitsu Personals, Apple
Japan, Epson Sales, Toshiba Information Equipment, Microsoft Asia Ltd, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Osaka)
SMBC
(Bingomachi)
Relations:
Satisfactory.
FINANCIALS
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
411,000 |
388,220 |
386,390 |
374,592 |
|
Recur.
Profit |
|
5,200 |
5,041 |
2,659 |
3,230 |
|
Net
Profit |
|
2,200 |
2,132 |
1,235 |
1,561 |
|
Total
Assets |
|
|
130,414 |
137,794 |
123,847 |
|
Current
Assets |
|
|
112,887 |
119,612 |
104,586 |
|
Current
Liabs |
|
|
83,762 |
92,236 |
76,281 |
|
Net
Worth |
|
|
40,753 |
39,857 |
39,586 |
|
Capital,
Paid-Up |
|
|
11,813 |
11,813 |
11,813 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.87 |
0.47 |
3.15 |
-0.14 |
|
|
Current Ratio |
|
.. |
134.77 |
129.68 |
137.11 |
|
N.Worth Ratio |
.. |
31.25 |
28.93 |
31.96 |
|
|
R.Profit/Sales |
|
1.27 |
1.30 |
0.69 |
0.86 |
|
N.Profit/Sales |
0.54 |
0.55 |
0.32 |
0.42 |
|
|
Return On Equity |
.. |
5.23 |
3.10 |
3.94 |
|
Notes: Forecast (or estimated) figures for the
31/03/2012 fiscal term
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT,
DAIWABO HOLDINGS CO LTD
|
FINANCES: (Consolidated
in million yen) |
|
|||||
|
|
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
||
|
INCOME STATEMENT |
|
|
||||
|
|
Annual Sales |
|
452,495 |
448,970 |
||
|
|
Cost of Sales |
409,721 |
407,328 |
|||
|
|
GROSS PROFIT |
42,773 |
41,641 |
|||
|
|
Selling & Adm Costs |
36,631 |
36,629 |
|||
|
|
OPERATING PROFIT |
6,141 |
5,012 |
|||
|
|
Non-Operating P/L |
-706 |
-1,386 |
|||
|
|
RECURRING PROFIT |
5,435 |
3,626 |
|||
|
|
NET PROFIT |
1,403 |
1,454 |
|||
|
BALANCE SHEET |
|
|
|
|||
|
|
Cash |
|
15,262 |
7,021 |
||
|
|
Receivables |
|
89,672 |
96,279 |
||
|
|
Inventory |
|
26,723 |
21,214 |
||
|
|
Securities, Marketable |
|
|
|||
|
|
Other Current Assets |
12,271 |
12,121 |
|||
|
|
TOTAL CURRENT ASSETS |
143,928 |
136,635 |
|||
|
|
Property & Equipment |
46,187 |
40,437 |
|||
|
|
Intangibles |
|
12,529 |
10,291 |
||
|
|
Investments, Other Fixed Assets |
9,870 |
14,592 |
|||
|
|
TOTAL ASSETS |
212,514 |
201,955 |
|||
|
|
Payables |
|
87,842 |
93,986 |
||
|
|
Short-Term Bank Loans |
30,427 |
17,460 |
|||
|
|
|
|
|
|
||
|
|
Other Current Liabs |
11,632 |
10,335 |
|||
|
|
TOTAL CURRENT LIABS |
129,901 |
121,781 |
|||
|
|
Debentures |
|
|
500 |
||
|
|
Long-Term Bank Loans |
28,889 |
30,080 |
|||
|
|
Reserve for Retirement Allw |
5,157 |
4,465 |
|||
|
|
Other Debts |
|
8,924 |
8,575 |
||
|
|
TOTAL LIABILITIES |
172,871 |
165,401 |
|||
|
|
MINORITY INTERESTS |
|
|
|||
|
|
Common
stock |
21,696 |
21,696 |
|||
|
|
Additional
paid-in capital |
6,366 |
6,366 |
|||
|
|
Retained
earnings |
12,953 |
12,099 |
|||
|
|
Evaluation
p/l on investments/securities |
(324) |
(1,688) |
|||
|
|
Others |
|
(930) |
(1,866) |
||
|
|
Treasury
stock, at cost |
(118) |
(54) |
|||
|
|
TOTAL S/HOLDERS` EQUITY |
39,643 |
36,553 |
|||
|
|
TOTAL EQUITIES |
212,514 |
201,955 |
|||
|
CONSOLIDATED CASH FLOWS |
|
|
||||
|
|
|
Terms ending: |
31/03/2011 |
31/03/2010 |
||
|
|
Cash
Flows from Operating Activities |
|
4,284 |
5,314 |
||
|
|
Cash
Flows from Investment Activities |
-5,260 |
-1,617 |
|||
|
|
Cash
Flows from Financing Activities |
8,261 |
-3,892 |
|||
|
|
Cash,
Bank Deposits at the Term End |
|
13,723 |
6,611 |
||
|
ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
||||
|
|
|
Net Worth
(S/Holders' Equity) |
39,643 |
36,553 |
||
|
|
|
Current
Ratio (%) |
110.80 |
112.20 |
||
|
|
|
Net
Worth Ratio (%) |
18.65 |
18.10 |
||
|
|
|
Recurring
Profit Ratio (%) |
1.20 |
0.81 |
||
|
|
|
Net
Profit Ratio (%) |
0.31 |
0.32 |
||
|
|
|
Return
On Equity (%) |
3.54 |
3.98 |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.10 |
|
UK Pound |
1 |
Rs.81.30 |
|
Euro |
1 |
Rs.70.07 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.