MIRA INFORM REPORT

 

 

Report Date :           

24.11.2011

 

IDENTIFICATION DETAILS

 

Name :

SHINDEN HIGHTEX CORPORATION

 

 

Registered Office :

Minato Bldg 3F, 1-1-12 Minato Chuoku Tokyo 104-0043

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

June 1995

 

 

Com. Reg. No.:

(Tokyo-Chuoku) 094897

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesaler of LCDs, semiconductors, peripherals

 

 

No. of Employees :

96 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 510.1 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

 

SHINDEN HIGHTEX CORPORATION

 

 

REGD NAME 

 

Shinden Hightex KK

 

 

MAIN OFFICE

 

Minato Bldg 3F, 1-1-12 Minato Chuoku Tokyo 104-0043 JAPAN

 

Tel: 03-3537-0101     Fax: 03-3537-0202

*.. Moved to the caption address from the one as given

                       

URL:                             http://www.shinden.co.jp/

E-Mail address:                        info@shinden.co.jp

 

 

ACTIVITIES  

 

Import, wholesaler of LCDs, semiconductors, peripherals

 

 

BRANCHES

 

Osaka, Nagoya, Sendai, Kumagaya, Shizuoka, Nagano, Fukuoka, Kyoto, Fukuyama

 

 

OVERSEAS   

 

Shinden Hong Kong Ltd, Shinden-Hightex Korea Corp, Shinden Korea Techno Co, Shinden Singapore Pte Ltd, Shinden Trading (Shanghai) Co Ltd, Shinden (Thailand) Co Ltd (--subsidiaries)

 

 

FACTORIES  

 

(subcontracted)

 

OFFICER(S)  

 

TAMOTSU SHIROSHITA, PRES Susumu Kaizuka, ch

Atsushi Suzuki, mgn dir                         Toshikazu Saito, dir

Akira Tomizawa, dir                                Jun’ichi Nishimoto, dir                           

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 33,075 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 841 M

TREND             SLOW                          WORTH            Yen 2,154 M

STARTED                     1995                             EMPLOYES      96

 

 

COMMENT

 

IMPORTER AND WHOLESALER SPECIALIZING IN SEMICONDUCTORS AND PERIPHERALS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT  ENGAGEMENTS: US$50,000 / O/A 60 DAYS.

 

 MAX CREDIT LIMIT: YEN 510.1 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established by Susumu Kaizuka, now ch, in order to make most of his experience in the subject line of business.  This is a trading firm specializing in import and wholesale of semiconductors, LCD’s and peripherals.  Goods are imported from USA, China, Korea, other and shipped to major electronics mfrs nationwide.  Operates 6 overseas offices in China and other Asian countries, engaged in mfg of these products.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 33,075 million, a 38% up from Yen 33,906 million in the previous term.  Market revived from the global economic downturn.  Demand in China and other S/E Asian countries were robust.  Exports increased.  The recurring profit was posted at Yen 351 million and the net profit at Yen 130 million, respectively, compared with Yen 293 million recurring profit and Yen 288 million net profits, respectively, a year ago

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 370 million and the net profit at Yen 145 million, respectively, on a 6% rise in turnover, to Yen 35,000 million.  Exports continue increasing.  Production in China & Thailand are rising.  Demand is strong.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 510.1 million, on 30 days normal terms.  The proposed amount is considered well within the firm’s financial capacities.

 

 

REGISTRATION

 

Date Registered:  Jun 1995

Regd No.:         (Tokyo-Chuoku) 094897

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         27,200 shares

Issued:                8,010 shares

Sum:                   Yen 841 million

 

Major shareholders (%): Susumu Kaizuka (15.2), Employees’ S/Holding Assn (9.6),  Tamotsu Shiroshita (8.8), Masaru Kawai (5.3), Jafco V2 Joint Investment (4.9), SDS Investment (3.4)

 

No. of shareholders: 93

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

 

 

OPERATION

 

Activities: Imports and wholesales LCDs (28%), semiconductors (57%), electronics equipment (7%), others (8%).

 

Import/Export (26%)

 

Clients: [Electronics mfrs] Alps, Alpine, Brother, Canon, Citizen, Fanuc, Fuji Film, Fujitsu, Fuji Xerox, Ishida, JVC, Konica Minolta, Kyocera Mita, Nagano JRC, NEC, NJRC, Oki Data, Panasonic, Panasonic Communications, Renesas, Ricoh, Sanyo Electric, Seiko Epson, Sharp, Sony, TDK, Toshiba, Toshiba Tec, other.

            No. of accounts: 1,000

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Atmel, ADTEC, Amimon, Barun Electronics, Dongbu HiTek, EMLSI, Hynix, IBM, LG Display, LG Innotek, M&W, Magna Chip, Ramtron International, Sanyo, Smartrack Technology, Suti Soft, Synerchip, Transcend, WIN Semiconductor, other.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

·         MUFG (Nakameguro-Ekimae)

·         SMBC (Shibuya)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)        

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

35,000

33,075

23,906

64,029

Recur. Profit

　

370

351

293

114

Net Profit

　

145

130

288

-366

Total Assets

　

　

11,526

7,893

7,149

Current Assets

　

　

10,349

8,969

5,927

Current Liabs

　

　

7,511

5,733

4,867

Net Worth

　

　

2,154

2,030

1,746

Capital, Paid-Up

　

　

841

841

836

Div.P.Share(¥)

　

　

4000.00

2500.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.82

38.35

-62.66

-22.55

    Current Ratio

 

..

137.78

156.45

121.78

    N.Worth Ratio

..

18.69

25.72

24.42

    R.Profit/Sales

 

1.06

1.06

1.23

0.18

    N.Profit/Sales

0.41

0.39

1.20

-0.57

    Return On Equity

..

6.04

14.19

-20.96

 

Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

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%)

 

 

 

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.