MIRA INFORM REPORT
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Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
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Name : |
CORE MICRO SYSTEMS INC |
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Registered Office : |
Wacoal Kanamemachi Bldg 9F, 11-2 Nakamarucho Itabashiku Tokyo 173-0026, |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
October
1992 |
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Legal Form : |
Limited Company |
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Line of Business : |
Data Storage Systems Development |
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 2.2 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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Litigation : |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
CORE MICRO SYSTEMS INC
REGD NAME
Core Micro Systems
KK
MAIN OFFICE
Wacoal Kanamemachi
Bldg 9F, 11-2 Nakamarucho Itabashiku Tokyo 173-0026, JAPAN
Tel:
03-5917-6451 Fax: 03-5917-6452
*.. Moved to the caption address from the one as given
E-Mail address: (thru the URL)
ACTIVITIES
Data
storage systems development
BRANCHES
Nil
OFFICERS
SHOZO
TAKAHASHI, PRES
Mitsuo
Asai, dir
Hiroshi
Kitayama, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 342 M
PAYMENTS REGULAR CAPITAL Yen 153 M
TREND SLOW WORTH Yen
52 M
STARTED 1992 EMPLOYES 18
COMMENT
DATA
STORAGE SYSTEMS DEVELOPER.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 2.2
MILLION, 30 DAYS NORMAL TERMS. RECOMMEND
SECURED TERMS ON
NEW
TRANSACTIONS. NET WORTH IS AT YEN 52
MILLION VERSUS PAID-UP CAPITAL YEN 153 MILLION.
HIGHLIGHTS
The subject company was established by Shozo Takahashi in order to make most of his experience in the subject line of business. This is a data storage systems developer (See OPERATION). Has many business tie-ups with US and Taiwan companies. Domestic clients include major electronics companies, data solutions firms, other, nationwide.
FINANCIAL INFORMATION
Financial were only partially disclosed until Mar/2011 fiscal term when financials are disclosed in digest forms.
The sales volume for Mar/2011 fiscal term amounted to Yen 342 million, a 41% up from Yen 243 million in the previous term. This is largely thanks to expansion of clients into large companies. No further details are disclosed. The recurring profit was posted at Yen 54 million and the net profit at Yen 17 million, respectively, compared with Yen 10 million net losses a year ago.
For the current term ending Mar 2012 the recurring profit is projected at Yen 55 million and the net profit at Yen 20 million, respective, on a 5% rise in turnover, to Yen 360 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 2.2 million, on 30 days normal terms.
We strongly recommend fully secured terms on new transactions. Net Worth is at Yen 2.2 million versus the paid-in Capital at Yen 153 million.
REGISTRATION
Date Registered: Oct 1992
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
12,000 shares
Issued:
3,060 shares
Sum: Yen 153 million
Major shareholders (%): Shozo Takahashi (59), Masamichi
Fukushima (4), Yutron Co Ltd (3)
No. of shareholders: Unavailable
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Data storage systems development (100%)
(Data Storage): Super storage (Solid STOR, super RAID II, super SSD, super CACHE); Unified storage (prime STOR ZES, Prime GATE ZFS): Backup Storage (PC SAFE, Data SAFE); Windows NAS Storage (Net filer series, net clu STOR)
Clients: [Mfrs, wholesalers] NTT Data Corp, Mitsubishi Electric, Mitsui Knowledge Ind, Honda R&D Co, NS Solutions Corp, Canon Inc, Quality Soft Corp, Sony PCL, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Servants International, INFORTREND, MITAC, T-Win, NEXENTA, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
· SMBC (Hamamatsucho)
· MUFG (Gotanda)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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360 |
342 |
243 |
401 |
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Recur.
Profit |
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55 |
54 |
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Net
Profit |
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20 |
17 |
-10 |
38 |
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Total
Assets |
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488 |
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Current
Assets |
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335 |
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Current
Liabs |
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240 |
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Net
Worth |
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52 |
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Capital,
Paid-Up |
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153 |
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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 |
5.26 |
40.74 |
-39.40 |
-19.80 |
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Current Ratio |
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139.58 |
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.. |
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N.Worth Ratio |
.. |
10.66 |
.. |
.. |
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R.Profit/Sales |
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15.28 |
15.79 |
.. |
.. |
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N.Profit/Sales |
5.56 |
4.97 |
-4.12 |
9.48 |
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Notes: Financials are disclosed for the first time in digest
forms for 31/03/2011 fiscal term. Until
then they were only partially disclosed, only sales amount and profit/loss
figures.
Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.14 |
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UK Pound |
1 |
Rs.75.97 |
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Euro |
1 |
Rs.65.99 |
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 |
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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.