MIRA
INFORM REPORT
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Report Date : |
18.10.2011 |
IDENTIFICATION DETAILS
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Name : |
HITACHI BUSINESS INTERNATIONAL LTD |
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Registered Office : |
NBF Ogawamachi Bldg, 1-3 Kanda-Ogawamachi
Chiyodaku Tokyo 101-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
April 1987 |
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Com. Reg. No.: |
(Tokyo-Bunkyoku) 027006 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of IT-related
equipment |
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 79.5 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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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 – 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 |
Name and address
HITACHI BUSINESS INTERNATIONAL LTD
REGD NAME: KK
Hitachi Kokusai Business
MAIN OFFICE: NBF
Ogawamachi Bldg, 1-3 Kanda-Ogawamachi Chiyodaku Tokyo 101-0052
Tel: 03-5259-5511 Fax: 03-5259-5519
URL: http://www.hitachi-hi.co.jp
E-Mail address: info@hitachi-hi.co.jp
ACTIVITIES
Import, export, wholesale
of IT-related equipment
BRANCHES
Tokyo, Yokohama
OFFICERS
MASAKAZU HAMADA,
PRES Mamoru Sasaki, dir
Akira Kamiichi,
dir Katsuhide
Tanigaki, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 10,446 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen
652 M
STARTED 1987 EMPLOYES 230
COMMENT
INTERNATIONAL TRADING, OWNED BY HITACHI LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 79.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established
on the basis of an international division separated from Hitachi Ltd (See REGISTRATION). This is a trading firm specializing in
import, export and wholesale of IT-related equipment, also offers marketing
research and translation services.
Clients are Hitachi Ltd and group firms.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal
term amounted to Yen 10,446 million, a 19% down from Yen 12,919 million in the
previous term, as affected by the global economic downturn. The recurring profit was posted at Yen 34
million and the net loss at Yen 55 million, compared with Yen 136 million
recurring profit and Yen 68 million net profit, respectively, a year ago.
For the term that ended Mar 2011 the
recurring profit was projected at Yen 35 million and the net profit at Yen 35
million, respectively, on a 3% rise in turnover, to Yen 10,800 million. Final results are yet to be released. The Great North Japan Earthquake may have
affected the sales performance.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 79.5 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Apr
1987
Regd No.:
(Tokyo-Bunkyoku) 027006
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,000 shares
Issued: 2,000 shares
Sum: Yen 10 million
Major
shareholders (%): Hitachi Ltd* (100)
*.. Largest comprehensive
mfr of electrical machinery, Tokyo, founded 1920, listed Tokyo, Osaka, Nagoya,
Fukuoka, Sapporo, New York S/E’s, capital Yen 408,818 million, sales Yen
9,315,807 million, operating profit Yen 444,508 million, recurring profit Yen
303,126 million, net profit Yen 238,869 million, employees 355,419, pres
Hiroaki Nakanishi, dir
Consolidated
Financials are attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales IT-related equipment & attachment; translation & market
research services, other (--100%)
Clients: [Mfrs,
wholesalers] Hitachi Ltd and group firms
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Hitachi Ltd (79%), Mitsubishi-Hitachi Metals Mfg Inc (4%), Hitachi Plant
Technology Inc (5%), other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (H/O)
Mizuho Corporate
Bank (Nihombashi)
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 |
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10,800 |
10,446 |
12,919 |
25,980 |
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Recur.
Profit |
|
35 |
34 |
136 |
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Net
Profit |
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35 |
-55 |
68 |
154 |
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Total
Assets |
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5,164 |
8,450 |
8,185 |
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Current
Assets |
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4,628 |
7,969 |
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Current
Liabs |
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4,104 |
7,444 |
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Net
Worth |
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652 |
710 |
1,120 |
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Capital,
Paid-Up |
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|
100 |
100 |
100 |
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Div.P.Share(¥) |
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165.00 |
285.00 |
330.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.39 |
-19.14 |
-50.27 |
-13.02 |
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Current Ratio |
|
.. |
112.77 |
107.05 |
.. |
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N.Worth Ratio |
.. |
12.63 |
8.40 |
13.68 |
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R.Profit/Sales |
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0.32 |
0.33 |
1.05 |
.. |
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N.Profit/Sales |
0.32 |
-0.53 |
0.53 |
0.59 |
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Return On Equity |
.. |
-8.44 |
9.58 |
13.75 |
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Notes: Forecast
(or estimated) figures for the 31/03/2011 fiscal term.
CONSOLIDATED FINANCIALS OF THE
PARENT, HITACHI LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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9,315,807 |
8,968,546 |
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Cost of Sales |
6,967,433 |
6,849,255 |
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GROSS PROFIT |
2,348,374 |
2,119,291 |
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Selling & Adm Costs |
1,903,866 |
1,917,132 |
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OPERATING PROFIT |
444,508 |
202,159 |
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Non-Operating P/L |
-12,307 |
-138,579 |
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RECURRING PROFIT |
432,201 |
63,580 |
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NET PROFIT |
238,869 |
-106,961 |
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BALANCE SHEET |
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Cash |
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554,810 |
577,584 |
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Receivables |
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1,990,225 |
2,138,219 |
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Inventory |
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1,341,768 |
1,222,077 |
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Securities, Marketable |
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Other Current Assets |
1,013,226 |
837,317 |
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TOTAL CURRENT ASSETS |
4,900,029 |
4,775,197 |
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Property & Equipment |
2,111,270 |
2,219,804 |
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Intangibles |
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528,018 |
518,050 |
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Investments, Other Fixed Assets |
1,646,312 |
1,451,413 |
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TOTAL ASSETS |
9,185,629 |
8,964,464 |
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Payables |
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1,236,758 |
1,229,546 |
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Short-Term Bank Loans |
810,806 |
755,181 |
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Other Current Liabs |
2,041,260 |
1,946,476 |
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TOTAL CURRENT LIABS |
4,088,824 |
3,931,203 |
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Debentures |
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Long-Term Bank Loans |
1,300,311 |
1,611,962 |
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Reserve for Retirement Allw |
891,815 |
905,183 |
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Other Debts |
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463,290 |
248,271 |
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TOTAL LIABILITIES |
6,744,240 |
6,696,619 |
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MINORITY INTERESTS |
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Common
stock |
409,129 |
408,810 |
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Additional
paid-in capital |
603,129 |
620,577 |
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Retained
earnings |
92,036 |
713,479 |
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Evaluation
p/l on investments/securities |
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Others |
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1,338,466 |
551,130 |
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Treasury
stock, at cost |
(1,371) |
(26,151) |
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TOTAL S/HOLDERS` EQUITY |
2,441,389 |
2,267,845 |
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TOTAL EQUITIES |
9,185,629 |
8,964,464 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2011 |
31/03/2010 |
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Cash
Flows from Operating Activities |
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841,554 |
798,299 |
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Cash
Flows from Investment Activities |
-260,346 |
-530,595 |
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Cash
Flows from Financing Activities |
-584,176 |
-502,344 |
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Cash,
Bank Deposits at the Term End |
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554,810 |
577,584 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
2,441,389 |
2,267,845 |
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Current
Ratio (%) |
119.84 |
121.47 |
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Net
Worth Ratio (%) |
26.58 |
25.30 |
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Recurring
Profit Ratio (%) |
4.64 |
0.71 |
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Net
Profit Ratio (%) |
2.56 |
-1.19 |
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Return
On Equity (%) |
9.78 |
-4.72 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.89 |
|
|
1 |
Rs.77.31 |
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Euro |
1 |
Rs.67.79 |
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 |
|
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.