MIRA INFORM REPORT
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Report Date : |
29.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ORION ELECTRIC CO LTD |
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Registered Office : |
41-1 Iehisacho Echizen City Fukui-Pref
915-0801 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
March 1958 |
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Com. Reg. No.: |
2100-01-011533 (Fukui-Echizen) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of LCD/LED TV’s and attachments |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 1,277.4 Million |
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Status : |
Satisfactory |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
ORION ELECTRIC CO LTD
REGD NAME
Orion Denki KK
MAIN OFFICE
41-1 Iehisacho Echizen
City Fukui-Pref 915-0801 JAPAN
Tel:
0778-23-0001 Fax: 0778-24-5518
URL: http://www.orion-electric.co.jp
E-Mail address: webmaster@orion-electric.co.jp
ACTIVITIES
Mfg of
LCD/LED TV’s and attachments
BRANCHES
Osaka
(international trading division)
OVERSEAS
China, Thailand (3), Korea (2), UK, USA, Poland (--factories)
FACTORIES
At the
caption address, Ishikawa
OFFICERS
HIDEYUKI
YANO, PRES Yuichi
Tamiya, dir
Takao
Nagata, dir Takashi
Hirama, dir
Fujio
Otake, dir Hiroshi
Tanaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 70,000 M
PAYMENTS REGULAR CAPITAL Yen 95 M
TREND STEADY WORTH Yen
1,065 M
STARTED 1958 EMPLOYES 444
COMMENT
MFR OF LCD/LED TV’S.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,277.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by father of Hideyuki Yano in order
to make most of his experience in the subject line of business. This is a specialized mfr of LCD/LED TV’s and
peripherals. Goods are manufactured at
its own domestic yards as well as widely in the domestic subsidiary makers:
China, Thailand, Korea, UK, USA and Poland.
Aggressively expanding to overseas markets. Domestic clients include electronic makers and
group firms. Operates four subsidiaries
domestically: Orion Solar Engineering Co Ltd, Orion Electronics Co Ltd, Orion
Engineering Co Ltd and Orion Electric (Kaga) Co Ltd.
.
FINANCIAL INFORMATION
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Mar/2011 fiscal term amounted to Yen 70,000
million, a 3% up from Yen 68,300 million in the previous term. Demand was robust in China and other S/E
Asian countries. The recurring profit
was posted at Yen 350 million and the net profit at Yen 50 million,
respectively, compared with Yen 50 million recurring profit and Yen 50 million
net profit, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 360 million and the net profit at Yen 60 million, respectively, on a 5%
rise in turnover, to Yen 73,000 million. Overseas expansion continues.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,277.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar 1958
Regd No.: 2100-01-011533 (Fukui-Echizen)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
760,000 shares
Issued: 212,160 shares
Sum: Yen 95 million
Major shareholders (%): Hideyuki Yano & families, group
firms
No. of shareholders: 15
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
LCD/LED TV’s & peripherals (--100%).
Goods are manufactured at domestic and overseas subsidiary makers.
(Mfg items): LCD/LED TV’s,
plasma TV’s, Blu-ray, portable battery, digital TV tuners, DVD/BD video
recorders, digital video players, DVD/BD deck, optical pick-up assembly, other
Clients: [Mfrs,
wholesalers] Doshisha Corp, Orion Electric Kaga, Orion Electric UK, Orion
America Inc, World Electric Thailand, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Panasonic Electronic Device, Toshiba Corp, Sanyo Electric, Mitsubishi
Electric Corp, Hitachi Ltd, other.
Payment record: Regular
Location:
Business area in Echizen City, Fukui-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
MUFG
(Osaka-Chuo)
SMBC
(Osaka)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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73,000 |
70,000 |
68,300 |
60,700 |
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Recur.
Profit |
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360 |
350 |
50 |
500 |
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Net
Profit |
|
60 |
50 |
50 |
-30 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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1,065 |
1,015 |
965 |
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Capital,
Paid-Up |
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95 |
95 |
95 |
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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 |
4.29 |
2.49 |
12.52 |
-7.47 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.08 |
0.07 |
0.07 |
-0.05 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.82 |
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UK Pound |
1 |
Rs.78.57 |
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Euro |
1 |
Rs.69.29 |
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.