MIRA INFORM REPORT
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Report Date : |
12.04.2012 |
IDENTIFICATION DETAILS
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Name : |
FXC INC |
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Registered Office : |
Komagata TC Bldg
9F, 1-3-14 Komagata Taitoku |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
January 2001 |
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Com. Reg. No.: |
0105-01-029351
(Tokyo-Taitoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Provider of network solutions: Ethernet switches, fiber
optic CWDM systems |
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No. of Employees
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44 |
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 18.1 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
FXC INC
FXC KK
Komagata TC Bldg
9F, 1-3-14 Komagata Taitoku
Tel:
03-5827-0760 Fax: 03-5827-0717
URL: http://www.fxc.jp/
E-Mail address: (thru the URL)
Provider
of network solutions: Ethernet switches, fiber optic CWDM systems
(subcontracted)
SHIGEYUKI
TANIWA, PRES
Ken’ichi Tabata, dir
Kazuhiro
Uchida, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen
672 M
PAYMENTS No
Complaints CAPITAL Yen 302 M
TREND SLOW WORTH Yen
327 M
STARTED 2001 EMPLOYES 44
PROVIDER OF NETWORK EQUIPMENT
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$600,000 / O/A 90 DAYS
MAX
CREDIT LIMIT: YEN 18.1 MILLION, 30 DAYS NORMAL TERMS.
The subject company was established by Shigeyuki Taniwa in order to make
most o his experience in the subject line of business. This is a trading firm, with mfg division,
for import, export and wholesale of network/multimedia equipment that includes
Layer 2 & Layer 3 Ethernet switches & fiber optic CWDM systems. Distributor of SMC Networks products in
The sales volume for Dec/2011 fiscal term amounted to Yen 672 million, a
26% down from Yen 903 million in the previous term. Demand decreased both at home &
abroad. High Yen hurt import/export
revenues & profits in Yen terms. The
operations plunged into the red to register Yen 81 million recurring loss and
Yen 80 million net losses, respectively, compared with Yen 14 million recurring
profit and Yen 10 million net profits, respectively, a year ago.
For the current term ending Dec 2012 the operations are projected to
come back to profitability to post Yen 20 million recurring profit and Yen 20
million net profit, respectively, on a 3% rise in turnover, to Yen 690
million. New business with a new client
is being worked out.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 18.1 million, on 30 days normal terms. The proposed amount for 90 days term is
considered well within the firm’s financial capacities.
Date Registered: Jan 2001
Regd No.: 0105-01-029351 (Tokyo-Taitoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
24,000 shares
Issued: 6,055 shares
Sum: Yen 302.76 million
Major shareholders (%): Shigeyuki Taniwa (30), Taiga-1
Investment (15), Technology Ventures Investment (10), NVCC Investment (10),
Satoru Kuwayama (5)
No. of shareholders: 38
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Imports, exports
and wholesales network/multi media equipment: management switches, Ethernet
switches, media converters, CWDM devices; provider of SMC Networks products in
(SMC Networks
products): CWDM “Light Edge” series, management switches, media converters, micro
MPEG4 recorder/player units, Ethernet switches, other.
Clients: [Electronic mfrs,
network firms] NTT Advance Technology, Net One Systems, Daiwabo Information
System, Sun Telephone, Mitsui Knowledge Ind, DNP Fine Electronics, Itochu
Techno Solutions, Fujitsu Business System, SoftBank BB, Daiwabo Information
Systems, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Repotec Co, Accton Technology Corp, Browave Corp, UDM International
Co, Packet Light Networks Ltd, Nobile Japan Ltd, Nitto Tsushinki, other.
Payment record: No
Complaints
Location:
Business area in
Bank References:
MUFG
(Nihombashi-Chuo)
Mizuho
Bank (Roppongi)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual
Sales |
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690 |
672 |
903 |
827 |
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Recur.
Profit |
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20 |
-81 |
14 |
29 |
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Net
Profit |
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20 |
-80 |
10 |
8 |
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Total
Assets |
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939 |
912 |
879 |
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Current
Assets |
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851 |
815 |
794 |
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Current
Liabs |
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230 |
232 |
312 |
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Net
Worth |
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327 |
407 |
397 |
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Capital,
Paid-Up |
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302 |
302 |
302 |
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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 |
2.68 |
-25.58 |
9.19 |
-9.22 |
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Current Ratio |
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.. |
370.00 |
351.29 |
254.49 |
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N.Worth Ratio |
.. |
34.82 |
44.63 |
45.16 |
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R.Profit/Sales |
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2.90 |
-12.05 |
1.55 |
3.51 |
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N.Profit/Sales |
2.90 |
-11.90 |
1.11 |
0.97 |
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Return On Equity |
.. |
-24.46 |
2.46 |
2.02 |
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Notes:
Financials are disclosed in digested form.
Forecast
(or estimated) figures for the 31/12/2012 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.51.55 |
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1 |
Rs.81.95 |
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Euro |
1 |
Rs.67.57 |
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.