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Report Date : |
14.04.2012 |
IDENTIFICATION DETAILS
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Name : |
COMTECS CO LTD |
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Registered Office : |
Ozawa Nishigotanda Bldg 8F, 8-1-10 Nishigotanda Shinagawaku |
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Country : |
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Financials (as on) : |
31.05.2011 |
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Year of Establishment : |
1983 |
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Com. Reg. No.: |
0107-01-003457 (Tokyo-Shinagawaku) |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Import,
wholesale of system devices, PC peripherals |
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No. of Employees : |
09 |
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 : |
US$50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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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 30, 2011
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
COMTECS CO LTD
REGD NAME: KK Comtecs
MAIN OFFICE: Ozawa
Nishigotanda Bldg 8F, 8-1-10 Nishigotanda
Shinagawaku Tokyo 141-0031
Tel:
03-5759-5111 Fax: 03-5759-5115
Moved to the caption address in Oct 2010 from
the former at: SDI Gotanda Bldg,
7-13-6 Nishigotanda Shinagawaku Tokyo, as given
URL: http://www.comtecs.co.jp/
E-Mail address: sales@comtecs.co.jp
Import,
wholesale of system devices, PC peripherals
Kyoto
(lab)
MAKOTO
MIYAISHI, PRES
Tomoaki Asahi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 492 M
PAYMENTS SLOW
CAPITAL Yen 40 M
TREND SLOW WORTH Yen
154 M
STARTED 1983 EMPLOYES 9
IMPORTER & WHOLESALER SPECIALIZING IN SYSTEM DEVICE
& PC PERIPHERALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$50,000 / O/A 45 DAYS.
MAX CREDIT
LIMIT: YEN 6.5 MILLION, 30 DAYS NORMAL TERMS.
The subject company was established by Makoto Miyaishi in order to make most of his experience in the
subject line of business. His is a
trading firm for import and wholesale of electronics components & systems:
system devices, PC’s, PC peripherals, other.
Goods are mostly imported from Taiwan & USA, as agent. Clients include electronics mfrs, wholesalers,
other, nationwide.
The sales volume for May/2011 fiscal term amounted to Yen
492 million, a 27% down from Yen 671 million in the previous term. Demand decreased substantially. High Yen hurt sales in Yen terms. The operations continued in the red to post
Yen 27 million recurring loss and Yen 28 million net losses, respectively,
compared with Yen 18 million recurring loss and Yen 37 million net losses,
respectively, a year ago. Foreign
currency exchange losses are included as extraordinary losses.
For the current term ending May 2012 the operations are
projected to come back to profitability to post Yen 10 million recurring profit
and Yen 10 million net profit, respectively, on a 4% rise in turnover, to Yen
510 million. Demand is seen recovering. Yen’s hike may still hurt sales & profits
in Yen terms.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 6.5 million, on 30 days normal terms. The proposed amount for 45 days terms is
considered within the firm’s financial capacities.
Date Registered: May 1983
Regd No.: 0107-01-003457 (Tokyo-Shinagawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
3,200 shares
Issued:
800 shares
Sum: Yen 40 million
Major shareholders (%): Makoto Miyaishi
(70.7), Yuji Kishi (25), Hiroyuki Yamamoto (2.5), Tomoaki Asahi (1), Yuko Miyaishi
(0.8)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales electronics
components & systems: Raid subsystem, network cluster storage, touch panel
PC, motherboard, PC’s, switches, UPS, LCD monitor, other (--100%).
Clients: [Electronics mfrs, wholesalers] Teraoka Seiko Co, Mars Engineering, Nihon Kohden Corp, Amano Corp, Fukuda Electronics, Mitsubishi
Electric, Nippon Computing System, CTC AB, Advantest, Graphtec Corp, Digi I’s Corp, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Skynet Electronics, AAEON Technology, ARBOR Technology, Chi
Mei Optoelectronics, Proware
Technology, Bearmtech Electronics (--Taiwan), Takram USA, Panasas Inc (--USA),
INTAS (Korea), other.
Domestically supplied from: Oki
Semiconductors, Omni Vision Technologies, Nicom
Technology, Asahi Kasei Microsystems, other.
Payment record: Slow
Location:
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Tokyo
City Shinkin Bank (H/O)
Mizuho
Bank (Gotanda)
Relations:
Satisfactory
|
Terms Ending: |
31/05/2012 |
31/05/2011 |
31/05/2010 |
31/05/2009 |
|
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Annual
Sales |
|
510 |
492 |
671 |
817 |
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Recur.
Profit |
|
10 |
-27 |
-18 |
2 |
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Net
Profit |
|
10 |
-28 |
-37 |
2 |
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Total
Assets |
|
|
760 |
765 |
883 |
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Current
Assets |
|
|
696 |
699 |
792 |
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Current
Liabs |
|
|
153 |
127 |
186 |
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Net
Worth |
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|
154 |
184 |
221 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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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 |
3.66 |
-26.68 |
-17.87 |
-26.73 |
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Current Ratio |
|
.. |
454.90 |
550.39 |
425.81 |
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N.Worth Ratio |
.. |
20.26 |
24.05 |
25.03 |
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R.Profit/Sales |
|
1.96 |
-5.49 |
-2.68 |
0.24 |
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N.Profit/Sales |
1.96 |
-5.69 |
-5.51 |
0.24 |
|
|
Return On Equity |
.. |
-18.18 |
-20.11 |
0.90 |
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Notes:
Forecast (or estimated) figures for the 31/05/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.41 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.66 |
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 |
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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 |
---- |
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.