MIRA INFORM REPORT

 

 

Report Date :

18.04.2012

 

IDENTIFICATION DETAILS

 

Name :

HONDA ELECTRONICS CO LTD

 

 

Registered Office :

1-23-19 Asahicho Machida Tokyo-Metrop 194-0023

 

 

Country :

Japan

 

 

Financials (as on) :

31.05.2011

 

 

Date of Incorporation :

December 1968

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Mfg of automatic door sensors

 

 

No. of Employees :

45

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 30.7 Million

Status :

Satisfactory

Payment Behaviour :

No Complaints

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

HONDA ELECTRONICS CO LTD

REGD NAME:    KK Honda Denshi Giken

MAIN OFFICE:  1-23-19 Asahicho Machida Tokyo-Metrop 194-0023 JAPAN

Tel: 042-725-1911     

Fax: 042-729-1424

                                               

URL:                 http://www.honda-elec.com

E-Mail address: (thru the Ural)

 

 

ACTIVITIES

 

Mfg of automatic door sensors

 

BRANCHES   

 

Tokyo

 

FACTORIES  

 

At the caption address

 

 

OFFICERS

 

TADAMORI HONDA, PRES

                        Kazuhiro Matsuo, dir

                        Masanao Sakamoto, dir                                                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 1,561 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 45 M

TREND             SLOW                          WORTH            Yen 736 M

STARTED                     1968                             EMPLOYES      45

 

COMMENT

 

MFR OF AUTOMATIC DOOR SENSORSFR OF AUTOMATIC DOOR ENSORS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 30.7 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established on the basis of a division separated from Hotron Co Ltd, wholesaler of automatic door sensors.  Tadamori Honda is concurrently pres at the parent.  This is a specialized mfr of automatic door sensors.  Tope in the line of wireless touch automatic door sensors.  Goods are wholly supplied to Hotron Co Ltd for distribution nationwide.

 

 

FINANCIAL INFORMATION

           

            The sales volume for May/2011 fiscal term amounted to Yen 1,561 million, an almost similar amount in the previous term.  The net profit was posted at Yen 8 million, compared with Yen 80 million net losses a year ago.

 

            For the current term ending May 2012 the net profit is projected at Yen 10 million, on a 3% rise in turnover, to Yen 1,600 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 30.7 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Dec 1968

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         360,000 shares

Issued:                90,000 shares

Sum:                   Yen 45 million

Major shareholders (%): Tadamori Honda (majority owned)

No. of shareholders: 3

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

 

 

 

 

 

OPERATION

 

Activities: Manufactures automatic door sensors (100%)

Clients: [Wholesaler] Wholly supplied to Hotron Co Ltd

No. of accounts: 1

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Renesas Easton Co, Suiko Jushi Co, Masuda Kogyo, other

Imports from Taiwan

Payment record: No Complaints

 

Location: Business area in Machida.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

MUFG (Toranomon)

SMBC (Jiyugaoka)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/05/2012

31/05/2011

31/05/2010

31/05/2009

Annual Sales

　

1,600

1,561

1,560

1,795

Recur. Profit

　

　

　

　

　

Net Profit

　

10

8

-80

90

Total Assets

　

　

2,236

2,464

2,395

Current Assets

　

　

812

988

948

Current Liabs

　

　

574

599

512

Net Worth

　

　

736

728

816

Capital, Paid-Up

　

　

45

45

45

Div.P.Share(₯)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.50

0.06

-13.09

-17.70

    Current Ratio

 

..

141.46

164.94

185.16

    N.Worth Ratio

..

32.92

29.55

34.07

    R.Profit/Sales

 

..

..

..

..

    N.Profit/Sales

0.63

0.51

-5.13

5.01

    Return On Equity

..

1.09

-10.99

11.03

 

Notes: Forecast (or estimated) figures for the 31/05/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.62

UK Pound

1

Rs.81.94

Euro

1

Rs.67.65

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

--

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.