MIRA INFORM REPORT

 

 

Report Date :

18.04.2012

 

IDENTIFICATION DETAILS

 

Name :

LOGITEC INA SOLUTIONS CO LTD

 

 

Registered Office :

3268-1000 Misuzu Ina City Nagano-Pref 396-0001

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

October 2010

 

 

Com. Reg. No.:

 (Nagano-Ina) 023959

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of PC’s, peripherals, software

 

 

No. of Employees :

65

 

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 14.3 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

 

LOGITEC INA SOLUTIONS CO LTD

REGD NAME:    Logitec Ina Solutions KK

MAIN OFFICE:  3268-1000 Misuzu Ina City Nagano-Pref 396-0001 JAPAN

Tel: 0265-74-1411    

 

URL:                 http//:www.logitec-inas.co.jp

E-mail:             (thru the URL)   

 

 

ACTIVITIES

 

Mfg of PC’s, peripherals, software

 

BRANCHES   

 

Tokyo

 

FACTORIES

 

At the caption address

 

 

OFFICER(S)  

 

JUNJI HADA, PRES                   Koji Kajiura, dir

Shun’ichi Hirasawa, dir               Osamu Shintaku, dir

Masaki Tanaka, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 1,456 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 100 M

TREND             UP                                WORTH            Yen 181 M

STARTED                     2010                             EMPLOYES      65

                       

COMMENT

 

MFR OF PC’S & PERIPHERALS, WHOLLY OWNED BY LOGITEC CORP. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMNTS.

 

MAX CREDIT LIMIT: YEN 14.3 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

           

            The subject company was established on the basis of Nagano Factory of Logitec Corporation separated as an independent entity.  All members of Nagano Factory moved to the new company.  Junji Hada is concurrently pres at the parent.  Executives are all the same with the parent.  Operations started in Apr 2011.  This is a specialized mfr of PC’s & peripherals, networking equipment, software, other.  Goods are all shipped to the parent. 

 

 

FINANCIAL INFORMATION

 

            The sales volume for Sept/2011 fiscal term for virtually the initial term amounted to Yen 1,456 million.  The recurring profit was posted at Yen 175 million and the net profit at yen 92 million. 

 

            For the current term ending Sept 2012 the recurring profit is projected at Yen 1,500 million and the net profit at yen 95 million, respectively, compared with Yen 175 million recurring profit and Yen 95 million net profit, respectively, a year ago.

           

  Financial situation considered FAIR and good for ORDINARY business engagements. Both the Max credit limit is estimated at Yen 14.3 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Oct 2010

Regd No.:        (Nagano-Ina) 023959

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　8,000 shares

Issued:             　2,000 shares

Sum:                　Yen 100 million

Major shareholders (%): Logitec Corp* (100)

 

*.. Mfr of networking equipment, storage products, PC’s & peripherals, Tokyo, founded

1992, capital Yen 200 million, sales Yen 7,703 million, net profits Yen 368 million, employees 30, pres Junji Hada, concurrently

 

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

 

 

OPERATION

 

Activities: Manufactures PC’s & peripherals, software, other (--100%)

 

Clients: [Mfr, wholesalers] Elecom Corp, Hitachi High Technologies, other

No. of accounts: 5

Domestic areas of activities: Centered in Nagano-Pref

Suppliers [Mfrs, wholesalers] Takebishi Corp, Toyo Electro Co, other.

 

Payment record: No Complaints

 

Location: Business area in Ina City, Nagano=pref.  Office premises at the caption address are owned by the parent, Logitec Corp, and maintained satisfactorily.

 

Bank References:

SMBC (Bingomachi)

MUFG (Osaka-Chuo)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

30/09/2012

30/09/2011

31/03/2011

Annual Sales

　

1,500

1,456

0

Recur. Profit

　

180

175

　

Net Profit

　

95

92

-1

Total Assets

　

　

1,109

198

Current Assets

　

　

1,059

198

Current Liabs

　

　

826

1

Net Worth

　

　

181

198

Capital, Paid-Up

　

　

100

100

Div.P.Share(¥)

　

　

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

    S.Growth Rate

3.02

    　　　- - -

..

    Current Ratio

 

..

128.21

19,800.00

    N.Worth Ratio

..

16.32

100.00

    R.Profit/Sales

 

12.00

12.02

..

    N.Profit/Sales

6.33

6.32

 

    Return On Equity

..

50.83

-0.51

 

Notes: Forecast (or estimated) figures for the 30/09/2012 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.