MIRA INFORM REPORT

 

 

Report Date :

26.04.2012

 

IDENTIFICATION DETAILS

 

Name :

LITHIUM ENERGY JAPAN

 

 

Registered Office :

1 Inobabacho Nishinosho Kisshoin Minamiku Kyoto

 

 

Country :

Japan

 

 

Financials (as on) :

December 2007

 

 

Date of Incorporation :

31.03.2012

 

 

Com. Reg. No.:

1300-01-031213 (Kyoto-Minamiku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of lithium-ion batteries

 

 

No. of Employees :

100

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct 

 

 

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

 

LITHIUM ENERGY JAPAN

 

 

REGD NAME

 

KK Lithium Energy Japan

 

 

MAIN OFFICE

 

780-1 Ritto Shiga-Pref 520-3-21 JAPAN

 

Tel: 077-551-4003      Fax: 077-551-4061

 

*.. Registered at: 1Inobabacho Nishinosho Kisshoin Minamiku Kyoto

                                               

URL:                             http://www.lithiumenergy.jp

E-Mail address:            (thru the URL)

 

 

ACTIVITIES  

 

Mfg of lithium-ion batteries

 

 

BRANCHES

 

Kyoto

 

 

FACTORIES  

 

Kusatsu, Kyoto

 

 

OFFICERS

KATSUYUKI ONO, PRES                       Michiya Nakajima, v pres

Kei Nishida, dir                          Akinobu Ogata, dir

Teruhiro Hatanaka, dir                Yutaka Kashiwagi, dir                            

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                 A/SALES          Yen 11,801 M

PAYMENTS      REGULAR         CAPITAL           Yen 13,500 M

TREND             UP                    WORTH            Yen 15,155 M

STARTED                     2007                 EMPLOYES      100

 

 

COMMENT

 

MFR OF LITHIUM-ION BATTERIES.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established jointly by three parties: GS Yuasa Corp, Mitsubishi Corp and Mitsubishi Motors Corp.  This is a specialized mfr of large-size lithium-ion batteries.  Production steadily increased: in Jul 2011 Mitsubishi Motors selected batteries for new MiEV High-end Model; in Dec 2011 commenced work on large automotive lithium-ion batteries.  Clients include Mitsubishi Motors, GS Yuasa Corp, other.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 11,801 million, a 188% leap from Yen 4,100 million in the previous term.  Production of large lithium-ion batteries increased with factory capacities enlarged.  The operations continued in the red to register Yen 536 million recurring loss and Yen 694 million net losses, respectively, compared with Yen 123 million recurring loss and Yen 128 million net losses, respectively, a year ago.  Heavy investment costs ate into profits.

 

For the term that ended Mar 2012 the operations were projected to come back to profitability but still limited to a minimum amount post-taxes, on a 10% rise in turnover, to Yen 13,000 million.  Business is steadily and steeply expanding.  Final results are yet to be released.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Dec 2007

Regd No.:         1300-01-031213 (Kyoto-Minamiku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         1 million shares

Issued:                270,000 shares

Sum:                   Yen 13,500 million

Major shareholders (%): GS Yuasa Corp (51), Mitsubishi Corp (44.6), Mitsubishi Motors (4.4)

 

No. of shareholders: 3

 

*.. GS Yuasa Corp, holding company set up thru consolidation of Yuasa Corp and Japan storage Battery in 2004, Kyoto, listed Tokyo S/E, capital Yen 33,021 million, sales Yen 272,514 million, operating profit Yen 17,589 million, recurring profit Yen 17,513 million, net profit Yen 11,722 million, total assets Yen 247,446 million, net worth Yen 122,310 million, employees 12,394, pres Makoto Yodai

 

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

 

 

OPERATION

           

Activities: Manufactures lithium-ion batteries (100%)

 

Clients: [Mfrs, wholesalers] Mitsubishi Motors Corp, GS Yuasa Corp, other

            No. of accounts: 5 (distributed thru GS Yuasa Corp and Mitsubishi Corp)

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] GS Yuasa Corp, Mitsubishi Corp, other

 

Payment record: Regular

 

Location: Business area in Ritto City, Shiga-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

MUFG (Kyoto-Chuo)

SMBC (Kyoto)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

13,000

11,801

4,100

199

Recur. Profit

　

0

-536

-123

-849

Net Profit

　

0

-694

-128

-851

Total Assets

　

　

22,181

10,492

4,342

Current Assets

　

　

10,616

6,221

2,075

Current Liabs

　

　

7,025

3,642

1,364

Net Worth

　

　

15,155

6,849

2,978

Capital, Paid-Up

　

　

13,500

13,500

13,500

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

10.16

187.83    

1,960.30

-          - -

    Current Ratio

 

..

151.12

170.81

152.13

    N.Worth Ratio

..

68.32

65.28

68.59

    R.Profit/Sales

 

0.00

-4.54

-3.00

-426.63

    N.Profit/Sales

0.00

-5.88

-3.12

-427.64

    Return On Equity

..

-4.58

-1.86

..

 

Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.49

UK Pound

1

Rs.84.66

Euro

1

Rs.69.25

 

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

 

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.