MIRA INFORM REPORT

 

 

Report Date :           

27.04.2012

 

IDENTIFICATION DETAILS

 

Name :

SONY ENERGY DEVICES CORPORATION

 

 

Registered Office :

1-1 Shimosugishita Takakura Hiwadamachi Koriyama Fukushima-Pref 063-0531

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

February 1975

 

 

Com. Reg. No.:

3800-01-007199 (Fukushima-Koriyama)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of lithium-ion batteries

 

 

No. of Employees :

2172

 

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

 

SONY ENERGY DEVICES CORPORATION

 

 

REGD NAME

 

Sony Energy Devices KK

 

 

MAIN OFFICE

 

1-1 Shimosugishita Takakura Hiwadamachi Koriyama Fukushima-Pref 063-0531 JAPAN

Tel: 024-958-3811    

                                               

URL:                 http://www.sonyenergy-device.co.jp

E-Mail address:            (thru the URL)

 

 

ACTIVITIES  

 

Mfg of lithium-ion batteries

 

 

BRANCHES

 

Tokyo

 

 

OVERSEAS

 

China, Singapore

 

 

FACTORIES

 

At the caption address, Tochigi, Motomiya, Kanuma

OFFICERS

 

SHIN’ICHI TANEMO, PRES                                                       

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                 A/SALES          Yen 182,043 M

PAYMENTS      REGULAR         CAPITAL           Yen 2,200 M

TREND SLOW              WORTH            Yen 1,043 M

STARTED         1975                 EMPLOYES      2,172

 

 

COMMENT

 

MFR OF LITHIUM-ION BATTERIES, OWNED BY SONY CORP.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established originally as a JV between Sony Corp and Union Carbide for making batteries.  In 1986 Sony Corp bought the share of Union Carbide and the firm became a wholly owned subsidiary of Sony Corp (See REGISTRATION).  This is a specialized mfr of lithium-ion batteries.

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 182,043 million, a similar amount in the previous term.  The operations plunged into the red to register Yen 3,677 million recurring loss and Yen 13,709 million net losses, respectively, compared with Yen 3,337 million recurring profit and Yen 683 million net profit, respectively, a year ago.

 

For the term just ended Mar 2012 the operations were projected to come back to profitability but still limited to a minimum amount post-taxes, on a 2% rise in turnover, to Yen 185,000 million.  Final results are yet to be released.

 

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


 

REGISTRATION

 

Date Registered:  Feb 1975

Regd No.:         3800-01-007199 (Fukushima-Koriyama)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         220,000 shares

Issued:    220,000 shares

Sum:                   Yen 2,200 million

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

 

*..Mfr of consumer electronics, world’s largest in audio & video equipment, Tokyo, founded 1946, listed Tokyo, Osaka, New York, London S/E’s, capital 630,923 million, sales Yen  7,181,273 million, operating profit Yen  199,821 million, recurring profit Yen 205,013 million, net loss Yen 259,585 million, total assets Yen 12,916,000 million, net worth Yen 2,227,584 million, employees a68,200, pres Kazuo Hirai Consolidated Financials are attached (See SUPPLEMENTS)

 

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

 

 

OPERATION

           

Activities: Manufactures lithium-ion batteries, other (--100%)

 

Clients: [Mfrs, wholesalers] Sony Corp, Toshiba Corp, Renovo Japan, Hewlett-Packard Japan, Dell, other

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Sony Corp & group firms, Dowa Electronics, Okaya & Co, Metal Mining, other.

 

Payment record: Regular

 

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

 

Bank References:

SMBC (H/O)

Toho Bank (H/O)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

185,000

182,043

182,049

202,222

Recur. Profit

　

0

-3,677

3,337

-846

Net Profit

　

0

-13,709

683

-2,215

Total Assets

　

　

83,428

89,278

74,359

Current Assets

　

　

33,365

44,560

34,939

Current Liabs

　

　

77,053

70,050

55,744

Net Worth

　

　

1,043

14,123

13,439

Capital, Paid-Up

　

　

2,200

2,200

2,200

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

1.62

0.00

-9.98

-5.21

    Current Ratio

 

..

43.30

63.61

62.68

    N.Worth Ratio

..

1.25

15.82

18.07

    R.Profit/Sales

 

0.00

-2.02

1.83

-0.42

    N.Profit/Sales

0.00

-7.53

0.38

-1.10

    Return On Equity

..

..

4.84

-16.48

 

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

 

 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, SONY CORP

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2011

31/03/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

7,181,273

7,213,998

 

  Cost of Sales

4,831,363

4,892,563

 

      GROSS PROFIT

2,349,910

2,321,435

 

  Selling & Adm Costs

1,501,813

1,544,890

 

      OPERATING PROFIT

199,821

31,772

 

  Non-Operating P/L

5,192

-4,860

 

      RECURRING PROFIT

205,013

26,912

　

      NET PROFIT

-259,585

-40,802

BALANCE SHEET

 

 

 

 

  Cash

　

1,014,412

1,191,608

 

  Receivables

 

834,221

996,100

 

  Inventory

 

704,043

645,455

 

  Securities, Marketable

646,171

579,493

 

  Other Current Assets

645,199

720,216

 

      TOTAL CURRENT ASSETS

3,844,046

4,132,872

 

  Property & Equipment

924,868

1,007,951

 

  Intangibles

 

391,122

378,917

 

  Investments, Other Fixed Assets

7,764,952

7,346,374

 

      TOTAL ASSETS

12,924,988

12,866,114

 

  Payables

 

793,275

817,118

 

  Short-Term Bank Loans

53,737

48,785

 

　

 

　

　

 

  Other Current Liabs

3,279,967

3,194,022

 

      TOTAL CURRENT LIABS

4,126,979

4,059,925

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

812,235

924,207

 

  Reserve for Retirement Allw

271,320

295,526

 

  Other Debts

　

4,758,552

4,300,901

 

      TOTAL LIABILITIES

9,969,086

9,580,559

 

      MINORITY INTERESTS

 

 

 

Common stock

630,921

630,822

 

Additional paid-in capital

1,159,666

1,157,812

 

Retained earnings

1,566,274

1,851,004

 

Evaluation p/l on investments/securities

50,336

62,337

 

Others

 

(465,948)

(411,745)

 

Treasury stock, at cost

(4,670)

(4,675)

 

      TOTAL S/HOLDERS` EQUITY

2,936,579

3,285,555

　

      TOTAL EQUITIES

12,924,988

12,866,114

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2011

31/03/2010

 

Cash Flows from Operating Activities

　

616,245

912,907

 

Cash Flows from Investment Activities

-714,439

-746,004

 

Cash Flows from Financing Activities

-10,112

365,014

　

Cash, Bank Deposits at the Term End

　

1,014,412

1,191,608

ANALYTICAL RATIOS            Terms ending:

31/03/2011

31/03/2010

 

 

Net Worth (S/Holders' Equity)

2,936,579

3,285,555

 

 

Current Ratio (%)

93.14

101.80

 

 

Net Worth Ratio (%)

22.72

25.54

 

 

Recurring Profit Ratio (%)

2.85

0.37

 

 

Net Profit Ratio (%)

-3.61

-0.57

 

 

Return On Equity (%)

-8.84

-1.24

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.57

UK Pound

1

Rs.85.03

Euro

1

Rs.69.56

 

 

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.