MIRA INFORM REPORT

 

 

Report Date :

07.08.2012

 

IDENTIFICATION DETAILS

 

Name :

PHOETON CORPORATION

 

 

Registered Office :

Atsugi AXT Main Tower 3F, 3040 Okada Atsugi Kanagawa-Pref 243-0021

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2012

 

 

Date of Incorporation :

May 2002

 

 

Com. Reg. No.:

0210-01-021539 (Kanagawa-Atsugi City)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of laser process apparatus

 

 

No. of Employees :

19

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

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

 

PHOETON CORPORATION

 

 

REGD NAME

 

Phoeton KK

 

 

MAIN OFFICE

 

 Atsugi AXT Main Tower 3F, 3040 Okada Atsugi Kanagawa-Pref 243-0021 JAPAN

Tel: 046-220-2931      Fax: 046-220-2903

 

URL:                 http://www.phoeton.com

E-Mail address:            Info@phoeton.com

 

 

ACTIVITIES

 

Mfg of laser process apparatus

 

 

BRANCHES

 

Atsugi

 

 

FACTORIES

 

Okada (Atsugi)

 

 

OFFICERS

 

·         TAKASHI NIRE, PRES                    

Akira Matsuno, dir

Hiroyuki Harashima dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 500 M

PAYMENTS      No Complaints          CAPITAL           Yen 435 M

TREND UP                                WORTH            Yen 33 M

STARTED         2002                             EMPLOYES      19

 

 

COMMENT

 

MFR OF LASER PROCESSING MACHINERY.

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established by Takashi Nire in order to make most of his experience in the subject line of business.  This is a specialized mfr of laser processing machinery and accessories.  Clients include major electronics mfrs, wholesaler, other, nationwide.

 

 

FINANCIAL INFORMATION

           

The sales volume for Jun/2011 fiscal term amounted to Yen 500 million, a 242% up from Yen 146 million in the previous term.  The operations continued in the deficit to register Yen 238 million recurring loss and Yen 152 million net losses, respectively, compared with Yen 130 million recurring loss and Yen 109 million net losses, respectively, a year ago.

 

For the term ended Jun 2012 the operations were projected to come back to profitability to Post Yen 100 million recurring profit and Yen 100 million net profit, respectively, on a 2% rise in turnover, to Yen 510 million.  Final results are yet to be released.

 

The financial situation is considered RTHER WEAK but should be good for MODERATE business engagements. 

 

 

REGISTRATION

 

Date Registered:  May 2002

Regd No.:         0210-01-021539 (Kanagawa-Atsugi City)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         34,000 shares

Issued:                8,702 shares

Sum:                   Yen 435.1 million

      Major shareholders (%): Takashi Nire (9), Hitachi Hitec Solutions (5), Inspire Corp (4)

No. of shareholders: 51

 

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

 

 

OPERATION

           

Activities: Manufactures laser processing machinery & apparatus (--100%)

 

Clients: [Mfrs, wholesalers] Nihon Denkei Co, Brother Ind, Hitachi Hitec Solutions, Denso Corp, Sumitomo Electric Ind, Hirakawa Hewtec Corp, Foster Electric Corp, other 

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Coherent Japan Inc, Kyowa Industrial Corp, Kantum Electronics Co, Sigma Koki Co, Tsubaco KI Corp, Furukawa Bussan Co, other

 

Payment record: No Complaints

 

Location: Business area in Atsugi City, Kanagawa-Pref.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Yachiyo Bank (Atsugi)

Hiratsuka Shinkin Bank (Atsugi)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

       Terms Ending:

30/06/2012

30/06/2011

30/06/2010

30/06/2009

Annual Sales

　

510

500

146

643

Recur. Profit

　

100

-238

-130

　

Net Profit

　

100

-152

-109

25

Total Assets

　

　

437

397

701

Current Assets

　

　

282

188

　

Current Liabs

　

　

251

82

　

Net Worth

　

　

33

185

294

Capital, Paid-Up

　

　

435

435

435

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.00

242.47

-77.29

92.51

    Current Ratio

 

..

112.35

229.27

..

    N.Worth Ratio

..

7.55

46.60

41.94

    R.Profit/Sales

 

19.61

-47.60

-89.04

..

    N.Profit/Sales

19.61

-30.40

-74.66

3.89

 

Notes: Forecast (or estimated) figures for the 30/06/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.47

UK Pound

1

Rs.86.60

Euro

1

Rs.68.66

 

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.