MIRA
INFORM REPORT
|
Report Date : |
04.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRIMEARTH EV ENGERGY CO LTD |
|
|
|
|
Registered Office : |
20 Okasaki Kosai City Shizuoka-Pref 431-0422 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
1996 |
|
|
|
|
Legal Form : |
Mfg of car batteries |
|
|
|
|
Line of Business : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
No. of Employees : |
2,700 |
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 1,631.4 Million |
|
Status : |
Good |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
PRIMEARTH EV ENGERGY CO LTD
REGD NAME: Primearth
EV Energy KK
MAIN OFFICE
20 Okasaki Kosai City
Shizuoka-Pref 431-0422 JAPAN
Tel:
053-577-3111
URL: http://www.peve.jp
E-Mail
address: (thru the URL)
ACTIVITIES
Mfg of
car batteries
BRANCHES
Toyoda
OVERSEAS
New
York (sales office)
FACTORIES
At the
caption address, Shizuoka, Miyagi, Toyoda
OFFICERS
YOSHIRO
HAYASHI, PRES Yasuhito Matsudaira,
s/mgn dir
Shingo
Tsuda, mgn dir Hiroshi
Oguri, mgn dir
Shozo
Takagi, dir Hajime
Takeshita, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 92,173 M
PAYMENTS REGULAR CAPITAL Yen 20,000 M
TREND SLOW WORTH Yen
31,637 M
STARTED 1996 EMPLOYES 2,700
COMMENT
MFR OF CAR BATTERIES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,631.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a
division separated from Panasonic Corp, as Panasonic EV Energy Co Ltd. Renamed as captioned in Jun 2010. This is a specialized mfr of Nickel-metal
hydride batteries for HEV’s & PEV’s.
Goods are shipped to Panasonic for delivery to mainly Toyota Motor Corp.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 92,173
million, a 15% down from Yen 108,572 million in the previous term. The operations plunged in the red to register
Yen 9,505 million recurring loss and Yen 7,259 million net losses,
respectively, compared with Yen 2,068 million recurring profit and Yen 724
million net profit, respectively a year ago.
Wrote off Yen 2,328 million as extraordinary losses.
For the current term ending Mar 2012 the operations are
projected to come back to profitability to post Yen 1,500 million recurring
profit and Yen 1,500 million net profit, respectively, on a 1.3% fall in
turnover, to Yen 91,000 million. Impacts
from the North East Earthquake are no longer felt but parts procurement is hit
by damage from the Thailand floods, as reported by Toyota Motor Corp.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 1,631.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec
1996
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 million shares
Issued:
400,000 shares
Sum: Yen 20,000 million
Major shareholders (%): Toyota Motor Co Ltd* (80),
Panasonic Corp (20)
No. of shareholders: 2
*.. World’s
largest automaker, Aichi-Pref, founded 1937, listed Tokyo, Osaka, Nagoya,
Fukuoka, Sapporo, London, New
York S/E’s, capital 397,050 million, sales Yen 18,993,688 million, operating
profit Yen 468,279 million, recurring profit Yen 563,290 million, net profit
Yen 408,183 million, total assets Yen 29,818,166 million, net worth Yen
10,920,024 million, employees 321,809, pres Akio Toyoda
Consolidated
Financials are attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures car batteries: Nickel
metal-hydride batteries, Lithium ion rechargeable batteries, batteries
management systems for HEV’s & PEV’s, recycles Nickel used batteries, other
(--100%)
Clients: [Mfrs, wholesalers] Panasonic
Automotive Systems
No. of
accounts: 1 (for distribution)
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Panasonic Corp,
Sumitomo Corp, other
Payment record: No
complaints
Location:
Business area in Kosai City, Shizuoka-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
SMBC
(Toyohashi)
MUFG
(Toyohashi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
91,000 |
92,173 |
108,572 |
75,366 |
|
Recur.
Profit |
|
1,500 |
-9,505 |
2,068 |
|
|
Net
Profit |
|
1,500 |
-7,259 |
724 |
-549 |
|
Total
Assets |
|
|
102,943 |
115,835 |
N/A |
|
Current
Assets |
|
|
17,988 |
24,963 |
|
|
Current
Liabs |
|
|
27,618 |
44,947 |
|
|
Net
Worth |
|
|
31,637 |
25,042 |
24,318 |
|
Capital,
Paid-Up |
|
|
20,000 |
10,000 |
10,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
-1.27 |
-15.10 |
44.06 |
-11.33 |
|
|
Current Ratio |
|
.. |
65.13 |
55.54 |
.. |
|
N.Worth Ratio |
.. |
30.73 |
21.62 |
.. |
|
|
R.Profit/Sales |
|
1.65 |
-10.31 |
1.90 |
.. |
|
N.Profit/Sales |
1.65 |
-7.88 |
0.67 |
-0.73 |
|
|
Return On Equity |
.. |
-22.94 |
2.89 |
-2.26 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
SUPPLEMENT
CONSOLIDATED FINANCIALS OF TOYOTA MOTOR
CO LTD
|
FINANCES: (Consolidated
in million yen) |
|
|||||
|
|
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
||
|
INCOME STATEMENT |
|
|
||||
|
|
Annual Sales |
|
18,993,688 |
18,950,973 |
||
|
|
Cost of Sales |
15,985,783 |
15,971,496 |
|||
|
|
GROSS PROFIT |
3,007,905 |
2,979,477 |
|||
|
|
Selling & Adm Costs |
2,539,626 |
2,831,961 |
|||
|
|
OPERATING PROFIT |
468,279 |
147,516 |
|||
|
|
Non-Operating P/L |
95,011 |
143,952 |
|||
|
|
RECURRING PROFIT |
563,290 |
291,468 |
|||
|
|
NET PROFIT |
408,183 |
209,456 |
|||
|
BALANCE SHEET |
|
|
|
|||
|
|
Cash |
|
2,080,709 |
1,865,746 |
||
|
|
Receivables |
|
1,449,151 |
1,886,273 |
||
|
|
Inventory |
|
1,304,242 |
1,422,373 |
||
|
|
Securities, Marketable |
1,225,435 |
1,793,165 |
|||
|
|
Other Current Assets |
5,770,218 |
6,106,047 |
|||
|
|
TOTAL CURRENT ASSETS |
11,829,755 |
13,073,604 |
|||
|
|
Property & Equipment |
6,309,160 |
6,710,901 |
|||
|
|
Intangibles |
|
|
|
||
|
|
Investments, Other Fixed Assets |
11,679,251 |
10,564,782 |
|||
|
|
TOTAL ASSETS |
29,818,166 |
30,349,287 |
|||
|
|
Payables |
|
1,503,072 |
1,956,505 |
||
|
|
Short-Term Bank Loans |
3,179,009 |
3,279,673 |
|||
|
|
|
|
|
|
||
|
|
Other Current Liabs |
6,108,909 |
5,450,036 |
|||
|
|
TOTAL CURRENT LIABS |
10,790,990 |
10,686,214 |
|||
|
|
Debentures |
|
|
|
||
|
|
Long-Term Bank Loans |
6,449,220 |
7,015,409 |
|||
|
|
Reserve for Retirement Allw |
668,022 |
678,677 |
|||
|
|
Other Debts |
|
989,910 |
1,038,544 |
||
|
|
TOTAL LIABILITIES |
18,898,142 |
19,418,844 |
|||
|
|
MINORITY INTERESTS |
|
|
|||
|
|
Common
stock |
397,050 |
397,050 |
|||
|
|
Additional
paid-in capital |
505,760 |
501,331 |
|||
|
|
Retained
earnings |
11,835,665 |
11,568,602 |
|||
|
|
Evaluation
p/l on investments/securities |
|
|
|||
|
|
Others |
|
(557,068) |
(276,115) |
||
|
|
Treasury
stock, at cost |
(1,261,383) |
(1,260,425) |
|||
|
|
TOTAL S/HOLDERS` EQUITY |
10,920,024 |
10,930,443 |
|||
|
|
TOTAL EQUITIES |
29,818,166 |
30,349,287 |
|||
|
CONSOLIDATED CASH FLOWS |
|
|
||||
|
|
|
Terms ending: |
31/03/2011 |
31/03/2010 |
||
|
|
Cash
Flows from Operating Activities |
|
2,024,009 |
2,558,530 |
||
|
|
Cash
Flows from Investment Activities |
-2,116,344 |
-2,850,184 |
|||
|
|
Cash
Flows from Financing Activities |
434,327 |
-277,982 |
|||
|
|
Cash,
Bank Deposits at the Term End |
|
2,080,709 |
1,865,746 |
||
|
ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
||||
|
|
|
Net
Worth (S/Holders' Equity) |
10,920,024 |
10,930,443 |
||
|
|
|
Current
Ratio (%) |
109.63 |
122.34 |
||
|
|
|
Net
Worth Ratio (%) |
36.62 |
36.02 |
||
|
|
|
Recurring
Profit Ratio (%) |
2.97 |
1.54 |
||
|
|
|
Net
Profit Ratio (%) |
2.15 |
1.11 |
||
|
|
|
Return
On Equity (%) |
3.74 |
1.92 |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.96 |
|
|
1 |
Rs.77.46 |
|
Euro |
1 |
Rs.64.39 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.