MIRA
INFORM REPORT
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Report Date : |
04.02.2012 |
IDENTIFICATION DETAILS
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Name : |
THIRDWAVE HOLDINGS CORPORATION |
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Registered Office : |
Dai-2 Dempa Bldg 8F/9F, 2-14-10 Sotokanda
Chiyodaku Tokyo 101-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2011 |
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Date of Incorporation : |
2008 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale,
retail of PCs, AV equipment, peripherals |
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No. of Employees : |
605 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 23.7 Million |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
THIRDWAVE HOLDINGS CORPORATION
REGD NAME: KK
Third Wave Holdings
MAIN OFFICE
Dai-2 Dempa Bldg
8F/9F, 2-14-10 Sotokanda Chiyodaku Tokyo 101-0021
JAPAN
Tel:
03-5294-6327 Fax: 03-5294-6332
E-mail: (thru the URL)
ACTIVITIES
Import,
export, wholesale, retail of PCs, AV equipment, peripherals
SHOPS
Osaka,
Nagoya, Sapporo, Sendai, Chiba, Kawasaki, Omiya, Shizuoka,
Kyoto,
Kobe, Okayama, Hiroshima, Fukuoka, other (Tot 35 shops)
OFFICER(S)
KENSUKE
OZAKI, PRES
Yusuke
Ozaki, dir
Tsutomu
Kikkawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,000 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
159 M
STARTED 2008 EMPLOYES 605
COMMENT
IMPORTER
AND WHOLESALER OF PCS, AV EQUIPMENT, PERIPHERALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$75,000 / O/A 30 DAYS
MAX
CREDIT LIMIT: YEN 23.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established as a Holding Company of
the Thirdwave Group. The core company,
Thirdwave Corp, founded 1984, operates 35 shops, selling PC &
peripherals. Opened the first shop in
Akihabara, known as the “Electric Town”, Tokyo.
The Group consists of two companies: Thirdwave Corporation and Evergreen
Corporation.
FINANCIAL INFORMATION
The sales volume for Jul/2011 fiscal term amounted to Yen
2,000 million, a 3% up from Yen 1,950 million in the previous term. Opened one new store during the term. The net profit was posted at Yen 40 million,
compared with Yen 35 million a year ago.
For the current term ending Jul 2012 the net profit is
projected at Yen 42 million, on a 5% rise in turnover, to Yen 2,100.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 23.7 million, on 30 days normal terms. The proposed amount is considered well within
the firm’s financial capacities.
REGISTRATION
Date Registered: Aug 1999
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen 10 million
Major shareholders (%):
Kensuke Ozaki & families (--100)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION:
Activities: Holding Company of Thirdwave Group,
consisting of Thirdwave Corporation and Evergreen Corporation (--100%).
Thirdwave Corporation operates
35 shops selling PC’s & peripherals:
(Handling items): desktop PCs, notebooks, servers, CPUs,
memory modules, hard drives, DVD, CD-ROM, CD-TW, MO, FDD (diskette drives),
motherboards, VGS cards, sound cards, network cards, monitors, printers, video
capture cards, modems, PC cases, keyboards, mouse, speakers, cables,
connectors, media (CD-R/RW, DVD-R/RW), other.
Clients: [Consumers, PC stores, business firms]
Thirdwave Corp, Evergreen Corp, Repro Electronics Corp, other
No. of accounts: 300 (of
Thirdwave Corp)
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Daiwabo Information System, Otsuka Corp, Okaya
Electronics,
Nissho Electronics, other.
Imports
from USA, other.
Payment record: No
Compalints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Kanda)
Resona
Bank (Akihabara)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/07/2012 |
31/07/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
|
2,100 |
2,000 |
1,950 |
2,900 |
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Recur.
Profit |
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Net
Profit |
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42 |
40 |
35 |
36 |
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Total
Assets |
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2,456 |
1,415 |
1,313 |
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Current
Assets |
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255 |
201 |
225 |
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Current
Liabs |
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851 |
567 |
638 |
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Net
Worth |
|
|
159 |
119 |
118 |
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Capital,
Paid-Up |
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|
10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.00 |
2.56 |
-32.76 |
11.54 |
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Current Ratio |
|
.. |
29.96 |
35.45 |
35.27 |
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N.Worth Ratio |
.. |
6.47 |
8.41 |
8.99 |
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R.Profit/Sales |
|
.. |
.. |
.. |
.. |
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N.Profit/Sales |
2.00 |
2.00 |
1.79 |
1.24 |
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Return On Equity |
.. |
25.16 |
29.41 |
30.51 |
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Notes: Forecast (or estimated) figures for the
31/07/2012 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.96 |
|
|
1 |
Rs.77.46 |
|
Euro |
1 |
Rs.64.39 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.