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Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
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Name : |
KING TECH CORP |
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Registered Office : |
Pacific Marks Nihombashi-Tomizawacho 2F, 10-18 Nihombashi-Tomizawacho Chuoku Tokyo 103-0006 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2010 |
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Date of Incorporation : |
October 2000 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 071379 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of external storage devices & peripherals |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRAs 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 33.3 Million |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
KING TECH CORP
REGD NAME: KK
King Tech
MAIN OFFICE: Pacific
Marks Nihombashi-Tomizawacho 2F, 10-18 Nihombashi-Tomizawacho
Chuoku Tokyo
103-0006 JAPAN
Tel: 03-5643-2671 Fax: 03-5643-2672
*.. Moved to the caption
address in Oct 2011 from the former as given
URL: http//:www.kingtech.co.jp
E-mail: (thru the URL)
Import, wholesale
of external storage devices & peripherals
Tokyo (Technical
Division)
(Fabless
operation)
YUAN YAO WANG,
PRES (a Taiwanese resident)
Akihiko Shinohara,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,111 M
PAYMENTS NO
COMPALINTS CAPITAL Yen 99 M
TREND SLOW WORTH Yen
180 M
STARTED 2000 EMPLOYES 30
TRADING FIRM
SPECIALIZING IN EXTERNAL STORAGE UNITS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$75,000 / O/A 90 DAYS
MAX CREDIT LIMIT:
YEN 33.3 MILLION, 30 DAYS NORMAL TERMS
The subject company was established
by Yuan Yao Wang, Taiwanese resident) in order to import and wholesale of
storage devices from Cremax Tech & Raidon Tech (both Taiwanese mfrs) in
Japan. This is a trading firm, with
fabless operations, for import and wholesale of external storage devices &
peripherals. Known for fabless operation
and direct customer support services.
Goods are imported from Taiwan, China, USA, other. Clients include major electronic device mfrs,
wholesalers, universities, other, nationwide.
Financials are only partially
disclosed for the 30/09/2011 fiscal term.
The sales volume for Sept/2011 fiscal term amounted to Yen 3,111
million, a 6% down from Yen 3,297 million in the previous term. Demand decreased. High Yen hurt earnings & profits in Yen
terms. The net profit was posted at Yen
1 million, compared with Yen 3 million recurring profit and Yen 1 million net
profit, respectively a year ago
For the current term ending Sept 2012 the net profit is projected at Yen
2 million, on a 5% rise in turnover, to Yen 3,250 million. Demand revived. Business is on the rise. OEM products will grow. .
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 33.3
million, on 30 days normal terms. The
proposed amount for 90 days terms is well within the firms financial
capacities.
Date Registered: Oct
2000
Regd No.:
(Tokyo-Chuoku) 071379
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,000 shares
Issued: 1,994 shares
Sum: Yen 99.7 million
Major shareholders (%): Yuan Yao Wang
(42.2), H Wang (19.5), Talent Gain
Developments
Limited (5), Cremax Tech Corp (3), IIM (1), other
No. of shareholders: 67
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales, including fabless operations, external storage devices (70%),
peripherals (15%), customer support services, others (--15%). (Breakdowns are all about).
(Handling
items): Interface card, SAS raid card, Raid card, Raid box, removable, storage,
tape device, tape library, removable hard disk, UPS, software, media networking
equipment, security, other..
(Areca
Raid products): External Raid controller, PCI raid HBAs, PCIe to SAS raid HBAs, SAS
non-raid ABAs, internal raid subsystems, external PCI raid HBAs, external
raid box, other. (cited from the firms
website).
Clients: [Electronics
mfrs, media & medical industries] NTT Data Tokai, IBM Japan, Daiwabo
Information System, Soft Bank BB, Japan Business Computer, Wintec Inc, Ricoh
Co, Tokyo University, Visual Technology, IT Crew, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] IBM Japan, IIM, James Communication, Accordance Systems, Cremax
Tech, Raidon Tech (--Taiwan), Panasonic Corp (ex Matsushita Electric Ind), NI
& Co, PlatHome Co, Dell, Daiwabo Information System, Transcend Japan,
Flectronics International, Softbank BB, Net World, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Ginzadori)
Resona Bank
(Muromachi)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
30/09/2011 |
30/09/2010 |
30/09/2009 |
30/09/2008 |
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Annual
Sales |
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3,111 |
3,297 |
2,555 |
2,107 |
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Recur.
Profit |
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3 |
7 |
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Net
Profit |
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1 |
1 |
1 |
15 |
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Total
Assets |
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N/A |
1,278 |
1,457 |
1,302 |
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Current
Assets |
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|
1,032 |
1,376 |
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Current
Liabs |
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|
835 |
1,137 |
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Net
Worth |
|
180 |
179 |
177 |
179 |
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Capital,
Paid-Up |
|
99 |
99 |
99 |
99 |
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Div.P.Share(₯) |
|
0 |
0.00 |
4.00 |
1.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
-5.64 |
29.04 |
21.26 |
64.87 |
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Current Ratio |
|
.. |
123.59 |
121.02 |
.. |
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N.Worth Ratio |
.. |
14.01 |
12.15 |
13.75 |
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R.Profit/Sales |
|
.. |
0.09 |
0.27 |
.. |
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N.Profit/Sales |
0.03 |
0.03 |
0.04 |
0.71 |
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Return On Equity |
.. |
0.56 |
0.56 |
8.38 |
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Notes: The figures
for the 30/09/2011 are actual figures, but are only partially disclosed for the
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
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Euro |
1 |
Rs.64.58 |
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 |
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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 SCs 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.