MIRA INFORM REPORT
|
Report Date : |
10.01.2012 |
IDENTIFICATION DETAILS
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Name : |
AUTOMOTIVE ENERGY SUPPLY CORPORATION |
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Registered Office : |
2-10-1 Hironodai Zama Kanagawa-Pref
252-0012 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
April 2007 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of lithium-ion battery products |
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No. of Employees
: |
400 |
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 291.5 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 30th, 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 |
Company name
AUTOMOTIVE ENERGY SUPPLY CORPORATION
REGD NAME
Automotive Energy
Supply KK
MAIN OFFICE
2-10-1 Hironodai
Zama Kanagawa-Pref 252-0012 JAPAN
Tel:
046-291-4000 Fax: 046-291-4011
URL: http://www.eco-aesc-ib.com
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
lithium-ion battery products
BRANCHES
Nil
FACTORIES
At the
caption address
OFFICERS
SHOICHI
MATSUMOTO, PRES Hideo Oka, rep dir
Hiroshi
Sugawara, dir Hideo
Sekisawa, dir
Eiji
Makino, dir Michio
Kitahara, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 16,656 M
PAYMENTS Unknown CAPITAL Yen
2,345 M
TREND UP WORTH Yen (-) 9,396 M
STARTED 2007 EMPLOYES 400
COMMENT
MFR OF LITHIUM-ION BATTERY PRODUCTS, JOINTLY OWNED BY NISSAN
MOTOR CO & NEC CORP.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 291.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established jointly by Nissan Motor Co & NEC
Corp (See REGISTRATION) for mfg lithium-ion
battery for automotive application.
Through continuous research, development and evaluation over 20 years by
Nissan & NEC group the battery has reached to real-world, mass-produced,
practical technology for electric driving.
Clients are automakers nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 16,656
million, a 167% up from Yen 6,238 million in the previous term. The production has expanded for the second
term. The operations incurred a deficit,
due to heavy investment costs, as the firm says, to register Yen 9,731 million
recurring loss and Yen 9,685 million net losses for the term, compared with Yen
180 million recurring profit and Yen 171 million net profit, respectively, a
year ago.
For the current term ending Mar 2012 the operations are expected to come
back to profitability but still limited to a minimum amount post-taxes, on a 5%
rise in turnover, to 17,500 million.
Business is seen steadily expanding.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements. Max credit limit is estimated at Yen 291.5
million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 2007
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
46,900 shares
Issued:
46,900 shares
Sum: Yen 2,345 million
Major shareholders (%): Nissan Motor Co Ltd (51), NEC
Corp**, NEC Energy Device (--49)
No. of shareholders: 3
*.. Second largest automaker in Japan, Yokohama, founded 1933, listed Tokyo,
NASDAQ S/E’s, capital Yen 605,814 million, sales Yen 8,773,093 million,
operating profit Yen 537,467 million, recurring profit Yen 537,814 million, net
profit Yen 319,221, total assets Yen 10,736,693 million, net worth Yen
3,273,783 million, employees 28,491, pres Carlos Ghosn
Consolidated Financial are attached (See SUPPLEMENTS)
**.. One of representative high-tech powerhouse & top-ranked player
in communications systems in Japan, Tokyo, founded 1899, listed Tokyo S/E,
capital Yen 397,199 million, sales Yen 3,115,424 million, operating profit Yen
57,820 million, recurring profit Yen 41 million, net losses Yen 12,518 million,
total assets Yen 2,465,183 million, net worth Yen 726,277 million, employees
115,568, pres Nobuhiro Endo
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Manufactures
lithium-ion battery products: lithium-ion cells (high energy cell for battery
electric vehicles, high power cell for hybrid electric vehicles), modules (high
energy module for BEV & HEV), packs (high energy battery pack for BEV &
HEV), other (--100%).
Clients: [Automakers,
mfrs, wholesalers] Nissan Motor, NEC Corp, Renault Japan, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] NEC Energy Device, CTC, Sankyo Trading, other
Payment record: Unknown
Location: Business area in
Zama, Kanagawa-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
· Mizuho Corporate Bank (H/O)
· Bank of Yokohama (Hashimoto)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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17,500 |
16,656 |
6,238 |
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Recur.
Profit |
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0 |
-9,731 |
180 |
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Net
Profit |
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0 |
-9,685 |
171 |
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Total
Assets |
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51,257 |
17,812 |
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Current
Assets |
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22,109 |
7,729 |
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Current
Liabs |
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33,601 |
8,250 |
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Net
Worth |
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-9,396 |
3,289 |
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Capital,
Paid-Up |
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2,345 |
2,345 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.07 |
167.01 |
#DIV/0! |
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Current Ratio |
|
.. |
65.80 |
93.68 |
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N.Worth Ratio |
.. |
-18.33 |
18.47 |
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R.Profit/Sales |
|
0.00 |
-58.42 |
2.89 |
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N.Profit/Sales |
0.00 |
-58.15 |
2.74 |
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Return On Equity |
.. |
.. |
5.20 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF NISSAN MOTOR
CO LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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8,773,093 |
7,517,277 |
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Cost of Sales |
7,155,100 |
6,146,219 |
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GROSS PROFIT |
1,617,993 |
1,371,058 |
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Selling & Adm Costs |
1,080,526 |
1,059,449 |
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OPERATING PROFIT |
537,467 |
311,609 |
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Non-Operating P/L |
347 |
-103,862 |
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RECURRING PROFIT |
537,814 |
207,747 |
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NET PROFIT |
319,221 |
42,390 |
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BALANCE SHEET |
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Cash |
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998,822 |
802,410 |
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Receivables |
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738,950 |
641,154 |
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Inventory |
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982,233 |
802,278 |
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Securities, Marketable |
158,012 |
50,641 |
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Other Current Assets |
3,467,818 |
3,283,927 |
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TOTAL CURRENT ASSETS |
6,345,835 |
5,580,410 |
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Property & Equipment |
3,637,042 |
3,858,129 |
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Intangibles |
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133,769 |
143,911 |
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Investments, Other Fixed Assets |
620,047 |
632,370 |
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TOTAL ASSETS |
10,736,693 |
10,214,820 |
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Payables |
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1,181,469 |
1,001,287 |
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Short-Term Bank Loans |
593,095 |
349,427 |
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Other Current Liabs |
2,605,981 |
2,506,144 |
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TOTAL CURRENT LIABS |
4,380,545 |
3,856,858 |
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Debentures |
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640,850 |
507,142 |
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Long-Term Bank Loans |
1,422,478 |
1,791,983 |
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Reserve for Retirement Allw |
182,155 |
175,638 |
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Other Debts |
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836,882 |
868,094 |
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TOTAL LIABILITIES |
7,462,910 |
7,199,715 |
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MINORITY INTERESTS |
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Common
stock |
605,814 |
605,814 |
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Additional
paid-in capital |
804,470 |
804,470 |
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Retained
earnings |
2,733,253 |
2,456,523 |
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Evaluation
p/l on investments/securities |
20,862 |
1,045 |
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Others |
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(728,592) |
(584,906) |
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Treasury
stock, at cost |
(162,024) |
(267,841) |
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TOTAL S/HOLDERS` EQUITY |
3,273,783 |
3,015,105 |
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TOTAL EQUITIES |
10,736,693 |
10,214,820 |
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CONSOLIDATED CASH FLOWS |
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Terms
ending: |
31/03/2011 |
31/03/2010 |
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Cash Flows
from Operating Activities |
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667,502 |
1,177,226 |
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Cash
Flows from Investment Activities |
-331,118 |
-496,532 |
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Cash
Flows from Financing Activities |
110,575 |
-663,969 |
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Cash,
Bank Deposits at the Term End |
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1,153,453 |
761,495 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
3,273,783 |
3,015,105 |
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Current
Ratio (%) |
144.86 |
144.69 |
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Net
Worth Ratio (%) |
30.49 |
29.52 |
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Recurring
Profit Ratio (%) |
6.13 |
2.76 |
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Net
Profit Ratio (%) |
3.64 |
0.56 |
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Return
On Equity (%) |
9.75 |
1.41 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.73 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.67.01 |
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 |
|
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 |
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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.