MIRA INFORM REPORT
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Report Date : |
10.01.2012 |
IDENTIFICATION DETAILS
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Name : |
THIRDWAVE 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 : |
March 1984 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 018053 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale,
Retail of PCs, AV equipment, peripherals |
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No. of Employees
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360 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 533.1 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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
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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
THIRDWAVE CORPORATION
REGD NAME
KK Third Wave
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 30 shops)
OFFICER(S)
KENSUKE
OZAKI, PRES
Tsutomu
Yoshikawa, dir
Yasuno
Matsuo, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 29,500 M
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND STEADY WORTH Yen
2,615 M
STARTED 1999 EMPLOYES 360
COMMENT
IMPORTER
AND WHOLESALER OF PCS, AV EQUIPMENT, PERIPHERALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS:
US$900,000 / O/A 60 DAYS
MAX
CREDIT LIMIT: YEN 533.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established for sales of PC & peripherals,
as Thirdwave Corporation. Opened the
first shop in Akihabara, known as the Electric Town, Tokyo. Operates a total 30 stores nationwide, named
“DOSPARA”. This is a trading firm
specializing in import, export, retail and wholesale of PCs & peripherals
(See OPERATION). 75% of the goods are retailed. In 1992, started sales of IBM compatible PC
parts. In Apr 2008, the firm formed a
Holding Company, Thirdwave Holdings Corporation, and became its
subsidiary. Under the holding company
are two subsidiaries: Thirdwave Corporation and Evergreen Corporation.
FINANCIAL INFORMATION
The sales volume for Jul/2011 fiscal term amounted to Yen 29,500
million, a 13% up from Yen 26,161 million in the previous term. Opened two new stores during the term. Wholesaling division rose. The net profit was posted at Yen 200 million,
compared with Yen 212 million net loss a year ago.
For the current term ending Jul 2012 the net profit is projected at Yen
210 million, on a 3% rise in turnover, to Yen 30,500 million. Sales are seen steadily rising on the back of
rising demand for “Smart Phone”, other.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 533.1 million, on 30 days normal terms. The proposed amount for 60 days terms is
considered well within the firm’s financial capacities.
REGISTRATION
Date Registered: Mar 1984
Regd No.: (Tokyo-Chiyodaku) 018053
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 320,000
shares
Issued: 80,000 shares
Sum: Yen 40 million
Major shareholders (%): Thirdwave
Holdings Corp* (100)
*.. Holding company owned by
Kensuke Ozaki
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Retails &
wholesales PCs & peripherals (--100%).
(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] Consumers (75%), Online sales (15%), Corporations,
universities, research institutes, schools (--10%)
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Okaya Electronics (20%), CFD Sales Corp (8%), LG Electronics
Japan, Unidax Inc, Acer Japan, other.
Imports from USA,
other.
Payment record: Regular
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)
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Terms Ending: |
31/07/2012 |
31/07/2011 |
31/07/2010 |
31/07/2009 |
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Annual
Sales |
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30,500 |
29,500 |
26,161 |
26,449 |
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Recur.
Profit |
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Net
Profit |
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210 |
200 |
-212 |
500 |
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Total
Assets |
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8,727 |
7,133 |
6,029 |
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Current
Assets |
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6,905 |
5,370 |
4,505 |
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Current
Liabs |
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3,710 |
3,296 |
2,176 |
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Net
Worth |
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2,615 |
2,420 |
2,646 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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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 |
3.39 |
12.76 |
-1.09 |
76.29 |
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Current Ratio |
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.. |
186.12 |
162.92 |
207.03 |
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N.Worth Ratio |
.. |
29.96 |
33.93 |
43.89 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.69 |
0.68 |
-0.81 |
1.89 |
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Return On Equity |
.. |
7.65 |
-8.76 |
18.90 |
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Notes: Forecast (or estimated) figures for the 31/07/2012
fiscal term
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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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 |
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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 |
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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.