MIRA INFORM REPORT

 

 

Report Date :           

28.01.2012

 

IDENTIFICATION DETAILS

 

Name :

SONY SUPPLY CHAIN SOLUTIONS INC

 

 

Registered Office :

3-3-1 Heiwajima Ohtaku Tokyo 143-0006

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

February 1962

 

 

Com. Reg. No.:

(Tokyo-Ohtaku) 015430

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Logistic operations for procurement of electronic parts, components for exclusively Sony Corp & group firms

 

 

No. of Employees :

466

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

Yen 1,706.3 Million

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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)

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

 

SONY SUPPLY CHAIN SOLUTIONS INC

 

 

REGD NAME

 

Sony Supply Chain Solutions KK

 

 

MAIN OFFICE

 

3-3-1 Heiwajima Ohtaku Tokyo 143-0006

Tel: 03-5764-8800     Fax: 03-5764-8899

                                               

URL:                             http://www.sonyscs.co.jp

E-Mail address:                        sscs-kouhou@jp.sony.com

 

 

ACTIVITIES  

 

Logistic operations for procurement of electronic parts, components for Exclusively Sony Corp & group firms

 

 

BRANCHES

 

43 domestic; 12 overseas

 

 

OFFICERS

 

TOSHIHITO EZURE, PRES                     Akio Taki, v pres

Tadahisa Nakayama, s/mgn dir               K Inayoshi, mgn dir

Katsumi Mutoh, mgn dir                         Junichi Kurumaki, mgn dir                      

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 57,146 M

PAYMENTS      REGULAR                     CAPITAL           Yen 1,550 M

TREND             UP                                WORTH            Yen 36,402 M

STARTED                     1962                             EMPLOYES      466

 

 

COMMENT    

 

LOGISTIC OPERATIONS, WHOLLY OWNED BY SONY CORP.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 1,706.3 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established on the basis of a logistic operation division separated from Sony Corp (See REGISTRATION).  This is a logistic operation center: procurement of electronic parts & components for exclusive supply to the parent and group firms.  Goods are both imported and exported.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 57,146 million, a 63% up from Yen 35,127 million in the previous term.  Economic activities and market revived from the global economic downturn.  The recurring profit was posted at Yen 1,011 million and the net profit at Yen 16 million, compared with Yen 1,922 million recurring profit and Yen 584 million net profit, respectively, a year ago.

 

For the term ending Mar 2012 the recurring profit is projected at Yen 1,100 million and the net profit at Yen 650 million, respectively, on a 3% rise in turnover, to Yen 59,000 million.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 1,706,3 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Feb 1962

Regd No.:         (Tokyo-Ohtaku) 015430

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         124,000 shares

Issued:             31,000 shares

Sum:                   Yen 1,550 million

Major shareholders (%): Sony Corp* (100)

 

*.. Globally renowned mfr o consumer electronics, Tokyo, founded 1946, listed Tokyo S/E, capital Yen 630,923 million, sales Yen 7,181,723 million, operating profit Yen 199,821 million, recurring profit Yen 205,013 million, net loss Yen 259,585 million, total assets Yen 12,859,832 million, net worth Yen 2,368,845 million, employees 168,200, pres Howard Stringer

 

Consolidated Financials are attached (See SUPPLEMENTS)

           

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Logistics operations for procurement, supply, import, export of electronics parts & components (80%), distribution, transportation (20%)

 

Clients: [Mfrs, wholesalers] Sony Corp & group firms

            No. of accounts: 1,000

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Sony Corp & group firms

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

·         MUFG (Gotanda)

·         SMBC (Gotanda)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

59,000

57,146

35,127

51,595

Recur. Profit

　

1,100

1,011

1,922

211

Net Profit

　

650

16

584

-1,291

Total Assets

　

　

85,642

63,176

41,622

Current Assets

　

　

77,212

54,911

33,753

Current Liabs

　

　

45,751

48,286

28,061

Net Worth

　

　

36,402

11,857

10,712

Capital, Paid-Up

　

　

1,550

1,550

1,550

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

3.24

62.68

-31.92

-31.56

       Current Ratio

 

..

168.77

113.72

120.28

       N.Worth Ratio

..

42.50

18.77

25.74

       R.Profit/Sales

 

1.86

1.77

5.47

0.41

       N.Profit/Sales

1.10

0.03

1.66

-2.50

       Return On Equity

..

0.04

4.93

-12.05

 Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, SONY CORP

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2011

31/03/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

7,181,273

7,213,998

 

  Cost of Sales

4,831,363

4,892,563

 

      GROSS PROFIT

2,349,910

2,321,435

 

  Selling & Adm Costs

1,501,813

1,544,890

 

      OPERATING PROFIT

199,821

31,772

 

  Non-Operating P/L

5,192

-4,860

 

      RECURRING PROFIT

205,013

26,912

　

      NET PROFIT

-259,585

-40,802

BALANCE SHEET

 

 

 

 

  Cash

　

1,014,412

1,191,608

 

  Receivables

 

834,221

996,100

 

  Inventory

 

704,043

645,455

 

  Securities, Marketable

646,171

579,493

 

  Other Current Assets

645,199

720,216

 

      TOTAL CURRENT ASSETS

3,844,046

4,132,872

 

  Property & Equipment

924,868

1,007,951

 

  Intangibles

 

391,122

378,917

 

  Investments, Other Fixed Assets

7,764,952

7,346,374

 

      TOTAL ASSETS

12,924,988

12,866,114

 

  Payables

 

793,275

817,118

 

  Short-Term Bank Loans

53,737

48,785

 

　

 

　

　

 

  Other Current Liabs

3,279,967

3,194,022

 

      TOTAL CURRENT LIABS

4,126,979

4,059,925

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

812,235

924,207

 

  Reserve for Retirement Allw

271,320

295,526

 

  Other Debts

　

4,758,552

4,300,901

 

      TOTAL LIABILITIES

9,969,086

9,580,559

 

      MINORITY INTERESTS

 

 

 

Common stock

630,921

630,822

 

Additional paid-in capital

1,159,666

1,157,812

 

Retained earnings

1,566,274

1,851,004

 

Evaluation p/l on investments/securities

50,336

62,337

 

Others

 

(465,948)

(411,745)

 

Treasury stock, at cost

(4,670)

(4,675)

 

      TOTAL S/HOLDERS` EQUITY

2,936,579

3,285,555

　

      TOTAL EQUITIES

12,924,988

12,866,114

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2011

31/03/2010

 

Cash Flows from Operating Activities

　

616,245

912,907

 

Cash Flows from Investment Activities

-714,439

-746,004

 

Cash Flows from Financing Activities

-10,112

365,014

　

Cash, Bank Deposits at the Term End

　

1,014,412

1,191,608

ANALYTICAL RATIOS            Terms ending:

31/03/2011

31/03/2010

 

 

Net Worth (S/Holders' Equity)

2,936,579

3,285,555

 

 

Current Ratio (%)

93.14

101.80

 

 

Net Worth Ratio (%)

22.72

25.54

 

 

Recurring Profit Ratio (%)

2.85

0.37

 

 

Net Profit Ratio (%)

2.85

0.37

 

 

Return On Equity (%)

6.98

0.82

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.65

UK Pound

1

Rs.77.80

Euro

1

Rs.65.05

 

 

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.