MIRA INFORM REPORT

 

 

Report Date :

13.06.2012

 

IDENTIFICATION DETAILS

 

Name :

SUN WAY TECHNOLOGY CO LTD

 

 

Registered Office :

SWT Bldg, 3-15-9 Hongo Bunkyoku Tokyo 113-0033

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

February 1996

 

 

Com. Reg. No.:

(Tokyo-Bunkyoku) 002911

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of servers, motherboards, chassis, peripheral & accessories

 

 

No. of Employees :

15

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

SUN WAY TECHNOLOGY CO LTD

 

 

REGD NAME

 

Sun Way Technology KK

 

 

MAIN OFFICE

 

SWT Bldg, 3-15-9 Hongo Bunkyoku Tokyo 113-0033 JAPAN

Tel: 03-3815-9001     Fax:          

 

URL:     `                       www.sunwaytech.co.jp  

E-mail:                         (thru the URL)   

 

 

ACTIVITIES  

 

Import, wholesale of servers, motherboards, chassis, peripheral & accessories

 

 

BRANCHES

 

Nil

 

 

OFFICER(S)

 

SHUNSEI RAI, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 2,280 M

PAYMENTS No Complaints   CAPITAL           Yen 20 M

TREND UP                                WORTH            Yen 644 M

STARTED         1996                             EMPLOYES      15

COMMENT

 

IMPORTER & WHOLESALER OF SERVERS, MOTHERBOARDS, CHASSIS,  PERIPHERALS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$50,000 / O/A 30 DAYS

 

 

HIGHLIGHTS

           

The subject company was established by Shunsei Rai, a Taiwanese resident, in order to make most of his experience in the subject line of business.  This is a trading firm specializing in import and wholesale of servers, motherboards, chassis, peripherals & accessories.  Sole import agent of Supermicro Corporation of USA.  In 2010 started to import “ASUS” brand from ASUS Tek Computer Inc, Taiwan.  Domestic clients are major electronics & telecommunication companies.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as from the 31/12/2008 fiscal term.

 

The sales volume for Dec/2011 fiscal term amounted to Yen 2,280 million, a 17% up from Yen 1,948 million in the previous term.  The newly added supplier of ASUS brand from Taiwan continued to contribute to the increased sales.  Domestic demand also increased.  The recurring profit was posted at Yen 275 million and the net profit at Yen 170 million, respectively, compared with Yen 119 million net profit a year ago.  .

 

For the current term ending Dec 2012 the recurring profit is projected at Yen 300 million and the net profit at Yen 180 million, respectively, on a 5% rise in turnover, to Yean 2,400 million.  Imports continue rising.  Business is seen steadily expanding.   

           

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:            Feb 1996

Regd No.:           (Tokyo-Bunkyoku) 002911

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　1,600 shares

Issued:             　400 shares

Sum:                　Yen 20 million

Major shareholders (%): Shunsei Rai (60), Hosei Kyu (25), Hokyo Kaku (15)

No. of shareholders: 3

 

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

 

OPERATION

 

Activities: Imports and wholesales server systems, RAID sub-systems, motherboards, memory, chassis, their peripherals & accessories, as import agent for Supermicro Corporation (USA) (--100%).

Offers technical support, system consulting, and other related services.

 

Clients: [Mfrs, wholesalers] Forks Inc, Nippon Computing System, NTT Data Corp, KSG Company, Yasukawa Electric Corp, Logitec INA solutions, other

            No. of accounts: 300

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Supermicro Corp (50%), ASUS Tek Computer Inc, KK Ramtec, Peta Store, Maxtronic International, other

 

Payment record:  No Complaints

 

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

 

Bank References:

MUFG (Hongo)

Mizuho Bank (Hongo)

Relations: Satisfactory

 

FINANCES

 (In Million Yen)

 

　

　

31/12/2012

31/12/2011

31/12/2010

31/12/2009

Annual Sales

　

2,400

2,280

1,948

1,826

Recur. Profit

　

300

275

　

　

Net Profit

　

180

170

119

136

Total Assets

　

　

1,818

N/A

N/A

Net Worth

　

　

644

474

391

Capital, Paid-Up

　

　

20

20

20

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.26

17.04

6.68

-15.07

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

7.50

7.46

6.11

7.45

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/12/2012 fiscal term. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.05

UK Pound

1

Rs.86.69

Euro

1

Rs.69.98

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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