MIRA INFORM REPORT

 

 

Report Date :

21.06.2012

 

IDENTIFICATION DETAILS

 

Name :

ASNICS CO LTD

 

 

Registered Office :

Shin-Yokohama Urban Square 5F, 1-3-1 Shin-Yokohama Kohokuku Yokohama  222-0033

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

June 2003

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Manufacturer of electronics parts & components

 

 

No. of Employees :

14

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

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 – 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 and address

 

ASNICS CO LTD

REGD NAME:    Asnics KK

MAIN OFFICE:  Shin-Yokohama Urban Square 5F, 1-3-1 Shin-Yokohama Kohokuku Yokohama

                        222-0033JAPAN

Tel: 045-470-6515      Fax: 045-470-6518

 

URL:                 http://www.asnics.com

E-Mail address: sales@asnics.com

 

 

ACTIVITIES

 

Mfg of electronics parts & components

 

BRANCHES

 

Nil

 

FACTORIES

 

(subcontracted)

 

 

OFFICERS

 

KENJI SAKAZAKI, PRES

Shozo Okuyama, dir                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        R/WEAK           A/SALES          Yen 170 M

PAYMENTS      SLOW              CAPITAL           Yen 30 M

TREND SLOW              WORTH            Yen 41 M

STARTED         2003                 EMPLOYES      14

 

COMMENT

 

MFR OF ELECTRONICS PARTS & COMPONENTS.

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

           

 

HIGHLIGHTS

           

            The subject company was established by Kenji Sakazaki in order to make most of his experience in the subject line of business, originally as Inertron Electronics Co.  In Sept 2009 renamed as captioned.  This is a trading firm, with mfg division, for import, export and wholesale of electronics parts & components, mainly for audio & connectors (See OPERATION).  Domestic clients include electronics mfrs, communications equipment makers, other.

 

 

FINANCIAL INFORMATION

           

            Financials are only partially disclosed.

 

The sales volume for Dec/2011 fiscal term amounted to Yen 170 million, an 8% down from Yen 183 million in the previous term.  Electronics markets were slow to recover.  The operations continued in the red to register Yen 5 million net losses for the term, compared with Yen 3 million net losses a year ago.  Foreign currency exchange losses were incurred.

 

            For the current term ending Dec 2012 the operations are expected to come back profitability to post Yen 5 million net profit, on a 3% rise in turnover, to Yen 175 million. 

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. 

 

 

REGISTRATION

 

Date Registered:  Jun 2003

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                600 shares

Sum:                   Yen 30 million

Major shareholders (%): Kenji Sakazaki (60), other

No. of shareholders: 4

 

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

 

 

 

 

OPERATION

 

Activities: Manufactures, imports, exports and wholesales electronics parts & components: RF products & components, cables for audio & convertors, electric power supply, other (--100%).

 

Clients: [Mfrs, wholesalers] JRC Nihon Musen, Ikueikai Tsushinki Co, Furukawa Electric Co, Toshiba Corp, Fujitsu Network Solutions, Mitsubishi Material, Fuji Film, other

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Tennerich Electronics, Cincon Electronics, Link SH, other

 

Payment record: Slow

 

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

 

Bank References:

SMBC (Shin-Yokohama)

Bank of Yokohama (Shin-Yokohama)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

　

　

31/12/2012

31/12/2011

31/12/2010

31/12/2009

Annual Sales

　

175

170

185

216

Recur. Profit

　

　

　

　

　

Net Profit

　

5

-5

-3

6

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

41

46

49

Capital, Paid-Up

　

　

30

30

30

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.94

-8.11

-14.35

-38.29

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

2.86

-2.94

-1.62

2.78

 

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.55.86

UK Pound

1

Rs.87.93

Euro

1

Rs.70.88

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.