MIRA INFORM REPORT

 

 

Report Date :

28.06.2012

 

IDENTIFICATION DETAILS

 

Name :

SAMCO INC

 

 

Registered Office :

36 Warayacho Takeda Fushimiku Kyoto 612-8443

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2011

 

 

Date of Incorporation :

September 1979

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of equipment for electronic parts including semiconductors

 

 

No. of Employees :

149

 

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

 

SAMCO INC

 

 

REGD NAME

 

Samco KK

 

 

MAIN OFFICE

 

36 Warayacho Takeda Fushimiku Kyoto 612-8443 JAPAN

Tel: 075-621-7841     -

 

URL:                 http://www.samcointl.com

E-Mail address:            (thru the URL)

 

 

ACTIVITIES

 

Mfg of mfg equipment for electronic parts including semiconductors

 

 

BRANCHES

 

Tokyo, Tsukuba, Sendai, Tokai

 

 

OVERSEAS   

 

California, UK

 

 

FACTORIES

 

At the caption address, Tsukuba

 

 

CHIEF EXEC

 

OSAMU TSUJI, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                             　A/SALES       Yen 9,253 M

PAYMENTS  No Complaints  　CAPITAL        Yen 1,213 M

TREND UP                                　WORTH         Yen 6,485 M

STARTED         1979                             　EMPLOYES   149

           

 

COMMENT

 

MFR OF MFG EQUIPMENT FOR ELECTRONICS PARTS 

 

FINANCIAL SITUATION COSIDERED FAI AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

                        Unit: In Million Yen

Forecast figures for the 31/07/2012 fiscal term.

 

 

HIGHLIGHTS

 

This is the R&D oriented mfr of mfg equipment for electronic parts, including semiconductors.  Involved mainly in forming and processing of thin films for optical semiconductors.  Stressing business in Asia.

 

 

FINANCIAL INFORMATION

 

The sales volume for Jul/2011 fiscal term amounted to Yen 5,253 million, a 22.8% up from Yen 4.277 million in the previous term.   The recurring profit was posted at Yen 742 million and the net profit at Yen 430 million, respectively, compared with Yen 412 million recurring profit and Yen 247 million net profit, respectively, a year ago.

 

(Aug/2011-Apr 2012 results): Sales Yen 2,741 million (down 31.5%), operating profit Yen 200 million (down 68.35), recurring profit Yen 230 million (down 51.8%), net profit Yen 131 million (down 62.1%).  (% compared with the corresponding period a year ago)

 

For the current term ending Jul 2012 the recurring profit is projected at Yen 550 million and the net profit at Yen 320 million, on a 13.4% fall in turnover, to Yen 4,550 million.

 

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

 

REGISTRATION

 

Date Registered:　Sept 1979

Legal Status:      Limited Company (Kabushiki Kaisha

Authorized:       12 million shares

Issued:                5,869,068

Sum:                   Yen 1,213 million

 

Major shareholders (%): Osamu Tsuji (29.9), Samco Engineering Corp (13.0), Japan Trustee Services T (2.2), Dai-sho-kin (2.1), Toshiaki Tatsuta (2.1), MUFG (1.8), Chase London SL Omnibus (1.8)

 

No. of shareholders: 1,935

 

Listed on the S/Exchange (s) of: JASDAQ

 

Managements: Osamu Tsuji, pres; Shimeo Ishikawa, dir; Kiyoshi Hasegawa, dirt Wood, dir;

 

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

 

 

OPERATION

           

Activities: Mfg of CVD systems (24%), etching systems (56%), cleaning systems (7%), others (41%)

 

Export Ratio 41%

           

Clients: [Mfrs, wholesalers] Toshiba Corp, Showa Denko, Elec-Tech Opto Electronic Wuhu Co, Murata Mfg, other

            No. of accounts: 300

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Tomoe Shokai, Addtec Engineering, Seed Lab Corporation, other

 

Payment record: No Complaints

 

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

 

Bank References:

MUFG (Kyoto)

Bank of Kyoto (H/O)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/07/2011

31/07/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

5,253

4,277

 

  Cost of Sales

2,878

2,386

 

      GROSS PROFIT

2,375

1,894

 

  Selling & Adm Costs

1,565

1,431

 

      OPERATING PROFIT

810

453

 

  Non-Operating P/L

-68

-39

 

      RECURRING PROFIT

742

412

　

      NET PROFIT

430

247

BALANCE SHEET

 

 

 

 

  Cash

　

3,277

3,368

 

  Receivables

 

1,571

1,062

 

  Inventory

 

561

247

 

  Securities, Marketable

　

　

 

  Other Current Assets

118

439

 

      TOTAL CURRENT ASSETS

5,527

5,116

 

  Property & Equipment

3,078

3,037

 

  Intangibles

 

34

26

 

  Investments, Other Fixed Assets

366

345

 

      TOTAL ASSETS

9,005

8,524

 

  Payables

 

522

634

 

  Short-Term Bank Loans

800

800

 

　

 

　

　

 

  Other Current Liabs

556

308

 

      TOTAL CURRENT LIABS

1,878

1,742

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

96

136

 

  Reserve for Retirement Allw

39

26

 

  Other Debts

　

506

482

 

      TOTAL LIABILITIES

2,519

2,386

 

      MINORITY INTERESTS

 

 

 

Common stock

1,213

1,213

 

Additional paid-in capital

1,629

1,629

 

Retained earnings

3,645

3,302

 

Evaluation p/l on investments/securities

4

1

 

Others

 

1

0

 

Treasury stock, at cost

(7)

(7)

 

      TOTAL S/HOLDERS` EQUITY

6,485

6,138

　

      TOTAL EQUITIES

9,005

8,524

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/07/2011

31/07/2010

 

Cash Flows from Operating Activities

　

224

418

 

Cash Flows from Investment Activities

-132

-247

 

Cash Flows from Financing Activities

-131

85

　

Cash, Bank Deposits at the Term End

　

1,551

1,650

ANALYTICAL RATIOS            Terms ending:

31/07/2011

31/07/2010

 

 

Net Worth (S/Holders' Equity)

6,485

6,138

 

 

Current Ratio (%)

294.30

293.69

 

 

Net Worth Ratio (%)

72.02

72.01

 

 

Recurring Profit Ratio (%)

14.13

9.63

 

 

Net Profit Ratio (%)

8.19

5.78

 

 

Return On Equity (%)

6.63

4.02

 

           

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.57.22

UK Pound

1

Rs.89.42

Euro

1

Rs.71.46

 

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.