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Report Date : |
11.05.2012 |
IDENTIFICATION DETAILS
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Name : |
HITACHI VEHICLE ENERGY LTD |
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Registered Office : |
1410 Inada Hitachi-Naka City Ibaraki-Pref
312-0061 |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
June 2006 |
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Com. Reg. No.: |
0500-01-007392
(Ibsraki-Hitachinaka) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of lithium ion batteries for hybrid-electric
vehicles |
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No. of Employees : |
75 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
HITACHI VEHICLE
ENERGY LTD
Hitachi Vehicle
Energy KK
1410 Inada
Hitachi-Naka City Ibaraki-Pref 312-0061 JAPAN
Tel:
029-276-5471
URL: http://www.hitachi-ve.co.jp
E-Mail address: (thru the URL)
Mfg of
lithium ion batteries for hybrid-electric vehicles
Nil
At the
caption address
MASAFUMI
YUHARA, PRES Akira Muranaka, dir
Yoshito
Kakuta, dir Hiroshi Sato, dir
Mikio Sonogashira,
dir Yoshiyaru Katsuta, dir
Yen
Amount: In million Yen, unless otherwise stated
FINANCES WEAK A/SALES Yen 1,616 M
PAYMENTS slow
CAPITAL Yen 7,500 M
TREND SLOW WORTH Yen (-) 16,210 M
STARTED 2004 EMPLOYES 75
MFR OF LITHIUM ION BATTERIES, AFFILIATED TO.HITACHI LTD
FINANCIAL SITUATION CONSIDERED WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by three parties: Hitachi Ltd, Shi-Kobe Electric Machinery Co and Hitachi Maxell Ltd. This is a specialized mfr of lithium ion batteries for hybrid-electric vehicles. Goods are wholly shipped to Hitachi Automotive Systems Ltd (See REGISTRATION).
The sales volume for Mar/2011 fiscal term amounted to Yen 1,616 million, a 29% down from Yen 2,273 million in the previous term. Car mfrs were hurt by the global economic downturn that continued. The operations continued in the red to register Yen 5,780 million recurring loss and Yen 6,981 million net losses, respectively, compared with Yen 5,549 million recurring loss and Yen 9,994 million net losses, respectively, a year ago.
For the term that ended Mar 2012 the operations were projected to come back to profitability but still limited to a minimum amount post-taxes, on a 5% rise in turnover, to Yen 1,700 million. Final results are yet to be released.
The financial situation is considered WEAK but should be good for MODERATE business engagements.
Date Registered: Jun 2006
Regd No.: 0500-01-007392 (Ibsraki-Hitachinaka)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
150,000 shares
Issued:
150,000 shares
Sum: Yen 7,500 million
Major shareholders (%): Hitachi Automotive Systems
(65), Shin-Kobe Electric Machinery Co (25), Hitachi Maxell Ltd (10)
No. of shareholders: 3
*.. Hitachi Automotive Systems,
mfr of automobile engines, parts, components, Tokyo, Founded 2009, capital Yen
15,000 million, sales Yen 372,594 million, net profit Yen 10,765 million,
employees 5,800, pres Kunihiko Omura
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures lithium-ion batteries: (For HEV) cylindrical lithium-ion battery cell, prismatic lithium-ion battery cell, lithium battery module; (For PHEV & EV) prismatic lithium-ion battery cell, other (--100%)
Clients: [Mfr] Hitachi Automotive Systems & group firms
No. of accounts: 1
Domestic areas of activities: Nationwide
Suppliers: [mfr] Hitachi Automotive Systems & group firms
Payment record: slow
Location:
Business area in Hitachinaka City, Ibaraki-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank
References:
Mizuho Corporate Bank (H/O)
Joyo Bank (Hitachinaka)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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1,700 |
1,616 |
2,273 |
1,750 |
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Recur.
Profit |
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0 |
-5,780 |
-5,549 |
-4,680 |
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Net
Profit |
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0 |
-6,981 |
-9,994 |
-4,575 |
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Total
Assets |
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1,427 |
1,781 |
5,653 |
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Current
Assets |
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1,426 |
1,780 |
1,186 |
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Current
Liabs |
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17,637 |
17,009 |
4,886 |
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Net
Worth |
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-16,210 |
-9,228 |
766 |
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Capital,
Paid-Up |
|
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7,500 |
7,500 |
7,500 |
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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 |
5.20 |
-28.90 |
29.89 |
43.91 |
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Current Ratio |
|
.. |
8.09 |
10.47 |
24.27 |
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N.Worth Ratio |
.. |
-1,135.95 |
-518.14 |
13.55 |
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R.Profit/Sales |
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0.00 |
-357.67 |
-244.13 |
-267.43 |
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N.Profit/Sales |
0.00 |
-431.99 |
-439.68 |
-261.43 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.34 |
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UK Pound |
1 |
Rs.86.11 |
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Euro |
1 |
Rs.69.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.