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Report Date : |
19.11.2012 |
IDENTIFICATION DETAILS
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Name : |
HITACHI HIGH-TECH FIELDING CORPORATION |
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Registered Office : |
PALT Bldg, 4-28-8 Yotsuya Shinjukuku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April 1965 |
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Com. Reg. No.: |
0110-01-029712
(Tokyo-Shinjukuku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Maintenance, sale of
scientific instruments, medical instruments |
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No. of Employees : |
924 employees |
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
|
Source : CIA |
HITACHI HIGH-TECH FIELDING CORPORATION
KK Hitachi High
Tech Fielding
PALT Bldg, 4-28-8
Yotsuya Shinjukuku Tokyo 160-0004 JAPAN
Tel:
03-5379-2311 Fax: 03-3341-6158
URL: http://www.hitachi-hitec.com/fielding
E-Mail address: (thru the URL)
Maintenance,
sale of scientific instruments, medical instruments, other
Sapporo,
Sendai, Hitachinaka, Saitama, Yokohama, Nagoya, Osaka, Hiroshima, Fukuoka
YOSHIMASA
NAGAMINE, PRES
Tomiyoshi
Saitoh, dir Katsuyuki
Kato, dir
Morimasa
Gempei, dir Mitsuhiro
Takada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 42,487 M
PAYMENTS REGULAR CAPITAL Yen 1000 M
TREND UP WORTH Yen 12,117 M
STARTED 1965 EMPLOYES 924
MAINTENANCE & SALE OF SCIENTIFIC INSTRUMENTS, OTHERS, OWNED BY HITACHI HIGH-TECHNOLOGIES CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated from Hitachi High-Technologies Corp (See REGISTRATION). This company specializes in engineering & maintenance of scientific instruments, medical instruments, other produced by the parent, Hitachi High-Technologies Corp. Also export their parts & components, too. Clients are principally Hitachi Group firms, including universities, laboratories, governments, others, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 42,487 million, a 6% up from Yen 40,051 million in the previous term. The recurring profit was posted at Yen 1,288 million and the net profit at Yen 552 million, respectively, compared with Yen 1,373 million recurring profit and yen 708 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 1,300 million and the net profit at Yen 570 million, respectively, on a 5% rise in turnover, to Yen 44,600 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr 1965
Regd No.: 0110-01-029712 (Tokyo-Shinjukuku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 8
million shares
Issued:
2 million shares
Sum: Yen 1,000 million
Major shareholders (%): Hitachi High-Technologies Corp*
(100)
*.. Hitachi Ltd affiliated trading company dealing mainly in electronic equipment and materials, Tokyo, founded 1947, listed Tokyo, Osaka S/E’s, capital Yen 7,938 million, sales Yen 645,865 million, operating profit Yen 25,459 million, recurring profit Yen 26,233 million, net profit Yen 14,265 million, total assets Yen 421,017 million, net worth Yen 256,429 million, employees 10,348, pres Masao Hisada
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Engineering firm for maintenance (54%) and export, wholesale (46%) of: industrial instruments, scientific instruments, medical instruments, semiconductor fabrication equipment, their parts & components (--100%)
Clients: [Mfrs, wholesalers] Hitachi High-Technologies Corp, Roche Diagnostics GmbH, Hitachi High-Technologies Europe, universities, governments, other
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Hitachi High-Technologies Corp, Hitachi High-Tech Solutions, Hitachi High-Tech Mfg & Sales Corp, other
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Harajuku)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
44,600 |
42,487 |
40,051 |
37,308 |
|
Recur.
Profit |
|
1,300 |
1,288 |
1,373 |
1,285 |
|
Net
Profit |
|
570 |
552 |
708 |
653 |
|
Total
Assets |
|
|
25,178 |
24,172 |
25,546 |
|
Current
Assets |
|
|
20,989 |
20,236 |
21,527 |
|
Current
Liabs |
|
|
9,721 |
9,208 |
9,378 |
|
Net
Worth |
|
|
12,117 |
11,778 |
13,263 |
|
Capital,
Paid-Up |
|
|
1,000 |
1,000 |
1,000 |
|
Div.P.Share(¥) |
|
|
85.00 |
106.00 |
98.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.97 |
6.08 |
7.35 |
-10.63 |
|
|
Current Ratio |
|
.. |
215.91 |
219.77 |
229.55 |
|
N.Worth Ratio |
.. |
48.13 |
48.73 |
51.92 |
|
|
R.Profit/Sales |
|
2.91 |
3.03 |
3.43 |
3.44 |
|
N.Profit/Sales |
1.28 |
1.30 |
1.77 |
1.75 |
|
|
Return On Equity |
.. |
4.56 |
6.01 |
4.92 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.99 |
|
UK Pound |
1 |
Rs.87.21 |
|
Euro |
1 |
Rs.70.22 |
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 |
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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 |
|
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 |
|
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.