|
Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAMIYA DIGITAL IMAGING CO LTD |
|
|
|
|
Registered Office : |
Kototaira Bldg 5F, 1-2-2 Koraku Bunkyoku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
March 2006 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of handy-size
cameras, lenses, electronic optical instruments |
|
|
|
|
No. of Employees : |
93 employees |
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 : |
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 – 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 |
|
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 |
MAMIYA DIGITAL IMAGING CO LTD
Mamiya Digital
Imaging KK
Kototaira Bldg 5F,
1-2-2 Koraku Bunkyoku Tokyo 112-0004 JAPAN
Tel:
03-6748-1970 Fax: 03-6748-1992
E-Mail address: (thru the UR)
Mfg of
handy-size cameras, lenses, electronic optical instruments, others
Nil
Saku
(Nagano)
TOSHIO
MIDORIKAWA, PRES
Misao
Takasu, dir
Taiichi
Yamabe, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 1,395 M
PAYMENTS no complaints CAPITAL Yen 460 M
TREND SLOW WORTH Yen 424 M
STARTED 2006 EMPLOYES 93
MFR SPECIALIZING IN CAMERAS & LENSES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Toshio Midorikawa in order to
make most of his experience in the subject line of business. This is a specialized mfr of handy-size cameras,
interchangeable lenses, other accessories, electronic optical instruments,
other. Goods are exported. Domestic clients include camera shops, other. Goods are sold online, too.
Financials are only partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 1,395 million,
a 22% down from Yen 1,777 million in the previous term. Exports were hurt by the high Yen, reducing
substantially revenues in Yen terms.
Export volumes decreased. The net
profit was posted at Yen 9 million, compared with Yen 5 million a year
ago. The firm undergone personnel
reduction and cost cuts, thereby the profits increased from the previous term
For the current term ending Mar 2013 the net profit is projected at Yen
10 million, on a 4% rise in turnover, to Yen 1,450 million.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements. Max
credit limit is estimated at Yen 72.9 million, on 30 days normal terms. We recommend secured terms on new
transactions. Negative net worth.
Date Registered: Mar 2006
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
36,800 shares
Issued: 9,200
shares
Sum: Yen 460 million
Major shareholders (%): Swiss Asset Investment (46.4),
Phase One Inc (45), Employees’ S/Holding Assn (5.5)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures handy-size cameras, interchangeable lenses, accessories, electronic optical instruments, precision instruments, others (--100%)
Goods are sold online, too.
Clients: [Mfrs, wholesalers] Phase One Inc (80%), Yodobashi Camera, Bic Camera, Leaf Imaging Inc, Suwa Optronics, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Phase One Inc, Konica Minolta Group, Nidec Copal Corp, other
Payment record: no complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Hachijuni Bank (Iwamurata)
Resona Bank (Kagurazaka)
Relations: Satisfactory
(In Million Yen)
|
|
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
1,450 |
1,395 |
1,777 |
1,474 |
|
Recur.
Profit |
|
|
12 |
|
|
|
Net
Profit |
|
10 |
9 |
5 |
7 |
|
Total
Assets |
|
|
1,476 |
N/A |
N/A |
|
Net
Worth |
|
|
424 |
415 |
410 |
|
Capital,
Paid-Up |
|
|
460 |
460 |
460 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.94 |
-21.50 |
20.56 |
-16.53 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
28.73 |
.. |
.. |
|
|
N.Profit/Sales |
0.69 |
0.65 |
0.28 |
0.47 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.97 |
|
UK Pound |
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.70.16 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.