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Report Date : |
09.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MAP ELECTRONICS CO LTD |
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Registered Office : |
116-14 Kosato Ueda City Nagano-Pref 386-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
June 1999 |
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Com. Reg. No.: |
(Nagano-Ueda) 010502 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of electronics components, telecommunication equipment |
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No. of Employees : |
18 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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
MAP ELECTRONICS CO LTD
REGD NAME: KK
Mappu Erekutoronikusu
MAIN OFFICE: 116-14
Kosato Ueda City Nagano-Pref 386-0005 JAPAN
Tel:
0268-28-7576 Fax: 0267-28-7577
URL: http://www.mapele.co.jp/
E-mail: sales@mapele.co.jp
Import, wholesale
of electronics components, telecommunication equipment
Tokyo; Hachioji
Taiwan (2)
YOSHIO YAMAZAKI,
PRES
Hiroaki Yamazaki,
dir
Toshiko Yamazaki,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 715 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 149 M
STARTED 1999 EMPLOYES 18
TRADING FIRM
SPECIALIZING IN ELECTRONICS COMPONENTS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$300,000 / O/A 30 DAYS
The subject company was established
by Yoshio Yamazaki in order to make most of his experience in the subject line
of business. This is a family-based
trading firm, owned and operated by the Yamazaki family, for import and
wholesale of electronics components & telecommunication equipment: AC
adaptors/power supply, LCD/OLED modules, LCP panels, RF convertors,
semiconductors, other (See OPERATIONS). Goods are imported from Taiwan, USA, other.
Financials are only partially
disclosed until the 31/03/2010 fiscal terms and have been disclosed in digested
form from the 31/03/2011 fiscal term.
The sales volume for Mar/2012 fiscal term amounted to Yen 715 million, a
1% up from Yen 707 million in the previous term. The recurring profit was posted at Yen 30
million and the net profit at Yen 20 million, respectively, compared with Yen
49 million recurring profit and Yen 27 million net profit, respectively, a year
ago.
For the current term ending Mar 2013 the
recurring profit is projected at Yen 35 million and the net profit at Yen 25
million, respectively, on a 4% rise in turnover, to Yen 740 million. Business is seen expanding steadily.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Jun
1999
Regd No.:
(Nagano-Ueda) 010502
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Yoshio Yamazaki
(100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales electronics components, telecommunication equipment, others
(--100%).
(Handling
Items):
AC
Adaptors/Power Supply (complying with CEC LEVEL V): C Switching
adaptor, open frame power, medical-use adaptors;
LCD/OLED
Modules: graphic, color STN, color TFT, TAB, COG, E-paper, organic EL display,
organic EL modules, custom-made components;
LCD
Panel: standard LCD panels, custom-made panels;
Telecommunication
Antennas;
RF
Connectors: SMA, SMB, BNC. TMC, LHF, FME, SMP;
Semiconductors:
LED,
other
Clients: [Electronics
mfrs, wholesalers] NEC Embedded Products Ltd, Circuit Design, Hioki EE
Corporation, NEC Computer Techno, Audio Technica, Nikon Corp, Panasonic Corp,
Mitsubishi Cable Ind, Tateyama Kagaku Kogyo, other.
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers [Mfrs,
wholesalers] Siward Crystal Technology, Sino American Electronics, Solomon
Goldentec Display, ENG Electronics, Winstar Display, other
Payment record: No Complaints
Location: Business area in
Ueda City, Nagano-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Hachijuni Bank
(Ueda)
MUFG
(Shinjuku-Chuo)
Relations:
Satisfactory
(In Million
Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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740 |
715 |
707 |
504 |
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Recur.
Profit |
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35 |
30 |
49 |
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Net
Profit |
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25 |
20 |
27 |
21 |
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Total
Assets |
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293 |
295 |
N/A |
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Current
Assets |
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97 |
99 |
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Current
Liabs |
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70 |
62 |
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Net
Worth |
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149 |
129 |
102 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
3.50 |
1.13 |
40.28 |
-13.85 |
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Current Ratio |
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.. |
138.57 |
159.68 |
.. |
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N.Worth Ratio |
.. |
50.85 |
43.73 |
.. |
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R.Profit/Sales |
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4.73 |
4.20 |
6.93 |
.. |
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N.Profit/Sales |
3.38 |
2.80 |
3.82 |
4.17 |
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Return On Equity |
.. |
13.42 |
20.93 |
20.59 |
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Notes: Financials
were only partially disclosed until the 31/03/2010 fiscal term.
Forecast (or
estimated) figures for the 31/03/2013 fiscal term
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.21 |
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1 |
Rs.84.00 |
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Euro |
1 |
Rs.67.75 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.