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Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
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Name : |
VALQUA FFT INC |
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Registered Office : |
Think Part Tower 24F, 2-1-1 Osaki Shinagawaku Tokyo 141-6024 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
Oct
1972 |
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Com. Reg. No.: |
0200-01-009245
(Tokyo-Shinagawaku) |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Mfg
of silicon wafer, reclaiming of silicon wafer |
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No. of Employees : |
154 |
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 : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 |
|
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 |
VALQUA FFT INC
REGD NAME: KK
Valqua FFT
MAIN OFFICE: Think
Part Tower 24F, 2-1-1 Osaki Shinagawaku Tokyo 141-6024 JAPAN
Tel:
03-5719-7666 Fax: 03-5719-7667
URL: http://www.ftti.jp
E-Mail
address: (thru the URL)
Mfg of
silicon wafer, reclaiming of silicon wafer
Nagasaki
Yokohama,
Nagasaki
HIRONORI
WATANABE, PRES Noboru Watanabe, ch
Shozo
Watanabe, dir Masaaki
Sakura, dir
Teruo
Suzuki, dir Teruo
Ushida, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,000 M
PAYMENTSSlow
but correct CAPITAL Yen 472 M
TREND UP WORTH Yen 1,072 M
STARTED 1972 EMPLOYES 154
MFR OF SILICON WAFERS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Noboru Watanabe in order to make most of his
experience in the subject line of business, originally named as Watanabe
Optical KK, and in Nov 2004 renamed as Fujimi Fine Technology Inc. In Dec 2011, the firm went into business
tie-up with Nippon Valqua Industries Ltd (See REGISTRATION). This is a
specialized mfr of silicon wafers, including reclaiming. Clients include major electronics makers,
other
Financials
are only partially disclosed.
The sales volume for Dec/2011
fiscal term amounted to Yen 3,000 million, a 2% up from Yen 2,940 million in
the previous term. The net profit was
posted at Yen 100 million, similarly in the previous term.
For the current
term ending Dec 2012 the net profit is projected at Yen 110 million, on a 3%
rise in turnover, to Yen 3,100 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Oct 1972
Regd No.: 0200-01-009245 (Tokyo-Shinagawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 3
million shares
Issued:
944,000 shares
Sum: Yen 472 million
Major shareholders (%): Nippon Valqua Industries (52%),
other
No. of shareholders: 15
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures silicon wafers,
including reclaiming works; semiconductor grinding & polishing works
(--100%).
Clients: [Mfrs, wholesalers] E&M, KST
World, Toshiba Corp, Samsung Electronics Japan, Renesas Electronics,
Electronics & Materials Corp, On Semiconductor Technologies, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kyushu CIC
Laboratory, Nitta Haas Trading, Covalent Materials Corp, Yutaka Trends Co,
Nikka Seiko Co, Kanto Kagaku, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Bank
of Yokohama (Nakayama)
Mizuho
Bank (Shin-Yokohama)
Relations:
Satisfactory
(In Million Yen)
|
|
|
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Annual
Sales |
|
3,100 |
3,000 |
2,940 |
2,191 |
|
Recur.
Profit |
|
|
|
109 |
-362 |
|
Net
Profit |
|
110 |
100 |
100 |
-306 |
|
Total
Assets |
|
|
N/A |
4,006 |
4,102 |
|
Net
Worth |
|
|
1,072 |
972 |
871 |
|
Capital,
Paid-Up |
|
|
472 |
472 |
472 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.33 |
2.04 |
34.19 |
-37.40 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
24.26 |
21.23 |
|
|
N.Profit/Sales |
3.55 |
3.33 |
3.40 |
-13.97 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.07 |
|
|
1 |
Rs.84.94 |
|
Euro |
1 |
Rs.68.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.