MIRA INFORM REPORT

 

 

Report Date :

26.10.2012

 

IDENTIFICATION DETAILS

 

Name :

OWLTECH CORPORATION

 

 

Registered Office :

5-24-1 Nakashinden Ebina Kanagawa-Pref 243-0422

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

April 1992

 

 

Com. Reg. No.:

(Kanagawa-Ebina) 026741

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer, import, export, wholesale of PC’s & peripherals

 

 

No. of Employees :

40 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

 

Status :

Satisfactory

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

 

 

Company name 

 

OWLTECH CORPORATION

 

 

REGD NAME

 

KK Owltech Corporation

 

 

MAIN OFFICE

 

5-24-1 Nakashinden Ebina Kanagawa-Pref 243-0422 JAPAN

Tel: 046-236-3520      Fax: 046-236-3521

                                               

URL:                 http://www.owltech.co.jp

E-Mail address:            (thru the URL)

 

 

ACTIVITIES

 

Mfg, import, export, wholesale of PC’s & peripherals

 

 

BRANCHES

 

Nil

 

 

FACTORIES

 

At the caption address

 

 

OFFICERS

 

TOMOHIKO TOONISHI, PRES

Haruo Shoji, dir

Teruko Shoji, dir            

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 1,873 M

PAYMENTS                  No Complaints          CAPITAL           Yen 50 M

TREND             UP                                WORTH            Yen 384 M

STARTED                     1992                             EMPLOYES      40

           

 

COMMENT    

 

MFR OF PC & PERIPHERALS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$500,000 / O/A 30 DAYS

                       

 

HIGHLIGHTS

           

The subject company was established by Tomohiko Toonishi in order to make most of his experience in the subject line of business.  This is a trading firm, with mfg division, for import, export and wholesale of PC’s & peripherals.  The firm belongs to no group and with no subsidiaries.  This is, however, a major agent dealership of Mitsumi Electric Co Ltd (see REGISTRATION), but no capital tie-ups.  Clients include electronics makers, wholesalers, other, nationwide. 

 

 

FINANCIAL INFORMATION

           

Financial are only partially disclosed.

 

The sales volume for Mar/2012 fiscal term amounted to Yen 1,873 million, an 18% up from Yen 1,587 million in the previous term.  Demand rose.  Exports were robust.  The net profit was posted at Yen 43 million, compared with Yen 30 million a year ago.

 

For the current term ending Mar/2013 the net profit is projected at Yen 50 million, on a 7% rise in turnover, to Yen 2,000 million.  Business is seen expanding steadily.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:            Apr 1992

Regd No.:          (Kanagawa-Ebina) 026741

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         4,000 shares

Issued:                1,000 shares

Sum:                   Yen 50 million

 

Major shareholders (%): Tomohiko Tonishi (65), Haruo Shoji (35)

 

No. of shareholders: 2

 

Nothing detrimental is known as to the commercial morality of executives.

 

*.. Mitsumi Electric Co Ltd, a leading comprehensive electronic parts mfr with mechanical parts & computer peripheral equipment as mainline, Tokyo, founded 1949, capital Yen 39,890 million, sales Yen 167,207 million, operating loss Yen 8,357 million, recurring loss Yen 8,234 million, net losses Yen 28,335 million, total assets Yen 144,840 million, net worth Yen 104,188 million, employees 39,461, pres Shigeru Moribe

 

 

OPERATION

           

Activities: Imports, exports, manufactures and wholesales PC’s & peripherals (--100%).

 

(PC peripherals): PC case, drive case, mobile rack, power supply unit, card reader writer, mobile phones, keyboard, case fan, CPU cooler, video games, cables, cartridges, earphones, other.

 

Clients: [Mfrs, wholesalers] Yamada Denki Co, Yodobashi Camera, Bic Camera, Sofmap Co, Daiwabo Information System, PC Depot Corp, Amazon.com. Inc, K’s Denki Corp, SoftBank BB, Edion Corp, Goodwill Co, Third Wave Corp, other

 

No. of accounts: 300

 

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Mitsumi Electric Co, Sanyo Electric Co, Toshiba Corp, Sea Sonic Electronics, Chenbro Micom, Chieftech Industrial, Delta Electronics, FSP, Lian-Li Industry, LG Electronics Japan, TEAC Corp, other

 

Payment record: No Complaints

 

Location: Business area in Ebina, Kanagawa-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Bank of Yokohama (Atsugi)

Mizuho Bank (Atsugi)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

　

　

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

2,000

1,873

1,587

1,536

Recur. Profit

　

　

　

　

　

Net Profit

　

50

43

30

29

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

384

341

311

Capital, Paid-Up

　

　

50

50

50

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

6.78

18.02

3.32

-23.20

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

2.50

2.30

1.89

1.89

 

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.53.63

UK Pound

1

Rs.86.18

Euro

1

Rs.69.75

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.