MIRA INFORM REPORT

 

 

Report Date :

26.10.2012

 

IDENTIFICATION DETAILS

 

Name :

PANASONIC MOBILE COMMUNICATIONS CO LTD

 

 

Registered Office :

600 Saedocho Tsuzukiku Yokohama 224-0054

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

January  1958

 

 

Com. Reg. No.:

0200-01-030509 (Yokohama^Tsuizukiku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of mobile phone sets (Softbank, DoCoMo), PHS telephones,

 

 

No. of Employees :

2,380 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

 

PANASONIC MOBILE COMMUNICATIONS CO LTD

 

 

REGD NAME

 

Panasonic Mobile Communications KK

 

 

MAIN OFFICE

 

600 Saedocho Tsuzukiku Yokohama 224-0054 JAPAN

Tel: 045-932-1231      Fax: 045-544-3285

 

URL:                 http://www.panasonic.co.jp/pmc

E-Mail address:            (thru the URL)

 

 

ACTIVITIES  

 

Mfg of mobile phone sets (Softbank, DoCoMo), PHS telephones, other

 

 

BRANCHES

 

Tokyo, Shizuoka

 

 

OVERSEAS

 

China, UK

 

 

FACTORIES

 

At the caption address, Yokosuka, Shizuoka

 

OFFICERS

 

TOSHINORI HOSHI, PRES         Eiji Hagiwara, mgn dir

Taro Itakura, dir              Motoo Kume, dir

Toshiyuki Takagi, dir     

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 156,291 M

PAYMENTS                  No Complaints          CAPITAL           Yen 22,856 M

TREND             SLOW                          WORTH            Yen 158,225 M

STARTED                     1958                             EMPLOYES      2,380

 

 

COMMENT

 

MFR OF MOBILE PHONE SETS, OWNED BY PANASONIC CORP.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established originally in 1944 by Matsushita Electric Ind and in Jan 2003 when Matsushita renamed as Panasonic Corp, name changed to the captioned.  This is a specialized mfr of mobile phone sets, PHS telephone sets, other.  Clients include NTT DoCoMo, NTT East & West, other.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2012 fiscal term amounted to Yen 156,291 million, a 23% down from Yen 204,223 million in the previous term.  Demand decreased.  Competition became harsh among the trade.  As a result, the operations went into the red to register Yen 5,013 million recurring loss and Yen 4,435 million net losses, respectively, compared with Yen 3,086 million recurring profit and Yen 6,119 million net profit, respectively, a year ago.

 

For the current term ending Mar 2013 the recurring profit is projected at Yen 5,000 million and the net profit at Yen 4,500 million, respectively, on a 4% fall in turnover, to Yen 150,000 million.  .

 

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

 

 

REGISTRATION

 

Date Registered:       Jan 1958

Regd No.:                       0200-01-030509 (Yokohama^Tsuizukiku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         182 million shares

Issued:                45.7 million shares

Sum:                   Yen 22,856,000,000 million

Major shareholders (%): Panasonic Corp* (100)

 

*.. Largest comprehensive mfr of AV and other home electric appliances, Tokyo, founded 1935, listed Tokyo, Osaka, Nagoya, New York S/E’s, capital Yen 258,740 million, sales Yen 7,846,216 million, operating loss Yen 43,725 million, recurring loss Yen 812,844 million, net losses Yen 772,172 million, total assets Yen 6,432,717 million, net worth Yen 1,867,175 million, employees 327,512, pres Kazuhiro Tsuga

           

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

 

 

OPERATION

           

Activities: Manufactures mobile phone sets, PHS telephone sets, networking works (--100%).

 

Clients: [Mfrs, wholesalers] NTT DoCoMo, NTT East & West, NTT Comware, other 

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Panasonic Corp, NTT Data MSE, other

 

Payment record: No Complaints

 

Location: Business area in Yokohama.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

SMBC (Tokyo)

Bank of Yokohama (H/O)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

150,000

156,291

204,223

268,275

Recur. Profit

　

5,000

-5,013

3,086

9,414

Net Profit

　

4,500

-4,435

6,119

14,900

Total Assets

　

　

223,126

245,229

282,856

Current Assets

　

　

164,475

183,059

213,310

Current Liabs

　

　

84,388

77,349

114,878

Net Worth

　

　

158,225

143,563

165,237

Capital, Paid-Up

　

　

22,856

22,856

22,856

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

-4.03

-23.47

-23.88

-18.73

    Current Ratio

 

..

194.90

236.67

185.68

    N.Worth Ratio

..

70.91

58.54

58.42

    R.Profit/Sales

 

3.33

-3.21

1.51

3.51

    N.Profit/Sales

3.00

-2.84

3.00

5.55

    Return On Equity

..

-2.80

4.26

9.02

 

Notes: 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%)

 

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