MIRA INFORM REPORT

 

 

Report Date :

30.10.2012

 

IDENTIFICATION DETAILS

 

Name :

TEKWIND CO LTD

 

 

Registered Office :

Yushima First Bldg 7F, 3-19-11 Yushima Bunkyoku Tokyo 113-0034

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

December 1973

 

 

Com. Reg. No.:

0100-01-143143 (Tokyo-Bunkyoku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of PCs & peripherals

 

 

No. of Employees :

101 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

 

TEKWIND CO LTD

 

 

REGD NAME

 

Tekwind KK

 

 

MAIN OFFICE

 

Yushima First Bldg 7F, 3-19-11 Yushima Bunkyoku Tokyo 113-0034 JAPAN

Tel: 03-4323-8600      Fax: 03-4323-8610

 

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

E-Mail address:                        (thru the URL)

 

 

ACTIVITIES

 

Import, wholesale of PCs & peripherals

 

 

BRANCHES

 

Narashino (Chiba)

 

 

OVERSEAS

 

USA (of US parent)

 

 

FACTORIES

 

Tokyo (assembly, processing)

 

OFFICERS

 

MENGZHOU WANG, PRES       Shin’ichi Watanabe, v pres

Akira Nakamura, dir                   Hyogo Kawasaki, dir

Shigenori Hirota, dir                    Kenji Ishido, dir 

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 24,903 M

PAYMENTS                  No Complaints          CAPITAL           Yen 499 M

TREND             UP                                WORTH            Yen 2,082 M

STARTED                     1973                             EMPLOYES      101

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN PCS & PERIPHERALS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

The subject company was established by Synnex Corporation (USA) as its marketing arm in Japan.  This is a trading firm specializing in PCs and peripherals: core components, such as CPC, OS and HDD.  Clients include major electronics makers, wholesalers, other.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2012 fiscal term amounted to Yen 24,903 million, a 4% up from Yen 23,873 million in the previous term.  The recurring profit was posted at Yen 268 million and the net profit at Yen 122 million, respectively, compared with Yen 403 million recurring profit and yen 97 million net profit, respectively, a year ago.

 

For the current term ending Mar 2013 the recurring profit is projected at Yen 280 million and the net profit at Yen 130 million, respectively, on a 4% rise in turnover, to Yen 26,000 million.

 

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

 

 

REGISTRATION

 

Date Registered:  Dec 1973

Regd No.:         0100-01-143143 (Tokyo-Bunkyoku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         3.9 million shares

Issued:                999,600 shares

Sum:                   Yen 499.8 million

Major shareholders (%): MCJ Co Ltd* (87.6), Synnex Infotec Corp (4.2), Sawada Holdings (2)

 

*.. Mfr of PCs & peripherals thru BTO (Built-to-order), Tokyo, founded 1912, listed Tokyo (Mothers), capital Yen  3,849 million, sales Yen 80,238 million, operating profit Yen 2,373 million, recurring profit Yen 2,615 million, net profit Yen 1,741 million, total assets Yen 39,702 million, net worth Yen 16,893 million, employees 923, pres Yuji Takashima

 

No. of shareholders: 7

 

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

 

 

OPERATION

           

Activities: Imports and wholesales PCs & peripherals: CPU, OS, Mother Board, HDD; assembly of built-to-order PCs and servers, others (--100%)

 

Clients: [Mfrs, wholesalers] Unit Com (20%), Mouth Computer (20%), Yamada Denki Co, Amazon Japan, Yodobashi Camera Co, other 

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Intel, Microsoft Japan, Western Digital Inc, ASUS, Elsa Japan, other

 

Payment record: No Complaints

 

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

 

Bank References:

SMBC (Kanda-Ekimae)

Mizuho Bank (Tokyo-Chuo)

Relations: Satisfactory

 

 

FINANCES

 (In Million Yen)

 

       Terms Ending:

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

26,000

24,903

23,873

23,322

Recur. Profit

　

280

268

403

　

Net Profit

　

130

122

97

220

Total Assets

　

　

9,800

7,843

8,718

Current Assets

　

　

9,232

7,356

8,374

Current Liabs

　

　

4,992

4,753

5,899

Net Worth

　

　

2,082

1,960

1,863

Capital, Paid-Up

　

　

499

499

499

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.41

4.31

2.36

-15.01

    Current Ratio

 

..

184.94

154.77

141.96

    N.Worth Ratio

..

21.24

24.99

21.37

    R.Profit/Sales

 

1.08

1.08

1.69

..

    N.Profit/Sales

0.50

0.49

0.41

0.94

    Return On Equity

..

5.86

4.95

11.81

 

Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.81

UK Pound

1

Rs.86.52

Euro

1

Rs.69.50

 

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.