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Report Date : |
14.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ODIN ELECTRONICS CO LTD |
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Registered Office : |
Otogino Bldg 3F, 2-2123-1 Kitatomoda Hida |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
April 2007 |
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Com. Reg. No.: |
3200-01-010480 (Oita-Hida) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale, retail of security systems |
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No. of Employees : |
4 |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
ODIN ELECTRONICS CO LTD
REGD NAME: Odin
Electronics KK
MAIN OFFICE: Otogino
Bldg 3F, 2-2123-1 Kitatomoda Hida
Tel:
0973-26-0699 Fax: 0973-26-0698
URL: http://www.odinelectronics.jp
E-Mail address: y-shop@odinelectronics.jp
Import, export,
wholesale, retail of security systems
Tokyo
Taiwan
(subcontracted)
KIMIHIRO ONITAKE,
PRES
Narumichi
Watanabe, dir
Takeshi Sadasue,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 110 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 5 M
TREND SLOW WORTH Yen 11 M
STARTED 2007 EMPLOYES 4
TRADING FIRM SPECIALIZING IN SECURITY SYSTEMS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE OOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established
by Kimihiro Onitake 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 security systems: security
cameras, security monitors, other. Goods
are manufactured by a subsidiary company.
Goods are also imported. Goods
are also sold online. Clients are
business firms, consumers, other.
Financials are only partially
disclosed.
The sales volume for Mar/2011 fiscal term amounted to Yen 110 million,
an 8% down from Yen 120 million in the previous term. The net profit was posted at Yen 2 million,
compared with Yen 3 million a year ago.
For the term that ended Mar 2012 the
net profit was projected at Yen 3 million, on a 9% rise in turnover, to Yen 120
million. Final results are yet to be
released.
The financial situation is considered RATHER
WEAK but should be good for MODERATE business engagements.
Date Registered: Apr
2007
Regd No.:
3200-01-010480 (Oita-Hida)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400 shares
Issued: 100 shares
Sum: Yen 5 million
Major
shareholders (%): Kimihiro Onitake (100)
Nothing detrimental is known as to his
commercial morality.
Activities: Imports,
exports, wholesales and retails (online shop) electronic security systems:
security cameras, security monitors, others (--100%)
Clients: Business firms,
consumers, others
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from Taiwan, other
Payment record: Slow but correct
Location: Business area in
Hida City, Oita-Pref. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
Nishinippon City
Bank (Hida)
Japan Net Bank
(H/O)
Relations:
Satisfactory
(In Million Yen)
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31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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120 |
110 |
120 |
96 |
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Recur.
Profit |
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Net
Profit |
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3 |
2 |
3 |
1 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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11 |
8 |
5 |
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Capital,
Paid-Up |
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5 |
5 |
5 |
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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 |
9.09 |
-8.33 |
25.00 |
638.46 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
2.50 |
1.82 |
2.50 |
1.04 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2012 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.55.44 |
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1 |
Rs.89.31 |
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Euro |
1 |
Rs.71.61 |
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.