|
Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
nichiden Seimitsu Kogyo Ltd |
|
|
|
|
Registered Office : |
336-1 Mitsuzukacho Ogaki City Gifu-Pref 503-0808 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
October, 1961 |
|
|
|
|
Com. Reg. No.: |
2000-01-014095 (Gifu-Ogaki) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer of Mold and Assembly for Semiconductors. |
|
|
|
|
No. of Employees : |
105 |
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 Complaint |
|
|
|
|
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 (31.03.2011) |
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 |
NICHIDEN SEIMITSU KOGYO LTD
REGD NAME: Nichiden
Seimitsu Kogyo KK
MAIN OFFICE: 336-1
Mitsuzukacho Ogaki City Gifu-Pref 503-0808 JAPAN
Tel:
0584-81-6321
Fax: 0584-81-8340
E-Mail address: jinji@nsk-cp.co.jp
Mfg of
mold & assembly for semiconductors
Kumamoto
Malaysia
Gifu
(3), Kobe
TADAYUKI
YOSHIDA, PRES Yoshiaki Fujita, mgn
dir
Takako
Yoshida, dir Masahiro
Yoshida, dir
Masaharu
Nagae, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 9,500 M
PAYMENTS NO COMPLAINT CAPITAL Yen 88 M
TREND SLOW WORTH Yen
1,159 M
STARTED 1961 EMPLOYES 105
MFR OF SEMICONDUCTOR MOLD & ASSEMBLY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established originally by father of Tadayuki Yoshida for
making molds for semiconductors, on his account, and was incorporated in
1964. This is a specialized mfr of molds
& assembly for semiconductors.
Clients include major electronics makers, including Samsung Korea.
Financials
are only partially disclosed.
The
sales volume for Sept/2012 fiscal term amounted to Yen 9,500 million, a 10%
down from Yen 10,500 million in the previous term. The competition was harsher with prices
continued to come down. The net profit
is estimated posted at Yen 40 million, compared with Yen 50 million a year
ago. Profits were not precisely
disclosed.
For
the current term ending Sept 2013 the net profit is projected at Yen 45
million, on a 2% rise in turnover, to Yen 9,700 million. Business is rather slow to expand.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 169.8 million, on 30 days normal terms.
Date Registered: Oct 1961
Regd No.: 2000-01-014095 (Gifu-Ogaki)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 710,400 shares
Issued: 177,600 shares
Sum: Yen 88.8 million
Major shareholders (%): Tadayuki Yoshida and families (--100)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures molds & assembly for semiconductors, others (--100%)
(Mfg Items):
Mold: stamping tool, forming tool, other;
Assembly: semiconductor lead frame, o0to device lead frame, transistor lead frame, precision motor parts, razor parts, connector parts, camera parts, other;
Apparatus: automation equipment, precision jig & tool, other
Clients: [Mfrs, wholesalers] NEC, Panasonic Corp, Sharp Corp, Samsung Korea, Kyocera Corp, Sony Corp, Omron Corp, NEC Kansai, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Daido Special Metal, Okaya & Co, Umetoku Inc, Isis Co, Nishimura Chemitech Co, other
Payment record: No Complaint
Location: Business area in Ogaki, Gifu-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Ogaki Kyoritsu Bank (Fujie)
MUFG (Ogaki)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
Annual
Sales |
|
9,700 |
9,500 |
10,500 |
11,000 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
45 |
40 |
50 |
60 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
1,159 |
1,119 |
1,069 |
|
Capital,
Paid-Up |
|
|
88 |
88 |
88 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.11 |
-9.52 |
-4.55 |
12.24 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.46 |
0.42 |
0.48 |
0.55 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.