|
Report Date : |
30.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEC DISPLAY SOLUTIONS LTD |
|
|
|
|
Registered Office : |
Mita Kokusai Bldg 17F, 1-4-28 Mita
Minatoku Tokyo 108-0073 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
January 2000 |
|
|
|
|
Com. Reg. No.: |
0104-01-039851 (Tokyo-Minatoku) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Importer, exporter and wholesaler of overhead projectors, slide
projectors, display goods |
|
|
|
|
No. of Employees : |
570 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
NEC DISPLAY SOLUTIONS LTD
NEC Display
Solutions KK
Mita Kokusai Bldg
17F, 1-4-28 Mita Minatoku Tokyo 108-0073 JAPAN
Tel:
03-5446-5488 Fax: 03-5446-5488
URL: http://www.nec-display.com
E-Mail address: (thru the URL)
Mfg of
projectors, display goods, other
Osaka,
Nagoya
USA,
China
China,
other
NOBORU
TAKAGI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 72,163 M
PAYMENTSno Complaints CAPITAL Yen 3,000 M
TREND SLOW WORTH Yen 2,234 M
STARTED 2000 EMPLOYES 570
MFR OF PROJECTORS, DISPLAY GOODS, OWNED BY NEC CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading division
separated from NEC Corp (See REGISTRATION). This is a trading firm, with mfg division, for
import, export and wholesale of projectors, display goods, other. Goods are manufactured at subsidiary makers
in China. Goods are exported mainly to
USA.
The sales volume for Mar/2013 fiscal term amounted to Yen 72,163 million,
a 2% down from Yen 73,869 million in the previous term. High Yen hurt export/imports, reducing
revenues in Yen terms. The recurring
profit was posted at Yen 1,009 million and the net profit at Yen 786 million,
respectively, compared with Yen 2,634 million recurring profit and Yen 1,321
million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 1,100 million and the net profit at Yen 790 million, respectively, on a
3% rise in turnover, to Yen 74,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Jan 2000
Regd
No.: 0104-01-039851 (Tokyo-Minatoku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued:
20,000 shares
Sum:
Yen 1,000 million
Major
shareholders (%): NEC Corp* (100)
*.. NEC Corp, one of
representative high-tech power houses, Tokyo, founded 1899, listed Tokyo S/E,
capital Yen 397,199 million, sales Yen 3,071,609 million, operating profit Yen
114,647 million, recurring profit Yen 92,024 million, net profit Yen 30,434,
total assets Yen 2,580,946 million, net worth Yen710,666 million, employees
102,375, pres N Endo
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales overhead projectors, slide projectors, display goods, other
(--100%)
Clients: [Mfrs,
wholesalers] Exports to USA (NEC Display Solutions of America Inc), Asia,
other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] NEC Corp, Ushio Inc, Seiko Epson Corp, NEC Nagano Inc, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (H/O)
MUFG
(Tamachi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
74,500 |
72,163 |
73,869 |
76,215 |
|
Recur.
Profit |
|
1,100 |
1,009 |
2,634 |
1,907 |
|
Net
Profit |
|
790 |
786 |
1,321 |
5,186 |
|
Total
Assets |
|
|
35,404 |
32,234 |
27,320 |
|
Current
Assets |
|
|
34,859 |
31,549 |
26,162 |
|
Current
Liabs |
|
|
27,063 |
24,765 |
21,667 |
|
Net
Worth |
|
|
2,234 |
1,396 |
130 |
|
Capital,
Paid-Up |
|
|
3,000 |
3,000 |
1,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.24 |
-2.31 |
-3.08 |
14.50 |
|
|
Current Ratio |
|
.. |
128.81 |
127.39 |
120.75 |
|
N.Worth Ratio |
.. |
6.31 |
4.33 |
0.48 |
|
|
R.Profit/Sales |
|
1.48 |
1.40 |
3.57 |
2.50 |
|
N.Profit/Sales |
1.06 |
1.09 |
1.79 |
6.80 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.71 |
|
UK Pound |
1 |
Rs.105.14 |
|
Euro |
1 |
Rs.90.03 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.