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Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
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Name : |
MELCO ADVANCED DEVICE CORPORATION |
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Registered Office : |
970 Takakicho Higashiharabaru Isahaya Nagasaki-Pref 859-0133 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
February, 2005 |
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Com. Reg. No.: |
3100-01-008587 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of semiconductor devices |
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No. of Employees : |
134 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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.
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Source : CIA |
MELCO ADVANCED
DEVICE CORPORATION
Melco Advanced Device KK
970 Takakicho Higashiharabaru Isahaya Nagasaki-Pref 859-0133 JAPAN
Tel: 0957-32-5677
URL: http://www.mitsubishi.com (Of the parent,
Mitsubishi Electric Corp)
E-Mail address: (thru the URL)
Mfg of semiconductor devices
Nil
At the caption address
AKIHIRO SHIMA, PRES Tetsuo
Shiba, mgn dir
Yoshitomi Yoshimoto, dir Hisashi
Hiraki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 5,294 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
50 M
TREND SLOW WORTH Yen 645 M
STARTED 2005 EMPLOYES 134
MFR OF SEMICONDUCTOR DEVICES, OWNED BY MITSUBISHI ELECTRIC CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the basis of a division separated
from Mitsubishi Electric Corp (See REGISTRATION). This is a specialized mfr of semiconductor
devices. Materials are supplied from the
parent, and products are all shipped to the parent, Mitsubishi Electric Corp.
Financials are consolidated by the parent and only partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 5,294 million,
a 7% down from Yen 5,686 million in the previous term. Semiconductor business saw a decrease in
orders compared with previous fiscal year due to a decline in demand mainly for
industrial-use power modules, as well as high-frequency optical transmission
devices. The operations plunged into the
red to post Yen 152 million net losses, compared with Yen 12 million net profit
a year ago.
For the current term ending Mar 2013 the net profit is projected at Yen
15 million, on a similar turnover, at Yen 5,900 million. Demand of power semiconductors is receding,
and that for LCD products is edging down.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Feb
2005
Regd No.: 3100-01-008587
(Nagasaki-Isahaya)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 20,000 shares
Issued:
5,000
shares
Sum: Yen
50 million
Major shareholders
(%): Mitsubishi Electric
Corp* (99), Melfis Co (1)
No. of
shareholders: 2
*.. Comprehensive electrical machinery mfr ranked 3rd, Tokyo,
founded 1921, listed Tokyo S/E, capital Yen 175,820 million, sales Yen
1,639,468 million, operating profit Yen 225,444 million, recurring profit Yen
224,080 million, net profit Yen 112,063 million, total assets Yen 3,354,575
million, net worth Yen 1,126,975 million, employees 117,314, pres Ken’ichiro
Yamanishi
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
semiconductor devices (100%)
Clients: [Mfrs,
wholesalers] Mitsubishi Electric Corp and group firms
No. of accounts: 1
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Electric Corp and group firms
Payment record: Slow but Correct
Location: Business area in
Isahaya, Nagasaki-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Shinwa Bank (Nagasaki)
MUFG (Nagasaki)
Relations: Satisfactory
(In Million Yen)
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31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual Sales |
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5,300 |
5,294 |
5,686 |
6,069 |
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Recur. Profit |
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Net Profit |
|
15 |
-152 |
12 |
83 |
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Total Assets |
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|
2,285 |
N/A |
2,283 |
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Net Worth |
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|
645 |
797 |
785 |
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Capital, Paid-Up |
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|
50 |
50 |
50 |
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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 |
0.11 |
-6.89 |
-6.31 |
3.62 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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28.23 |
.. |
34.38 |
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N.Profit/Sales |
0.28 |
-2.87 |
0.21 |
1.37 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.97 |
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|
1 |
Rs.83.17 |
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Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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.