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Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
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Name : |
JAPAN DISPLAY EAST INC |
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Registered Office : |
3300 Hayano Mobara City Chiba-Pref 297-0037 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
October, 2002 |
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Com. Reg. No.: |
0400-01-059563 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of LCD panels |
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No. of Employees : |
900 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 |
|
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 |
JAPAN DISPLAY EAST
INC
KK Japan Display East
3300 Hayano Mobara City Chiba-Pref 297-0037 JAPAN
Tel: 0475-23-1111
URL: N/A
Mfg of LCD panels
Nil
At the caption address
YASUHIRO NISHI, PRES
Isao Fukui, mgn dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES WEAK A/SALES Yen 133,151 M
PAYMENTS SLOW CAPITAL Yen 35,274 M
TREND SLOW WORTH Yen (-) 24,324 M
STARTED 2002 EMPLOYES 900
MFR OF LCD PANELS.
FINANCIAL SITUATION CONSIDERED WEAK BUT SHOULD BE GOOD FOR MODERATE
BUSINESS ENGAGEMENTS.
The subject company was established by Yasuhiro Nishi in order to make
most of his experience in the subject line of business. This is a specialized mfr of LCD panels for
middle/small displays. It is an mfg
division of Japan Display Inc, Tokyo.
Goods are wholly shipped to the parent and group firms.
The sales volume for Mar/2012 fiscal term amounted to Yen 133,157
million, a 7% down from Yen 143,648 million in the previous term. The operations continued in the red to register
Yen 8,846 million recurring loss and Yen 2,156 million net losses for the term,
compared with Yen 1,999 million recurring loss and Yen 6,171 million net
losses, respectively, a year ago.
For the current term ending Mar 2013 the operations are projected to
come back to profitability but still limited to a minimum amount post-taxes, on
a similar turnover, at Yen 134,000 million.
The financial situation is considered WEAK but should be good for
MODERATE business engagements.
Date Registered: Oct
2002
Regd No.: 0400-01-059563
(Chiba-Mobara)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 3.6 million shares
Issued:
901,936 shares
Sum: Yen
35,274 million
Major shareholders
(%): Japan Display Inc* (100)
*.. Mfr of LCD panels, Tokyo, founded in 2011 by a merger of three
parties: Sony Mobile Display, Toshiba Mobile Display and Hitachi Displays,
capital Yen 230,000 million, sales Yen 450,000 million (targeted), employees
6,200, pres Shuichi Otsuka.
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures LCD
panels for mid/small displays (--100%)
Clients: [Mfrs,
wholesalers] Japan Display Inc and group firms
No. of accounts: Limited
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Renesas Electronics Sales, Hitachi Hi-Technologies, Hitachi
Procurement Services, AMC Japan, Nikon Corp, Chimei Innolux Corp, other
Payment record: Slow
Location: Business area in
Mobara, Chiba-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Corporate Bank (H/O)
MUFG (Tokyo)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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134,000
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133,151
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143,648
|
147,707
|
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Recur.
Profit |
|
0 |
-8,846
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-1,999
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-5,436
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Net
Profit |
|
0 |
-2,156
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-6,171
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-16,432
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Total
Assets |
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88,700
|
97,599
|
145,973
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Current
Assets |
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46,665
|
58,102
|
56,474
|
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Current
Liabs |
|
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74,485
|
109,083
|
149,397
|
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Net
Worth |
|
|
-24,324
|
-22,168
|
-15,997
|
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Capital,
Paid-Up |
|
|
35,274
|
35,274
|
35,274
|
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.64 |
-7.31
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-2.75
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-15.88
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Current Ratio |
|
.. |
62.65
|
53.26
|
37.80
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N.Worth Ratio |
.. |
-27.42
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-22.71
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-10.96
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R.Profit/Sales |
|
0.00 |
-6.64
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-1.39
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-3.68
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N.Profit/Sales |
0.00 |
-1.62
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-4.30
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-11.12
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Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
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Euro |
1 |
Rs.71.78 |
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.