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Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
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Name : |
THIRDWAVE CORPORATION |
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Registered Office : |
Dai-1 Dempa Bldg 5F, 2-4-4 Sotokanda Chiyodaku Tokyo 101-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
March, 1984 |
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Com. Reg. No.: |
0100-01-018053 |
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Legal Form : |
Limited Company |
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Line of Business : |
Holding company of six group firms; wholesales radioactive measuring
instruments; manages office buildings, shops, apartment houses, other
(--100%). |
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No. of Employees : |
45 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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.
|
Source : CIA |
THIRDWAVE
CORPORATION
KK Third Wave
Dai-1 Dempa Bldg 5F, 2-4-4 Sotokanda Chiyodaku Tokyo 101-0021 JAPAN
Tel: 03-5294-6327 Fax:
03-5294-6332
*.. Moved to the caption address in Aug 2012 from the former as given
URL: http://www.twave.co.jp/
E-mail: (thru
the URL)
Holding company of 6 group firms
Nagoya
Kyiv (Ukraine), China
KENSUKE OZAKI, PRES
Tsutomu Yoshikawa, dir
Yusuke Ozaki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 29,500 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
40 M
TREND STEADY WORTH Yen 2,473 M
STARTED 1999 EMPLOYES 45
HOLDING COMPANY OF SIX GROUP FIRMS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ODINARY BUSINESS
ENGAGEMENTS
The subject company was established for sales of PC & peripherals,
as Thirdwave Corporation. Opened the
first shop in Akihabara, known as the Electric Town, Tokyo. Operated a total 30 stores nationwide, named
“DOSPARA”. In Aug 2012 the firm
separated into six companies: Thirdwave Corporation, Dospara Co Ltd, Thirdwave
Diginnos Co Ltd, Thirdwave Technologies Co Ltd, Evergreen Co Ltd and Reproela
Co Ltd, and it became the holding company.
Kensuke Ozaki presides all the group firms. The former holding company, Thirdwave
Holdings Corporation was dissolved. The
firm also wholesales radioactive measuring instruments, and manages real estate
(buildings, offices, shops, etc), too.
The sales volume for Jul/2012 fiscal term amounted to Yen 29,500
million, a slight down from Yen 29,600 million in the previous term. The net profit was posted at Yen 44 million,
compared with Yen 200 million a year ago.
For the current term ending Jul 2013 the net profit is projected at Yen
50 million, on a 3% rise in turnover, to Yen 30,300 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar
1984
Regd No.: 0100-01-018053 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 320,000 shares
Issued: 80,000
shares
Sum: Yen
40 million
Major shareholders
(%):
Kensuke Ozaki, Yusuke Ozaki,
other (--100)
No. of shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Holding company
of six group firms; wholesales radioactive measuring instruments; manages
office buildings, shops, apartment houses, other (--100%).
Clients: [Makers,
wholesalers] Dospara Co, Thirdwave Technologies, Evergreen, Reproela Co,
Thirdwave Digginos, other
No. of accounts: 30
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from Ukraine, China, other.
Imports from USA,
other.
Payment record: Slow but Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Kanda)
Resona Bank (Akihabara)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
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Annual Sales |
|
30,300 |
29,500 |
29,600 |
26,161 |
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Recur. Profit |
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Net Profit |
|
50 |
44 |
200 |
212 |
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Total Assets |
|
|
8,691 |
8,727 |
7,133 |
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Current Assets |
|
|
6,475 |
6,905 |
5,370 |
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Current Liabs |
|
|
3,432 |
3,710 |
3,296 |
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Net Worth |
|
|
2,473 |
2,615 |
2,420 |
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Capital, Paid-Up |
|
|
40 |
40 |
40 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.71 |
-0.34 |
13.15 |
-1.09 |
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Current Ratio |
|
.. |
188.67 |
186.12 |
162.92 |
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N.Worth Ratio |
.. |
28.45 |
29.96 |
33.93 |
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R.Profit/Sales |
|
.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.17 |
0.15 |
0.68 |
0.81 |
|
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Return On Equity |
.. |
1.78 |
7.65 |
8.76 |
|
Notes: Forecast (or estimated) figures for the 31/07/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
---- |
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.