|
Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
IMATION CORPORATION JAPAN |
|
|
|
|
Registered Office : |
Aoyama Oval Bldg 11F, 5-52-2 Jingumae Shibuyaku Tokyo 150-0001 |
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|
|
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Country : |
Japan |
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|
|
|
Financials (as on) : |
31.12.2012 |
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|
|
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Date of Incorporation : |
May 1996 |
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|
|
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Com. Reg. No.: |
0110-01-063811
(Tokyo-Shibuyaku) |
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|
|
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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|
|
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Line of Business : |
Import, export, wholesale of
AV equipment, memory systems, other |
|
|
|
|
No. of Employees : |
130 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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 |
IMATION
CORPORATION JAPAN
Imation KK
Aoyama Oval Bldg 11F,
5-52-2 Jingumae Shibuyaku Tokyo 150-0001 JAPAN
Tel:
03-5774-3901 Fax: 03-5774-3903
E-Mail
address: (thru the URL)
Import,
export, wholesale of AV equipment, memory systems, other
Osaka,
Fukuoka
USA
(parent)
KUNIYOSHI
MATSUI, PRES Masashi Katsura, mgn
dir
Noritaka
Ozawa, dir Hideaki
Takahashi, dir
Moneta
Sekine, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 18,465 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
480 M
TREND SLOW WORTH Yen 2,699 M
STARTED 1996 EMPLOYES 130
TRADING FIRM SPECIALIZING IN AV EQUIPMENT & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Imation Corp (USA) as
its marketing arm in Japan. This is a trading
firm for import, export and wholesale of AV equipment & accessories: secure
& scalable storage, audio & video information, defender collection,
other. Clients include electronics
makers, wholesalers, other.
The sales volume for Dec/2011 fiscal term amounted to Yen
18,465 million, an 8% down from Yen 20,029 million in the previous term. The recurring profit was posted at Yen 195
million and the net profit at Yen 97 million, respectively, compared with Yen
262 million recurring profit and Yen 210 million net profit, respectively, a
year ago.
For the term that ended Dec 2012 the recurring profit was
projected at Yen 200 million and the net profit at Yen 100 million,
respectively, on a 3% rise in turnover, to Yen 19,000 million. Final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: May 1996
Regd No.: 0110-01-063811 (Tokyo-Shibuyaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
15,000 shares
Issued:
15,000 shares
Sum: Yen 480 million
Major shareholders (%): Imation Corp (62), Asia Pacific
Pte Ltd (38)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales AV
equipment & accessories: traditional storage (optical & magnetic)
optical disk, magnetic tapes; secure & scalable storage (flash & HDD)
RDX, USB flash memory; audio & video information (digital audio &
accessories) headphone, speaker, consumer accessories; defender collection
(high security products) flash hard disk, optical disk, others (--100%)
Clients: [Mfrs, wholesalers] Askul Corp,
Daiwabo Information System, Synex Infotec Corp, Otsuka Corp, Centrade ME Ltd,
other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] IBM Japan, Hitachi
Maxell, Dell, Mitsubishi Chemical Media, TDK, Eizo Nanao Corp, Start Lab 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
(Tokyo)
MUFG (Shibuya-Meijidori)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
Annual
Sales |
|
19,000 |
18,465 |
20,029 |
21,737 |
|
Recur.
Profit |
|
200 |
195 |
262 |
715 |
|
Net
Profit |
|
100 |
97 |
210 |
468 |
|
Total
Assets |
|
|
7,325 |
9,921 |
9,281 |
|
Current
Assets |
|
|
6,881 |
9,411 |
|
|
Current
Liabs |
|
|
3,857 |
5,823 |
|
|
Net
Worth |
|
|
2,699 |
3,315 |
3,105 |
|
Capital,
Paid-Up |
|
|
480 |
480 |
480 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.90 |
-7.81 |
-7.86 |
2.15 |
|
|
Current Ratio |
|
.. |
178.40 |
161.62 |
.. |
|
N.Worth Ratio |
.. |
36.85 |
33.41 |
33.46 |
|
|
R.Profit/Sales |
|
1.05 |
1.06 |
1.31 |
3.29 |
|
N.Profit/Sales |
0.53 |
0.53 |
1.05 |
2.15 |
|
|
Return On Equity |
.. |
3.59 |
6.33 |
15.07 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
UK Pound |
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.