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Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
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Name : |
OKAMOTO ELECTRONICS CORPORATION |
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Registered Office : |
4-8-4 Nipponbashi Naniwaku Osaka 556-0005 |
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Country : |
Japan |
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Financials (as on) : |
31/03/2012 |
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Date of Incorporation : |
May 1985 |
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Com. Reg. No.: |
1200-01-037604 (Osaka-Naniwaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of electronic equipment, parts, components |
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No. of Employees : |
535 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit: |
Yen 991.9 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 – 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 |
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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
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
OKAMOTO ELECTRONICS CORPORATION
REGD NAME: Okamoto
Musen Denki KK
MAIN OFFICE: 4-8-4
Nipponbashi Naniwaku Osaka 556-0005 JAPAN
Tel:
06-6643-4671 Fax: 06-6633-6389
*.. The is its
Higashi-Osaka Branch Office
E-Mail address: (thru the URL)
Import, export,
wholesale of electronic equipment, parts, components
Tokyo, Sendai,
Nagoya, Kyoto, Himeji, Hiroshima, Fukuoka (Tot 16)
China (3), Hong
Kong, Singapore, Thailand, Vietnam
HIROSHI OKAMOTO,
PRES Akihiko Kurano, dir
Ryuichi
Hashiguchi, dir Tsutomu
Hosobuchi, dir
Yoshiyuki
Nakashima, dir Yoshinori
Fukuma, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 36,457 M
PAYMENTSREGULAR CAPITAL Yen
350 M
TREND SLOW WORTH Yen 7,019 M
STARTED 1985 EMPLOYES 535
TRADING FIRM SPECIALIZING IN ELECTRONIC MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 991.9 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established originally in 1940 by Katsuyoshi Okamoto for selling electronic
parts, on his account. Incorporated in
1950, and then in 1985 reorganized by merging sister companies, the present
Okamoto Electronics Corporation was established. Hiroshi is the founder’s son. This is a trading firm specializing in
import, export and wholesale of electronics parts & equipment:
semiconductors, automation components, measuring instruments, tools,
other. Goods are actively exported. Domestic suppliers include major electronics
mfrs, wholesalers, other, nationwide.
The sales volume for
Mar/2012 fiscal term amounted to Yen 36,457 million, a 6% down from Yen 38,974
million in the previous term. High Yen
hurt exports, reducing revenues and profits in Yen terms. The recurring profit was posted at Yen 155
million and the net profit at Yen 44 million, respectively, compared with Yen
484 million recurring profit and Yen 288 million net profit, respectively, a
year ago.
For the term that ended
Mar 2013 the recurring profit was projected at Yen 160 million and the net
profit at Yen 45 million, respectively, on a 2% rise in turnover, to Yen 37,000
million. Final results are yet to be
released.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 991.9
million, on 30 days normal terms.
Date Registered: May 1985
Regd No.:
1200-01-037604 (Osaka-Naniwaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7,200 shares
Issued: 1,800 shares
Sum: Yen 350 million
Major
shareholders (%): Ohtori Corp* (100)
*.. Ohtori Corp, Osaka, founded 1950,
trading firm specializing in the similar line of business with the subject, and
a sister company, presided by Hiroshi Okamoto concurrently, with executives and
employees the same with the subject, sales Yen 2,092 million, net profit Yen
204 million, employees 5, pres Hiroshi Okamoto, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales electronics parts & components (50%), semiconductors (35%),
automatic components (10%), measuring instruments (5%).
Exports
(5%)
Clients: [Mfrs,
wholesalers] Denso Digital Corp, Furuno Electric Co, Daikoku Denki Co,
NORITZ Corp, DX Antenna, RB Controls Inc,
other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sharp Corp, Panasonic Corp, TDK, Murata Mfg Co, Kyocera Corp,
Hirose Electric Co, Sanshin Electric Co, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Namba)
MUFG (Semba-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
37,000 |
36,457 |
38,974 |
33,035 |
|
Recur.
Profit |
|
160 |
155 |
484 |
80 |
|
Net
Profit |
|
45 |
44 |
288 |
42 |
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Total
Assets |
|
|
18,780 |
19,525 |
17,398 |
|
Current
Assets |
|
|
17,565 |
18,193 |
15,804 |
|
Current
Liabs |
|
|
10,420 |
11,420 |
10,069 |
|
Net
Worth |
|
|
7,019 |
6,973 |
6,689 |
|
Capital,
Paid-Up |
|
|
350 |
350 |
350 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
1.49 |
-6.46 |
17.98 |
-17.90 |
|
|
Current Ratio |
|
.. |
168.57 |
159.31 |
156.96 |
|
N.Worth Ratio |
.. |
37.37 |
35.71 |
38.45 |
|
|
R.Profit/Sales |
|
0.43 |
0.43 |
1.24 |
0.24 |
|
N.Profit/Sales |
0.12 |
0.12 |
0.74 |
0.13 |
|
|
Return On Equity |
.. |
0.63 |
4.13 |
0.63 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.41 |
|
|
1 |
Rs.91.62 |
|
Euro |
1 |
Rs.78.12 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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 |
|
<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.