MIRA INFORM REPORT

 

 

 

Report Date :

19.06.2013

 

IDENTIFICATION DETAILS

 

Name :

IMATION CORPORATION JAPAN

 

 

Registered Office :

Aoyama Oval Bldg 11F, 5-52-2 Jingumae Shibuyaku Tokyo 150-0001

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

May 1996

 

 

Com. Reg. No.:

0110-01-063811 (Tokyo-Shibuyaku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

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

 

COMPANY NAME

 

IMATION CORPORATION JAPAN

 

 

REGD NAME   

 

Imation KK

 

 

MAIN OFFICE

 

Aoyama Oval Bldg 11F, 5-52-2 Jingumae Shibuyaku Tokyo 150-0001 JAPAN

Tel: 03-5774-3901      Fax: 03-5774-3903

 

URL:                 Error! Hyperlink reference not valid.

E-Mail address: (thru the URL)

 

 

ACTIVITIES     

 

Import, export, wholesale of AV equipment, memory systems, other

 

 

BRANCHES

 

Osaka, Fukuoka

 

 

OVERSEAS     

 

USA (parent)

 

 

OFFICERS       

 

KUNIYOSHI MATSUI, PRES       Masashi Katsura, mgn dir

Noritaka Ozawa, dir                    Hideaki Takahashi, dir

Moneta Sekine, dir        

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY      

 

FINANCES        FAIR                 A/SALES          Yen 18,465 M

PAYMENTS      REGULAR         CAPITAL           Yen 480 M

TREND             SLOW               WORTH                        Yen 2,699 M

STARTED         1996                 EMPLOYES      130

 

 

COMMENT      

 

TRADING FIRM SPECIALIZING IN AV EQUIPMENT & ACCESSORIES.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 414.2 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

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.

 

 

FINANCIAL INFORMATION

           

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.  Max credit limit is estimated at Yen 414.2 million, on 30 days normal terms.

 

 

REGISTRATION

 

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.

 

OPERATION

           

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: Regular

 

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

 

 

FINANCES

 

 (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.

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.