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Report Date : |
24.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SYSTEC INTERNATIONAL INC |
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Registered Office : |
Okina Bldg, 3-2-9 Nishi-Tenma Kitaku |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
March 1993 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of AV equipment & products |
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No. of Employees : |
20 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually 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 – 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 |
|
High |
B2 |
|
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
SYSTEC INTERNATIONAL INC
REGD NAME: Systec
International KK
MAIN OFFICE: Okina
Bldg, 3-2-9 Nishi-Tenma Kitaku Osaka 530-0047 JAPAN
Tel:
06-6363-4601 Fax: 06-6363-3666
URL: http://www.systecintl.com
E-Mail address: infohq@systecintl.com
Export of AV
equipment & products
Nil
Dubai
HIROFUMI TAKINO,
PRES Hidemitsu Arata, dir
Toshie Takase, dir Mihoko Koshikawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,959 M
PAYMENTS USUALLY
CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 243 M
STARTED 1993 EMPLOYES 20
EXPORT OF AV EQUIPMENT, COMPONENTS, DEVICES, OTHERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established by Hirofumi Takino in order to make most of his experience in the
subject line of business. This is a
trading firm, with mfg division, for export of AV equipment, devices, other. Offers services as system integration,
technical, maintenance & spare parts supplies. It serves to broad range of clients from
broadcasters to educational institutions.
Has Dubai Branch Office to cover the areas.
Financials are only partially
disclosed.
The sales volume for Dec/2012 fiscal term
amounted to Yen 1,959 million, a 19% down from Yen 2,411 million in the
previous term. The recurring profit was
posted at Yen 24 million and the net profit at Yen 15 million, respectively, compared
with Yen 10 million net profit a year ago.
For the current term
ending Dec 2013 the recurring profit is projected at Yen 30 million and the net
profit at Yen 20 million, respectively, on a 5% rise in turnover, to Yen 2,050
million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar
1993
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,000 shares
Issued: 2,000 shares
Sum: Yen 100 million
Major
shareholders (%): Hirofumi Takino (49), other
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for export and wholesale of:
Panasonic CCTV & support products, broadcast-pro AV products, Panasonic
display & system support products, AV components & supplies, offering
such services as system integration, technical, advice, maintenance & spare
parts supplies (--100%)
Clients: [Mfrs,
wholesalers] Exports to Philippines, UAE, Iran, Pakistan, Vietnam, Korea,
Taiwan, Singapore, Hong Kong, Bulgaria, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Panasonic Corp, Canon Inc, TOA, IDX, Heiwa Seiki Kogyo, Komamura
Corp, Kanare Electric Co, Leader Electronics Corp, other
Payment record: Usually Correct
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Umeda)
MUFG
(Umeda-Shindo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual
Sales |
|
2,050 |
1,959 |
2,411 |
2,098 |
|
Recur.
Profit |
|
30 |
24 |
.. |
11 |
|
Net
Profit |
|
20 |
15 |
10 |
8 |
|
Total
Assets |
|
|
564 |
N/A |
654 |
|
Net
Worth |
|
|
243 |
228 |
218 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.65 |
-18.75 |
14.92 |
-8.98 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
43.09 |
.. |
33.33 |
|
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N.Profit/Sales |
0.98 |
0.77 |
0.41 |
0.38 |
|
Notes: Financials are
only partially disclosed.
Forecast (or
estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.35 |
|
|
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
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 |
|
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.