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Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
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Name : |
SILICON PLUS CORPORATION |
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Registered Office : |
Okachi-Kayabacho
Bldg 8F, 1-3-12 Nihombashi-Kayabacho Chuoku 103-0025 |
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Country : |
Japan |
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Date of Incorporation : |
January 2006 |
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Com. Reg. No.: |
0100-01-120805 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Processing of
solar cells |
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No. of Employees : |
50 (approx) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
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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.
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Source : CIA |
SILICON PLUS
CORPORATION
KK Silicon Plus
Okachi-Kayabacho Bldg
8F, 1-3-12 Nihombashi-Kayabacho Chuoku 103-0025 JAPAN
Tel:
03-5614-2822
URL: N/A
Processing of solar
cells
Nil
Yamagata
EIZO WATANABE, PRES
Yuki Watanabe, dir
Takanori Honma, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES UNDISCLOSED
PAYMENTS Unknown
CAPITAL Yen 80 M
TREND UNDETD WORTH UNDISCLOSED
STARTED 2006 EMPLOYES 50 (approx)
PROCESSOR OF SOLAR
CELLS.
FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Eizo Watanabe in
order to make most of his experience in the subject line of business. This is a processor of solar cells. Material solar grade silicon is supplied from
Elkem Japan, of Norwegian capital, mfr of solar grade silicon, silicon And the firm processes the silicon “ESS” at
the Yamagata Plant into ingots and wafers and shipped back to Elkem Japan. Clients include semiconductor mfrs.
Financial are not disclosed. The firm declined to disclose them, saying that anything that are material in transactions are disclosed to the direct partners and clients, and not to be openly disclosed to third parties.
Financial situation is considered FAIR and good for ORDINARY business engagements. . We rate this from the business relationships with Elkem Japan, who recently donated roof-top solar cells to the earthquake-stricken schools.
Date Registered: Jan
2006
Regd No.: 0100-01-120805 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 6,400 shares
Issued:
1,600 shares
Sum: Yen 80 million
Major shareholders (%): Eizo Watanabe (100)
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures and processes solar cells
(100%).
Clients: Semiconductor mfrs, other
No. of accounts: 100
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Elkem Japan, Daiichi Bussan Co, Yamagata Sanso
Corp, other
Payment record: Unknown
Location: Business area in Tokyo. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Aoyamadori)
Relations: Satisfactory
(In Million Yen)
NOT DISCLOSED AND
UNAVAILABLE
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.77 |
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UK Pound |
1 |
Rs.81.57 |
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Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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.