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Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
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Name : |
HIJI HIGH-TECH CO LTD |
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Registered Office : |
8133 Ogami Hijimachi Hayamigun Oita-Pref
879-1504 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
July 1986 |
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Com. Reg. No.: |
3200-01-008401
(Oita-Hayamigun) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of LSI,
semiconductor chips |
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No. of Employees : |
53 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
|
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 |
HIJI HIGH-TECH CO LTD
KK Hiji High-Tech
8133 Ogami
Hijimachi Hayamigun Oita-Pref 879-1504 JAPAN
Tel:
0977-44-6300 Fax: 0977-72-6191
URL: http://www.hht.co.jp
E-Mail address: (thru the URL)
Mfg of
LSI, semiconductor chips, other
Tokyo,
Wakamatsu
At the
caption address, Oita (2)
IZUO
IWAO, PRES
Shozo Uto,
s/mgn dir
Masahiro
Iwashita, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FARI A/SALES Yen 991 M
PAYMENTS No
Complaints CAPITAL Yen
161 M
TREND SLOW WORTH Yen
260 M
STARTED 1986 EMPLOYES 53
MFR OF SEMICONDUCTOR LSI.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by father of Izuo Iwao in order to make most of his experience in the subject line of business. This is a specialized mfr of LSI, semiconductor chips and the related. In Jun 2012 the firm accepted the capital investment by Aisin Seiki Co Ltd (See REGISTRATION). Goods are exported. Domestic clients include major electronics makers, other
The sales volume for Mar/2012 fiscal term amounted to Yen 991 million, a 10% down from Yen 1,097 million in the previous term. The operations plunged into the red to post Yen 11 million recurring loss and Yen 97 million net losses, respectively, compared with Yen 122 million recurring profit and Yen 2 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 100 million and the net profit at Yen 50 million, respectively, on a 6% rise in turnover, to Yen 1,050 million. .
The financial situation is considered maintained FAIR and good for ORDINARY business engagements.
Date Registered: Jul 1986
Regd No.: 3200-01-008401 (Oita-Hayamigun)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
12,920 shares
Issued:
3,230 shares
Sum: Yen 161.5 million
Major shareholders (%): Aisin Seiki Co Ltd* (33),
Employees’ S/Holding Assn (21), Nobuhiko Himejima (6), Oita Bank (5), Howa Bank
(5)
No. of shareholders: 15
*.. Aisin Seiki Co Ltd, leading auto parts mfr affiliated with Toyota Motor, Aichi-Pref, founded 1949, listed Tokyo & Nagoya S/E’s, capital Yen 45,049 million, sales Yen 2,304,168 million, operating profit Yen 121,832 million, recurring profit Yen 129,140 million, net profit Yen 55,497 million, total assets Yen 2,062,573 million, net worth Yen 747,059 million, employees 81,782, pres Fumio Fujimori
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures LSI’s, semiconductor chips, electronics appliances, others (--100%)
Clients: [Mfrs, wholesalers] Texas Instruments Japan (38%), Oki Electric Group firms, Sony LSI Design, Aisin Seiki, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Oita Lease, KL Oita, AK Electronics, Personal Management Bank, Aso Human Center, other
Payment record: No Complaints
Location: Business area in Oita. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Oita
Bank (Hiji)
Howa
Bank (Hiji)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
1,050 |
991 |
1,097 |
896 |
|
Recur.
Profit |
|
100 |
-11 |
122 |
|
|
Net
Profit |
|
50 |
-97 |
2 |
8 |
|
Total
Assets |
|
|
1,669 |
1,768 |
1,875 |
|
Current
Assets |
|
|
244 |
270 |
|
|
Current
Liabs |
|
|
723 |
896 |
|
|
Net
Worth |
|
|
260 |
337 |
334 |
|
Capital,
Paid-Up |
|
|
161 |
161 |
161 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.95 |
-9.66 |
22.43 |
-39.50 |
|
|
Current Ratio |
|
.. |
33.75 |
30.13 |
.. |
|
N.Worth Ratio |
.. |
15.58 |
19.06 |
17.81 |
|
|
R.Profit/Sales |
|
9.52 |
-1.11 |
11.12 |
.. |
|
N.Profit/Sales |
4.76 |
-9.79 |
0.18 |
0.89 |
|
|
Return On Equity |
.. |
-37.31 |
0.59 |
2.40 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.