|
Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
LOGITEC INA SOLUTIONS CO LTD |
|
|
|
|
Registered Office : |
8268-1000 Misuzu Ina City Nagano-Pref 396-0001 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
October 2010 |
|
|
|
|
Com. Reg. No.: |
1000-01-023959 (Nagano-Ina) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufactures PC’s & peripherals, software |
|
|
|
|
No. of Employees : |
65 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Regular |
|
Litigation : |
--- |
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 |
LOGITEC INA SOLUTIONS CO LTD
REGD NAME: Logitec
Ina Solutions KK
MAIN OFFICE: 8268-1000
Misuzu Ina City Nagano-Pref 396-0001 JAPAN
Tel:
0265-74-1411 Fax: 0265-74-1400
URL: http//:www.logitec-inas.co.jp
E-mail: (thru the URL)
Mfg of
PC’s, peripherals, software
Tokyo
At the
caption address
JUNJI
HADA, PRES Koji Kajiura,
dir
Shun’ichi
Hirasawa, dir Osamu
Shintaku, dir
Masaki
Tanaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,365 M
PAYMENTSREGULAR CAPITAL Yen
100 M
TREND UP WORTH Yen 448 M
STARTED 2010 EMPLOYES 65
MFR OF
PC’S & PERIPHERALS, WHOLLY OWNED BY LOGITEC CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMNTS.
The subject
company was established on the basis of Nagano Factory of Logitec Corporation
(See REGISTRATION) separated as an
independent entity. All members of Nagano
Factory moved to the new company. Junji
Hada is concurrently pres at the parent.
Executives are all the same with the parent. Operations started in Apr 2011. This is a specialized mfr of PC’s &
peripherals, networking equipment, software, other. Goods are all shipped to the parent.
The sales
volume for Mar/2012 fiscal term for virtually the initial term amounted to Yen
3,365 million. The net profit was posted
at Yen 248 million. The firm reported
sales in the Sept/2011 interim term at Yen 1,456 million and net profit at Yen
92 million.
For the
current term ending Mar 2013 the net profit is projected at Yen 260 million, on
a 4% rise in turnover, to Yen 3,500 million.
Financial situation considered FAIR
and good for ORDINARY business engagements.
Date Registered: Oct
2010
Regd No.: 1000-01-023959 (Nagano-Ina)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 8,000
shares
Issued: 2,000
shares
Sum: Yen 100 million
Major shareholders (%):
Logitec Corp* (100)
*.. Mfr of networking equipment,
storage products, PC’s & peripherals, Tokyo, founded
1992, capital Yen 200 million,
sales Yen 6,278 million, net profits Yen 264 million, employees 30, pres Junji
Hada, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures PC’s & peripherals,
software, other (--100%)
Clients: [Mfr, wholesalers] Elecom Corp,
Hitachi High Technologies, consumers, other
No. of
accounts: 100
Domestic
areas of activities: Nationwide
Suppliers [Mfrs, wholesalers] Takebishi Corp,
Ryoyo Electro Co, other.
Payment record:
Regular
Location:
Business area in Ina City, Nagano=pref.
Office premises at the caption address are owned by the parent, Logitec
Corp, and maintained satisfactorily.
Bank References:
SMBC
(Bingomachi)
MUFG
(Osaka-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
3,500 |
3,365 |
0 |
|
Recur.
Profit |
|
|
|
|
|
Net
Profit |
|
260 |
248 |
-1 |
|
Total
Assets |
|
|
1,412 |
198 |
|
Current
Assets |
|
|
1,360 |
198 |
|
Current
Liabs |
|
|
961 |
1 |
|
Net
Worth |
|
|
448 |
198 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.01 |
- - |
- - -.. |
|
|
Current Ratio |
|
.. |
141.52 |
19,800.00 |
|
N.Worth Ratio |
.. |
31.73 |
100.00 |
|
|
R.Profit/Sales |
|
.. |
.. |
.. |
|
N.Profit/Sales |
7.43 |
7.37 |
- - - |
|
|
Return On Equity |
.. |
55.36 |
-0.51 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.