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Report Date : |
19.03.2013 |
IDENTIFICATION DETAILS
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Name : |
PICO INC |
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Registered Office : |
Aqua City Shibaura 9F, 4-16-23 Shibaura Minatoku Tokyo 108-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2012 |
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Date of Incorporation : |
September 1977 |
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Com. Reg. No.: |
0104-01-024826
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of
electronics communication equipment & components |
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No. of Employees : |
53 |
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 : |
Small company |
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Payment Behaviour : |
Regular |
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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 |
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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 |
PICO INC
REGD NAME: Pico
KK
MAIN OFFICE: Aqua
City Shibaura 9F, 4-16-23 Shibaura Minatoku Tokyo 108-0023 JAPAN
Tel:
03-3418-7671 Fax: 03-5418-7680
URL: http://www.picodenshi.com/
E-Mail
address: (thru the URL)
Import,
wholesale of electronics communication equipment & components
Osaka,
Nagoya
China
(2), Singapore, Malaysia, Thailand, Hong Kong, Taiwan, USA
KOICHI
OHSHIMA, PRES
Akihisa
Ohshima, s/mg dir
Takae
Ohshima, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,472 M
PAYMENTS REGULAR CAPITAL Yen 60 M
TREND SLOW WORTH Yen
651 M
STARTED 1977 EMPLOYES 53
IMPORTER
OF ELECTRONIC COMMUNICATION EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Akiyoshi Ohshima, in order to make most of his
experience in the subject line of business.
Koichi is his son, who took the pres office in Oct 2003. This is a trading firm, wholly owned and
operated by the Ohshima family, for import and wholesale of electronic
communication equipment and components: fuses, test probes, switches, LED
analyzers, and other tools. Operates
overseas offices in China (2), Taiwan, Thailand, Singapore, USA, other. Clients include major electronics mfrs
nationwide.
Financials are only partially
disclosed as is the case with family-based companies.
The sales volume for Oct/2012 fiscal
term amounted to Yen 1,472 million, a 5% down from Yen 1,547 million in the
previous term. Product prices were down
due to competition among the traders.
Exports decreased. The net profit
was posted at Yen 63 million, compared with Yen 66 million a year ago.
For
the current term ending Oct 2013 the net profit is projected at Yen 65 million,
on a 4% rise in turnover, to Yen 1,530 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Sept 1977
Regd No.: 0104-01-024826 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
480,000 shares
Issued:
120,000 shares
Sum: Yen 60
million
Major shareholders (%): Koichi Ohshima (51), Akihisa
Ohshima (30), Takae Ohshima (16)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales electronic
communication equipment & components: fuses, test probes, switches, LED
analyzers, and related goods (--100%)
Domestic sales (66.3%), Exports
(30.4%), Commission revenues (3.2%), Royalty income (0.1%)
Clients: [Electronics mfrs] Sony Corp, Toshiba
Corp, Cannon Inc, Sanyo Electric, Sharp Corp, IBM Japan, Hitachi Ltd, Kyocera
Corp, JVC, Panasonic Corp, other.
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sky Gate, Cooper
Bussmann, Conquer Electronics, Hollyland Co, INALWAYS Corp, QA Technologies,
INPAQ, Fuse Tech, Pacific Engineering Corp, other.
Imports from China, Malaysia,
Singapore, Thailand, Hong, Taiwan, USA, other.
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Shimbashi)
Resona
Bank (Tamachi)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
|
31/10/2013 |
31/10/2012 |
31/10/2011 |
31/10/2010 |
|
Annual
Sales |
|
1,530 |
1,472 |
1,547 |
1,472 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
65 |
63 |
66 |
27 |
|
Total
Assets |
|
|
1,289 |
N/A |
N/A |
|
Net
Worth |
|
|
651 |
588 |
522 |
|
Capital,
Paid-Up |
|
|
60 |
60 |
60 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.94 |
-4.85 |
5.10 |
-21.70 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
50.50 |
.. |
.. |
|
|
N.Profit/Sales |
4.25 |
4.28 |
4.27 |
1.83 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/10/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.70.01 |
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.