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Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
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Name : |
JAPAN SECURITY SYSTEM INC |
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Registered Office : |
Nihon Seimei Hakata-Ekimae Bldg 12F, 3-2-1 Hakata-Ekimae Hakataku Fukuoka 812-0011 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
August 2004 |
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Com. Reg. No.: |
(Fukuoka-Hakata) 051374 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of security cameras & peripherals |
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No. of Employees : |
21 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Regular |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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.
Source
: CIA
JAPAN SECURITY SYSTEM INC
REGD NAME: KK
Nihon Bouhan System
MAIN OFFICE: Nihon
Seimei Hakata-Ekimae Bldg 12F, 3-2-1 Hakata-Ekimae Hakataku Fukuoka
812-0011 JAPAN
Tel:
072-481-2125 Fax: 072-481-2204
E-Mail address: info@js-sys.com
Wholesale of
security cameras & peripherals
Tokyo, Osaka (2),
Hiroshima
Taiwan
(subcontracted)
IZUMI KAKU, PRES
Fumika Kaku, s/mgn
dir
Tomofumi Nishiyama
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 831 M
PAYMENTSREGULAR CAPITAL Yen
10 M
TREND UP WORTH Yen 173 M
STARTED 2004 EMPLOYES 21
WHOLESALER SPECIALIZING IN SECURITY/MONITOR CAMERAS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Izumi Kaku in order to make most of his experience
in the subject lien of business, as On-Sales KK, and renamed as captioned in
Jan 2009. This is a fabless mfr of security
cameras and peripherals. Products are
also mfr’d on OEM basis. Opened Taipei
Office in Jan 2006. Products are
subcontracted mfg to overseas & domestic mfrs. Closed distributorship agreements with NTT
and Panasonic Corp in Jun 2010. Sales
keep growing.
Financials are only partially disclosed as
from the 31/07/2009 fiscal term.
The sales volume for
Dec/2011 fiscal term amounted to Yen 831 million, a 21% up from Yen 286 million
for irregular 5 months, due to the change in accounting term, in the previous
term. The growth rtes are adjusted on a
12-month basis. Sales growth owes much
to the Great North Japan Earthquake in March 2011, where after the
security/monitoring systems became a necessity and demand grew. The net profit was posted at Yen 29 million,
compared with Yen 11 million a year ago.
For the term that
ended Dec 2012 the net profit was projected at Yen 30 million, on a 5% rise in
turnover, to Yen 870 million. Final results
are yet to be released.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements.
Date Registered: Aug 2004
Regd No.: (Fukuoka-Hakata) 051374
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Izumi Kaku (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures,
imports and exports security cameras: outdoor cameras, one cable cameras, dome
cameras, indoor standard cameras, digital video recorders, dummy cameras,
housing cases, camera/monitor brackets, and peripheral devices (--100%)..
Mfg is subcontracted to makers in China,
USA, Japan, other.
Clients: [Mfrs,
wholesalers, agent dealers] Arucom Inc (10%), Advance Co, Kumaden Co, AD
System, UM Tech Inc, Japan IT Communication Co, Nikko System, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] AV Tech Corp, Geo Vision, other
Imports from USA, China, other
Payment record: Regular
Location: Business area in
Hakata, Fukuoka-Pref. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (Kurume)
Jyuhachi Bank
(Fukuoka)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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31/12/2012 |
31/12/2011 |
31/12/2010 |
31/07/2010 |
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Annual
Sales |
|
870 |
831 |
286 |
770 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
30 |
29 |
11 |
18 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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|
173 |
144 |
133 |
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Capital,
Paid-Up |
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|
10 |
10 |
10 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.69 |
21.13 |
-10.90 |
7.54 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
3.45 |
3.49 |
3.85 |
2.34 |
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Notes: Financials are only partially disclosed.
Accounting term was changed to Jan/Dec from Aug/July from the 31/12/2010
fiscal term. Growth rates are adjusted
on a 12-month basis.
Forecast (or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.37 |
|
|
1 |
Rs.82.07 |
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Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
-- |
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.