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Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
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Name : |
HEMISPHERE INC |
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Registered Office : |
Sophia Kamiyacho Bldg 2F, 16-3 Kamiyacho Nakaharaku Kawasaki 211-001 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
April 2006 |
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Com. Reg. No.: |
0200-01-081389
(Kawasaki-Nakaharaku) |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import, wholesale of GPS goods, GPS boards |
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No. of Employees : |
05 |
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 : |
Slow but Correct |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
|
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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
HEMISPHERE INC
YK Hemisphere
Sophia Kamiyacho
Bldg 2F, 16-3 Kamiyacho Nakaharaku Kawasaki 211-0015 JAPAN
Tel:
044-223-7071 Fax: 044-223-7072
E-mail: sales@hemgps.com
Import,
wholesale of GPS goods, GPS boards
Nil
YOSHIHISA
OGAWA, PRES
Masaaki
Honda, dir
Satoshi
Kitaoka, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 140 M
PAYMENTS Slow
but Correct CAPITAL Yen 3 M
TREND SLOW WORTH Yen 23 M
STARTED 2006 EMPLOYES 5
TRADING
FIRM SPECIALIZING IN GPS GOODS & BOARDS
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Yoshihisa Ogawa on obtaining import agency agreement from Hemisphere GPS, Canada, a division of CSI Wireless Inc. Imports GPS goods & boards: GPS receivers, boards, compass, other. .
Financials are only partially disclosed.
The sales volume for Dec/2012 fiscal term amounted to Yen 140 million, a 3% up from Yen 136 million in the previous term. The net profit was posted at Yen 5 million, similarly in the previous period.
For the current term ending Dec 2013 the net profit is projected at Yen 6 million, on a 7% rise in turnover, to Yen 150 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.
Date Registered: Apr
2006
Regd No.: 0200-01-081389
(Kawasaki-Nakaharaku)
Legal Status: Private Limited Company (Yugen Kaisha)
Regd Capital: Yen 3 million
Major shareholders (%):
Masaaki Honda (50), Satoshi Kitaoka (50)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales GPS receivers, GPS compass, OEM module/boards, imported from Hemisphere GPS, Canada, as sole import agent (--100%)
Clients: [Mfrs, wholesalers] OKE Service, Amtechs Corp, GNSA Technologies, ITS 21 , GI Supply, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers [Mfrs, wholesalers] Imports from Hemisphere GPS, Canada
Payment record: Slow
but Correct
Location: Business area in Kawasaki. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Musashikosugi)
Relations: Money deposits & transfers only
(In Million Yen)
|
Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual
Sales |
|
150 |
140 |
136 |
130 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
6 |
5 |
5 |
3 |
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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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|
23 |
18 |
13 |
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Capital,
Paid-Up |
|
|
3 |
3 |
3 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.14 |
2.94 |
4.62 |
-0.76 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
4.00 |
3.57 |
3.68 |
2.31 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.62 |
|
UK Pound |
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.96 |
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 |
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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 |
|
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.