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Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
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Name : |
HOYA CANDEO OPTRONICS CORPORATION |
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Registered Office : |
3-5-24 Hikawacho Toda Saitama-Pref 335-0027 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
October 1988 |
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Com. Reg. No.: |
0300-01-021636 (Saitama-Toda) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of optical laser, UV & electro-optical (EO) glass equipment, other |
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No. of Employees : |
102 |
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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Maximum Credit Limit: |
Yen 266.8 Million |
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Status : |
Good |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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
HOYA CANDEO OPTRONICS CORPORATION
REGD NAME: Hoya
Candeo Optronics KK
MAIN OFFICE: 3-5-24
Hikawacho Toda Saitama-Pref 335-0027 JAPAN
Tel:
048-447-6052 Fax: 048-447-6053
URL: http://www.hoyacandeo.co.jp
E-Mail address: (thru the URL)
Mfr of optical
laser, UV & electro-optical (EO) glass equipment, other
Nil
Taiwan, China
At the caption
address
TAKASHI SUEMATSU,
PRES
Ken Takahata, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,027 M
PAYMENTSREGULAR CAPITAL Yen
490 M
TREND UP WORTH Yen 3,690 M
STARTED 1988 EMPLOYES 102
MFR OF OPTICAL FIBERS, OTHERS, OWNED BY HOYA CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 266.8 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established on the basis of a division separated from Hoya Corp, mfr of optical
glasses & eyeglasses (See REGISTRATION). This is a specialized mfr of optical
system/equipment, other (See OPERATION). Materials are wholly supplied from the
parent. Clients include camera makers,
elect5ronic equipment makers, other, nationwide.
The sales volume for
Mar/2012 fiscal term amounted to Yen 6,027 million, an 18% up from Yen 5,112
million in the previous term. Exports
were robust into China, Taiwan, other S/E Asian emerging nations. The recurring profit was posted at Yen 539
million and the net profit at Yen 299 million, respectively, compared with Yen
783 million recurring profit and Yen 413 million net profit, respectively, a
year ago.
For the term that ended
Mar 2013 the recurring profit was projected at Yen 570 million and the net
profit at Yen 310 million, respectively, on a 3% rise in turnover, to Yen 6,200
million. Final results are yet to be
released.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 266.8
million, on 30 days normal terms.
Date Registered: Oct 1988
Regd No.:
0300-01-021636 (Saitama-Toda)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 108,000 shares
Issued: 27,114 shares
Sum: Yen 490 million
Major shareholders (%): Hoya Corp* (100)
*.. Major mfr of optical lenses and
eyeglasses, Tokyo, founded 1944, listed Tokyo S/E, capital Yen 6,264 million,
sales Yen 372,484 million, recurring profits Yen 89,368 million, net profit Yen
71,242 million, total assets Yen 618,074 million, net worth Yen 470,685
million, employees 36,411, pres Hiroshi Suzuki
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
light sources: optical system/equipment (UV light sources, laser oscillators),
EO glass (color glass filters, opto-electronics glass), other (--100%)
Clients: [Mfrs,
wholesalers] Nikon Corp, Cannon Inc, Tokyo Electron, Hitachi Ltd, Tokyo
Electron Kyushu, Olympus Corp, Panasonic Corp, Fujitsu Ltd, Sony Corp, other
No. of accounts:
800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hoya Corp
Payment record: Regular
Location: Business area in
Toda City, Saitama-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Tokyo)
Resona Bank
(Shintoshin)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
6,200 |
6,027 |
5,112 |
3,654 |
|
Recur.
Profit |
|
570 |
559 |
783 |
|
|
Net
Profit |
|
310 |
299 |
413 |
190 |
|
Total
Assets |
|
|
5,002 |
5,241 |
5,576 |
|
Current
Assets |
|
|
4,039 |
4,108 |
|
|
Current
Liabs |
|
|
1,221 |
1,410 |
|
|
Net
Worth |
|
|
3,690 |
3,741 |
4,495 |
|
Capital,
Paid-Up |
|
|
490 |
490 |
490 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.87 |
17.90 |
39.90 |
-19.00 |
|
|
Current Ratio |
|
.. |
330.79 |
291.35 |
.. |
|
N.Worth Ratio |
.. |
73.77 |
71.38 |
80.61 |
|
|
R.Profit/Sales |
|
9.19 |
9.27 |
15.32 |
.. |
|
N.Profit/Sales |
5.00 |
4.96 |
8.08 |
5.20 |
|
|
Return On Equity |
.. |
8.10 |
11.04 |
4.23 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.62 |
|
|
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.96 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
<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.