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Report Date : |
23.11.2013 |
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|
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Tel. No.: |
0081 3 37323591 |
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Fax No.: |
0081 3 37397249 |
IDENTIFICATION DETAILS
|
Name : |
HINO SYSTECH CORPORATION |
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|
|
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Registered Office : |
1-20-2 Minami-Rokugo Otaku Tokyo 144-0045 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
October 1957 |
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Com. Reg. No.: |
0108-01-010052 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of electric equipment, control console, switch board |
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|
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No. of Employees : |
80 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but correct |
|
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
HINO SYSTECH
CORPORATION
REGD NAME: Hino Systech KK
MAIN OFFICE: 1-20-2 Minami-Rokugo Otaku Tokyo 144-0045 JAPAN
Tel: 03-3732-3591 Fax: 03-3739-7249
URL: http://www.hino-systech.co.jp
E-Mail address: n-ueno@hino-systech.co.jp (products); s-muramatsu@hino-systech.co.jp
(technical)
Mfg of electric equipment, control console, switch board, other
Nil
(subcontracted)
AKIRA KUMAZAWA, PRES
Masanori Hino, ch
Michihiro Takahashi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,649 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 45 M
TREND UP WORTH Yen 2311 M
STARTED 1957 EMPLOYES 80
MFR OF ELECTRIC EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 26.4 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Eiji Hino originally in 1950 for starting electric work business. Incorporated in 1957 the firm has been succeeded by his descendants. This is a specialized mfr of electric equipment, control console, switch board, monitor control systems, process instrument system, offering electric instrumentation work, other. Clients include major heavy machinery makers, construction companies, Tokyo-Metrop Office, other.
The sales volume for Sept/2012 fiscal term amounted to Yen 11,469 million, a 39% up from Yen 1,184 million in the previous term. The recurring profit was posted at Yen 70 million and the net profit at Yen 23 million, respectively, compared with Yen 1 million recurring profit and Yen 21 million net losses, respectively, a year ago.
For the term that ended Sept 2013 the recurring profit was projected at Yen 75 million and the net profit at Yen 25 million, respectively, on a 3% rise in turnover, to Yen 1,700 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 26.4 million, on 30 days normal terms.
Date Registered: Oct 1957
Regd No.: 0108-01-010052 (Tokyo-Otaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 360,000 shares
Issued: 90,000 shares
Sum: Yen 45 million
Major shareholders (%): Masayasu Hino (20), Akira Kumazawa (13), Masanori Hino (12), Employees’ S/Holding Assn (10), Hatsue Hino (7)
No. of shareholders: 28
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures electric equipment: control console, switch board, instrument board, monitor controlling system, anti-disaster equipment, process instrumentation system, others, offering electric instrumentation work (--100%)
Clients: [Mfrs, wholesalers] NGC Corp, Chiyoda Corp, Mitsubishi Heavy Ind, IHI Corp, Tokyo-Metrop Office, Kawasaki Heavy Ind, JFE Engineering, Ebara Corp, Mitsui Engineering & Shipbuilding Ind, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kanaden Corp, Teruya Electric Co, Aitech Engineering, HIMA, Midoriya Techno Co, Takagi Shokai, other
Payment record: Slow but correct
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References: MUFG (Kamata)
Mizuho Bank (Kamata)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
Annual
Sales |
|
1,700 |
1,649 |
1,184 |
1,225 |
|
Recur.
Profit |
|
75 |
70 |
1 |
27 |
|
Net
Profit |
|
25 |
23 |
-21 |
1 |
|
Total
Assets |
|
|
1,042 |
963 |
798 |
|
Current
Assets |
|
|
806 |
661 |
501 |
|
Current
Liabs |
|
|
560 |
449 |
459 |
|
Net
Worth |
|
|
231 |
207 |
229 |
|
Capital,
Paid-Up |
|
|
45 |
45 |
45 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.09 |
39.27 |
-3.35 |
-19.62 |
|
|
Current Ratio |
|
.. |
143.93 |
147.22 |
109.15 |
|
N.Worth Ratio |
.. |
22.17 |
21.50 |
28.70 |
|
|
R.Profit/Sales |
|
4.41 |
4.24 |
0.08 |
2.20 |
|
N.Profit/Sales |
1.47 |
1.39 |
-1.77 |
0.08 |
|
|
Return On Equity |
.. |
9.96 |
-10.14 |
0.44 |
|
Notes: Forecast (or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.02 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.