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Report Date : |
03.10.2013 |
IDENTIFICATION DETAILS
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Name : |
DENSAN CORPORATION |
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Registered Office : |
Bunseido Bldg 4F, 2-50 Aioicho Nakaku
Yokohama 231-0012 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2013 |
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Date of Incorporation : |
May 1976 |
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Com. Reg. No.: |
0200-01-027718
(Yokohama-Nakaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and wholesaler of power supply, batteries, solar
energy-related materials |
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No. of Employees : |
05 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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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 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 |
DENSAN CORPORATION
Densan Shoji KK
Bunseido Bldg 4F,
2-50 Aioicho Nakaku Yokohama 231-0012 JAPAN
Tel:
045-662-8189 Fax: 045-662-8188
E-Mail address: Densan@densan.co.jp
Import,
wholesale of electric components & parts
Osaka
Taiwan, China (5) (--mfg partners)
TOSHIO
MAKINO, PRES
Takayuki
Higuchi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen420 M
PAYMENTSREGULAR CAPITAL Yen
10 M
TREND UP WORTH Yen 223 M
STARTED 1976 EMPLOYES 5
TRADING FIRM SPECIALIZING IN ELECTRIC PARTS &
COMPONENTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by father of Nobiru Yoshimizu in
order to make most of his experience in the subject line of business. This is a trading firm for import of electric
parts & components, solar energy-related materials, other (See OPERATION). Goods are imported from partnership makers in
China and Taiwan. Clients include major
electronic makers, wholesalers, other.
Panasonic Group became one of the clients in 2012.
Financials are only partially disclosed.
The sales volume for Apr/2013 fiscal term amounted to Yen 420 million, a
27% up from Yen 330 million in the previous term. This is attributed to the new clients
Panasonic Group became a new clients and sales increased. Imports increased. The net profit was posted at Yen 16 million,
compared with a minimum amount post-taxes in the previous term.
For the current term ending Apr 2014 the net profit is projected at Yen
20 million, on a 5% rise in turnover, to Yen 440 million. Business is seen expanding steadily. Sales of solar energy-related materials will
increase.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: May
1976
Regd No.: 0200-01-027718 (Yokohama-Nakaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders
(%): Toshio Makino (80)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales power supply, batteries, solar energy-related materials, others (--100%).
(Handling Items):
Power Supplies: AC/DC adapters,
DC/DC connecters, battery chargers, power supply for LED;
Batteries: nickel
metal-hydride batteries, lithium-ion batteries, other;
Solar
Energy-related materials: silicon, ingot (P&N types), solar grade ingot,
silicon wafers, other.
Clients: [Mfrs,
wholesalers] Panasonic Corp, Panasonic Mobile Communications, Kaga Electronics
Co, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Sarom Electronics, Hon Kwang Electronics, other.
Imports from Taiwan, China, other
Payment record: Regular
Location: Business area in
Yokohama. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
MUFG (Yokohama-Chuo)
Resona Bank (Yokohama)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/04/2014 |
30/04/2013 |
30/04/2012 |
30/04/2011 |
|
Annual
Sales |
|
440 |
420 |
330 |
285 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
20 |
16 |
0 |
-50 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
223 |
212 |
212 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.76 |
27.27 |
15.79 |
1.79 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
4.55 |
3.81 |
0.00 |
-17.54 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/04/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
UK Pound |
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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 |
|
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.