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Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
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Name : |
NIPPON CONTROL SYSTEM CORPORATION |
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Registered Office : |
Unisawa Tokyo Bldg 7F, 1-19-1 Ebisu Shibuyaku Tokyo 150-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
January, 1981 |
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Com. Reg. No.: |
0110-01-017610 (Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Development of computer systems, control systems, software |
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No. of Employees : |
160 |
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 |
|
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 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 |
NIPPON CONTROL
SYSTEM CORPORATION
Nippon Control System KK
Unisawa Tokyo Bldg 7F, 1-19-1 Ebisu Shibuyaku Tokyo 150-0013 JAPAN
Tel: 03-3443-5081 Fax:
03-3443-5189
URL: http://www.nippon-control-system.co.jp
E-Mail address: (thru the URL)
Development of computer systems, control systems, software
Yokohama, Osaka
USA
NOBUYASU HORIUCHI, PRES
Seiichiro Takeuchi, v pres
Katsuhisa Kobayashi, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,481 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
59 M
TREND UP WORTH Yen 1,088 M
STARTED 1981 EMPLOYES 160
DEVELOPER OF COMPUTE SYSTEMS, SOFTWARE, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company specializes in development of computer systems, control
systems, and software (Image Data Processing, Communication Control, etc),
others. Goods are exported to USA,
Germany, Korea, Taiwan, other. Clients
include major electronics makers, wholesalers, other, nationwide.
The sales volume for Dec/2012 fiscal term amounted to Yen 1,481 million,
a 7% up from Yen 1383 million in the previous term. As business was increasing, the firm employed
consultants, and increased bonus payment to employees due to the increased
business, which resulted in cost-ups.
The operations plunged into the red to post Yen 29 million recurring
loss and Yen 12 million net losses, respectively, compared with Yen 6 million
recurring profit and Yen 4 million net profit, respectively, a year ago.
For the current term ending Dec 2013 the operations are projected to
come back to profitability to post Yen 35 million recurring profit and Yen 30
million net profit, respectively, on a
5% rise in turnover, to Yen 1,550 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Jan 1981
Regd
No.: 0110-01-017610
(Tokyo-Shibuyaku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 474,800 shares
Issued:
118,700 shares
Sum:
Yen
59,350,000.00
Major shareholders
(%): Tokyo Small & Medium
Business investment & Promotion Assn (32), Employees S/Holding Assn (29),
Intec (10), Seiichiro Takeuchi (6), Nobuyasu Horiuchi (4)
No.
of shareholders: 28
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Development of
computer systems, control systems, and software (Image Data Processing,
Communication Control, other), others (--100%)
Clients: [Mfrs,
wholesalers] NEC Corp, Itochu Techno Solutions, Asahi Glass, Dai Nippon
Printing, Fujitsu Ltd, Samsung Electronics (Korea), Hynix Semiconductors
(Korea), Advanced Mask Technology Center (Germany), Toppan Chunghwa Electronics
(Taiwan), Toppan Photomasks (USA), other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] NGT, Dell, Internet Initiative, Toppan NEC Circuits, Daiwabo
Information System, KDD, other
Payment
record: Slow but Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Mizuho Bank (Ebisu)
SMBC (Shibuya-Ekimae)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual Sales |
|
1,550 |
1,481 |
1,383 |
1,467 |
|
Recur. Profit |
|
35 |
-29 |
6 |
|
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Net Profit |
|
30 |
-12 |
4 |
31 |
|
Total Assets |
|
|
1,667 |
1,671 |
1,640 |
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Current Assets |
|
|
1,030 |
1,022 |
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Current Liabs |
|
|
327 |
309 |
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Net Worth |
|
|
1,088 |
1,103 |
1,107 |
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Capital, Paid-Up |
|
|
59 |
59 |
59 |
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Div.Ttl in Million (¥) |
|
|
2.8 |
8.6 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.66 |
7.09 |
-5.73 |
-1.54 |
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Current Ratio |
|
.. |
314.98 |
330.74 |
.. |
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N.Worth Ratio |
.. |
65.27 |
66.01 |
67.50 |
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R.Profit/Sales |
|
2.26 |
-1.96 |
0.43 |
.. |
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N.Profit/Sales |
1.94 |
-0.81 |
0.29 |
2.11 |
|
|
Return On Equity |
.. |
-1.10 |
0.36 |
2.80 |
|
Notes: Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
|
|
1 |
Rs.99.06 |
|
Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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.