|
Report Date : |
09.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOKUDO CO LTD |
|
|
|
|
Registered Office : |
1-1 Tenjinkitamachi Teranouchi-Agaru Horikawa-Dori Kamigyoku Kyoto 602-8413 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
July 2006 |
|
|
|
|
Com. Reg. No.: |
1300-01-027236 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer of coat/develop
track equipment for semiconductor production |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Poor |
|
Payment Behaviour : |
Slow |
|
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
SOKUDO CO LTD
REGD NAME: KK Sokudo
MAIN OFFICE: 1-1 Tenjinkitamachi Teranouchi-Agaru Horikawa-Dori Kamigyoku Kyoto 602-8413 JAPAN
Tel: 075-417-2670
Fax: 075-417-2672
E-Mail address: (thru the U\rill)
Mfg of coat/develop track
equipment for semiconductor production
Nil
At the caption address
TADAHIRO SUHARA, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 9,500 M
PAYMENTS SLOW CAPITAL Yen 90 M
TREND SLOW WORTH Yen (-) 2,389 M
STARTED 2006 EMPLOYES 15
MFR SPECIALIZING IN SEMICONDUCTOR
COAT/DEVELOP TRACK
EQUIPMENT, OWNED BY DAINIPPON
SCREEN MFG CO LTD.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MOERATE BUSINESS ENGAGEMENTS.
The subject company was
established on the basis of a division separated from Dainippon Screen Mfg Co
Ltd, mfr of semiconductor and LCD-making equipment, at the caption
address. This is a specialized mfr of
coat/develop track equipment for semiconductor production. Clients include major electronics mfrs,
other.
Financials are consolidated by the
parent, Dainippon Screen Mfg Co Ltd and only partially disclosed.
The sales volume for Mar/2013
fiscal term amounted to Yen 9,500 million, a 44% down from Yen 17,000 million
in the previous term. Sales of
PC-related semiconductor equipment stagnated.
Some operations were transferred to a group firm. The net profit was posted at Yen 90 million,
compared with Yen 150 million net losses a year ago. Profits are not precisely disclosed and
estimated only.
For the current term ending Mar
2014 the net profit is projected t Yen 95 million, on a 3\5 rise in turnover,
to Yen 9,800 million.
The financial situation is
considered RATHER WEAK but should e good for MODERATE business
engagements.
Date Registered: Jul 2006
Regd No.: 1300-01-027236
(KYoto-Kamigyoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7,200 shares
Issued:
1,800 shares
Sum: Yen
90 million
Major shareholders (%):
Dainippon Screen Mfg Co Ltd* (100)
*.. Mfr of semiconductor &
LCD-making equipment, at the caption address, founded 1941, listed Tokyo S/E,
capital 54,044 million, sales Yen 289,923 million, operating loss Yen 6,986
million, recurring loss Yen 7,205
million, net losses Yen 13,486 million, total assets Yen 235,022 million, net
worth Yen 80,610 million, employees 4,954, pres Masahiro Hashimoto
Nothing detrimental is known as to
the commercial morality of executives.
Activities:
Manufactures coat/develop track equipment for semiconductor production, others
(--100%)
Clients: [Mfrs,
wholesalers] Toshiba Corp, SK Hynix Japan, Sony Corp, Dainippon Screen Mf,
Semiconductor Mfg Co, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Dainippon Screen Mfg, Allied Materials, Sebacs Inc, Techin Tech
Co, other
Payment record: Slow
Location: Business
area in Kyoto. Office premises at the
caption address are owned by the parent, Dainippon Screen Mfg Co, and
maintained satisfactorily.
Bank References: MUFG (Kyoto)
Relations:
Satisfactory
(In Million Yen)
|
Terms
Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual
Sales |
|
9,800 |
9,500 |
17,000 |
20,000 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
95 |
90 |
-150 |
-200 |
|
Total
Assets |
|
|
N/A |
9,817 |
N/A |
|
Net
Worth |
|
|
-2,389 |
-2,479 |
-2,329 |
|
Capital,
Paid-Up |
|
|
90 |
90 |
90 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.16 |
-44.12 |
-15.00 |
233.33 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
-25.25 |
.. |
|
|
N.Profit/Sales |
0.97 |
0.95 |
-0.88 |
-1.00 |
|
Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.83.69 |
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.