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Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
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Name : |
FUJIFILM ELECTRONIC MATERIALS CO LTD |
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Registered Office : |
No.5 Arai Bldg 9F, 6-19-20 Jingumae Shibuyaku Tokyo150-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
July 1983 |
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Com. Reg. No.: |
0110-01-020641
(Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of semiconductor devices, photo-sensitizer, photo-resist, color-resist products |
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No. of Employees : |
240 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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 |
FUJIFILM ELECTRONIC MATERIALS CO LTD
Fujifilm Electronic
Materials KK
No.5 Arai Bldg 9F, 6-19-20
Jingumae Shibuyaku Tokyo150-0001 JAPAN
Tel: 03-406-5911 Fax: 03-3498-0567
URL: http://www.fujifilm.co.jp
E-Mail address: (thru
the URL)
Mfg of semiconductor devices (photo-resist), photo-sensitizer, other
Shizuoka
Taiwan, Korea
(2), Singapore, Hong Kong, China (2)
Shizuoka, Korea
KEIJI
MIHAYASHI, PRES
Masashi
Enokido, dir
Yukishi
Akutagawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 13,000 M
PAYMENTS REGULAR CAPITAL Yen 490 M
TREND UP WORTH Yen 9,268 M
STARTED 1983 EMPLOYES 240
MFR OF SEMICONDUCTOR DEVICES, OWNED BY FUJIFILM HOLDINGS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally as a joint venture between Fujifilm Corp and Philip A Hunt Chemical Corp of US (now Arch Chemicals Inc), and in 2004 Fujifilm acquired business operations (partly) of Arch Chemical and bought their shares in this JV company, and became a wholly owned subsidiary of Fujifilm Holdings Corp. This is a specialized mfr of semiconductor devices, photo-sensitizers, photo-resist, color-resist products, other. Operates factories in Korea. Goods are exported.
The sales volume for Mar/2013 fiscal term amounted to Yen 13,000 million, a 4% up from Yen 12,550 million in the previous term. Exports were brisk. The net profit was posted at Yen 1,229 million, compared with Yen 1,177 million a year ago.
For the current term ending Mar 2014 the net profit is projected at Yen 1,300 million, on a 4% rise in turnover, to Yen 13,500 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered:
Jul 1983
Regd No.: 0110-01-020641 (Tokyo-Shibuyaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3.9 million shares
Issued: 980,000 shares
Sum: Yen 490 million
Major
shareholders (%): Fujifilm Holdings Corp* (100)
*.. Top-ranked photo film & third-ranked business machines mfr, Tokyo, founded 1934, listed Tokyo S/E, capital Yen 40,363 million, sales Yen 2,214,696 million, operating profit Yen 114,116 million, recurring profit Yen 119,186 million, net profit Yen 54,266 million, total assets Yen 3,059,596 million, net worth Yen 1,868,870 million, employees 80,322, pres Shigehiro Nakajima
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures semiconductor devices, photo-sensitizer, photo-resist, color-resist products, other (--100%)
Goods are exported
Clients: [Mfrs, wholesalers] Fujifilm Holdings, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Domestic and overseas, other
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (Tokyo)
MUFG (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual
Sales |
|
13,500 |
13,000 |
12,550 |
11,200 |
|
Recur.
Profit |
|
|
|
1,900 |
|
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Net
Profit |
|
1,300 |
1,229 |
1,177 |
21 |
|
Total
Assets |
|
|
17,867 |
18,650 |
14,432 |
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Current
Assets |
|
|
10,478 |
9,279 |
7,941 |
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Current
Liabs |
|
|
8,511 |
8,175 |
6,967 |
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Net
Worth |
|
|
9,268 |
8,419 |
7,461 |
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Capital,
Paid-Up |
|
|
490 |
490 |
490 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
3.85 |
3.59 |
12.05 |
12.00 |
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Current Ratio |
|
.. |
123.11 |
113.50 |
113.98 |
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N.Worth Ratio |
.. |
51.87 |
45.14 |
51.70 |
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R.Profit/Sales |
|
.. |
.. |
15.14 |
.. |
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N.Profit/Sales |
9.63 |
9.45 |
9.38 |
0.19 |
|
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Return On Equity |
.. |
13.26 |
13.98 |
0.28 |
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Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
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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 |
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-- |
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.