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Report Date : |
26.10.2013 |
IDENTIFICATION DETAILS
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Name : |
NIPPON MICROMETAL CORPORATION |
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Registered Office : |
158-1 |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
Feb., 1987 |
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Com. Reg. No.: |
0300-01-027197 (Saitama-Iruma) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Cu Bending Wire, Au Bending Wire, Micro Solder Ball, Other |
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No. of Employees : |
100 |
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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 |
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 MICROMETAL CORPORATION
Nittetsu Sumikin
Micrometal KK
158-1 Sayamagahara
Iruma City Saitama-Pref 358-0032 JAPAN
Tel:
04-2934-6101 Fax: 04-2934-5454
URL: http://www.nmc--net.co.jp
E-Mail
address: (thru the URL)
Mfg of
Cu bending wire, Au bending wire, micro solder ball, other
Nil
Philippines,
China, Malaysia
At the
caption address, China, Philippines, Malaysia
TOSHIO
INOUE, PRES Hirokazu
Kakizaki, dir
Yoji
Kawakami, dir Kenji
Shimokawa, dir
Takuo
Kaneko, dir Takashi
Yamada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 42,000 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 250 M
TREND UP WORTH Yen 3,027 M
STARTED 1987 EMPLOYES 100
MFR OF MICRO SOLDER BALL, WIRES, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established originally on the basis of a division separated
from Nippon Mining and in Oct 2012 when the parent merged with Nippon Steel
Corp, the corporate name is changed to Nittesu Sumikin Micrometal KK. This is a specialized mfr of Cu bending
wire, Au bending wire, micro solder ball, other. Owns factories in China, Malaysia,
Philippines, Taiwan. Goods are both
imported and exported.
The
sales volume for Mar/2013 fiscal term amounted to Yen 42,000 million, a 5% up
from Yen 40,000 million in the previous term.
Production at overseas factories increased and exports rose. The net profit was posted at Yen 1,322
million, compared with Yen 1306 million a year ago.
For the current term ending Mar 2014 the net profit is
projected at Yen 1,400 million, on a 5% rise in turnover, to Yen 44,000
million. Business is seen expanding
steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Feb 1987
Regd no.: 0300-01-027197
(Saitama-Iruma)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 20,000 shares
Issued:
5,000 shares
Sum: Yen
250 million
Major shareholders (%): Nippon Steel Sumikin Materials Co*
(70),Matsuda Sangyo (30))
No. of shareholders: 2
*.. Owned by Nippon Steel & Sumitomo Metal Corp, largest
crude steel mfr, Tokyo, founded 1950, listed Tokyo, Nagoya, Fukuoka, Sapporo S/Es,
capital Yen 419,524 million, sales Yen 4,389,922 million, operating profit Yen
20,110 million, recurring profit Yen 76,931 million, net loss Yen 124,567
million, total assets Yen 7,010,099 million, net worth Yen 2,454,906 million,
employees 83,187, pres Hiroshi Tomono
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures Cu bending wire, Au
bending wire, micro solder ball, other (--100%)
Clients: [Mfrs, wholesalers] Nittetsu
Micrometal Philippines, Matsuda Sangyo, Texas Instruments, Renesas Electronics,
Toshiba Corp, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Matsuda Sangyo,
Nittetsu Mining, other
Payment record: No
Complaints
Location:
Business area in Iruma City, Saitama-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Mizuho Corporate Bank
(H/O)
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 |
|
44,000 |
42,000 |
40,000 |
40,000 |
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Recur.
Profit |
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Net
Profit |
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1,400 |
1,322 |
306 |
168 |
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Total
Assets |
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9,527 |
7,899 |
10,737 |
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Current
Assets |
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7,348 |
8,180 |
9,029 |
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Current
Liabs |
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6,287 |
5,224 |
8,384 |
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Net
Worth |
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|
3,027 |
2,405 |
2,098 |
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Capital,
Paid-Up |
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|
250 |
250 |
250 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.76 |
5.00 |
0.00 |
-11.11 |
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Current Ratio |
|
.. |
116.88 |
156.58 |
107.69 |
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N.Worth Ratio |
.. |
31.77 |
30.45 |
19.54 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
3.18 |
3.15 |
0.77 |
0.42 |
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Return On Equity |
.. |
43.67 |
12.72 |
8.01 |
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Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
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|
1 |
Rs.99.94 |
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Euro |
1 |
Rs.84.14 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
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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.