MIRA INFORM REPORT

 

 

Report Date :

26.10.2013

 

IDENTIFICATION DETAILS

 

Name :

SUMCO CORPORATION

 

 

Registered Office :

Seavance N Bldg, 1-2-1 Shibaura Minatoku Tokyo 105-8634

 

 

Country :

Japan

 

 

Financials (as on) :

31.01.2013

 

 

Date of Incorporation :

July, 1999

 

 

Com. Reg. No.:

0104-01-046159 (Tokyo-Minatoku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Manufacturer of Silicon Wafers for Semiconductor Industry

 

 

No. of Employees :

7,879

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

Company Name

 

SUMCO CORPORATION

 

 

REGD NAME

 

KK Sumco

 

 

MAIN OFFICE

 

Seavance N Bldg, 1-2-1 Shibaura Minatoku Tokyo 105-8634 JAPAN

Tel: 03-5444-0808   

      -

URL:                 http://www.sumcosi.com

E-Mail address: (thru the URL)

 

 

ACTIVITIES

 

Mfg of silicon wafers for semiconductor industry

 

 

BRANCHES

 

Osaka, Fukuoka

 

 

OVERSEAS

 

USA (2), UK, Taiwan (3), Indonesia, Singapore, China (3), Korea

 

 

FACTORIES

 

Saga (2), Hyogo, Yamagata, Chitose (Hokkaido)

 

 

CHIEF EXEC

 

MAYUKI HASHIMOTO, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 206,691 M

PAYMENTSNO COMPLAINTS    CAPITAL           Yen 136,607 M

TREND SLOW                           WORTH            Yen 180,325 M

STARTED         1999                             EMPLOYES      7,879

 

 

COMMENT

 

MFR OF SILICON WATERS 

 

FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

Unit: In Million Yen

Forecast figures for the 31/01/2014 fiscal term.

 

 

HIGHLIGHTS

 

This is the leading mfr of silicon wafers, born out of consolidation between semiconductor base-use silicon wafer business of Sumitomo Metal Ind and Mitsubishi Materials.  Ranks 2nd in world market share next to Shin-Etsu Handotai Co.  Expanding operations globally, and world’s top-class mfr of silicon wafers for semiconductors.  The company will complete a rehabilitation plan started in spring 2012 focusing on an optimized production structure, which enhances the ability to withstand demand fluctuations.  It will maintain a sales strategy placing greater priority on improved profit margin than on market share expansion, and has no plans for large-scale capital spending.

 

 

FINANCIAL INFORMATION

 

The sales volume for Jan/2013 fiscal term amounted to Yen 206,691 million, a 16.4% down from Yen 247,177 million in the previous term.  The semiconductor silicon wafer market has rallied in the first half of 2012 fiscal year due to strong demand for devices such as smartphones and tablet computers.  However, the market got into an adjustment phase from the second half due to weak demand for leading-edge devices.  The Sumco Group proceeded to reduce additional indirect costs and other business expenses to improve its break-even sales point for its profitability.  The operations returned to profitability to post Yen 9,464 million recurring profit and Yen 3,426 million net profit, respectively, compared with Yen 5,695 million recurring loss and Yen 84,369 million net losses, respectively, a year ago.

 

(Feb/July/2013 results): Sales Yen 100,635 million (down 7.4%), operating profit Yen 11,853 million (up 71.8%), recurring profit Yen 3,740 million (down 29.4%), net profit Yen 123 million (down 97.5%).  (% compared with the corresponding period a year ago).. 

           

For the current term ending Dec 2014 the recurring profit is projected at Yen 5,000 million and the net profit at Yen 500 million, respectively, on a 13% fall in turnover, to Yen 180,000 million.  There will be an 11-month irregular account settlement due to change in accounting term to Jan/Dec from Feb/Jan.  Rising sales of semiconductor wafers for mobile phones and services is not offsetting softening sales for PCs.  Operating profit will increase slightly due to cost cuts, including on depreciation and payroll.  Production increases by semiconductor makers will be probable to contribute.  Depreciation costs will ease. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

           

     Date Registered:　              Jul 1999

     Regd No.:                            0104-01-046159 (Tokyo-Minatoku)

Legal Status:                Limited Company (Kabushiki Kaisha

Authorized:                              803,999,100 shares

Issued:                         257,752,189 shares

Sum:                            Yen 136,607 million

 

Major shareholders (%): Nippon Steel & Sumitomo Metal (27.8), Mitsubishi Materials (27.8), Japan Trustee Services T (2.6), Mellon Bank Treaty CI Omnibus (1.6), Komatsu Ltd (1.5), Nomura Trust Inv T (1.0), State Street Bank & Trust 505225 (0.8); foreign owners (19.2)

          

No. of shareholders:     51,795

 

Listed on the S/Exchange (s) of: Tokyo

 

Managements: Mayuki Hashimoto, pres; Michiharu Takii, v pres, Yoichi Tsuchiya, s/mgn dir; Harumitsu Endo, s/mgn dir; Hisashi Furuya, mgn dir; Kazuo Hiramoto, mgn dir; Hosaku Shibuya, mgn dir; Takeo Sasaki, mgn dir

 

Nothing detrimental is known as to the commercial morality of executives.

 

Related companies: Sumco TECHXIV, other.

 

 

OPERATION

           

Activities: Manufactures silicon wafers for semiconductors/LEDs, other (--100%).

Overseas Sales Ratio (67%)

           

Clients: [Mfrs, wholesalers] Sumitomo Corp, Samsung Electronics Co Ltd, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Hemlock Semiconductor Corp, Mitsubishi Materials,   Osaka Titanium Technologies, other

 

Payment record: No Complaints

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

                        MUFG (H/O)

                        SMBC (H/O)

                        Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/01/2013

31/01/2012

INCOME STATEMENT

 

 

 

  Annual Sales

　

206,691

247,177

 

  Cost of Sales

169,895

218,097

 

      GROSS PROFIT

36,795

29,079

 

  Selling & Adm Costs

23,579

28,112

 

      OPERATING PROFIT

13,215

967

 

  Non-Operating P/L

-3,751

-6,662

 

      RECURRING PROFIT

9,464

-5,695

　

      NET PROFIT

3,426

-84,369

BALANCE SHEET

 

 

 

 

  Cash

　

35,103

25,464

 

  Receivables

 

32,457

36,181

 

  Inventory

 

113,057

77,152

 

  Securities, Marketable

37,000

　

 

  Other Current Assets

9,124

12,109

 

      TOTAL CURRENT ASSETS

226,741

150,906

 

  Property & Equipment

179,360

192,104

 

  Intangibles

 

17,844

20,348

 

  Investments, Other Fixed Assets

69,389

73,062

 

      TOTAL ASSETS

493,334

436,420

 

  Payables

 

28,658

26,661

 

  Short-Term Bank Loans

125,308

95,693

 

　

 

　

　

 

  Other Current Liabs

31,321

32,167

 

      TOTAL CURRENT LIABS

185,287

154,521

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

103,150

118,298

 

  Reserve for Retirement Allw

17,544

18,844

 

  Other Debts

　

7,027

17,984

 

      TOTAL LIABILITIES

313,008

309,647

 

      MINORITY INTERESTS

 

 

 

Common stock

136,607

114,107

 

Additional paid-in capital

15,676

89,291

 

Retained earnings

16,849

(82,692)

 

Evaluation p/l on investments/securities

0

149

 

Others

 

11,201

5,926

 

Treasury stock, at cost

(8)

(8)

 

      TOTAL S/HOLDERS` EQUITY

180,325

126,773

　

      TOTAL EQUITIES

493,334

436,420

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/01/2013

31/01/2012

 

Cash Flows from Operating Activities

　

16,308

18,916

 

Cash Flows from Investment Activities

-15,228

-17,472

 

Cash Flows from Financing Activities

47,502

-29,583

　

Cash, Bank Deposits at the Term End

　

72,103

25,464

ANALYTICAL RATIOS            Terms ending:

31/01/2013

31/01/2012

 

 

Net Worth (S/Holders' Equity)

180,325

126,773

 

 

Current Ratio (%)

122.37

97.66

 

 

Net Worth Ratio (%)

36.55

29.05

 

 

Recurring Profit Ratio (%)

4.58

-2.30

 

 

Net Profit Ratio (%)

1.66

-34.13

 

 

Return On Equity (%)

1.90

-66.55

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.63

UK Pound

1

Rs.99.94

Euro

1

Rs.84.14

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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%)

MIRA INFORM REPORT

 

 

Report Date :

26.10.2013

 

IDENTIFICATION DETAILS

 

Name :

SUMCO CORPORATION

 

 

Registered Office :

Seavance N Bldg, 1-2-1 Shibaura Minatoku Tokyo 105-8634

 

 

Country :

Japan

 

 

Financials (as on) :

31.01.2013

 

 

Date of Incorporation :

July, 1999

 

 

Com. Reg. No.:

0104-01-046159 (Tokyo-Minatoku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Manufacturer of Silicon Wafers for Semiconductor Industry

 

 

No. of Employees :

7,879

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

Company Name

 

SUMCO CORPORATION

 

 

REGD NAME

 

KK Sumco

 

 

MAIN OFFICE

 

Seavance N Bldg, 1-2-1 Shibaura Minatoku Tokyo 105-8634 JAPAN

Tel: 03-5444-0808   

      -

URL:                 http://www.sumcosi.com

E-Mail address: (thru the URL)

 

 

ACTIVITIES

 

Mfg of silicon wafers for semiconductor industry

 

 

BRANCHES

 

Osaka, Fukuoka

 

 

OVERSEAS

 

USA (2), UK, Taiwan (3), Indonesia, Singapore, China (3), Korea

 

 

FACTORIES

 

Saga (2), Hyogo, Yamagata, Chitose (Hokkaido)

 

 

CHIEF EXEC

 

MAYUKI HASHIMOTO, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 206,691 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 136,607 M

TREND             SLOW                           WORTH            Yen 180,325 M

STARTED         1999                             EMPLOYES      7,879

 

 

COMMENT

 

MFR OF SILICON WATERS 

 

FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

Unit: In Million Yen

Forecast figures for the 31/01/2014 fiscal term.

 

 

HIGHLIGHTS

 

This is the leading mfr of silicon wafers, born out of consolidation between semiconductor base-use silicon wafer business of Sumitomo Metal Ind and Mitsubishi Materials.  Ranks 2nd in world market share next to Shin-Etsu Handotai Co.  Expanding operations globally, and world’s top-class mfr of silicon wafers for semiconductors.  The company will complete a rehabilitation plan started in spring 2012 focusing on an optimized production structure, which enhances the ability to withstand demand fluctuations.  It will maintain a sales strategy placing greater priority on improved profit margin than on market share expansion, and has no plans for large-scale capital spending.

 

 

FINANCIAL INFORMATION

 

The sales volume for Jan/2013 fiscal term amounted to Yen 206,691 million, a 16.4% down from Yen 247,177 million in the previous term.  The semiconductor silicon wafer market has rallied in the first half of 2012 fiscal year due to strong demand for devices such as smartphones and tablet computers.  However, the market got into an adjustment phase from the second half due to weak demand for leading-edge devices.  The Sumco Group proceeded to reduce additional indirect costs and other business expenses to improve its break-even sales point for its profitability.  The operations returned to profitability to post Yen 9,464 million recurring profit and Yen 3,426 million net profit, respectively, compared with Yen 5,695 million recurring loss and Yen 84,369 million net losses, respectively, a year ago.

 

(Feb/July/2013 results): Sales Yen 100,635 million (down 7.4%), operating profit Yen 11,853 million (up 71.8%), recurring profit Yen 3,740 million (down 29.4%), net profit Yen 123 million (down 97.5%).  (% compared with the corresponding period a year ago).. 

           

For the current term ending Dec 2014 the recurring profit is projected at Yen 5,000 million and the net profit at Yen 500 million, respectively, on a 13% fall in turnover, to Yen 180,000 million.  There will be an 11-month irregular account settlement due to change in accounting term to Jan/Dec from Feb/Jan.  Rising sales of semiconductor wafers for mobile phones and services is not offsetting softening sales for PCs.  Operating profit will increase slightly due to cost cuts, including on depreciation and payroll.  Production increases by semiconductor makers will be probable to contribute.  Depreciation costs will ease. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

           

Date Registered:　       Jul 1999

Regd No.:                                 0104-01-046159 (Tokyo-Minatoku)

Legal Status:                Limited Company (Kabushiki Kaisha

Authorized:                  803,999,100 shares

Issued:                         257,752,189 shares

Sum:                            Yen 136,607 million

 

Major shareholders (%): Nippon Steel & Sumitomo Metal (27.8), Mitsubishi Materials (27.8), Japan Trustee Services T (2.6), Mellon Bank Treaty CI Omnibus (1.6), Komatsu Ltd (1.5), Nomura Trust Inv T (1.0), State Street Bank & Trust 505225 (0.8); foreign owners (19.2)

          

No. of shareholders:     51,795

 

Listed on the S/Exchange (s) of: Tokyo

 

Managements: Mayuki Hashimoto, pres; Michiharu Takii, v pres, Yoichi Tsuchiya, s/mgn dir; Harumitsu Endo, s/mgn dir; Hisashi Furuya, mgn dir; Kazuo Hiramoto, mgn dir; Hosaku Shibuya, mgn dir; Takeo Sasaki, mgn dir

 

Nothing detrimental is known as to the commercial morality of executives.

 

Related companies: Sumco TECHXIV, other.

 

 

OPERATION

           

Activities: Manufactures silicon wafers for semiconductors/LEDs, other (--100%).

Overseas Sales Ratio (67%)

           

Clients: [Mfrs, wholesalers] Sumitomo Corp, Samsung Electronics Co Ltd, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Hemlock Semiconductor Corp, Mitsubishi Materials,   Osaka Titanium Technologies, other

 

Payment record: No Complaints

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

                        MUFG (H/O)

                        SMBC (H/O)

                        Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/01/2013

31/01/2012

INCOME STATEMENT

 

 

 

  Annual Sales

　

206,691

247,177

 

  Cost of Sales

169,895

218,097

 

      GROSS PROFIT

36,795

29,079

 

  Selling & Adm Costs

23,579

28,112

 

      OPERATING PROFIT

13,215

967

 

  Non-Operating P/L

-3,751

-6,662

 

      RECURRING PROFIT

9,464

-5,695

　

      NET PROFIT

3,426

-84,369

BALANCE SHEET

 

 

 

 

  Cash

　

35,103

25,464

 

  Receivables

 

32,457

36,181

 

  Inventory

 

113,057

77,152

 

  Securities, Marketable

37,000

　

 

  Other Current Assets

9,124

12,109

 

      TOTAL CURRENT ASSETS

226,741

150,906

 

  Property & Equipment

179,360

192,104

 

  Intangibles

 

17,844

20,348

 

  Investments, Other Fixed Assets

69,389

73,062

 

      TOTAL ASSETS

493,334

436,420

 

  Payables

 

28,658

26,661

 

  Short-Term Bank Loans

125,308

95,693

 

　

 

　

　

 

  Other Current Liabs

31,321

32,167

 

      TOTAL CURRENT LIABS

185,287

154,521

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

103,150

118,298

 

  Reserve for Retirement Allw

17,544

18,844

 

  Other Debts

　

7,027

17,984

 

      TOTAL LIABILITIES

313,008

309,647

 

      MINORITY INTERESTS

 

 

 

Common stock

136,607

114,107

 

Additional paid-in capital

15,676

89,291

 

Retained earnings

16,849

(82,692)

 

Evaluation p/l on investments/securities

0

149

 

Others

 

11,201

5,926

 

Treasury stock, at cost

(8)

(8)

 

      TOTAL S/HOLDERS` EQUITY

180,325

126,773

　

      TOTAL EQUITIES

493,334

436,420

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/01/2013

31/01/2012

 

Cash Flows from Operating Activities

　

16,308

18,916

 

Cash Flows from Investment Activities

-15,228

-17,472

 

Cash Flows from Financing Activities

47,502

-29,583

　

Cash, Bank Deposits at the Term End

　

72,103

25,464

ANALYTICAL RATIOS            Terms ending:

31/01/2013

31/01/2012

 

 

Net Worth (S/Holders' Equity)

180,325

126,773

 

 

Current Ratio (%)

122.37

97.66

 

 

Net Worth Ratio (%)

36.55

29.05

 

 

Recurring Profit Ratio (%)

4.58

-2.30

 

 

Net Profit Ratio (%)

1.66

-34.13

 

 

Return On Equity (%)

1.90

-66.55

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.63

UK Pound

1

Rs.99.94

Euro

1

Rs.84.14

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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

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NB

New Business

 

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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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.