|
Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHINDEN HIGHTEX CORPORATION |
|
|
|
|
Registered Office : |
Sankyo Bldg 6F, 3-7-2 Irifune Chuoku Tokyo 104-0042 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
June 1995 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesaler of LCDs, semiconductors, peripherals. |
|
|
|
|
No. of Employees : |
101 |
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
SHINDEN HIGHTEX CORPORATION
REGD NAME: Shinden Hightex KK
MAIN OFFICE: Sankyo Bldg 6F, 3-7-2 Irifune Chuoku Tokyo 104-0042 JAPAN
Tel: 03-3537-0101
Fax: 03-3537-0202
URL: http://www.shinden.co.jp/
E-Mail address: info@shinden.co.jp
Import, wholesaler of LCDs, semiconductors, peripherals
Osaka, Nagoya, Sendai, Kumagaya, Shizuoka, Nagano, Fukuoka, Kyoto,
Fukuyama
Shinden Hong Kong Ltd, Shinden-Hightex Korea Corp, Shinden Korea Techno Co, Shinden Singapore Pte Ltd, Shinden Trading (Shanghai) Co Ltd, Shinden (Thailand) Co Ltd (--subsidiaries)
(subcontracted)
TAMOTSU SHIROSHITA, PRES Atsushi Suzuki, mgn dir
Toshikazu Saito, dir Akira Tomizawa, dir
Jun’ichi Nishimoto, dir Koji Akazawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 29,987 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 841 M
TREND UP WORTH Yen 2,408 M
STARTED 1995 EMPLOYES 101
IMPORTER AND WHOLESALER SPECIALIZING IN SEMICONDUCTORS AND PERIPHERALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Susumu Kaizuka, major shareholder, in order to make most of his experience in the subject line of business. This is a trading firm specializing in import and wholesale of semiconductors, LCD’s and peripherals. Goods are imported from USA, China, Korea, other and shipped to major electronics mfrs nationwide. Operates 6 overseas offices in China and other Asian countries, engaged in mfg of these products. Domestic clients include major electronics makers, nationwide
The sales volume for Mar/2013 fiscal term amounted to Yen 29,987 million, a 7% up from Yen 28,046 million in the previous term. Exports and sales of liquid crystals were robust and sales grew. The recurring profit was posted at Yen 336 million and the net profit at Yen 202 million, respectively, compared with Yen 184 million recurring profit and Yen 107 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 350 million and the net profit at Yen 220 million, respectively, on a 5% rise in turnover, to Yen 31,500 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jun 1995
Regd No.: (Tokyo-Chuoku) 094897
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 27,200 shares
Issued: 8,010 shares
Sum: Yen 841 million
Major shareholders (%): Susumu Kaizuka (15.1), Employees’ S/Holding Assn (9.3), Tamotsu Shiroshita (8.8), Masaru Kawai (5.3), Jafco V2 Joint Investment (4.9), SDS Investment (3.4)
No. of shareholders: 132
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales LCDs (19%), semiconductors (65%), electronics equipment (8%), others (8%).
Import/Export (26%)
Clients: [Electronics mfrs] Alps, Alpine, Brother, Canon, Citizen, Fanuc, Fuji Film, Fujitsu, Fuji Xerox, Ishida, JVC, Konica Minolta, Kyocera Mita, Nagano JRC, NEC, NJRC, Oki Data, Panasonic, Panasonic Communications, Renesas, Ricoh, Sanyo Electric, Seiko Epson, Sharp, Sony, TDK, Toshiba, Toshiba Tec, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] LG Display Japan, IBM Japan, SK Hynix Japan, other.
Payment record: No complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References: Mizuho Bank (Shinagawa)
SMBC (Shibuya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
31,500 |
29,987 |
28,046 |
33,075 |
|
Recur.
Profit |
|
350 |
336 |
184 |
351 |
|
Net
Profit |
|
220 |
202 |
107 |
130 |
|
Total
Assets |
|
|
11,596 |
12,469 |
11,526 |
|
Current
Assets |
|
|
11,285 |
12,105 |
10,349 |
|
Current
Liabs |
|
|
7,034 |
7,238 |
7,511 |
|
Net
Worth |
|
|
2,408 |
2,238 |
2,154 |
|
Capital,
Paid-Up |
|
|
841 |
841 |
841 |
|
Div.Ttl
in Million (¥) |
|
|
32 |
31.9 |
19.9 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.05 |
6.92 |
-15.20 |
38.35 |
|
|
Current Ratio |
|
.. |
160.44 |
167.24 |
137.78 |
|
N.Worth Ratio |
.. |
20.77 |
17.95 |
18.69 |
|
|
R.Profit/Sales |
|
1.11 |
1.12 |
0.66 |
1.06 |
|
N.Profit/Sales |
0.70 |
0.67 |
0.38 |
0.39 |
|
|
Return On Equity |
.. |
8.39 |
4.78 |
6.04 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.60 |
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.