|
Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
KYOCERA OPTEC KK |
|
|
|
|
Registered Office : |
3-1778 Osogi Ome City Tokyo-Metrop
198-0003 |
|
|
|
|
Country : |
Japan |
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|
|
|
Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May 1949 |
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|
|
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Com. Reg. No.: |
0131-01-003563 (Tokyo-Ome) |
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|
|
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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|
|
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Line of Business : |
Manufacturing of optical lenses. |
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|
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No. of Employees : |
228 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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
KYOCERA OPTEC CO LTD
REGD NAME: Kyocera
Optec KK
MAIN OFFICE: 3-1778
Osogi Ome City Tokyo-Metrop 198-0003 JAPAN
Tel: 042-874-5111
Fax: 042-874-4692
URL: http://www.kop.co.jp
E-Mail
address: (thru the URL)
Mfg of
optical lenses
Tokyo
(Shinjukuku), Osaka
USA,
China
At the
caption address, Chigase (Ome City)
FUMINORI
YAMAGIWA, PRES Tetsuo Kuba, ch
Akiyoshi Takagi, dir Katsushi
Kobayashi, dir
Toshihiro
Oshigamo, dir Koichi Kano, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 5,225 M
PAYMENTSSLOW
BUT CORRECT CAPITAL Yen 240 M
TREND SLOW WORTH Yen 1,699 M
STARTED 1949 EMPLOYES 228
MFR OF OPTICAL LENSES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 184.1 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally as Tomioka
Optical Co Ltd, and in 1960 commenced production of SLR camera lenses &
copier lenses. In 1968, the firm became
the member of Yashica Co, camera maker.
In 1983, Yashica was acquired by Kyocera Corp and the firm became its
wholly owned subsidiary, and renamed as captioned. This is a specialized mfr of optical lenses
for optical instruments & machines.
Products are exported. Clients
include major electronics makers nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen
5,225 million, an 11% down from Yen 3,869 million in the previous term. Demand decreased particularly from OA/FA
machinery makers. The recurring profit
was posted at Yen 141 million and the net profit at Yen 127 million,
respectively, compared with Yen 246 million recurring profit and Yen 242
million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is
projected at Yen 150 million and the net profit at Yen 135 million,
respectively, on a 5% rise in turnover, to Yen 5,500 million. .
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 184.1 million, on 30 days normal terms.
Date Registered: May 1949
Regd No.: 0131-01-003563
(Tokyo-Ome)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.9 million shares
Issued:
480,000 shares
Sum: Yen
240 million
Major shareholders (%):
Kyocera Corp* (100)
*.. Major comprehensive ceramics mfr, Kyoto, founded 1959,
listed Tokyo S/E, capital Yen 115,703 million, sales Yen 1,280,054 million,
operating profit Yen 76,926 million, recurring profit Yen 101,363 million, net
profit Yen 66,473 million, total assets Yen 2,282,853 million, net worth Yen
1,646,157 million, employees 71,645, pres Goro Yamagishi
Nothing
detrimental is known as to the commercial morality of executives.
Activities:
Manufactures optical lenses: for OA/FA machinery & equipment (50%), for
medical instruments, projectors (40%), for cameras, other (10%).
(Mfg
Items): Optical components (aspherical lenses, spherical lenses,
asymmetrical/cylindrical lenses, mirrors, plastic lenses); Optical units
(machine—vision lenses, line-sensor lenses, custom optical units, scanner lenses,
custom CCD/CMOS lenses – for visible light & near-IR); structural
components (mechanical & precision parts), other.
Clients:
[Mfrs, wholesalers] Kyocera Corp, Seiko Epson, Shinkawa Ltd, Dainippon Screen
Mfg, Tokyo Seimitsu Co, Toshiba Tec Corp, Hitachi Hi-Technologies, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Ohara Inc, Tokiwa Optical Corp, San-Ei Optical Co, Kyowa,
Marushin Communications, other
Payment record: Slow
but correct
Location: Business
area in Ome City, Tokyo-Metrop. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References: Mizuho Bank (Higashi-Ome)
MUFG (Fussa)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
5,500 |
5,225 |
5,869 |
5,779 |
|
Recur.
Profit |
|
150 |
141 |
246 |
|
|
Net
Profit |
|
135 |
127 |
242 |
271 |
|
Total
Assets |
|
|
3,770 |
3,653 |
3,461 |
|
Current
Assets |
|
|
2,854 |
3,082 |
|
|
Current
Liabs |
|
|
1,496 |
1,192 |
|
|
Net
Worth |
|
|
1,699 |
1,667 |
1,511 |
|
Capital,
Paid-Up |
|
|
240 |
240 |
240 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.26 |
-10.97 |
1.56 |
57.25 |
|
|
Current Ratio |
|
.. |
190.78 |
258.56 |
.. |
|
N.Worth Ratio |
.. |
45.07 |
45.63 |
43.66 |
|
|
R.Profit/Sales |
|
2.73 |
2.70 |
4.19 |
.. |
|
N.Profit/Sales |
2.45 |
2.43 |
4.12 |
4.69 |
|
|
Return On Equity |
.. |
7.47 |
14.52 |
17.94 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
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.