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Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
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Name : |
ITC CO LTD |
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Registered Office : |
Fifth Bldg 4F, 5-5 Nibancho Chiyodaku Tokyo 102-0084 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2013 |
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Date of Incorporation : |
July 1998 |
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Com. Reg. No.: |
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Legal Form : |
Limited Company
(Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of PC motherboards, DRAM module, chips, switching power |
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No. of Employees |
16 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2013 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 is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy
|
Source
: CIA |
ITC CO LTD
REGD NAME: KK
ITC
MAIN OFFICE: Fifth
Bldg 4F, 5-5 Nibancho Chiyodaku
Tokyo 102-0084 JAPAN
Tel:
03-6272-6262 Fax: 03-5226-3455
*.. Moved to the caption
address in Aug 2009 from the former as given
URL: http://www.itc-web.jp/
E-mail: (thru the URL)
Mfg of PC
motherboards, DRAM module, chips, switching power, other
Nil
Saitama
TADASHI IKEDA,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,722 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
80 M
TREND SLOW WORTH Yen
145 M
STARTED 1998 EMPLOYES 16
MFR OF PC
MOTHERBOARDS, PERIPHERALS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Tadashi Ikeda in order to make
most of his experience in the subject line of business. This is a trading firm for import, export and
wholesale of PCs, PC motherboards, DRAM module, chips, switching power, digital
power, and peripherals. Goods are both
imported mainly from Taiwan from contracted suppliers. Has recently closed import agency agreement
with Hi Tech Information System Ltd (Taiwan).
Imports from Taiwan, Singapore, USA, Korea, other. Domestic clients include electronic firms,
chain stores, other
The sales volume for Aug/2013 fiscal term amounted to Yen 1,722 million,
a 17% down from Yen 2,085 million in the previous term. PC market was sluggish and demand
declined. Exports were hurt by the high
Yen, reducing earnings & profits in Yen terms. The net profit was posted at Yen 20 million,
compared with Yen 8 million a year ago.
Profits improved.
For the current term ending Aug 2014 the net profit is projected at Yen
25 million, on a 5% rise in turnover, to Yen 1,800 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Jul
1998
Regd No.: 0100-01-009476 (Tokyo-Chiyodaku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 6,400 shares
Issued: 1,600 shares
Sum: Yen 80 million
Major shareholders (%): Tadashi Ikeda
(100)
Nothing
detrimental is known as to his commercial morality.
Activities: Manufactures PC
motherboards, DRAM module, DRAM chips, switching power, digital power, other
peripherals (--100%).
Import agent for: Hi Tech Information System
Ltd, Inno Vision Multimedia Ltd, Philips & Lite-On Digital Solutions Corp (--Taiwan)
Clients: [Electronics
mfrs, wholesalers] Sofmap Co, Unit Com, Sophia
Research Institute, NEC Purchasing Service, Yamada Denki Co, other
Exports to Taiwan, USA, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers [Mfrs, wholesalers] Pandam
International, Legacy Electronics, other.
Imports from Taiwan, USA, Korea, Singapore,
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
(Kanda)
SMBC (Kanda)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/08/2014 |
31/08/2013 |
31/08/2012 |
31/08/2011 |
|
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Annual
Sales |
|
1,800 |
1,722 |
2,085 |
2,443 |
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Recur.
Profit |
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|
17 |
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Net
Profit |
|
25 |
20 |
8 |
2 |
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Total
Assets |
|
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N/A |
662 |
540 |
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Current
Assets |
|
|
|
438 |
492 |
|
Current
Liabs |
|
|
|
144 |
188 |
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Net Worth |
|
|
145 |
131 |
142 |
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Capital,
Paid-Up |
|
|
80 |
80 |
80 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.53 |
-17.41 |
-14.65 |
69.65 |
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Current Ratio |
|
.. |
.. |
304.17 |
261.70 |
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N.Worth Ratio |
.. |
.. |
19.79 |
26.30 |
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R.Profit/Sales |
|
.. |
.. |
0.82 |
.. |
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N.Profit/Sales |
1.39 |
1.16 |
0.38 |
0.08 |
|
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Return On Equity |
.. |
13.79 |
6.11 |
1.41 |
|
Notes: Financials
are only partially disclosed for the 31/08/2013 fiscal term.
Forecast (or
estimated) figures for the 31/08/2014 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.21 |
|
|
1 |
Rs.101.05 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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 |
|
|
-- |
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.