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Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
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Name : |
NIHON CORNET TECHNOLOGY KK |
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Registered Office : |
Higashi-Ueno Kanto Bldg 6F, 1-12-2 Higashi-Ueno Taitoku Tokyo 110-0015 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
June, 1998 |
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Com. Reg. No.: |
0105-01-018708 (Tokyo-Taitoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of information communication equipment, networking
system |
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No. of Employees |
8 |
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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Maximum Credit Limit: |
Yen 16.5 million |
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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 – March 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Japan |
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 |
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 |
NIHON CORNET
TECHNOLOGY KK
REGD NAME: Nihon Cornet Technology KK
MAIN OFFICE: Higashi-Ueno Kanto Bldg 6F, 1-12-2
Higashi-Ueno Taitoku Tokyo 110-0015 JAPAN
Tel:
03-5817-3655 Fax: 03-5817-3677
URL: http://www.nihon-cornet.co.jp
E-Mail address: (thru the URL)
Import, wholesale of information communication equipment, networking
system
Nil
USA (parent)
HIDEO MATSUMOTO, PRES
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 550 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 25 M
TREND SLOW WORTH Yen 325 M
STARTED 1998 EMPLOYES 8
TRADING FIRM SPECIALIZING IN COMMUNICATION SYSTEMS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 16.5 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Cornet Technology Inc (USA) as
its marketing arm in Japan. The firm
imports and wholesales information communication equipment & devices (See OPERATION). Clients include communication firms,
telecommunications, other
Financials are only partially disclosed.
Profits are not precisely disclosed and only estimated.
The sales volume for Mar/2013 fiscal term amounted to Yen 550 million, a
similar amount in the previous term. The
net profit is estimated posted at Yen 50 million, similarly in the previous
term.
For the term that ended Mar 2014 the net profit was projected at Yen 50
million, on a 3% rise in turnover, to Yen 565 million. Final results are not yet released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 16.5 million, on 30 days normal terms.
Date
Registered: Jun 1998
Regd
No.: 0105-01-018708
(Tokyo-Taitoku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 500 shares
Issued:
500 shares
Sum:
Yen
25 million
Major
shareholders (%): Cornet Technology Inc
(USA) (100)
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports and
wholesales information communication systems/devices/parts, other (100%)
(Items imported
and handled): MTX, TVCS, IP Gate, clearwave platform, electronics matrix switches,
AB switches, legacy interface (of Cornet Technology make), next pose scanner,
meta sploit express, shunra software, network simulator, network software,
other.
Clients: [Mfrs,
wholesalers] SoftBank Telecom, KVH, Internet Initiative, NTT PC Communications
Inc, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] MRV, BreakingPoint Systems, Cornet Technology, Shunra Software,
Web Performance, Rapid, Garett Com, Net Optics, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (Ueno)
MUFG (Ueno)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual Sales |
|
565 |
550 |
550 |
550 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
50 |
50 |
50 |
50 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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325 |
275 |
225 |
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Capital, Paid-Up |
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25 |
25 |
25 |
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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 |
2.73 |
0.00 |
0.00 |
-8.33 |
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Current Ratio |
.. |
.. |
.. |
||
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N.Worth Ratio |
.. |
.. |
.. |
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N.Profit/Sales |
8.85 |
9.09 |
9.09 |
9.09 |
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Notes: Financials are only partially disclosed. Profits are not precisely disclosed and only
estimated.
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
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UK Pound |
1 |
Rs.101.10 |
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Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
SDA |
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 |
-- |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.