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Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HOTRON CO LTD |
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Registered Office : |
Hotron Bldg, 1-11-26 Hyakunincho Shinjukuku Tokyo 169-0073 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
June 1975 |
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Com. Reg. No.: |
0110-01-019766 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of automatic door sensors |
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No. of Employees |
22 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit limits : |
Yen 25.2 Million |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
HOTRON CO LTD
REGD NAME: KK
Hotron
MAIN OFFICE: Hotron
Bldg, 1-11-26 Hyakunincho Shinjukuku Tokyo 169-0073 JAPAN
Tel:
03-5330-9221 Fax: 03-5330-9222
E-Mail address: (thru the URL)
Import, wholesale
of automatic door sensors
Machida
(Tokyo-Metrop)
Taiwan, Ireland
(subcontracted)
TADAMORI HONDA,
PRES Masanao Sakamoto, dir
Ichiro Honda, dir Masanori Takizawa, dir
Toshio Hori, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,987 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 224 M
STARTED 1975 EMPLOYES 22
TRADING FIRM SPECIALIZING IN AUTOMATIC DOOR SENSORS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 25.2 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Tadamori Honda in order to make
most of his experience in the subject line of business. This is a trading firm, with mfg division,
specializing in import and wholesale of automatic door sensors. Has mfg factory in Taiwan. Clients include house builders, other
The sales volume for May/2013 fiscal term amounted to Yen 1,987 million,
a 0.6% up from Yen 1,976 million in the previous term. The operations plunged into the red to
register Yen 18 million net losses for the term, compared with Yen 34 million
net profit a year ago.
For the current term ending May 2014 the operations are expected to come
back to profitability to post Yen 35 million net profit, on a 3% rise in
turnover, to Yen 2,050 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 25.2 million, on 30 days normal terms.
Date Registered: Jun
1975
Regd No.:
0110-01-019766 (Tokyo-Shinjukuku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Hotron Holdings Inc* (100)
*.. Holding company of Hotron group firms
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales automatic door sensors, sliding door sensors swing door sensors
other (--100%)
Clients: [Mfrs,
wholesalers] Nabtesco Corp, Nabco Door, Hotron Ireland, Nabco System, CARCOM
Co, Mitsubishi Precision, other
No. of accounts:
200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Honda Denshi Giken (95%), Hotron Holdings, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Toranomon)
Mizuho Bank
(Shinjuku-Nishiguchi)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/05/2014 |
31/05/2013 |
31/05/2012 |
31/05/2011 |
|
|
Annual
Sales |
|
2,050 |
1,987 |
1,976 |
1,766 |
|
Recur.
Profit |
|
|
|
|
|
|
Net Profit |
|
35 |
-18 |
34 |
-80 |
|
Total
Assets |
|
|
1,065 |
1,157 |
1,105 |
|
Current
Assets |
|
|
850 |
815 |
750 |
|
Current
Liabs |
|
|
529 |
676 |
607 |
|
Net
Worth |
|
|
224 |
242 |
208 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.17 |
0.56 |
11.89 |
-2.43 |
|
|
Current Ratio |
.. |
160.68 |
120.56 |
123.56 |
|
|
N.Worth Ratio |
.. |
21.03 |
20.92 |
18.82 |
|
|
R.Profit/Sales |
.. |
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.71 |
-0.91 |
1.72 |
-4.53 |
|
|
Return On Equity |
.. |
-8.04 |
14.05 |
-38.46 |
|
Notes: Forecast
(or estimated) figures for the 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
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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 |
|
|
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.