MIRA INFORM REPORT

 

 

Report Date :

21.08.2014              

 

IDENTIFICATION DETAILS

 

Name :

HYTEC INTER CO LTD

 

 

Registered Office :

Ichigo Nishisando Bldg, 3-28-6 Yoyogi Shibuyaku Tokyo 151-0053

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

November, 1998

 

 

Com. Reg. No.:

0110-01-075763 (Tokyo-Shibuyaku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import and Wholesale of Telecommunication & Computer Products.

 

 

No. of Employees :

21

 

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

 

 

 

 

 

 

Company Name and Address

 

HYTEC INTER CO LTD

 

REGD NAME:    Hytec Inter KK

MAIN OFFICE:  Ichigo Nishisando Bldg, 3-28-6 Yoyogi Shibuyaku Tokyo 151-0053 JAPAN

Tel: 03-5334-5260          Fax: 03-5334-3688  

 

URL:                 http://www.hytec.co.jp

E-Mail address:            info@hytec.co.jp

 

 

ACTIVITIES

 

Import, wholesale of telecommunication & computer products

 

 

BRANCHES

 

Nil

 

 

OVERSEAS

 

Korea, Taiwan

 

 

OFFICERS

 

NORIHITO ASAO, PRES                        Masahiro Takaishi, dir

Naohiko Nomura, dir                   Takeshi Tomoda, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 778 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 50 M

TREND UP                                WORTH            Yen 153 M       

STARTED         1998                             EMPLOYES      21

 

COMMENT

 

TRADING FIRM SPECIALIZING IN TELECOMMUNICATION PRODUCTS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARYBUSINESS ENGAGEMENTS.

                       

           

HIGHLIGHTS

           

The subject company was established originally as Hytec Inter YK (Yugen Kaisha) and in 2001 upgraded to KK (Kabushiki Kaisha), or Hytec Inter Co Ltd.  This is a trading firm for import and wholesale of telecommunication & computer products: business modems, industrial xDSL modems/switches, LAN extenders, analog modems, media converters, other. Goods are imported from Taiwan and Korea, where the firm operates branch offices.  Clients include information systems Co, electronic firms, other.

 

 

FINANCIAL INFORMATION

           

The sales volume for Sept/2013 fiscal term amounted to Yen 778 million, a 71% up from Yen 454 million in the previous term.  Imports of modems increased.  Client networks expanded.  The recurring profit was posted at Yen 107 million and the net profit at Yen 74 million, respectively, compared with Yen 36 million recurring profit and Yen 36 million net profit, respectively, a year ago.

 

For the current term ending Sept 2014 the recurring profit is projected at Yen 110 million and the net profit at Yen 80 million, respectively, on a 3% rise in turnover, to Yen 800 million.  Business is seen expanded steadily.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:                      Nov 1998

Regd No.:                                 0110-01-075763 (Tokyo-Shibuyaku)

Legal Status:                Limited Company (Kabushiki Kaisha)

Authorized:                   4,000 shares

Issued:                         1,000 shares

Sum:                            Yen 50 million

Major shareholders (%): Norihito Asao (55), Company’s Treasury Stock (16), Masahiro Takaishi (15)

      No. of shareholders:          7

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Imports and wholesales telecommunication & computer products: business modems, media converters, industrial xDSL modems/switches, WAN load balancers, LAN extenders, remote power supply extenders, analog modems, accessories, other (--100%)

 

Clients: [Mfrs, wholesalers] Toyo Denso Co (18.6%), Daiwabo Information Systems (18%), NEC Corp (9.3%), Oki Electric Ind (8.6%), other 

No. of accounts: 300

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] ITAS Technology Corporation (13.3%), ZHONE Corp (12.8%), other

 

Payment record: No Complaints

 

Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactory.

 

Bank References:

                        SMBC (Ueno)

                        Shoko Chukin Bank (Omori)

                        Relations: Satisfactory

 

 

FINANCES (In Million Yen)

 

       Terms Ending:

30/09/2014

30/09/2013

30/09/2012

30/09/2011

Annual Sales

　

800

778

454

360

Recur. Profit

　

110

107

36

　

Net Profit

　

80

74

36

-72

Total Assets

　

　

488

357

309

Current Assets

　

　

432

310

　

Current Liabs

　

　

177

101

　

Net Worth

　

　

153

87

50

Capital, Paid-Up

　

　

50

50

50

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

　

(%)

(%)

(%)

(%)

    S.Growth Rate

　

2.83

71.37

26.11

-51.15

    Current Ratio

　

..

244.07

306.93

..

    N.Worth Ratio

　

..

31.35

24.37

16.18

    R.Profit/Sales

　

13.75

13.75

7.93

..

    N.Profit/Sales

　

10.00

9.51

7.93

-20.00

    Return On Equity

　

..

48.37

41.38

..

 

Notes: Forecast (or estimated) figures for the 30/09/2014 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.67

UK Pound

1

Rs.100.81

Euro

1

Rs.80.73

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.