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Report Date : |
26.08.2014 |
IDENTIFICATION DETAILS
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Name : |
J- DEVICES CORPORATION |
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Registered Office : |
2820-2 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
November 1970 |
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Com. Reg. No.: |
3202-01-000126 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of semiconductors |
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No. of Employees |
3,083 |
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 |
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Status : |
Satisfactory |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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. 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 |
J- DEVICES CORPORATION
REGD NAME: KK
J-Devices
MAIN OFFICE: 2820-2
Minami-Kitsuki Kitsuki City Oita-Pref 873-0002
Tel: 0978-63-5676 Fax:
0978-63-2388
URL: http://www.j-devices.co.jp
E-Mail address: info@j-devices.co.jp
Mfg of
semiconductors
Tokyo, Kawasaki
At the caption
address, Fukura, Fukuoka
YOSHIFUMI NAKAYA,
PRES Naohiko Urasaki, v pres
Koji Ino, s/mgn
dir J
Kim, dir
Masaaki Kinukawa,
dir Shigetoshi Goto, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 559,295 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 5,117 M
TREND STEADY WORTH Yen 35,917 M
STARTED 1970 EMPLOYES 3,083
MFR OF SEMICONDUCTORS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by S Nakaya in order to make most of
his experience in the subject line of business.
This is a specialized maker of semiconductors. In 2010, received capital investment from
Amkor Technologies Inc, USA and Toshiba Corp, and sales rose. Clients are Toshiba Crop and semiconductor
mfrs, nationwide.
Financials are only partially disclosed.
The sales volume for Mar/2014 fiscal term amounted to Yen 59,295
million, a 22% up from Yen 48,548 million in the previous term. The net profit was posted at Yen 1,260
million, compared with Yen 1,061 million a year ago.
For the current term ending Mar 2015 the net profit is projected at Yen
1,300 on a 4% rise in turnover to Yen 61,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered:
Nov 1970
Regd No.: 3202-01-000126 (Oita-Kitsuki)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 40 million shares
Issued: 10 million shares
Sum: Yen 5,117 million
Major shareholders (%): Amkor Technologies,
USA (38), Toshiba Corp (10)
No. of shareholders: 8
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
semiconductors (100%)
Clients: [Mfrs] Toshiba Corp,
Murata Mfg, Alps Electric, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Advantest Corp, Yokogawa Electric Corp, Tokyo Electron Co, SKT
Technologies, Kyocera Chemical, Tanaka Kikinzoku International, other
Payment record: No complaints
Location: Business area in
Oita. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Oita Bank (H/O)
SMBC (Oita)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
Annual
Sales |
|
61,500 |
59,295 |
48,548 |
44,728 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
1,300 |
1,260 |
1,061 |
1,598 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
35,917 |
34,657 |
33,596 |
|
Capital,
Paid-Up |
|
|
5,117 |
5,117 |
5,117 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.72 |
22.14 |
8.54 |
-13.25 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
2.11 |
2.12 |
2.19 |
3.57 |
Notes: Financials
are only partially disclosed.
Forecast (or estimated)
figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.42 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.79.74 |
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 |
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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 |
|
|
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.