|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
HONDA ELECTRON CO., LTD. |
|
|
|
|
Registered Office : |
1-23-19, Asahi-cho, Machida-shi, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.05.2012 |
|
|
|
|
Date of Incorporation : |
19.12.1968 |
|
|
|
|
Com. Reg. No.: |
0123-01-002339 ( |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in
development and manufacturing sensors to the pedestrian and industrial
automatic door industry worldwide. |
|
|
|
|
No of Employees : |
60 |
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 Limit : |
US$ 400,000 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
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 |
|
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 |
HONDA ELECTRON
CO., LTD.
Company name: HONDA ELECTRON CO., LTD.
Name in local language: HONDA
DENSHI GIKEN, K.K.
Office address: 1-23-19, Asahi-cho, Machida-shi, Tokyo
194-0023
Country:
Office tel: 042-725-1911
Office fax: 042-729-1424
Website: www.hotron.co.jp (for group)
Business type: Manufacturer
Industry: Sensor
Established: December 19, 1968
Capital: Jp.
55,000,000 yen
Employees: 60
Corporate formation: Private
Corporation No.: 0123-01-002339
(Tokyo Legal Affairs Bureau)
Paid in capital : Jp.
55,000,000 yen
Number of authorized shares : 500,000
shares
Shares issued : 110,000
shares
Number of shareholder : 1
Hotron Holdings Inc. holds 100 percent.
Activity Product/Service
Description
-------------------------------------------------------------------------------
Manufacturing Sensor
President Mr. Tadamori Honda (President of the
parent company)
Nationality: Japan
Director Mr.
Kanenao Sakamoto
Nationality: Japan
Director Mr. Takahiro Imai
Nationality: Japan
Nationality: Japan
Auditor Mr. Ryoichi Okitsu
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Tadamori Honda
President and representative director
Other responsibilities:
President of:
-
Hotron Holdings
Inc.
-
Hotron Co., Ltd.
-
Taiwan Hotron
Co., Ltd.
-
Hotron Ireland
Ltd.
-
Heast Co., Ltd.
Home address: 6-32-8, Seijo, Setagaya-ku, Tokyo
Currency: (local currency - Jp. yen)
-------------------------------------------------------------------------------------
Year | Sales | Net Income
-------------------------------------------------------------------------------------
|
2009 |
1,795,000,000 |
n. a. |
|
2010 |
1,560,000,000 |
n. a. |
|
2011 |
1,561,000,000 |
n. a. |
|
2012 |
1,658,000,000 |
82,559,000 |
|
2013 |
1,679,000,000 |
n. a. |
|
2014 |
1,780,000,000 |
n. a. |
*Book Closing*
============
May 31st
*Financials*
==========
As a private limited company, no official financial statement is required
to be disclosed publicly.
Available financial statement (Balance sheet) is only for May 2012 term.
|
Balance Sheet |
|
|
Unit: millions of JP yen |
|
|
|
5/31/2012 |
|
Current assets |
899 |
|
Fixed assets |
1,385 |
|
Total Assets |
2,285 |
|
|
|
|
Current liabilities |
540 |
|
Fixed liabilities |
925 |
|
Shareholders' equity |
819 |
|
Paid up capital |
45 |
|
Capital reserves |
15 |
|
Retained earnings |
759 |
|
Total Liabilities & Net
Assets |
2,285 |
Bank Name : Bank of
Tokyo-Mitsubishi UFJ, Ltd.
Branch : Toranomon
Bank Name : Sumitomo Mitsui
Banking Corp.
Branch : Jiyugaoka
Bank Name : Tokyo Tomin Bank,
Ltd.
Branch : Head office
business banking department
The subject is the founding firm of Hotron group companies, owned and
headed by Mr. Tadamori Honda, a sensor specialist in the nation.
Sales has been picking up since it hit a bottom in 2010.
As a whole group the business has been steady with a certain level of
net income maintained.
A weaker currency would be favorable.
Negative factors are not observed in particular at this moment.
Our standard suggestion would be up to US$ 400,000 on terms of 90 days.
*Main Products & Services*
Engaged in
development and manufacturing sensors to the pedestrian and industrial
automatic door industry worldwide.
At the location of the head office
*Address*
=========
Registered address is the same as the operational address.
Date Development
-----------------------------------------------------------------------------------------------
August 1967 Started business in Yokohama City.
December 19, 1968 Incorporated under the current company name in
Machida City, Tokyo.
June 1975 Founded “Hotron Co., Ltd.”
September 1977 Founded “Heast Co., Ltd.”
April 1983 Relocated the subject to the current
address within Machida City.
March 1996 Founded “Taiwan Hotron Co., Ltd.”
April 1996 Founded “Hotron (Ireland) Ltd.”
June 1998 ISO9001 certified.
March 2004 ISO14001 certified.
April 1, 2013 Founded
“Hotron Holdings Inc.” as the holding company of the whole
group by splitting the subject.
*Suppliers*
==========
Renesas Easton Co., Ltd.
Suiko Resins Co., Ltd.
Masuda Kogyo Co., Ltd.
Taiwan Hotron Co., Ltd.
TKR Corp.
Claire Corp.
Arc Inc.
*Customers*
==========
Hotron Co., Ltd.
Miyamarin Corp.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
UK Pound |
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.