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Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
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Name : |
HOTRON CO., LTD. |
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Registered Office : |
1-11-26, Hyakunin-cho, Shinjuku-ku, |
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Country : |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
10.06.1975 |
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Com. Reg. No.: |
0110-01-019766 |
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Legal Form : |
Private |
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Line of Business : |
Trader of Sensor |
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No. of Employees : |
22 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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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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 – 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 |
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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 |
HOTRON CO., LTD.
OUTLINE
========
Country:
Company name: HOTRON CO., LTD.
Name in local language: HOTRON,
K.K.
Office address: 1-11-26, Hyakunin-cho, Shinjuku-ku,
Tokyo 169-0073
Office tel: 03-5330-9221
Office fax: 03-5330-9222
Website: www.hotron.co.jp
Business type: Trader
Industry: Sensor
Established: June 10, 1975
Capital: Jp. 11,428,000 yen
Employees: 22
Corporate formation: Private
Corporation No.: 0110-01-019766
(Tokyo Legal Affairs Bureau)
Paid in capital : Jp.
11,428,000 yen
Number of authorized shares : 500,000
shares
Shares issued : 9,000
shares
Number of shareholder : 1
Hotron Holdings Inc. holds 100 percent.
Activity Product/Service
Description
-------------------------------------------------------------------------------
Trading Sensor
Service Repair
& maintenance work
President Mr. Tadamori Honda
Nationality: Japan
Director Mr.
Kanenao Sakamoto
Nationality: Japan
Director Mr. Masanori Takizawa
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.
- Taiwan Hotron Co., Ltd.
- Hotron Irelend Ltd.
- Honda Electron Co., Ltd.
- Heast Co., Ltd.
Home address: 6-32-8, Seijo, Setagaya-ku, Tokyo
Currency: (local
currency - Jp. yen)
-------------------------------------------------------------------------------------
Year |
Sales | Net Income
-------------------------------------------------------------------------------------
|
2009 |
2,119,000,000 |
n. a. |
|
2010 |
1,810,000,000 |
n. a. |
|
2011 |
1,766,000,000 |
n. a. |
|
2012 |
1,976,000,000 |
34,060,000 |
|
2013 |
1,987,000,000 |
n. a. |
|
2014 |
2,118,000,000 |
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 |
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|
|
5/31/2012 |
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Current assets |
815 |
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Fixed assets |
341 |
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Total Assets |
1,157 |
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Current liabilities |
626 |
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Fixed liabilities |
288 |
|
Shareholders' equity |
242 |
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Paid up capital |
10 |
|
Retained earnings |
232 |
|
Total Liabilities & Net
Assets |
1,157 |
*Bank Details*
============
Bank Name : Bank of
Tokyo-Mitsubishi UFJ, Ltd.
Branch : Toranomon
Bank Name : Mizuho Bank, Ltd.
Branch : Shinjuku-nishiguchi
Bank Name : Sumitomo Mitsui
Banking Corp.
Branch : Jiyugaoka
*Credit Opinion*
=============
The subject is a subsidiary of Hotron Holdings Inc., and is acting as an
exclusive sales agent for Honda Electron Co., Ltd.
Its performance has been linked up with that of Honda Electron.
Although the detailed net income data has not been lodged, the basic
business structure appears to be stable.
Negative factors are not observed in particular at present.
*Main Products
& Services*
======================
Sales of the sensors manufactured by Honda Electron Co., Ltd.
*Address*
=========
Registered address is the same as the operational address.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
June 10, 1975 Incorporated with an investment of JPY 10
million.
January 10, 2013 Increased the capital to JPY 11,428,000.
April 1, 2013 Became a subsidiary of Hotron Holdings
Inc., as it was founded as the
holding company of
Hotron group companies.
*Suppliers*
==========
Honda Electron Co., Ltd.(95%)
Hotron Holdings Inc.(5%)
*Customers*
==========
Nabtesco Corp.
Nabco Door Co., Ltd.
Hotron Ireland Ltd.
Nabco System Inc.
Mitsubishi Precision, Ltd.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
-- |
|
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.