MIRA INFORM REPORT

 

 

Report Date :

12.12.2014

 

IDENTIFICATION DETAILS

 

Name :

JEPICO CORPORATION

 

 

Registered Office :

Shinjuku Front Tower 34F., 2-21-1, Kita-Shinjuku, Shinjuku-Ku, Tokyo 169-0074

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

17.11.1972

 

 

Com. Reg. No.:

0111-01-009890

 

 

Legal Form :

Private

 

 

Line of Business :

Trader of Electronic Components.

 

 

No of Employees :

97

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

 

 

 

 

COMPANY NAME

 

JEPICO CORPORATIO

 

 

OUTLINE

========

Country:                                                Japan

Company name:                        JEPICO CORPORATION

Name in local language:             JEPICO, K.K.  

Office address:                          Shinjuku Front Tower 34F., 2-21-1, Kita-shinjuku, Shinjuku-ku, Tokyo 169-0074

Office tel:                                              03-6386-0611

Office fax:                                              03-5386-8234

Website:                                               www.jepico.co.jp

Business type:                          Trader

Industry:                                                Electronic components

Established:                              November 17, 1972

Capital:                                                 Jp. 252,761,864 yen

Employees:                               97

Corporate formation:                   Private 

Corporation No.:                         0111-01-009890 (Tokyo Legal Affairs Bureau)

 

 

MAJOR SHAREHOLDERS

=====================

Paid in capital :                          Jp. 252,761,864 yen

Number of authorized shares :     9,100,000 shares

Shares issued :                         5 035,882 shares

Number of shareholder :              81

 

Name of shareholders                                         Number of shares (%)

-----------------------------------------------------------------------------------------------------------

Ms. Hiroko Tanabe                                             574,091 shares (11.4)

Mr. Kin-ichi Ohno, President                               503,588 shares (10.0)

Sister Labo Inc.                                                 397,835 shares ( 7.9)

Bank of Tokyo-Mitsubishi UFJ, Ltd.                                 130,000 shares ( 2.6)

Employees shareholders fund                             94,200 shares ( 1.9)

 

 

DETAILED PRODUCT CLASSFICATION & ACTIVITY

===========================================

Activity                          Product/Service Description

-------------------------------------------------------------------------------

Trading              Electronic components

 

 

COMPANY MANAGEMENT

==================

President                                  Mr. Kinichi Ohno

Nationality:                                Japan

 

Senior Managing Director            Mr. Hidekazu Okubo

Nationality:                                Japan

 

Managing Director                      Mr. Hiroki Yamakawa

Nationality:                                Japan

 

Director                                                 Mr. Kazuo Adachi

Nationality:                                Japan

 

Auditor                                                  Mr. Hiroshi Kuboniwa

Nationality:                                Japan

 

Note: The names of director(s) and auditor(s) are phonetically spelt.

 

 

*Key Personnel*

==============

Mr. Kinichi Ohno

President and representative director

Born on December 5, 1954

Home address: 5-14-7, Tagara, Nerima-ku, Tokyo 179-0073

 

 

FINANCIALS

===========

Currency: (local currency - Jp. yen)

-------------------------------------------------------------------------------------

 Year |         Sales            |      Net Income    

-------------------------------------------------------------------------------------

2009

5,594,039,000

111,531,000

2010

4,581,040,000

2,495,000

2011

4,995,520,000

loss 81,858,000

2012

5,305,888,000

75,348,000

2013

5,753,359,000

137,711,000

2014

5,118,666,000

40,539,000

 

 

FINANCIAL DESCRIPTION

=====================

*Book Closing*

============

March 31st

 

 

*Financials*

==========

Balance Sheet

 

 

 

Unit: millions of JP yen

 

 

 

                          

3/31/2012

3/31/2013

3/31/2014

Current assets  

4,207

3,918

3,426

Fixed assets           

522

510

563

Total Assets       

4,730

4,428

3,989

　

　

　

　

Current liabilities     

3,042

2,862

2,257

Fixed liabilities       

504

268

427

Shareholders' equity    

1,177

1,283

1,292

 Paid up capital      

252

252

252

 Capital reserves      

146

146

146

 

 

Retained earnings    

1,560

1,666

1,675

 Treasury stock         

-781

-781

-781

Valuation & adjustment 

6

13

11

Total Net Assets       

1,184

1,297

1,304

Total Liabilities & Net Assets     

4,730

4,428

3,989

 

*Bank Details*

============

Bank Name :     Bank of Tokyo-Mitsubishi UFJ, Ltd.

Branch :            Shinjuku-nishi

 

Bank Name :     Sumitomo Mitsui Banking Corp.

Branch :            Shinjuku-nishiguchi

 

Bank Name :     Mizuho Bank, Ltd.

Branch :            Shinjuku-nishiguchi

 

 

*Credit Opinion*

=============

The subject is a Tokyo-based mid-sized firm specializing in trading of electro components and semiconductor together with system integration and software development.

Sales has been almost flat with some fluctuation of net income.

As an overall performance, it has been in a fair situation.

Negative factors are not observed in particular at present except for a weaker currency for import business.

Our standard suggestion would be up to US$ 450,000 on terms of 90 days.

 

LOCAL BRANCHES & MANAGEMENT

================================

Branch name:                Nagoya branch

Branch address:            Izumi, Higashi-ku, Nagoya-shi

----------------------------------------------------------------------------------------------------

Branch name:                Osaka branch

Branch address:            Miyahara, Yodogawa-ku, Osaka-shi

----------------------------------------------------------------------------------------------------

 

One overseas branch is in Taipei.

 

 

PRODUCT, TECHNOLOGY, SERVICE DESCRIPTION

========================================

*Main Products & Services*

======================

Export, import and wholesale of electronic components and development of software.

Originally designed items

Semiconductors and other electronic components

System integration and development of software on contract basis

 

 

ORGANIZATION STRUCTURE

======================

*Address*

=========

Registered address is the same as the operational address.

 

Note: The quoted name of the company in the order info. is incorrect.

“Shinjuku Dai” has nothing to do with the company name.

 

 

*Company History*

================

Date                 Development

-----------------------------------------------------------------------------------------------

November 17, 1972       Incorporated in Shinjuku with an investment of JPY 3 million.

1976                             Increased the capital to JPY 6 million.

1977                             Increased the capital to JPY 12 million.

1981                             Increased the capital to JPY 21 million.

1984                             Increased the capital to JPY 48 million.

                                                Founded a subsidiary in the United States.

March 2001                   Increased the capital to JPY 198.5 million.

August 2001                  Increased the capital to JPY 227.6 million.

2002                             ISO9001:2000 certified.

2004                             ISO14001:1996 certified.

2008                             ISO27001:2005 certified.

                                    Increased the capital to JPY 252.76 million.

September 2011            Relocated the head office to the current address.

2013                                         Founded a subsidiary in Germany.

 

 

TRADE REFERENCES

================

*Suppliers*

==========

MICROSEMI Corp.

Alter Technology Tuv Nord S.A.U.

COM DEV Ltd.

Sakusa Techno Inc.

Eon Silicon Solution Inc.

VPT Inc.

Dial Light Corp.

Tesat Space Com GmbH & Co., KG

 

 

*Customers*

==========

Mitsubishi Electric Corp. and its group companies

Mitsubishi Heavy Industries, Ltd.

NEC Corp. and its group companies

Hitachi Ltd. and its group companies

Toshiba Corp. and its group companies

Fujitsu Ltd. and its group companies

JAXA(Government of Japan)

 

 

SUBSIDIARIES, JOINT-VENTURES & AFFILIATES

=========================================

Company name:            JEPICO America Inc.

Country:                        U.S.A.

Status:                          Subsidiary 

----------------------------------------------------------------------------------------------------

Company name:            JEPICO Europe GmbH

Country:                        Germany

Status:                          Subsidiary   

----------------------------------------------------------------------------------------------------

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.21

UK Pound

1

Rs.97.80

Euro

1

Rs.77.48

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

TPT

 

 

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%)

 

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