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Report Date : |
09.01.2014 |
IDENTIFICATION DETAILS
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Name : |
IMATION CORPORATION JAPAN |
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Registered Office : |
Aoyama Oval Bldg 11F, 5-52-2 Jingumae
Shibuyaku Tokyo 150-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
May 1996 |
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Com. Reg. No.: |
0110-01-063811
(Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter and wholesaler of AV equipment & accessories
including traditional storage (optical & magnetic) optical disk, magnetic
tapes; secure & scalable storage (flash & HDD) RDX, USB flash memory;
audio & video information (digital audio & accessories) headphone,
speaker, consumer accessories; defender collection (high security products)
flash hard disk & optical disk |
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|
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No. of Employees : |
117 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Slow but Correct |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
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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. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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
exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth,
and an aging and shrinking population are other major long-term challenges for
the economy.
|
Source : CIA |
IMATION CORPORATION JAPAN
Imation KK
Aoyama Oval Bldg
11F, 5-52-2 Jingumae Shibuyaku Tokyo 150-0001 JAPAN
Tel:
03-5774-3901 Fax: 03-5774-3903
E-Mail address: (thru the URL)
Import,
export, wholesale of AV equipment, memory systems, other
Osaka,
Fukuoka
USA
(parent)
KUNIYOSHI
MATSUI, PRES Masashi Katsura, mgn
dir
Hideaki
Takahashi, dir Moneta
Sekine, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 17,186 M
PAYMENTSSlow but Correct CAPITAL Yen 480 M
TREND SLOW WORTH Yen 2,772 M
STARTED 1996 EMPLOYES 117
TRADING FIRM SPECIALIZING IN AV EQUIPMENT & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Imation Corp (USA) as
its marketing arm in Japan. This is a trading
firm for import, export and wholesale of AV equipment & accessories: secure
& scalable storage, audio & video information, defender collection,
other. Clients include electronics
makers, wholesalers, other.
The sales volume for Dec/2012 fiscal term amounted to Yen 17,186
million, a 7% down from Yen 18,465 million in the previous term. The recurring profit was posted at Yen 252195
million and the net profit at Yen 7297 million, respectively, compared with Yen
195 million recurring profit and Yen 97 million net profit, respectively, a
year ago.
For the term that ended Dec 2013 the recurring profit was projected at
Yen 270 million and the net profit at Yen 80 million, respectively, on a 5%
rise in turnover, to Yen 18,000 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May
1996
Regd No.: 0110-01-063811
(Tokyo-Shibuyaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
15,000 shares
Issued:
15,000 shares
Sum: Yen 480 million
Major shareholders
(%): Imation Corp (62), Asia Pacific Pte Ltd (38)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales AV equipment & accessories: traditional storage (optical
& magnetic) optical disk, magnetic tapes; secure & scalable storage
(flash & HDD) RDX, USB flash memory; audio & video information (digital
audio & accessories) headphone, speaker, consumer accessories; defender
collection (high security products) flash hard disk, optical disk, others
(--100%)
Clients: [Mfrs,
wholesalers] Askul Corp, Daiwabo Information System, Synex Infotec Corp, Otsuka
Corp, Centrade ME Ltd, Yamada Electric, IBM Japan, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers:
[Mfrs, wholesalers] IBM Japan, Hitachi Maxell, Dell, Mitsubishi Chemical Media,
TDK, Eizo Nanao Corp, Start Lab Inc, Imation Corporation, other
Payment
record: Slow but Correct
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (Tokyo)
MUFG (Shibuya-Meijidori)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual
Sales |
|
18,000 |
17,186 |
18,465 |
20,029 |
|
Recur.
Profit |
|
270 |
252 |
195 |
262 |
|
Net
Profit |
|
80 |
72 |
97 |
210 |
|
Total
Assets |
|
|
8,129 |
7,325 |
9,921 |
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Current
Assets |
|
|
7,163 |
6,881 |
9,411 |
|
Current
Liabs |
|
|
4,583 |
3,857 |
5,823 |
|
Net
Worth |
|
|
2,772 |
2,699 |
3,315 |
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Capital,
Paid-Up |
|
|
480 |
480 |
480 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.74 |
-6.93 |
-7.81 |
-7.86 |
|
|
Current Ratio |
|
.. |
156.30 |
178.40 |
161.62 |
|
N.Worth Ratio |
.. |
34.10 |
36.85 |
33.41 |
|
|
R.Profit/Sales |
|
1.50 |
1.47 |
1.06 |
1.31 |
|
N.Profit/Sales |
0.44 |
0.42 |
0.53 |
1.05 |
|
|
Return On Equity |
.. |
2.60 |
3.59 |
6.33 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
UK Pound |
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
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 |
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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 |
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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 |
|
<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.