. MIRA INFORM REPORT
|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
KING TECH CORP |
|
|
|
|
Registered Office : |
Pacific Marks Nihombashi-Tomizawacho 2F, 10-18 Nihombashi-Tomizawacho,
Chuoku Tokyo 103-0006 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
October, 2000 |
|
|
|
|
Com. Reg. No.: |
(Tokyo-Chuoku) 071379 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
· importer and wholesaler of storage devices from Cremax Tech & Raidon Tech (both Taiwanese mfrs) in Japan. Subject is a trading firm, with fabless operations, for
importing and wholesaling of external storage devices & peripherals. |
|
|
|
|
No. of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 |
|
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. 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 |
KING TECH CORP
KK King Tech
Pacific Marks Nihombashi-Tomizawacho 2F, 10-18 Nihombashi-Tomizawacho
Chuoku Tokyo 103-0006 JAPAN
Tel:
03-5643-2671 Fax: 03-5643-2672
URL: www.kingtech.co.jp
E-mail: (thru
the URL)
Import, wholesale of external storage devices & peripherals
Tokyo (Technical Division)
(Fabless operation)
YUAN YAO WANG, PRES (a Taiwanese resident)
Masaaki Tanabe, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,619 M
PAYMENTS SLOW CAPITAL Yen 99 M
TREND SLOW WORTH Yen 179 M
STARTED 2000 EMPLOYES 30
TRADING FIRM SPECIALIZING IN EXTERNAL STORAGE UNITS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established by Yuan Yao Wang, a Taiwanese
resident in order to import and wholesale of storage devices from Cremax Tech
& Raidon Tech (both Taiwanese mfrs) in Japan. This is a trading firm, with fabless
operations, for import and wholesale of external storage devices &
peripherals. Known for fabless operation
and direct customer support services.
Goods are imported from Taiwan, China, USA, other. Clients include major electronic device mfrs,
wholesalers, universities, other, nationwide.
The sales volume for Sept/2012 fiscal term amounted to Yen 1,619
million, a 48% down from Yen 3,111 million in the previous term. The firm cut off unprofitable operations and
concentrated on really profitable business.
The recurring profit was posted at Yen 4 million and the net profit at
Yen 2 million, respectively, compared with Yen 2 million recurring profit and
Yen 1 million net profit, respectively, a year ago.
For the current term ending Sept 2013 the recurring profit is projected
at Yen 5 million and the net profit at Yen 3 million, respectively, on a 5%
rise in turnover, to Yen 1,700 million.
.
The financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Oct
2000
Regd No.: (Tokyo-Chuoku)
071379
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 8,000 shares
Issued: 1,994 shares
Sum: Yen 99.7 million
Major shareholders
(%):
Yuan Yao Wang (49), Talent Gain
Developments Ltd (16)
No. of
shareholders: 57
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales, including fabless operations, external storage devices (70%),
peripherals (15%), customer support services, others (--15%). (Breakdowns are all about).
(Handling items): Interface card,
SAS raid card, Raid card, Raid box, removable, storage, tape device, tape
library, removable hard disk, UPS, software, media networking equipment,
security, other..
(Areca Raid
products): External Raid controller, PCI raid HBA’s, PCIe to SAS raid HBA’s, SAS
non-raid ABA’s, internal raid subsystems, external PCI raid HBA’s, external
raid box, other. (cited from the firm’s
website).
Clients: [Electronics
mfrs, media & medical industries] NTT Data Tokai, IBM Japan, Daiwabo
Information System, Soft Bank BB, Japan Business Computer, Wintec Inc, Ricoh
Co, Tokyo University, Visual Technology, IT Crew, Moroden Shoji, Tanaka
Electric Inc, NEC Computer Techno, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] IBM Japan, IIM, James Communication, Accordance Systems, Cremax Tech,
Raidon Tech (--Taiwan), Panasonic Corp (ex Matsushita Electric Ind), NI &
Co, Plat’Home Co, Dell, Daiwabo Information System, Transcend Japan,
Flectronics International, Softbank BB, Net World, other.
Payment record: Slow
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Ginzadori)
Resona Bank (Muromachi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
Annual Sales |
|
1,700 |
1,619 |
3,111 |
3,297 |
|
Recur. Profit |
|
5 |
4 |
2 |
3 |
|
Net Profit |
|
3 |
2 |
1 |
1 |
|
Total Assets |
|
|
1,068 |
1,542 |
1,278 |
|
Current Assets |
|
|
803 |
1,283 |
1,032 |
|
Current Liabs |
|
|
824 |
1,193 |
835 |
|
Net Worth |
|
|
179 |
177 |
179 |
|
Capital, Paid-Up |
|
|
99 |
99 |
99 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth
Rate |
5.00 |
-47.96 |
-5.64 |
29.04 |
|
|
Current Ratio |
|
.. |
97.45 |
107.54 |
123.59 |
|
N.Worth
Ratio |
.. |
16.76 |
11.48 |
14.01 |
|
|
R.Profit/Sales |
|
0.29 |
0.25 |
0.06 |
0.09 |
|
N.Profit/Sales |
0.18 |
0.12 |
0.03 |
0.03 |
|
|
Return
On Equity |
.. |
1.12 |
0.56 |
0.56 |
|
Notes: Forecast figures for the 30/09/2013 fiscal term term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.98 |
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 |
|
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.