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Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
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Name : |
DEXERIALS CORPORATION |
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Registered Office : |
Gate City Osaka East Tower 8F, 1-11-2
Osaki Shinagawaku Tokyo 141-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
June 2012 |
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Com. Reg. No.: |
0100-01-147620 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of electronic equipment, bonding materials, optics
materials |
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No. of Employees |
1,711 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
DEXERIALS CORPORATION
REGD NAME: Dexerials
KK
MAIN OFFICE: Gate
City Osaka East Tower 8F, 1-11-2 Osaki Shinagawaku Tokyo 141-0032
JAPAN
Tel:
03-5435-3941 Fax: 03-5435-3074
URL: http://www.dexerials.jp
E-Mail address: (thru the URL)
Mfg of electronic equipment,
bonding materials, optics materials, other
Osaka
USA, Europe, China
(3), Korea, Taiwan, Hong Kong, Singapore (--subsidiaries)
Kanuma (3),
Takajo, Nakada, Neagari (Tot 6); overseas subsidiaries (Tot 6)
TAKASHI ICHINOSE,
PRES
Hisashi Ando, dir
Akira Nozawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,903 M*
PAYMENTS NO COMPLAINTS CAPITAL Yen
15,747 M
TREND UNDETD WORTH Yen 31,998 M*
STARTED 2012 EMPLOYES 1,711
*..
Results for 6 months ending Mar/2013
MFR SPECIALIZING IN ELECTRONIC EQUIPMENT,
OTHERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established originally in 1962 for manufacturing
electronic components and thru reorganization and merger the firm finally
reorganized and renamed as the captioned.
This is a specialized mfr of electronics components, bonding materials,
optics materials, other (See OPERATION). The reorganization and merger took time, in
selection of stock holders, merger arrangement, other and the actual operations
started in Oct 2012.
Financials for the initial accounting term were for 6 months due as
stated above.
The sales volume for the initial accounting term for Mar/2013 fiscal
term for six months amounted to Yen 3,903 million. Posted recurring loss of Yen 1,750 million
and net profit at Yen 504 million, respectively. Merger and absorption contributed to raise
profits.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 2,500 million and the net profit at Yen 1,065 million, respectively, on an
adjusted 12-month rise in turnover, to Yen 8,200 million. Final results are yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business
engagements.
Date Registered: Jun
2012
Regd No.:
0100-01-147620 Tokyo-Shinagawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.2 million shares
Issued: 314,940 shares
Sum: Yen 15,747 million
Major
shareholders (%): Development Bank of Japan Inc (60), Investment Funds (40)
No.
of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
electronics components, bonding materials, optics materials, other
(--100%). Goods are both imported and
exported.
(Mfg
materials): anisotropic conductive film (ACF), optical elasticity resin (SVR), solar
cell conductive film for photovoltaic modules, industrial adhesive, industrial
adhesive tapes, UV curable resin for optical disks, sputtering targets, optic
materials, touch panel, self-control protector (SCP), inorganic wave plate
& inorganic polarizer, other (as cited from the firm’s website)
Clients: [Mfrs,
wholesalers] UKC Electronics, Samsung Display Co Ltd, Sony Corp, Elematec Corp,
LG Japan, Nitto Denko Corp, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Inabata & Co, KISCO, Nihon Denkei Co, Nagase & Co, Rolan
Corp, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
SMBC (Gotanda)
MUFG (H/O)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
8,200 |
3,903 |
|
Recur.
Profit |
|
2,500 |
-1,750 |
|
Net
Profit |
|
1,065 |
504 |
|
Total
Assets |
|
|
85,860 |
|
Current
Assets |
|
|
21,660 |
|
Current
Liabs |
|
|
12,087 |
|
Net
Worth |
|
|
31,998 |
|
Capital,
Paid-Up |
|
15,747 |
15,747 |
|
Div.P.Share(¥) |
|
|
0.00 |
|
<Analytical Data> |
(%) |
(%) |
|
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S.Growth Rate |
5.04 |
- - - |
|
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Current Ratio |
.. |
179.20 |
|
|
N.Worth Ratio |
.. |
37.27 |
|
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R.Profit/Sales |
30.49 |
-44.84 |
|
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N.Profit/Sales |
12.99 |
12.91 |
|
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Return On Equity |
.. |
1.58 |
|
Notes: 31/3/213 fiscal term is the initial accounting term from the
reorganization for 6 months, the grow rate is adjusted on a 12-month basis.
Forecast (or
estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.26 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
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Report Prepared
by : |
NIS |
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 |
|
|
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 |
|
|
-- |
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.