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Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
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Name : |
E-GLOBALEDGE CORPORATION |
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Registered Office : |
Nakameguro GT Tower 7F, 2-1-1 Kamimeguro Meguroku Tokyo 153-0051 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
October 1990 |
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Com. Reg. No.: |
0132-01-007793 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, Exporter and wholesaler of electronic instruments, semiconductors, TV camera |
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No of Employees : |
133 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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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Maximum Credit Limit : |
Yen 175.2 Million |
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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 – 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 |
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Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
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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 |
E-GLOBALEDGE
CORPORATION
E. Globaledge KK
Nakameguro GT Tower 7F, 2-1-1 Kamimeguro
Meguroku Tokyo 153-0051 JAPAN
Tel: 03-6412-6011 Fax: 03-6412-6015
URL: http://www.e-globaledge.com
E-Mail address: (thru the URL)
Import, export, wholesale of electronic
instruments, semiconductors, TV camera
Osaka, Kumamoto, Tokyo
(Chiyodaku)
Hong Kong, USA (2), Russia,
Singapore, other
Yamanashi (Technical Center)
NORIO SAITO, PRES Shigeru Sakamoto, dir
Shigekazu Tada, dir Konosuke Nomura, dir
Hiroyuki Yoshimori, dir Takazo Kojo, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 7,916 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 1,554 M
TREND SLOW WORTH Yen
1,744 M
STARTED 1990 EMPLOYES 133
TRADING FIRM SPECIALIZING IN ELECTRONIC INSTRUMENTS, OWNED
BY OLYMPUS CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT
YEN 175.2 MILLION, ON 30 DAYS NORMAL TERMS.
The
subject company was established originally in 1990 by Nissho Iwai Corp (now
Sojitz Corp), and in Apr 2014 became a wholly owned subsidiary of Olympus
Corporation (See REGISTRATION). This is a trading firm for import, export
and wholesale of electronic instruments: analytic instruments, semiconductor
integrated circuit, TV cameras (monitoring), other. Has 6 overseas subsidiaries and offices. As a technical center in Yamanashi. Clients include telecommunication companies,
electronic mfrs, other
The
sales volume for Mar/2013 fiscal term amounted to Yen 7,916 million, a 29% down
from Yen 11,032 million in the previous term.
Semiconductor-related demand declined.
The operations plunged into the red to post Yen 151 million recurring
loss and Yen 169 million net losses, respectively, compared with Yen 39 million
recurring profit and Yen 13 million net profit, respectively, a year ago.
For
the term that ended Mar 2014 the operations were projected to come back to
profitability to post Yen 35 million recurring profit and Yen 20 million net
profit, respectively, on an 11% rise in turnover, to Yen 8,750 million. Final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 175.2 million, on 30 days normal terms.
Date Registered:
Oct 1990
Regd No.: 0132-01-007793
(Tokyo-Meguroku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 124,399
shares
Issued: 31,099
shares
Sum: Yen
1,554.98 million
Major
shareholders (%): Olympus
Corp* (100)
*.. Pioneer in lightweight SLR cameras, Tokyo, founded 1919,
listed Tokyo S/E, capital Yen 124,520 million, sales Yen 743,851 million,
operating profit Yen 35,077 million, recurring profit Yen 13,046 million, net
profit Yen 8,020 million, total assets Yen 970,772 million, net worth Yen
278,917 million, employees 30,231, pres Hiroyuki Sasa
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Imports, exports and wholesales electronic instruments & parts: analytical
instruments, semiconductor integrated circuits, TV cameras (for monitoring),
others (--100%)
Clients:
[Mfrs, wholesalers] L Technology SA, Daikin Industries, Fujitsu Ltd, Rohm Co,
KDDI, Sony Semiconductors, other
No.
of accounts: 300
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Casio Electric Ind, Mitsubishi Electric, Mitsuboshi Diamond
Ind, Nippon Seisen Co, Four Technos Inc, other
Payment record: No complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactory.
Bank References:
MUFG
(Shibuya-Chuo)
SMBC
(Shinjuku-Nishiguchi)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
8,750 |
7,916 |
11,032 |
12,916 |
|
Recur.
Profit |
|
35 |
-151 |
39 |
187 |
|
Net
Profit |
|
20 |
-169 |
13 |
57 |
|
Total
Assets |
|
|
5,739 |
7,016 |
8,984 |
|
Current
Assets |
|
|
4,951 |
6,183 |
8,070 |
|
Current
Liabs |
|
|
3,870 |
4,992 |
6,981 |
|
Net
Worth |
|
|
1,744 |
1,898 |
1,890 |
|
Capital,
Paid-Up |
|
|
1,554 |
1,554 |
1,554 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
10.54 |
-28.25 |
-14.59 |
116.02 |
|
|
Current Ratio |
.. |
127.93 |
123.86 |
115.60 |
|
|
N.Worth Ratio |
.. |
30.39 |
27.05 |
21.04 |
|
|
R.Profit/Sales |
0.40 |
-1.91 |
0.35 |
1.45 |
|
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N.Profit/Sales |
0.23 |
-2.13 |
0.12 |
0.44 |
|
|
Return On Equity |
.. |
-9.69 |
0.68 |
3.02 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.32 |
|
|
1 |
Rs. 99.41 |
|
Euro |
1 |
Rs. 80.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
|
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.