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Report Date : |
28.06.2014 |
IDENTIFICATION DETAILS
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Name : |
INFINITEC CO LTD |
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Registered Office : |
Gotanda NN Bldg 3F, 2-12-19 Nishi-Gotanda Shinagawaku Tokyo 141-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 (Estimated) |
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Date of Incorporation : |
August 1999 |
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Com. Reg. No.: |
0107-01-017500 (Tokyo-Shinagawaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
developer and marketer
of Network Corresponding Av
System, Security-Related Equipment & Application, Voice/Image
Recognition-Related Solution, Software, Pc’s
& Peripherals as well as Software |
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|
|
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No of Employees : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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 – 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 |
INFINITEC CO LTD
KK Infinitec
Gotanda NN Bldg
3F, 2-12-19 Nishi-Gotanda Shinagawaku Tokyo 141-0031, JAPAN
Tel:
03-5759-6810 Fax: 03-5759-6820
URL: http://www.infinitec.co.jp
E-Mail address: info@infinitec.co.jp
developer and marketer of Network Corresponding Av System, Security-Related Equipment
& Application, Voice/Image Recognition-Related Solution, Software, Pc’s & Peripherals as well as
Software
Nil
Yonezawa
SHIN
HAGA, PRES Eiji Niwa,
mgn dir
Takashi
Uemura, dir Kazutoshi
Shimizume, dir
Tsuyoshi
Osawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 387 M
PAYMENTS Slow
But Correct CAPITAL Yen 50 M
TREND SLOW WORTH Yen 365 M
STARTED 1999 EMPLOYES 25
DEVELOPMENT OF NETWORK
CORRESPONDING AV SYSTEMS, OTHER
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated
from UKC Holdings Corp (See REGISTRATION). This is a developer and marketer of network
corresponding AV system, security-related equipment & application,
voice/image recognition-related solution, software, other. Clients include electronics mfrs, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 387 million, a
2% down from Yen 395 million in the previous term. The operations came back to prosperity to
post Yen 5 million recurring profit and Yen 7 million net profit, respectively,
compared with Yen 2 million recurring loss and Yen 77 million net losses,
respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 10 million and the net profit at Yen 5 million, respectively, on a 5% rise
in turnover, to Yen 405 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Aug 1999
Regd No.: 0107-01-017500 (Tokyo-Shinagawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
4,000 shares
Issued: 1,000
shares
Sum: Yen 50 million
Major shareholders
(%): UKC Holdings Corp* (60), Employees’ S/Holding Assn (30), Techno Care
Corp (10)
No. of
shareholders: 3
*.. Top-ranked electronic trading company in Japan, Tokyo, founded 2009,
listed Tokyo S/E, capital Yen 4,383 million, sales Yen 317,042 million,
operating profit Yen 6,925 million, recurring profit Yen 7,237 million, net
profit Yen 4,398 million, total assets Yen 118,436 million, net worth Yen
50,425 million, employees 1,352, pres Yukio Fukuju
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Development
& marketing of network corresponding AV system, security-related equipment
& application, voice-image recognition-related solution, PC’s &
peripherals, software, other (--100%)
Clients: [Mfrs,
wholesalers] Uchida Yoko Co, UKC Electronics, Kyoshin Communications, Techno
Care Corp, Nihon Unisys Ltd, NTT Data, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Miyuki Seiki Co, Takahata Electronics Corp, other
Payment
record: Slow But Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank
References:
·
Mizuho Bank (Gotanda)
·
SMBC (Gotanda)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
405 |
387 |
395 |
400 |
|
Recur.
Profit |
|
10 |
5 |
-2 |
|
|
Net
Profit |
|
5 |
7 |
-77 |
-53 |
|
Total
Assets |
|
|
500 |
480 |
532 |
|
Current
Assets |
|
|
58 |
55 |
|
|
Current
Liabs |
|
|
14 |
14 |
|
|
Net
Worth |
|
|
365 |
358 |
435 |
|
Capital,
Paid-Up |
|
|
50 |
50 |
50 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.65 |
-2.03 |
-1.25 |
-49.37 |
|
|
Current Ratio |
.. |
414.29 |
392.86 |
.. |
|
|
N.Worth Ratio |
.. |
73.00 |
74.58 |
81.77 |
|
|
R.Profit/Sales |
2.47 |
1.29 |
-0.51 |
.. |
|
|
N.Profit/Sales |
1.23 |
1.81 |
-19.49 |
-13.25 |
|
|
Return On Equity |
.. |
1.92 |
-21.51 |
-12.18 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.