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Report Date : |
01.03.2014 |
IDENTIFICATION DETAILS
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Name : |
JAPAN SECURITY SYSTEM INC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
August 2004 |
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Com. Reg. No.: |
2100-01-051374 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of security cameras &
peripherals |
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No. of Employees : |
30 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 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 exceeds 225% 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
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Source
: CIA |
JAPAN SECURITY SYSTEM INC
REGD NAME: KK
Nihon Bouhan System
MAIN OFFICE: World
Trade Center Bldg 9F, 2-4-1 Hamamatsucho Minatoku Tokyo 105-0013
Tel: 003-0809-1217
Fax: 03-6809-1701
*.. The is its Fukuoka
Branch Office
E-Mail address: info@js-sys.com
Wholesale of
security cameras & peripherals
Sendai, Nagoya, Osaka
Hiroshima, Fukuoka
Taiwan
(subcontracted)
IZUMI KAKU, PRES
Fumika Kaku, s/mgn
dir
Tomofumi Nishiyama
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,065 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
10 M
TREND UP WORTH Yen 227 M
STARTED 2004 EMPLOYES 30
WHOLESALER SPECIALIZING IN SECURITY/MONITOR CAMERAS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Izumi Kaku in order to make most
of his experience in the subject lien of business, as On-Sales KK, and renamed
as captioned in Jan 2009. This is a
fabless mfr of security cameras and peripherals. Products are also mfr’d on OEM basis. Opened Taipei Office in Jan 2006. Products are subcontracted mfg to overseas
& domestic mfrs. Closed distributorship
agreements with NTT and Panasonic Corp in Jun 2010. Sales keep growing. The firm moved the headquarters to Tokyo from
Fukuoka in Jan 2013, with Fukuoka becoming its branch office.
The sales volume for Dec/2012 fiscal term
amounted to Yen 1,065 million, a 28% up from Yen 831 million in the previous
term. Sales growth owes much to the
Great North Japan Earthquake in March 2011, where after the security/monitoring
systems became a necessity and demand grew.
The recurring profit was posted at Yen 67 million and the net profit at
Yen 40 million, respectively, compared with Yen 45 million recurring profit and
Yen 29 million, respectively, a year ago.
For the term that ended Dec 2013 the recurring profit was projected at
Yen 75 million and the net profit at Yen 50 million, respectively, on a 3% rise
in turnover, to Yen 1,100 million. Final
results are yet to be released.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements.
Date Registered:
Aug 2004
Regd No.:
2100-01-051374 (Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Izumi Kaku (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures,
imports and exports security cameras: outdoor cameras, one cable cameras, dome
cameras, indoor standard cameras, digital video recorders, dummy cameras,
housing cases, camera/monitor brackets, and peripheral devices (--100%)..
Mfg is subcontracted to makers in China,
USA, Japan, other.
Clients: [Mfrs,
wholesalers, agent dealers] Arucom Inc (10%), Advance Co, Kumaden Co, AD
System,UM Tech Inc, Japan IT Communication Co, Nikko System, Panasonic Corp,
NTT, Japan Eagles, Saison Corp, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] AV Tech Corp, Geo Vision, other
Imports from USA, China, Korea, other
Payment record: No complaints
Location: Business area in
Hakata, Fukuoka-Pref. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
Bank of Fukuoka
(Hakata-Ekimae)
Nishinippon City Bank (Hakata-Ekimae)
Relations:
Satisfactory
(In
Million Yen)
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Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
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Annual
Sales |
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1,100 |
1,065 |
831 |
286 |
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Recur.
Profit |
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75 |
67 |
45 |
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Net
Profit |
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50 |
40 |
29 |
11 |
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Total
Assets |
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|
407 |
355 |
N/A |
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Current
Assets |
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|
372 |
339 |
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Current
Liabs |
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|
95 |
83 |
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Net
Worth |
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|
227 |
187 |
158 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.29 |
28.16 |
21.13 |
-10.90 |
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Current Ratio |
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.. |
391.58 |
408.43 |
.. |
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N.Worth Ratio |
.. |
55.77 |
52.68 |
.. |
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R.Profit/Sales |
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6.82 |
6.29 |
5.42 |
.. |
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N.Profit/Sales |
4.55 |
3.76 |
3.49 |
3.85 |
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Return On Equity |
.. |
17.62 |
15.51 |
6.96 |
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Notes: Accounting term was changed to Jan/Dec from Aug/July from the
31/12/2010 fiscal term. Growth rates are
adjusted on a 12-month basis.
Forecast (or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.07 |
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|
1 |
Rs.103.61 |
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Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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 |
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-- |
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.