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Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
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Name : |
PROLINX CORPORATION |
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Registered Office : |
SIA Kanda Square Bldg 3F, Kanda-Konyacho Chiyodaku Tokyo 101-0035 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
March, 2009 |
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Com. Reg. No.: |
0100-01-123729 (Tokyo-Chiyodaku |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of optical instruments, equipment, devices |
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No. of Employees : |
14 |
RATING & COMMENTS
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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 |
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Maximum Credit Limit : |
Yen 10.2 million |
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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 – 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 |
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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.
|
Source
: CIA |
PROLINX
CORPORATION
REGD NAME: KK Prolinx
MAIN OFFICE: SIA Kanda Square Bldg 3F, Kanda-Konyacho
Chiyodaku Tokyo 101-0035 JAPAN
Tel:
03-5256-2051
Fax: 03-5256-2272
URL: http://www.prolinx.co.jp
E-Mail address: (thru the URL)
Import, export, wholesale of optical instruments, equipment, devices
Nil
YASUO SHIINA, PRES Mayumi
Shiina, dir
Kenji Inose, dir Yoshihide
Furukawa, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 560 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 50 M
TREND SLOW WORTH Yen 99 M
STARTED 2009 EMPLOYES 14
TRADING FIRM SPECIALIZING IN OPTICAL INSTRUMENTS, DEVICES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 10.2 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Yasuo Shiina in order to make
most of his experience in the subject line of business. This is a trading firm for import, export and
wholesale of optical equipment, instruments, devices, other (See OPERATION). Clients include major electronics makers,
other, nationwide.
Financials are only partially disclosed.
Profits are not disclosed and only estimated.
The sales volume for Dec/2012 fiscal term amounted to Yen 560 million, a
25% down from Yen 750 million in the previous term. The net profit is estimated posted at Yen 20
million, compared with Yen 25 million a year ago.
For the term that ended Dec 2013 the net profit was projected at Yen 22
million, on a 5% rise in turnover, to Yen 590 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 10.2 million, on 30 days normal terms.
Date Registered: Mar 2009
Regd No.: 0100-01-123729 (Tokyo-Chiyodaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
4,000 shares
Issued:
1,000 shares
Sum: Yen 50 million
Major shareholders
(%): Hikari Corporation* (100)
*.. Holding company
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales optical equipment/instruments: optical fiber amplifiers, optical
fiber for CO2 lasers, fiber bundles/assemblies, optical fiber connector endface
testing systems, portable optical fiber polishers, plasma work station,
high-power laser diode, wavelength stabilizing gratings, micro optics, RGB
optic fiber sencer, other (--100%)
Clients: [Mfrs,
wholesalers] NEC Magnus Communications, Panasonic Corp, Sony Corp, Shimadz
Corp, Synclayer Inc, Cannon Corp, Toshiba Corp, Olympus Corp, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] IPG Inc, ONDAX Inc, Opsira GmbH, ZEMAX Development Corp, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Kanda-Ekimae)
Resona Bank
(Kanda)
Relations:
^Satisfactory
|
Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual Sales |
|
590 |
560 |
750 |
750 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
22 |
20 |
25 |
25 |
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Total Assets |
|
|
N/A |
N/A |
N/A |
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Net Worth |
|
|
99 |
79 |
54 |
|
Capital, Paid-Up |
|
|
50 |
50 |
50 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
5.36 |
-25.33 |
0.00 |
- - - |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
3.73 |
3.57 |
3.33 |
3.33 |
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Notes: Financials are only partially disclosed. The 31/12/2010 is the initial accounting
term.
Profits are not disclosed and only estimated.
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.70 |
|
|
1 |
Rs.100.97 |
|
Euro |
1 |
Rs.84.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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 |
|
<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.