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Report Date : |
25.03.2014 |
IDENTIFICATION DETAILS
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Name : |
LOGITEC INA SOLUTIONS CO LTD |
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Registered Office : |
8268-1000 Misuzu Ina City Nagano-Pref
396-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
October 2010 |
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Com. Reg. No.: |
1000-01-023959 (Nagano-Ina) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of PC’s, Peripherals, Networking Equipment as well as
Software |
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No. of Employees |
67 |
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 : |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
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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 2012 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 200% 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 |
LOGITEC INA SOLUTIONS CO LTD
Logitec Ina
Solutions KK
8268-1000 Misuzu
Ina City Nagano-Pref 396-0001 JAPAN
Tel:
0265-74-1450 Fax: 0265-74-1400
E-mail: (thru the URL)
Manufacturer of
PC’s, Peripherals, Networking Equipment as well as Software
Tokyo
At the
caption address
JUNJI
HADA, PRES Koji Kajiura,
dir
Shun’ichi
Hirasawa, dir Osamu
Shintaku, dir
Masaki
Tanaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,669 M
PAYMENTSSlow but Correct CAPITAL Yen 100 M
TREND UP WORTH Yen 574 M
STARTED 2010 EMPLOYES 67
MFR OF
PC’S & PERIPHERALS, WHOLLY OWNED BY LOGITEC CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMNTS.
The subject company was established on the basis of Nagano Factory of
Logitec Corporation (See REGISTRATION)
separated as an independent entity. All
members of Nagano Factory moved to the new company. Junji Hada is concurrently pres at the
parent. Executives are all the same with
the parent. Operations started in Apr
2011. This is a specialized mfr of PC’s,
peripherals, networking equipment as well as software. Goods are also imported from China, Taiwan,
Hong Kong, other. Clients include
electronics makers.
The sales volume for Mar/2013 fiscal term amounted to Yen 3,669 million,
a 9% up from Yen 3,365 million in the previous term. The profits, however, deteriorated due to the
foreign exchange losses. The net profit
was posted at Yen 180 million, compared with Yen 248 million a year ago. The financials are only partially disclosed
for this term.
For the current term ending Mar 2014 the net profit is projected at Yen
250 million, on a 5% rise in turnover, to Yen 3,850 million.
Financial situation considered FAIR and good for ORDINARY business
engagements.
Date Registered: Oct 2010
Regd
No.: 1000-01-023959
(Nagano-Ina)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,000 shares
Issued: 2,000 shares
Sum: Yen
100 million
Major shareholders (%):
Logitec Corp* (100)
*.. Mfr of networking
equipment, storage products, PC’s & peripherals, Tokyo, founded
1992, capital Yen 200 million, sales Yen 5,688 million, net losses Yen 33
million, employees 24, pres Junji Hada, concurrently
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
PC’s & peripherals, software, other (--100%)
Clients: [Mfr,
wholesalers] Elecom Corp, Hitachi High Technologies, consumers, other
No. of accounts: 100
Domestic areas of
activities: Nationwide
Suppliers [Mfrs, wholesalers] Takebishi Corp,
Ryoyo Electro Co, other.
Also imports from Taiwan, Hong Kong, China, other
Payment record: Slow but Correct
Location:
Business area in Ina City, Nagano=pref.
Office premises at the caption address are owned by the parent, Logitec
Corp, and maintained satisfactorily.
Bank References:
SMBC (Bingomachi)
MUFG (Osaka-Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
|
3,850 |
3,669 |
3,365 |
0 |
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Recur.
Profit |
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Net
Profit |
|
250 |
180 |
248 |
-1 |
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Total
Assets |
|
|
N/A |
1,412 |
198 |
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Current
Assets |
|
|
|
1,360 |
198 |
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Current
Liabs |
|
|
|
961 |
1 |
|
Net
Worth |
|
|
574 |
448 |
198 |
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Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
4.93 |
9.03 |
#DIV/0! |
.. |
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Current Ratio |
.. |
.. |
141.52 |
19,800.00 |
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N.Worth Ratio |
.. |
.. |
31.73 |
100.00 |
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R.Profit/Sales |
.. |
.. |
.. |
.. |
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N.Profit/Sales |
6.49 |
4.91 |
7.37 |
- - - |
|
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Return On Equity |
.. |
31.36 |
55.36 |
-0.51 |
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Notes:
Financials are only partially disclosed for the 31/03/2013 fiscal term.
Forecast
(or estimated) figures for the 31/03/2014 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.70 |
|
UK Pound |
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
-- |
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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.