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Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
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Name : |
SOLITON SYSTEMS KK |
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Registered Office : |
Four Season Bldg, 2-4-3 Shinjuku
Shinjukuku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
March 1979 |
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Com. Reg. No.: |
0111-01-011691 (Tokyo-Shinjukuku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of IT security, IT integration, software, video telecasting systems |
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No. of Employees : |
402 |
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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Maximum Credit Limits : |
Yen 312.8 Million |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
SOLITON SYSTEMS KK
KK Soliton Systems
Four Season Bldg, 2-4-3
Shinjuku Shinjukuku Tokyo 160-0022 JAPAN
Tel:
03-5360-3811
Fax: 03-3356-3622
E-Mail address: (thru the URL)
Mfg of
IT security, IT integration, software, video telecasting systems, other
Osaka,
Sapporo, Fukuoka, Nagoya, Sendai, other (Tot 9)
USA,
China
(subcontracted)
NOBUO
KAMATA, PRES Katsumori
Matsushima, dir
Kenji
Takeda, dir Nobuo
Kamata, dir
Yo
Yusa, dir Kazuya
Hashimoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 10,777 M
PAYMENTS No
Complaints CAPITAL Yen
1,326 M
TREND UP WORTH Yen 4,125 M
STARTED 1979 EMPLOYES 402
DEVELOPER OF IT SECURITY, IT INTEGRATION, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 312.8
MILLION, 30 DAYS NORMAL TERMS
The subject company was established on obtaining business advisory objectives from Intel Inc. This is a developer and processor of IT security, IT integration, software, other. Clients include major electronics mfrs, information system houses, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 10,777 million, a 3% up from Yen 10,443 million in the previous term. It security systems were in good and enlarged demand. The recurring profit was posted at Yen 982 million and the net profit at Yen 454 million, respectively, compared with Yen 468 million recurring profit and Yen 271 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 1,000 million and the net profit at Yen 500 million, respectively, on an 8% rise in turnover, to Yen 11,600 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max credit limit is estimated at Yen 312.8 million, on 30
days normal terms.
Date Registered: Mar 1979
Regd No.: 0111-01-011691 (Tokyo-Shinjukuku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
10.6 million shares
Issued:
2,653,000 shares
Sum: Yen 1,326.5 million
Major shareholders (%): Zen-Noboks (92%), Employees’
S/Holding Assn (5), Nobuo Kamata (3)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Develops & processes IT security (security management, authentication, activity logging & information-leakage prevention), IT integration (clout computing, mobile management & security), real time video telecasting system (supporting mobile devices at multiple locations, others (--100%)
Clients: [Mfrs, wholesalers] Leo Palace 21, NEC, Toshiba Tech, PFU, Daiwabo Information System, Fuji Xerox, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsumi Electric, Netone Partners, Excitor A/S, Care Line System, Portwell Japan Inc, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (Shinjuku)
Resona Bank (Shinjuku)
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 |
|
11,600 |
10,777 |
10,443 |
10,033 |
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Recur.
Profit |
|
1,000 |
982 |
468 |
|
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Net
Profit |
|
500 |
454 |
271 |
21 |
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Total
Assets |
|
|
8,924 |
8,236 |
7,531 |
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Current
Assets |
|
|
6,563 |
5,774 |
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Current
Liabs |
|
|
4,021 |
3,639 |
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Net
Worth |
|
|
4,125 |
3,788 |
3,656 |
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Capital,
Paid-Up |
|
|
1,326 |
1,326 |
1,326 |
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Div.Ttl
in Million (¥) |
|
|
123 |
123 |
123 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.64 |
3.20 |
4.09 |
-14.12 |
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Current Ratio |
|
.. |
163.22 |
158.67 |
.. |
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N.Worth Ratio |
.. |
46.22 |
45.99 |
48.55 |
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R.Profit/Sales |
|
8.62 |
9.11 |
4.48 |
.. |
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N.Profit/Sales |
4.31 |
4.21 |
2.60 |
0.21 |
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Return On Equity |
.. |
11.01 |
7.15 |
0.57 |
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Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
|
<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.