|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
INFORMATIX INC |
|
|
|
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Registered Office : |
Muzakawasaki Central Tower 27F, 1310
Omiyacho Saiwaiku Kawasaki Kanagawa-Pref 212-0014 |
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|
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Country : |
Japan |
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|
Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
September 1981 |
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Legal Form : |
Limited Company |
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Line of Business : |
Computer software development,
software packages, system maintenance, information services, data bank
operations, others related (--100%) |
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|
|
|
No. of Employees |
173 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 67.9 million |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
INFORMATIX INC
REGD NAME: KK
Informatix
MAIN OFFICE: Muzakawasaki
Central Tower 27F, 1310 Omiyacho Saiwaiku Kawasaki
Kanagawa-Pref
212-0014JAPAN
Tel:
044-520-0850 Fax: 044-520-0845
URL: http://www.informatix.co.jp
E-Mail
address: info@informatix.co.jp
Develops
software, software packages, system maintenance
Osaka,
Nagoya
SHOICHI
MIHARA, PRES Masanori Nagashima,
ch
Adam
Gawne-Cain, v pres Koji Nozaki,
dir
Hideyuki
Imagawa, dir Koji Okazaki,
dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 4,230 M
PAYMENTSNo
complaints CAPITAL Yen 35 M
TREND SLOW WORTH Yen 882 M
STARTED 1981 EMPLOYES 173
PC SOFTWARE DEVELOPER.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
Max credit limit is estimated at
Yen 67.9 million
The subject
company was established by Shoichi Mihara, originally as ARC Yamagawa Co Ltd,
and in 1992 renamed as captioned. This
is a PC software developer: software packages, system maintenance, information
services, data bank operation, other.
Clients include communication companies, electronic makers, other,
nationwide.
The sales
volume for Jun/2013 fiscal term amounted to Yen 4,230 million, a 2% down from
Yen 3,290 million in the previous term.
The recurring profit was posted at Yen 190 million and the net profit at
Yen 96 million, respectively, compared with Yen 178 million recurring profit
and Yen 57 million net profit, respectively, a year ago.
For the
current term ending Jun 2014 the recurring profit is projected at Yen 200
million and the net profit at Yen 100 million, respectively, on a 4% rise in
turnover, to Yen 3,350 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 67.9
million, on the normal 30 days terms.
Date Registered: Sept 1981
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
284,200 shares
Issued:
71,050 shares
Sum: Yen 35.525 million
Major shareholders (%): Shoichi Mihara, Masanori
Nagashima, other (Breakdown not disclosed)
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Computer software development,
software packages, system maintenance, information services, data bank
operations, others related (--100%)
Clients: [Mfrs, wholesalers] NEC group firms, Hitachi
Ltd group firms, Toshiba Corp group firms, NTT group firms, Sekisui Chemical
Ind, Kokusai Kogyo Co, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Seiko-Epson,
Toshiba Corp group firms, Kokusai Kogyo Co, Cannon Marketing, Otsuka Corp,
Zenrin Co, Systena Corp, IBM Japan, other
Payment record: No
complaints
Location:
Business area in Kawasaki. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Shinagawa-Ekimae)
SMBC
(Shimbashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2014 |
30/06/2013 |
30/06/2012 |
30/06/2011 |
|
|
Annual
Sales |
|
3,350 |
3,230 |
3,290 |
837 |
|
Recur.
Profit |
|
200 |
190 |
178 |
|
|
Net
Profit |
|
100 |
96 |
57 |
10 |
|
Total
Assets |
|
|
2,538 |
2,686 |
2,717 |
|
Current
Assets |
|
|
1,729 |
1,824 |
1,840 |
|
Current
Liabs |
|
|
1,110 |
1,182 |
1,070 |
|
Net
Worth |
|
|
882 |
801 |
747 |
|
Capital,
Paid-Up |
|
|
35 |
35 |
35 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.72 |
-1.82 |
293.07 |
-23.67 |
|
|
Current Ratio |
|
.. |
155.77 |
154.31 |
171.96 |
|
N.Worth Ratio |
.. |
34.75 |
29.82 |
27.49 |
|
|
R.Profit/Sales |
|
5.97 |
5.88 |
5.41 |
.. |
|
N.Profit/Sales |
2.99 |
2.97 |
1.73 |
1.19 |
|
|
Return On Equity |
.. |
10.88 |
7.12 |
1.34 |
|
Notes:
The 30/06/2011 fiscal term is only 4 months, and he growth rate is adjusted on
a 12-month
basis.
Forecast
(or estimated) figures for the 30/06/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.99 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.