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Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
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Name : |
COMTECS CO LTD |
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Registered Office : |
Ozawa Nishigotanda Bldg 8F, 8-1-10 Nishigotanda Shinagawaku Tokyo 141-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
May 1983 |
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Com. Reg. No.: |
0107-01-003457
(Tokyo-Shinagawaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and wholesaler
of Electronics Components & Systems such as Raid Subsystem, Network
Cluster Storage, Touch Panel PC, Motherboard, PC’s, Switches, UPS & LCD
Monitor |
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No of Employees : |
08 |
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 – 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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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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 |
COMTECS CO LTD
KK Comtecs
Ozawa Nishigotanda
Bldg 8F, 8-1-10 Nishigotanda Shinagawaku Tokyo 141-0031, JAPAN
Tel:
03-5759-5111 Fax: 03-5759-5115
URL: http://www.comtecs.co.jp/
E-Mail address: sales@comtecs.co.jp
Importer and wholesaler
of Electronics Components & Systems such as Raid Subsystem, Network Cluster
Storage, Touch Panel PC, Motherboard, PC’s, Switches, UPS & LCD Monitor
Kyoto
(lab)
MAKOTO
MIYAISHI, PRES
Tomoaki
Asahi, dir
Yuji
Kishi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 489 M
PAYMENTS No
Complaints CAPITAL Yen 40 M
TREND UP WORTH Yen 174 M
STARTED 1983 EMPLOYES 8
IMPORTER & WHOLESALER SPECIALIZING IN SYSTEM DEVICE
& PC PERIPHERALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Makoto Miyaishi in order to make most of his experience in the subject line of business. This is a trading firm for import and wholesale of electronics components & systems: system devices, PC’s, PC peripherals, other. Goods are mostly imported from Taiwan & USA, as agent. Clients include electronics mfrs, wholesalers, other, nationwide.
The sales volume for May/2013 fiscal term amounted to Yen 489 million, an 8% up from Yen 454 million in the previous term. The net profit was posted at Yen 10 million, similarly in the previous term. Financials are only partially disclosed for this term.
For the current term ending May 2014 the net profit is projected at Yen 15 million, on a 5% rise in turnover, to Yen 510 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May
1983
Regd No.: 0107-01-003457 (Tokyo-Shinagawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 3,200 shares
Issued:
800 shares
Sum: Yen 40 million
Major shareholders (%): Makoto Miyaishi (70.7), Yuji
Kishi (25), Hiroyuki Yamamoto (2.5), Tomoaki Asahi (1), Yuko Miyaishi (0.8)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales electronics components & systems: Raid subsystem, network cluster storage, touch panel PC, motherboard, PC’s, switches, UPS, LCD monitor, other (--100%).
Clients: [Electronics mfrs, wholesalers] Teraoka Seiko Co, Mars Engineering, Nihon Kohden Corp, Amano Corp, Fukuda Electronics, Mitsubishi Electric, Nippon Computing System, CTC AB, Advantest, Graphtec Corp, Digi I’s Corp, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Skynet Electronics, AAEON Technology, ARBOR Technology, Chi Mei Optoelectronics, Proware Technology, Bearmtech Electronics (--Taiwan), Takram USA, Panasas Inc (--USA), INTAS (Korea), other.
Domestically supplied from: Oki Semiconductors, Omni Vision Technologies, Nicom Technology, Asahi Kasei Microsystems, Advantec Co, other.
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Tokyo City Shinkin Bank (H/O)
Bank
of Yokohama (Gotanda-Ekimae)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
|
|
Annual
Sales |
|
489 |
454 |
492 |
671 |
|
Recur.
Profit |
|
|
10 |
-27 |
-18 |
|
Net
Profit |
|
10 |
10 |
-28 |
-37 |
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Total
Assets |
|
|
692 |
760 |
765 |
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Current
Assets |
|
|
630 |
696 |
699 |
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Current
Liabs |
|
|
100 |
153 |
127 |
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Net
Worth |
|
|
164 |
154 |
184 |
|
Capital,
Paid-Up |
|
|
40 |
40 |
40 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
7.71 |
-7.72 |
-26.68 |
-17.87 |
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Current Ratio |
|
.. |
630.00 |
454.90 |
550.39 |
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N.Worth Ratio |
.. |
23.70 |
20.26 |
24.05 |
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R.Profit/Sales |
|
.. |
2.20 |
-5.49 |
-2.68 |
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N.Profit/Sales |
2.04 |
2.20 |
-5.69 |
-5.51 |
|
|
Return On Equity |
.. |
6.10 |
-18.18 |
-20.11 |
|
Notes: Actually disclosed figures for the 31/05/2013 fiscal
term, although only partially disclosed.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
UK Pound |
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
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 |
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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.