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Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
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Name : |
PRINCETON TECHNOLOGY LTD |
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Registered Office : |
K.A.I. Bldg 3F, 3-9-5 Iwamotocho Chiyodaku Tokyo 101-0032 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
March, 1995 |
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Com. Reg. No.: |
0100-01-028443 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of PC peripherals |
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No. of Employees : |
128 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 |
PRINCETON
TECHNOLOGY LTD
REGD NAME: Princeton Technology
KK
MAIN OFFICE: K.A.I. Bldg 3F, 3-9-5
Iwamotocho Chiyodaku Tokyo 101-0032 JAPAN
Tel:
03-3863-7131
Fax: 03-3863-3451
URL: http://www.princeton.co.jp/
E-Mail address: (thru the URL)
Import, wholesale of PC peripherals
Osaka, Fukuoka
TOSHIYA NAKAIDE, PRES Takanori
Asaishi, dir
Noriyuki Usami dir Manabu
Kusano, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 5,514 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 181 M
TREND SLOW WORTH Yen 469 M
STARTED 1995 EMPLOYES 128
IMPORTER OF PC PHERIPHERALS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Joji Ikeda 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 PC & peripherals. Goods
are imported from USA, Taiwan, other, as import agent. As round of restructuring, the firm closed in
Dec 2009 its Nagoya, Sendai & Sapporo branch offices, including executives
reshuffle and staff cuts from 167 to 135 (now 128). Toshiya Nakaide took the pres office in Nov
2009. Clients include major electronics
mfrs, wholesalers, other, nationwide.
The sales volume for Feb/2013 fiscal term amounted to Yen 5,514 million,
a slight up from Yen 5,477 million in the previous term. The recurring profit was posted at Yen 25
million and the net profit at Yen 2 million, respectively, compared with Yen 82
million recurring profit and Yen 25 million net profit, respectively, a year
ago.
For the term that ended Feb 2014 the recurring profit was projected at
Yen 30 million and the net profit at Yen 25 million, respectively, on a 3% rise
in turnover, to Yen 5,700 million. Final
results are yet to be released. .
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar 1995
Regd No.: 0100-01-028443
(Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 6,400 million shares
Issued: 1,600 shares
Sum: Yen 181 million
Major shareholders (%): Toshiya Nakaide (25), Manabu Kusano (25),
Noriyuki Usami (25), Takanori Asaishi (25)
No. of shareholders: 4
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and wholesales PC & peripherals: Raid storage
subsystem, memory module, media card, card reader/writer, USB flash memory, LCD
& accessories, tablet, drive disk, drive storage, A/V accessories, PC
converters, KVM switches, LAN cable, switching HUB, USB security key, Bluetooth
adaptor, iPod-iPhone series (speaker, battery bag, remote controllers, transmitter,
touch pen/stand, media card), digital conference systems, other related
products (--100%).
Import agent for: Kingston Technology, Polycom, ATE (Taiwan), Proware
Technology, ATEN International Co, AudiSoft Technologies, Vidyo Inc
Clients: [Electronics mfrs, wholesalers] SoftBank BB, Ricoh Co, Daiwabo
Information System, Yodobashi Camera, Bic Camera, Canon System & Support,
NEC Nexsolutions, NTT Communications Corp, Otsuka Corp, KDD Corp, Hirose Radio
& Electric Co, Fujitsu Marketing Ltd, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kingston Technology, ATE, Polycom Asia,
Proware Technology, Chi Mei 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:
Mizuho Bank
(Kudan)
MUFG
(Kanda-Ekimae)
Relations:
Satisfactory
|
Terms Ending: |
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
|
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Annual Sales |
|
5,700 |
5,514 |
5,477 |
6,485 |
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Recur. Profit |
|
30 |
25 |
82 |
74 |
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Net Profit |
|
25 |
2 |
25 |
56 |
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Total Assets |
|
|
2,544 |
2,641 |
2,807 |
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Current Assets |
|
|
2,304 |
2,382 |
2,474 |
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Current Liabs |
|
|
1,917 |
1,935 |
2,150 |
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Net Worth |
|
|
469 |
467 |
402 |
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Capital, Paid-Up |
|
|
181 |
181 |
181 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.37 |
0.68 |
-15.54 |
-15.03 |
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Current Ratio |
|
.. |
120.19 |
123.10 |
115.07 |
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N.Worth Ratio |
.. |
18.44 |
17.68 |
14.32 |
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R.Profit/Sales |
|
0.53 |
0.45 |
1.50 |
1.14 |
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N.Profit/Sales |
0.44 |
0.04 |
0.46 |
0.86 |
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Return On Equity |
.. |
0.43 |
5.35 |
13.93 |
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Notes: Forecast (or estimated) figures for the 29/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
|
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 |
-- |
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.