|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SI SOLAR CO LTD |
|
|
|
|
Registered Office : |
No.2 Koura Bldg 4F, 1-1-8
Nihombashi-Kayabacho Chuoku Tokyo 103-0025 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.08.2014 |
|
|
|
|
Date of Incorporation : |
August 2012 |
|
|
|
|
Com. Reg. No.: |
0100-01-148739 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of solar systems |
|
|
|
|
No. of Employees |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 |
SI SOLAR CO LTD
REGD NAME: KK
SI Solar
MAIN OFFICE: No.2
Koura Bldg 4F, 1-1-8 Nihombashi-Kayabacho Chuoku Tokyo 103-0025
JAPAN
Tel: 03-5642-3733
URL: http://www.sisolar.jp
E-Mail
address: (thru the URL)
Wholesale
of solar systems
Okayama
HIROAKI
ISHIHARA, PRES
Takeshi
Yoda, ch
Ryuichiro
Yao, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,884 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND UP WORTH Yen 394 M
STARTED 2012 EMPLOYES 20
TRADING FIRM SPECIALIZING IN SOLAR SYSTEMS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established on the basis of a division separated from Ishin
Holdings Inc, housing franchiser, Okayama (See REGISTRATION). Hiroaki
Ishihara is concurrently pres at the parent.
This is a trading firm specializing in solar systems. Goods are traded well thru the parent
channels.
The sales
volume for the initial accounting term ended Aug/2013 fiscal term amounted to
Yen 3,884 million, with recurring profit posted at Yen 615 million and the net
profit at Yen 344 million. Sales fared
well thru the parent to housing makers, individual houses, etc.
For the
current term ending Aug 2014 the recurring profit is projected at Yen 630 million
and the net profit at Yen 360 million, respectively, on a 6% rise in turnover,
to Yen 4,100 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Aug 2012
Regd No.: 0100-01-148739 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
4,000 shares
Issued:
1,000 shares
Sum: Yen 50 million
Major shareholders (%): Ishin Holdings Inc* (70),
Takeshi Yoda (30)
No. of shareholders: 2
*.. Ishin Holdings Inc, housing
franchiser, Okayama, founded 1990, capital Yen 99,000 million, sales Yen 2,847
million, net profit Yen 252 million, employees 20, pres Hiroaki Ishihara,
concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales solar systems,
attachments, other (--100%)
Clients: [Mfrs, wholesalers] Ishin Holdings
Inc, World Brains, other
No. of
accounts: 5 (Direct clients)
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] AU Optronics, SMA,
Sun Power, World Brains, other,
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Chugoku
Bank (Tsuyama-Kita)
MUFG
(Okayama)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/08/2014 |
31/08/2013 |
|
|
Annual
Sales |
|
4,100 |
3,884 |
|
Recur.
Profit |
|
630 |
615 |
|
Net
Profit |
|
360 |
344 |
|
Total
Assets |
|
|
1,481 |
|
Current
Assets |
|
|
1,474 |
|
Current
Liabs |
|
|
992 |
|
Net
Worth |
|
|
394 |
|
Capital,
Paid-Up |
|
|
50 |
|
Div.P.Share(¥) |
|
|
0.00 |
|
<Analytical Data> |
(%) |
(%) |
|
|
S.Growth Rate |
5.56 |
- - - |
|
|
Current Ratio |
|
.. |
148.59 |
|
N.Worth Ratio |
.. |
26.60 |
|
|
R.Profit/Sales |
|
15.37 |
15.83 |
|
N.Profit/Sales |
8.78 |
8.86 |
|
|
Return On Equity |
.. |
87.31 |
|
Notes:
The 31/08/2013 term is the initial accounting term from the inception.
Forecast
(or estimated) figures for the 31/08/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.87 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
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.