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Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
GIGAPHOTON INC |
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Registered Office : |
400 Yokokura-Shinden Okaya Tochigi-Pref 323-0819 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April, 2011 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 070232 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Excimer Laser for Making
Semiconductor. |
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No. of Employees : |
507 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. 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 |
GIGAPHOTON INC
REGD NAME: Gigaphoton KK
MAIN OFFICE: 400
Yokokura-Shinden Okaya Tochigi-Pref 323-0819 JAPAN
Tel:
0285-28-8410 Fax: 0285-8439
*.. Registered at: 2-6-1 Ohtemachi Chiyodaku Tokyo
URL: http://www.gigaphoton.com
E-Mail address: (thru the URL)
Mfg of
excimer laser for making semiconductor
Hiratsuka,
Yokkaichi, Toyama, Hiroshima, Fukuoka
USA,
Korea, China (2), Taiwan (4), Singapore, and Netherlands
At the
caption address, Hiratsuka
HITOSHI
TOMIMARU, PRES Kei Mizoguchi, v pres
Hidekazu
Sato, dir Katsumi
Uranaka, dir
Hirokazu
Nakamura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 20,837 M
PAYMENTSREGULAR CAPITAL Yen 5,000 M
TREND STEADY WORTH Yen 12,853 M
STARTED 2000 EMPLOYES 507
MFR OF EXCIMER LASER, WHOLLY OWNED BY KOMATSU LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established as a JV of Komatsu Ltd (See REGISTRATION) and Ushio Inc in order to
integrate the excimer laser businesses of the two companies. This is a specialized mfr of excimer laser
for making semiconductors and ultra-violet light sources used for lithography
tools in semiconductor mfg. In Apr 2011,
Komatsu Ltd bought the 50% of the share owned by Ushio Inc and made it a wholly
owned consolidated subsidiary. Goods are
exported widely to China, Taiwan, Korea, Singapore, Europe, USA, other. Domestic clients include major electronics
mfrs.
Financial
are consolidated by the parent, Komatsu Ltd, and disclosed in digested form
only.
The
sales volume for Mar/2014 fiscal term amounted to Yen 20,837 million, a 7% down
from Yen 22,301 million in the previous term.
The recurring profit was posted at Yen 1,299 million and the net profit
at Yen 1,118 million, respectively, compared with Yen 1,034 million recurring
profit and Yen 715 million net profit, respectively, a year ago.
For
the current term ending Mar 2015 the recurring profit is projected at Yen 1,350
million and the net profit at Yen 1,200 million, respectively, on a 3% rise in
turnover, to Yen 21,500 million. .
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is estimated
at Yen 721.0 million, on 30 days normal terms.
Date Registered:
Apr 2011
Regd No.: (Tokyo-Chiyodaku) 070232
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
400,000 shares
Issued:
100,000 shares
Sum: Yen 5,000 million
Major shareholders (%):
Komatsu Ltd* (100)
*.. World’s second largest mfr of construction machinery, Tokyo,
founded 1921, listed
Tokyo S/E, capital Yen 67,870
million, sales Yen 1,953,657 million, operating profit Yen 240,495 million, recurring
profit Yen242,056 million, net profit Yen 159,518 million, total assets Yen
2,600,193 million, net worth Yen 1,374,019 million, employees 47,208, pres
Tetsuji hhashi
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures excimer laser &
extreme ultra-violet light sources used for lithography tools in semiconductor
manufacturing, other (--100%).
Clients: [Mfrs, wholesalers] ASML, Canon Inc,
Nikon Tec Corp, Nikon Corp, other
No. of
accounts: 300
Exports
to: China, Taiwan, Singapore, Korea, USA, Europe, other
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Meidensha Corp,
Ebara Corp, Omori Corp, Nagatsu Group, Fujikin Inc, other
Payment record: No
complaints
Location:
Business area in Okaya City, Tochigi-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
MUFG (Shin-Marunouchi)
SMBC (Tokyo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
21,500 |
20,837 |
22,301 |
20,245 |
|
Recur.
Profit |
|
1,350 |
1,299 |
1,034 |
4,138 |
|
Net
Profit |
|
1,200 |
1,118 |
715 |
2,400 |
|
Total
Assets |
|
|
20,907 |
19,630 |
18,807 |
|
Current
Assets |
|
|
16,533 |
15,060 |
15,600 |
|
Current
Liabs |
|
|
7,673 |
7,210 |
7,189 |
|
Net
Worth |
|
|
12,853 |
12,135 |
11,415 |
|
Capital,
Paid-Up |
|
|
5,000 |
5,000 |
5,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.18 |
-6.56 |
10.16 |
-0.87 |
|
Current Ratio |
|
.. |
215.47 |
208.88 |
217.00 |
|
N.Worth Ratio |
|
.. |
61.48 |
61.82 |
60.70 |
|
R.Profit/Sales |
|
6.28 |
6.23 |
4.64 |
20.44 |
|
N.Profit/Sales |
|
5.58 |
5.37 |
3.21 |
11.85 |
|
Return On Equity |
|
.. |
8.70 |
5.89 |
21.02 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
Report Prepared
by : |
NIT |
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 |
|
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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 |
|
|
-- |
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.