|
Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
DENSAN
CORPORATION |
|
|
|
|
Registered Office : |
Bunseido Bldg 4F, 2-50 Aioicho Nakaku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.04.2014 |
|
|
|
|
Date of Incorporation : |
May 1976 |
|
|
|
|
Com. Reg. No.: |
0200-01-027718 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import,
wholesale of electric components & parts |
|
|
|
|
No. of Employees : |
7 |
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 : |
Slow but correct |
|
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 |
DENSAN CORPORATION
REGD NAME: Densan
Shoji KK
MAIN OFFICE: Bunseido
Bldg 4F, 2-50 Aioicho Nakaku
Tel:
045-662-8189 Fax: 045-662-8188
E-Mail
address: Densan@densan.co.jp
Import,
wholesale of electric components & parts
Osaka
Taiwan,
China (5) (--mfg partners)
TOSHIO
MAKINO, PRES
Takayuki
Higuchi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 450 M
PAYMENTSSlow
But Correct CAPITAL Yen 10 M
TREND UP WORTH Yen 225 M
STARTED 1976 EMPLOYES 7
TRADING FIRM SPECIALIZING IN ELECTRIC PARTS &
COMPONENTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by father of Nobiru Yoshimizu in order to make most of
his experience in the subject line of business, and was succeeded by the
present executives. Toshio Makino took
the pres office in Aug 2013. This is a
trading firm for import of electric parts & components, solar
energy-related materials, nursing-care robots, other (See OPERATION). Goods are
imported from partnership makers in China and Taiwan. Clients include major electronic makers,
wholesalers, other. Panasonic Group
became one of the clients in 2012.
Financials
are only partially disclosed.
The sales volume for Apr/2014
fiscal term amounted to Yen 450 million, a 7% up from Yen 420 million in the
previous term. Demand from Panasonic
Corp was robust. Imports increased from
China & Taiwan. The net profit was posted
at Yen 3 million, compared with Yen 16 million a year ago.
For the
current term ending Apr 2015 the net profit is projected at Yen 5 million, on a
4% rise in turnover, to Yen 470 million.
Business is seen expanding steadily.
Sales of solar energy-related materials will increase.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements.
Date Registered: May 1976
Regd No.: 0200-01-027718 (Yokohama-Nakaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued:
20,000 shares
Sum: Yen 10 million
Major shareholders (%): Toshio Makino (80)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales power supply,
batteries, solar energy-related materials, nursing-care robots, others
(--100%).
(Handling Items):
Power Supplies: AC/DC adapters, DC/DC connecters,
battery chargers, power supply for LED;
Batteries: nickel metal-hydride batteries,
lithium-ion batteries, other;
Solar Energy-related materials: silicon, ingot (P&N types),
solar grade ingot, silicon wafers, other.
Clients: [Mfrs, wholesalers] Panasonic Corp,
Panasonic Mobile Communications, Kaga Electronics Co, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sarom Electronics,
Hon Kwang Electronics, other.
Imports from Taiwan, China,
other
Payment record: slow
but correct
Location:
Business area in Yokohama. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Yokohama-Chuo)
Resona
Bank (Yokohama)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/04/2015 |
30/04/2014 |
30/04/2013 |
30/04/2012 |
|
Annual
Sales |
|
470 |
450 |
420 |
330 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
5 |
3 |
16 |
0 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
225 |
223 |
212 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.44 |
7.14 |
27.27 |
15.79 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
1.06 |
0.67 |
3.81 |
0.00 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/04/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.