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Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MAP ELECTRONICS CO LTD |
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Registered Office : |
116-14 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
Jun 1999 |
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Com. Reg. No.: |
1000-01-010502 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of electronics components, telecommunication
equipment |
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No. of Employees : |
22 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
MAP ELECTRONICS CO LTD
REGD NAME: KK
Mappu Erekutoronikusu
MAIN OFFICE: 116-14
Kosato Ueda City Nagano-Pref 386-0005
Tel:
0268-28-7576 Fax: 0267-28-7577
URL: http://www.mapele.co.jp/
E-mail: sales@mapele.co.jp
Import, wholesale
of electronics components, telecommunication equipment
Tokyo (Minatoku
& Hachioji)
Taiwan (2)
YOSHIO YAMAZAKI,
PRES
Hiroaki Yamazaki,
dir
Toshiko Yamazaki,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 828 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 172 M
STARTED 1999 EMPLOYES 22
TRADING FIRM
SPECIALIZING IN ELECTRONICS COMPONENTS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Yoshio Yamazaki in order to make
most of his experience in the subject line of business. This is a family-based trading firm, owned
and operated by the Yamazaki family, for import and wholesale of electronics
components & telecommunication equipment: AC adaptors/power supply,
LCD/OLED modules, LCP panels, RF convertors, semiconductors, other (See OPERATIONS). Has two offices in Taiwan. Goods are imported from Taiwan, USA, other.
The sales volume for Mar/2014 fiscal term amounted to Yen 828 million, a
33% up from Yen 621 million in the previous term. Sales of security-related products fared
well. Demand from NEC Corp was
robust. Imports from JM Inc (Taiwan)
increased. The recurring profit was
posted at Yen 23 million and the net profit at Yen 17 million, respectively,
compared with Yen 11 million recurring profit and Yen 5 million net profit,
respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 40 million and the net profit at Yen 20 million, respectively, on a 4%
rise in turnover, to Yen 860 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun
1999
Regd No.:
1000-01-010502 (Nagano-Ueda)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Yoshio Yamazaki
(100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales electronics components, telecommunication equipment, others (-100%).
(Handling
Items):
AC
Adaptors/Power Supply (complying with CEC LEVEL V): C Switching
adaptor, open frame power, medical-use adaptors;
LCD/OLED
Modules: graphic, color STN, color TFT, TAB, COG, E-paper, organic EL display,
organic EL modules, custom-made components;
LCD
Panel: standard LCD panels, custom-made panels;
Telecommunication
Antennas;
RF
Connectors: SMA, SMB, BNC. TMC, LHF, FME, SMP;
Semiconductors:
LED,
other
Clients: [Electronics
mfrs, wholesalers] NEC Computer Techno, NEC Access Technica, NEC Embedded
Products Ltd, NEC Platforms, Circuit Design, Sato Holdings Corp, Hochiki Corp,
Nikon Corp, Panasonic Corp, Mitsubishi Cable Ind, Tateyama Kagaku Kogyo, other.
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers [Mfrs,
wholesalers] JM Corp, Siward Crystal Technology, Sino American Electronics,
Solomon Goldentec Display, ENG Electronics, Winstar Display, Angel Electric,
Sinpro Electronics, Solomon, Winstar, other
Payment record: No complaints
Location: Business area in
Ueda City, Nagano-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Hachijuni Bank
(Ueda)
MUFG
(Shinjuku-Chuo)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual
Sales |
|
860 |
828 |
621 |
715 |
|
Recur.
Profit |
|
40 |
33 |
11 |
30 |
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Net
Profit |
|
20 |
17 |
5 |
20 |
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Total
Assets |
|
|
405 |
267 |
293 |
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Current
Assets |
|
|
304 |
193 |
97 |
|
Current
Liabs |
|
|
127 |
76 |
70 |
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Net
Worth |
|
|
172 |
154 |
149 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.86 |
33.33 |
-13.15 |
1.13 |
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Current Ratio |
|
.. |
239.37 |
253.95 |
138.57 |
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N.Worth Ratio |
|
.. |
42.47 |
57.68 |
50.85 |
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R.Profit/Sales |
|
4.65 |
3.99 |
1.77 |
4.20 |
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N.Profit/Sales |
|
2.33 |
2.05 |
0.81 |
2.80 |
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Return On Equity |
|
.. |
9.88 |
3.25 |
13.42 |
Notes: Forecast (or
estimated) figures for the 31/03/2015 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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|
Report Prepared
by : |
NIS |
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 |
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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 |
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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 |
-- |
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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.