MIRA INFORM REPORT
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Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
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Name : |
CCS INC |
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Registered Office : |
374 Okakuencho Shimotachiuri-Agaru Karasuma-dori Kamigyoku Kyoto 602-8011 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2014 |
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Date of Incorporation : |
October 1993 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of LED lighting equipment |
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No. of Employees : |
205 |
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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Maximum Credit Limits : |
Yen 93.8 Million |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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.
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Source
: CIA |
Company
name and address
CCS INC
REGD NAME: CCS
KK
MAIN OFFICE: 374
Okakuencho Shimotachiuri-Agaru Karasuma-dori Kamigyoku Kyoto
602-8011 JAPAN
Tel: 075-415-8280 Fax:
075-415-8281 -
URL: http://www.ccs-inc.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of LED
lighting equipment
BRANCHES
Tokyo, Nagoya,
Sendai, Kyoto, other (Tot 6)
OVERSEAS
USA, Belgium,
China, Taiwan, Thailand, Singapore
FACTORIES
Kyoto (Shimogyoku)
CHIEF
EXEC
YOSHIRO KAGAMI,
PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 5,509 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 462 M
TREND UP WORTH Yen 3,131 M
STARTED 1993 EMPLOYES 205
COMMENT
MFR OF LED LIGHTING EQUIPMENT
FINANCIAL SITUATION COSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 93.8 MILLION, 30 DAYS
NORMAL TERMS
Unit: In Million Yen
Forecast
figures for the 31/07/2015 fiscal term.
HIGHLIGHTS
This is a specialized mfg of LED lighting equipment. Top-ranked maker of LEDs for image processing
equipment used by manufacturing industry in production lines. Nurturing new lines such as natural light LED
for industrial use.
FINANCIAL
INFORMATION
The sales volume for July/2014 fiscal term amounted to Yen 5,509
million, a 13.4% up from Yen 4,860 million in the previous term. The recurring profit was posted at Yen 491
million and the net profit at Yen 398 million, respectively, compared with Yen
352 million recurring profit and Yen 453 million net profit, respectively, a
year ago.
For the current term ending Jul 2015 the recurring profit is projected
at Yen 600 million and the net profit at Yen 440 million, respectively, on a
16% rise in turnover, to Yen 6,400 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is
estimated at Yen 93.8 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Oct 1993
Legal Status: Limited Company (Kabushiki Kaisha
Authorized:
85,108 million shares
Issued: 25,793 shares
Sum: Yen 462 million
Major
shareholders (%): Peace Villa (11.6), Happy Coast (7.0), Sun Chlorella (6.4), Mitsubishi
Chemical (6.1), Sun Chlorella Sales (2.7), Japan Trustee Services T (2.5),
Kenji Yoneda (2.2), Masamichi Moi (2.0), Trust & Custody Services Inv T
(1.7), Japan Services Finance (1.6); foreign owners (24.0)
No.
of shareholders: 2,760
Listed on the S/Exchange (s) of: JASDAQ
Managements: Yoshiro Kagami,
pres; Shinji Matsumuro, s/mgn dir; Mitsuo Nakagawa, dir; Yasushi Sakemi, dir;
Akira Iwamoto, dir; Yotaro Tokuo, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies: CCS America Inc, other.
OPERATION
Activities: Manufactures LED
lighting equipment, attachment, other (--100%)
Overseas
Sales Ratio (35%)
Clients: [Mfrs, wholesalers]
Daito Electron, CCS Europe, VISCO Technologies, CCS America Inc, Fukunishi
Electrical Co, other
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nichia Corp, Tokyo
Parts Center, Kyosemi Corp, Takion Electronics,
Kubomura Seisakusho, other
Payment record: No complaints
Location: Business area in
Kyoto. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Kyoto-Chuo)
Bank of Kyoto (H/O)
Relations: Satisfactory
FINANCES
(In Million
Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/07/2014 |
31/07/2013 |
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INCOME STATEMENT |
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Annual Sales |
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5,509 |
4,860 |
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Cost of Sales |
2,179 |
1,934 |
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GROSS PROFIT |
3,330 |
2,925 |
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Selling & Adm Costs |
2,769 |
2,515 |
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OPERATING PROFIT |
561 |
409 |
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Non-Operating P/L |
-70 |
-57 |
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RECURRING PROFIT |
491 |
352 |
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NET PROFIT |
398 |
453 |
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BALANCE SHEET |
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Cash |
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1,820 |
2,043 |
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Receivables |
1,602 |
1,200 |
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Inventory |
964 |
969 |
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Securities, Marketable |
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Other Current Assets |
129 |
138 |
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TOTAL CURRENT ASSETS |
4,515 |
4,350 |
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Property & Equipment |
1,034 |
996 |
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Intangibles |
137 |
57 |
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Investments, Other Fixed Assets |
372 |
325 |
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TOTAL ASSETS |
6,058 |
5,728 |
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Payables |
350 |
161 |
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Short-Term Bank Loans |
890 |
850 |
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Other Current Liabs |
785 |
902 |
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TOTAL CURRENT LIABS |
2,025 |
1,913 |
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Debentures |
200 |
102 |
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Long-Term Bank Loans |
542 |
892 |
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Reserve for Retirement Allw |
73 |
59 |
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Other Debts |
|
87 |
17 |
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TOTAL LIABILITIES |
2,927 |
2,983 |
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MINORITY INTERESTS |
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Common
stock |
462 |
462 |
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Additional
paid-in capital |
1,460 |
1,460 |
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Retained
earnings |
1,190 |
845 |
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Evaluation
p/l on investments/securities |
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Others |
19 |
(23) |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
3,131 |
2,744 |
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TOTAL EQUITIES |
6,058 |
5,728 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/07/2014 |
31/07/2013 |
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Cash
Flows from Operating Activities |
|
305 |
983 |
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Cash
Flows from Investment Activities |
-214 |
87 |
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Cash Flows
from Financing Activities |
-345 |
-328 |
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Cash,
Bank Deposits at the Term End |
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1,775 |
2,000 |
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ANALYTICAL RATIOS Terms ending: |
31/07/2014 |
31/07/2013 |
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Net
Worth (S/Holders' Equity) |
3,131 |
2,744 |
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Current
Ratio (%) |
222.96 |
227.39 |
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Net
Worth Ratio (%) |
51.68 |
47.91 |
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Recurring
Profit Ratio (%) |
8.91 |
7.24 |
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Net
Profit Ratio (%) |
7.22 |
9.32 |
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Return
On Equity (%) |
12.71 |
16.51 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.24 |
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|
1 |
Rs.98.68 |
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Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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Report Prepared
by : |
NIS |
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 |
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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.