|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
OWLTECH CORPORATION |
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|
|
|
Registered Office : |
5-24-1 Nakashinden Ebina Kanagawa-Pref 243-0422 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1992 |
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Com. Reg. No.: |
026741 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing, import, export, wholesale of PC’s & peripherals |
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No. of Employees : |
42 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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 – 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 |
OWLTECH
CORPORATION
REGD NAME: KK
Owltech Corporation
MAIN OFFICE: 5-24-1
Nakashinden Ebina Kanagawa-Pref 243-0422 JAPAN
Tel:
046-236-3520 Fax: 046-236-3521
E-Mail address: (thru the URL)
Mfg, import, export,
wholesale of PC’s & peripherals
Ebina (Kanagawa)
At the caption
address
HARUO SHOJI, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,961 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 50 M
TREND UP WORTH Yen 868 M
STARTED 1992 EMPLOYES 42
MFR OF PC & PERIPHERALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Tomohiko Toonishi in order to
make most of his experience in the subject line of business. This is a trading firm, with mfg division,
for import, export and wholesale of PC’s & peripherals. The firm belongs to no group and with no
subsidiaries. This is, however, a major
agent dealership of Mitsumi Electric Co Ltd (see REGISTRATION), but no capital tie-ups. Clients include electronics makers,
wholesalers, other, nationwide.
Financial are only partially disclosed.
Total assets & net worth rate were disclosed for the first time for
the Mar/2014 fiscal term.
The sales volume for Mar/2014 fiscal term amounted to Yen 1,961 million,
an 11% up from Yen 1,162 million in the previous term. This is attributed to the weaker Yen, with
revenues for imports & exports up in Yen terms. The net profit was posted at Yen 146 million,
compared with Yen 67.0 million a year ago.
For the current term ending Mar/2015 the net profit is projected at Yen
160 million, on a 7% rise in turnover, to Yen 2,100 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr
1992
Regd No.:
(Kanagawa-Ebina) 026741
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4,000 shares
Issued: 1,000 shares
Sum: Yen 50 million
Major
shareholders (%): Tomohiko Toonishi (65), Haruo Shoji (35)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
*.. Mitsumi
Electric Co Ltd, a leading comprehensive electronic parts mfr with
mechanical parts & computer peripheral equipment as mainline, Tokyo,
founded 1949, listed Tokyo S/E, capital Yen 39,890 million, sales Yen 157,360
million, operating profit Yen 629 million, recurring profit Yen 2,612 million,
net profit Yen 3,228 million, total assets Yen 139,769 million, net worth Yen
100,903 million, employees 36,417, pres Shigeru Moribe
Activities: Imports,
exports, manufactures and wholesales PC’s & peripherals (--100%).
(PC
peripherals): PC case, drive case, mobile rack, power supply unit, card reader writer,
mobile phones, keyboard, case fan, CPU cooler, video games, cables, cartridges,
earphones, other.
Clients: [Mfrs,
wholesalers] Mitsumi Electric Co, Yamada Denki Co, Yodobashi Camera, Bic
Camera, Sofmap Co, Daiwabo Information System, PC Depot Corp, Amazon.com. Inc,
K’s Denki Corp, SoftBank BB, Edion Corp, Goodwill Co, Third Wave Corp, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsumi Electric Co, Sanyo Electric Co, Toshiba Corp, Sea Sonic
Electronics, Chenbro Micom, Chieftech Industrial, Delta Electronics, FSP,
Lian-Li Industry, LG Electronics Japan, TEAC Corp, other
Payment record: No complaints
Location: Business area in
Ebina, Kanagawa-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank
References:
Bank of Yokohama
(Atsugi)
Mizuho Bank (Atsugi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
Annual
Sales |
|
2,100 |
1,961 |
1,762 |
1,870 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
160 |
146 |
67 |
74 |
|
Total
Assets |
|
|
3,040 |
N/A |
N/A |
|
Net
Worth |
|
|
868 |
722 |
655 |
|
Capital,
Paid-Up |
|
|
50 |
50 |
50 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
7.09 |
11.29 |
-5.78 |
19.87 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
28.55 |
.. |
.. |
|
N.Profit/Sales |
|
7.62 |
7.45 |
3.80 |
3.96 |
Notes: Financials are only partially disclosed. Total assets & net worth rate were disclosed for the first time for
the 31/03/2014 fiscal term.
Forecast (or
estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.31 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.