MIRA INFORM REPORT

 

 

Report Date :

04.09.2014

 

IDENTIFICATION DETAILS

 

Name :

NCR JAAN LTD

 

 

Registered Office :

Kayabacho Tower, 1-21-2 Shinkawa Chuoku Tokyo 104-0033

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

February, 1920

 

 

Com. Reg. No.:

0100-01-108644 (Tokyo-Chuoku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, export, wholesale of electronic computers, office computers, other

 

 

No. of Employees

650

 

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

 

Maximum Credit Limit:

Yen 1,497.7 million

Status :

Satisfactory

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

 

 

 

Company name and address

 

NCR JAAN LTD

REGD NAME:    Nihon NCR KK

MAIN OFFICE:  Kayabacho Tower, 1-21-2 Shinkawa Chuoku Tokyo 104-0033 JAPAN

                        Tel: 03-6759-6000     

 

URL:                 http://www.ncr.co.jp

E-Mail address: (thru the URL)

 

 

ACTIVITIES  

 

Import, export, wholesale of electronic computers, office computers, other

 

 

BRANCHES   

 

120 branch offices/agent dealers, nationwide

 

 

OVERSEAS

 

USA (the parent, NCR Corporation)

 

 

OFFICERS

 

TOSHIO MOROHOSHI, PRES

Masahiro Ogushi, v pres

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 24,895 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 11,000 M

TREND             STEADY                       WORTH            Yen 60,775 M   

STARTED         1920                             EMPLOYES      650

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN INFORMATION SYSTEMS, OTHER, OWNED BY NCR CORP, USA.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY

BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: ESTIMATED AT YEN 1,497.7 MILLION, ON 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

           

The subject company was established by NCR Corp, USA as its marketing office in Japan.  This is a trading firm specializing in import, export and wholesale of information processing system, electronic computers, ATM machines, other.  Goods are supplied from the US parent and group firms.  Clients include information processing firms, NTT data, government/municipal offices, financial institutions, nationwide

 

 

FINANCIAL INFORMATION

           

The sales volume for Dec/2013 fiscal term amounted to Yen 24,895 million, an almost similar turnover of Yen 24854 million in the previous term.  The recurring profit was posted at Yen 2,526 million and the net profit at Yen 2,228 million, respectively, compared with Yen 2,445 million recurring profit and Yen 11,678 million net profit, respectively, a year ago.

 

For the current term ending Dec 2014 the recurring profit is projected at Yen 2,700 million and the net profit at Yen 2,350 million, respectively, on a 5% rise in turnover, to Yen 26,100 million.  Business is seen expanding steadily.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 1,497.7 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:                      Feb 1920

Regd No.:                                             0100-01-108644 (Tokyo-Chuoku)

Legal Status:                           Limited Company (Kabushiki Kaisha)

Authorized:                              22 million shares

Issued:                                     22 million shares

Sum:                                        Yen 11,000 million

Major shareholders (%):           NCR Corporation, USA and group firms (100)

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Trading firm for import, export and wholesale of electronic data processing systems (EDPS), electronic computers, office computers, ATM machines, other attachments, others (--100%)

 

Clients: [Mfrs, wholesalers] NCR Business Solution Japan, NTM Japan, NTT Data, Cainz, other

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] NCR Corp (USA) and group firms, NCR Services Japan, Global Solution Service, other

 

Payment record: No Complaints

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactory.

 

Bank References:

SMBC (Ginza)

MUFG (Kyobashi)

Relations: Satisfactory

 

 

FINANCES

 

 (In Million Yen)

       Terms Ending:

31/12/2014

31/12/2013

31/12/2012

31/12/2011

Annual Sales

　

26,100

24,895

24,854

25,649

Recur. Profit

　

2,700

2,526

2,445

1,594

Net Profit

　

2,350

2,228

11,678

438

Total Assets

　

　

69,881

105,102

96,526

Current Assets

　

　

11,004

12,520

9,699

Current Liabs

　

　

5,707

6,312

9,098

Net Worth

　

　

60,775

94,866

83,102

Capital, Paid-Up

　

　

11,000

11,000

11,000

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

　

(%)

(%)

(%)

(%)

    S.Growth Rate

　

4.84

0.16

-3.10

-13.20

    Current Ratio

　

..

192.82

198.35

106.61

    N.Worth Ratio

　

..

86.97

90.26

86.09

    R.Profit/Sales

　

10.34

10.15

9.84

6.21

    N.Profit/Sales

　

9.00

8.95

46.99

1.71

    Return On Equity

　

..

3.67

12.31

0.53

 

Notes: Forecast (or estimated) figures for the 31/12/2014 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.54

UK Pound

1

Rs.99.73

Euro

1

Rs.79.54

                

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SDA

               

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.