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Report No. : |
316168 |
|
Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
COMTECS CO LTD |
|
|
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Registered Office : |
Ozawa Nishigotanda Bldg 8F, 8-1-10 Nishigotanda Tokyo 141-0031 |
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Country : |
Japan |
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|
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Financials (as on) : |
31.05.2014 |
|
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Date of Incorporation : |
May 1983 |
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Com. Reg. No.: |
0107-01-003457 |
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Legal Form : |
Not Available |
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Line of Business : |
Import, wholesale of system devices, PC peripherals |
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No. of Employee : |
8 |
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 |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
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ENGLISH COMPANY NAME |
COMTECS CO LTD |
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|
Japanese company name |
KK Comtecs |
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Registered
Office |
|||||
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1. Street Number and District |
Ozawa Nishigotanda Bldg 8F, 8-1-10 Nishigotanda |
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2. City and Perefecture |
Tokyo |
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3. ZIP Code |
141-0031 |
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4. Country |
JAPAN |
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*.. Moved to the caption address in Oct 2010 from the former at: SDI
Gotanda Bldg, |
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7-13-6 Nishigotanda Shinagawaku Tokyo, as given |
|||||
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TEL |
03-5759-5111 |
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FAX |
03-5759-5115 |
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URL |
|||||
|
Email Address |
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|
Activities (Services & Products) |
Import, wholesale of system devices, PC peripherals |
||||
|
Annual Sales (MM YEN) |
478,7 |
||||
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Capital Amount (MM YEN) |
40 |
||||
|
Net Worth (MM YEN) |
176,7 |
||||
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FINANCES |
FAIR |
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TREND |
FAIR |
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EMPLOYEES |
8 |
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OTHER
INFORMATION FOLLOWS: |
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Year Started |
1983 |
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Year Registered |
May 1983 |
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Regd No. |
0107-01-003457 (Tokyo-Shinagawaku) |
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Major
Shareholders |
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|
1 |
Makoto Miyaishi (70.7) |
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2 |
Yuji Kishi (25) |
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3 |
Hiroyuki Yamamoto (2.5) |
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4 |
Tomoaki Asahi (1), |
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5 |
Yuko Miyaishi (0.8) |
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Number of Shareholders |
5 |
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Authorized Shares (MM) |
3,200 |
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Issued Shares (MM) |
800 |
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Executives |
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PRESIDENT |
MAKOTO MIYAISHI |
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Director |
Tomoaki Asahi, |
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Main Banks |
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|
1 |
Tokyo City Shinkin Bank (H/O) |
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2 |
Mizuho Bank (Gotanda) |
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Relations |
Satisfactory |
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Clients:
[Electronics mfrs, wholesalers] |
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|
1 |
Teraoka Seiko Co |
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2 |
Mars Engineering |
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|
3 |
Nihon Kohden Corp |
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|
4 |
Amano Corp |
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|
5 |
Fukuda Electronics |
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6 |
Mitsubishi Electric |
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|
7 |
Nippon Computing System |
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8 |
CTC AB |
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9 |
Advantest, |
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|
10 |
other |
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Suppliers [Mfrs,
wholesalers] |
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|
1 |
Skynet Electronics |
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2 |
AAEON Technology |
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|
3 |
ARBOR Technology |
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4 |
Chi Mei Optoelectronics |
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|
5 |
Proware Technology |
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|
6 |
Bearmtech Electronics (--Taiwan) |
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7 |
Takram USA, Panasas Inc (--USA) |
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8 |
INTAS (Korea) |
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9 |
other |
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Domestically supplied from: Oki Semiconductors, Omni Vision
Technologies, Nicom Technology, |
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Asahi Kasei Microsystems, other. |
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Branches |
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1 |
Kyoto (lab) |
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The subject
company was established by Makoto Miyaishi in order to make most of his
experience in the subject line of business.
His is a trading firm for import and wholesale of elec-tronics
components & systems: system devices, PC’s, PC peripherals, other. Goods are mostly imported from Taiwan &
USA, as agent. Clients include
electronics mfrs, wholesalers, other, na-tionwide.
Financials are
disclosed only partially. No financial
information for year 2013 is available.
The sales volume for March/2014 fiscal
term amounted to Yen 478,7 million, a
5.32 % up from Yen 454,5 million in the previous term. The net profit amounted at Yen 1,3 million
which is -87.7% decreased from Yen 10,6
million in 2012.
For the current term ending March 2015,
the net profit at Yen 1,3 million is
estimated based on a 3% rise in turnover, to Yen 493 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business
engagements.
|
PLEASE ATTACH
THE FINANCIALS BELOW. |
|||||
|
Terms Ending: |
31/05/2015 |
31/05/2014 |
31/05/2012 |
31/05/2011 |
|
|
Annual Sales |
493 |
478,7 |
454,5 |
492 |
|
|
Recur. Profit |
.. |
1,5 |
10,8 |
-27 |
|
|
Net Profit |
1,3 |
1,3 |
10,6 |
-28 |
|
|
Total Assets |
|
739,1 |
692,7 |
760 |
|
|
Net Worth |
|
176,7 |
164,8 |
154 |
|
|
Capital, Paid-Up |
|
40 |
40 |
40 |
|
|
Div.P.Share(¥) |
|
0.00 |
0.00 |
0.00 |
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
n/a |
n/a |
3.66 |
-26.68 |
|
|
Current Ratio |
|
.. |
.. |
454.90 |
|
|
N.Worth Ratio |
|
.. |
.. |
20.26 |
|
|
N.Profit/Sales |
n/a |
n/a |
1.96 |
-5.69 |
|
|
Terms Ending: |
|
31/05/2015 |
31/05/2014 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
31/05/2009 |
|
|
Annual Sales |
|
493 |
478,7 |
454,5 |
492 |
|
||
|
Recur. Profit |
|
.. |
1,5 |
10,8 |
-27 |
.. |
||
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Net Profit |
|
1 |
1,3 |
10,6 |
-28 |
|
||
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Total Assets |
|
|
739,1 |
692,7 |
760 |
|
||
|
Net Worth |
|
|
176,7 |
164,8 |
154 |
#VALUE! |
#VALUE! |
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Capital, Paid-Up |
|
|
40 |
40 |
40 |
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|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
|
#VALUE! |
#VALUE! |
3.66 |
-26.68 |
#DIV/0! |
#DIV/0! |
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Current Ratio |
|
|
.. |
.. |
454.90 |
.. |
.. |
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N.Worth Ratio |
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|
.. |
.. |
20.26 |
.. |
.. |
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N.Profit/Sales |
|
0.26 |
#VALUE! |
1.96 |
-5.69 |
#DIV/0! |
#DIV/0! |
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S/Hldrs' Equity |
#VALUE! |
#VALUE! |
#VALUE! |
#VALUE! |
||||
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Div or Taxes |
||||||||
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Offs' Bonus |
||||||||
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Current Assets |
||||||||
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Current Liabs |
||||||||
|
Credit Limit |
2.9 |
(Consolidated in
million yen)
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Terms Ending: |
31/03/2014 |
31/03/2013 |
IND/03/2014 |
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INCOME STATEMENT |
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Annual Sales |
|
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Cost of Sales |
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GROSS PROFIT |
0 |
0 |
0 |
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Selling & Adm Costs |
|
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OPERATING PROFIT |
0 |
0 |
0 |
|
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Non-Operating P/L |
|
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|
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RECURRING PROFIT |
0 |
0 |
0 |
|
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NET PROFIT |
|
|
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BALANCE SHEET |
|
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Cash |
|
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Receivables |
|
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|
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|
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Inventory |
|
|
|
|
|
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Securities, Marketable |
|
|
|
|
|
|
Other Current Assets |
0 |
0 |
0 |
|
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TOTAL CURRENT ASSETS |
|
|
||
|
|
Property & Equipment |
|
|
|
|
|
|
Intangibles |
|
|
|
|
|
|
Investments, Other Fixed
Assets |
0 |
0 |
0 |
|
|
|
TOTAL ASSETS |
|
|
|
|
|
|
Payables |
|
|
|
|
|
|
Short-Term Bank Loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Current Liabs |
0 |
0 |
0 |
|
|
|
TOTAL CURRENT LIABS |
|
|
|
|
|
|
Debentures |
|
|
|
|
|
|
Long-Term Bank Loans |
|
|
|
|
|
|
Reserve for Retirement Allw |
|
|
|
|
|
|
Other Debts |
|
0 |
0 |
0 |
|
|
TOTAL LIABILITIES |
|
|
||
|
|
MINORITY INTERESTS |
|
.. |
||
|
|
Common stock |
|
|
|
|
|
|
Additional paid-in capital |
|
|
|
|
|
|
Retained earnings |
|
|
|
|
|
|
Evaluation p/l on investments/securities |
|
|
|
|
|
|
Others |
0 |
0 |
0 |
|
|
|
Treasury stock, at cost |
|
|
|
|
|
|
TOTAL S/HOLDERS` EQUITY |
|
|
|
|
|
|
TOTAL EQUITIES |
0 |
0 |
0 |
|
|
CONSOLIDATED CASH FLOWS |
|
||||
|
|
Terms ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
|
Cash Flows from Operating Activities |
|
31,178 |
|
|
|
|
Cash Flows from Investment Activities |
31,650 |
|
|
|
|
|
Cash Flows from Financing Activities |
-94,276 |
|
|
|
|
|
Cash, Bank Deposits at the Term End |
|
140,940 |
|
|
|
ANALYTICAL RATIOS Terms ending: |
31/03/2014 |
31/03/2013 |
IND/03/2014 |
||
|
|
Net Worth (S/Holders' Equity) |
0 |
0 |
0 |
|
|
|
Current Ratio (%) |
#DIV/0! |
#DIV/0! |
#DIV/0! |
|
|
|
Net Worth Ratio (%) |
#DIV/0! |
#DIV/0! |
#DIV/0! |
|
|
|
Recurring Profit Ratio (%) |
#DIV/0! |
#DIV/0! |
#DIV/0! |
|
|
|
Net Profit Ratio (%) |
#DIV/0! |
#DIV/0! |
#DIV/0! |
|
|
|
|
Return On Equity (%) |
#DIV/0! |
#DIV/0! |
#DIV/0! |
|
Notes: Audited by CPA. IND/xx/yyyy..
Non-consolidated figures for (xx month)/(yyyy year) term. |
|||||
|
|
|
|
|
|
|
|
Current Sales |
0 |
||||
|
Credit Limit |
#DIV/0! |
||||
|
Business |
Terms Ending |
Annual Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
|
|
Results: |
31/03/2011 |
|
|
|
(%) |
|
|
|
(Consolidated) |
31/03/2012 |
|
|
|
#DIV/0! |
|
|
|
31/03/2013 |
0 |
0 |
0 |
#DIV/0! |
0 |
|
|
|
31/03/2014 |
0 |
0 |
0 |
#DIV/0! |
0 |
|
|
|
31/03/2015 |
|
|
|
#DIV/0! |
.. |
|
|
|
0Forecast (or estimated)
figures for *** term. |
*..Unit: Million Yen |
|
|||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.