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Report No. : |
312310.2 |
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Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
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Name : |
JAPAN SECURITY SYSTEM INC |
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Registered Office : |
World Trade Center Bldg 9F, 2-4-1 Hamamatsucho Minatoku Tokyo 105-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
August 2004 |
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Com. Reg. No.: |
2100-01-051374 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures, imports and exports security cameras: outdoor cameras,
one cable cameras, dome cameras, indoor standard cameras, digital video recorders,
dummy cameras, housing cases, camera/monitor brackets, and peripheral
devices. |
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No. of Employees : |
40 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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.
|
Source
: CIA |
JAPAN SECURITY
SYSTEM INC
KK Nihon Bouhan System
World Trade Center Bldg 9F, 2-4-1 Hamamatsucho Minatoku Tokyo
105-0013 JAPAN
Tel: 003-0809-1217
Fax: 03-6809-1701
E-Mail address: (thru the URL)
ACTIVITIES: Wholesale of security cameras &
peripherals
BRANCHES: Sendai, Nagoya, Osaka Hiroshima, Fukuoka
OVERSEAS: Taiwan
FACTORIES: None
OFFICER(S): IZUMI KAKU, PRES
Fumika Kaku, s/mgn
dir
Tomofumi
Nishiyama dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,349 M (2013 result)
PAYMENTS NO COMPLAINTS CAPITAL Yen
10 M
TREND UP WORTH Unavailable
STARTED 2004 EMPLOYES 40
COMMENT: WHOLESALER SPECIALIZING IN
SECURITY/MONITOR CAMERAS FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Izumi Kaku in order to make most
of his experience in the subject lien of business, as On-Sales KK, and renamed
as captioned in Jan 2009. This is a
fabless mfr of security cameras and peripherals. Products are also mfr’d on OEM basis. Opened Taipei Office in Jan 2006. Products are subcontracted mfg to overseas
& domestic mfrs. Closed
distributorship agreements with NTT and Panasonic Corp in Jun 2010. Sales keep growing. The firm moved the headquarters to Tokyo from
Fukuoka in Jan 2013, with Fukuoka becoming its branch office
Financials are disclosed only partially.
Only available data as of 27th March 2015 is figures in
2013. Below numbers related 2014 &
2015 are estimates.
The sales volume for March /2014 fiscal term amounted to Yen 1,389
million, a 3% up from Yen 1,349 million in the previous term. The net profit amounted at Yen 45 million
which has been stable from 2013, Yen 43 million.
For the current term ending March 2015, the net profit at Yen 46 million
is estimated based on a 2% rise in turnover, to Yen 1,431 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business. The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: August
2004
Regd No.: 2100-01-051374
(Tokyo Minato-ku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders
(%): Izumi Kaku (100)
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures,
imports and exports security cameras: outdoor cameras, one cable cameras, dome
cameras, indoor standard cameras, digital video recorders, dummy cameras,
housing cases, camera/monitor brackets, and peripheral devices.
Clients: [Mfrs,
wholesalers, agent dealers] Arucom Inc (24.6%), Japan Eagles, Saison Corp, Toyo
Kiki Corp, Enzan Kobo Corp, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] AV Tech Corp, Geo Vision
Korean Supplier, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Bank of Fukuoka (Hakata-Ekimae)
Nishinippon City Bank (Hakata-Ekimae)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
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Annual Sales |
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1,431 |
1,389 |
1,349 |
1,065 |
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Recur. Profit |
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n/a |
n/a |
n/a |
67 |
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Net Profit |
|
46 |
45 |
43 |
40 |
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Total Assets |
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n/a |
n/a |
n/a |
407 |
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Net Worth |
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n/a |
n/a |
n/a |
227 |
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Capital, Paid-Up |
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n/a |
n/a |
n/a |
10 |
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Div.P.Share(¥) |
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n/a |
n/a |
n/a |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.00 |
3.00 |
26.62 |
#DIV/0! |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
55.77 |
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N.Profit/Sales |
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3.22 |
3.22 |
3.22 |
3.76 |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2014 and 2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
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|
1 |
Rs.91.60 |
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Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.