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Report No. : |
317575 |
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Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
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Name : |
ITC CO LTD |
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Registered Office : |
Fifth Bldg 4F, 5-5 Nibancho Chiyodaku Tokyo 102-0084 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2014 |
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Date of Incorporation : |
July, 1998 |
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Com. Reg. No.: |
0100-01-009476 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of PC motherboards, DRAM module, chips, switching power, other. |
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No. of Employees : |
16 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
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.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a
longstanding debate on restructuring the economy and reining in Japan's huge
government debt, which amounts to more than 240% 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 2015, although the government
in 2014 decided to postpone the final phase of the increase until 2017 to give
the economy time to recover from the 2014 increase. 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 |
ITC CO LTD
REGD NAME: KK
ITC
MAIN OFFICE: Fifth
Bldg 4F, 5-5 Nibancho Chiyodaku Tokyo 102-0084 JAPAN
Tel: 03-6272-6262 Fax: 03-5226-3455
URL: http://www.itc-web.jp/
E-mail: (thru
the URL)
Mfg of PC
motherboards, DRAM module, chips, switching power, other
Nil
Saitama
TADASHI IKEDA,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,035 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 80 M
TREND UP WORTH Yen 147 M
STARTED 1998 EMPLOYES 16
MFR OF PC
MOTHERBOARDS, PERIPHERALS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$75,000 TERMS O/A 30 DAYS
The subject
company was established by Tadashi Ikeda in order to make most of his
experience in the subject line of business. This is a trading firm for import, export and wholesale of PCs, PC
motherboards, DRAM module, chips, switching power, digital power, and peripherals. Goods are imported
mainly from Taiwan, and also from USA, Singapore, Korea, other. Domestic clients include electronic firms, chain
stores, other
The sales volume
for Aug/2014 fiscal term amounted to Yen 2,035 million, an 18% up from Yen 1,722
million in the previous term. PC market
revived. Export revenues increased
thanks to the weaker Yen. The net profit
was posted at Yen 20 million, compared with Yen 8 million a year ago. Profits improved.
For the current
term ending Aug 2015 the net profit is projected at Yen 25 million, on a 6%
rise in turnover, to Yen 2,150 million.
Business is seen expanding steadily.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jul 1998
Regd No.:
0100-01-009476 (Tokyo-Chiyodaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 6,400 shares
Issued: 1,600 shares
Sum: Yen 80 million
Major shareholders (%): Tadashi Ikeda
(100)
Nothing detrimental
is known as to his commercial morality.
Activities: Manufactures PC
motherboards, DRAM module, DRAM chips, switching power, digital power, other
peripherals (--100%).
Import agent for: Hi Tech Information System
Ltd, Inno Vision Multimedia Ltd, Philips & Lite-On Digital Solutions Corp
(--Taiwan)
Clients: [Electronics
mfrs, wholesalers] Sofmap Co, Unit Com, Sophia Research Institute, NEC
Purchasing Service, Yamada Denki Co, Bic Camera, Unit Com Ind, BCD Corp, other
Exports to Taiwan, USA, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers [Mfrs, wholesalers] Pandam International,
Legacy Electronics, other.
Imports from Taiwan, USA, Korea, Singapore,
other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Kanda)
SMBC (Kanda)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/08/2015 |
31/08/2014 |
31/08/2013 |
31/08/2012 |
|
Annual
Sales |
|
2,150 |
2,035 |
1,722 |
2,085 |
|
Recur.
Profit |
|
.. |
.. |
.. |
17 |
|
Net
Profit |
|
25 |
2 |
20 |
8 |
|
Total
Assets |
|
|
N/A |
N/A |
662 |
|
Net
Worth |
|
|
147 |
145 |
131 |
|
Capital,
Paid-Up |
|
|
80 |
80 |
80 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.65 |
18.18 |
-17.41 |
-14.65 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
19.79 |
|
N.Profit/Sales |
|
1.16 |
0.10 |
1.16 |
0.38 |
Notes: Financials are only partially disclosed for
the 31/08/2013 fiscal term.
Forecast (or estimated)
figures for the 31/08/2015 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.93.10 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.