MIRA INFORM REPORT
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Report No. : |
318256 |
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Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
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Name : |
PRINCETON LTD |
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Registered Office : |
K.A.I. Bldg 3F, 3-9-5 Iwamotocho Chiyodaku Tokyo 101-0032 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2015 |
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Date of Incorporation : |
March 1995 |
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Com. Reg. No.: |
0100-01-028443 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports and wholesales PC & peripherals: Raid storage subsystem,
memory module, media card, card reader/writer, USB flash memory, LCD &
accessories, tablet, drive disk, drive storage, A/V accessories, PC
converters, KVM switches, LAN cable, switching HUB, USB security key,
Bluetooth adaptor, iPod-iPhone series (speaker, battery bag, remote
controllers, transmitter, touch pen/stand, media card), digital conference
systems, other related products |
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No. of Employee : |
129 |
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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
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.
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Source
: CIA |
Company
name and address
PRINCETON
LTD
(Renamed from Princeton Technology Ltd)
REGD NAME: Princeton
KK
MAIN OFFICE: K.A.I.
Bldg 3F, 3-9-5 Iwamotocho Chiyodaku Tokyo 101-0032 JAPAN
Tel: 03-3863-7131
Fax: 03-3863-3451
URL: http://www.princeton.co.jp/
E-Mail address: (thru
the URL)
ACTIVITIES
Import, wholesale
of PC peripherals
BRANCHES
Osaka, Fukuoka
OFFICER(S)
TOSHIYA NAKAIDE,
PRES Takanori Asaishi, dir
Noriyuki Usami dir Manabu Kusano, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,622 M
PAYMENTSNo
Complaints CAPITAL Yen 181 M
TREND UP WORTH Yen 4492 M
STARTED 1995 EMPLOYES 129
COMMENT
IMPORTER OF PC PHERIPHERALS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$200,000
O/A 60 DAYS TERMS.
HIGHLIGHTS
The subject company was established by Joji
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 PC & peripherals. Goods are imported from USA, Taiwan, other,
as import agent. Toshiya Nakaide took
the pres office in Nov 2009. Clients
include major electronics mfrs, wholesalers, other, nationwide.
FINANCIAL
INFORMATION
The sales volume for Feb/2014 fiscal term amounted
to Yen 6,622 million, a 20% up from Yen 5,514 million in the previous
term. The recurring profit was posted at
Yen 57 million and the net profit at Yen 23 million, respectively, compared
with Yen 25 million recurring profit and Yen 2 million net profit,
respectively, a year ago.
For the term that ended Feb 2015 the recurring profit was projected at
Yen 65 million and the net profit at Yen 30 million, respectively, on a 5% rise
in turnover, to Yen 6,955 million. Final
results are yet to be released. .
The financial situation is considered FAIR and good for ORDINARY
business engagements. The proposed amount for O/A 60 days comes well within the
firm’s financial capacities.
REGISTRATION
Date Registered: Mar 1995
Regd No.:
0100-01-028443
(Tokyo-Chiyodaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 6,400 million shares
Issued: 1,600
shares
Sum: Yen
181 million
Major
shareholders (%): Toshiya Nakaide (25), Manabu Kusano (25), Noriyuki Usami (25), Takanori
Asaishi (25)
No.
of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales PC & peripherals: Raid storage subsystem, memory module, media card,
card reader/writer, USB flash memory, LCD & accessories, tablet, drive
disk, drive storage, A/V accessories, PC converters, KVM switches, LAN cable,
switching HUB, USB security key, Bluetooth adaptor, iPod-iPhone series
(speaker, battery bag, remote controllers, transmitter, touch pen/stand, media
card), digital conference systems, other related products (--100%).
Import agent for: Kingston Technology,
Polycom, ATE (Taiwan), Proware Technology, ATEN International Co, AudiSoft
Technologies, Vidyo Inc
Clients: [Electronics
mfrs, wholesalers] SoftBank BB, Ricoh Co, Daiwabo Information System, Yodobashi
Camera, Bic Camera, Canon System & Support, NEC Nexsolutions, NTT
Communications Corp, Otsuka Corp, KDD Corp, Hirose Radio & Electric Co,
Fujitsu Marketing Ltd, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kingston Technology, ATE, Polycom Asia, Proware Technology, Chi
Mei Corp, 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
(Kudan)
MUFG
(Kanda-Ekimae)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
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Annual
Sales |
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6,955 |
6,622 |
5,514 |
5,477 |
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Recur.
Profit |
|
65 |
57 |
25 |
82 |
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Net
Profit |
|
30 |
23 |
2 |
25 |
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Total
Assets |
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3,308 |
2,544 |
2,641 |
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Current
Assets |
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|
2,917 |
2,304 |
2,382 |
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Current
Liabs |
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|
2,327 |
1,917 |
1,935 |
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Net
Worth |
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|
492 |
469 |
467 |
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Capital,
Paid-Up |
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|
181 |
181 |
181 |
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Div.Ttl
in Million (¥) |
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0.8 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.03 |
20.09 |
0.68 |
-15.54 |
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Current Ratio |
|
.. |
125.35 |
120.19 |
123.10 |
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N.Worth Ratio |
|
.. |
14.87 |
18.44 |
17.68 |
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R.Profit/Sales |
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0.93 |
0.86 |
0.45 |
1.50 |
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N.Profit/Sales |
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0.43 |
0.35 |
0.04 |
0.46 |
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Return On Equity |
|
.. |
4.67 |
0.43 |
5.35 |
Notes: Forecast (or estimated) figures for
the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.61 |
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|
1 |
Rs.96.56 |
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Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
ANK |
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 |
-- |
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.