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Report No. : |
307511 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
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Name : |
KYOCERA OPTEC CO LTD |
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Registered Office : |
3-1778 Osogi Ome City Tokyo-Metrop 198-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May 1949 |
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Com. Reg. No.: |
0131-01-003563 (Tokyo-Ome) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures optical lenses: for OA/FA machinery &
equipment, for medical instruments, projectors, for cameras |
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No. of Employee : |
228 |
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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Maximum Credit Limit : |
YEN 164.1 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Sloe but correct |
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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. 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.
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Source
: CIA |
KYOCERA OPTEC CO
LTD
REGD NAME: Kyocera Optec KK
MAIN OFFICE: 3-1778 Osogi Ome City Tokyo-Metrop 198-0003
JAPAN
Tel:
042-874-5111 Fax: 042-874-4692
URL: http://www.kop.co.jp
E-Mail address: (thru
the URL)
Mfg of optical lenses
Tokyo (Shinjukuku), Osaka
USA, China
At the caption address, Chigase (Ome City); China
FUMINORI YAMAGIWA, PRESTetsuo Kubo, ch
Akiyoshi Takamizu, dir Katsushi
Kobayashi, dir
Toshihiro Oshigamo, dir Koichi
Kano, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen
5,742 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
240 M
TREND UP WORTH Yen 1,764 M
STARTED 1949 EMPLOYES 228
MFR OF OPTICAL LENSES, OWNED BY KYOCERA CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 164.1 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally as Tomioka
Optical Co Ltd, and in 1960 commenced production of SLR camera lenses &
copier lenses. In 1968, the firm became
the member of Yashica Co, camera maker.
In 1983, Yashica was acquired by Kyocera Corp (See REGISTRATION) and the firm became its wholly owned subsidiary, and
renamed as captioned. This is a
specialized mfr of optical lenses for optical instruments & machines. Products are exported. Has mfg base in China. Clients include major electronics makers
nationwide.
The sales volume for Mar/2014 fiscal term amounted to Yen
5,742 million, a 10% up from Yen 5,225 million in the previous term. The net profit was posted at Yen 108 million,
compared with Yen 141 million recurring profit and Yen 127 million net profit,
respectively, a year ago.
For the current term ending Mar 2015 the net profit is
projected at Yen 115 million, on a 5% rise in turnover, to Yen 6,050
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 164.1 million, on 30 days normal terms.
Date
Registered: May 1949
Regd
No.: 0131-01-003563 (Tokyo-Ome)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
1.9 million shares
Issued:
480,000 shares
Sum: Yen 240 million
Major
shareholders (%): Kyocera Corp* (100)
*.. Major
comprehensive ceramics mfr, Kyoto, founded 1959, listed Tokyo S/E, capital Yen
115,703 million, sales Yen 1,447,369 million, operating profit Yen 120,582
million, recurring profit Yen 146,268 million, net profit Yen 88,756 million,
total assets Yen 2,633,602 million, net worth Yen 1,925,976 million, employees
69,628, pres Goro Yamagishi
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Manufactures optical lenses: for OA/FA machinery & equipment (50%), for
medical instruments, projectors (40%), for cameras, other (10%).
(Mfg
Items): Optical components (aspherical lenses, spherical lenses,
asymmetrical/cylindrical lenses, mirrors, plastic lenses); Optical units
(machine—vision lenses, line-sensor lenses, custom optical units, scanner
lenses, custom CCD/CMOS lenses – for visible light & near-IR); structural
components (mechanical & precision parts), other.
Clients:
[Mfrs, wholesalers] Kyocera Corp, Seiko Epson, Shinkawa Ltd, Dainippon Screen
Mfg, Tokyo Seimitsu Co, Toshiba Tec Corp, Hitachi Hi-Technologies, Tokyo
Electron Yamanashi, Shinkawa Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Ohara Inc, Tokiwa Optical Corp, San-Ei Optical Co, Kyowa,
Marushin Communications, Fuji Optics, other
Payment
record: Slow but
correct
Location:
Business area in Ome City, Tokyo-Metrop.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank
References:
Mizuho Bank (Higashi-Ome)
MUFG (Fussa)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual Sales |
|
6,050 |
5,742 |
5,225 |
5,869 |
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Recur. Profit |
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141 |
246 |
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Net Profit |
|
115 |
108 |
127 |
242 |
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Total Assets |
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3,793 |
3,770 |
3,653 |
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Current Assets |
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|
2,836 |
2,854 |
3,082 |
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Current Liabs |
|
|
1,275 |
1,496 |
1,192 |
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Net Worth |
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1,764 |
1,699 |
1,667 |
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Capital, Paid-Up |
|
|
240 |
240 |
240 |
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Div.P.Share(¥) |
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0.00 |
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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5.36 |
9.89 |
-10.97 |
1.56 |
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Current Ratio |
|
.. |
222.43 |
190.78 |
258.56 |
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N.Worth Ratio |
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.. |
46.51 |
45.07 |
45.63 |
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R.Profit/Sales |
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.. |
.. |
2.70 |
4.19 |
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N.Profit/Sales |
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1.90 |
1.88 |
2.43 |
4.12 |
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Return On Equity |
|
.. |
6.12 |
7.47 |
14.52 |
Notes: Forecast (or estimated) figures for the 31/03/2015
fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
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|
1 |
Rs.94.79 |
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Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
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Analysis Done by
: |
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.