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Report No. : |
307512 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NIDEC COPAL CORPORATION |
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Registered Office : |
2-18-10 Shimura Itabashiku Tokyo 174-0056 |
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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.: |
0114-01-007178 (Tokyo-Itabashiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Mfg of optical equipment |
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No of Employees : |
740 |
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 1,476.8 Million |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
NIDEC
COPAL CORPORATION
Nihon Densan Copal KK
2-18-10 Shimura Itabashiku Tokyo 174-0056
JAPAN
Tel: 03-3965-1111 Fax: 03-3965-2831
URL: http://www.nidec-copal.com
E-Mail address: (thru the URL)
Mfg of optical equipment
Osaka, Koriyama, other
China, Vietnam, Thailand, Vietnam,
Malaysia, Hong Kong, Korea, USA, Germany
At the caption address; Iwate,
Shiojiri
TOSHIHIRO KIMURA, PRES Akira Sato, ch
Yoshinori Fukasaku, mgn dir Takaaki Okazaki, mgn dir
Tomohiko Hatori, dir Hiroshi Iizuka, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 29,665 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 11,080 M
TREND STEADY WORTH Yen 26,986 M
STARTED 1949 EMPLOYES 740
MFR OF OPTICAL EQUIPMENT, OWNED BY NIDEC CORP. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT
YEN 1,476.8 MILLION, ON 30 DAYS NORMAL TERMS.
The subject
company is a specialized mfr of optical equipment, such as shutters, lenses
& camera module for mobile phones, etc.
Once listed on the Tokyo S/E, but was delisted 2014 when the firm became
a 100% owned subsidiary of NIDEC Corp (See REGISTRATION).
Goods are widely exported and imported,
utilizing its subsidiaries & agents overseas.
The
sales volume for Mar/2014 fiscal term amounted to Yen 29,665 million, an almost
similar amount of Yen 29,635 million in the previous term. The recurring profit was posted at Yen 1,755
million and the net profit at Yen 2,016 million, respectively, compared with
Yen 804 million recurring profit and Yen 5,243 million net losses,
respectively, a year ago. The firm
turned to black for this term by the disposal profits of assets.
For
the current term ending Mar 2015 the recurring profit is projected at Yen 1,800
million and the net profit at Yen 230 million, respectively, on a 3% rise in
turnover, to Yen 30,500 million.
The
financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,476.8
million, on 30 days normal terms.
Date Registered:
May 1949
Regd No.: 0114-01-007178
(Tokyo-Itabashiku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 88.6
million shares
Issued: 22.16
million shares
Sum: Yen
11,080 million
Major
shareholders (%): NIDEC Corp* (100)
*.. Mfr of precision motors, Kyoto, founded 1973, listed Tokyo,
New York S/E’s, capital Yen 66,551
million, sales Yen 875,109 million, operating profit Yen 85,068 million,
recurring profit Yen 84,664 million, net profit Yen 56,404 million, total
assets Yen 1,170,838 million, net worth Yen 520,758 million, employees100,394,
pres Shigenobu Nagamori
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Manufactures optical equipment, such as shutters, lenses & camera module
for mobile phones, precision instruments, other (--100%)
Clients:
[Mfrs, wholesalers] Itochu Corp, Samson Japan, NIDEC Copal Thailand, Niigata
NIDEC Copal, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Niigata NIDEC Copal, NIDEC Copal Vietnam, Thailand,
Philippines, other
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactory.
Bank References:
Mizuho
Bank (H/O)
SMBC
(Hakusan)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
30,500 |
29,665 |
29,635 |
40,131 |
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Recur. Profit |
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1,800 |
1,755 |
804 |
2,330 |
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Net Profit |
|
230 |
2,016 |
-5,243 |
267 |
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Total Assets |
|
|
40,857 |
39,874 |
49,386 |
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Current Assets |
|
|
16,970 |
15,950 |
26,247 |
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Current Liabs |
|
|
17,861 |
12,243 |
15,390 |
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Net Worth |
|
|
26,986 |
26,434 |
33,278 |
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Capital, Paid-Up |
|
|
11,080 |
11,080 |
11,080 |
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Div.Ttl in Million (¥) |
|
|
0.00 |
930 |
1,099 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
2.81 |
0.10 |
-26.15 |
-25.73 |
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Current Ratio |
|
.. |
95.01 |
130.28 |
170.55 |
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N.Worth Ratio |
|
.. |
66.05 |
66.29 |
67.38 |
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R.Profit/Sales |
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5.90 |
5.92 |
2.71 |
5.81 |
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N.Profit/Sales |
|
0.75 |
6.80 |
-17.69 |
0.67 |
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Return On Equity |
|
.. |
7.47 |
-19.83 |
0.80 |
Notes: Forecast (or estimated)
figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.14 |
|
|
1 |
Rs. 94.78 |
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Euro |
1 |
Rs. 70.38 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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.