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Report No. : |
307516 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
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Name : |
OLYMPUS IMAGING CORPORATION |
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Registered Office : |
2951 Ishikawamachi Hachioji City Tokyo-Metrop 192-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
October 2004 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is engaged manufactures digital cameras, film cameras, TV cameras,
recorders, other. |
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No. of Employee : |
600 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 1,799.0 Million |
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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 |
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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 |
OLYMPUS IMAGING CORPORATION
REGD NAME: Olympus
Imaging KK
MAIN OFFICE: 2951
Ishikawamachi Hachioji City Tokyo-Metrop 192-0032 JAPAN
Tel: 042-642-6162
URL: http://www.olympus-imaging.jp
E-Mail
address: (thru the URL)
Mfg of digital
cameras, film cameras, recorders, other
Tokyo, Nagano,
other (6)
At the caption
address
HARUO OGAWA, PRES Toshiaki Gomi, dir
Masamichi Handa,
dir Yasuo Takeuchi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 71,479 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 19,500 M
TREND SLOW WORTH Yen 16,658 M
STARTED 2004 EMPLOYES 600
MFR OF CAMERAS, OWNED BY OLYMPUS CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 1,799.0 MILLION, ON 30 DAYS
NORMAL TERMS.
The subject company was established by Olympus Corp as its mfg
division. This is a specialized mfr of
digital cameras, film cameras, recorders, other. Goods are supplied to the Group firms and are
exported thru the parent’s overseas channels.
The sales volume for Mar/2014 fiscal term amounted to Yen 71,479
million, a 20% down from Yen 89,298 million in the previous term. The operations continued in the red to post
Yen 10,027 million recurring loss and Yen 5,795 million net losses,
respectively, compared with Yen 14,275 million recurring loss and Yen 14,659
million net loss, respectively, a year ago.
The firm increased the capital in Feb 2014 to Yen 19,500 million from
Yen 11,000 million.
For the current term ending Mar 2015teh operations are expected to come
back to profitability but still limited to a minimum amount post-taxes, on a 3%
rise in turnover to Yen 73,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is estimated at Yen 1,799.0
million, on 30 days normal terms.
Date
Registered: Oct 2004
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 88 million shares
Issued:
39 million shares
Sum:
Yen
19,500 million
Major shareholders (%): Olympus Corp* (100)
*.. Pioneer in light-weight SLR cameras,
Tokyo, founded 1919, listed Tokyo s/E, capital
Yen 124,520 million, sales Yen
713,286 million, operating profit Yen 73,445 million, recurring profit Yen 50,93 million, net profit Yen 13,627
million, total assets Yen 1,007,452 million,
net worth Yen 332,282 million, employees 31,073, pres Hiroyuki Sasa
Nothing detrimental is known as to
the commercial morality of executives.
Activities: Manufactures digital cameras, film
cameras, TV cameras, recorders, other (--100%)
Clients: [Mfrs, wholesalers] Olympus Group
firms domestic & overseas
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Olympus Group firms
Payment record: No Complaints
Location: Business area in Hachioji,
Tokyo-Metrop. Office premises at the
caption address are owned and maintained satisfactory.
Bank References:
SMBC
(Ikebukuro-Nishiguchi)
MUFG
(Shinjuku-Fukutoshin)
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 |
|
73,500 |
71,479 |
89,298 |
106,610 |
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Recur.
Profit |
|
0 |
-10,027 |
-14,275 |
-4,983 |
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Net
Profit |
|
0 |
-5,795 |
-14,659 |
-10,521 |
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Total
Assets |
|
|
42,115 |
32,500 |
53,381 |
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Current
Assets |
|
|
38,702 |
28,701 |
48,049 |
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Current
Liabs |
|
|
25,267 |
26,861 |
33,040 |
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Net
Worth |
|
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16,658 |
5,427 |
19,496 |
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Capital,
Paid-Up |
|
|
19,500 |
11,000 |
11,000 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.83 |
-19.95 |
-16.24 |
2.56 |
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Current Ratio |
|
.. |
153.17 |
106.85 |
145.43 |
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N.Worth Ratio |
|
.. |
39.55 |
16.70 |
36.52 |
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R.Profit/Sales |
|
0.00 |
-14.03 |
-15.99 |
-4.67 |
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N.Profit/Sales |
|
0.00 |
-8.11 |
-16.42 |
-9.87 |
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
: |
KAR |
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Report Prepared
by : |
ASH |
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.