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Report No. : |
307520 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
XACTI CORPORATION |
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Registered Office : |
1-1 Sanyocho Daito City
Osaka-Pref 573-0035 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 (Estimated) |
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Date of Incorporation : |
April 2012 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Subject is a Digital Imaging Engineering Company · Engaged in Manufacturing of OEM Digital Cameras & Digital Movie Cameras |
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No of Employees : |
476 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 1,379.2 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 |
|
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. 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.
|
Source
: CIA |
XACTI CORPORATION
KK Xacti
1-1 Sanyocho Daito City Osaka-Pref 573-0035 JAPAN
Tel: 072-870-6204 Fax: 072-870-6051
E-Mail address: (thru the
URL)
· Subject is a Digital Imaging Engineering Company
·
Engaged in Manufacturing of OEM Digital Cameras
& Digital Movie Cameras
Nil
Indonesia
At the caption address
TAKAO NISHIYAMA, PRES Takao
Isaji, ch
Nobuyoshi Haruki, dir Tatsuaki
Domura, dir
Kentaro Yamaji, dir Katsuya Baba, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 46,500 M
PAYMENTSNo Complaints CAPITAL Yen 499 M
TREND STEADY WORTH Yen 6,770 M
STARTED 2012 EMPLOYES 476
OEM
MFR OFCAMERAS, DIGITALCAMERAS, OTHER.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 1,379.2 MILLION, ON 30
DAYS NORMAL TERMS.
The subject company was established by Takao Nishiyama in order to make most of his experience in the subject line of business. This is a specialized mfr of OEM digital cameras & digital movie cameras. Goods are also imported from its subsidiary in Indonesia. Clients include domestic camera makers, other
The sales volume for Mar/2014
fiscal term amounted to Yen 46,500 million, a 29% up from Yen 35,943 million in the initial
previous term. The recurring profit was
posted at Yen 444 million and the net profit at Yen 368 million, respectively,
compared with Yen 4,834 million recurring loss and Yen 8,616 net loss,
respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected at Yen 450 million and the net profit at Yen 370 million, respectively, on a 5% rise in turnover, to Yen 18,850 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,379.2 million, on 30 days normal terms.
Date Registered: Apr 2012
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 39,920 shares
Issued: 9,980 shares
Sum: Yen 499 million
Major shareholders (%): Xacti Holdings* (100)
*..
Holding Company
Nothing detrimental is known as to the commercial morality
of executives.
Activities: OEM mfr of digital cameras & digital movie cameras, other (--100%)
Clients: [Mfrs, wholesalers] Domestic camera makers, other (--100%)
No. of accounts: 50
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Xacti Indonesia, other
Payment record: No Complaints
Location: Business area in Daito City, Osaka-Pref. Office premises at the caption address are owned and maintained satisfactory.
Bank References:
SMBC (Osaka)
MUFG (Osaka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
48,850 |
46,500 |
35,943 |
|
Recur.
Profit |
|
450 |
444 |
-4,834 |
|
Net
Profit |
|
370 |
368 |
-8,616 |
|
Total
Assets |
|
|
19,344 |
26,468 |
|
Current
Assets |
|
|
13,393 |
21,247 |
|
Current
Liabs |
|
|
9,845 |
17,039 |
|
Net
Worth |
|
|
6,770 |
6,402 |
|
Capital,
Paid-Up |
|
|
499 |
499 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.05 |
29.37 |
- - - |
|
Current Ratio |
|
.. |
136.04 |
124.70 |
|
N.Worth Ratio |
|
.. |
35.00 |
24.19 |
|
R.Profit/Sales |
|
0.92 |
0.95 |
-13.45 |
|
N.Profit/Sales |
|
0.76 |
0.79 |
-23.97 |
|
Return On Equity |
|
.. |
5.44 |
-134.58 |
Notes:
Financials are only partially disclosed.
The 31/03/2013 fiscal term is the initial accounting term from inception.
Forecast (or estimated) figures for the 31/03/2015 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
UK Pound |
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
<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.