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Report No. : |
307959 |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
HITACHI INDUSTRY & CONTROL SOLUTIONS
LTD |
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Registered Office : |
5-1-26 |
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Country : |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
June 1979 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is engineering of security system, imaging
applications, CTI solutions, other. |
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No. of Employee : |
4,299 |
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 2,218.3 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 |
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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 |
HITACHI INDUSTRY & CONTROL SOLUTIONS LTD
REGD NAME: KK
Hitachi Sangyo Seigyo (means control) Solutions
MAIN OFFICE: 5-1-26
Omikacho Hitachi City Ibaraki-Pref 319-1221 JAPAN
Tel: 0294-53-6115
URL: http://www.hitachi-ics.co.jp
E-Mail
address: (thru the URL)
Engineering
of security system, imaging applications, CTI solutions, other
Tokyo,
Yokohama, Osaka, Nagoya, Hiroshima, Fukuoka, other
MITSUO
TAKAYAMA, PRES Teizo Fujii, s/mgn dir
Takashi
Kitamura, mgn dir Akira
Nishitani, mgn dir
Shoji
Yamaguchi, mgn dir Hiroyuki
Mizutani, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 46,713 M
PAYMENTSREGULAR CAPITAL Yen
3,000 M
TREND UP WORTH Yen 14,010 M
STARTED 1979 EMPLOYES 4,299
ENGINEERING COMPANY, OWNED BY
HITACHI LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: ESTIMATED AT YEN 2,218.3 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established on the basis of a
division separated from Hitachi Ltd (See REGISTRATION). This is an engineering company of industrial
solutions, security, embedded systems, CTI solutions, mfg, logistics,
other. In Apr 2014, the firm integrated
3 group firms to streamline operations.
Clients are Hitachi Group firms.
The sales volume for Mar/2014 fiscal term amounted to Yen
46,713 million, a 1% down from Yen 47,013 million in the previous term. The recurring profit was posted at Yen 2,812
million and the net profit at Yen 1,218 million, respectively, compared with
Yen 3,506 million recurring profit and Yen 2,306 million net profit,
respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 4,800 million and the net profit at Yen 2,000 million,
respectively, on a 71% rise in turnover, to Yen 79,800million.
This is attributed to the said merger of group firms.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max credit limit is estimated at Yen 2,218.3
million, on 30 days normal terms.
Date
Registered: Jun 1979
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
18 million shares
Issued:
4.54 million shares
Sum:
Yen 3,000 million
Major shareholders (%): Hitachi Ltd* (100)
*..
Hitachi Ltd, largest comprehensive mfr of electrical products, Tokyo, founded
1920, listed Tokyo S/E, capital Yen 458,790 million, sales Yen 9,616,202
million, operating profit Yen 532,811 million, recurring profit Yen 568,182
million, net profit Yen 264,975 million, total assets Yen 10,882,978 million,
net worth Yen 2,635,772 million, employees 325,700, pres Hiroaki Nakanishi
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Engineering Company for: industrial
solutions, security, embedded systems, logistics, imaging applications, CTI
solutions, other (--100%)
Clients: [Mfrs, wholesalers] Hitachi Ltd,
Hitachi Systems, Renesas Electronics, other
No. of accounts: 350
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Hitachi Systems,
Hitachi Ltd, System Design, other
Payment record: Regular
Location:
Business area in Hitachi City, Ibaraki-Pref.
Office premises at the caption address are owned and maintained
satisfactory.
Bank References:
Mizuho Bank (Hitachi)
Joyo Bank (Hitachi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
79,800 |
46,713 |
47,013 |
49,903 |
|
Recur.
Profit |
|
4,800 |
2,812 |
3,506 |
4,409 |
|
Net
Profit |
|
2,000 |
1,218 |
2,306 |
1,981 |
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Total
Assets |
|
|
34,708 |
36,508 |
35,735 |
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Current
Assets |
|
|
25,884 |
26,926 |
|
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Current
Liabs |
|
|
10,362 |
11,722 |
|
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Net
Worth |
|
|
14,010 |
14,012 |
13,081 |
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Capital,
Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
|
Div.P.Share(¥) |
|
|
189.00 |
357.00 |
306.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
70.83 |
-0.64 |
-5.79 |
4.23 |
|
Current Ratio |
|
.. |
249.80 |
229.70 |
.. |
|
N.Worth Ratio |
|
.. |
40.37 |
38.38 |
36.61 |
|
R.Profit/Sales |
|
6.02 |
6.02 |
7.46 |
8.84 |
|
N.Profit/Sales |
|
2.51 |
2.61 |
4.91 |
3.97 |
|
Return On Equity |
|
.. |
8.69 |
16.46 |
15.14 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.15 |
|
|
1 |
Rs. 94.72 |
|
Euro |
1 |
Rs. 70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
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 |
|
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 |
|
-- |
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.