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Report No. : |
309309 |
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Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NISSHO ELECTRONICS CORPORATION |
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Registered Office : |
Kojimachi Mitsuba Bldg, 3-5 Nibancho Chiyodaku Tokyo 102-0084 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
Feb., 1969 |
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Com. Reg. No.: |
0100-01-053447 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Electronic Products,
Computer Systems. |
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No. of Employees : |
562 |
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 Limits : |
YEN 1,386.3 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) |
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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.
|
Source
: CIA |
NISSHO ELECTRONICS CORPORATION
REGD NAME: Nissho
Electronics KK
MAIN OFFICE: Kojimachi
Mitsuba Bldg, 3-5 Nibancho Chiyodaku Tokyo 102-0084 JAPAN
Tel: 03-6272-5011 Fax: 03-3261-3336
*..
Moved to the caption address in Jul/2012 from the one as given, and registered
there at
URL: http://www.nissho-ele.co.jp
E-Mail address: info@nissho-ele.co.jp
Import, export, wholesale of electronic
products, computer systems
Osaka,
Nagoya, Sapporo, Sendai, Toyota, Shizuoka, Hiroshima, Fukuoka
USA,
China, Vietnam, Indonesia
YAHIRO
KAWAMURA, PRES Masahazu Okamura, ch
Fumio
Ohashi, ch Katsuhiko
Kobayashi, dir
Toshiaki
Kibe, dir Toshihiko
Kita, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 31,104 M
PAYMENTSNo Complaints CAPITAL Yen
14,336 M
TREND UP WORTH Yen 25,777 M
STARTED 1969 EMPLOYES 562
DEVELOPER OF COMPUTER SYSTEMS; WHOLESALE OF ELECTRONIC PRODUCTS,
OWNED BY SOJITZ CORP.
FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,386.3 MILLION, 30 DAYS NORMAL TERMS.
The subject company was established originally on the basis of
Electronics Div separated from Nissho Iwai Corp, which later in 2003 merged
with Nichimen Corp to become Sojitz Corp, and the subject became the subsidiary
of the Sojitz group. This is a
specialized trader of electronic products, core firm of Sojitz’s IT
business. Mainly engaged in import and
marketing of computers and peripherals.
Offers IT solution services, too.
Actively advancing into software development. Strong in network equipment. In 2005, succeeded the network business of
Kanematsu Communications Ltd. Broadening
new materials, mainly produced by foreign firms. Reinforcing data management-related staff
training following customer information leak in preceding term. In 2014, merged a sister company. Clients include telecommunications carriers,
network companies, other.
The
sales volume for Mar/2014 fiscal term amounted to Yen 31,104 million, a 10% up
from Yen 28,236 million in the previous term.
This is attributed to the said merger of a sister company. The recurring profit was posted at Yen 464
million and the net profit at Yen 351 million, respectively, compared with Yen
16 million recurring profit and Yen 778 million net losses, respectively, a
year ago.
For
the current term ending Mar 2015 the recurring profit is projected at Yen 475
million and the net profit at Yen 360 million, respectively, on a 3% rise in
turnover, to Yen 32,000 million.
Business is seen steadily expanding.
The
financial situation is considered FAIR and good for ORDINARY business engagements. Max
credit limit is estimated at Yen 1,386.3 million, on
30 days normal terms.
Date Registered: Feb 1969
Regd No.: 0100-01-053447
(Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 100 million shares
Issued:
36 shares
Sum: Yen
14,336 million
Major shareholders (%): Sojitz Corp*(70), Sumitomo
Corp (30)
No. of shareholders: 2
*.. Sojitz Corp, sixth ranked general trading house, Tokyo,
founded 2003, listed Tokyo S/E, capital Yen 160,339 million, sales Yen
4,046,577 million, operating profit Yen 23,694 million, recurring profit Yen
44,033 million, net profit Yen 32,083 million, total assets Yen 2,194,090
million, net worth Yen 465,900 million, employees 16,130, pres Yoji Sato
Nothing
detrimental is known as to the commercial morality of executives.
Related
companies: Next Gen Inc, IP City Corp, NGC Corp, Net Move Corp, Tech Matrix
Corp, other.
Activities:
Imports, exports and wholesales electronic products: solution services: enterprise
solutions, next generation carrier network solutions, IT infrastructure
solutions, other (--100%)
Clients:
[Mfrs, wholesalers] NTT Communications, Fujitsu Tokki Systems, Arteria Networks, K
Opticom Corp, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Jupiter Networks
International BV, Hewlett Packard Japan, Citrix Systems Japan, other.
Payment record: No Complaints
Location: Business area in Tokyo. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Tokyo)
Mizuho
Bank (Ginzadori)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
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32,000 |
31,104 |
28,236 |
33,339 |
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Recur.
Profit |
|
475 |
464 |
16 |
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Net
Profit |
|
360 |
351 |
-778 |
-45 |
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Total
Assets |
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|
38,184 |
36,646 |
36,857 |
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Current
Assets |
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25,351 |
22,000 |
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Current
Liabs |
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10,037 |
8,570 |
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Net
Worth |
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25,777 |
25,384 |
25,504 |
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Capital,
Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
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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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S.Growth Rate |
|
2.88 |
10.16 |
-15.31 |
-13.42 |
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Current Ratio |
|
.. |
252.58 |
256.71 |
.. |
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N.Worth Ratio |
|
.. |
67.51 |
69.27 |
69.20 |
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R.Profit/Sales |
|
1.48 |
1.49 |
0.06 |
.. |
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N.Profit/Sales |
|
1.13 |
1.13 |
-2.76 |
-0.13 |
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Return On Equity |
|
.. |
1.36 |
-3.06 |
-0.18 |
Notes:
Forecast figures for the 31/03/2015 Fiscal Term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.26 |
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|
1 |
Rs.96.01 |
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Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.