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Report No. : |
299827 |
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Report Date : |
13.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SEN CORPORATION |
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Registered Office : |
Think Park Tower, 2-1-1, Osaki, Shinagawa-ku, Tokyo 141-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
01.04.1983 |
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Com. Reg. No.: |
0107-01-022818 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer of Machinery. |
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No. of Employee : |
318 |
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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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
SEN CORPORATION
========
Country: Japan
Company name: SEN CORPORATION
Name in local language: SEN,
K.K. (株式会社ＳＥＮ)
Office address: Think Park Tower,
2-1-1, Osaki, Shinagawa-ku, Tokyo 141-0032
Office tel: 03-6737-2690
Website: www.senova.co.jp
Business type: Manufacturer
Industry: Machinery
Established: April 1, 1983
Capital: Jp.
480,000,000 yen
Employees: 318
Corporate formation: Private
Corporation No.: 0107-01-022818
(Tokyo Legal Affairs Bureau)
Paid in capital : Jp.
480,000,000 yen
Number of authorized shares : 20,000
shares
Shares issued : 12,000
shares
Number of shareholder : 1
Sumitomo Heavy Industries, Ltd. holds 100 percent.
Activity Product/Service
Description
-------------------------------------------------------------------------------
Manufacturing Implantation system
President Mr. Junichi Murakami
Nationality: Japan
Director Mr.
Kazuyoshi Ueno
Nationality: Japan
Nationality: Japan
Director Mr.
Kunimitsu Tsukihara
Nationality: Japan
Auditor Mr. Takeshi Ogasawara
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Junichi Murakami
President and representative director since April 2014
Born on September 17, 1950
Home address: 486-8, Kitadai, Saijo-shi, Ehime pref.
Currency: (local currency - Jp. yen)
-------------------------------------------------------------------------------------
Year |
Sales | Net Income
-------------------------------------------------------------------------------------
|
2008 |
22,430,000,000 |
1,089,000,000 |
|
2009 |
11,577,000,000 |
loss 2,595,000,000 |
|
2010 |
6,312,000,000 |
loss 1,617,000,000 |
|
2011 |
11,689,000,000 |
541,000,000 |
|
2012 |
10,801,000,000 |
577,000,000 |
|
2013 |
12,020,000,000 |
928,000,000 |
|
2014 |
10,269,000,000 |
133,000,000 |
=====================
*Book Closing*
============
March 31st
*Financials*
==========
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Balance Sheet |
|||
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Unit: millions of JP yen |
|||
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|
3/31/2012 |
3/31/2013 |
3/31/2014 |
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Current assets |
14,040 |
12,166 |
14,693 |
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Fixed assets |
8,728 |
11,321 |
6,130 |
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Tangible assets |
1,191 |
1,867 |
2,804 |
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Intangible assets |
1,061 |
843 |
625 |
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Investments & others |
6,474 |
8,610 |
2,700 |
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Total Assets |
22,768 |
23,487 |
20,824 |
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Current liabilities |
2,913 |
2,866 |
2,874 |
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Fixed liabilities |
631 |
700 |
766 |
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Retirement benefits |
631 |
700 |
766 |
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Shareholders' equity |
19,223 |
19,920 |
17,183 |
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Paid up capital |
480 |
480 |
480 |
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Capital reserves |
120 |
120 |
120 |
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Retained earnings |
18,623 |
19,320 |
16,583 |
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Total Net Assets |
19,223 |
19,920 |
17,183 |
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Total Liabilities & Net
Assets |
22,768 |
23,487 |
20,824 |
|
Income Statement |
|||
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Unit : millions of JP yen |
|||
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|
3/31/2012 |
3/31/2013 |
3/31/2014 |
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Sales |
10,801 |
12,020 |
10,269 |
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Cost of goods sold |
6,782 |
8,081 |
6,533 |
|
Gross profit(loss) |
4,018 |
3,939 |
3,736 |
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Sales/administrative expenses |
3,188 |
3,241 |
3,690 |
|
Operating profit(loss) |
829 |
697 |
45 |
|
Non operating income |
162 |
196 |
196 |
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Non operating expenses |
84 |
118 |
70 |
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Ordinary profit(loss) |
908 |
775 |
171 |
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Special profits |
0 |
0 |
0 |
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Special losses |
155 |
0 |
0 |
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Pretax profit |
752 |
775 |
171 |
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Taxes & adjustment |
175 |
-153 |
37 |
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Net profit |
577 |
928 |
134 |
Bank Name : Sumitomo Mitsui
Banking Corp.
Branch : Tokyo business
banking department
Bank Name : Sumitomo Mitsui
Trust Bank, Ltd.
Branch : Head office
business banking department
Bank Name : Iyo Bank, Ltd.
Branch : Tokyo
Subject is a subsidiary of Sumitomo Heavy Industries, Ltd., a public
listed corporation(#6302 of the TSE, and a major player in the sphere of heavy
machines.
After a tough period of the Lehman Shock, the subject has been
recovering its performance though the sales level has not reached those past
heydays.
The parent carries JPY 230,811 million of retained earnings as of
September 30, 2014 as it posted a record high sales for Mar. 2014 term.
Negative factors are not observed in particular at present.
Our standard suggestion would be up to US$ 7 million on terms of 90
days.
Branch name: Kansai business division
Branch address: Nakanoshima, Kita-ku, Osaka-shi
----------------------------------------------------------------------------------------------------
Customer support center: Saijo-shi, Ehime pref.
Six service centers:
Nishi-Tokyo, Yokkaichi, Saijo, Masuki-gun(Kumamoto pref.), Toyama,
Kitagami cities
Three service stations: Tsuruoka, Oita and Isahaya cities
*Main Products
& Services*
======================
Development, manufacture, sales and technical support of the following
machines and equipment:
-
High
current ion implantation system
-
Medium
current ion implantation system
-
High
energy ion implantation system
-
Ion
implantation system for FPD
Ehime facility: Saijo-shi, Ehime pref.
*Address*
Registered address is the same as the operational address.
Date Development
-----------------------------------------------------------------------------------------------
April 1, 1983 Incorporated as a joint venture between
Sumitomo Heavy Industries,
Ltd.(50%) and Eton
Corp., USA(50%)
1997 Started importing some machines from Eton
Corp.
1999 ISO9001 certified.
2000 Sumitomo Heavy Industries, Ltd. took over all
the shares as
Eton changed its
business structure and founded “Acceris Inc.
Technology
transfer to Acceris Inc.
2002 ISO14001 certified.
2006 Renamed as “SEN Acceris Co.”
2009 Took the current company name.
October 1, 2009 Relocated to the current address from the
following:
4-10-1, Yoga,
Setagaya-ku, Tokyo
*Suppliers*
==========
Sumitomo Heavy Industries, Ltd.
Advantec Corp.
Ibiden Corp.
*Customers*
==========
Toshiba Corp.
Canon Inc.
Panasonic Corp.
SONY Corp.
Renesas Electronics Corp.
Mitsubishi Electric Corp.
Manufacturers of semiconductor abroad
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
|
|
1 |
Rs.94.28 |
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Euro |
1 |
Rs.73.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
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Report Prepared
by : |
ANK |
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.