|
Report No. : |
299792 |
|
Report Date : |
15.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
HITACHI HIGH-TECHNOLOGIES CORPORATION |
|
|
|
|
Registered Office : |
Hitachi High-Tech Bldg., 1-24-14, Nishi-Shinbashi, Minato-Ku, Tokyo 105-0003
|
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
12.04.1947 |
|
|
|
|
Com. Reg. No.: |
0104-01-021648 |
|
|
|
|
Legal Form : |
Listed |
|
|
|
|
Line of Business : |
Manufacturer of Electronic Products and Components. |
|
|
|
|
No. of Employees : |
10,387 |
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 Limits : |
US$ 120 Million |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
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 |
HITACHI
HIGH-TECHNOLOGIES CORPORATION
Country: Japan
Company name: HITACHI
HIGH-TECHNOLOGIES CORPORATION
Name in local
language: HITACHI
HIGH-TECHNOLOGIES, K.K.
Office
address: Hitachi High-Tech Bldg., 1-24-14, Nishi-shinbashi,
Minato-ku,
Tokyo 105-0003
Office tel: 03-3504-7111
Website: www.hitachi-hitec.com/
Business type: Manufacturer
Industry: Electronic
Products & Components
Established: April
12, 1947
Capital: Jp.
7,938,480,525 yen
Employees: 10,387
(as of September 30, 2014, consolidated)
Corporate
formation: Listed
Corporation No.: 0104-01-021648 (Tokyo
Legal Affairs Bureau)
As of March 31,
2014:
Paid in capital : Jp.
7,938,480,525 yen
Number of
authorized shares : 350,000,000
shares
Number of
outstanding shares : 137,738,730
shares
Number of
shareholders : 6,290
Major shareholders Number of shares (%)
----------------------------------------------------------------------------------------------------------------
Hitachi
Limited 71,135,619 shares
(51.64)
Master Trust Bank
of Japan, Ltd. 5,236,600 shares ( 3.80)
Japan Trustee
Services Bank, Ltd.(trust unit) 4,606,100 shares ( 3.34)
Employees
Shareholders Fund 2,131,478 shares ( 1.54)
Nomura Lux Multi
Currency(Luxembourg) 1,758,900 shares ( 1.27)
The Bank of New
York(Belgium) 1,338,613 shares ( 0.97)
CMBL SA
Ltd.(UK) 1,268,300 shares ( 0.92)
Trust & Custody
Bank of Japan, Ltd. 1,250,000 shares (0.90)
Japan Trustee
Services Bank, Ltd.(trust unit #1)
1,247,900 shares ( 0.90)
Japan Trustee
Services Bank, Ltd. (trust unit #6)
1,191,900 shares (0.86)
----------------------------------------------------------------------------------------------------------------
Total 91,165,410 shares
(66.19)
Activity Product/Service
Description
-------------------------------------------------------------------------------
Manufacturing Equipment
for electronic devices & systems
Manufacturing Equipment
for fine technology devices & systems
Manufacturing Measuring
devices for scientific and medical applications
Manufacturing Assembly
systems & other industrial and IT equipment
Manufacturing Advance
materials
Service Design,
Installation and maintenance services
Brands & Trade marks
====================
Hitachi High-Tech
Chairman Mr. KAZUHIRO MORI
Nationality: Japan
Director Mr. MASAO HISADA
Nationality: Japan
Director Mr. YOSHIKAZU OHRAKU
Nationality: Japan
Director Mr. HIDEYO HAYAKAWA
Nationality: Japan
Director Mr. HIROMICHI TODA
Nationality: Japan
Director Mr. TOYOAKI NAKAMURA
Nationality: Japan
Note: The names of
director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
=============
Mr. Masao Hisada
Representative
executive officer & president since April 2011
Born on December
16, 1948
Business career:
Apr. 1972: Employed by Hitachi Limited
Feb. 2004: President of Hitachi America, Inc.
Apr. 2007: Managing director of Hitachi
Limited.
Apr. 2010: Vice
president of the subject.
Currency: (local currency - Jp. yen)
------------------------------------------------------------------------------
Year
| Sales | Net Income
------------------------------------------------------------------------------
|
2009 |
774,950,000,000 |
7,075,000,000 |
|
2010 |
616,877,000,000 |
loss
2,827,000,000 |
|
2011 |
653,431,000,000 |
17,752,000,000 |
|
2012 |
645,865,000,000 |
14,265,000,000 |
|
2013 |
575,468,000,000 |
12,166,000,000 |
|
2014 |
639,116,000,000 |
18,032,000,000 |
*Book Closing*
============
March 31st
*Financials*
==========
|
Consolidated Balance Sheet |
|
|
|
|
Unit: millions of Jp yen |
|
|
|
|
|
03/31/2012 |
03/31/2013 |
03/31/2014 |
|
Current assets |
353,765 |
330,623 |
377,031 |
|
Cash
& deposits |
23,293 |
21,088 |
22,548 |
|
Accounts receivable |
130,038 |
110,722 |
135,067 |
|
Inventory |
68,562 |
70,250 |
75,166 |
|
Deferred tax assets |
8,927 |
9,453 |
9,974 |
|
Deposits at affiliates receivable
|
98,831 |
97,041 |
112,139 |
|
Others |
24,114 |
22,069 |
22,137 |
|
Fixed assets
|
88,397 |
103,016 |
117,903 |
|
Tangible fixed assets |
59,685 |
66,331 |
75,110 |
|
Intangible fixed assets |
6,275 |
13,956 |
12,993 |
|
Investment & others |
22,437 |
22,729 |
29,800 |
|
Total Assets |
442,162 |
433,639 |
494,934 |
|
|
|
|
|
|
Current liabilities |
161,545 |
137,265 |
170,891 |
|
Accounts payable |
105,484 |
84,426 |
105,683 |
|
Short-term loans |
0 |
1,650 |
0 |
|
Outstanding taxes |
8,489 |
3,572 |
8,069 |
|
Outstanding
expenses |
18,175 |
17,268 |
19,822 |
|
Received in advance payable |
11,532 |
10,188 |
21,048 |
|
Others |
17,865 |
20,161 |
16269 |
|
Fixed liabilities |
27,605 |
29,185 |
51,076 |
|
Retirement benefits |
26,865 |
26,767 |
49,527 |
|
Others |
740 |
2,418 |
1,549 |
|
Shareholders' equity |
254,416 |
263,830 |
276,751 |
|
Paid up
capital |
7,938 |
7,938 |
7,938 |
|
Capital
reserves |
35,745 |
35,745 |
35,745 |
|
Retained
earnings |
211,059 |
220,474 |
233,402 |
|
Treasury stock |
-326 |
-327 |
-334 |
|
Adjustment & others |
-1,642 |
2,968 |
-4,293 |
|
Minority interest |
237 |
392 |
511 |
|
Total Net Assets |
253,012 |
267,189 |
272,968 |
|
Total Liabilities & Net Assets |
442,162 |
433,639 |
494,934 |
|
|
|
|
|
|
|
|
|
|
|
Consolidated Income Statement |
|
|
|
|
Unit: millions of Jp yen |
|
|
|
|
|
03/31/2012 |
03/31/2013 |
03/31/2014 |
|
Sales |
645,865 |
575,468 |
639,116 |
|
Cost of goods sold |
532,894 |
470,599 |
515,752 |
|
Gross profit(loss) |
112,971 |
104,868 |
123,364 |
|
Selling. general & admin. expenses |
87,512 |
85,917 |
92,933 |
|
Operating profit(loss) |
25,459 |
18,951 |
30,431 |
|
Non operating income |
1,625 |
1,844 |
1,452 |
|
Non operating expenses |
852 |
698 |
781 |
|
Ordinary profit(loss) |
26,233 |
20,098 |
31,102 |
|
Special profit |
6,171 |
1,025 |
4 |
|
Special loss |
4,090 |
4,156 |
3,127 |
|
Pretax profit(loss) |
28,314 |
16,967 |
27,979 |
|
Provision(returns) for taxes |
13,952 |
4,639 |
9,649 |
|
Minority interest |
98 |
162 |
299 |
|
Net profit(loss) |
14,265 |
12,166 |
18,032 |
|
|
|
|
|
*Latest Financials *
================
On October 23,
2014, the subject released the following business results and forecast:
As of September 30,
2014(2Q Mar. 2015 term)
Unit: millions of
PY
|
Year term |
Sales |
Operating
profit |
Ordinary
profit |
Net
profit |
|
2Q 2014
|
290,669 |
6,307 |
6,634 |
3,589 |
|
2Q 2015
|
313,492 |
22,254 |
21,588 |
15,121 |
|
FY 2015 (F)
|
650,000 |
38,500 |
37,700 |
25,600 |
|
Current assets; |
383,502 |
|
Fixed assets; |
118,743 |
|
Total assets; |
502,245 |
|
Current liabilities; |
162,568 |
|
Fixed liabilities; |
50,685 |
|
Total liabilities; |
213,253 |
|
Shareholders’ equity; |
289,118 |
|
Retained
earnings; |
245,772 |
|
Total net assets; |
288,992 |
|
Total liabilities and net assets; |
502,245 |
*Bank Details*
============
Bank Name: Mizuho Bank, Ltd.
Branch: Shinbashi
Bank Name: Bank of Tokyo-Mitsubishi UFJ, Ltd.
Branch: Shinbashi
Bank Name: Sumitomo Mitsui Banking Corp.
Branch: Hibiya
*Credit Opinion*
=============
Subject originally
started as a trading firm but now acting as a manufacturer of measuring and
semiconductor-making equipment etc.
While semiconductor-related
business has been slow, medical systems in China and USA have been supporting
the whole performance.
Fine tech system
reached a break-even point.
Further growth of
medical systems and rebounding semiconductor-related business are expected to
boost the performance for Mar. 2016 term.
Unprofitable
business of chip-mounter will be sold to Yamaha Motor Corp.
The subject is
known for self-financing.
Negative factors
are not observed in particular at present.
Our standard
suggestion would be up to US$ 120 million on terms of 90 days.
Branch name: HOKKAIDO - SAPPORO-SHI
----------------------------------------------------------------------------------------------------
Branch name: GOSHOGAWARA – AOMORI PREFECTURE
----------------------------------------------------------------------------------------------------
Branch name: TOHOKU - SENDAI-SHI
----------------------------------------------------------------------------------------------------
Branch name: NAKA – IBARAKI PREFECTURE
----------------------------------------------------------------------------------------------------
Branch name: IBARAKI - HITACHI-SHI
----------------------------------------------------------------------------------------------------
Branch name: HITACHI-NAKA - HITACHINAKA-SHI
----------------------------------------------------------------------------------------------------
Branch name: TOCHIGI – TOCHIGI PREFECTURE
----------------------------------------------------------------------------------------------------
Branch name: SAITAMA - SAITAMA PREFECTURE
----------------------------------------------------------------------------------------------------
Branch name: TOKYO TECHNICAL CENTER - TOKYO
----------------------------------------------------------------------------------------------------
Branch name: TOKYO SOLUTION LABO -
KAWASAKI-SHI
----------------------------------------------------------------------------------------------------
Branch name: HINO - HINO-SHI
----------------------------------------------------------------------------------------------------
Branch name: FUJISAWA - FUJISAWA-SHI
------------------------------------------------------------------------------------------
Branch name: CHUBU - NAGOYA-SHI
----------------------------------------------------------------------------------------------------
Branch name: YOKKAICHI - YOKKAICHI-SHI
----------------------------------------------------------------------------------------------------
Branch name: KANSAI - OSAKA-SHI
----------------------------------------------------------------------------------------------------
Branch name: KANSAI APP LLABO - OSAKA-SHI
----------------------------------------------------------------------------------------------------
Branch name: KASADO - SHIMOMATSU-SHI
----------------------------------------------------------------------------------------------------
Branch name: KYUSHU - FUKUOKA-SHI
----------------------------------------------------------------------------------------------------
Branch name: OHMUTA CENTER – OHMUTA-SHI
*Main Business*
==============
Development,
manufacture, sales and maintenance of the following systems and equipment:
Electronic devices systems
- Semiconductor
manufacturing equipment
Fine technology
systems
- Fine technology
systems
Science &
medical systems
- Life science
-
TEM/SEM/FIB/Nano-probing system
Industrial & IT
systems
- Industrial &
IT systems
Advanced industrial
products
- Advance
industrial products
Service
- Installation and
maintenance
- Semiconductor
manufacturing equipment
- Electron
microscopes
- Analytical
equipment
- Instrumental
equipment-related products
For Mar. 2014:
-
Electronic
devices (18%)
-
Fine
technology (3%)
-
Science
and medical (23%)
-
Industrial
& IT (14%)
-
Advanced
materials (41%)
Overseas business
(58%)
*Address*
=========
The registered
address is same as that of the operational head office.
*Company History*
================
Date
Development
---------------------------------------------------------------------------
April 1947 Established in Chuo-ku, Tokyo, as Hinode
Shokai Co., Ltd.
October 1947 Company name changed to Nissei Sangyo
May 1960 New York branch office opened (now
Hitachi High-Technologies America,
Inc.)
July 1960 Dusseldorf branch office opened (now
Hitachi High-Technologies Europe
GmbH)
September 1962 The
San Paulo liaison office (now Hitachi High-Technologies do Brasil Ltda.)
is established.
March 1964 Hong Kong representative office opened
(now Hitachi High-Technologies
Hong Kong Ltd.)
April 1965 Hitachi Instruments Service Co., Ltd.
Established(now Hitachi High-Tech
Fielding Corporation)
October 1971 Company listed on the Second Section of the
Tokyo Stock Exchange
March 1972 Singapore branch office opened (now
Hitachi High-Technologies (Singapore)
Pte. Ltd.)
April 1972 Nissei Oil Sales Co., Ltd. established
(now Hitachi High-Tech Materials
Corp.)
May 1972 Nissei Sangyo Brazil established (now
Hitachi High-Technologies do Brasil
Ltda.) France S.A.R.L.)
October 1972 Company listed on the Second Section of the
Osaka Securities Exchange
July 1973 Nissei Electronics Co., Ltd.
Established (now Hitachi High-Tech Trading
Corp.)
August 1978 Nissei Sangyo France S.A.R.L. established
(now Hitachi High-Technologies
France S.A.R.L.)
April 1980 Nissei Sangyo Canada, Inc. established
(now Hitachi High-Technologies
Canada, Inc.)
September 1983 The Company lists on the First
Section of the Tokyo Stock Exchange and
Osaka Securities
Exchange.
October 1983 Nissei Software, Inc. (now Hitachi High-Tech
Solutions Corporation) is
established.
April 1987 Nissei Service Inc. established (now
Hitachi High-Tech Support Corp.)
October 1987 Nissei Engineering Co., Ltd. established (now
Hitachi High-Tech Trading
Corp.)
January 1992 Nissei Sangyo Malaysia Sdn. Bhd. established
(now Hitachi
High-Technologies
IPC(Malaysia) Sdn. Bhd.)
January 1994 Nissei Sangyo Thailand Ltd. established (now
Hitachi High-Technologies
(Thailand) Ltd.)
October 1994 Nissei Sangyo Shanghai Co., Ltd. established
(now Hitachi
High-Technologies
(Shanghai) Co., Ltd.)
March 1994 Nissei Sanyo service Pte. Ltd.(now Hitachi
High-Tech Instruments service
(Asia) PTE. Ltd.)
October 2001 Company name changed to Hitachi
High-Technologies Corp. following the
integration of Hitachi's
Instruments Group and Semiconductor
Manufacturing Equipment
Group; Hitachi Science Systems, Ltd., Hitachi
Naka Electronics Co.,
Ltd. and Naka Instruments Co., Ltd. (now Hitachi
High-Tech Manufacturing
& Service Corp.) made subsidiaries
January 2002 Nissei Sangyo Trading (Shenzhen) Co., Ltd.
established (now Hitachi
High-Technologies
(Shenzhen) Co., Ltd.)
March 2002 Giesecke & Devrient established
April 2003 SANYO High Technology Co., Ltd. (now
Hitachi High-Tech Instruments Co.,
Ltd.) and SANYO
High-Tech Service Co., Ltd. (now Hitachi High-Tech
Instruments Service Co.,
Ltd.) made subsidiaries
June 2003 Corporate shift to “committee-based”
organizational model.
March 2004 Hitachi Electronics Engineering Co., Ltd.
made a subsidiary (Hitachi
High-Tech Electronics
Engineering Co., Ltd.)
April 2004 Hitachi High-Tech Trading Corporation
Established
July 2004 Hitachi High-Tech Manufacturing &
Service Corp. Established
April 2005 Nissei Science, Ltd. absorbed by Hitachi
High-Technologies Corp.
April 2005 Hitachi High-Technologies Korea Co.,
Ltd. Established
May 2005 Hitachi High-Technologies (China) Co.,
Ltd. Established
September 2005
Hitachi High-Technologies Taiwan Corporation Established
April 2006 Hitachi High-Tech Electronics
Engineering Co., Ltd. absorbed by Hitachi
High-Technologies Corp.
April 2007 Hitachi High-Tech Science Systems Corp.
absorbed by Hitachi
High-Technologies Corp.
June 2007 Hitachi High Tech DE Technology name
changed to Hitachi High-Tech
Engineering Service
Corporation
April 2010 Hitachi High-Tech Instruments Co., Ltd.
Merged Semiconductor
manufacturing equipment
business of Renesas Eastern Japan
Semiconductor, Inc.
March 2011 Hitachi High-Technologies (China) Co.,
Ltd. absorbed by Hitachi
High-Technologies(Shanghai)
Co., Ltd.
*Suppliers*
=========
Shinetsu Chemical
Industry
Casio Computer
Asahi Glass
Hitachi Global
Storage Technologies(Japan & Singapore)
Censorta
Technologies Japan
Toyo Aluminum
Renesas Electronics
Hitachi Maxcel
Eastern
*Customers*
==========
Samsung Japan
Hitachi Limited
Renesas Electronics
Panasonic Corp.
Taiwan
Semiconductor Mfg.
Hinix Semiconductor
Japan
Dai Nippon Printing
Hitachi Appliances
Panasonic LCD
Hitachi Displays
*Major subsidiaries & affiliates*
=========================
Domestic:
- Hitachi High Tech
Solutions
- Hitachi High Tech
Materials
- Hitachi High Tech
Support
- Hitachi High Tech
Fielding
- Hitachi High Tech
Engineering Service
- Hitachi High Tech
Control Systems
- Hitachi High Tech
Manufacture & Service
- Hitachi High tech
Instruments
Overseas:
- Hitachi High
Technologies America, Inc.
- Hitachi
High-Technologies Canada, Inc.
- Hitachi
High-Technologies do Brasil Ltda.
- Hitachi
High-Technologies Europe GmbH
- Hitachi High
Technologies Ireland Limited
- H.H.T.A.
Semiconductor Equipment Israel, Ltd.
- Hitachi
High-Technologies(Singapore) Pte. Ltd.
- Hitachi
High-Technologies IPC(Malaysia) Sdn. Bhd.
- Hitachi
High-Technologies (Thailand) Ltd.
- PT. Hitachi
High-technologies Indonesia
- Hitachi
High-Technologies(Shanghai) Co., Ltd.
- Hitachi
High-Technologies Hong Kong Limited
- Hitachi
High-Technologies(Shenzhen) Co., Ltd.
- Hitachi
High-Technologies Korea Co., Ltd.
- Hitachi
High-Technologies Taiwan Corporation
- Hitachi
Instrument (Suzhou), Ltd.
- Hitachi
Instrument (Dalian) Co., Ltd.
As of March 31,
2014 the subject owns and controls a total of 31 subsidiaries and one affiliate
at home and abroad.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.24 |
|
Euro |
1 |
Rs.73.30 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
|
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.