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Report No. : |
304402 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SI SOLAR CO LTD |
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Registered Office : |
No.2 Koura Bldg 4F, 1-1-8 Nihombashi-Kayabacho Chuoku Tokyo 103-0025 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2014 |
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Date of Incorporation : |
August, 2012 |
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Com. Reg. No.: |
0100-01-148739 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of Solar Systems |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
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 |
SI SOLAR CO LTD
REGD NAME: KK SI Solar
MAIN OFFICE: No.2 Koura Bldg
4F, 1-1-8 Nihombashi-Kayabacho Chuoku Tokyo 103-0025
JAPAN
Tel: 03-5642-3733
URL: http://www.sisolar.jp
E-Mail address: (thru the URL)
Wholesale of solar
systems
Okayama
HIROAKI ISHIHARA,
PRES Takeshi Yoda, ch
Ryuichiro Yao, rep
dir Takayoshi Yamamoto, mgn
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,884 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 50 M
TREND UP WORTH Yen 394 M
STARTED 2012 EMPLOYES 20
TRADING FIRM SPECIALIZING IN SOLAR SYSTEMS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established on the basis of a division separated from Ishin
Holdings Inc, housing franchiser, Okayama (See REGISTRATION). Hiroaki Ishihara
is concurrently pres at the parent. This is a trading firm specializing in solar systems. Goods are traded
well thru the parent channels.
The sales volume for the initial accounting
term ended Aug/2013 fiscal term amounted to Yen 3,884 million, with recurring
profit posted at Yen 615 million and the net profit at Yen 344 million. Sales fared well thru the parent to housing
makers, individual houses, etc.
For the term that ended Aug 2014 the recurring profit was projected at
Yen 650 million and the net profit at Yen 380 million, respectively, on a 9%
rise in turnover, to Yen 4,250 million.
Sales of solar systems increased.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Aug 2012
Regd No.:
0100-01-148739
(Tokyo-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4,000
shares
Issued: 1,000
shares
Sum: Yen
50 million
Major
shareholders (%): Ishin Holdings Inc* (70), Takeshi Yoda (30)
No. of shareholders: 2
*.. Ishin Holdings Inc, housing franchiser, Okayama, founded 1990,
capital Yen 99,000 million, sales Yen 8,486 million, net profit Yen 486
million, employees 22, pres Hiroaki Ishihara, concurrently
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Wholesales solar systems, attachments,
other (--100%)
Clients: [Mfrs, wholesalers] Ishin Holdings
Inc, World Brains, other
No. of accounts: 5
(Direct clients)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] AU Optronics, SMA,
Sun Power, World Brains, KK Nissei, Uehara Co, Itaya Metal Ind, Yoshitec Co, Puretec Co, other,
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References:
Chugoku Bank
(Tsuyama-Kita)
MUFG (Okayama)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/08/2014 |
31/08/2013 |
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Annual
Sales |
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4,250 |
3,884 |
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Recur.
Profit |
|
650 |
615 |
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Net
Profit |
|
380 |
344 |
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Total
Assets |
|
|
1,481 |
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Current
Assets |
|
|
1,474 |
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Current
Liabs |
|
|
992 |
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Net
Worth |
|
|
394 |
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Capital,
Paid-Up |
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|
50 |
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Div.P.Share(¥) |
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|
0.00 |
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<Analytical Data> |
(%) |
(%) |
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S.Growth Rate |
9.42 |
- - - |
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Current Ratio |
.. |
148.59 |
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N.Worth Ratio |
.. |
26.60 |
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R.Profit/Sales |
15.29 |
15.83 |
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N.Profit/Sales |
8.94 |
8.86 |
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Return On Equity |
.. |
87.31 |
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Notes: The
31/08/2013 term is the initial accounting term from the inception.
Forecast (or estimated)
figures for the 31/08/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.93.27 |
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Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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 |
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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.