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Report No. : |
331667 |
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Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
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Name : |
ENATEK LTD |
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Registered Office : |
Kudan With Bldg 7F, 1-4-1 Iidabashi Chiyodaku Tokyo 102-0072 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
March,
1978 |
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Com. Reg. No.: |
0100-01-012236
(Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import,
Export and Wholesale of Silicon Wafers, Semiconductor Devices, Solar Cell. |
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No. of Employees : |
10 |
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 : |
Slow but correct |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times since 2008.
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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 2014 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. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
ENATEK LTD
REGD NAME: KK
Enatek
MAIN OFFICE: Kudan
With Bldg 7F, 1-4-1 Iidabashi Chiyodaku Tokyo 102-0072 JAPAN
Tel: 03-3262-4296 Fax: 03-3262-4048
E-Mail address: info@enatek.co.jp
Import,
export, wholesale of silicon wafers, semiconductor devices, solar cell
Osaka,
Narita, Saga
TAKUJI
SHIMIZU, PRES
Iwao
Shimizu, ch
Kazuo
Fukumura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 420 M
PAYMENTSSLOW
BUT CORRECT CAPITAL Yen 90 M
TREND STEADY WORTH Yen 249 M
STARTED 1978 EMPLOYES 10
TRADING FIRM SPECIALIZING IN
SEMICONDUCTOR DEVICES.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
This
is a trading firm, founded by Iwao Shimizu, for import, export and wholesale of
silicon wafers, semiconductor mfg devices, solar cells, electronic products,
other. Takuji is his son, who took the
pres office in Mar 2008. Clients include
major electronic mfrs, wholesalers, other.
Financials
are disclosed only partially.
The sales
volume for Dec/2014 fiscal term amounted to Yen 420 million, a 5% up from
Yen
400 million in the previous term. The net profit was posted at Yen 4 million,
similarly in the previous term.
For
the current term ending Dec 2015 the net profit is projected at Yen 5 million,
on a 5% rise in turnover, to Yen 440 million.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements.
Date Registered: Mar 1978
Regd No.: 0100-01-012236 (Tokyo-Chiyodaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
720,000 shares
Issued:
180,000 shares
Sum: Yen 90 million
Major shareholders (%): Iwao
Shimizu (47.2), Kazuo Fukumura (33.6), Masako Shimizu (8.4)
No. of shareholders: 7
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Imports, exports and wholesales
silicon wafers, semiconductor devices, solar cells, other (--100%)
Clients: [Mfrs, wholesalers] Tokyo Electron
Ltd, Tokyo Electron Yamanashi, Tokyo Electron Kyushu, Panasonic Corp (10%),
Rohm Waco Co, Nikon, other
No. of
accounts: 250
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sumco, Sumco
Technology, Akita Silicon, Honda Tsushin Kogyo (HTK), Global Wafers Japan,
other
Payment record: Slow
but correct
Location:
Business area in Tokyo. Office premises at the caption address are leased and
maintained satisfactorily.
Bank References:
MUFG (Jimbocho)
SMBC (Kojimachi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
Annual
Sales |
|
440 |
420 |
400 |
450 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
5 |
4 |
4 |
-10 |
|
Total
Assets |
|
|
N/A |
307 |
301 |
|
Net
Worth |
|
|
249 |
248 |
247 |
|
Capital,
Paid-Up |
|
|
90 |
90 |
90 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.76 |
5.00 |
-11.11 |
-31.92 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
80.78 |
82.06 |
|
N.Profit/Sales |
|
1.14 |
0.95 |
1.00 |
-2.22 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.98.22 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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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 |
|
|
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.