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Report No. : |
331856 |
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Report Date : |
10.07.2015 |
IDENTIFICATION DETAILS
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Name : |
SONY MOBILE COMMUNICATIONS INC |
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Registered Office : |
SW Bldg, 1-8-15 Konan Minatoku Tokyo 108-0075 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
Oct., 2001 |
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Com. Reg. No.: |
0104-01-045660 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export, Wholesale of Mobile Phones, Mobile
Pc Terminals, Other. |
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No. of Employees : |
250 (About) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 7,342.1 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 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.
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Source
: CIA |
SONY MOBILE COMMUNICATIONS INC
REGD NAME: Sony
Mobile Communications KK
MAIN OFFICE: SW
Bldg, 1-8-15 Konan Minatoku Tokyo 108-0075 JAPAN
Tel: 03—5782-5411
URL: http://www.sonymobile.co.jp
E-Mail address: (thru the URL)
Export, wholesale
of mobile phones, mobile PC terminals, other
Nil
Worldwide
(utilizing Sony Corp’s overseas subsidiaries/agents)
Group firms
KUNIMASA SUZUKI,
PRES Yoshihisa Ishida, ch
Naoto Ishibashi,
dir Kazuhiko Takeda, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 317,403 M
PAYMENTSREGULAR CAPITAL Yen
3,000 M
TREND UP WORTH Yen 18,134 M
STARTED 2001 EMPLOYES 250 (about)
TRADING FIRM SPECIALIZING IN MOBILE PHONES, OWNED
BY SONY CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 7,342.1 MILLION, ON 30 DAYS NORMAL TERMS.
The subject
company was established jointly by Sony Corp and Ericsson (Sweden), and in Feb
2012 became a 100% subsidiary of Sony Corp (See REGISTRATION). A trading company
for export and wholesale of mobile phones, mobile PC terminals, mobile
communication equipment, other. Goods
are sold online to domestic and overseas markets (utilizing Sony Corp’s
overseas offices). Clients include
telecommunications firms, phone companies, other, nationwide.
The sales volume
for Mar/2014 fiscal term amounted to Yen 317,403 million, a 30% up from Yen
244,055 million in the previous term.
Sales of mobile phones, smartphones, others were robust, particularly
for exports. The recurring profit was
posted at Yen 10,195 million and the net profit at Yen 6,345 million,
respectively, compared with Yen 8,593 million recurring profit and Yen 5,476
million net profit, respectively, a year ago.
For the term that
ended Mar 2015 the recurring profit was projected at Yen 10,700 million and the
net profit at Yen 6,450 million, respectively, on a 5% rise in turnover, to Yen
333,200 million. Final results are yet
to be released.
The financial
situation is considered FAIR and
good for ORDINARY business engagements. Max credit limit is estimated at Yen
7,342.1 million, on 30 days normal terms.
Date Registered: Oct
2001
Regd No.:
0104-01-045660 (Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued: 60,000 shares
Sum: Yen 3,000 million
Major
shareholders (%): Sony Corp* (100)
*.. Globally renowned
mfr of audio & video equipment, Tokyo, founded 1946, listed Tokyo & New
York S/E’s, capital Yen 707,038 million, sales Yen 8,215,880 million, operating
profit Yen 68,548 million, recurring profit Yen 39,729 million, net loss Yen
125,980 million, total assets Yen 15,834,331 million, net worth Yen 2,317,007
million, employees 131,700, pres
Kazuo Hirai
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports and
wholesales audio 6 video equipment: mobile phones, smartphones, mobile PC
terminals, application service provider, other (--100%)
Clients: [Mfrs,
wholesalers] NTT DoCoMo Inc, KDDI, Okinawa Cellular Phone, Y Mobile Corp,
other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sony EMCS, Sony Mobile Communications AB, other Sony Group firms
Payment
record: Regular
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactory.
Bank References:
SMBC (H/O)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual
Sales |
|
333,200 |
317,403 |
244,055 |
38,436 |
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Recur.
Profit |
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10,700 |
10,195 |
8,595 |
2,828 |
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Net
Profit |
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6,450 |
6,345 |
5,476 |
1,049 |
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Total
Assets |
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|
64,080 |
72,594 |
61,583 |
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Current
Assets |
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58,884 |
67,678 |
56,153 |
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Current
Liabs |
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42,652 |
57,988 |
53,062 |
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Net
Worth |
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18,134 |
11,789 |
6,313 |
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Capital,
Paid-Up |
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|
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 |
|
4.98 |
30.05 |
58.74 |
-20.44 |
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Current Ratio |
|
.. |
138.06 |
116.71 |
105.83 |
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N.Worth Ratio |
|
.. |
28.30 |
16.24 |
10.25 |
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R.Profit/Sales |
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3.21 |
3.21 |
3.52 |
7.36 |
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N.Profit/Sales |
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1.94 |
2.00 |
2.24 |
2.73 |
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Return On Equity |
|
.. |
34.99 |
46.45 |
16.62 |
Notes: Forecast (or estimated) figures for the
31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.51 |
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|
1 |
Rs.97.85 |
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Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.