MIRA INFORM REPORT
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Report No. : |
332778 |
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Report Date : |
21.07.2015 |
IDENTIFICATION DETAILS
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Name : |
HOYA CANDEO OPTRONICS CORPORATION |
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Registered Office : |
3-5-24 Hikawacho Toda Saitama-Pref 335-0027 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
October 1988 |
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Com. Reg. No.: |
0300-01-021636 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is manufacturer of optical laser, UV & electro-optical (EO) glass equipment, other |
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No. of Employee : |
96 |
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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Maximum Credit Limit : |
Yen 256.4 Million |
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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 – 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 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 |
Company
name and address
HOYA CANDEO OPTRONICS CORPORATION
REGD NAME: Hoya
Candeo Optronics KK
MAIN OFFICE: 3-5-24
Hikawacho Toda Saitama-Pref 335-0027 JAPAN
Tel: 048-447-6052
Fax: 048-447-6053
URL: http://www.hoyacandeo.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfr of optical
laser, UV & electro-optical (EO) glass equipment, other
BRANCHES
Nil
OVERSEAS
Taiwan, China,
Germany
FACTORIES
(subcontracted-subsidiaries)
OFFICERS
TAKASHI SUEMATSU,
PRES
Ken Takahata, dir
Eiichiro Ikeda,
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,255 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 490 M
TREND UP WORTH Yen 3,309 M
STARTED 1988 EMPLOYES 96
COMMENT
MFR OF OPTICAL FIBERS, OTHERS, OWNED BY HOYA CORP. FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 256.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the
basis of a division separated from Hoya Corp, mfr of optical glasses &
eyeglasses (See REGISTRATION). This is a specialized mfr of optical
system/equipment, other (See OPERATION). Materials are wholly supplied from the
parent. Mfg is consigned to
subsidiaries. Clients include camera
makers, elect5ronic equipment makers, other, nationwide.
FINANCIAL
INFORMATION
The sales volume for Mar/2014 fiscal term amounted to Yen 6,255 million,
a 22% up from Yen 5,126 million in the previous term. Exports were robust into China, Taiwan, and
other S/E Asian emerging nations. The
net profit was posted at Yen 385 million, compared with Yen 223 million a year
ago.
For the current term ending Mar 2015 the net profit is projected at Yen
400 million, on a 5% rise in turnover, to Yen 6,550 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 256.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct
1988
Regd No.:
0300-01-021636
(Saitama-Toda)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 108,000
shares
Issued: 27,114
shares
Sum: Yen
490 million
Major
shareholders (%): Hoya Corp* (100)
*.. Major mfr of optical lenses and
eyeglasses, Tokyo, founded 1944, listed Tokyo S/E, capital Yen 6,264 million,
sales Yen 427,575 million, operating profit Yen 84,946 million, recurring
profits Yen 85,486 million, net profit Yen 58,390 million, total assets Yen
659,997 million, net worth Yen 504,470 million, employees 54,580, pres Hiroshi
Suzuki
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
light sources: optical system/equipment (UV light sources, laser oscillators),
EO glass (color glass filters, opt-electronics glass), other (--100%)
Clients: [Mfrs,
wholesalers] Nikon Corp, Cannon Inc, Tokyo Electron, Hitachi Ltd, Tokyo
Electron Kyushu, Olympus Corp, Panasonic Corp, Fujitsu Ltd, Sony Corp,
other
No. of accounts:
800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hoya Corp, Ushio Inc, Chiba Kogaku, Ito Denki Kogyo other
Payment
record
No Complaints
Location
Business area in Toda City, Saitama-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank
References
MUFG (Tokyo)
Resona Bank
(Shintoshin)
Relations:
Satisfactory
FINANCES
(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 |
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6,550 |
6,255 |
5,126 |
6,027 |
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Recur.
Profit |
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|
559 |
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Net
Profit |
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400 |
385 |
223 |
299 |
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Total
Assets |
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4,931 |
4,506 |
5,002 |
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Current
Assets |
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4,166 |
3,658 |
4,039 |
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Current
Liabs |
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1,530 |
980 |
1,221 |
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Net
Worth |
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3,309 |
3,434 |
3,690 |
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Capital,
Paid-Up |
|
|
490 |
490 |
490 |
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Div.Ttl
in Million (¥) |
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|
540 |
480 |
350 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.72 |
22.02 |
-14.95 |
17.90 |
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Current Ratio |
|
.. |
272.29 |
373.27 |
330.79 |
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N.Worth Ratio |
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.. |
67.11 |
76.21 |
73.77 |
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R.Profit/Sales |
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.. |
.. |
.. |
9.27 |
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N.Profit/Sales |
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6.11 |
6.16 |
4.35 |
4.96 |
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Return On Equity |
|
.. |
11.63 |
6.49 |
8.10 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.55 |
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|
1 |
Rs.99.10 |
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Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.