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Report No. : |
325744 |
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Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SEIKO OPTICAL PRODUCTS CO LTD |
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Registered Office : |
Seiko Yaesudori Bldg, 1-9-9 Hatchobori Chuoku Tokyo 104-0032 |
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Country : |
Japan |
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Date of Incorporation : |
January 1996 |
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Com. Reg. No.: |
0100-01-047936 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is import, export, wholesale of optical lenses,
frames, other products |
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No. of Employee : |
13,502 |
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 : |
Unknown |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused the economy to contract during the 2nd and 3rd quarters of 2014. The economy has largely recovered in the three years since the disaster, but reconstruction in the Tohoku region has been uneven due to labor shortages. 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 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. The government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which amounts to more than 240% 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 2015, although the government in 2014 decided to postpone the final phase of the increase until 2017 to give the economy time to recover from the 2014 increase. 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 |
In absence of financials, no credit limit could be recommended.
SEIKO OPTICAL
PRODUCTS CO LTD
Seiko Yaesudori
Bldg, 1-9-9 Hatchobori Chuoku Tokyo 104-0032 JAPAN
Tel:
03-5542-5001
E-Mail
address: (thru the URL)
Import,
export, wholesale of optical lenses, frames, other products
Sapporo,
Nagoya, Osaka, Fukuoka
USA,
Europe (6), China, South Africa
NOBUO TANAKA,
PRES
Date Registered: Jan 1996
Regd No.: 0100-01-047936
(Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.2 million shares
Issued:
300,000 shares
Sum: Yen
1,500 million
Major shareholders
(%): Seiko Holdings Inc* (100)
*.. Holding Company of Seiko Group
firms, Tokyo, founded 1917, listed Tokyo S/E, capital Yen 10,000 million, sales
293,472 million, net profit Yen 21,778 million, total assets Yen 333,701
million, net worth Yen 92,589 million, employees 13,502, pres Yoshinobu
Nakamura
Nothing
detrimental is known as to the commercial morality of executives.
This is a trading firm under
Seiko Holdings Corp, for import, export and wholesales eye-glasses, optical lenses,
frames, other products. The financials
are consolidated by the parent,
Seiko Holdings Corp, and not individually disclosed.
Activities: Imports, exports and wholesales:
eyeglasses, optical lenses, frames, other products (--100%)
Clients: [Mfrs, wholesalers] Empire Optical,
Japan Optical, Miki Inc, Seiko Optical Products America, other
No. of accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Seiko Epson
Payment record: Unknown
Location:
Business area in Tokyo. Office premises
at the caption address are owned by the Holding Company, Seiko Holdings Corp,
and maintained satisfactorily.
Bank References:
Mizuho Bank (Tokyo)
Resona Bank (Tokyo)
Relations: Satisfactory
(In Million Yen)
NOT DISCLOSED AND UNAVAILABLE.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.83 |
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1 |
Rs.97.10 |
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Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ASH |
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.