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Report No. : |
312396 |
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Report Date : |
26.03.2015 |
IDENTIFICATION DETAILS
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Name : |
ALLIED TELESIS HOLDINGS K.K. |
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Registered Office : |
2nd TOC Bldg, 7-21-11 Nishi
Gotanda Shinagawaku Tokyo 141-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 (Consolidated) |
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Date of Incorporation : |
April 1971 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Engaged in delivering IP/Ethernet Network Solutions to the Global Marketplace. · Subject creates Innovative, Standards-Based IP Networks that Seamlessly Connect with Voice, Video and Data Services. · Subject also offers a wide range of Access, Aggregation and Backbone Solutions for Service Providers. |
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No of Employees : |
2,022 (Consolidated) |
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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Maximum Credit Limit : |
Yen 258.8 Million |
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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 – 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. 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 |
ALLIED TELESIS
HOLDINGS K.K.
ALLIED TELESIS
HOLDINGS KK
2nd TOC
Bldg, 7-21-11 Nishi Gotanda Shinagawaku Tokyo 141-0031 JAPAN
Tel:
03-5437-6000 Fax: information not
available
URL: http://www.at-global.com
E-Mail address: info@allied-telesis.co.jp
· Engaged in delivering IP/Ethernet Network Solutions to the Global Marketplace.
· Subject creates Innovative, Standards-Based IP Networks that Seamlessly Connect with Voice, Video and Data Services.
·
Subject also offers a wide range of access,
aggregation and backbone solutions for Service Providers.
None
None
TAKAYOSHI OSHIMA, CH
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES SLOW A/SALES Yen 30,217 M
PAYMENTSSlow but Correct CAPITAL Yen
9,977 M
TREND SLOW WORTH Yen
6,311 M
STARTED 1971 EMPLOYES 2,022 (consolidated)
A HOLDING COMPANY IN HANDLING
BUSINESS STRATEGY AND MANAGEMENT FOR THE ENTIRE GROUP.
FINANCIAL SITUATION COSIDERED
SLOW AND CONCERNED FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 258.8 MILLION, 30 DAYS NORMAL TERMS
|
Terms Ending |
Annual
Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
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Results: |
31/03/2011 |
34,080 |
940 |
684 |
(%) |
12,484 |
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(Consolidated) |
31/12/2012 |
28,288 |
1,103 |
729 |
-17.00 |
12,696 |
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31/12/2013 |
29,924 |
762 |
95 |
5.78 |
10,896 |
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31/12/2014 |
30,217 |
-367 |
-3,955 |
0.98 |
6,311 |
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31/12/2015 |
33,600 |
-700 |
-1,600 |
11.20 |
4,711 |
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Forecast (or estimated) figures for 2015 term. |
*..Unit: Million Yen |
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The subject company was founded in 1987 by Takayoshi Oshima who is the current CEO. It is a holding company engaged in the planning, development, manufacture and sales of network devices and solutions, handling business strategy and management for the entire group. Its commercial affiliates divide six business groups and provide solution, support as well as service for various fields such as business enterprises, medicine, local government, education and aerospace.
The sales volume for July /2014 fiscal term amounted to Yen 30,217 million, a 1% up from Yen 29,924 million in the previous term. The recurring profit was posted at Yen -367 million and the net profit at Yen -3,955 million, respectively, compared with Yen 762 million recurring profit and Yen 95 million net profit, respectively, a year ago
Financial position
has been deteriorated due to the following elements:
1.
Cost of supplies ands R&D from
overseas surged by weak Yen.
2.
Asset in foreign currency revalued and
recognized loss.
3.
Impairment loss recognized for fixed
assets and software.
For the current term ending July 2015 the recurring profit is projected at Yen -700 million and the net profit at Yen -1,600 million, respectively, on a 11% rise in turnover, to Yen 33,600 million. Final results are yet to be released.
The financial situation is considered SLOW and concerned for ORDINARY business engagements. Max credit limit is estimated at Yen 258.8 million, on 30 days normal terms.
Date Registered: April 1971
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 600
million shares
Issued: 109 million shares
Sum: Yen 9,977
million
Major shareholders (%): Takayoshi Oshima (30.8) Oshima General Holdings No.1,Llc (8.7),
Emoloyees’ S/Holding Assn(0.7), SMBC(0.7), Ikuyo Nosue(0.7), Japan Seturities
Finance Corp.(0.6),
No. of shareholders: 11,017
Listed on the S/Exchange (s) of:
Second Section of the Tokyo Stock Exchange
Managements:
Takayoshi Oshima, ch; Sachie Oshima, dir; Tomoyuki Sugihara, dir Ash Padwal, dir; Masanari Nakayama, dir, Shinichi
Kimura, rep/dir
Nothing detrimental is known as
to the commercial morality of executives.
Related companies: Allied Telesis Inc.(U.S.A), Allied
Telesis international GmbH(Germany), Allied Telesis International
B.V.(England), Allied Telesis Corp.(Japan), Corega Corp.(Japan),other
Activities:
Allied Telesis is a world class leader in delivering IP/Ethernet network
solutions to the global marketplace. It
creates innovative, standards-based IP networks that seamlessly connect with voice,
video and data services.
Enterprise customers can build complete end-to-end networking solutions through a single vendor, with core-to-edge technologies ranging from powerful 10 Gigabit Layer 3 switches right through to media converters.
It also offers a wide range of access, aggregation and backbone solutions for Service Providers. Our products range from industry leading media gateways which allow voice, video and data services to be delivered to the home and business, right through to high-end chassis-based platforms providing significant network infrastructure.
Clients: [Mfrs, wholesalers] Allied Telesis
group companies
No. of accounts: Unavailable
Domestic areas of activities: Tokyo
Suppliers:
[Mfrs, wholesalers] N/A
Payment record: Slow
but Correct
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References:
Aozora
Bank (Gotanda)
Resona
Bank (Gotanda)
Relations:
Satisfactory
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/12/2014 |
31/12/2013 |
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INCOME STATEMENT |
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Annual Sales |
30,217 |
29,924 |
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Cost of Sales |
11,554 |
11,037 |
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GROSS PROFIT |
18,663 |
18,888 |
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Selling & Adm Costs |
20,507 |
20,173 |
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OPERATING PROFIT |
-1,844 |
-1,285 |
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Non-Operating P/L |
1,477 |
2,047 |
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RECURRING PROFIT |
-367 |
762 |
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NET PROFIT |
-3,955 |
95 |
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BALANCE SHEET |
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Cash |
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3,868 |
4,418 |
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Receivables |
7,863 |
8,688 |
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Inventory |
4,025 |
3,655 |
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Securities, Marketable |
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Other Current Assets |
2,179 |
2,213 |
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TOTAL CURRENT ASSETS |
17,936 |
18,974 |
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Property & Equipment |
4,072 |
6,045 |
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Intangibles |
167 |
1,129 |
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Investments, Other Fixed Assets |
1,306 |
1,460 |
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TOTAL ASSETS |
23,481 |
27,608 |
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Payables |
2,213 |
2,401 |
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Short-Term Bank Loans |
1,708 |
1,519 |
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Other Current Liabs |
6,314 |
6,051 |
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TOTAL CURRENT LIABS |
10,235 |
9,971 |
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Debentures |
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Long-Term Bank Loans |
5,515 |
5,144 |
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Reserve for Retirement Allw |
747 |
771 |
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Other Debts |
673 |
826 |
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TOTAL LIABILITIES |
17,170 |
16,712 |
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MINORITY INTERESTS |
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Common
stock |
9,985 |
9,977 |
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Additional
paid-in capital |
177 |
170 |
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Retained
earnings |
(4,671) |
658 |
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Evaluation
p/l on investments/securities |
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Others |
820 |
91 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
6,311 |
10,896 |
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TOTAL EQUITIES |
23,481 |
27,608 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/12/2014 |
31/12/2013 |
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Cash
Flows from Operating Activities |
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-169 |
-101 |
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Cash
Flows from Investment Activities |
-833 |
-2,586 |
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Cash Flows
from Financing Activities |
73 |
1,541 |
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Cash,
Bank Deposits at the Term End |
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3,868 |
4,418 |
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ANALYTICAL RATIOS Terms ending: |
31/12/2014 |
31/12/2013 |
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Net
Worth (S/Holders' Equity) |
6,311 |
10,896 |
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Current
Ratio (%) |
175.23 |
190.30 |
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Net
Worth Ratio (%) |
26.88 |
39.47 |
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Recurring
Profit Ratio (%) |
-1.22 |
2.55 |
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Net
Profit Ratio (%) |
-13.09 |
0.32 |
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Return
On Equity (%) |
-62.67 |
0.88 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.34 |
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UK Pound |
1 |
Rs.92.65 |
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Euro |
1 |
Rs.68.12 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
MNL |
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 |
-- |
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.