|
Report No. : |
320972 |
|
Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADAMANT CO LTD |
|
|
|
|
Registered Office : |
1-16-7 Shinden Adachiku Tokyo 123-8595 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
April 1957 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufactures optical communication parts (80%), electronic products,
equipment (10%), others (4%) |
|
|
|
|
No. of Employees : |
132 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 681.5 Million |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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.
|
Source
: CIA |
ADAMANT CO LTD
Adamant KK
1-16-7 Shinden Adachiku Tokyo 123-8595 JAPAN
Tel: 03-3919-1171 Fax:
03-3913-3434
E-Mail address: (thru the URL)
ACTIVITIES: Mfg of optical communications parts,
electronic products, other
BRANCHES: Nil
OVERSEAS: USA, Germany, Hong Kong, China, Thailand
FACTORIES: Akita; Fukushima, Niigata, Kagoshima, China
(--subsidiaries)
OFFICERS: YOICHI SHIMODA, PRES Shoji Namiki, ch
Makoto Otsubo, v
pres Terumichi Sugimura, dir
Kyoji
Takita, dir Junji Miyamoto, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 11,114 M
PAYMENTS REGULAR CAPITAL Yen 31 M
TREND STEADY WORTH Yen 10,817 M
STARTED 1957 EMPLOYES 132
COMMENT: MFR OF OPTICAL COMMUNICATIONS PARTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 681.5 MILLION, ON 30 DAYS NORMAL
TERMS.
The subject company is a specialized mfr of optical communications
parts, electronic products, other.
Products are mostly manufactured at its subsidiaries, including one in
China. Goods are exported.
The sales volume for Dec/2013 fiscal term amounted to Yen 11,174 million,
a 5% up from Yen 10,604 million in the previous term. The recurring profit was posted at Yen 470
million and the net profit at Yen 345 million, respectively, compared with Yen
68 million recurring profit and Yen 330 million net profit, respectively, a year
ago.
For the term that ended Dec 2014 the recurring profit was projected at
Yen 500 million and the net profit at Yen 360 million, respectively, on a 5%
rise in turnover, to Yen 11,750 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 681.5 million, on 30 days normal terms.
Date Registered: Apr
1957
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 252,000 shares
Issue:
63,000 shares
Sum: Yen
31.5 million
Major shareholders
(%): Namiki Seimitsu Hoseki
Co (67), Shoji Namiki (23), Ryuichi Furuichi
(2),
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
optical communication parts (80%), electronic products, equipment (10%), others
(4%)
Clients: [Mfrs,
wholesalers] Sanmina-SCI Optical (8%), Sumitomo Electric Ind Devise Innovation
(6%), other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Akita Adamant (92%), Furukawa Electric Ind, Hitachi Metal,
Preciseley Microtechnology, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Mizuho Bank (Akabane)
Hokuto Bank (Yuzawa)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
11,750 |
11,174 |
10,604 |
11,698 |
|
Recur. Profit |
|
500 |
470 |
68 |
|
|
Net Profit |
|
360 |
345 |
330 |
402 |
|
Total Assets |
|
|
13,068 |
12,071 |
12,484 |
|
Current Assets |
|
|
10,876 |
9,702 |
|
|
Current Liabs |
|
|
1,909 |
1,229 |
|
|
Net Worth |
|
|
10,817 |
10,476 |
10,151 |
|
Capital, Paid-Up |
|
|
31 |
31 |
31 |
|
Div.Ttl in Million (¥) |
|
|
4.7 |
4.7 |
4.7 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.15 |
5.38 |
-9.35 |
-13.00 |
|
Current Ratio |
|
.. |
569.72 |
789.42 |
.. |
|
N.Worth Ratio |
|
.. |
82.77 |
86.79 |
81.31 |
|
R.Profit/Sales |
|
4.26 |
4.21 |
0.64 |
.. |
|
N.Profit/Sales |
|
3.06 |
3.09 |
3.11 |
3.44 |
|
Return On Equity |
|
.. |
3.19 |
3.15 |
3.96 |
Notes: Forecast (or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.