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Report No. : |
320881 |
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Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
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Name : |
HINO SYSTECH CORPORATION |
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Registered Office : |
1-20-2 Minami-Rokugo Otaku Tokyo 144-0045 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
October 1957 |
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Com. Reg. No.: |
0108-01-010052 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of electric equipment, control console, switch board, other |
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No of Employees : |
80 |
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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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
HINO
SYSTECH CORPORATION
Hino Systech KK
1-20-2 Minami-Rokugo Otaku Tokyo 144-0045
JAPAN
Tel: 03-3732-3591 Fax: 03-3739-7249
URL: http://www.hino-systech.co.jp
E-Mail address: n-ueno@hino-systech.co.jp
(products); s-muramatsu@hino-systech.co.jp
(technical)
Mfg of electric equipment, control console,
switch board, other
Nil
(subcontracted)
AKIRA KUMAZAWA, PRES
Nariyuki Ueno, dir
Satoru Muramatsu, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,598 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
45 M
TREND UP WORTH Yen 295 M
STARTED 1957 EMPLOYES 80
MFR OF ELECTRIC
EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established
by Eiji Hino originally in 1950 for starting electric work business. Incorporated in 1957 the firm has been
succeeded by his descendants. This is a
specialized mfr of electric equipment, control console, switch board, monitor
control systems, process instrument system, offering electric instrumentation
work, other. Clients include major heavy
machinery makers, construction companies, Tokyo-Metrop Office, other.
The sales volume for Sept/2014
fiscal term amounted to Yen 1,598 million, a 7% down from Yen 1,710 million in
the previous term. The recurring profit
was posted at Yen 259 million and the net losses of Yen 2 million,
respectively, compared with Yen 134 million recurring profit and Yen 66 million
net losses, respectively, a year ago.
For the current term ending Sept
2015 the recurring profit is projected at Yen 150 million and the net profit at
Yen 65 million, respectively, on a 3% rise in turnover, to Yen 1,650 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date
Registered: Oct 1957
Regd
No.: 0108-01-010052
(Tokyo-Otaku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 360,000 shares
Issued:
90,000 shares
Sum:
Yen
45 million
Major shareholders
(%): Masayasu Hino (20), Akira Kumazawa (13), Masanori Hino (12), Employees’
S/Holding Assn (10), Hatsue Hino (7)
No.
of shareholders: 26
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Manufactures
electric equipment: control console, switch board, instrument board, monitor
controlling system, anti-disaster equipment, process instrumentation system,
others, offering electric instrumentation work (--100%)
Clients: [Mfrs,
wholesalers] JGC Corp, Chiyoda Corp, Mitsubishi Heavy Ind, IHI Corp,
Tokyo-Metrop Office, Kawasaki Heavy Ind, JFE Engineering, Ebara Corp, Mitsui
Engineering & Shipbuilding Ind, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kanaden Corp, Teruya Electric Co, Aitech Engineering, HIMA,
Midoriya Techno Co, Takagi Shokai, Sanwa Technos Corp, other
Payment
record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
owned and maintained satisfactorily.
Bank
References:
MUFG
(Kamata)
Mizuho
Bank (Kamata)
Relations:
Satisfactory
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Terms Ending: |
30/09/2015 |
30/09/2014 |
30/09/2013 |
30/09/2012 |
|
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Annual Sales |
|
1,650 |
1,598 |
1,710 |
1,649 |
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Recur. Profit |
|
150 |
259 |
134 |
70 |
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Net Profit |
|
65 |
-2 |
66 |
23 |
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Total Assets |
|
|
1,170 |
864 |
1,042 |
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Current Assets |
|
|
956 |
571 |
806 |
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Current Liabs |
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|
766 |
320 |
860 |
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Net Worth |
|
|
295 |
298 |
231 |
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Capital, Paid-Up |
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|
45 |
45 |
45 |
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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 |
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3.25 |
-6.55 |
3.70 |
39.27 |
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Current Ratio |
|
.. |
124.80 |
178.44 |
93.72 |
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N.Worth Ratio |
|
.. |
25.21 |
34.49 |
22.17 |
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R.Profit/Sales |
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9.09 |
16.21 |
7.84 |
4.24 |
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N.Profit/Sales |
|
3.94 |
-0.13 |
3.86 |
1.39 |
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Return On Equity |
|
.. |
-0.68 |
22.15 |
9.96 |
Notes: Forecast (or estimated) figures for
the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.57 |
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|
1 |
Rs. 97.98 |
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Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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.