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Report No. : |
322368 |
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Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
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Name : |
HYTEC INTER CO LTD |
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Registered Office : |
Ichigo Nishisando Bldg, 3-28-6 Yoyogi Shibuyaku Tokyo 151-0053 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
November 1998 |
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Com. Reg. No.: |
0110-01-075763 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports and wholesales telecommunication & computer products:
business modems, media converters, industrial xDSL modems/switches, WAN load
balancers, LAN extenders, remote power supply extenders, analog modems,
accessories, other (--100%) |
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No. of Employees : |
26 |
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 : |
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
|
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 |
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.
|
Source
: CIA |
HYTEC INTER CO LTD
Hytec Inter KK
Ichigo Nishisando Bldg, 3-28-6 Yoyogi Shibuyaku Tokyo 151-0053 JAPAN
Tel: 03-5334-5260 Fax:
03-5334-3688
URL: http://www.hytec.co.jp
E-Mail address: info@hytec.co.jp
ACTIVITIES: Import, wholesale of telecommunication
& computer products
BRANCHES: Nil
OVERSEAS: Korea, Taiwan
OFFICERS: NORIHITO ASAO, PRES Masahiro Takaishi, dir
Naohiko Nomura,
dir Takeshi Tomota, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 685 M
PAYMENTS SLOW BUT CORRECT CAPITAL YEN 50 M
TREND SLOW WORTH Yen 160 M
STARTED 1998 EMPLOYES 26
COMMENT: TRADING FIRM SPECIALIZING IN
TELECOMMUNICATION PRODUCTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally as Hytec Inter YK (Yugen
Kaisha) and in 2001 upgraded to KK (Kabushiki Kaisha), or Hytec Inter Co
Ltd. This is a trading firm for import
and wholesale of telecommunication & computer products: business modems,
industrial xDSL modems/switches, LAN extenders, analog modems, media
converters, other (See OPERATION). Goods are imported from Taiwan and Korea,
where the firm operates branch offices.
Clients include information systems Co, electronic firms, other.
The sales volume for Sept/2014 fiscal term amounted to Yen 685 million,
a 12% down from Yen 778 million in the previous term. The recurring profit was posted at Yen 15
million and the net profit at Yen 11 million, respectively, compared with Yen
107 million recurring profit and Yen 74 million net profit, respectively, a
year ago.
For the current term ending Sept 2015 the recurring profit is projected
at Yen 20 million and the net profit at Yen 15 million, respectively, on a 5%
rise in turnover, to Yen 720 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Nov 1998
Regd No.: 0110-01-075763 (Tokyo-Shibuyaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
4,000 shares
Issued:
1,000 shares
Sum: Yen 50 million
Major shareholders
(%): Norihito Asao (55), Company’s Treasury Stock (16), Masahiro Takaishi
(15)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales telecommunication & computer products: business modems, media
converters, industrial xDSL modems/switches, WAN load balancers, LAN extenders,
remote power supply extenders, analog modems, accessories, other (--100%)
Clients: [Mfrs,
wholesalers] Toyo Denso Co, Daiwabo Information Systems, NEC Corp, Oki Electric
Ind, Fujitsu Ltd, Toshiba Corp, Ministry of Defense, Mitsubishi Electric,
Hitachi Ltd, NTT East Corp, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] ITAS Technology Corporation, ZHONE Corp, B&B Electric, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
SMBC (Ueno)
Mizuho Bank (Kanda)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
30/09/2015 |
30/09/2014 |
30/09/2013 |
30/09/2012 |
|
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Annual Sales |
|
720 |
685 |
778 |
454 |
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Recur. Profit |
|
20 |
15 |
107 |
36 |
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Net Profit |
|
15 |
11 |
74 |
36 |
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Total Assets |
|
|
531 |
488 |
357 |
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Current Assets |
|
|
458 |
432 |
310 |
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Current Liabs |
|
|
130 |
177 |
101 |
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Net Worth |
|
|
160 |
153 |
87 |
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Capital, Paid-Up |
|
|
50 |
50 |
50 |
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Div.Ttl in Million (¥) |
|
|
3.76 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.11 |
-11.95 |
71.37 |
26.11 |
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Current Ratio |
|
.. |
352.31 |
244.07 |
306.93 |
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N.Worth Ratio |
|
.. |
30.13 |
31.35 |
24.37 |
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R.Profit/Sales |
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2.78 |
2.19 |
13.75 |
7.93 |
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N.Profit/Sales |
|
2.08 |
1.61 |
9.51 |
7.93 |
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Return On Equity |
|
.. |
6.88 |
48.37 |
41.38 |
Notes: Forecast (or estimated) figures for the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.20 |
|
|
1 |
Rs.100.03 |
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Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.