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Report No. : |
345866 |
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Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
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Name : |
JEPICO CORPORATION |
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Registered Office : |
Shinjuku Front Tower 34F, 2-21-1 Kita-Shinjuku Shinjukuku Tokyo
169-0074 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
November 1972 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is fables manufacturer of LSI products; import,
export and wholesale of LSI & products, system integration,
semiconductors, electronic parts & components, board computers &
integration, system level products, module, board of system integration |
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No. of Employee : |
99 |
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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Maximum Credit Limit : |
YEN 98.7 MILLION |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 an 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. Scarce in many natural resources, Japan has long been dependent on imported raw materials. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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. 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 of that year disrupted manufacturing. The economy has largely recovered in the four years since the disaster, although reconstruction in the affected Tohoku region has lagged, in part due to a shortage of labor in the construction sector. Japan enjoyed a sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary easing, “flexible” fiscal policy, and structural reform. Abe’s government has replaced the preceding administration’s plan to phase out nuclear power with a new policy of seeking to restart nuclear power plants that meet strict new safety standards, and emphasizing nuclear energy’s importance as a base-load electricity source. Japan joined the Trans-Pacific Partnership (TPP) 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 first-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. While seeking to stimulate and reform the economy, the government must also devise a strategy for reining in Japan's huge government debt, which amounts to more than 230% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8% implemented in April 2014. That increase had a contractionary effect on GDP, however, so PM Abe in late 2014 decided to postpone the final phase of the increase until April 2017 to give the economy more time to recover. Led by the Bank of Japan’s aggressive monetary easing, Japan is making progress in ending deflation, but demographics - low birthrate and an aging, shrinking population - pose major long-term challenges for the economy.
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Source
: CIA |
JEPICO CORPORATION
REGD NAME: KK
JEPICO
Shinjuku Front
Tower 34F, 2-21-1 Kita-Shinjuku Shinjukuku Tokyo 169-0074, JAPAN
Tel:
03-6386-0611 Fax: 03-6386-8234
E-Mail
address: (thru the URL)
Mfg
(fables) of LSI & products; import, export, wholesale of electronics
devices
Osaka,
Nagoya
Taipei,
Hong Kong, USA, Germany (--subsidiaries)
(subsidiaries)
KIN’ICHI
OHNO, PRES
Koki
Yamakawa, mgn dir
Kazuo
Adachi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 5,896 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
252 M
TREND UP WORTH Yen 1,140 M
STARTED 1972 EMPLOYES 99
FABLES MFR OF LSI & PRODUCTS, ELECTRONIC DEVICES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 98.7 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Kin’ichi Ohno in
order to make most of his experience in the subject line of business. This is a fables mfr of system integration
& LSI products, also imports, exports and wholesales LSI products,
semiconductors, electronics parts & components, board computer &
integration, system level products, module, other. Operates four overseas offices: Taipei, Hong
Kong, Germany & USA. Clients include
major electronics mfrs, heavy machinery mfrs, other, nationwide.
The sales volume for Mar/2015 fiscal term amounted to Yen
5,896 million, a 25% up from Yen 5,118 million in the previous term. Sales increased for defense & aerospace
industries. The recurring profit was
posted at Yen 112 million and the net profit at yen 37 million, respectively,
compared with Yen 95 million recurring profit and Yen 40 million net profit,
respectively, a year ago.
For the current term ending mar 2016 the recurring profit is
projected at Yen 125 million and the net profit at Yen 40 million,
respectively, on a 5% rise in turnover, to Yen 6,200 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 98.7 million, on 30 days normal terms.
Date Registered: Nov 1972
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 2
million shares
Issued:
5,035,882 shares
Sum: Yen 252.76 million
Major shareholders (%): Yuko Tanabe (11.4), Kin’ichi
Ohno (10), Sisters Labo (7.9), MUFG (2.6), Employees’ S/Holding Assn (2)
No. of shareholders: 81
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Fables mfr of LSI products; import,
export and wholesale of LSI & products, system integration, semiconductors,
electronic parts & components, board computers & integration, system
level products, module, board of system integration, other (--100%)
Clients: [Mfrs, wholesalers] Mitsubishi
Electric group, Mitsubishi Heavy Ind, NEC group, Hitachi Ltd group, Toshiba
group, Fujitsu group, Sinfonia Technology Co, Furuno Electric Co, Japan
Aviation Electronics, Japan Aerospace Exploration Agency, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Actel Corp, Alter
Technology group Spain, Avnet Electronics Marketing, Eon Silicon Solution Inc,
Dialight Corp, Kontron Modular Comp, SAXA Techno Inc, other.
Payment record: No
complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Shinjuku-Nishi)
SMBC
(Shinjuku-Nishiguchi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
6,200 |
5,896 |
5,118 |
5,753 |
|
Recur.
Profit |
|
125 |
112 |
95 |
|
|
Net
Profit |
|
40 |
37 |
40 |
137 |
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Total
Assets |
|
|
4,990 |
3,989 |
4,428 |
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Current
Assets |
|
|
4,406 |
3,426 |
|
|
Current
Liabs |
|
|
3,274 |
2,257 |
|
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Net
Worth |
|
|
1,315 |
1,304 |
1,297 |
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Capital,
Paid-Up |
|
|
252 |
252 |
252 |
|
Div.Ttl
in Million (¥) |
|
|
31.6 |
31.6 |
31.6 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.16 |
15.20 |
-11.04 |
8.44 |
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Current Ratio |
|
.. |
134.58 |
151.79 |
.. |
|
N.Worth Ratio |
|
.. |
26.35 |
32.69 |
29.29 |
|
R.Profit/Sales |
|
2.02 |
1.90 |
1.86 |
.. |
|
N.Profit/Sales |
|
0.65 |
0.63 |
0.78 |
2.38 |
|
Return On Equity |
|
.. |
2.81 |
3.07 |
10.56 |
Notes:
Forecast (or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
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.