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Report No. : |
346913 |
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Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
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Name : |
RIKEN DENGU SEIZO CO LTD |
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Registered Office : |
NET-2 Mita Bldg 3F, 3-2-8 Mita Minatoku Tokyo 108-0073 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
January, 1955 |
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Com. Reg. No.: |
0104-01-043695 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Mfg (subcontracted) of microwave components, CCD cameras, LED
products, electronic mfg services |
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No. of Employee : |
42 |
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 87.7 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 |
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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 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 |
RIKEN DENGU SEIZO CO LTD
REGD NAME: Riken Dengu Seizo KK
(Dengu means electronic instruments)
MAIN OFFICE: NET-2 Mita Bldg 3F,
3-2-8 Mita Minatoku Tokyo 108-0073JAPAN
Tel:
03-5730-7700 Fax: 03-5730-2205
URL: http://www.rikendengu.co.jp
E-Mail address: (thru the URL)
Mfg (subcontracted) of microwave components, CCD cameras, LED products,
electronic mfg services
Osaka, Gunma (Distribution Center)
Gunma
GODAI TASHIRO, PRES Daimon
Tashiro, rep dir
Jun’ya Kotake, dir Satoshi
Matsushima, dir
Kimiko Tashiro, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,959 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
100 M
TREND UP WORTH Yen
1,313 M
STARTED 1955 EMPLOYES 42
MFR OF ELECTRONIC PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 87.7 MILLION, ON 30 DAYS NORMAL
TERMS.
The subject company is a specialized mfr of electronics devices;
microwave components, CCD cameras, LED products, optical connector assembly,
and offers electronic mfg services, other.
Clients include major electric/electronic makers, heavy machinery
makers, other. Goods are also exported.
Financials are disclosed only partially.
The sales volume for Mar/2015 fiscal term amounted to Yen 1,959 million,
a 2% up from Yen 1,926 million in the previous term. Orders for connectors rose. Also, the weaker Yen contributed. The recurring profit was posted at Yen 73
million and the net profit at Yen 93 million, respectively, compared with Yen
80 million net profit a year ago.
For the current term ending Mar 2016 the recurring profit is projected
at Yen 75 million and the net profit at Yen 100 million, respectively, on a 3%
rise in turnover, to Yen 2,015 million.
The business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 87.7 million, on 30 days normal terms.
Date Registered: Jan
1955
Regd No.: 0104-01-043695
(Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued: 200,000
shares
Sum: Yen
100 million
Major shareholders (%): Tashiro Enterprises* (52.4), Godai Tashiro
(10.8), Daimon Tashiro (9.2) *..
Holding
company owned by
the Tashiro family
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
electric/electronic devices & products: microwave components, CCD cameras,
LED products, optical connector assembly, other (--100%)
Clients: [Mfrs,
wholesalers] Tokyo Aircraft Instruments Co (13.5%), Mitsubishi Electric (11.1%),
Toshiba Corp (10.4%), Mitsubishi Heavy Ind (7.1%), other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: Mfrs, wholesalers] Ridex Integral (45.2%), Airborn
Interconnect (8.2%), other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
MUFG (Tamachi)
Resona Bank
(Tamachi)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
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Annual Sales |
|
2,015 |
1,959 |
1,926 |
1,638 |
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Recur. Profit |
|
75 |
73 |
.. |
.. |
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Net Profit |
|
100 |
93 |
80 |
131 |
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Total Assets |
|
|
1,760 |
1,684 |
N/A |
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Net Worth |
|
|
1,313 |
1,233 |
1,153 |
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Capital, Paid-Up |
|
|
100 |
100 |
100 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
2.86 |
1.71 |
17.58 |
-11.12 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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|
74.60 |
73.22 |
.. |
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N.Profit/Sales |
|
4.96 |
4.75 |
4.15 |
8.00 |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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Report Prepared
by : |
SDA |
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.