|
Report No. : |
346942 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
VISION INC |
|
|
|
|
Registered Office : |
Shinjuku Island Tower 5F, 6-5-1 Nishishinjuku Shinjukuku Tokyo 163-1305 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
Dec., 2001 |
|
|
|
|
Com. Reg. No.: |
0111-01-033243 (Tokyo-Shinjukuku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, Export and Wholesale of Communication Equipment,
Computers |
|
|
|
|
No. of Employees : |
352 |
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 281.8 Million |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
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 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.
|
Source
: CIA |
VISION INC
REGD NAME: KK
Vision
MAIN OFFICE: Shinjuku
Island Tower 5F, 6-5-1 Nishishinjuku Shinjukuku Tokyo 163-1305
JAPAN
Tel: 03-5325-0200 Fax: 03-5325-0203
URL: http://www.vision-net.co.jp
E-Mail address: (thru
the URL)
Import,
export, wholesale of communication equipment, computers
Tokyo,
Hokkaido, other (Tot 14)
USA, UK,
France, Italy, China, Korea, Singapore, Vietnam (--subsidiaries)
(Subcontracted)
KEN’ICHI
SANO, PRES
Shin’ichi
Nakamoto, dir
Kenji
Ohta, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen
9,249 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
300 M
TREND UP WORTH Yen
1,799 M
STARTED 2001 EMPLOYES 352
TRADING FIRM SPECIALIZING IN
COMMUNICATION EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: ESTIMATED AT YEN 281.8 MILLION, ON 30 DAYS NORMAL TERMS.
The
subject company was established originally in 1994 and was incorporated in 2001. This is
a trading firm for import, export and wholesale of communication equipment:
fixed and/or mobile telephone lines, OA equipment, computers, other.
The sales
volume for Dec/2014 fiscal term amounted to Yen 9,249 million, a 17% up from
Yen 7,884 million in
the previous term. Sales of global WIFI rose and contributed. The net profit was posted at Yen 76 million,
compared with Yen 336 recurring profit and Yen 143 million net profit,
respectively, a year ago.
For
the current term ending Dec 2015 the net profit is projected at Yen 180
million, on a 5% rise in turnover, to Yen 9,710 million. The weaker Yen will contribute
to earnings growth.
The
financial situation is considered FAIR and good for ORDINARY business engagements. Max
credit limit is estimated at Yen 281.8 million, on 30 days normal terms.
Date Registered: Dec 2001
Regd No.: 0111-01-033243
(Tokyo-Shinjukuku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 24,000
shares
Issued:
6,000 shares
Sum: Yen
300 million
Major shareholders (%): Ken’ichi Sano (44.9), other
No. of shareholders: 15 (about)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesale of
communication equipment, fixed and mobile telephone lines, OA equipment,
computers, others (--100%)
Clients: [Mfrs, wholesalers, consumers] Orix
Corp, SMBC Finance Service, Credit Saison, NEC Capital Solution, JCB (Credit
Card Service), Apple, other
No. of
accounts: 350
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Members Mobile,
Yahoo Inc, SoftBank BB, SoftBank Telecom, SoftBank Mobile, Cannon Inc, JCB,
other
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactory.
Bank References:
Mizuho Bank (Shinjuku-Shintoshin)
SMBC (Ikebukuro)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
|
Annual
Sales |
|
9,710 |
9,249 |
7,884 |
6,508 |
|
Recur.
Profit |
|
|
|
336 |
342 |
|
Net
Profit |
|
180 |
76 |
143 |
-81 |
|
Total
Assets |
|
|
3,616 |
3,683 |
3,419 |
|
Current
Assets |
|
|
2,332 |
2,590 |
2,398 |
|
Current
Liabs |
|
|
1,776 |
1,868 |
1,430 |
|
Net
Worth |
|
|
1,799 |
1,702 |
1,786 |
|
Capital,
Paid-Up |
|
|
300 |
300 |
300 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.98 |
17.31 |
21.14 |
-8.21 |
|
Current Ratio |
|
.. |
131.31 |
138.65 |
167.69 |
|
N.Worth Ratio |
|
.. |
49.75 |
46.21 |
52.24 |
|
R.Profit/Sales |
|
.. |
.. |
4.26 |
5.26 |
|
N.Profit/Sales |
|
1.85 |
0.82 |
1.81 |
-1.24 |
|
Return On Equity |
|
.. |
4.22 |
8.40 |
-4.54 |
Notes: Forecast
(or estimated) figures for the 31/12/2015 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
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
NIT |
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.