MIRA INFORM REPORT
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Report No. : |
338590 |
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Report Date : |
11.09.2015 |
IDENTIFICATION DETAILS
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Name : |
IMATION CORPORATION |
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Registered Office : |
Aoyama Oval Building, 5-52-2 Jingumae, Shibuya-Ku, Tokyo 150-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 (Parent Company) |
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Date of Incorporation : |
10.05.1996 |
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Legal Form : |
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Line of Business : |
Trader of Data Storage Products. |
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No. of Employees : |
132 |
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 Limits : |
USD 100,000 |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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.
|
Source
: CIA |
Company
Name and address
IMATION CORPORATION
AOYAMA OVAL BUILDING, 5-52-2 JINGUMAE,
SHIBUYA-KU,
TOKYO 150-0001, JAPAN
TEL: 81-3-5774-3901 FAX:
81-3-5774-3903
EXECUTIVE
SUMMARY
INCORPORATION DATE :
MAY 10, 1996
REGISTRATION NO. :
N/A
CHIEF EXECUTIVE :
SEKINE MUNETAKA (PRES. & REPRESENTATIVE DIRECTOR)
STAFF STRENGTH :
132
PAID-UP CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
JPY
EQUITIES :
JYP
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
UP TO USD 100,000
MARKET CONDITION :
ACTIVE
FINANCIAL CONDITION :
NORMAL
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
SATISFACTORY
EXCHANGE RATE :
JPY 120.845 = US$1
Adopted
abbreviations:
ANS - amount not
stated
NS - not stated
SC - subject company
(the company inquired by you)
NA - not available
M - million
JPY-Japan JPY
REGD NAME
IMATION CORPORATION
REGISTRATION
Date of incorporation: MAY 10,
1996
Status: Active
Regd No.: N/A
Legal Status: Private
Limited
LOCATION
Head Office Aoyama Oval Building, 5-52-2
Jingumae, Shibuya-ku, Tokyo 150-0001, Japan
Branch
Osaka office
Yubinbango532-0011 Osaka Yodogawa Nishinakajim
Tel.06-6307-3971
Fax.06-6307-3972
Fukuoka sales
office
Yubinbango812-0011 Fukuoka, Hakata-ku, Fukuoka City Hakat
Tel.092-411-1091
Fax.092-474-5798
Shibuya Technical
Center
150-0002 Shibuya, Shibuya-ku, Tokyo
Ikejiri Technical Center MAP
Yubinbango153-0044 Meguro-ku, Tokyo Ohashi
Factory N/A
Warehouse Aoyama Oval Building, 5-52-2
Jingumae, Shibuya-ku, Tokyo 150-0001, Japan
Note: Your contains some spelling mistakes..
The design is professional and the content is well organized. At present
it is in Japanese version.
E-mail: info@imation.co.jp
For the past two years there is no record of litigation.
SHAREHOLDER
Name Imation
Corporation
Share Percent 100%
Country USA
DIRECTORS
Name Mr.
Sekine Munetaka
Designation President
& Representative Director
Nationality Japanese
LINE OF BUSINESS
Trader of Data Storage Products
RANGE OF PRODUCTS
v Data storage products and audio and visual products and related products
sold to them, as well as provide operational management services in this
regard, and system integrator business
Terms of Purchase
Local :
Cash or Credit
Import :
Against L/C
Terms of Sale
Local : Cash or
Credit
Export : Against L/C
Export Market
Global
CERTIFICATIONS
N/A
Subsidiaries / Affiliates
v
Imation Nexsan Solutions
v
Imation Canada
v
Imation Chile SA
v
Imation UK Limited
v
Imation Germany
v
Imation Middle East FZE
v
Imation Italy
v
Imation Hong Kong Limited
v
Imation Taiwan
v
Imation Korea Inc.
v
Imation ANZ Pty Ltd
v
Imation (India) Pvt Ltd
v
Imation Singapore Pte Ltd
v
Imation Malaysia
v
Imation (Thailand) Ltd
v
Imation Philippines
FINANCES
Parent Company
Balance Sheet
As At 31 December
2014
Currency: USD (In
Millions)
|
Assets |
|
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Cash and Equivalents |
114.6 |
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TOTAL CASH AND SHORT TERM INVESTMENTS |
114.6 |
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Accounts Receivable |
134.4 |
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Other Receivables |
-- |
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TOTAL RECEIVABLES |
134.4 |
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Inventory |
57.7 |
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Prepaid Expenses |
-- |
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Deferred Tax Assets, Current |
-- |
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Restricted Cash |
-- |
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Other Current Assets |
32.7 |
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TOTAL CURRENT ASSETS |
339.4 |
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Gross Property Plant and Equipment |
184.0 |
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Accumulated Depreciation |
-139.0 |
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NET PROPERTY PLANT AND EQUIPMENT |
45.0 |
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Goodwill |
36.1 |
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Deferred Tax Assets, Long Term |
-- |
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Deferred Charges, Long Term |
-- |
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Other Intangibles |
57.9 |
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Other Long-Term Assets |
20.8 |
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TOTAL ASSETS |
499.2 |
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LIABILITIES & EQUITY |
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Accounts Payable |
95.5 |
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Accrued Expenses |
45.3 |
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Short-Term Borrowings |
18.9 |
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Other Current Liabilities, Total |
52.9 |
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Unearned Revenue, Current |
-- |
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TOTAL CURRENT LIABILITIES |
212.6 |
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Pension & Other Post-Retirement
Benefits |
22.5 |
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Deferred Tax Liability Non-Current |
-- |
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Other Non-Current Liabilities |
23.3 |
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TOTAL LIABILITIES |
258.4 |
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Common Stock |
0.4 |
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Additional Paid in Capital |
1,034.6 |
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Retained Earnings |
-699.9 |
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Treasury Stock |
-9.5 |
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Comprehensive Income and Other |
-84.8 |
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TOTAL COMMON EQUITY |
240.8 |
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TOTAL EQUITY |
240.8 |
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TOTAL LIABILITIES AND EQUITY |
499.2 |
Parent Company
Income Statement
For the Year Ended
December 2014
Currency: USD (In
Millions)
|
Revenues |
729.5 |
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TOTAL REVENUES |
729.5 |
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Cost of Goods Sold |
586.5 |
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GROSS PROFIT |
143.0 |
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Selling General & Admin Expenses,
Total |
174.7 |
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R&D Expenses |
18.8 |
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Other Operating Expenses |
6.2 |
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OTHER OPERATING EXPENSES, TOTAL |
199.7 |
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OPERATING INCOME |
-56.7 |
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Interest Expense |
-2.6 |
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Interest and Investment Income |
0.5 |
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NET INTEREST EXPENSE |
-2.1 |
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Currency Exchange Gains (Loss) |
-2.2 |
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Other Non-Operating Income (Expenses) |
-0.9 |
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EBT, EXCLUDING UNUSUAL ITEMS |
-61.9 |
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Merger & Restructuring Charges |
-10.2 |
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Impairment of Goodwill |
-35.4 |
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Gain (Loss) on Sale of Assets |
-1.8 |
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Other Unusual Items, Total |
-- |
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Legal Settlements |
-- |
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Other Unusual Items |
-- |
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EBT, INCLUDING UNUSUAL ITEMS |
-109.3 |
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Income Tax Expense |
3.1 |
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Earnings from Continuing Operations |
-112.4 |
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EARNINGS FROM DISCOUNTINUED OPERATIONS |
-2.3 |
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NET INCOME |
-114.7 |
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NET INCOME TO COMMON INCLUDING EXTRA ITEMS |
-114.7 |
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NET INCOME TO COMMON EXCLUDING EXTRA ITEMS |
-112.4 |
No banker information is available in our database.
SC is considered large-sized in its line with a development history of
19 years. Company can be considered good for normal business dealings at usual trade
terms and conditions. Taking into consideration of SC’s general performance and
financial situation, a credit line up to USD 100,000 would appear to be within
SC’s capacities.
As per your request, client name was revealed as “Audio Partnership
PLC”.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.58 |
|
|
1 |
Rs.102.29 |
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Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.