|
Report No. : |
337938 |
|
Report Date : |
16.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
RENESAS SEMICONDUCTOR MANUFACTURING CO., LIMITED |
|
|
|
|
Registered Office : |
751, Horiguchi, Hitachinaka-Shi, Ibaraki,
312-8504 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
1983 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer of Discrete Semiconductors And Integrated Circuits |
|
|
|
|
No. of Employees : |
385 |
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 |
|
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 |
In absence of Subject company’s financials, no credit limit could be recommended.
RENESAS SEMICONDUCTOR MANUFACTURING CO.,
LIMITED
751, HORIGUCHI, HITACHINAKA-SHI, IBARAKI,
312-8504, JAPAN
TEL: +81-29-272-3111 FAX: +81-29-270-1826
INCORPORATION DATE : 1983
REGISTRATION NO. : N/A
LEGAL FORM :
PRIVATE LIMITED
CHIEF EXECUTIVE : TETSUYA TSURUMARU (PRESIDENT)
STAFF STRENGTH : 385
PAID-UP CAPITAL : N/A
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : MODERATE AMOUNT
MARKET CONDITION : ACTIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : JPY 120.23
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
Head Office Toyosu
Foresia, 3-2-24 Toyosu, Koto-ku, Tokyo 135-0061, Japan
Telephone No +81-3-6773-3000
Fax No +81-3-6773-3333
Factory 751, Horiguchi, Hitachinaka-shi, Ibaraki, 312-8504,
Japan
Warehouse 751, Horiguchi,
Hitachinaka-shi, Ibaraki, 312-8504, Japan
The design is professional and the content is
well organized. At present it is in English, Chinese, Japanese, Korean,
Portuguese, Hindi and Russian versions.
E-mail: info@renesas.com
For the past two years there is no record of
litigation.
SHAREHOLDER
Name Renesas Electronics
Corporation
Share Percent 100%
Country Japan
DIRECTORS
Name Mr.
Tetsuya Tsurumaru
Designation President
& Representative Director
Nationality Japanese
LINE OF
BUSINESS
Manufacturer
RANGE OF
PRODUCTS
Discrete
Semiconductors And Integrated Circuits
Terms of
Purchase
Local :
Cash or Credit
Export :
Against L/C
Terms of
Sale
Local : Cash or Credit
Import : Against L/C
Export
Market
Global
CERTIFICATIONS
NIL
Renesas Electronics America Inc.
Renesas Electronics Canada Limited
Renesas Electronics Europe Limited
Renesas Electronics Europe GmbH
Renesas Electronics (China) Co., Ltd
Renesas Electronics (Shanghai) Co., Ltd
Renesas Electronics Hong Kong Limited
Renesas Electronics Taiwan Co., Ltd
Renesas Electronics Singapore Pte. Ltd
Renesas Electronics Malaysia Sdn.Bhd
Renesas Electronics India Pvt. Ltd
Renesas Electronics Korea Co., Ltd
Renesas Electronics Brasil-Servicos Ltda
Renesas Design Vietnam Co., Ltd
Renesas Semiconductor Design (Beijing) Co., Ltd
Renesas Semiconductor Design (Malaysia) Sdn. Bhd
Renesas System Design Co., Ltd
Renesas Engineering Services Co., Ltd
Renesas Semiconductor (Beijing) Co., Ltd
Renesas Semiconductor (Suzhou) Co., Ltd
Renesas Semiconductor Singapore Pte. Ltd
Renesas Semiconductor (Malaysia) Sdn. Bhd
Renesas Semiconductor (Kedah) Sdn. Bhd
Renesas Semiconductor Technology (M) Sdn. Bhd
Renesas Semiconductor KL Sdn. Bhd
Renesas Semiconductor Package & Test Solutions Co., Ltd
Parent
Company Balance Sheet
As At 31
March 2015
Currency:
Yen (In Millions)
|
Assets |
|
|
Cash and Equivalents |
344,000.0 |
|
Short-Term Investments |
-- |
|
TOTAL CASH AND SHORT TERM INVESTMENTS |
344,000.0 |
|
Accounts Receivable |
91,379.0 |
|
Other Receivables |
14,174.0 |
|
TOTAL RECEIVABLES |
105,553.0 |
|
Inventory |
111,421.0 |
|
Deferred Tax Assets, Current |
1,529.0 |
|
Other Current Assets |
8,560.0 |
|
TOTAL CURRENT ASSETS |
571,063.0 |
|
NET PROPERTY PLANT AND EQUIPMENT |
181,815.0 |
|
Goodwill |
-- |
|
Long-Term Investments |
56,851.0 |
|
Deferred Tax Assets, Long Term |
2,106.0 |
|
Other Intangibles |
28,252.0 |
|
TOTAL ASSETS |
840,087.0 |
|
|
|
|
LIABILITIES & EQUITY |
|
|
Accounts Payable |
85,639.0 |
|
Accrued Expenses |
36,875.0 |
|
Short-Term Borrowings |
-- |
|
Current Portion of Long-Term Debt/Capital
Lease |
7,835.0 |
|
Current Portion of Capital Lease
Obligations |
1,135.0 |
|
Current Income Taxes Payable |
43,122.0 |
|
Other Current Liabilities, Total |
12,587.0 |
|
TOTAL CURRENT LIABILITIES |
186,058.0 |
|
Long-Term Debt |
246,505.0 |
|
Capital Leases |
5,385.0 |
|
Minority Interest |
2,380.0 |
|
Pension & Other Post-Retirement
Benefits |
50,489.0 |
|
Deferred Tax Liability Non-Current |
11,641.0 |
|
Other Non-Current Liabilities |
28,100.0 |
|
TOTAL LIABILITIES |
528,178.0 |
|
Common Stock |
228,255.0 |
|
Additional Paid in Capital |
525,413.0 |
|
Retained Earnings |
-475,815.0 |
|
Treasury Stock |
-11.0 |
|
Comprehensive Income and Other |
31,687.0 |
|
TOTAL COMMON EQUITY |
309,529.0 |
|
TOTAL EQUITY |
311,909.0 |
|
TOTAL LIABILITIES AND EQUITY |
840,087.0 |
Parent
Company Income Statement
For the
Year Ended 31 March 2015
Currency:
Yen (In Millions)
|
Revenues |
791,074.0 |
|
TOTAL REVENUES |
791,074.0 |
|
Cost of Goods Sold |
472,303.0 |
|
GROSS PROFIT |
318,771.0 |
|
Selling General & Admin Expenses, Total |
123,262.0 |
|
R&D Expenses |
91,082.0 |
|
OTHER OPERATING EXPENSES, TOTAL |
214,344.0 |
|
OPERATING INCOME |
104,427.0 |
|
Interest Expense |
-3,166.0 |
|
Interest and Investment Income |
1,017.0 |
|
NET INTEREST EXPENSE |
-2,149.0 |
|
Income (Loss) on Equity Investments |
273.0 |
|
Currency Exchange Gains (Loss) |
4,626.0 |
|
Other Non-Operating Income (Expenses) |
-1,842.0 |
|
EBT, EXCLUDING UNUSUAL ITEMS |
105,335.0 |
|
Gain (Loss) on Sale of Investments |
-573.0 |
|
Gain (Loss) on Sale of Assets |
1,084.0 |
|
Other Unusual Items, Total |
-11,746.0 |
|
Legal Settlements |
-- |
|
Other Unusual Items |
-10,573.0 |
|
EBT, INCLUDING UNUSUAL ITEMS |
94,100.0 |
|
Income Tax Expense |
9,185.0 |
|
Minority Interest in Earnings |
-2,550.0 |
|
Earnings from Continuing Operations |
84,915.0 |
|
NET INCOME |
82,365.0 |
|
NET INCOME TO COMMON INCLUDING EXTRA ITEMS |
82,365.0 |
|
NET INCOME TO COMMON EXCLUDING EXTRA ITEMS |
82,365.0 |
No banker information is available in our database.
Company can be considered good for normal
business dealings at usual trade terms and conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.44 |
|
UK Pound |
1 |
Rs.102.41 |
|
Euro |
1 |
Rs.75.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TRU |
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.