MIRA INFORM REPORT
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Report No. : |
337937 |
|
Report Date : |
19.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
RENESAS SEMICONDUCTOR MANUFACTURING CO.,
LIMITED |
|
|
|
|
Registered Office : |
1-14-38 Takarada, Tsuruoka-Shi, Yamagata 997-8523 |
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Country : |
Japan |
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Date of Incorporation : |
1983 |
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Legal Form : |
Private Limited |
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|
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Line of Business : |
Manufacturer of Discrete
Semiconductors and Integrated Circuits |
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|
|
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No. of Employee : |
375 |
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 |
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|
|
|
Payment Behaviour : |
No complaints |
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|
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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 |
|
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 |
NOTE
In absence of subject company’s financials, no credit limit could be recommended.
company
name and address
RENESAS SEMICONDUCTOR MANUFACTURING CO., LIMITED
1-14-38 TAKARADA, TSURUOKA-SHI, YAMAGATA 997-8523, JAPAN
TEL: +81-29-272-3111 FAX: +81-29-270-1826
EXECUTIVE
SUMMARY
INCORPORATION DATE :
1983
REGISTRATION NO. :
N/A
LEGAL FORM :
PRIVATE LIMITED
CHIEF EXECUTIVE :
TETSUYA TSURUMARU (PRESIDENT)
STAFF STRENGTH :
375
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 120.346 = 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
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
Tsuruok Factory: 1-14-38 Takarada,
Tsuruoka-shi, Yamagata 997-0011, Japan
Warehouse 751, Horiguchi, Hitachinaka-shi, Ibaraki, 312-8504, Japan
Tsuruok Factory: 1-14-38 Takarada, Tsuruoka-shi, Yamagata 997-0011, 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.65.95 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SDA |
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.