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Report No. : |
337936 |
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Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
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Name : |
RENESAS SEMICONDUCTOR PACKAGE & TEST SOLUTIONS CO LTD |
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Registered Office : |
111 Nishiyootemachi Takasaki City Gunma-Pref 370-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
Sept., 1969 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Semiconductors. |
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No. of Employees : |
1,634 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limits : |
Yen 785.9 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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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 |
RENESAS SEMICONDUCTOR PACKAGE & TEST SOLUTIONS
CO LTD
REGD NAME: Renesas
Semiconductor & Test Solutions KK
MAIN OFFICE: 111
Nishiyootemachi Takasaki City Gunma-Pref 370-0021 JAPAN
Tel: 027-353-7208 Fax: 027-353-7210
*.. The is its Oita Factory (Tot 3
Factories)
URL: http://www.respt.renessas.com
E-Mail address: (thru the URL)
Mfg of
semiconductors
Tokyo, Yamagata,
Kumamoto, Oita (Tot 4)
Yonezawa, Oita,
Kumamoto (Tot 3)
OSAMU NOGIMURA,
PRES Shinjiro Fujiwara, dir
Makoto Nakajima,
dir Naomi Kagaya, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 56,431 M
PAYMENTSREGULAR CAPITAL Yen 1,000 M
TREND SLOW WORTH Yen 10,728 M
STARTED 1969 EMPLOYES 1,634
MFR OF SEMICONDUCTORS, OWNED BY RENESAS
ELECTRONICS CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 785.9 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company
was established originally in 1969 and in 2014 became 100% owned subsidiary of
Renesas Electronics Corp (See REGISTRATION). This is a specialized mfr of semiconductors
(IC), other electronics parts
& accessories. 90% of the products are supplied to the parent.
The sales volume
for Mar/2015 fiscal term amounted to Yen 56,431 million, a 17% down from Yen
67,825 million in the previous term.
Operations became profitable from the last term. The recurring profit was posted at Yen 2,223
million and the net profit at Yen 563 million, respectively, compared with Yen
508 million recurring loss and Yen 5,008 million net losses, respectively, a
year ago.
For the current
term ending Mar 2016 the recurring profit is projected at Yen 2,300 million and
the net profit at Yen 1,600 million, respectively, on a 3% rise in turnover, to
Yen 58,100 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max
credit limit is estimated at Yen 785.9 million, on 30 days normal terms.
Date
Registered: Sept 1969
Legal
Status:
Authorized: 8
million shares
Issued:
2 million shares
Sum:
Yen 1,000 million
Major shareholders (%): Renesas Electronics Corporation* (100)
*.. Mfg of sensor resting equipment for use in semiconductors, LCD
panels, digital cameras & medical devices, Tokyo, founded 2002, listed
Tokyo S/E, sales Yen 791,074 million, operating profit Yen 104,427 million,
recurring profit Yen 105,335 million, net profit
Yen 82,365 million, total assets Yen 840,087 million, net worth Yen 309,529
million, employees 21,083, pres Tetsuya Tsurumaru
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
semiconductor, electronic parts & components, other (--100%)
Clients: [Mfrs,
wholesalers] Renesas Electronics Corp (90%), other
No. of accounts: Limited
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Renesas Electronics Corp (80%), other
Payment
record: Regular
Location: Business area in Takasaki. Office premises at the caption address are
owned and maintained satisfactorily.
Bank
References:
Mizuho
Bank (Kyobashi)
MUFG
(H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual
Sales |
|
58,100 |
56,431 |
67,825 |
84,302 |
|
Recur.
Profit |
|
2,300 |
2,223 |
-508 |
7,045 |
|
Net
Profit |
|
1,600 |
1,563 |
-5,008 |
4,498 |
|
Total
Assets |
|
|
61,454 |
56,077 |
67,478 |
|
Current
Assets |
|
|
20,351 |
17,367 |
24,852 |
|
Current
Liabs |
|
|
42,378 |
38,059 |
42,232 |
|
Net
Worth |
|
|
10,728 |
6,482 |
11,489 |
|
Capital,
Paid-Up |
|
|
1,000 |
1,000 |
1,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.96 |
-16.80 |
-19.55 |
-9.11 |
|
Current Ratio |
|
.. |
48.02 |
45.63 |
58.85 |
|
N.Worth Ratio |
|
.. |
17.46 |
11.56 |
17.03 |
|
R.Profit/Sales |
|
3.96 |
3.94 |
-0.75 |
8.36 |
|
N.Profit/Sales |
|
2.75 |
2.77 |
-7.38 |
5.34 |
|
Return On Equity |
|
.. |
14.57 |
-77.26 |
39.15 |
Notes: Forecast (or
estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.75 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.74.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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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.