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Report No. : |
343045 |
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Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
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Name : |
DASSAULT SYSTEMES KK |
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Registered Office : |
Think Park Tower 20F, 2-1-1 Osaki Shinagawaku Tokyo 141-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
May, 1994 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import and Wholesale of Industrial CAD Software, PLM Solution (Parent’s Products) |
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No. of Employees : |
390 |
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 : |
Yen 615.0 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 |
DASSAULT SYSTEMES KK
REGD NAME: Dassault
Systems KK
MAIN OFFICE: Think
Park Tower 20F, 2-1-1 Osaki Shinagawaku Tokyo 141-0032 JAPAN
Tel: 03-4321-3485 Fax: 03-4321-3501
URL: http://www.3ds.com
E-Mail address: (thru the URL)
Import, wholesale
of industrial CAD software, PLM Solution (parent’s products)
Nagoya, Osaka,
Toyoda (Tot 3)
Paris
(Headquarter), Boston (USA) (Tot 2)
SEIJI KAJIYA, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 43,771 M
PAYMENTSREGULAR CAPITAL Yen 2,175 M
TREND STEADY WORTH Yen 7,161 M
STARTED 1994 EMPLOYES 390
TRADING FIRM SPECIALIZING IN INDUSTRIAL AD SOFTWARE, OWNED BY DASSAULT SYSTEMS (FRANCE).
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 615.0
MILLION, ON 30 DAYS NORMAL TERMS.
The subject company
is a trading firm established by Dassault Systems (France) as its marketing office in Japan. The firm imports
and wholesales industrial CAD software, PLM solutions, other (the products of
the French parent) (See OPERATION). Clients include major car mfrs, other
The sales volume
for Dec/2014 fiscal term amounted to Yen 43,771 million, an 11% up from Yen
39,408 million in the previous term.
This is contributed to the merger of sister companies during the term,
and sales rose. The recurring profit was
posted at Yen 3,209 million and the net profit at Yen 2,178 million,
respectively, compared with Yen 1,452 million recurring profit and Yen 1,448
million net profit, respectively, a year ago.
For the current term ending Dec 2015 the recurring profit is projected
at Yen 3,300 million and the net profit at Yen 2,250 million, respectively, on
a 5% rise in turnover, to Yen 45,950 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit
limit is estimated at Yen 615.0 million, on 30 days normal terms.
Date Registered:
May 1994
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 43,500 shares
Issued: 43,500 shares
Sum: Yen 2,175 million
Major
shareholders (%): Dassault Systemes (France) (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales industrial CAD software: PLM Solutions (the parent’s products):
CATIA, DELMIA, ENOVIA, SIMULIA, 3DVIA, EXAKED, GEOVIA, other
Clients: [Mfrs,
wholesalers] Toyota Motor, Honda Motor, Alco Graphics, Otsuka Corp, Zuken Inc,
other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Dassault Systemes (France) and Group firms
Payment
record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased
and maintained satisfactorily.
Bank
References:
MUFG
(Tamachi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
|
Annual
Sales |
|
45,950 |
43,771 |
39,408 |
36,279 |
|
Recur.
Profit |
|
2,300 |
2,209 |
1,452 |
1,498 |
|
Net
Profit |
|
2,250 |
2,178 |
1,448 |
1,492 |
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Total
Assets |
|
|
31,213 |
26,298 |
27,296 |
|
Current
Assets |
|
|
15,487 |
9,896 |
10,050 |
|
Current
Liabs |
|
|
22,669 |
18,676 |
18,406 |
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Net
Worth |
|
|
7,161 |
4,973 |
3,505 |
|
Capital,
Paid-Up |
|
|
2,175 |
2,175 |
2,175 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.98 |
11.07 |
8.62 |
2.19 |
|
Current Ratio |
|
.. |
68.32 |
52.99 |
54.60 |
|
N.Worth Ratio |
|
.. |
22.94 |
18.91 |
12.84 |
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R.Profit/Sales |
|
5.01 |
5.05 |
3.68 |
4.13 |
|
N.Profit/Sales |
|
4.90 |
4.98 |
3.67 |
4.11 |
|
Return On Equity |
|
.. |
30.41 |
29.12 |
42.57 |
Notes: Forecast (or estimated) figures for the
31/12/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.10 |
|
|
1 |
Rs.100.89 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.