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MIRA
INFORM REPORT
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Report No. : |
491432 |
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Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
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Name : |
NMB TECHNOLOGIES
CORPORATION |
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Formerly Known As : |
NIPPON MINIATURE BEARING
CORPORATION. |
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Registered Office : |
Yasunari Kuwano, Registered
Agent, 9730 Independence Avenue, Chatsworth Ca 91311 |
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Country : |
United States |
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Date of Incorporation : |
22.07.1968 |
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Legal Form : |
Domestic Stock |
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Line of Business : |
Subject designs and manufactures bearings, fans and blowers, and
motors. It offers cooling fans and blowers, precision small motors,
mechanical bearing assemblies, and programmable LED drivers. The company
offers its products for personal computing, networking, telecommunications,
home entertainment, home electronics, automotive, medical, and industrial
markets. It provides its products through distributors in the United States
and Canada. |
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No. of Employees : |
174 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.
Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.
In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.
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Source : CIA |
STATUTORY INFORMATION |
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Legal name : |
NMB TECHNOLOGIES CORPORATION |
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Trade
Name: |
NMB TECHNOLOGIES |
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ID: |
C0549613 |
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Date
Created: |
1968 |
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Date
Incorporated: |
07/22/1968 |
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Legal
Address: |
YASUNARI KUWANO, Registered
Agent 9730 INDEPENDENCE AVENUE CHATSWORTH CA 91311 USA |
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Operative
Address: |
39830 Grand River Avenue Novi, MI 48375 USA |
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Telephone:
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818-341-3355 248-919-2250 |
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Fax: |
818-341-8207 |
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Legal
Form: |
DOMESTIC STOCK |
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Email: |
info@nmbtc.com |
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Registered
in: |
CALIFORNIA |
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Website:
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www.nmbtc.com |
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Contact: |
Richard LaPlace, President Yasunari Kuwano, Registered
Agent |
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Staff: |
174 |
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Activity: |
NAICS 1: Computer and Computer
Peripheral Equipment and Software Merchant Wholesalers SIC 1: Computer Peripheral
Equipment |
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BANKS |
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The company does not make its banking data public |
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HISTORY |
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NMB Technologies Corporation was founded in 1968. MinebeaMitsumi Inc. was founded in 1951 |
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Key
Developments: |
The company was formerly known as Nippon Miniature Bearing
Corporation. NMB Technologies Corporation Announces Richard LaPlace as New
President Aug 14 17 NMB Technologies Corporation announced the appointment of Richard LaPlace
as President. Richard LaPlace is succeeding Gerry Fay. Richard LaPlace brings
20 years of experience with NMB, and a rich knowledge of MinebeaMitsumi's
global business to this new position. His experience and long tenure in sales
management and global business management, and most recently as Director of
Sales and Motor Product, places him as the best choice to take on the helm of
the company. Richard and his family will be relocating to Novi, MI, where the
company headquarters are located. WPG Americas Inc. Announces a New Franchise Agreement with NMB
Technologies Corporation to Distribute Their Full Line of Cooling Fans and
Blowers Feb 2 17 WPG Americas Inc. announced a new franchise agreement with NMB
Technologies Corporation to distribute their full line of cooling fans and
blowers. These products improve accuracy, efficiency and performance of a
variety of applications such as medical diagnostic equipment, horticultural
lighting & industrial machinery and controls. Mouser Electronics Signs Distribution Deal with NMB Technologies
Corporation Mar 11 16 Mouser Electronics, Inc. announced a global distribution agreement
with NMB Technologies Corporation. The NMB product line, now available at
Mouser Electronics, comprises AC and DC axial and high-power fans in varying
sizes, input voltages, and air flow (cubic feet per minute, or CFM). Axial
fans, the most common and cost-effective type of cooling fan, move air in a
straight line or axis and work best in low-pressure and low-system-impedance
environments. NMB AC axial fans are available in 119mm and 150mm flanged
housings with voltages from 100V to 240V, providing options for use in
countries requiring varying mains voltages. NMB DC axial fans are available
in 150mm rib-mount housing and 119mm, 150mm, and 172mm flange-mount housings
in 12V, 24V, and 48V voltages. This new distribution agreement provides
Mouser Electronics' customers with a broad selection of axial fans for
managing component temperature in telecom, information technology,
industrial, and consumer-based applications. |
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PRINCIPAL ACTIVITY |
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NMB Technologies Corporation is
a mid-sized organization in the computer wholesale and manufacturers industry
incorporated in Chatsworth, CA. |
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Products/Services description: |
NMB Technologies Corporation
designs and manufactures bearings, fans and blowers, and motors. It offers
cooling fans and blowers, precision small motors, mechanical bearing
assemblies, and programmable LED drivers. The company offers its products for
personal computing, networking, telecommunications, home entertainment, home
electronics, automotive, medical, and industrial markets. It provides its
products through distributors in the United States and Canada. NMB is part of the
MinebeaMitsumi Group of Companies. MinebeaMitsumi Inc. is a comprehensive
manufacturer of high precision components. |
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Brands: |
NA |
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Sales are: |
Wholesale |
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Clients: |
Keihin De Mexico Mexico REFRIGCN OJEDA SA CV Mexico Corimpe Representaciones Limitada. Colombia |
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Suppliers: |
Tianjin Mitsumi Electric Co Ltd China Shanghai Shunding Technologies
Ltd. China Nmb Minebea Thai Ltd. Thailand Celestica De Monterrey Mexico |
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Operations area: |
National and International |
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The company imports from |
China, Thailand and Mexico |
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The company exports to |
Mexico and Colombia |
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The subject
employs |
174 employees |
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Payments:
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Regular |
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LOCATION |
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Headquarters
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39830 Grand River Avenue Novi, MI 48375 USA |
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Comments: |
NA |
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Branches: |
No branches found |
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Main
Competitors |
Joli Enterprises 9800 Variel Ave Daewon Imaging America Inc. 19841 Nordhoff Pl Computer Systems Management Inc 9661 Andora Ave |
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Related
Companies: |
Asia Contact Information Tel:81-3-6758-6748 Email:
htomonaga@minebeamitsumi.com Corporate Asia Headquarters Sumitomo Fudosan Mita Twin
Bldg. West Wing, 3-5-27, Mita,
Minato-ku, Tokyo 108-6319 Japan Europe Contact Information Tel: +49 (0) 6103-913-0 Email: info_de@nmb-minebea.com Corporate European Headquarters NMB-Minebea-GmbH Siemensstrasse 30 63225 Langen Deutschland Tel: +49 (0) 6103-913-0 Fax: +49 (0) 6103-913-220 NMB Minebea S.ARL. 5, Avenue des Bosquets Les Ponts de Ballet, 95560, Ballet en France France Tel: 33-1-34083939 Fax: 33-1-34083930 NMB Italia S.R.L. Via A, Grandi, 39-41 20017 Mazzo Di Rho Milan Italy Tel: 39-02-939711 Fax: 39-02-93901154 e-mail: info@nmbitalia.it NMB Minebea GmbH Siemensstraße 30 63225 Langen Deutschland Telefon: +49 (0) 6103-913-0 Fax: +49 (0) 6103-913-220 e-mail:
info_de@nmb-minebea.com |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES |
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a private company. The company does not
disclose information on shareholders. The following information has been
obtained through private sources and could not be confirmed: NMB Technologies Corporation operates as a
subsidiary of: NMB (USA), Inc. 9730 Independence Avenue Chatsworth, CA 91311 United States Global Headquarters: MinebeaMitsumi Inc. 3-9-6 Mita Minato-ku Tokyo 108-8330 Japan MinebeaMitsumi Group encompasses 42 subsidiaries and affiliates, which operate 36 manufacturing plants
and 40 sales offices in 18 countries and employ over 80,000 people. |
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Management: |
Richard LaPlace, President Skip Kinford, Executive Vice-President Myron Jones, Executive Vice-President Marty Yamanaka, Executive Sarah Derosier, Executive Yama Yamazaki, Executive Claire Stubbs, Manager Retirement Programs |
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FINANCIAL INFORMATION |
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The company does not make its financial statements public. The
following information has been provided by private sources: |
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USD 2016 |
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Revenue |
20,000,000 |
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Cash
flow |
Normal |
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We also attach the latest financial statements of MinebeaMitsumi Inc. |
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LEGAL FILINGS |
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Filling
History |
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Cases |
Small Bearings - Direct Actions
Filed: August 31, 2017 as
2:2017cv04201 Plaintiff: McGuire Bearing
Company Defendant: MINEBEA MITSUMI
Inc., NMB (USA) Inc., NMB Technologies Corporation Cause Of Action: Antitrust
Litigation Court: Sixth Circuit › Michigan
› Michigan Eastern District Court Type: Other Statutes ›
Antitrust McGuire Bearing Company v.
MINEBEA MITSUMI Inc. et al Plaintiff: McGuire Bearing
Company Defendant: MINEBEA MITSUMI
Inc., NMB (USA) Inc. and NMB Technologies Corporation Case Number: 5:2017cv10853 Filed: March 17, 2017 Court: Michigan Eastern
District Court Office: Detroit Office County: Wayne Presiding Judge: Marianne O.
Battani Referring Judge: Mona K.
Majzoub Nature of Suit: Antitrust Cause of Action: 15:1 Jury Demanded By: Plaintiff |
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UCC |
No records found |
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Trademarks |
NOTHING'S MADE BETTER -
Trademark Details Status: 606 - Abandoned - No
Statement Of Use Filed Image for trademark with serial
number 76395090 Serial Number76395090 Word Mark NOTHING'S MADE BETTER Status606 - Abandoned - No
Statement Of Use Filed Status Date2005-03-15 Filing Date2002-04-12 Mark Drawing1000 - Typeset:
Word(s)/letter(s)/number(s) Typeset Published for Opposition
Date2004-06-22 Attorney Name Kendall C. Reed Law Office Assigned Location
CodeM40 Employee Name WATSON, JULIE A IFAN - Trademark Details Status: 602 - Abandoned-Failure
To Respond Or Late Response Image for trademark with serial
number 76384691 Serial Number76384691 Word Mark IFAN Status602 - Abandoned-Failure
To Respond Or Late Response Status Date2003-10-18 Filing Date2002-03-20 Mark Drawing1000 - Typeset:
Word(s)/letter(s)/number(s) Typeset Attorney Name Christopher
Chaudoir Law Office Assigned Location
CodeM50 Employee Name OH, WON TEAK NMBTC - Trademark Details Status: 602 - Abandoned-Failure
To Respond Or Late Response Image for trademark with serial
number 76395089 Serial Number76395089 Word Mark NMBTC Status602 - Abandoned-Failure
To Respond Or Late Response Status Date2003-03-28 Filing Date2002-04-12 Mark Drawing1000 - Typeset:
Word(s)/letter(s)/number(s) Typeset Attorney Name Kendall C. Reed Law Office Assigned Location
CodeM40 Employee Name LE, KHANH M |
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OFAC Sanctions List Search |
The company is not listed
in the OFAC list. |
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SUMMARY |
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Founded in 1968, NMB Technologies Corporation is a
mid-sized organization in the computer wholesale and manufacturers industry
incorporated in Chatsworth, CA. The company has 174 full-time employees and
generates an estimated USD 20 million in annual revenue. The company imports from China, Thailand and Mexico,
and exports to Mexico and Colombia, operating within national and
international markets. NMB Technologies Corporation operates as a
subsidiary of NMB (USA), Inc. Global Headquarters: MinebeaMitsumi Inc. This has been an ACTIVE company incorporated in
California in 1968. |
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RISK INFORMATION |
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH
FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW |
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NAME |
Brandon |
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POSITION |
Operator |
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COMMENTS |
He confirmed legal name, trade
name, address, website, telephone and principal activity. He explained that he could not
confirm further information through the phone, but explained that all the
necessary information is available at the company´s website. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.28 |
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1 |
INR 89.02 |
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Euro |
1 |
INR 78.93 |
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USD |
1 |
INR 64.26 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
NIY |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.