MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
AMERICAN
ENGINEERING CORPORATION |
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Registered Office : |
7-8-13 |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
Apr 1964 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Civil engineering works |
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 Limit : |
Yen 110.7 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
AMERICAN
ENGINEERING CORPORATION
REGD NAME
American
Engineering Corporation
MAIN OFFICE
7-8-13
Tel : 098-897-6781
Fax : 098-897-1086
URL : http://www.aec-japan.co.jp
E-Mail
address: (thru the URL)
ACTIVITIES
Civil
engineering works
BRANCHES
OFFICERS
E S
Robert Marc, ch
B R
GILBERT, PRES
Tadatoshi
Nakamoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 9,233 M
PAYMENTS REGULAR CAPITAL Yen 31 M
TREND STEADY WORTH Yen
1,671 M
STARTED 1964 EMPLOYES 300
COMMENT
CIVIL ENGINEERING WORKS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 110.7 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1954 as
Branch Office by Hong Kong-based company and was incorporated in 1964. This is a civil engineering company, owned by
two Americans, offering and supporting
FINANCIAL INFORMATION
The sales volume for Dec/2006 fiscal term amounted to Yen 9,233 million, a 50% steep rise from Yen 6,164 million in the previous term. Some large-lot orders are said procured. This is said to relate to the relocation of camps, offices, other, but not confirmed. The recurring profit was posted at Yen 998 million and the net profit at Yen 556 million, respectively, compared with Yen 252 million recurring profit and Yen 160 million net profit, respectively, a year ago.
For the current term ending Dec 2007 the recurring profit is projected at Yen 1,000 million and the net profit at Yen 570 million, respectively, on an 8% rise in turnover, to Yen 10,000 million. Business is seen on the upswing.
The financial situation is considered FAIR to GOOD and good for ORDINARY business engagements. Max credit limit is estimated at Yen 110.7 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Apr 1964
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 63,080 shares
Issued: 63,080 shares
Sum: Yen
31.54 million
Major shareholders (%): E S
Robert Marc (50), B R Gilbert (50)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Civil engineering works offering quality design, construction, maintenance, materials supply / procurement, other related services to US Military bases/government in Okinawa (--100%).
Clients: [
No. of
accounts: 1,000
Domestic
areas of activities: Centered in Okinawa-Pref
Suppliers:
[Mfrs, wholesalers] Daikin Air-Conditioning Okinawa, West Pack, Walters, etc.
Payment
record: Regular
Location: Business area in
Bank References
Okinawa
Bank (Makiminato)
Bank
of Ryukyus (Futenma)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual
Sales |
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10,000 |
9,233 |
6,164 |
4,843 |
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Recur.
Profit |
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1,000 |
998 |
252 |
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Net
Profit |
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570 |
556 |
160 |
255 |
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Total
Assets |
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9,669 |
10,012 |
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Current
Assets |
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8,180 |
8,530 |
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Current
Liabs |
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7,299 |
8,151 |
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Net
Worth |
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1,671 |
1,106 |
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Capital,
Paid-Up |
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31 |
31 |
31 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
8.31 |
49.79 |
27.28 |
23.29 |
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Current Ratio |
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.. |
112.07 |
104.65 |
.. |
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N.Worth Ratio |
.. |
17.28 |
11.05 |
.. |
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R.Profit/Sales |
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10.00 |
10.81 |
4.09 |
.. |
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N.Profit/Sales |
5.70 |
6.02 |
2.60 |
5.27 |
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Return On Equity |
.. |
33.27 |
14.47 |
.. |
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Notes:
Forecast (or estimated) for the 31/12/2007 fiscal term.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)