MIRA INFORM REPORT

 

 

Report Date :           

03.11.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

CARGOTEC JAPAN LTD

 

 

Registered Office :

Suzue Baydium Bldg 9F, 1-15-1 Kaigan Minatoku-Tokyo 105-0022

 

 

Country :

Japan

 

 

Date of Incorporation :

September 1984

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of hydraulic equipment; mfg of marine equipment

 

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

 

Maximum Credit Limit :

Yen 157.5 Million

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

---

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name

 

CARGOTEC JAPAN LTD

 

 

REGD NAME

 

Cargotec Japan KK

 

 

MAIN OFFICE

 

Suzue Baydium Bldg 9F, 1-15-1 Kaigan Minatoku-Tokyo 105-0022 JAPAN

Tel: 03-5403-1951      Fax: 03-5403-1953

                                               

URL:                             http://www.cargotec.com

E-Mail address:                        mailto.hiab.japan@cargotec.com

 

 

ACTIVITIES

 

Import, wholesale of hydraulic equipment; mfg of marine equipment

 

 

BRANCHES

 

Tsu (Mie), Kobe

 

 

FACTORIES

 

Tsu (Mie), Takasaki (Gunma)

 

 

OFFICERS

 

IKUMA SADAKANE, PRES                   

 

Yen Amount:     In million Yen, unless otherwise stated

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 9,000 M*

PAYMENTS                  REGULAR                     CAPITAL           Yen 150 M

TREND             SLOW                          WORTH            Yen 6,392 M

STARTED                     1984                             EMPLOYES      100

                                                                     *.. Estimated figures only

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN HYDRAULIC EQUIPMENT, WHOLLY OWNED BY CARGOTEC, FINLAND.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 157.5 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established originally as a JV between Cargotec Finland and KYB Co, mfr of hydraulic equipment, Tokyo, as McGregor-Kayaba Ltd.  In Mar 2010, the Finnish parent acquired the 25% of the share and made its wholly owned subsidiary.  And renamed as captioned in Sept/2010.  This is a trading firm, with mfg division, for import and wholesale of hydraulic equipment (see OPERATION), and mfg marine equipment.  In 2010, the Finnish parent bought the remaining 25% share in the JV MacGregor-Kayaba Ltd and made its wholly owned subsidiary in Japan.  Clients include major shipbuilders, other.

 

 

FINANCIAL INFORMATION

 

Financial are consolidated by the Finnish parent and not individually disclosed, except the following.  The last disclosed was for the Dec/2006 fiscal term, when the sales are reported at Yen 9,848 million.  No profits were disclosed.

 

The sales volume for Dec/2010 fiscal term is estimated amounted to Yen 9,000 million, a similar amount in the previous term.  Total assets Yen 14,858 million, net worth Yen 6,392 million, as disclosed.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 157.5 million, on 30 days, assessed by the estimated sales figures for Dec/3010 term.

 

 

REGISTRATION

 

Date Registered:  Sept 1984

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         300,000 shares

Issued:             300,000 shares

Sum:                   Yen 150 million

Major shareholders (%): Cargotec (Finland) (100)

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Imports and wholesales hydraulic equipment (pumps, valves, motors, unit devices); manufactures marine equipment (mooring equipment, offshore & load handling equipment) (--100%).

 

(Handling Items): loader crane, forklift, truck-mounted forklift, tail lifts, log lift, marine equipment, mooring equipment, multi-lift equipment, other.

 

Clients: [Shipbuilders] Mitsui Engineering & Shipbuilding Co, Kanax Corp, Universal Shipbuilding Corp, IHI Marine United Inc, other

            No. of accounts: 200

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Cargotec Finland and group firms, Hirao Kogyo, Shibaoka Sangyo, Nichitsu Co, other

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

·         Mizuho Bank (Hamamatsucho)

·         MUFG (Shimbashi)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

UNDISCLOSED AND UNAVAILABLE

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.28

UK Pound

1

Rs.80.08

Euro

1

Rs.68.45

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.