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MIRA INFORM REPORT
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Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
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Name : |
EATON INDUSTRIES (JAPAN) LTD |
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Registered Office : |
Uruma Kowa Bldg,
8-11-37 Akasaka Minatoku Tokyo 107-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
October
1934 |
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Com. Reg. No.: |
(Tokyo-Minatoku) 045648 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of hydraulic equipment (pumps, valves, motors, other) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
Yen 403.5 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Japan |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
Company name
EATON INDUSTRIES (JAPAN) LTD
REGD NAME
Eaton KK
MAIN OFFICE
Uruma Kowa Bldg,
8-11-37 Akasaka Minatoku Tokyo 107-0052 JAPAN
Tel:
03-5786-2560 Fax: 03-5786-2561
*.. The given address is its Kyoto Plant
URL: http://www.eaton.com
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of hydraulic equipment (pumps, valves, motors, other)
BRANCHES
Osaka,
Fukuoka
FACTORIES
Kyoto
as given
OFFICERS
NORIYUKI
KIMATA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 8,400 M
PAYMENTS REGULAR CAPITAL Yen 412 M
TREND SLOW WORTH Yen 5,805 M*
STARTED 1974 EMPLOYES 248
*..
Figures as of Dec/2009 fiscal term
COMMENT
MFR OF
HYDRAULIC EQUIPMENT, WHOLLY OWNED BY EATON CORP, USA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 403.5
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established as a JV by Sumitomo Heavy Industries
Ltd and Eaton Corporation (USA). In Jan 2011,
changed the name as captioned. This is a
specialized mfr of hydraulic equipment (See OPERATION). Clients include major heavy machinery makers,
nationwide.
FINANCIAL INFORMATION
Financial are consolidated by the USA parent and only partially disclosed
as follows.
The sales volume for Dec/2009 fiscal term amounted to Yen 6,480 million,
a 47% down from Yen 12,300 million in the previous term. The operations plunged into the red to
register Yen 70 million net losses for the term. No profits or losses are disclosed for the
previous terms.
For the term that ended Dec/2010 fiscal term the sales were disclosed at
Yen 8,400 million, a 30% rise from the previous term. No profits or losses are disclosed. No other sources have any further information
at all.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 403.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1934
Regd No.: (Tokyo-Minatoku) 045648
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
825,000 shares
Issued: 825,000 shares
Sum: Yen 412.5 million
Major shareholders (%): Eaton Corporation (USA) (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
hydraulic equipment (100%)
(Mfg Items): Hydraulic Motors
(orbit motor, Dowmax motor, piston motor, vane motor, gear motor); Hydraulic
Pumps (piston pumps, vane pumps, gear pumps, hydrostatic transmission);
Hydraulic Vlves (orbitrol, torque generators, multi-control valves,
screw-in-cartridge valves, pressure control valve, flow control valve,
directional control valve); Cylinders (hydraulic cylinders); Filter (hydraulic
filter); Unit (hydraulic power unit); Hoses & Fittings (AQP-heat proof
hose, synflex hose, STC-snap to connect, waiterscheid-tube fitting system,
general hose & fitting), other
Clients: [Mfrs] Eaton
Corporation (USA) (20%), Sumitomo Heavy Machinery Ind, Kubota Corp, Komatsu
Corp, Caterpillar Japan, other (using sales agents over Japan)
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs] Eaton
Corporation (USA) (20%), Sumitomo Heavy Machinery Ind, NTN, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
·
SMBC (Tokyo)
·
Mizuho Bank (Iidabashi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2010 |
31/12/2009 |
31/12/2008 |
31/12/2007 |
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Annual
Sales |
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8,400 |
6,480 |
12,300 |
12,100 |
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Recur.
Profit |
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Net
Profit |
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-70 |
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Total
Assets |
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7,050 |
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Current
Assets |
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4,853 |
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Current
Liabs |
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1,246 |
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Net
Worth |
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5,805 |
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Capital,
Paid-Up |
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412 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
29.63 |
-47.32 |
1.65 |
0.00 |
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Current Ratio |
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389.49 |
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N.Worth Ratio |
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82.34 |
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.. |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.00 |
-1.08 |
0.00 |
0.00 |
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Return On Equity |
.. |
-1.21 |
.. |
.. |
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Notes:
Financials are only partially disclosed.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.14 |
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UK Pound |
1 |
Rs.75.97 |
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Euro |
1 |
Rs.65.99 |
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.