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Report Date : |
13.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ESCARBO SHEET CO LTD |
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Registered Office : |
1004 Yamasaki Koguriyama-Machi
Mitsuke Niigata-Pref 954-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
June 2002 |
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Com. Reg. No.: |
1100-01-015056 (Niigata-Mitsuke) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of synthetic resin sheet & film |
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No. of Employees : |
76 employees |
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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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
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 a technologically 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. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - 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 after effects 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further into recession. 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
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Source : CIA |
ESCARBO SHEET CO LTD
Escarbo Sheet KK
1004 Yamasaki Koguriyama-Machi
Mitsuke Niigata-Pref 954-0002 JAPAN
Tel:
0258-61-1515 Fax: 0258-61-1520
URL: N/A
Mfg of
synthetic resin sheet & film
Nil
At the
caption address, Sanjo
KAZUHIKO
HATAKEYAMA, PRES
Yoshikazu
Hatakeyama, ch Takayuki
Ohashi, dir
Nobuaki
Matsumoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 4,065 M
PAYMENTSSlow but Correct CAPITAL Yen
10 M
TREND SLOW WORTH Yen 271 M
STARTED 2002 EMPLOYES 76
MFR OF SYNTHETIC RESIN SHEET/FILMS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Sanko Sogyo Co Ltd (See REGISTRATION) as its mfg division of
synthetic resin products & other chemical products. This is a specialized mfr of synthetic resin
sheets & films, other. Materials are
supplied from the parent, Sanko Sogyo Co.
Clients include major chemical mfrs.
Financials are only partially disclosed.
The sales volume for May/2012 fiscal term amounted to Yen 4,065 million,
a shade down from Yen 4,070 million in the previous term. This is referred to the hike in material
prices. The net profit was posted at Yen
8 million, compared with Yen 14 million a year ago.
For the current term ending May 2013 the net profit is projected at Yen
10 million, on a 2% rise in turnover, to Yen 4,150 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun 2002
Regd
No.: 1100-01-015056 (Niigata-Mitsuke)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Sanko Sogyo Co Ltd* (50),
Sumitomo Chemical Ind (30), other
No. of shareholders: 7
*.. Trading firm specializing in synthetic resin materials, Niigata,
founded 1977, capital Yen 20 million, sales Yen 6,659 million, net profit Yen 145
million, employees 23, pres Yoshikazu Hatakeyama
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
synthetic resin sheets & films, other resin products (--100%)
Clients: [Mfrs,
wholesalers] Sumitomo Chemical Ind, Asahi Kasei, Iwatani Corp, Yamato Industry,
other
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sanko Sogyo Co, other
Payment record: Slow but
Correct
Location: Business area in
Mitsuke City (Niigata-Pref). Office
premises at the caption address are owned and maintained satisfactorily.
Bank
References:
Daishi Bank (Sanjo-Higashi)
Mizuho Bank (Niigata)
Relations: Satisfactory
(In Million Yen)
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31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
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Annual
Sales |
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4,150 |
4,065 |
4,070 |
4,038 |
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Recur.
Profit |
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Net
Profit |
|
10 |
8 |
14 |
35 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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|
271 |
263 |
249 |
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Capital,
Paid-Up |
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|
10 |
10 |
10 |
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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 |
2.09 |
-0.12 |
0.79 |
-0.30 |
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Current Ratio |
.. |
.. |
.. |
||
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N.Worth Ratio |
.. |
.. |
.. |
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N.Profit/Sales |
0.24 |
0.20 |
0.34 |
0.87 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
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UK Pound |
1 |
Rs.87.43 |
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Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.