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Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SCHINDLER ELEVATOR KK |
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Registered Office : |
YK Bldg 8F, 1-2-21 Etchujima Kotoku Tokyo 135-0044 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
June, 1954 |
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Reg. No.: |
0106-01-029743 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of elevators, escalators |
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No. of Employees : |
312 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 (31.03.2011) |
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.
|
Source : CIA |
SCHINDLER ELEVATOR
KK
Schindler Elevator KK
YK Bldg 8F, 1-2-21 Etchujima Kotoku Tokyo 135-0044 JAPAN
Tel: 03-5646-5662 Fax:
03-5646-5369
E-Mail address: info@schindler.jp
Mfg of elevators, escalators
Yokohama, Nagoya, Osaka, Fukuoka, other (Tot 41)
Switz (parent company)
Fukuroi (Shizuoka)
MICHIAKI OTSUKI, PRES Philippe
Boue, rep dir
Tomoyuki Nishimura, dir Hidetoshi
Ogura, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 5,935 M
PAYMENTS REGULAR CAPITAL Yen
500 M
TREND STEADY WORTH Yen
2,816 M
STARTED 1954 EMPLOYES 312
MFR OF ELEVATORS & ESCALATORS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Schindler Holding Ltd (Switz) as
its mfg and marketing base in Japan.
This is a specialized mfr of elevators and escalators, including
maintenance, repairs, other related services.
Clients include major building offices, public agencies, general
contractors, supermarkets, others. The
firm’s elevators had two accidents in the past, killing persons at the
accidents. One was in Jun/2006 in
Minatoku Tokyo, where a high school boy was killed; the other is as recent as
in Oct/2012 at a hotel in Kanazawa, killing a woman. In both cases the elevators moved with their
doors open and the two were stuck between elevator doors and the floors. Police investigated. The Ministry of Land, Infrastructure and
Transport sent special instructions/orders to the firm for the maintenance,
services and operations. The recent case
is still being investigated. The use of
their elevators/escalators is being decreased, as reported.
The sales volume for Dec/2011 fiscal term amounted to Yen 5,935 million,
an 8% up from Yen 5,474 million in the previous term. The recurring profit was posted at Yen 633
million and the net profit at Yen 734 million, respectively, compared with Yen
284 million recurring profit and yen 434 million net profit, respectively, a
year ago.
For the current term ending Dec 2012 the recurring profit is projected
at Yen 640 million and the net profit at Yen 740 million, respectively, on a 1%
rise in turnover, to Yen 6,000 million.
Sales may decline under the projections.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 154.8 million, on 30 days normal terms.
Date Registered: Jun 1954
Regd No.: 0106-01-029743 (Tokyo-Kotoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 1
million shares
Issued:
1 million shares
Sum: Yen 500 million
Major shareholders
(%): Schindler Holdings AG (99.9)
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
elevators, escalators, including planning, engineering, production,
installation,
maintenance,
repairing, modernization & replacement, other related services (--100%)
Clients: Business firms,
public agencies, local governments, general contractors, supermarkets,
condominiums,
other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Schindler Group firms, Tokyo Elevators, Fuji Electric Co &
group firms, Yamazaki Electric Ind, Mercury Ascensore Co, Kansai-Kinzoku Ind,
other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Nihombashi)
MUFG (Nihombashi)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
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Annual Sales |
|
6,000 |
5,935 |
5,474 |
5,363 |
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Recur. Profit |
|
640 |
633 |
284 |
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Net Profit |
|
740 |
734 |
434 |
1,237 |
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Total Assets |
|
|
6,366 |
6,699 |
6,645 |
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Current Assets |
|
|
2,339 |
2,243 |
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Current Liabs |
|
|
1,292 |
1,752 |
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Net Worth |
|
|
2,816 |
2,081 |
1,647 |
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Capital, Paid-Up |
|
|
500 |
500 |
500 |
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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 |
1.10 |
8.42 |
2.07 |
-14.47 |
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Current Ratio |
.. |
181.04 |
128.03 |
.. |
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N.Worth Ratio |
.. |
44.23 |
31.06 |
24.79 |
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R.Profit/Sales |
10.67 |
10.67 |
5.19 |
.. |
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N.Profit/Sales |
12.33 |
12.37 |
7.93 |
23.07 |
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Return On Equity |
.. |
26.07 |
20.86 |
75.11 |
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Notes: Forecast (or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
RATING EXPLANATIONS
|
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.