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Report Date : |
26.12.2012 |
IDENTIFICATION DETAILS
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Name : |
APOLLO ELECTRIC CO LTD |
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Registered Office : |
1600-11Sagisaka-Naka Iwata City Shizuoka-Pref 438-0004 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2011 |
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Date of Incorporation : |
December 1968 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of transformer, power supply, battery charger |
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No. of Employees : |
70 |
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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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Status : |
Satisfactory |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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 third-largest economy
in the world after second-place China, which surpassed Japan in 2001, and in a
virtual tie with India. 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
APOLLO ELECTRIC CO LTD
REGD NAME: Apollo
Denki KK
MAIN OFFICE: 1600-11Sagisaka-Naka
Iwata City Shizuoka-Pref 438-0004 JAPAN
Tel:
0538-38-2228 Fax: 0508-38-2898
URL: http://www.apollo-elec.co.jp
E-Mail address: (thru thee URL
Mfg of
transformer, power supply, battery charger
Tokyo, Hamamatsu
China
Machida, Hamamatsu
SATORU OTA, PRES Akira Ota, ch
Kazuaki Iida, dir Sadao Ota, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,093 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 50 M
TREND UP WORTH Yen 203 M
STARTED 1 968 EMPLOYES 70
MFR OF VOLTAGE TRANSFORMER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$50,000 / O/A 60 DAYS.
The subject company was established by
Akira Ota in order to make most of his experience in the subject line of
business. Satoru Ota is his son. This is
a specialized mfr of low & high voltage transformer, rector, high voltage
transformer or medical equipment, vibration coil, semiconductor production
equipment, other.
The sales volume for Nov/2011 fiscal
term amounted to Yen 1,070 million, a 21% up from Yen 902 million in the
previous term. Exports to China were
robust. The recurring profit was posted
at Yen 3 million and the net profit at Yen 1 million, respectively, compared
with Yen 6 million recurring profit and yen 56 million net profit,
respectively, a year ago.
For the current term ending Dec 2012
the recurring profit is projected at Yen 5 million and the net profit at Yen 50
million, respectively, on a 3% rise in turnover, to Yen 1,125 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Dec
1968
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 100.000 shares
Sum: Yen 50 million
Major
shareholders (%): Satorui Ota (25), Yoichi Suzuki (16), Employees’ S/Holding Assn (15),
Satoru Ota (14), Kazuko Atsumi (10)
No. of shareholders: 11
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures low
voltage & high voltage transformer, reactor, high voltage transformers or
medical equipment, vibration semiconductor equipment, ;power supply, battery
charger for welfare equipment, battery charger for automobile, motorcycle &
AGU (automobile guard vehicles), electric mobile, system equ;ment,, medical
equipment, other (--100%)
Clients: [Mfrs,
wholesalers] Oki Electric, Shimadzu, Shizuoka Seiki, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Osaka Dengyosha, Okamoto Wireless Electric, other
Payment record: Slow but correct
Location: Business area in
Shizuoka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Shizuoka Bank
(Hamamatsu-Chuo)
Mizuho Bank
(Hamamatsu)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
30/11/2012 |
30/11/2011 |
30/11/2010 |
30/11/2009 |
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Annual
Sales |
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1,125 |
1,093 |
902 |
526 |
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Recur.
Profit |
|
55 |
2 |
56 |
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Net
Profit |
|
50 |
1 |
55 |
-63 |
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Total
Assets |
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1,049 |
988 |
790 |
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Current
Assets |
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|
724 |
704 |
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Current
Liabs |
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427 |
391 |
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Net
Worth |
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203 |
204 |
148 |
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Capital,
Paid-Up |
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50 |
50 |
50 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.93 |
21.18 |
71.48 |
-16.51 |
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Current Ratio |
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.. |
169.56 |
180.05 |
.. |
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N.Worth Ratio |
.. |
19.35 |
20.65 |
18.73 |
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R.Profit/Sales |
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4.89 |
0.18 |
6.21 |
.. |
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N.Profit/Sales |
4.44 |
0.09 |
6.10 |
-11.98 |
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Return On Equity |
.. |
0.49 |
26.96 |
-42.57 |
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Notes: Forecast
(or estimated) figures for the 30/11/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.08 |
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|
1 |
Rs.89.09 |
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Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.