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Report Date : |
13.07.2012 |
IDENTIFICATION DETAILS
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Name : |
CORRENS CORPORATION |
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Registered Office : |
Ark Yagi Hills
3F, 1-8-7 Roppongi Minatoku |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
December
1954 |
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Com. Reg. No.: |
0104-01-077260
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of industrial machinery; export of PC’s
& peripherals |
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No. of Employees : |
154 |
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 : |
No Complaints |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
CORRENS CORPORATION
KK Correns
Ark Yagi Hills 3F,
1-8-7 Roppongi Minatoku
Tel: 03-5114-0711
Fax: 03-3583-1330
URL: http://www.correns.co.jp/
E-mail sales@correns.co.jp
Import,
wholesale of industrial machinery; export of PC’s & peripherals
THOMAS
NOLTING, PRES Iva Johansen, v pres
Tsuneo
Kato, dir Toshiharu
Umei, dir
Yukinori
Kusunoki, dir Kazuhiro
Itoh, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 10,704 M
PAYMENTS No
Complaints CAPITAL Yen 39 M
TREND SLOW WORTH Yen 1,197 M
STARTED 1954 EMPLOYES 154
TRADING HOUSE SPECIALIZING IN INDUSTRIAL MACHINERY FROM
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established originally in 1948 by
Claus Correns, ex Tokyo Branch Manager of Hamburg Siemens Co, under the name of
C Correns & Co Ltd as an open partnership.
After his retirement in 1980, the company was transferred to Arthur von
Eisenhalf-Rothe, who subsequently retired in Dec 1997, thereafter succeeded by
the present executives. In Apr 1998
renamed as captioned. This is a trading
firm specializing in industrial machinery centrally from
The sales volume for Dec/2011 fiscal term amounted to Yen 10,704 million, an 11% down from Yen 12,083 million in the previous term. High Yen against US Dollars and Euro hurt export earnings & profits in Yen terms, although exports volumes were normal & steady. The recurring profit was posted at Yen 211 million and the net profit at Yen 125 million, respectively, compared with Yen 164 million recurring profit and Yen 164 million net profit, respectively, a year ago.
For the current term ending Dec 2012 the recurring profit is projected at Yen 220 million and the net profit at Yen 130 million, respectively, on a 3% rise in turnover, to Yen 11,000 million. Business is seen steadily expanding. ’
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1954
Regd No.: 0104-01-077260 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
78,000 shares
Issued:
78,000 shares
Sum: Yen 39 million
Major shareholders (%): Thomas
Nolting (80), Ivan Johansen (20)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales industrial machinery & equipment; exports electronics, PC’s & peripherals:
(Sales Breakdown by
Divisions):
Industrial Machinery (65%): metal & wire working machinery, plastic molding machines, glass processing machines, food processors, packaging & paper converting machines, printing technology, paper-handling systems, construction technology, mining & tunneling machines, equipment & components for automotive industry, precision machining, measuring & inspection technologies, new technologies (Eco-, Nano-, Biotechnology), others;
Electronics (15%): electronics parts & components
Exports (20%): laser scan modules, optical systems, printed circuit boards, electrical & mechanical sub-assemblies, precision motors, fans & mechatronic parts for office automation equipment & automotive use, electromagnetic clutches & brakes, consumables for offset printing machines, including printing plates, special steel wires for automotive use, complete OEM products, including personal computers, rotary dumpers for soft-closing of toilet seats, piano lids, etc.
(% is all about)
Imports (about 80%) are centrally from Germany.
Licenses: Has several JVs and more than 90 license agreements, including agreements for: ALWEG monorail, Wankel Rotary-Piston Engines, Ehrenreich (TRW) Ball Joints for motor cars, De Carbon shock absorbers.
Clients: [Mfrs, wholesalers] SMC, Toyota Motor, Aisin Seiki Co, Kobe Steel, Tokyo Steel, Nippon Filcon Co, Chuo Hatsujo Kogyo Co, JGC Corp, Toyo Engineering, AGC Glass Products, Japan Crown Cork Co, Kushiro Coal Mine, Nihon Yamamura Glass, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Lenhardt, Wickermann, Wafios, Lingemann, Thyssen, Henschel Liebherr, UDD Fim, Kammann, SMS Demag (--Germany), Sacmi (Italy), Larox Corp (Finland), other from some domestic suppliers.
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Toranomon)
Mizuho
Bank (Shimbashi)
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 |
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11,000 |
10,704 |
12,083 |
11,831 |
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Recur.
Profit |
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220 |
211 |
164 |
104 |
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Net
Profit |
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130 |
125 |
164 |
122 |
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Total
Assets |
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5,377 |
5,611 |
6,093 |
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Current
Assets |
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4,981 |
5,178 |
5,731 |
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Current
Liabs |
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3,740 |
3,893 |
4,292 |
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Net
Worth |
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1,197 |
1,227 |
1,141 |
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Capital,
Paid-Up |
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|
39 |
39 |
39 |
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Div.P.Share(¥) |
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0.00 |
1,000.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.77 |
-11.41 |
2.13 |
-9.15 |
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Current Ratio |
|
.. |
133.18 |
133.01 |
133.53 |
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N.Worth Ratio |
.. |
22.26 |
21.87 |
18.73 |
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R.Profit/Sales |
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2.00 |
1.97 |
1.36 |
0.88 |
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N.Profit/Sales |
1.18 |
1.17 |
1.36 |
1.03 |
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Return On Equity |
.. |
10.44 |
13.37 |
10.69 |
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Notes:
Forecast (or estimated) for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
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UK Pound |
1 |
Rs.86.28 |
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Euro |
1 |
Rs.68.15 |
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.