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Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SWING
CORPORATION |
|
|
|
|
Registered Office : |
11-1 Haneda-Asahicho Ohtaku |
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|
|
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Country : |
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|
|
|
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Financials (as on) : |
31.03.2012 |
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|
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Date of Incorporation : |
April 1977 |
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|
|
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Com. Reg. No.: |
(Tokyo-Ohtaku)
018437 |
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Legal Form : |
Limited Company |
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|
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Line of Business : |
Engineering of water
treatment facilities/plants |
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|
|
No. of Employees : |
1,978 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SWING CORPORATION
REGD NAME: Swing
KK
MAIN OFFICE: 11-1
Haneda-Asahicho Ohtaku Tokyo 144-0042
Tel:
03-6275-9111 Fax: 03-5736-3164
E-Mail address: (thru the URL)
Engineering of
water treatment facilities/plants
(at the caption
address)
MASAYOSHI HIROSE,
PRES Kazunori Nito, v pres
Shigeo Mizutani, v
pres Hisanori
Yoshimura, ch
Takanori Oyama, mgn dir Yoichi Amemiya, mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 67,970 M
PAYMENTS REGULAR CAPITAL Yen 650 M
TREND SLOW WORTH Yen 9,946 M
STARTED 1977 EMPLOYES 1,978
WATER TREATMENT ENGINEERING.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Ebara Corp as water treatment engineering firm,
named Ebara Engineering Service Co Ltd. In
Apr 2011 the firm became independent from Ebara Corp and renamed as
captioned. This is water treatment
engineering firm (See OPERATION). Clients include municipal offices, public
offices, mfrs, other. Actively engaged
in overseas operations.
The sales volume
for Mar/2011 fiscal term amounted to Yen 67,970 million, a 1% down from Yen
68,908 million in the previous term. The
number of order works increased but were eroded by the high Yen, decreasing
revenues & profits in Yen terms. The
recurring profit was posted at Yen 4,616 million and the net profit at Yen
1,919 million, respectively, compared with Yen 4,359 million recurring profit
and Yen 2,247 million net profit, respectively, a year ago.
For the current
term ending Mar 2012 the recurring profit is projected at Yen 4,700 million and
the net profit at Yen 2,000 million, respectively, on a 6% rise in turnover, to
Yen 72,000 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr
1977
Regd No.:
(Tokyo-Ohtaku) 018437
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3 million shares
Issued: 3 million shares
Sum: Yen 650 million
Major
shareholders (%): Ebara Corp (33.3), Mitsubishi Corp (33.3), JGC Corp (33.3)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Engineering
firm:
(Sales
breakdown by divisions):
Engineering
Works (34.9%): Design, execution, sales of water treatment facilities: water treatment
facilities, packaged water purification facilities, industrial water treatment
facilities, pump facilities, public waste water treatment facilities, sludge
& biomass recycling, other;
Operations
& Maintenance Works (45.3%): Operates, maintains and repairs these facilities;
Supply
& Sale of industrial chemicals (17.4%): manufactures and sale of industrial
chemicals & gas used in the water treatment facilities and environmental plant
facilities.
Clients: [Public agencies,
mfrs, wholesalers] Ebara Corp, Ebara Shoji Co, Ebara Jitsugyo Co, Sankyo Kogyo
Co, Soda Nikka Co, Honcho Chemical Ind, Sanyo Kako Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ebara Corp, Ebara Jitsugyo Co, Honcho Chemical Ind, Soda Nikka Co,
Sanyo Kako Co, Ebara Densan Ltd, Kyoei Plant Mfg, Chuo Plant Service, Ebara
Techno-Serve Co, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Corporate
Bank (Uchisaiwaicho)
MUFG (Tokyo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
72,000 |
67,970 |
68,908 |
78,750 |
|
Recur.
Profit |
|
4,700 |
4,616 |
4,359 |
3,565 |
|
Net
Profit |
|
2,000 |
1,919 |
2,247 |
1,982 |
|
Total
Assets |
|
|
47,581 |
43,382 |
41,846 |
|
Current
Assets |
|
|
42,147 |
39,169 |
40,048 |
|
Current
Liabs |
|
|
34,465 |
33,970 |
36,937 |
|
Net
Worth |
|
|
9,966 |
8,045 |
3,317 |
|
Capital,
Paid-Up |
|
|
650 |
650 |
650 |
|
Div.Total
in Million(¥) |
|
|
0.00 |
2615 |
5356 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.93 |
-1.36 |
-12.50 |
-2.48 |
|
|
Current Ratio |
|
.. |
122.29 |
115.30 |
108.42 |
|
N.Worth Ratio |
.. |
20.95 |
18.54 |
7.93 |
|
|
R.Profit/Sales |
|
6.53 |
6.79 |
6.33 |
4.53 |
|
N.Profit/Sales |
2.78 |
2.82 |
3.26 |
2.52 |
|
|
Return On Equity |
.. |
19.26 |
27.93 |
59.75 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.79 |
|
UK Pound |
1 |
Rs.86.37 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.