MIRA INFORM REPORT
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Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
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Name : |
AMERICAN ENGINEERING CORPORATION |
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Registered Office : |
7-8-13 Oyama Ginowan City Okinawa 901-2223
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
April 1964 |
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Com. Reg. No.: |
3600-03-003973
(Okinawa-Ginowan) |
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Legal Form : |
Limited Company |
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Line of Business : |
Civil Engineering Works |
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No. of Employees
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470 |
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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Maximum Credit Limit : |
Yen 175.0 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
AMERICAN
ENGINEERING CORPORATION
American
Engineering Corporation
7-8-13 Oyama
Ginowan City Okinawa 901-2223 JAPAN
Tel:
098-897-6781 Fax: 098-897-1086
URL: http://www.aec-japan.co.jp
E-Mail address: info@aec-japan.co.jp
Civil
engineering works
Tokyo
RICHARD
G BOUDREAULT, PRES
Masako
Miuyagi, dir
Robert
M Exterchin dir
In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 7,648 M
PAYMENTS No Complaints CAPITAL Yen
31 M
TREND STEADY WORTH Yen
3,110 M
STARTED 1964 EMPLOYES 470
CIVIL ENGINEERING WORKS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARYBUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 175.0 MILLION, 30 DAYS NORMAL TERMS. .
The subject company was established originally in 1954 as Branch Office by Hong Kong-based company and was incorporated in 1964. This is a civil engineering company, owned by two Americans, offering and supporting US military bases in Okinawa, Japan. Provides quality design, construction, maintenance and material procurement to US government/US military bases centrally in Okinawa. One of the major works includes air-conditioning facilities and equipment (See OPERATION). Has a satellites office in Tokyo to cover US military bases in areas. 90% of the works are contracts with US Military Base in Okinawa.
The sales volume for Dec/2010 fiscal term amounted to Yen 7,648 million, a 0.2% up from Yen 7,633 million in the previous term. The recurring profit was posted at Yen 426 million and the net profit at Yen 278 million, respectively, compared with Yen 273 million recurring profit and Yen 150 million net profit, respectively, a year ago.
For the term that ended Dec 2011 the recurring profit was projected at Yen 450 million and the net profit at Yen 290 million, respectively, on a 6% rise in turnover, to Yen 8,100 million. Final results are yet to be released.
The financial situation is considered FAIR to GOOD and good for ORDINARY business engagements. Max credit limit is estimated at Yen 175.0 million, on 30 days normal terms.
Date Registered: Apr 1964
Regd No.: 3600-03-003973 (Okinawa-Ginowan)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
63,080 shares
Issued:
63,080 shares
Sum: Yen 31.54 million
Major shareholders (%):
Robert M Exterchin (50), Richard G Boudreault (50)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Civil engineering works offering quality design, construction, maintenance, materials supply/procurement, other related services to US Military bases/government in Okinawa (--100%).
(Covering areas): air-conditioning design & install, construction, engineering services, project management, telecom & information technology, CAD support, facilities maintenance, equipment maintenance, warehouse management, material procurement/ inspection, other.
Clients: [US Military bases] Okinawa US Military Contracting Office (90%), Ginowan City Office, Daishin Kogyo, Nakamoto Kogyo, Takenaka Corp, other.
No. of accounts: 1,000
Domestic areas of activities: Centered in Okinawa-Pref
Suppliers: [Mfrs, wholesalers] Daikin Air-Conditioning Okinawa, West Pack, Walters, Carrier, other.
Payment record: No Complaints
Location: Business area in Ginowan City, Okinawa. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Okinawa
Bank (Makiminato)
Bank
of Ryukyus (Futenma)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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8,100 |
7,648 |
7,633 |
6,415 |
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Recur.
Profit |
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450 |
426 |
273 |
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Net
Profit |
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290 |
278 |
150 |
39 |
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Total
Assets |
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8,714 |
8,472 |
7,694 |
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Current
Assets |
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6,882 |
6,647 |
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Current
Liabs |
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4,345 |
4,150 |
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Net
Worth |
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3,110 |
2,833 |
2,681 |
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Capital,
Paid-Up |
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31 |
31 |
31 |
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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 |
5.91 |
0.20 |
18.99 |
-27.42 |
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Current Ratio |
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.. |
158.39 |
160.17 |
.. |
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N.Worth Ratio |
.. |
35.69 |
33.44 |
34.85 |
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R.Profit/Sales |
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5.56 |
5.57 |
3.58 |
.. |
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N.Profit/Sales |
3.58 |
3.63 |
1.97 |
0.61 |
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Return On Equity |
.. |
8.94 |
5.29 |
1.45 |
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Notes:
Forecast (or estimated) for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.02 |
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UK Pound |
1 |
Rs.79.00 |
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Euro |
1 |
Rs.66.18 |
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 |
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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.