MIRA INFORM REPORT
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Report Date : |
12.03.2012 |
IDENTIFICATION DETAILS
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Name : |
CORNES TECHNOLOGIES LTD |
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Registered Office : |
Cornes House, 3-5-1 Shiba Minatoku Tokyo
105-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
December 1990 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of industrial machinery,
electronic devices |
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No. of Employees
: |
160 |
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 174.2 Million |
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Status : |
Good |
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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 – September 30th, 2011
|
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 |
CORNES TECHNOLOGIES LTD
Cornes
Technologies KK
Cornes House,
3-5-1 Shiba Minatoku Tokyo 105-0014 JAPAN
Tel:
03-5427-7550 Fax: 03-5427-7570
URL: http://www.cornestech.co.jp
E-Mail address: (thru the URL)
Import,
export, wholesale of industrial machinery, electronic devices, other
Osaka
TAKANOBU
NARITA, PRES Masahito
Kaneko, dir
Tadashi
Sato, dir Masahiko
Yamaguchi, dir
Akira
Kimura, dir Yuji
Noda, dir
Yen
Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,234 M
PAYMENTS REGULAR CAPITAL Yen 1,000 M
TREND UP WORTH Yen 3,838 M
STARTED 1990 EMPLOYES 160
TRADING FIRM SPECIALIZING IN INDUSTRIAL MACHINERY, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 174.2 MILLION, 30 DAYS NORMAL TERMS
The subject company was established on the basis of a division separated from Dodwell & Cornes Co Ltd. This is a specialized importer of electronics & industrial machinery (See OPERATION). Goods are imported from Europe, USA, other. Clients include beer breweries, electronic makers, other, nationwide.
The sales volume for Mar/2011 fiscal term amounted to Yen 6,234 million, a 2% up from Yen 6,093 million in the previous term. The recurring profit was posted at Yen 436 million and the net profit at Yen 247 million, respectively, compared with Yen 268 million recurring profit and Yen 157 million net profit, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected at Yen 450 million and the net profit at Yen 260 million, respectively, on a 4% rise in turnover, to Yen 6,500 million. Demand for beer kegs continues rising from beer breweries.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 174.2 million, on 30 days normal terms.
Date Registered: Dec 1990
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
20,000 shares
Issued:
20,000 shares
Sum: Yen 1,000 million
Major shareholders (%): Cornes & Co Ltd (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales industrial machinery, packaging machinery, filling machines, electronic devices, other (--100%)
(Handling Items): Inspection (infrared gauges), Packaging machines (bag-in-box/bag-in-drum filling systems, beer kegs, containers); Electronics devices (semiconductors, other); other
Clients: [Beer breweries, electronics makers] Kirin Beer, Asahi Beer, Sapporo Beer, Suntory Beer & Whiskies, TDK, Sony Corp, Panasonic Corp, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Papack Asia Pacific, Schoeller Arca Systems, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned by the parent and maintained satisfactorily.
Bank References:
Mizuho
Corporate Bank (H/O)
MUFG
(Toranomon-Chuo)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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6,500 |
6,234 |
6,093 |
7,551 |
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Recur.
Profit |
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450 |
436 |
268 |
546 |
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Net
Profit |
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260 |
247 |
157 |
310 |
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Total
Assets |
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8,355 |
7,890 |
8,613 |
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Current
Assets |
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8,559 |
5,895 |
7,066 |
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Current
Liabs |
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3,636 |
3,398 |
4,269 |
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Net
Worth |
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3,838 |
3,685 |
3,691 |
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Capital,
Paid-Up |
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1,000 |
1,000 |
1,000 |
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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 |
4.27 |
2.31 |
-19.31 |
-42.04 |
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Current Ratio |
|
.. |
235.40 |
173.48 |
165.52 |
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N.Worth Ratio |
.. |
45.94 |
46.70 |
42.85 |
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R.Profit/Sales |
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6.92 |
6.99 |
4.40 |
7.23 |
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N.Profit/Sales |
4.00 |
3.96 |
2.58 |
4.11 |
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Return On Equity |
.. |
6.44 |
4.26 |
8.40 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 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.