MIRA INFORM REPORT
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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
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Name : |
PISCO JAPAN LTD |
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Registered Office : |
3-9-32 Izuhaya Osachi Okaya Nagano-Pref
394-0089 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
October 1976 |
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Com. Reg. No.: |
1000-01-019688 (Nagano-Okaya) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of pneumatic devices, joints, valves |
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No. of Employees
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310 |
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 183.9 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
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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 |
PISCO JAPAN LTD
KK Nihon Pisco
3-9-32 Izuhaya Osachi
Okaya Nagano-Pref 394-0089 JAPAN
Tel:
0266-28-6072 Fax: 0266-28-7349
* The given address is its Tokyo sales office (subsidiary)
URL: www.pisco.co.jp
E-mail: hanbai@pisco.co.jp
Mfg of
pneumatic devices, joints, valves
15
sales offices (subsidiary)
Taiwan,
Singapore, Korea, USA (--subsidiaries)
Okaya,
Ina (2); Taiwan
KIYOYASU
YAMAZAKI, PRE Tomio Hama, ch
Yoshifumi Shimizu, v pres Takao Horaguchi, mgn dir
Toshiro Hayashi, dir Hideaki Hama, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 10,594 M
PAYMENTS REGULAR CAPITAL Yen
488 M
TREND STEADY WORTH Yen
24,650 M
STARTED 1972 EMPLOYES 310
MFR OF
PNEUMATIC DEVICES, TUBE JOINTS, VALVES, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 183.9 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Tomio Hama, now ch at the firm, in order to make most of his experience in industry robot mfg. This is a specialized mfr of pneumatic devices, ranging from tube joints and valves which connect and control compressed air to actuate industrial robots to vacuum deices & actuators (See OPERATION). Goods are widely exported. Makes OEM products, too. In Dec/2009, started producing solar photovoltaic system (400 km) at Ina Second Plant. Opened Taiwan Office in 2010 and in 2011 founded Taiwan Plant.
Financials are only partially disclosed.
The sales volume for Sept/2011 fiscal term amounted to Yen 10,594 million, a 1.4% up from Yen 10,451 million in the previous term. Newly opened Taiwan Plant contributed. The net profit was posted at Yen 870 million, compared with Yen 1,138 million a year ago. .
For the current term ending Sept 2012 the net profit is projected at Yen 860 million, on an almost similar turnover, at Yen 10,500 million. .
The financial situation is considered FAIR to GOOD and good for ORDINARY business engagements. Max credit limit is estimated at Yen 183.9 million, on 30 days normal terms.
Date Registered: Oct 1976
Regd No.: 1000-01-019688 (Nagano-Okaya)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1 million shares
Issued: 977,130 shares
Sum:
Yen 488,565,000 million
Major shareholders (%): Hama Foundation (Harmo Museum)
(28), Yamazaki International (17), Pisco Hambai (13%), Tomio Hama (12)
No. of shareholders: 8
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures tube joints, valves for air compressors (--100%
(Mfg items):
Fittings: general piping, protective piping, branching, separation joints, manifold solenoid valves;
Actuator: gripper, pick & place, unit controller;
Plarail chain: flap open & close, split flap open & close, full-cover, low noise,
Modular-type filter, regulator unit: air filter, mist filter, micro-mist filter, regulator, filter-regulator, regulator combination unit, pressure gauge;
Control; flow control, pressure control, pressure indication direction;
Vacuum: vacuum generator stand-alone, vacuum generator combination vacuum pad, vacuum cylinder, free holder, air pincette;
Tube: straight, flat, cooling;
Robot Parts: lever gripper, parallel gripper, rotary actuator.
Solar Photovoltaic System (400 kw)
Clients: [Mfrs] Festo (Germany) (40%), Pisco Hambai (40%), Koganei (8%)
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs] Kitts Metal Works, Nagano
Three Bonds, Kokko Co, Sansei Bussan Co, Soode Nagano Co, Marushin Sun Dengyo,
other.
Payment record: Regular
Location:
Business area in Okaya, Nagano-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Hachijyuni
Bank (Okaya)
Shoko
Chukin Bank (Suwa)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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30/09/2012 |
30/09/2011 |
30/09/2010 |
30/09/2009 |
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Annual
Sales |
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10,500 |
10,594 |
10,451 |
6,326 |
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Recur.
Profit |
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Net
Profit |
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860 |
870 |
1,138 |
242 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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24,650 |
23,780 |
242 |
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Capital,
Paid-Up |
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488 |
488 |
488 |
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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 |
-0.89 |
1.37 |
65.21 |
-46.87 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
8.19 |
8.21 |
10.89 |
3.83 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/09/2012 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.50.31 |
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UK Pound |
1 |
Rs.79.04 |
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Euro |
1 |
Rs.65.82 |
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.