MIRA INFORM REPORT
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Report Date : |
11.05.2012 |
IDENTIFICATION DETAILS
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Name : |
CAMERON JAPAN LTD |
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Registered Office : |
Homat Horizon Bldg 2F, 6-2 Gobancho
Chiyodaku Tokyo 102-0076 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
May 1984 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 025253 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale
of oil/gas drilling facilities & equipment |
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 : |
Usually Correct |
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Litigation : |
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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, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
CAMERON JAPAN LTD
Cameron Japan KK
Homat Horizon Bldg
2F, 6-2 Gobancho Chiyodaku Tokyo 102-0076 JAPAN
Tel:
03-3288-1901 Fax: 813-3288-1904
E-mail: info@cameronjapan.co.jp
Import,
wholesale of oil/gas drilling facilities & equipment
Nil
William
Lemmer, ch HARUO SHIGA,
PRES
Leslie Hiller, dir Yasuo
Asama, dir
Muneo Yamano, dir
Yen
Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,830 M
PAYMENTS REGULAR CAPITAL Yen 12 M
TREND SLOW WORTH Yen
2,264 M
STARTED 1984 EMPLOYES 44
IMPORTER
AND WHOLESALER OF OIL/GAS DRILLING FACILITIES & EQUIPMENT
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Natco (National Tank Co Ltd)
Group Inc (USA) as its marketing arm in Japan.
The firm specializes in import and wholesale of oil/gas drilling
facilities & equipment: offshore platform project, upstream package,
refinery desalter, other. Renamed as
captioned in May 2010 when the US ownership was transferred to Cameron
International Corp, USA, from Natco Group Inc.
The firm is owned by three parties: Cameron International Inc, Daiichi
Jitsugyo Co Ltd and MODEC Inc. Products
are shipped to Daiichi Jitsugyo, MODEC, other.
Financials are only partially disclosed.
The sales volume for Dec/2010 fiscal term amounted to Yen 2,830 million,
a 49% down from Yen 5,500 million in the previous term, as substantially
affected by the global economic downturn, added to the oil field explosion off
Mexico. Exports declined sharpest ever seen,
leading to sluggish corporate activity and a rapidly worsening employing
situation. The net profit was posted at
Yen 150 million, compared with Yen 598 million a year ago.
For the current term ending Dec 2011 the net profit is projected at Yen
160 million, on a 10% rise in turnover, to Yen 3,100 million. MODEC Inc’s order backlog at the start of the
term reportedly increased 50%. Higher
Yen will eat into earnings & profits in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 54.3 million, on 30 days normal terms.
Date Registered: May 1984
Regd No.: (Tokyo-Chiyodaku) 025253
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 24,000
shares
Issued: 24,000 shares
Sum: Yen 12 million
Major shareholders (%): Cameron Solutions Inc (60),
Daiichi Jitsugyo Co* (20), MODEC Inc** (20)
No. of shareholders: 3
* Medium-size trading house specializing in machinery, Tokyo, founded
1948, listed Tokyo S/E, capital Yen 5,106 million, sales Yen 108,079 million,
operating profit Yen 4,243 million, recurring profit Yen 4,362 million, net
profit Yen 2,443 million, total assets Yen 73,322 million, net worth Yen 23,281
million, employees 992, pres Koji Yamagata
** Construction & leasing of facilities for ocean oil/gas-well
drilling, Tokyo, founded 1987, listed Tokyo S/E, capital Yen 20,185 million,
sales Yen 146,660 million, operating profit Yen 3,563 million, recurring profit
Yen 6,156 million, net profit Yen 2,735 million, total assets Yen 146,627
million, net worth Yen 58,323 million, employees 632, pres Toshiro Miyazaki
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales oil/gas drilling-related facilities & equipment: offshore
platform facilities, upstream package (oil train, treater, GDU, produced water,
EPSO projects), refinery desalter, revamp, R&D, other related (--100%).
Clients: [Mfrs, wholesalers]
Daiichi Jitsugyo Co, MODEC Inc, MODEC Offshore, Hyundai Engineering, other
No. of accounts: 5
(Direct clients)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Cameron Solutions Inc, Daiichi Jitsugyo Co, MODEC Inc, Iljin
Energy Co, TSM Tech Co Ltd, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
· SMBC (Hibiya)
· Mizuho Corporate Bank (Uchisaiwaicho)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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3,100 |
2,830 |
5,500 |
3,893 |
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Recur.
Profit |
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Net
Profit |
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160 |
150 |
598 |
268 |
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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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2,264 |
1,270 |
852 |
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Capital,
Paid-Up |
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12 |
12 |
12 |
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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 |
9.54 |
-48.55 |
41.28 |
85.56 |
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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 |
5.16 |
5.30 |
10.87 |
6.88 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2011 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.53.33 |
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UK Pound |
1 |
Rs.86.10 |
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Euro |
1 |
Rs.69.06 |
INFORMATION DETAILS
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Report Prepared
by : |
PDT |
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.