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Report Date : |
06.11.2012 |
IDENTIFICATION DETAILS
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Name : |
PRODESK CO LTD |
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Registered Office : |
12-1 |
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Country : |
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Financials (as on) : |
31.07.2011 |
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Date of Incorporation : |
July 1999 |
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Com. Reg. No.: |
0300-01-032662 (Saitama-Kazo) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of clean room suit, gloves, fabrics |
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No. of Employees : |
2 |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
JAPAN - ECONOMIC OVERVIEW
In the years following World War
II, government-industry cooperation, a strong work ethic, mastery of high
technology, and a comparatively small defense allocation (1% of GDP) helped
Japan develop a technologically advanced economy. Two notable characteristics
of the post-war economy were the close interlocking structures of
manufacturers, suppliers, and distributors, known as keiretsu, and the
guarantee of lifetime employment for a substantial portion of the urban labor
force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s that
required a protracted period of time for firms to reduce excess debt, capital,
and labor. Measured on a purchasing power parity (PPP) basis that adjusts for
price differences, Japan in 2011 stood as the fourth-largest economy in the
world after second-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2011. A sharp downturn in business investment
and global demand for Japan's exports in late 2008 pushed Japan further into
recession. Government stimulus spending helped the economy recover in late 2009
and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude
earthquake in March disrupted manufacturing. Electricity supplies remain tight
because Japan has temporarily shut down almost all of its nuclear power plants
after the Fukushima Daiichi nuclear reactors were crippled by the earthquake
and resulting tsunami. Estimates of the direct costs of the damage - rebuilding
homes, factories, and infrastructure - range from $235 billion to $310 billion,
and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has
proposed opening the agricultural and services sectors to greater foreign
competition and boosting exports through membership in the US-led Trans-Pacific
Partnership trade talks and by pursuing free-trade agreements with the EU and
others, but debate continues on restructuring the economy and reining in
Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation,
reliance on exports to drive growth, and an aging and shrinking population are
other major long-term challenges for the economy.
Source : CIA
PRODESK CO LTD
REGD NAME: KK
Prodesk
MAIN OFFICE: 12-1
Hatoyamamachi Kazo City Saitama-Pref 347-0019
Tel:
0480-67-0215 Fax: 0480-67-0216
URL: N/A
Mfg of clean room
suit, gloves, fabrics
Nil
At the caption
address
KEN’ICHI KASAHARA,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 105 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 33 M
STARTED 1999 EMPLOYES 2
MFR OF CLEAN-ROOM
SUITS, GLOVES, OTHER.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS
The subject company was established
by Ken’ichi Kasahara in order to make most of his experience in the subject
line of business. This is a family-based
specialized mfr of clean-room products: anti-dust suits, gloves, masks, fingerstall,
other. Clients include semiconductor
mfrs, food processors, pharmaceuticals, medical, other.
Financials are only partially
disclosed as is the case with family-based companies.
The sales volume for Jul/2011 fiscal term amounted to Yen 105 million,
an 18% down from Yen 128 million in the previous term. Demand declined as affected by the Great East
Japan Earthquake that occurred in Mar/2011.
The net profit was posted at Yen 1 million, similarly in the previous
period.
For the term that ended Jul 2012 the net
profit was projected at Yen 1 million, on a 5% rise in turnover, to Yen 110
million. Final results are yet to be
released.
The financial situation is
considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered: Jul
1999
Regd No.:
0300-01-032662 (Saitama-Kazo)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Ken’ichi
Kasahara (100)
Nothing
detrimental is known as to his commercial morality.
Activities: Manufactures
clean room products: dust-proof suits, nitrile gloves, latex gloves,
electrostatic fingerstall, other (--100%)
Clients: [Mfrs,
wholesalers] Tateishi Filter, Japan Apparel Service, Mataichi Hirose Co, Atom
Kousan Corp, Nippon CR Products, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Dunlop Home Products, Mitsu-Uma Co, YKK Fastening Products Sales, Asoya, other.
Payment record: Slow but correct
Location: Business area in
Kazo City, Saitama-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBS (Kasukabe)
Saitama Resona
Bank (Washinomiya)
Relations:
Satisfactory
(In Million
Yen)
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31/07/2012 |
31/07/2011 |
31/07/2010 |
31/07/2009 |
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Annual
Sales |
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110 |
105 |
128 |
123 |
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Recur.
Profit |
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Net
Profit |
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1 |
1 |
1 |
1 |
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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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33 |
32 |
31 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
4.76 |
-17.97 |
4.07 |
-15.75 |
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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 |
0.91 |
0.95 |
0.78 |
0.81 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/07/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.08 |
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|
1 |
Rs.86.68 |
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Euro |
1 |
Rs.69.36 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
-- |
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.