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Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
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Name : |
MIWA CO LTD |
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Registered Office : |
2-632 Seko Moriyamaku |
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Country : |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
June 1995 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of optronics
products, bearing, spindle |
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No. of Employees : |
13 employees |
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 : |
No Complaints |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
MIWA CO LTD
Miwa KK
2-632 Seko
Moriyamaku Nagoya 463-0068 JAPAN
Tel:
052-795-6011 Fax: 052-795-3366
URL: http://www.miwa-inc.co.jp
E-Mail address: m-hasegawa@miwa-inc.co.jp
Import,
wholesale of optronics products, bearing, spindle, other
Nagoya
At the
caption address (processing)
YOSHIAKI
HAYANO, PRES
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 450 M
PAYMENTS No
Complaints CAPITAL Yen 20
M
TREND SLOW WORTH Yen 139 M
STARTED 1995 EMPLOYES 13
TRADING FIRM SPECIALIZING IN OPTRONICS PRODUCTS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Yoshiaki Hayano in order to make most of his experience in the subject line of business. This is a trading firm specializing in import and wholesale of optronics products: lenses, prisms, other, and bearings, spindles, other. Goods are imported widely from USA, UK, Switz, Germany, other. Clients include precision machinery makers, other.
Financials are only partially disclosed.
The sales volume for May/2012 fiscal term amounted to Yen 450 million, an 8% down from Yen 490 million in the previous term. High Yen hurt sales in Yen terms. The net profit was posted at Yen 10 million, compared with Yen 15 million a year ago
For the current term ending May 2013 the net profit is projected at Yen 15 million, on a 4% rise in turnover, to Yen 470 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements.
Date Registered: Jun 1995
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,600 shares
Issued:
400 shares
Sum: Yen 20 million
Major shareholders (%): Yoshiaki Hayano (44.6), Yukio
Hosokawa (35)
No. of shareholders: 7
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Imports and wholesales precision instruments: optronics products (lenses, prisms, other), bearings, spindles, others (--100%)
Clients: [Mfrs, wholesalers] Daido Corp, Misumi Corp, JTECT Corp, Asahi Glass, Hitachi Medico, Seiko Electronics Ind, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Bishop-Wisecarver Corp, Denaher LCG (--USA), Kanya, ASS-AG (--Switz), Hepco Motion (UK), other
Payment record: No Complaints
Location: Business area in Nagoya. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Aichi
Bank (Osone)
Seto
Shinkin Bank (Osone)
Relations:
Satisfactory
(In Million Yen)
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31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
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Annual
Sales |
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470 |
450 |
490 |
307 |
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Recur.
Profit |
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Net
Profit |
|
15 |
10 |
15 |
4 |
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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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|
139 |
129 |
114 |
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Capital,
Paid-Up |
|
|
20 |
20 |
20 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
4.44 |
-8.16 |
59.61 |
-46.79 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
3.19 |
2.22 |
3.06 |
1.30 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.69 |
|
UK Pound |
1 |
Rs.89.20 |
|
Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
---- |
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.