|
Report Date : |
03.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
TANABE PNEUMATIC MACHINERY CO LTD |
|
|
|
|
Registered Office : |
2-14-6 Senrioka
Settsu City Osaka-Pref 566-0001 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
December
1961 |
|
|
|
|
Com. Reg. No.: |
1209-01-009662 (Osaka-Settsu) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of compressors |
|
|
|
|
No. of Employees : |
159 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but Correct |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
TANABE
PNEUMATIC MACHINERY CO LTD
KK Tanabe Kuuki
Kikai Seisakusho
2-14-6 Senrioka
Settsu City Osaka-Pref 566-0001 JAPAN
Tel:
06-6388-1339 Fax: 06-6380-8560
URL: http://www.tanacomp.co.jp
E-Mail address: info@tanacomp.co.jp
Mfg of
compressors
Tokyo
Komaki
(Aichi-Pref)
TERU
TANABE, PRES Jun Tanabe, adv
Shigeru
Tanabe, dir Seizo Tsuneta, dir
Norimasa
Izumi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 5,516 M
PAYMENTSSlow but Correct CAPITAL Yen 60 M
TREND UP WORTH Yen 563 M
STARTED 1961 EMPLOYES 159
MFR OF COMPRESSORS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company
was established by Jun Tanabe in order to make most of his experience in the
subject line of business. Teru is his
son, who took the pres office in Mar 2010.
This is a specialized mfr of compressors. Goods are exported. Clients include major heavy machinery makers,
shipbuilders, Ministry of Defense, other, nationwide.
The sales volume for
Dec/2011 fiscal term amounted to Yen 5,516 million, a 30% hike from Yen 4,244
million in the previous term. Demand
revived after seriously affected by the global economic downturn in the last
term. Exports were robust. The operations came back to profitability to
post Yen 433 million recurring profit and Yen 74 million net profit,
respectively, compared with Yen 53 million recurring loss and Yen 58 million
net losses, respectively, a year ago.
For the current term
ending Dec 2012 the recurring profit is projected at Yen 450 million and the
net profit at Yen 80 million, respectively, on a 3% rise in turnover, to Yen
5,700 million. Business is seen
expanding steadily.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1961
Regd No.: 1209-01-009662 (Osaka-Settsu)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
480,000 shares
Issued:
120,000 shares
Sum: Yen 60 million
Major shareholders (%): Union Shoji KK* (48.8), Makoto
Tanabe (7.5), Jun Tanabe
(6.3), Tanabe Compressor KK
(5.5)
No. of shareholders: 19
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures air/gas compressors, machinery parts washing machines, others (--100%)
Clients: [Mfrs, wholesalers] Mitsui Engineering & Shipbuilding Ind, Mitsubishi Heavy Inv, Universal Shipbuilding Corp, Nissei ASB Machine, Imabari Shipbuilding Co, Ministry Defense, Izumi Steel Works, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Hoerbiger Japan, Tanabe Pressure Vessel Co, Kawaguchi Nainenki Castings Co, Saginomiya Seisakusho Inc, Taiyo Shokai Corp, Takeuchi Mfg Co, other
Payment record: Slow but Correct
Location: Business area in Settsu City, Osaka-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Suita)
MUFG
(Osaka-Ekimae)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
Annual
Sales |
|
5,700 |
5,516 |
4,244 |
4,785 |
|
Recur.
Profit |
|
450 |
433 |
-53 |
|
|
Net
Profit |
|
80 |
74 |
-58 |
16 |
|
Total
Assets |
|
|
4,720 |
4,839 |
5,023 |
|
Current
Assets |
|
|
3,677 |
3,742 |
|
|
Current
Liabs |
|
|
1,084 |
1,068 |
|
|
Net
Worth |
|
|
563 |
488 |
547 |
|
Capital,
Paid-Up |
|
|
60 |
50 |
50 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.34 |
29.97 |
-11.31 |
0.34 |
|
|
Current Ratio |
|
.. |
339.21 |
350.37 |
.. |
|
N.Worth Ratio |
.. |
11.93 |
10.08 |
10.89 |
|
|
R.Profit/Sales |
|
7.89 |
7.85 |
-1.25 |
.. |
|
N.Profit/Sales |
1.40 |
1.34 |
-1.37 |
0.33 |
|
|
Return On Equity |
.. |
13.14 |
-11.89 |
2.93 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.72 |
|
UK Pound |
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.66 |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.