|
Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
AKIRA CO LTD |
|
|
|
|
|
|
Registered Office : |
Akira Bldg, 3-3-11 Higashi-Nihombashi Chuoku Tokyo 103-0004 |
|
|
|
|
|
|
Country : |
Japan |
|
|
|
|
|
|
Financials (as on) : |
30.09.2011 |
|
|
|
|
|
|
Date of Incorporation : |
October 1947 |
|
|
|
|
|
|
Com. Reg. No.: |
0100-01-036564 (Tokyo-Chuoku) |
|
|
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
|
|
Line of Business : |
Engineering works of sewage systems, wind power, agricultural water, other |
|
|
|
|
|
|
No. of Employees : |
360 |
|
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
AKIRA CO LTD
REGD NAME: Akira
KK
MAIN OFFICE: Akira
Bldg, 3-3-11 Higashi-Nihombashi Chuoku Tokyo 103-0004 JAPAN
Tel:
03-3663-2281 Fax: 03-3664-5547
URL: http//:www.akira.agns.co.jp
E-mail: info@akira.agns.co.jp
Engineering works
of sewage systems, wind power, agricultural water, other
Yokohama, Saitama,
Tsuchiura, Hachioji, Hitachi, Utsunomiya, Sendai, Naha,
Hitachi-Naka,
other (Tot 19)
Yuichi Nakagawa,
ch TAKASHI NAKAGAWA, PRES
Gen'ya Moriyama,
s/mg dir Yoshihisa Maeno, mgn dir
Akihiko Tanimura,
dir Teruo Nakamura, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 22,031 M
PAYMENTS SLOW BUT
CORRECT CAPITAL Yen 100 M
TREND SLOW WORTH Yen 4,326 M
STARTED 1947 EMPLOYES 360
ENGINEERING FIRM
OF WATER/PUMPING SYSTEMS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established
by Yuichi Nakagawa in order to make most of his experience in the subject line
of business. Takashi is his son. This is an engineering firm specializing in
pumping systems, drainage systems, wind power, agricultural water supply
systems, electrical works, other.
Strongly tied up with Hitachi Ltd group.
The sales volume for Sept/2011 fiscal
term amounted to Yen 22,031 million, a 15% down from Yen 25,833 million in the
previous term. Sales declined as greatly
affected by the Great East Japan Earthquake that hit in Mar 2011. Hitachi Ltd, major supplier, had its
factories damaged by the earthquake.
Supply chains were disrupted. The
recurring profit was posted at Yen 436 million and the net profit at Yen 182
million, respectively, compared with Yen 549 million recurring profit and Yen
243 million net profit, respectively, a year ago. .
For the current term ending Sept 2012 the
recurring profit is projected at Yen 440 million and the net profit at Yen 190
million, on a 4% rise in turnover, to Yen 23,000 million.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct
1947
Regd No.:
0100-01-036564 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major
shareholders (%): Azuma Jitsugyo* (42.8), Yuichi Nakagawa (34.3), Employees’ S/Holding
Assn (8.3), Koji Tojo (3.8), Masao Kaminaga (3.5)
*.. Holding company
owned by the Nakagawa family
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
Activities: This is an
engineering firm for designing, mfg, installation, maintenance, repairing
services for: water pumping systems, drainage systems, sewage systems, agricultural
water supply systems, wind power, electrical works, FA systems, distribution
systems, other (--100%)
Clients: [Governments,
municipalities, mfrs, wholesalers] Hitachi Ltd, Ministry of Defense, Tokyo
Metrop Government Bureau of Water Works, Hitachi High Tech Fielding, Hitachi
Densen Shoji, Hitachi Engineering & Service, Hitachi Plant Technologies,
Chiba-Pref Government Water Bureau, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hitachi Ltd, Hitachi Chemical Co, Hitachi Densen Shoji, Hitachi
High Tech Fielding, Hitachi High Technologies, Hitachi Appliances, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Yokoyamacho)
MUFG (Horidome)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2012 |
30/09/2011 |
30/09/2010 |
30/09/2009 |
|
|
Annual
Sales |
|
23,000 |
22,031 |
25,833 |
26,798 |
|
Recur.
Profit |
|
440 |
436 |
549 |
597 |
|
Net
Profit |
|
190 |
182 |
243 |
424 |
|
Total
Assets |
|
|
13,566 |
14,533 |
15,017 |
|
Current
Assets |
|
|
8,360 |
9,545 |
9,794 |
|
Current
Liabs |
|
|
8,189 |
9,202 |
9,817 |
|
Net
Worth |
|
|
4,326 |
4,161 |
3,936 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.Ttl
in Million (¥) |
|
|
15 |
15 |
15 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.40 |
-14.72 |
-3.60 |
31.36 |
|
|
Current Ratio |
|
.. |
102.09 |
103.73 |
99.77 |
|
N.Worth Ratio |
.. |
31.89 |
28.63 |
26.21 |
|
|
R.Profit/Sales |
|
1.91 |
1.98 |
2.13 |
2.23 |
|
N.Profit/Sales |
0.83 |
0.83 |
0.94 |
1.58 |
|
|
Return On Equity |
.. |
4.21 |
5.84 |
10.77 |
|
Notes: Forecast
(or estimated) figures for the 30/09/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
|
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.