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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
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Name : |
OAK-TREES INC |
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Registered Office : |
1-1-3 Kawayanagicho Koshigaya Saitama-Pref
343-6540 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2012 |
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Date of Incorporation : |
October 2000 |
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Com. Reg. No.: |
0300-01-065024
(Saitama-Koshigaya) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of plastic insulators, plastic products |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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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 |
|
Moderate |
B1 |
|
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 |
OAK-TREES INC
KK Kashinoki
Seisakusho
1-1-3 Kawayanagicho
Koshigaya Saitama-Pref 343-6540 JAPAN
Tel:
049990-6540 Fax: 048-990-6550
URL: http://www.oak-tree.co.jp
E-Mail address: (thru the URL)
Mfg of
plastic insulators, plastic products
Nil
China,
Hong Kong
At the
caption address, China
HIROSHI
OKUMA, PRES
Kesako
Okuma, dir
Kota
Okuma, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 716 M
PAYMENTS Slow
CAPITAL Yen 10 M
TREND SLOW WORTH Yen
84 M
STARTED 2000 EMPLOYES 12
MFR OF PLASTIC INSULATORS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1995 by Hiroshi Okuma,
on his account, and was incorporated in 2000.
This is a family-based mfr of plastic insulators (See OPERATION). More than 50% of the products are exported to
China, other. The firm has mfg base in
China (Changli Plastic products Co Ltd).
Domestic clients include Hitachi Ltd group firms.
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Aug/2012 fiscal term amounted to Yen 716 million, a
16% down from Yen 853 million in the previous term. High Yen hurt export sales, reducing earnings
and profits in Yen terms. The firm
plunged into the red to post Yen 11 million net losses for the term, compared
with Yen 8 million net profit a year ago.
For the current term ending Aug 2013 the operations are expected to come
back to profitability to post Yen 10 million net profit, on a 3% rise in
turnover, to Yen 740 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct 2000
Regd No.: 0300-01-065024 (Saitama-Koshigaya)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued: 200
shares
Sum: Yen 10 million
Major shareholders (%): Hiroshi Okuma (82), Kesako
Okuma (18)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
plastic insulators: micro coaxial cables, low loss antenna cable, heat seal
colored tapes, medical multi coaxial cables, skin tapes, shield tapes, color
tapes, insulation tapes, others (--100%)
More than 50% of
the products are exported to China, other
Clients: [Mfrs,
wholesalers] Hitachi Electric Wire, Hitachi Cable Manchester, Hitachi Cable
Johor, Hitachi Cable Shanghai, Shin Din Cable Ltd, Totoku Electric Co,
other
No. of accounts: 300
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Seiwa Co, Tokai Rubber Ind, MA Packaging, Ryoju Corp, Hiyama Ind,
other
Payment record: Slow
Location: Business area in
Koshigaya, Saitama-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Koshigaya)
Saitama
Resona Bank (Koshigaya)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
Annual
Sales |
|
740 |
716 |
853 |
1,450 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
10 |
-11 |
3 |
28 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
84 |
95 |
92 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.35 |
-16.06 |
-41.17 |
64.59 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.35 |
-1.54 |
0.35 |
1.93 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/08/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
UK Pound |
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.71.33 |
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 |
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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 |
|
<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.