|
Report Date : |
03.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
VICON JAPAN KK |
|
|
|
|
Registered Office : |
2-25-9 Shimotoda Toda City Saitama-Pref
335-0011 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.11.2013 |
|
|
|
|
Date of Incorporation : |
December 1975 |
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|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
importer and
wholesaler of agricultural
machinery such as manure spreader, forage harvester, grass cutter |
|
|
|
|
No. of Employees : |
25 |
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 |
|
Maximum Credit Limit : |
Yen 44.7 Million |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 small agricultural sector is highly subsidized and protected, with
crop yields among the highest in the world. While self-sufficient in rice
production, Japan imports about 60% of its food on a caloric basis. 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. Modest economic growth continued after 2000, but the
economy has fallen into recession three times since 2008. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan 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 and the ensuing tsunami in March disrupted
manufacturing. The economy has largely recovered in the two years since the
disaster, but reconstruction in the Tohoku region has been uneven.
Newly-elected Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has pledged to reconsider his predecessor's plan
to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
VICON JAPAN KK
KK Vicon Japan
2-25-9 Shimotoda Toda
City Saitama-Pref 335-0011 JAPAN
Tel:
048-444-1073 Fax: 048-444-1069
URL: http://www.viconjapan.com
E-Mail address: (thru the URL)
Import,
wholesale of agricultural machinery
Sapporo,
Obihiro, Fukushima, Iwate, Kumamoto
Fukushima
(Warehouse)
YASUTO
MORI, PRES
Toru
Ishikawa, ch
Kikuo
Hirota, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,433 M
PAYMENTS No Complaints CAPITAL Yen 46 M
TREND UP WORTH Yen 648 M
STARTED 1975 EMPLOYES 25
TRADING FIRM SPECIALIZING IN
AGRICULTURAL MACHINERY.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 44.7 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by K Vicon (Holland) as its marketing arm in Japan. This is a trading firm for import and wholesale of agricultural machinery: manure spreader, forage harvester, grass cutter, other. Goods supplied from the Dutch parent and its group firms. Clients include major agricultural makers, wholesalers, other.
Financials are consolidated by the parent and only partially disclosed.
The sales volume for Nov/2012 fiscal term amounted to Yen 2,433 million, a 7% up from Yen 2,277 million in the previous term. Sales increased particularly for quake-ridden areas in the North Japan. The net profit was posted at Yen 20 million, compared with Yen 70 million a year ago.
For the current term ending Nov 2013 the net profit is projected at Yen 25 million, on a 5% rise in turnover, to Yen 2,550 million. The term has just ended.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 44.7 million, on 30 days normal terms.
Date Registered: Dec 1975
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
93,000 shares
Issued:
93,000 shares
Sum: Yen 46.5 million
Major shareholders (%): GreenTech Inc (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales agricultural machinery/equipment: manure spreader, forage harvester, grass cutter, other (--100%)
Clients: [Mfrs, wholesalers] Kubota Corp, Yanmar Agricultural Equipment Sales, Mitsubishi Agricultural Machinery, MSK Farm Machinery Corp, New Holland HFT Japan Inc, Takakita Co, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Vicon (Holland), Maschio, Ferri (--Italy), Kongskilde (Denmark), Trioriet (Holland), other
Payment record: No Complaints
Location: Business area in Saitama. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Asakusabashi)
Sugamo Shinkin Bank (Toda)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/11/2013 |
30/11/2012 |
30/11/2011 |
30/11/2010 |
|
Annual
Sales |
|
2,550 |
2,433 |
2,277 |
2,431 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
25 |
20 |
70 |
53 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
648 |
634 |
585 |
|
Capital,
Paid-Up |
|
|
46 |
46 |
46 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.81 |
6.85 |
-6.33 |
7.57 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.98 |
0.82 |
3.07 |
2.18 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/11/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.23 |
|
UK Pound |
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.64 |
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.