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Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
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Name : |
J POWER-SYSTEMS CORPORATION |
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Registered Office : |
Mita 43 MT Bldg 8F, 3-13-16 Mita Minatoku
Tokyo 103-0073 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
July 2001 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of electric transmission cables |
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No. of Employees : |
1,100 |
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 |
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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 – 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 |
J POWER-SYSTEMS CORPORATION
KK J power Systems
Mita 43 MT Bldg
8F, 3-13-16 Mita Minatoku Tokyo 103-0073 JAPAN
Tel:
03-5232-4700 Fax: 03-5232-4717
URL: www.jpoer.co.jp
E-Mail address: (thru the URL)
Mfg of
electric transmission cables
Hitachi
Hitachi
(3), Osaka
SADAO
FUKUNAGA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 76,613 M
PAYMENTS No
Complaints CAPITAL Yen
8,000 M
TREND UP WORTH Yen 7,408 M
STARTED 2001 EMPLOYES 1,100
MFR OF ELECTRIC TRANSMISSION CABLES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established jointly by Hitachi Metals & Sumitomo Electric Industries to integrate electric cable mfg & operations. This is a specialized mfr of electric transmission cables, others. Goods are exported. Domestic clients include major electric powers nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 76,613 million, a 14% up from Yen 67,567 million in the previous term. The operations recovered from the deficit last term to post yen 198 million recurring profit and Yen 761 million net profit, respectively, compared with yen 2 million recurring loss and Yen 4,817 million net losses, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 900 million and the net profit at Yen 800 million, respectively, on a 5% rise in turnover, to Yen 80,500 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jul
2001
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
640,000 shares
Issued:
160,000 shares
Sum: Yen 8,000 million
Major shareholders (%): Hitachi Metals (50), Sumitomo
Electric Ind (50)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures electric transmission cables, others (--100%)
Clients: [Mfrs, wholesalers] Hitachi Metal, Sumitomo Electric Ind, Tokyo Electric Power, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Hitachi Metal, Sumitomo Electric Ind, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (H/O)
Mizuho Bank (Marunouchi-Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
80,500 |
76,613 |
67,567 |
70,518 |
|
Recur.
Profit |
|
900 |
198 |
-2 |
|
|
Net
Profit |
|
800 |
761 |
-4,817 |
-3,985 |
|
Total
Assets |
|
|
62,676 |
50,371 |
51,666 |
|
Current
Assets |
|
|
55,096 |
42,982 |
|
|
Current
Liabs |
|
|
46,865 |
33,900 |
|
|
Net
Worth |
|
|
7,408 |
8,125 |
13,893 |
|
Capital,
Paid-Up |
|
|
8,000 |
8,000 |
8,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.07 |
13.39 |
-4.18 |
-11.64 |
|
|
Current Ratio |
|
.. |
117.56 |
126.79 |
.. |
|
N.Worth Ratio |
.. |
11.82 |
16.13 |
26.89 |
|
|
R.Profit/Sales |
|
1.12 |
0.26 |
0.00 |
.. |
|
N.Profit/Sales |
0.99 |
0.99 |
-7.13 |
-5.65 |
|
|
Return On Equity |
.. |
.. |
-59.29 |
-28.68 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
UK Pound |
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
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.