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Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
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Name : |
MDI CORPORATION |
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Registered Office : |
3-12-10 Asada Kawasakiku Kawasaki City Kanagawa-Pref 210-0847 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2012 |
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Date of Incorporation : |
Dec 2005 |
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Com. Reg. No.: |
0200-01-077359
(Kawasaki-Higashicho) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturer of heat
exchangers, cooling towers, liquid coolant, other |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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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 |
MDI CORPORATION
MDI KK
MAIN OFFICE: 3-12-10
Asada Kawasakiku Kawasaki City Kanagawa-Pref 210-0847 JAPAN
Tel:
044-201-6822 Fax: 044-201-2122
*..
Moved to the caption address in Oct 2012 from the former as given
Registered at: 2-13-1 Watarida
Higashicho Kawasaki City, as given
URL: http//:www.mdirect.jp
E-mail: accept@mdirect.jp
Mfg of
heat exchangers, cooling towers, liquid coolant, other
Nil
At the
caption address
KENJI
IWASAWA, PRES
Hideo
Iwasawa, dir
Atsushi
Adachi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 280 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 10 M
TREND STEADY WORTH Yen
93 M
STARTED 2005 EMPLOYES 8
MFR
SPECIALIZING IN HEAT EXCHANGERS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Kenji Iwasawa in
order to make most of his experience in the subject line of business. This is a specialized mfg of heat exchangers,
cooling towers, liquid coolant, heat pump chillers, other. Goods are exported. Clients include major steel mfrs, chemical
mfrs, other, nationwide.
Financials are only partially disclosed.
The sales volume for Aug/2012 fiscal term amounted to Yen 280
million, an 8% up from Yen 260 million in the previous term. Exports were robust. The net profit was posted at Yen 8 million,
compared with Yen 5 million a year ago.
For the current term ending Aug 2013 the net profit is
projected at Yen 8 million, on a 2% rise in turnover, to Yen 285 million. Business is seen steadily expanding.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Dec
2005
Regd No.: 0200-01-077359
(Kawasaki-Higashicho)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen
10 million
Major shareholders (%):
Kenji Iwasawa (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures: plate heat exchangers,
cooling towers, heat pump chillers, dynamic descalers, scale/titanium/aluminum
liquid coolants, other (--100%)
Clients: [Steel mfrs, chemical mfrs,
wholesalers] Nippon Steel Corp, Nippon Steel Chemicals, Mitsui Chemical,
Hitachi Appliance, IHI Corp, Mitsubishi Heavy Ind, Hitachi-Kucho SE Ltd,
Hachiyo Engineering Corp, other
Goods are exported to China,
other S/E Asian countries
No. of
accounts: 200
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Precision
Dynamics Corp, TERRA Cooling Tower, Tokyo Titanium Co, Hamada Kogyo Co, Hachiyo
Engineering Corp, other
Payment record: No
Complaints
Location:
Business area in Kawasaki. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Kawasaki)
Bank
of Yokohama (Oshima)
Relations:
Satisfactory
(In Million Yen)
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31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
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Annual
Sales |
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285 |
280 |
260 |
220 |
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Recur.
Profit |
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Net
Profit |
|
8 |
8 |
5 |
4 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
|
|
93 |
85 |
80 |
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Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.79 |
7.69 |
18.18 |
2.33 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
2.81 |
2.86 |
1.92 |
1.82 |
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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.53.98 |
|
UK Pound |
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.08 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit
not recommended |
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-- |
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.