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Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
PASCAL CORPORATION |
|
|
|
|
Registered Office : |
2-14-7 Konoike Itami Hyogo-Pref 664-0006 |
|
|
|
|
Country : |
Japan |
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|
|
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Financials (as on) : |
31.03.2012 |
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|
|
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Date of Incorporation : |
May 1974 |
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|
|
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Com. Reg. No.: |
1400-01-1077910 (Hyogo-Itami) |
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|
|
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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|
|
|
Line of Business : |
Mfg of factory automation
equipment & systems |
|
|
|
|
No. of Employees : |
50 |
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 Limited : |
Yen 108.6 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 – 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 |
|
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 |
PASCAL CORPORATION
REGD NAME: Pascal
KK
MAIN OFFICE: 2-14-7
Konoike Itami Hyogo-Pref 664-0006 JAPAN
Tel:
072-777-4555
Fax: 072-777-3520
URL: http://www.pascaleng.co.jp
E-Mail
address: info@pascaleng.co.jp
Mfg of
factory automation equipment & systems
400
(including applications pending)
Kumagaya,
Atsugi, Nagoya, Osaka
USA,
Germany, China (5), Taiwan, Thailand, Korea
Yamagata,
Oita; Dalian (China)
ICHIRO
KITAURA, PRES
Taiichiro
Kitaura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,000 M
PAYMENTS REGULAR CAPITAL Yen
99 M
TREND UP WORTH Yen 1,590 M
STARTED 1974 EMPLOYES 50
MFG OF FA EQUIPMENT & SYSTEMS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 108.6 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Ichiro Kitaura in
order to make most of his experience in the subject line of business. Originally named as Aioi Seiki Inc and
renamed as captioned in 1986. This is a
specialized mfg of factory automation equipment & systems: machine tools,
pressing machines, metal working machines, precision instruments, other (See OPERATION). Has overseas subsidiaries & office in
USA, Germany, China, Korea, Thailand, Taiwan, other. Factory in Dalian (China) supplies to the
local market as well as exports. Clients
include major automakers, engineering firms, machine mfrs, other, nationwide.
Financial are only partially disclosed as is the case with
family-based companies.
The sales volume for Mar/2012
fiscal term amounted to Yen 6,000 million, a 3% down from Yen 6,200 million in
the previous term. High Yen hurt export
revenues and profits in Yen terms. The
net profit is estimated posted at Yen 90 million, compared with Yen 100 million
a year ago. Profits are not precisely
disclosed and they are estimated.
For the current term ending Mar 2013 the net profit is
projected at Yen 100 million, on a 3% rise in turnover, to Yen 6,200
million. Business is seen expanding
steadily.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 108.6 million, on 30 days normal terms.
Date Registered: May 1974
Regd No.: 1400-01-1077910 (Hyogo-Itami)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
199,980 shares
Sum: Yen 99.99 million
Major shareholders (%): Ichiro Kitaura & families
(--100)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures factory automation
equipment & systems: work clamping system, expansion clamp, gas springs,
mini gas spring, molding machine system, octagonal locate ring, magnetic
ejector rod, machine tool system, Pal coupling, press machine system, mag clamp,
die casting machine system, C-plate mag clamp, robot tool changer WVR, Pascal
pumps, other (--100%)
Clients: [Mfrs, wholesalers] Toyota Motor, Aida
Engineering, Fuji Heavy Ind, Toshiba Machine, Mitsubishi Heavy Ind, Komatsu
Ltd, Mori Seiki Co, Fanuc Corp, Toyota Tsusho Corp, Nissan Motor, Honda Motor,
Mitsubishi Motor, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Pascal Yamagata,
Pascal Oita, Pascal Trading, other
Payment record: Regular
Location:
Business area in Itami, Hyogo-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
SMBC
(Itami)
Mizuho
Bank (Kobe)
Relations:
Satisfactory
(In Million Yen)
|
|
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
6,200 |
6,000 |
6,200 |
4,000 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
100 |
90 |
100 |
70 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
1,590 |
1,500 |
1,400 |
|
Capital,
Paid-Up |
|
|
99 |
99 |
99 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth
Rate |
3.33 |
-3.23 |
55.00 |
-46.67 |
|
|
Current
Ratio |
|
|
.. |
.. |
.. |
|
N.Worth
Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.61 |
1.50 |
1.61 |
1.75 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.