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Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
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Name : |
ERBIS ENGINEERING CO LTD |
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Registered Office : |
Kamiyacho Plaza Bldg 6F, 4-1-14 Toranomon Minatoku Tokyo 105-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
July, 1978 |
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Com. Reg. No.: |
0104-01-005623 |
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Legal Form : |
Limited Company |
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Line of Business : |
Export of medical instruments/equipment, AV equipment, electronics
parts |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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.
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Source : CIA |
ERBIS ENGINEERING
CO LTD
Erbis Engineering KK
Kamiyacho Plaza Bldg 6F, 4-1-14 Toranomon Minatoku Tokyo 105-0001 JAPAN
Tel: 03-3436-0311
Fax: 03-3436-0312
URL: http://www.erbis.co.jp/
E-mail: sales@erbis.co.jp
Export of medical instruments/equipment, AV equipment, electronics parts
Nagano, Osaka, Nagoya, Fukuoka, other (Tot 27)
India (3), Bangladesh, Nepal (--subsidiaries)
KATSUSHI SOTOMATSU, PRES
Norio Tajima, dir
Kenji Sotomatsu, dir
Yen Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,986 M
PAYMENTS SLOW CAPITAL Yen 10 M
TREND SLOW WORTH Yen 571 M
STARTED 1978 EMPLOYES 10
EXPORTER OF MEDICAL EQUIPMENT, AS AGENT FOR TOSHIBA MEDICAL SYSTEMS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established by Katsushi Sotomatsu in order to
make most of his experience in the subject line of business, on obtaining
agency exporting business agreement from Toshiba Medical Systems. This is a trading firm specializing in
medical equipment: cardio-vascular systems, fluoroscopy, radiography, mobile
X-ray unit, other. 70% of the goods are
wholly supplied from Toshiba Medical Systems.
Has three overseas subsidiaries: India (3), Bangladesh and Nepal. Indian Subsidiary operates 13 branches, 11
sales & service offices, with a total 160 employees.
Financials are only partially disclosed.
The sales volume for Dec/2011 fiscal term amounted to Yen 1,986 million,
a 21% down from Yen 2,524 million in the previous term. Exports were hurt by the high Yen, reducing
export revenues & profits in Yen terms.
The operations plunged into the red to post Yen 143 million net losses
for the term, compared with Yen 28 million net profit a year ago.
For the term that ended Dec 2012 the operations were projected to come
back to profitability to post Yen 20 million net profit, on a 3% rise in
turnover, to Yen 2,050 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jul
1978
Regd No.: 0104-01-005623
(Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 80,000 shares
Issued: 20,000
shares
Sum: Yen 10 million
Major shareholders
(%):
Katsushi Sotomatsu (55), Masako
Sotomatsu (25)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Exports medical
equipment as agent for Toshiba Medical systems: cardio-vascular systems,
fluoroscopy, radiography, mammography, mobile C-Arm, mobile X-ray unit, health-care
goods, other (70%), AV equipment (10), electronics parts & components
(10%), others (10%).
Clients: [Hospitals,
wholesalers] Apollo Hospitals, Billroth Hospitals, Bombay Hospital, Care
Hospitals, Christian Medical College, Columbia Asia, Fortis Healthcare,
Lilavati Hospital & Research Center, Wockhardt Hospital, other
No. of accounts: Unavailable
Domestic areas of
activities: Nationwide
Suppliers [Mfrs,
wholesalers] Toshiba Medical Systems (70%), Fuji Film, Konica Minolta MG,
Clarion, Alps Electric, Toray Medical, IHI Shibaura, Hitachi Ltd, other
Payment record: Slow
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Kamiyacho)
Shoko Chukin Bank (H/O)
Relations: Satisfactory
(In Million Yen)
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31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual
Sales |
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2,050 |
1,986 |
2,524 |
1,652 |
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Recur.
Profit |
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|
16 |
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Net
Profit |
|
20 |
-143 |
28 |
10 |
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Total
Assets |
|
|
N/A |
N/A |
1,969 |
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Net
Worth |
|
|
571 |
715 |
695 |
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Capital,
Paid-Up |
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|
10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.22 |
-21.32 |
52.78 |
-49.08 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
35.30 |
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N.Profit/Sales |
0.98 |
-7.20 |
1.11 |
0.61 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2012 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.64 |
|
|
1 |
Rs.87.45 |
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Euro |
1 |
Rs.72.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.