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Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
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Name : |
MATSUSE CO LTD |
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Registered Office : |
2820-2 Ohtakocho Miyoshi City Hiroshima-Pref 729-6211 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2011 |
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Date of Incorporation : |
January, 1988 |
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Com. Reg. No.: |
2400-01-024518 |
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Legal Form : |
Limited Company |
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Line of Business : |
Engineering works of well drilling, plumbing works; wholesale of plumbing
machinery/equipment (--100%) |
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No. of Employees : |
11 |
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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Maximum Credit Limit: |
YEN 1.6 million |
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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.
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Source : CIA |
MATSUSE CO LTD
KK Matsuse
2820-2 Ohtakocho Miyoshi City Hiroshima-Pref 729-6211 JAPAN
Tel: 0824-66-1935 Fax:
0824-66-1205
URL: N/A
Well drilling, plumbing works
Nil
At the caption address
MASAMI MATSUSE, PRES Akemi
Fujii, dir
Toshiko Matsuse, dir Tokuzo
Yamamoto, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 139 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 13 M
TREND UP WORTH Yen 26 M
STARTED 1988 EMPLOYES 11
WELL DRILLING & PLUMBING WORKS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1.6 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Masami Matsuse in order to make most
of his experience in the subject line of business. This is an engineering company specializing
in well drilling & plumbing works.
Clients include municipal offices, consultants, other.
The sales volume for Aug/2011 fiscal term amounted to Yen 139 million, a
40% up from Yen 99 million in the previous term. Work demand rose after the Great North Japan
Earthquake that occurred in Mar 2011.
The recurring profit was posted at Yen 6 million and the net profit at
Yen 1 million, respectively, compared with Yen 2 million net losses a year ago.
For the term that ended Aug 2012 the recurring profit was projected at
Yen 7 million and the net profit at Yen 5 million, respectively, on a 4% rise
in turnover, to Yen 145 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1.6 million, on 30 days normal terms.
Date Registered: Jan
1988
Regd No.: 2400-01-024518
(Hiroshima-Miyoshi)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 1,040 shares
Issued:
260 shares
Sum: Yen
13 million
Major shareholders (%): Masami Matsuse (50), Akemi Fujii (30),
Toshiko Matsuse, Tokuzo Yamamoto (each 10)
No. of
shareholders: 4
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Engineering
works of well drilling, plumbing works; wholesale of plumbing
machinery/equipment (--100%)
Clients: [Public agencies,
mfrs, wholesalers] San-In Kubota Suido Youzai Co, KK Mochida, Kyowa Chiken
Consultant Co, other
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Nagaoka Shoji Co, Tokiwa Motor, Isuzu Motor (Chugoku & Shikoku areas),
Mechatech Kimura Co, Grundfos Pumps KK, Kagota Boring Co, Araki Shokai, other
Payment record: No Complaints
Location: Business area in
Miyoshi City, Hiroshima-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Chugoku Bank (Miyoshi)
Hiroshima Midori Shinkin Bank (Miyoshizaka)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/08/2012 |
31/08/2011 |
31/08/2010 |
31/08/2009 |
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Annual Sales |
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145 |
139 |
99 |
98 |
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Recur. Profit |
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7 |
6 |
-15 |
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Net Profit |
|
5 |
1 |
-2 |
-9 |
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Total Assets |
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|
135 |
138 |
136 |
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Current Assets |
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|
47 |
47 |
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Current Liabs |
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20 |
19 |
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Net Worth |
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26 |
25 |
28 |
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Capital, Paid-Up |
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|
13 |
13 |
13 |
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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 |
4.32 |
40.40 |
1.02 |
-27.41 |
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Current Ratio |
|
.. |
235.00 |
247.37 |
.. |
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N.Worth Ratio |
.. |
19.26 |
18.12 |
20.59 |
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R.Profit/Sales |
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4.83 |
4.32 |
-15.15 |
.. |
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N.Profit/Sales |
3.45 |
0.72 |
-2.02 |
-9.18 |
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Return On Equity |
.. |
3.85 |
-8.00 |
-32.14 |
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Notes: Forecast (or estimated) figures for the 31/08/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
|
1 |
Rs.85.25 |
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Euro |
1 |
Rs.71.72 |
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.