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Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
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Name : |
OBARA CORPORATION |
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Registered Office : |
4151 Fujinuta Sakaigawa Fuefuki Yamanashi-Pref 406-0853 |
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Country : |
Japan |
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Date of Incorporation : |
October 2011 |
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Com. Reg. No.: |
0900-01-007740 (Yamanashi-Fuefuki) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of electric welding equipment |
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No. of Employees : |
176 |
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 : |
Unknown |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 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
OBARA CORPORATION
REGD NAME: Obara
KK
MAIN OFFICE: 4151
Fujinuta Sakaigawa Fuefuki Yamanashi-Pref 406-0853 JAPAN
Tel:
055-266-5482 Fax: 055-266-5444
*.. The is its Kanagawa
Branch Office
E-Mail address: adm@obata.co.jp
Mfg of electric
welding equipment
Tokyo, Kanagawa
(as given), Toyoda, Osaka, Fukuoka, Hiroshima
Use, Korea,
Malaysia, Thailand, China (2), Mexico, Australia, India, UK, Russia
(subsidiaries)
RITSUZO MOCHIDA,
PRES
Mitsuhisa
Yamashita, v pres
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 7,520 M
PAYMENTS UNKNOWN
CAPITAL Yen 99 M
TREND UNDETD WORTH Yen
268 M
STARTED 2011 EMPLOYES 176
MFR OF ELECTRIC WELDING EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established originally in 1955 for mfg electrical contacts, and in 2011 formed
a holding company, Obara Holding Inc, and became its subsidiary. This is a specialized mfr of resistance
welding equipment and peripherals.
Clients include auto makers, auto assemblers, other.
Financials are
consolidated by the parent, Obara Holding Inc, and only partially disclosed.
The sales volume for the first accounting
term ending Sept/2012 fiscal term amounted to Yen 7,520 million, with profits
at Yen 242 million.
For the current term
ending Aug 2013 the net profit is projected at Yen 250 million, on a 3% rise in
turnover, to Yen 7,750 million. Sales
are performing better than expected, buoyed by active capital spending by automakers
and cultivation of non-Japanese-affiliated companies.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct
2011
Regd No.:
0900-01-007740 (Yamanashi-Fuefuki)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7,921 shares
Issued: 1,980 shares
Sum: Yen 99 million
Major
shareholders (%): Obara Holding Inc* (100)
*.. Holding company of
12 Obara Group firms, mfg resistance welding machinery, Kanagawa, founded 2011
(originally in 1958), listed Tokyo S/E, capital Yen 1,925 million, sales Yen
32,259 million, operating profit Yen 4,469 million, recurring profit Yen 4,604 million, net profit Yen 2,718 million,
total assets Yen 35,103 million net worth Yen 24,147 million, employees 1,666,
pres Yasushi Obara
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
resistance welding equipment, others (--100%)
Clients: Automakers,
others
No. of accounts:
300
Domestic areas of
activities: Nationwide
Payment record: Unknown
Location: Business area in
Fuefuki, Yamanashi-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Kofu)
Relations: Satisfactory
(In Million Yen)
FINANCIALS ARE DISCLOSED FOR THE FIRST FISCAL YEAR
ONLY
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.44 |
|
|
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
-- |
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.