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Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
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Name : |
MAC CO LTD |
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Registered Office : |
Chiba Higashi Techno Green Park, 1-12-5 Okayamadai Togane Chiba-Pref 283-0826 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
April 1974 |
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Com. Reg. No.: |
(Chiba-Togane) 000703 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of commercial/industrial-use refrigerators, cooling system, oil controllers |
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No. of Employees : |
16 |
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 : |
Small Company |
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Payment Behaviour : |
Regular |
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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
MAC CO LTD
REGD NAME: KK
Mac
MAIN OFFICE: Chiba
Higashi Techno Green Park, 1-12-5 Okayamadai Togane Chiba-Pref
283-0826 JAPAN
Tel:
0475-50-1881 Fax: 0475-50-1880
URL: http//:www.macthelife.jp
E-mail: macthelife@nifty.com
Mfg of
commercial/industrial-use refrigerators, cooling system, oil controllers
Nil
At the caption
address (2)
HIROAKI
MATSUSHITA, PRES
Kazuo Furukawa,
s/mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 273 M
PAYMENTSREGULAR CAPITAL Yen
60 M
TREND SLOW WORTH Yen 107 M
STARTED 1974 EMPLOYES 16
MFR OF
REFRIGERATORS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established by Yoichi Hirai, now ch, in order to make most of his experience in
the subject line of business. This
business manufactures commercial & industrial-use refrigerators, cooling
systems, control boilers, other. Goods
are exported. Clients include major
heavy machinery makers, other, nationwide.
Financials are only partially disclosed for
the 31/12/2012 fiscal term.
The sales volume for Dec/2012
fiscal term amounted to Yen 273 million, a 46% down from Yen 505 million in the
previous term. Large lot orders received
in the previous term were gone. Exports
decreased. The firm decreased employees
to 16 from 35 in the previous year. The
operations plunged into the red to post Yen 50 million for the term, compare
with Yen 4 million net profit a year ago.
.
For the current
term ending Dec 2013the operations are projected to come back to profitability
but still limited to a minimum amount post-taxes, on a 3% rise in turnover, to
Yen 280 million.
The financial situation
is considered maintained FAIR and good for ORDINARY business engagements.
Date Registered: Apr 1974
Regd No.:
(Chiba-Togane) 000703
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 48,000 shares
Issued: 12,000 shares
Sum: Yen 60 million
Major shareholders (%): Hiroaki
Matsushita (50), Sachiko Matsushata (20), other
No. of shareholders: 10
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Manufactures
commercial & industrial-use refrigerators, cooling systems, oil
controllers, other (--100%)
Clients: [Mfrs, wholesalers]
Mitsubishi Heavy Industries, Asahi Glass Co, Okuma Corp, Sojitz Machinery Corp,
Tsuda Industries Co, Yamazaki Mazak Corp, Ulvac Inc, Japan Viline Co, Hirano
Ko-On Co, Chugoku Electric Power, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sunrise Ind, Toshiba Carrier Transicold Corp, Emerson Japan, Japan
Oil Pump, other
Payment record: Regular
Location: Business area in
Chiba. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Chiba Bank
(Togane)
Keiyo Bank
(Togane)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual
Sales |
|
280 |
273 |
505 |
320 |
|
Recur.
Profit |
|
.. |
.. |
9 |
1 |
|
Net
Profit |
|
0 |
-50 |
4 |
1 |
|
Total
Assets |
|
|
N/A |
575 |
679 |
|
Net
Worth |
|
|
107 |
157 |
156 |
|
Capital,
Paid-Up |
|
|
60 |
60 |
60 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.56 |
-45.94 |
57.81 |
10.34 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
27.30 |
22.97 |
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N.Profit/Sales |
0.00 |
-18.32 |
0.79 |
0.31 |
|
Notes: Finances
are only partially disclosed for the 31/12/2012 fiscal term.
Forecast (or
estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.57 |
|
|
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.73.64 |
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 |
|
<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.