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Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SANYO COUPLINGS CO LTD |
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Registered Office : |
2-2-21 Tenmabashi Kitaku |
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Country : |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
December, 1961 |
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Com. Reg. No.: |
1200-01-064647 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of centrifugal clutch, motor vehicle accessories |
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No. of Employees : |
71 |
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 99.0 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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 |
SANYO COUPLINGS CO
LTD
Sanyo Kogyo KK
2-29-2 Minamikaneden Suita Osaka-Pref 564-0044 JAPAN
Tel: 06-6384-1211
Fax: 06-6338-1415
*.. Registered at: 2-2-21 Tenmabashi Kitaku Osaka
E-Mail address: (thru the URL)
Mfg of centrifugal clutch, motor vehicle accessories
Japan Patent Office #4610343: transversely engaged centrifugal clutch,
granted 09/Sept/1986
Tokyo, Nagoya
At the caption address
CHISATO HIKARI, PRES
Kazuo Hikari, ch
Minoru Tsutsui, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 2,408 M
PAYMENTS REGULAR CAPITAL Yen
96 M
TREND UP WORTH Yen 1,872 M
STARTED 1961 EMPLOYES 71
MFR OF CENTRIFUGAL CLUTCHES & OTHER CAR ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 99.0 MILLION, 30 DAYS NORMAL TERMS
The subject company was established as affiliated with Twiflex Ltd (UK)
for mfg centrifugal clutches. This is a
family-based specialized mfr of motor vehicle accessories: centrifugal
clutches, clampers, torque releasers, other.
Holds patents for transversely engaged centrifugal clutches. Has a subsidiary trading firm, Sanyo Shoji Co
Ltd, at the caption address, for exporting and wholesaling the products. Clients are car mfrs, heavy machinery makers,
other.
The sales volume for Jun/2012 fiscal term amounted to Yen 2,408 million,
a 3% up from Yen 2,342 million in the previous term. The increased production of motor cars
domestically and abroad contributed. The
recurring profit was posted at Yen 344 million and the net profit at Yen 114
million, respectively, compared with Yen 422 million recurring profit and yen
211 million net profit, respectively, a year ago.
For the current term ending Jun 2013 the recurring profit is projected
at Yen 350 million and the net profit at Yen 120 million, respectively, on a 4%
rise in turnover, to Yen 2,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 99.0 million, on 30 days normal terms.
Date Registered: Dec
1961
Regd No.: 1200-01-064647
(Osaka-Kitaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 520,000 shares
Issued:
130,128 shares
Sum: Yen
96 million
Major shareholders (%): Kowa (64), Chisato Hikari (23), Yohei
Hikari (23), Kazuo Hikari (5), Yasue Hikari (5)
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures centrifugal
clutches: disc brakes, service brakes, mechanical disc brakes, posi clampers,
nega clampers (--emergency stopping & clamping), centrifugal clutches,
torque releasers, load testers, other (--100%)
Clients: [Wholesaler]
Sanyo Shoji Co Ltd (subsidiary) for distribution to: Kawasaki Heavy Ind, Kobe
Steel, IHI Corp, Mitsubishi Heavy Ind, Yanmar Co, JFE Engineering, Kubota Corp,
Nippon Steel & Sumitomo Metal Corp, Toshiba Corp, other
No. of accounts: 1
(direct) for distribution to 300 clients
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toyo Tire & Rubber, Bridgestone Co, Twiflex Couplings Ltd,
Wellman-Bibby, other
Payment record: No Complaints
Location: Business area in
Suita, Osaka-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Suita & Esaka-Ekimae)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
|
Annual Sales |
|
2,500 |
2,408 |
2,342 |
2,099 |
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Recur. Profit |
|
350 |
344 |
422 |
261 |
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Net Profit |
|
120 |
114 |
211 |
88 |
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Total Assets |
|
|
2,757 |
2,558 |
2,398 |
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Current Assets |
|
|
2,308 |
2,115 |
1,941 |
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Current Liabs |
|
|
593 |
577 |
520 |
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Net Worth |
|
|
1,872 |
1,779 |
1,585 |
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Capital, Paid-Up |
|
|
96 |
96 |
96 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.82 |
2.82 |
11.58 |
-6.50 |
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Current Ratio |
|
.. |
389.21 |
366.55 |
373.27 |
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N.Worth Ratio |
.. |
67.90 |
69.55 |
66.10 |
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R.Profit/Sales |
|
14.00 |
14.29 |
18.02 |
12.43 |
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N.Profit/Sales |
4.80 |
4.73 |
9.01 |
4.19 |
|
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Return On Equity |
.. |
6.09 |
11.86 |
5.55 |
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Notes: Forecast (or estimated) figures for the 30/06/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.64 |
|
|
1 |
Rs.86.68 |
|
Euro |
1 |
Rs.73.97 |
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 |
|
---- |
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.