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Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
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Name : |
TAISEI MONAC CO LTD |
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Registered Office : |
1-5-8 Sumida Higashi-Osaka Osaka-Pref 578-0912 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
July 1969 |
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Com. Reg. No.: |
1220-01-004419 (Osaka-Higashiosaka) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of flexible shafts, liner |
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No. of Employees : |
52 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit: |
Yen 34.2 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 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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
TAISEI MONAC CO LTD
REGD NAME: Taisei
Monac KK
MAIN OFFICE: 1-5-8
Sumida Higashi-Osaka Osaka-Pref 578-0912 JAPAN
Tel:
072-966-8885
Fax: 072-966-8860
URL: http://www.taisei-monac.co.jp
E-Mail address: info@taisei-monac.co.jp
Mfg of flexible
shafts, liner, other
Nil
Taiwan
At the caption
address, Kobe; China
TOSHIYA KURIHARA,
PRES Itsuro Hamamoto, mgn dir
Mitsutaka
Fuchisaki, dir Isamu
Nakanishi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,876 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 40 M
TREND SLOW WORTH Yen
447 M
STARTED 1969 EMPLOYES 52
MFG OF ENGINE SHAFTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 34.2 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established by Yoshiaki Ishikawa in order to make most of his experience in the
subject line of business. This is a
specialized mfr of flexible shafts, liners, other for all-purpose internal
combustion engines. Has a mfg base in
China. Clients are engine mfrs,
wholesalers, other.
Financials are only partially disclosed.
The sales volume for May/2012 fiscal term
amounted to Yen 1,876 million, a 10% down from Yen 2,093 million in the
previous term. Demand decreased due to
slow industrial activities, particularly in China, where the firm has a mfg
base. The net profit was posted at Yen
78 million, compared with Yen 112 million a year ago.
For the term that ended May 2013 the net profit was projected at Yen 80
million, on a 4% rise in turnover, to Yen 1,950 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 34.2
million, on 30 days normal terms.
Date Registered: Jul
1969
Regd No.:
1220-01-004419 (Osaka-Higashiosaka)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 320,000 shares
Issued: 80,000 shares
Sum: Yen 40 million
Major
shareholders (%): Yoshiaki Ishikawa (20), Osaka Small & Medium Business Investment
& Consultation Co (20), Toshiya Kurihara (5), other
No. of shareholders: 13
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
clean machines: flexible shafts, non-grease flexible shafts, flexible liners,
star-shaper liners, TS liners, other for all-purpose internal combustion
engines (--100%)
Clients: [Mfrs,
wholesalers] Maruyama Mfg Co, Komatsu Zenoah Co, Yamabiko Corp, Nikkari Co,
Fuji Robin, Daishin Ind, Toho Rubber, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Acro Nainen, Osaka Flexible Ind, Chuo-Flexy Co, TTC Corporation,
Okamoto Ind, Joban Machinery Co, other
Payment record: No Complaints
Location: Business area in
Higashi-Osaka. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
Resona Bank
(Kosaka)
Kinki Osaka Bank
(Higashi-Osaka-Chuo)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
|
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
|
Annual
Sales |
|
1,950 |
1,876 |
2,093 |
1,875 |
|
Recur.
Profit |
|
.. |
.. |
108 |
57 |
|
Net
Profit |
|
80 |
78 |
112 |
-404 |
|
Total
Assets |
|
|
N/A |
1,629 |
1,706 |
|
Net
Worth |
|
|
447 |
393 |
284 |
|
Capital,
Paid-Up |
|
|
40 |
40 |
40 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.94 |
-10.37 |
11.63 |
-12.63 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
24.13 |
16.65 |
|
|
N.Profit/Sales |
4.10 |
4.16 |
5.35 |
-21.55 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
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 |
|
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.