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Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
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Name : |
JRC CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
29.02.2012 |
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Date of Incorporation : |
March 1991 |
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Com. Reg. No.: |
1200-01-044197 (Osaka-Nishiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of belt conveyors & peripherals |
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No. of Employees : |
159 |
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 102.5 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 |
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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
JRC CO LTD
REGD NAME: KK
J. R. C
MAIN OFFICE:
Tel:
06-6543-8680 Fax: 06-6543-8681
E-Mail address: (thru the URL)
Mfg of belt conveyors
& peripherals
Tokyo, Yokohama,
Sapporo, Sendai, Saitama, Aichi, Kobe, Hiroshima,
Kagoshima
China (2), Egypt,
Iran, Iraq, Saudi Arabia, Indonesia, Malaysia
Kobe, Asahikawa,
Kagoshima, Saitama
YOSHIHIRO
HAMAGUCHI, PRES
Minoru Hamaguchi,
v pres
Nobuhiro
Hayashida, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 4,113 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
80 M
TREND UP WORTH Yen 3,162 M
STARTED 1991 EMPLOYES 159
MFR OF BELT CONVEYORS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 102.5 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established originally in 1961 by Takumi Hamaguchi in order to make most of his
experience in the subject line of business.
Incorporated in 1991 the firm has been succeeded by his descendants. This is a specialize mfr of belt conveyors
and peripherals. Products are
exported. Operates sales/marketing
offices in China (2), Egypt, Iran, Iraq, Saudi Arabia, Indonesia and
Malaysia. Clients include major heavy
machinery makers.
The sales volume for
Feb/2012 fiscal term amounted to Yen 4,113 million, an 11% up from Yen 3,719
million in the previous term. Exports
were robust into Mid East and China. The
recurring profit was posted at Yen 321 million and the net profit at Yen 168
million, respectively, compared with Yen 348 million recurring profit and Yen
190 million net profit, respectively, a year ago.
For the term that ended
Feb 2013 the recurring profit was projected at Yen 330 million and the net
profit at Yen 170 million, respectively, on a 3% rise in turnover, to Yen 4,250
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 102.5
million, on 30 days normal terms.
Date Registered: Mar 1991
Regd No.:
1200-01-044197 (Osaka-Nishiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
6,400
shares
Issued: 1,600 shares
Sum: Yen 80 million
Major shareholders (%): Yoshihiro
Hamaguchi (32), Employees’ S/Holding Assn (12)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
belt conveyors and peripherals (--100%)
(Mfg
Items): belt conveyor idlers & pulleys, peripherals (FRP covers, belt
cleaners, belt sway switches, emergency pull cord switches, others.
Clients: [Mfrs,
wholesalers] Kobe Steel, Mitsubishi Heavy Ind, Kawasaki Heavy Ind, Nikko Co,
other
No. of accounts:
200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Maruichi Steel Tube Ltd, Subaru Steel Co, Nichiden Corp, Satoh
Kinzoku Seisakusho, other
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Uehonmachi)
Mizuho Bank
(Nanba)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
28/02/2013 |
29/02/2012 |
28/02/2011 |
28/02/2010 |
|
|
Annual
Sales |
|
4,250 |
4,113 |
3,719 |
3,616 |
|
Recur.
Profit |
|
330 |
321 |
348 |
|
|
Net
Profit |
|
170 |
168 |
190 |
165 |
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Total
Assets |
|
|
7,956 |
6,188 |
5,386 |
|
Current
Assets |
|
|
2,038 |
1,807 |
|
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Current
Liabs |
|
|
2,452 |
1,646 |
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Net
Worth |
|
|
3,162 |
3,050 |
2,906 |
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Capital,
Paid-Up |
|
|
80 |
80 |
80 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.33 |
10.59 |
2.85 |
-19.39 |
|
|
Current Ratio |
|
.. |
83.12 |
109.78 |
.. |
|
N.Worth Ratio |
.. |
39.74 |
49.29 |
53.95 |
|
|
R.Profit/Sales |
|
7.76 |
7.80 |
9.36 |
.. |
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N.Profit/Sales |
4.00 |
4.08 |
5.11 |
4.56 |
|
|
Return On Equity |
.. |
5.31 |
6.23 |
5.68 |
|
Notes: Forecast
(or estimated) figures for the 28/02/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.73 |
|
|
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
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 |
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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 |
|
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 |
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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.