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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
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Name : |
QUADRANT PLASTIC COMPOSITES JAPAN LTD |
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Registered Office : |
3 Chitosecho Yokkaichi Mie-Pref 510-0051 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
September 1999 |
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Com. Reg. No.: |
1900-01-015886 (Mie-Yokkaichi) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of glass mat
reinforced thermoplastics |
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No. of Employees : |
42 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan
further 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 in March disrupted manufacturing. Electricity supplies
remain tight because Japan has temporarily shut down almost all of its nuclear
power plants after the Fukushima Daiichi nuclear reactors were crippled by the
earthquake and resulting tsunami. Estimates of the direct costs of the damage -
rebuilding homes, factories, and infrastructure - range from $235 billion to
$310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues 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 |
QUADRANT PLASTIC COMPOSITES JAPAN LTD
Quadrant Plastic
Composites Japan KK
3 Chitosecho
Yokkaichi Mie-Pref 510-0051 JAPAN
Tel:
059-352-3116 Fax: 059-354-0644
URL: www.jgmt.net
E-mail: (thru the URL)
Mfg of
glass mat reinforced thermoplastics
Nil
At the
caption address
SHIGEYA
OISHI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,055 M
PAYMENTSUsually Correct CAPITAL Yen
150 M
TREND SLOW WORTH Yen 260 M
STARTED 1999 EMPLOYES 42
MFR OF
ENGINEERING PLASTICS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established originally by three parties: Nippon
Sheet Glass Co Ltd, Ube Nitto Chemical Co Ltd and Idemitsu Petrochemical Co
Ltd, on transfer of stanpable sheet (KP sheet) business from Idemitsu NSG Co
Ltd, originally as GMT Japan. In Oct
2005, went into capital tie up with Quadrant Plastic Composites AG, Switz, and
in Jan 2006 renamed as captioned. This
is a specialized mfr of engineering plastics: glass mat reinforced
thermoplastic (GMT), high performance thermoplastic materials, and other
related products.
Financials are only partially disclosed.
The sales volume for Dec/2011 fiscal term amounted to Yen 1,055 million,
a 2% down from Yen 1,080 in the previous term.
Demand decreased as affected by the Great North Japan Earthquake in Mar
2011. The net profit was posted at Yen
44 million, compared with Yen 43 million a year ago. .
For the term that ended Dec/2012 the net profit was projected at Yen 45
million, on a 3% rise in turnover, to Yen 1,090 million. Final results are yet to be released.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Sept
1999
Regd No.: 1900-01-015886 (Mie-Yokkaichi)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
3,000 shares
Issued:
3,000 shares
Sum: Yen 150 million
Major shareholders (%):
Quadrant Plastic Composites AG, Switz (80), Nippon Sheet Glass Co (20)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
high-performance thermoplastic products in shapes of: rods, bars, plates, sheets,
tubes, other (--100%).
Clients: [Mfrs,
wholesalers] Sato Shoji Corp, Futaba Industrial Co, Kiso Ind, Goshi Giken Co,
Premac Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Quadrant Plastic Composites AG, OCV Tsu KK, Eikou Bussan Co, Tokyo
Ink, PPG Japan, other.
Payment record: Usually
Correct
Location: Light industrial
area in Yokkaichi. Office premises at
the caption address are owned and maintained satisfactorily.
Bank
References:
Mie Bank (H/O)
MUFG (Yokkaichi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Annual
Sales |
|
1,090 |
1,055 |
1,080 |
808 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
45 |
44 |
43 |
-28 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
260 |
216 |
173 |
|
Capital,
Paid-Up |
|
|
150 |
150 |
150 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.32 |
-2.31 |
33.66 |
-41.66 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
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|
N.Profit/Sales |
4.13 |
4.17 |
3.98 |
-3.47 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.