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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
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Name : |
ENSERVE CO LTD |
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Registered Office : |
Yurakucho Bldg 208, 1-10-1 Yurakucho Chiyodaku Tokyo 100-0006 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2012 |
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Date of Incorporation : |
September, 2010 |
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Com. Reg. No.: |
0100-01-135030 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of oil & natural gas drilling equipment |
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No. of Employees : |
1 |
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 : |
Moderate |
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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) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
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Source : CIA |
ENSERVE CO LTD
Enserve KK
Yurakucho Bldg 208, 1-10-1 Yurakucho Chiyodaku Tokyo 100-0006 JAPAN
Tel: 03-6269-9036 Fax:
03-6269-9880
URL: N/A
Import, wholesale of oil & natural gas drilling equipment
Nil
KEITA MATSUNOKI, PRES
Yen Amount: In million Yen,
unless otherwise stated
FINANCES R/WEAK A/SALES Yen 253 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 20 M
TREND UP WORTH Yen 25 M
STARTED 2010 EMPLOYES 1
TRADING FIRM SPECIALIZING IN OIL/NATURAL GAS DRILLING/MINING
EQUIPMENT.
FINANCIAL SITUATION CONSDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUISNESS ENGAGEMENTS.
The subject company was established by Keita Matsunoki in order to make
most of his experience in the subject line of business. This is a trading firm for import, export and
wholesale of oil & natural gas drilling equipment & facilities, mining
equipment, other. Goods are exported to
Middle East.
The sales volume for Aug/2012 fiscal term amounted to Yen 253 million, a
sharp 40% rise from Yen 181 million in the previous term. Business has grown and expanded in the second
year term. Exports increased. The recurring profit was posted at Yen 4
million and the net profit at Yen 3 million, respectively, compared with Yen 2
million recurring profit and Yen 1 million net profit, respectively, a year ago
For the current term ending Aug 2013 the recurring profit is projected
at Yen 5 million and the net profit at Yen 5 million, respectively, on a 5%
rise in turnover, to Yen 265 million.
Business is seen expanding steadily.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
Date Registered: Sept
2010
Regd No.: 0100-01-135030
(Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 1,600 shares
Issued:
400 shares
Sum: Yen 20 million
Major shareholders
(%):
Keita Matsunoki (100)
Nothing detrimental is known as to his commercial morality.
Activities: A trading firm
for import and export of oil & natural gas drilling facilities &
equipment, mining machinery/equipment, and related products (--100%)
Clients: Exports to
Middle East, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: Mfrs, wholesalers,
other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Kanda)
Relations: Money deposits & transfers only
(In Million Yen)
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Terms Ending: |
31/08/2013 |
31/08/2012 |
31/08/2011 |
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Annual Sales |
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265 |
253 |
181 |
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Recur. Profit |
|
5 |
4 |
2 |
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Net Profit |
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5 |
3 |
1 |
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Total Assets |
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|
50 |
35 |
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Current Assets |
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|
44 |
29 |
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Current Liabs |
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25 |
14 |
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Net Worth |
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25 |
21 |
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Capital, Paid-Up |
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20 |
20 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.74 |
39.78 |
- - -.. |
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Current Ratio |
|
.. |
176.00 |
207.14 |
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N.Worth Ratio |
.. |
50.00 |
60.00 |
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R.Profit/Sales |
|
1.89 |
1.58 |
1.10 |
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N.Profit/Sales |
1.89 |
1.19 |
0.55 |
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Return On Equity |
.. |
12.00 |
4.76 |
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Notes: The 31/08/2011 is the initial accounting term since inception.
Forecast figures for the 31/08/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.83.80 |
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Euro |
1 |
Rs.70.49 |
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.