MIRA
INFORM REPORT
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Report Date : |
11.05.2013 |
IDENTIFICATION DETAILS
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Name : |
WEDGE CO LTD |
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Registered Office : |
4-8-10 Nakanomachi Miyakojimaku Osaka |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
August 1990 |
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Com. Reg. No.: |
1200-01-060991
(Osaka-Miyakojimaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of surface
treatment system, high voltage power supplies |
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No. of Employees : |
21 |
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 : |
Small Company |
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Payment Behaviour : |
Slow but 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 – March 31st 2013
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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 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 |
WEDGE CO LTD
Wedge KK
Sakura Bldg 4F,
4-8-10 Nakanocho Miyakojimaku Osaka 534-0027 JAPAN
Tel:
06-6242-8844 Fax: 06-6242-8845
*.. The is its
Factory;
**.. Registered at:
4-8-10 Nakanomachi Miyakojimaku Osaka
E-Mail address: info.wedge-d@webcatch.jp
Mfg of
surface treatment system, high voltage power supplies
Tokyo,
Nagoya, Kagawa, Kanazawa
Osaka
(as given)
YUKIO
UESUGI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 394 M
PAYMENTSSlow but Correct CAPITAL Yen 60 M
TREND UP WORTH Yen 90 M
STARTED 1990 EMPLOYES 21
MFR OF SURFACE TREATMENT SYSTEM.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated from Kasuga Electric Works Co Ltd, for mfg surface treatment systems. This is a specialized mfr of surface treatment systems, control systems, other. Clients include chemical makers, electric makers, other.
Financials are only partially disclosed.
The sales volume for Aug/2012 fiscal term amounted to Yen 394 million, a 2% up from Yen 386 million in the previous term. The recurring profit was posted at Yen 5 million and the net profit at Yen 4 million, respectively, compared with Yen 6 million recurring profit and Yen 4 million net profit, respectively, a year ago.
For the current term ending Aug 2013 the recurring profit is projected at Yen 6 million and the net profit at Yen 5 million, respectively, on a 4% rise in turnover, to Yen 410 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.
Date Registered: Aug
1990
Regd No.: 1200-01-060991 (Osaka-Miyakojimaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
4,800 shares
Issued:
1,200 shares
Sum: Yen 60 million
Major shareholders
(%): Yukio Uesugi (80), Etsuji Uesugi (20)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures surface treatment systems, control systems (temperature, water flow, flux, level gauge, other) (--100%)
Clients: [Mfrs, wholesalers] Mitsui Chemical, Kaneka Corp, Dainichiseika Color & Mfg Co, Nichirei Foods, Suntory Foods, Panasonic Corp, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Hewlett Packard Japan, Joshin Denki Co, Webcatch, other
Payment record: Slow but Correct
Location: Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Keihan-Kyobashi)
SMBC
(Tenroku)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
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Annual
Sales |
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410 |
394 |
386 |
410 |
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Recur.
Profit |
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6 |
5 |
6 |
.. |
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Net
Profit |
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5 |
4 |
4 |
6 |
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Total
Assets |
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782 |
351 |
N/A |
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Net
Worth |
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90 |
76 |
72 |
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Capital,
Paid-Up |
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60 |
60 |
60 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.06 |
2.07 |
-5.85 |
17.14 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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11.51 |
21.65 |
.. |
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N.Profit/Sales |
1.22 |
1.02 |
1.04 |
1.46 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/08/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
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UK Pound |
1 |
Rs.84.19 |
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Euro |
1 |
Rs.71.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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NB |
New Business |
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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.