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Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
THE PILOT & CO LTD |
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|
|
|
Registered Office : |
Denso Bldg 4F,
5-5-3 Haneda Ohtaku Tokyo 144-0043 |
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|
|
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Country : |
Japan |
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|
|
|
Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May 1976 |
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|
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Com. Reg. No.: |
0108-01-009631 (Tokyo-Ohtaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of aircraft parts & components |
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|
|
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No. of Employees : |
36 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
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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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
THE PILOT & CO LTD
Pilot KK
Haneda Main
Central Bldg 4F, 5-5-3 Haneda Ohtaku Tokyo 144-0043 JAPAN
Tel:
03-3744-9333
Fax: 03-5708-7433
URL: http://www.pilot-avi.co.jp/
E-Mail address: info@pilot-avi.co.jp
Import,
wholesale of aircraft parts & components
Haneda
Airport
TAKASHI
UCHINOMURA, PRES
Tsunenori
Sakai, ch Kazuya
Muroi, v pres
Noboru
Usui, v pres Daisuke
Iwata, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,894 M
PAYMENTS No Complaints
CAPITAL Yen 48 M
TREND SLOW WORTH Yen 98 M
STARTED 1976 EMPLOYES 36
IMPORTER & WHOLESALER SPECIALIZING IN AIRCRAFT PARTS &
COMPONENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Tsunenori Sakai, now ch,
originally in 1970, on his account, and has been succeeded by the present
executives. This is a trading firm
specializing in importing and wholesaling aircraft parts, equipment &
components. Goods are imported mainly
from USA . Clients include Ministry of
Defense, heavy machinery industries, other.
The sales volume for Mar/2012 fiscal term amounted to Yen 1,894 million,
a 7% down from Yen 2,032 million in the previous term. The recurring profit was posted at Yen 4
million and the net profit at Yen 4 million, respectively, similarly in the
previous term. .
For the term that ended Mar 2013 the recurring profit was projected at
Yen 5 million and the net profit at Yen 5 million, respectively, on a 6% rise
in turnover, to Yen 2,000 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May 1976
Regd No.: 0108-01-009631 (Tokyo-Ohtaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 384,000 shares
Issued: 76,000 shares
Sum: Yen 48 million
Major shareholders (%): Daisuke Iwata (28), Takashi
Uchinomura (27), Kazuya Muroi (27), Noboru Usui (10), AEOLUS (3)
No. of shareholders: 12
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales
aircraft parts, components, military-use aircraft parts & components,
others (--100%).
Clients: [Airlines,
ministry] All Nippon Airways, ANA Business Create, All Nippon Airways Trading,
Jamco Corp, Tokyo Aircraft Instruments, Sky Net Asia Airlines, Fuji Heavy Ind,
NEC Corp, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Moog Salt Lake Operations, Kitco Defense, Bombardier Aerospace,
Flightcraft International Ltd, United Instruments Inc Los Angeles Branch,
Hexadyne Corporation, FTI Inc, ANA Trading Corp USA, Cannon Marketing Japan,
other.
Payment record: No
Complaints
Location: Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank
References:
SMBC (Kamata)
MUFG (Kamata)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
2,000 |
1,894 |
2,032 |
2,267 |
|
Recur.
Profit |
|
5 |
4 |
4 |
|
|
Net
Profit |
|
5 |
4 |
4 |
-20 |
|
Total
Assets |
|
|
1,132 |
1,031 |
1,120 |
|
Current
Assets |
|
|
995 |
891 |
974 |
|
Current
Liabs |
|
|
879 |
737 |
854 |
|
Net
Worth |
|
|
98 |
94 |
91 |
|
Capital,
Paid-Up |
|
|
48 |
48 |
48 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.60 |
-6.79 |
-10.37 |
-16.13 |
|
|
Current Ratio |
|
.. |
113.20 |
120.90 |
114.05 |
|
N.Worth Ratio |
.. |
8.66 |
9.12 |
8.13 |
|
|
R.Profit/Sales |
|
0.25 |
0.21 |
0.20 |
.. |
|
N.Profit/Sales |
0.25 |
0.21 |
0.20 |
-0.88 |
|
|
Return On Equity |
.. |
4.08 |
4.26 |
-21.98 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.71.02 |
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.