REVISED REPORT
|
Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASK TECHNICA CORPORATION |
|
|
|
|
Registered Office : |
1488 Ichikawadaimon Ichikawa-Misato Nishi-Yatsushirogun Yamanashi-Pref 409-3601 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
May 1991 |
|
|
|
|
Com. Reg. No.: |
0900-01-011894 (Yamanashi-Nishi-Yatsushiro) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturing of brake linings, clutch facing, sealing materials for automobiles |
|
|
|
|
No. of Employees : |
132 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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
ASK TECHNICA
CORPORATION
REGD NAME: KK Ask Technica
MAIN OFFICE: 1488 Ichikawadaimon Ichikawa-Misato Nishi-Yatsushirogun Yamanashi-Pref 409-3601 JAPAN
Tel: 055-272-1151 Fax: 055-272-3796
*.. The is its Second Plant at: 610 Takata Ichikawa-Misato
Nishi-Yatsushirogun Yamanashi-Pref 409-3606
URL: http://www.asktechnica.co.jp
E-Mail address: info@asktechnica.co.jp
Mfg of brake linings, clutch facing, sealing materials for automobiles
Tokyo, Hamamatsu, Osaka, Ichikawa
At the caption address (First Plant), Takata (Second Plant), as given
HIROSHI TACHIKAWA, PRES Teiichi Mikami, mgn dir
Masaki Kobayashi, dir Toru Kanai, dir
Yoshiaki Katada, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 4,307 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 400 M
TREND SLOW WORTH Yen 657 M
STARTED 1991 EMPLOYES 132
MFR SPECIALIZING IN BRAKE LININGS, SEALING MATERIALS, OTHER FOR AUTOMOBILES, WHOLLY OWNED BY A&A MATERIAL CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of Yamanashi Plant separated from A&A Material Corp, producer of slates & ceramic building materials, Yokohama (see REGISTRATION) to focus on production of automobile-related parts & components. Mfg items are: sealing materials, brake linings, clutch facing, etc, for automobiles & motorbikes, & for mfg machines. Products are exported. The parent’s plants in Singapore and Indonesia are fully utilized. Clients include major automakers nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 4,307 million, an inch up from Yen 4,290 million in the previous term. The net profit was posted at Yen 6 million, compared with Yen 49 million a year ago.
For the current term ending Mar 2014 the net profit is projected at Yen 10 million, on a 5% rise in turnover, to Yen 4,500 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May 1991
Regd No.: 0900-01-011894 (Yamanashi-Nishi-Yatsushiro)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 32,000 shares
Issued: 8,000 shares
Sum: Yen 400 million
Major shareholders (%): A&A Material Corp* (100)
*.. Mfr of slates & ceramic building materials, Yokohama, founded 1924, listed Tokyo S/E, capital Yen 3,889 million, turnover Yen 35,969 million, operating profit Yen 632 million, recurring profit Yen 188 million, net loss Yen 581 million, total assets
Yen 43,853 million, net worth Yen 6,985 million, employees 955, pres Yuji Nakamura.
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures automobile-related parts & components (--100%).
(Mfg items):
Sealing Materials: joint sheets, semi-metallic gasket sheets, beater sheets, mill boards;
Brake Linings: brake linings for automobiles, linings for electromagnetic brakes, brake linings for mfg machines;
Clutch Facing: clutch facings for automobiles, clutch facings for mfg machines.
Clients: [Automakers, machinery mfrs] Honda Motor, Suzuki Motor, Toyota Motor,
Yamaha Motor, Nippon Sharyo Mfg, Japan Brake Ind, Ishikawa Gasket Co, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Itochu Corp, Unitika Glass Fiber Co, Marubeni Corp,
Mitsui & Co, Sanyo Trading Co, Kai Engineering, other.
Products are exported to China, S/E Asia, other
Payment record: Slow but correct
Location: Business area in Yamanashi-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References: Yamanashi Chuo Bank (Ichikawa)
Mizuho Corporate Bank (Ohtemachi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
4,500 |
4,307 |
4,290 |
4,600 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
10 |
6 |
49 |
271 |
|
Total Assets |
|
|
4,838 |
4,829 |
4,703 |
|
Current
Assets |
|
|
2,823 |
2,938 |
2,847 |
|
Current
Liabs |
|
|
2,278 |
2,214 |
2,151 |
|
Net
Worth |
|
|
657 |
648 |
601 |
|
Capital,
Paid-Up |
|
|
400 |
400 |
400 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.48 |
0.40 |
-6.74 |
40.54 |
|
|
Current Ratio |
.. |
123.92 |
132.70 |
132.36 |
|
|
N.Worth Ratio |
.. |
13.58 |
13.42 |
12.78 |
|
|
R.Profit/Sales |
.. |
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.22 |
0.14 |
1.14 |
5.89 |
|
|
Return On Equity |
.. |
0.91 |
7.56 |
45.09 |
|
Notes: Forecast (or estimated) for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.63 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.84.56 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.