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Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
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Name : |
JET CO LTD |
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Registered Office : |
6078 Kanayama Shinjo Satoshocho Asakuchigun Okayama-Pref 719-0302 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
April, 2009 |
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Com. Reg. No.: |
2500-01-018766 (Okayama-Asakichigun) |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of semiconductor equipment, solar cell |
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No. of Employees : |
135 |
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 : |
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
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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 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 |
JET
CO LTD
KK J. E. T.
6078 Kanayama Shinjo Satoshocho Asakuchigun
Okayama-Pref 719-0302 JAPAN
Tel: 0865-69-4080 Fax: 0865-69-4079
E-Mail address: info@globaljet.jp
Mfg of semiconductor equipment, solar cell
Tokyo, Osaka, Oita
USA,Taiwan, China (2)
At the caption address
MASAYUKI HONO, PRES
Hiroyuki Hirai, mgn dir
Takashi Masuda, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,300 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 360 M
TREND SLOW WORTH Yen 926 M
STARTED 2009 EMPLOYES 135
MFR OF SEMICONDUCTOR EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company is a specialized mfr of
semiconductor equipment: semiconductor making equipment, semiconductor cleaning
apparatus, solar cells, other. Has mfg
bases in China and Taiwan. Clients
include electronics mfrs, wholesalers, other.
Goods are also exported.
Financials are only partially disclosed.
The sales volume for Dec/2012 fiscal term
amounted to Yen 2,300 million, a sharp 47% down from Yen 4,300 million in the
previous term. This is referred to the
downsized market of semiconductors and industries, plus the high Yen that
reduced export earnings in yen terms.
Exports were decreased. The
operations plunged into the red to post Yen 230 million net losses for the term,
compared with Yen 73 million net profit a year ago.
For the current term ending Dec 2013 the
operations are projected to come back to profitability to post Yen 50 million
net profit, on a 4% rise in turnover, to Yen 2,400 million. Weaker Yen and new model marketing may raise
sales upward.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements.
Date
Registered: Apr 2009
Regd
No.: 2500-01-018766 (Okayama-Asakichigun)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
28,800 shares
Issued:
7,200 shares
Sum:
Yen 360 million
Major
shareholders (%): Zeus Co Ltd (100)
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Manufactures
semiconductor equipment: semiconductor making equipment, semiconductor cleaning
& drying apparatus, solar cells, others (--100%)
Clients: [Mfrs,
wholesalers] Zeus Co, UMC Group firms, Samsung Electronics, SK Hynix Inc, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Zeus Co, CKD, M-Tech Co, Sefa Technology Inc, Taishin Koki Co,
Nippon Pillar Packing Co, Raito Kogyo Co, Tachibana Electron Co, other
Payment
record: Slow but Correct
Location: Business area in
Okayama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Hiroshima Bank (Kasaoka-Chuo)
MUFG (Okayama)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual
Sales |
|
2,400 |
2,300 |
4,300 |
6,125 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
50 |
-230 |
73 |
328 |
|
Total
Assets |
|
|
N/A |
3,390 |
N/A |
|
Net
Worth |
|
|
926 |
1,156 |
1,105 |
|
Capital,
Paid-Up |
|
|
360 |
360 |
360 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth
Rate |
4.35 |
-46.51 |
-29.80 |
337.50 |
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|
Current
Ratio |
|
|
.. |
.. |
.. |
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N.Worth
Ratio |
|
.. |
34.10 |
.. |
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N.Profit/Sales |
2.08 |
-10.00 |
1.70 |
5.36 |
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Notes: Financials are only partially
disclosed.
Forecast (or estimated) figures for the
31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
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 |
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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 |
|
<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.