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Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
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Name : |
MIKUNI KIKAI KOGYO CO LTD |
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Registered Office : |
3-19-11 Ryogoku Sumidaku Tokyo 130-0026 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2012 |
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Date of Incorporation : |
June, 1950 |
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Com. Reg. No.: |
0106-01-026536 (Tokyo-Sumidaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of hydraulic equipment, compressors, pumps,
other |
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No. of Employees : |
68 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 |
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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 |
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.
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Source
: CIA |
MIKUNI KIKAI KOGYO
CO LTD
Mikuni Kikai Kogyo KK
3-19-11 Ryogoku Sumidaku Tokyo 130-0026 JAPAN
Tel: 03-5624-8392 Fax:
03-5624-6393
URL: http://www.mikunikikai.jp
E-Mail address: (thru the URL)
Import, export, wholesale of hydraulic equipment, compressors, pumps,
other
Hitachi, Osaka
Russia, Malaysia
TADANORI SHIMIZU, PRES Shuichiro
Shimizu, ch
Yoko Shimizu, s/mgn dir Mitsuru
Tamaoka, mgn dir
Katsuhiro Kahyo, mgn dir Kazuo
Suzuki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 3,837 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
88 M
TREND UP WORTH Yen 438 M
STARTED 1950 EMPLOYES 68
TRADING FIRM SPECIALIZING IN HYDRAULIC EQUIPMENT, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Iwakichi Shimizu 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 hydraulic equipment, compressors, valve cock, other (See
OPERATION). Has sales agents I Russia
and Malaysia. Clients include major
heavy machinery makers.
The sales volume for Nov/2012 fiscal term amounted to Yen 3,837 million,
a 10% up from Yen 3,504 million in the previous term. Exports/imports increased. The recurring profit was posted at Yen 24
million and the net loss at Yen 56 million, respectively, compared with Yen 27
million recurring profit and Yen 3 million net profit, respectively, a year
ago. Losses come from extraordinary
losses from staff changes (from old to new) and material costs.
For the current term ending Nov 2013 the recurring profit is projected
at Yen 25 million and the net profit at Yen 25 million, respectively, on a 5%
rise in turnover, to Yen 4,030 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 51.1 million, on 30 days normal terms.
Date
Registered: Jun 1950
Regd
No.: 0106-01-026536 (Tokyo-Sumidaku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 700,000
shares
Issued:
176,000 shares
Sum:
Yen 88 million
Major
shareholders (%): Shuichiro Shimizu (37), Tadanori Shimizu (14), Mec Co (12), Hidesato
Shimizu (7), Yoko Shimizu (7)
No.
of shareholders: 23
Nothing detrimental is known as to the commercial
morality of executives.
Activities: Imports, exports
and wholesales hydraulic equipment, compressors, valve cock, vacuum pumps,
pumps, valves, oil/air hydraulic tools (jacks, pumps, pressure vessel, heat
exchangers), other (--100%)
Clients: [Mfrs,
wholesalers] Hitachi Power Solutions, Hitachi Ltd, Nippon Air Liquid, Furukawa
Rock Drill Co, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mikuni Engineering, Kobelco Compressor, Kawasaki Heavy Ind, Yuken
Kogyo Co, Hirose Valve Ind, other
Payment
record: Slow but Correct
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Mizuho Bank (Kanda-Ekimae)
MUFG (Kanda-Ekimae)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
30/11/2013 |
30/11/2012 |
30/11/2011 |
30/11/2010 |
|
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Annual Sales |
|
4,030 |
3,837 |
3,504 |
2,880 |
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Recur. Profit |
|
25 |
24 |
27 |
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Net Profit |
|
25 |
-56 |
3 |
-8 |
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Total Assets |
|
|
2,368 |
2,750 |
1,894 |
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Current Assets |
|
|
1,744 |
2,089 |
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Current Liabs |
|
|
1,783 |
2,013 |
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Net Worth |
|
|
438 |
494 |
491 |
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Capital, Paid-Up |
|
|
88 |
88 |
88 |
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Div.Ttl in Million (¥) |
|
|
0.00 |
0.00 |
4.4 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.03 |
9.50 |
21.67 |
-21.70 |
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Current Ratio |
|
.. |
97.81 |
103.78 |
.. |
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N.Worth Ratio |
.. |
18.50 |
17.96 |
25.92 |
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R.Profit/Sales |
|
0.62 |
0.63 |
0.77 |
.. |
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N.Profit/Sales |
0.62 |
-1.46 |
0.09 |
-0.28 |
|
|
Return On Equity |
.. |
-12.79 |
0.61 |
-1.63 |
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Notes: Forecast (or estimated) figures for the 30/11/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
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.