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Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
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Name : |
MITANI VALVE CO LTD |
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Registered Office : |
4-12-2 Nihombashi-Honcho Chuoku Tokyo 103-0023 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
Apr 1956 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures aerosol valves, spray pumps, dispensers,
shampoo bottles (plastic), valves/cocks & accessories. |
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No. of Employees : |
223 |
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 : |
No Complaints |
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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 |
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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 |
MITANI VALVE CO
LTD
KK Mitani Valve
4-12-2
Nihombashi-Honcho Chuoku Tokyo 103-0023 JAPAN
Tel:
03-6861-2740 Fax: 03-6861-2743
E-Mail
address: info@mtv-g.co.jp
Mfg of
aerosol valves, spray pumps, dispenser
Osaka
(2)
Thailand
(2), Germany, China (2)
Ibaraki
TAKAO
MIZUGUCHI, PRES Seiichi Shimizu, mgn
dir
Takashi
Nagasaka, dir Takanari
Nakamura, dir
Mamoru
Nanao, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 13,600 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 4,720 M
STARTED 1936 EMPLOYES 223
MFR OF AEROSOL VALVES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company is one of top mfrs of aerosol valves, spray pumps, dispensers, valves
& cocks accessories. Goods are
exported. Clients include cosmetic
makers, chemical firms, other.
Financials are only partially disclosed.
The sales volume for Feb/2013 fiscal term amounted to Yen
13,600 million, a 0.7% down from Yen 13,700 million in the previous term. The net profit was posted at Yen 100 million,
similarly in the previous term.
For the current term ending Feb 2014 the net profit is
projected at Yen 150 million, on a 7% rise in turnover, to Yen 14,500 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Apr 1956
Legal Status:
Limited Company (Kabushiki
Kaisha)
Authorized: 800,000 shares
Issued:
200,000 shares
Sum: Yen
100 million
Major shareholders (%): Sun
Parts (18.4), Ryuichi Mizuguchi (17.8), Mitsui & Co (11.7), Yoshio Kadota
(9.5)
No. of shareholders: 40
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures aerosol valves, spray
pumps, dispensers, shampoo bottles (plastic), valves/cocks & accessories
(--100%)
Clients: [Mfrs, wholesalers] Mitsui & Co,
Johnson & Johnson, Daizo Corp, Air Water Sol Inc, Toyo Aerosol Ind, Koike
Chemical, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsui & Co,
Metal One, Takahashi Spring, Sun Parts, Kobayashi Engineering Works, other
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Asakusabashi)
SMBC
(Kanda)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
|
Annual
Sales |
|
14,500 |
13,600 |
13,700 |
13,500 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
150 |
100 |
100 |
50 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
4,720 |
4,620 |
4,520 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.62 |
-0.73 |
1.48 |
-15.09 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.03 |
0.74 |
0.73 |
0.37 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
UK Pound |
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
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.