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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
OOMIYA LENS CO LTD |
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Registered Office : |
968-4 Hideyasu Kazo Saitama-Pref 347-0102 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
August, 1971 |
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Com. Reg. No.: |
0300-01-032984 (Saitama-Kazo) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Optical Glass Lenses |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
YEN 5.6 Million |
|
Status : |
Satisfactory |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
OOMIYA LENS CO LTD
KK Oomiya Lens
968-4 Hideyasu
Kazo Saitama-Pref 347-0102 JAPAN
Tel:
0480-73-2323
Fax: 0480-73-3023
E-Mail address: ryosuke@oomiya-lens.co.jp
Mfg of
optical glass lenses
Nil
At the
caption address
RYOSUKE
KOIZUMI, PRES
Naoji
Koizumi, dir
Masako
Koizumi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 263 M
PAYMENTSSLOW
BUT CORRECT CAPITAL Yen 16 M
TREND SLOW WORTH Yen 500 M
STARTED 1971 EMPLOYES 30
MFR OF GLASS LENSES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 5.6 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally in 1952 by
Nobukuki Koizumi, on his account, in order to make most o his experience in the
subject line of business. Incorporated
in 1971 the firm has been succeeded by his descendants. Ryosuke Koizumi, grandson, took the pres
office in Apr 2012. This is a
specialized mfr of optical glass lenses, other.
Goods are also exported. Clients
include major electronics makers nationwide.
Financials are only partially disclosed as is the case with
family-based companies.
The
sales volume for May/2012 fiscal term amounted to Yen 263 million, a 32% down from
Yen 386 million in the previous term.
Demand substantially decreased, particularly from machinery makers, the
firm says. The operations plunged into
the red to post Yen 35 million net losses for the term, compared with Yen 17
million net profit a year ago.
For
the term that ended May 2013 the net profit was projected at Yen 20 million, on
a 3% rise in turnover, to Yen 270 million.
Final results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 5.6
million, on 30 days normal terms.
Date Registered:
Aug 1971
Regd No.: 0300-01-032984
(Saitama-Kazo)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 128,000
shares
Issued: 32,000
shares
Sum: Yen
16 million
Major shareholders (%): Nobuyuki Koizumi (63.4), Naoji
Koizumi (29.3), Ryosuke Koizumi (1.5), Masako Koizumi (0.8)
No. of shareholders: 7
Nothing detrimental is known as to
the commercial morality of executives.
Activities: Manufactures
optical glass lenses, others (--100%)
Clients: [Mfrs, wholesalers] Universe Optical
Ind Co, Nikon Corp, Sumita Optical Glass Inc, Ohara Inc, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ohara Inc, Sumita Optical Glass Inc, Hoya Corp, Hikari Glass Co,
other
Payment record: Slow
but correct
Location: Business area in Kazo City,
Saitama-Pref. Office premises at the
caption address are owned and
maintained satisfactorily.
Bank References:
Saitama Resona Bank
(Kazo)
Mizuho Bank (Omiya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
|
Annual
Sales |
|
270 |
263 |
386 |
287 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
20 |
-35 |
17 |
-15 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
500 |
535 |
518 |
|
Capital,
Paid-Up |
|
|
16 |
16 |
16 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.66 |
-31.87 |
34.49 |
-22.22 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
7.41 |
-13.31 |
4.40 |
-5.23 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.