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Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
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Name : |
AIRBUS JAPAN KK |
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Registered Office : |
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Country : |
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Date of Incorporation : |
May 2001 |
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Com. Reg. No.: |
0104-01-059475 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, supply of airplanes |
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No. of Employees |
Not Available |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
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. Prime Minister Shinzo ABE
has declared the economy his government's top priority; he has overturned his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus, monetary easing, and
structural reform. Japan joined the Trans Pacific Partnership negotiations in
2013, a pact that would open Japan's economy to increased foreign competition
and create new export opportunities for Japanese businesses. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2013 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 is
exceeding 230% of GDP. To help raise government revenue and reduce public debt,
Japan decided in 2013 to gradually increase the consumption tax to a total of
10% by the year 2015. Japan is making progress on ending deflation due to a
weaker yen and higher energy costs, but reliance on exports to drive growth and
an aging, shrinking population pose other major long-term challenges for the
economy.
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Source
: CIA |
AIRBUS JAPAN KK
REGD NAME: Airbus Japan KK
MAIN OFFICE: Roppongi Hills Mori Tower 19f, 6-10-1 Roppongi
Minatoku Tokyo 106-6119 JAPAN
Tel:
03-5775-3300
URL: http://www.airbusjapan.com
E-Mail address: (thru the URL)
Import, supply of airplanes
Nil
France (of the parent)
STEPHANE GINOUX, PRES
Date Registered: May 2001
Regd No.: 0104-01-059475 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,980 shares
Issued:
1,980 shares
Sum: Yen 99 million
Major shareholders
(%): Airbus SAS (France) (100)
Nothing detrimental is known as to the commercial morality of
executives.
The subject company was established by
Airbus SAS, France, as its marketing office in Japan. In 2013, Japan Airlines signed a purchase
agreement for 31 A350 XWB aircraft, the historic first direct Airbus order for
the nation’s flag carrier. Airbus’
single-aisle product line has become a cornerstone for the nation’s emerging
low-cost carriers. Highlighting this
popularity, the 100th Airbus aircraft for a Japanese carrier was
delivered during March 2013, marked by handover of an A320 for low-cost
operator Jetstar Japan. Companies such
as Bridgestone, Panasonic, Yokogawa Electric and Minebea contribute to all of
Airbus’ production aircraft, while Toray and Toho Tenax signed a long-term
agreement in 2010 to supply carbon fibre for the company’s aircraft in total,
Japanese partnerships with Airbus range from 17 companies for the double-deck
A360, to 12 each for the A320 and A330 Families, as well as four for the
next-generation A350 XWB widebody.
(Recent
booking news):
ANA Holdings booked 30 planes of A320 neo
Families;
Hawaiian Airlines contracted 6 planes of
A330-800nes;
Trans Aero Airlines booked 20 planes of
A330;
Other
Payment
record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank
References:
Mizuho Bank (Kamiyacho)
Relations: Satisfactory
(In Million Yen)
Consolidated by the
parent, Airbus SAS (France) and individually released.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.77 |
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UK Pound |
1 |
Rs.100.72 |
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Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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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 |
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-- |
NB |
New Business |
-- |
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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.