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Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
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Name : |
MARUISHI CO., LTD. |
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Registered Office : |
267-1, Matsuoka, Fuji-shi, Shizuoka pref. 416-0909 |
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Country : |
Japan |
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Date of Incorporation : |
01.04.1961 |
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Com. Reg. No.: |
0801-01-009735 |
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Legal Form : |
Private |
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Line of Business : |
Manufacturer of Machinery. |
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No of Employees : |
80 |
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 : |
Unknown |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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.
|
Source
: CIA |
MARUISHI CO., LTD.
========
Country: Japan
Company name: MARUISHI CO., LTD.
Name in local language: MARUISHI
SEISAKUSHO, K.K.
Office address: 267-1, Matsuoka, Fuji-shi,
Shizuoka pref. 416-0909
Office tel: 0545-61-1200
Office fax: 0545-63-2648
Website: www.maruishi.com.
Business type: Manufacturer
Industry: Machinery
Established: April 1, 1961
Capital: Jp.
20,000,000 yen
Employees: 80
Corporate formation: Private
Corporation No.: 0801-01-009735
(Shizuoka Legal Affairs Bureau)
=====================
Paid in capital : Jp.
20,000,000 yen
Number of authorized shares : 40,000
shares
Shares issued : 40,000
shares
Number of shareholder : n.
a.
Most likely Mr. Makoto Ishikawa, President, holds majority. (estimated)
===========================================
Activity Product/Service
Description
-------------------------------------------------------------------------------
Manufacturing Machines for pulp- & paper-manufacturing
Service System
engineering
==================
President Mr. Makoto Ishikawa
Nationality: Japan
Director Mr. Hirofumi Uchiyama
Nationality: Japan
Director Mr. Masayuki Sakakibara
Nationality: Japan
Director Mr. Seijiro Oshikata
Nationality: Japan
Director
Mr. Yasuhiko Shirogane
Nationality: Japan
Auditor Mr. Masamitsu Kodama
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Makoto Ishikawa
President and representative director
A son of the founder
Home address: 266-8, Matsuoka, Fuji-shi, Shizuoka pref. 416-0909
=====================
*Book Closing*
============
n. a.
*Financials*
==========
As a private limited company, no official financial statement is
required to be disclosed publicly.
*Bank Details*
============
Bank Name : Shimizu Bank, Ltd.
Branch : Fuji
Bank Name : Shizuoka Bank, Ltd.
Branch : Fuji
*Credit Opinion*
=============
The subject is a long-standing manufacturer of paper-making machines and
related equipment together with engineering services.
The president
introduces his company as follows:
Quote:
Meet future challenges as a global leader to supply high-tech machines
with a vision for environment improvement
We aim to be a company that fully grasps and responds to the changing
needs of the times.
To meet this goal, we have not only developed our own products, but have
formed technology tie-ups with the world’s leading paper machine manufacturers,
allowing us to continually strengthen our product lineup.
For the last 70 years we have been supplying the machinery required to
cover every stage of the
papermaking process. Starting
with our wood chipper, we have gone on to develop and supply equipment for raw material
processing, papermaking and finishing. The Maruishi spirit is alive and well as
we work to building the machines of the future.
Through establishing our own comprehensive lineup of machinery and by
manufacturing products on a made-to-order basis, we have accumulated extensive
expertise. Our partners have been a crucial aspect of this development, and as
we celebrate our 70th anniversary, we would like to take the opportunity to
express our sincerest appreciation to all of them once again.
In this town at the foot of Mt. Fuij, a World Cultural Heritage Site,
Maruishi was born and raised.
As a global engineering company, we will continue striving to build ever
better machinery and develop equipment
with advanced technology which is friendly to both people and the environment.
President Makoto Ishikawa
Unquote:
Although the exact financial condition is not available due to strict
control of financial information, there would be a certain amount of retained
earnings.
The amount of the capital paid in looks rather small for its unit price
of the machine manufactured by the subject.
The number of employees is estimated with some pictures shown in its
website.
Judging from the length of business history and business partners
worldwide, it would be advisable to establish a fairly good credit rating with
the subject.
Negative factors are not observed in particular at present.
===========================
No local offices.
Two overseas offices in Mechernich-Kallmuth, Germany and Gurgaon, India
========================================
*Main Products & Services*
======================
Development, manufacture, sales, installation and engineering work of
the following machines:
-
Processing
machines of used paper
-
Machines
used in the process of pulp-making
-
Paper-making
machines
-
Finishing
machines
===============================================
At the location of the head office
======================
*Address*
=========
Registered address is the same as the operational address.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
1943 Started business under the name of
“Ishikawa Tekko(Iron Works” as a
subcontractor for
Fuji Plant of Honshu Pulp & Paper Co., Ltd. (now Oji
Paper Co., Ltd.)
April 1,
1961 Incorporated
under the current company name.
At the beginning the company name was
described as “Maruishi Iron Works
Co., Ltd.” in
English, but now “Maruishi Co., Ltd.” is officially used though it is
not clear when
such changed was made.
1970 Concluded the first licensing agreement
with Andritz AG, a major machine
maker in Austria.
The start of technology network worldwide.
2003 Opened an office in Shanghai.
2012 Founded a subsidiary in Shanghai.
Opened an office in New Delhi, India.
2013 Founded a subsidiary in Switzerland.
================
*Suppliers*
==========
Local material suppliers (names not disclosed)
Technology Alliances;
Andritz AG
Bielomatik Jagenberg Gmbh+Co.KG.
Bielomatik Leuze Gmbh+Co.KG.
Core Link AG
Core Link AB
Luraflex GmbH
Function Control Research BV
Cyklop AB
Schneider Engineering AG
Trancel Systems AB
Imported items;
QuickSkan Gauges, Inc.
Oy Klim-Ko Ltd
*Customers*
==========
Sales Network;
Maruishi Shanghai Co.,Ltd.
Maruishi Europe AG
Maruishi German Office
Maruishi Indian Offise
Imai Service e Consultoria Tecnica S/C Ltda.
Sun Cosmo Co.,Ltd.
Newman
Sahmit Machinery PCL
Digitech Corporation
Koyo Eng. & Trading Corp
Zuisei International Co.,Ltd.
=========================================
Company name: Maruishi (Shanghai) Co., Ltd.
Country: China
Status: Subsidiary
----------------------------------------------------------------------------------------------------
Company name: Maruishi Europe AG
Country: Switzerland
Status: Subsidiary
----------------------------------------------------------------------------------------------------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
TPT |
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 |
|
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 |
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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.