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Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
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Name : |
TESS ENGINEERING CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
May 1979 |
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Com. Reg. No.: |
1200-01-056993 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is engaged in Engineering of energy-saving systems: solar power system, biomass power system, fuel conversion system, gas cogeneration system |
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No. of Employees : |
142 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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. 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 |
TESS ENGINEERING CO LTD
REGD NAME: Tess
Engineering KK
MAIN OFFICE: Shin-Osaka
Prime Tower 17F, 6-1-1 Nishi-Nakajima Yodogawaku Osaka
531-0011
Tel:
06-6308-2073
Fax: 06-6308-0948
URL: http://www.tess-eng.co.jp
E-Mail address: (thru the URL)
Engineering of
energy-saving systems
Osaka Governor
#75638 (construction works/machinery installation works),
#23366 (architectural firm)
Tokyo, Nagoya,
Hiroshima, Fukuoka, Sendai, Sapporo
(subcontracted to
subsidiary firm)
HIDEO IISHIWAKI,
PRES
Kazuki Yamamoto,
dir
Katsushige Fujii,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 22,586 M
PAYMENTSNo
COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 4,173 M
STARTED 1979 EMPLOYES 142
ENGINEERING COMPANY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Hideo Ishiwaki in order to make most
of his experience in the subject line of business. This is an engineering company specializing
in energy-saving systems: cogeneration systems, biomass power systems, solar
shells, solar power systems, other (See OPERATION). Products are exported thru general trading
houses. Clients include major general
trading houses for import/export businesses.
The sales volume for Jun/2013 fiscal term amounted to Yen 22,586
million, a 52% up from Yen 14,816 million in the previous term. Solar power systems & solar shells were
in much demand and sales expanded. The
recurring profit was posted at Yen 950 million and the net profit at Yen 809
million, respectively, compared with Yen 182 million recurring profit and Yen
188 million net profit, respectively, a year ago.
For the current term ending Jun 2014 the recurring profit is projected
at Yen 1,000 million and the net profit at Yen 850 million, respectively, on a
5% rise in turnover, to Yen 23,700 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May 1979
Regd No.:
1200-01-056993 (Osaka-Yodogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major shareholders (%): Tess Techno
Service Co (67), Employees’ S/Holding Assn (21), Hideo Ishiwaki (3), Hiroshi
Murakami (2)
No. of shareholders: 8
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Engineering of
energy-saving systems: solar power system, biomass power system, fuel
conversion system, gas cogeneration system (diesel, gas, gas turbine, boiler turbine),
carbon management, waste water treatment system, RPF boiler, anti-air pollution
system, air-conditioning systems, uninterruptible power supply (UPS), micro gas
turbine, 24-hour watch systems, other (--100%)
Clients: [Mfrs,
wholesalers] Creative Techno Solution, Orix Corp, Sumitomo Corp, Mitsui &
Co, Toyota Tsusho Corp, Sojitz Corp, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Heavy Ind, Yanmar Co, Daihatsu Diesel, Takuma Co,
Niigata Power Systems Co, Kyocera Corp, other
Payment record: No complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References: MUFG (Juso)
Resona Bank
(Shin-Osaka-Ekimae)
Relations:
Satisfactory
(In Million
Yen)
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Terms Ending: |
30/06/2014 |
30/06/2013 |
30/06/2012 |
30/06/2011 |
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Annual
Sales |
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23,700 |
22,586 |
14,816 |
12,147 |
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Recur.
Profit |
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1,000 |
950 |
182 |
117 |
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Net Profit |
|
850 |
809 |
188 |
124 |
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Total
Assets |
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|
14,704 |
6,931 |
7,512 |
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Current
Assets |
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12,682 |
5,586 |
6,552 |
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Current
Liabs |
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9,616 |
2,768 |
3,588 |
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Net
Worth |
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4,173 |
3,363 |
3,174 |
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Capital,
Paid-Up |
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|
100 |
100 |
100 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.93 |
52.44 |
21.97 |
29.78 |
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Current Ratio |
|
.. |
131.88 |
201.81 |
182.61 |
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N.Worth Ratio |
.. |
28.38 |
48.52 |
42.25 |
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R.Profit/Sales |
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4.22 |
4.21 |
1.23 |
0.96 |
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N.Profit/Sales |
3.59 |
3.58 |
1.27 |
1.02 |
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Return On Equity |
.. |
19.39 |
5.59 |
3.91 |
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Notes: Forecast (or
estimated) figures for the 30/06/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
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|
1 |
Rs.101.99 |
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Euro |
1 |
Rs.84.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
-- |
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.