|
Report Date : |
30.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
GASTEC
CORPORATION |
|
|
|
|
Registered Office : |
8-8-6 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 (Estimated) |
|
|
|
|
Date of Incorporation : |
01.09.1970 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Importer and wholesaler of Oxygen Gas Detectors, Carbon Monoxide Gas Detectors, Hydrogen Sulfide Gas Detectors, Combustible Gas Detectors, Dual & Four Gas Detectors, Gas Generation Systems & Gas Sensors |
|
|
|
|
No of Employees : |
124 |
RATING & COMMENTS
|
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 66.0 Million |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
GASTEC CORPORATION
KK Gastec
8-8-6 Fukaya-Naka
Ayase City Kanagawa-Pref 252-1107 JAPAN
Tel:
046-779-3900 Fax: 046-79-3979
E-Mail address: info@gastec.co.jp
Importer and wholesaler of Oxygen Gas Detectors, Carbon Monoxide Gas Detectors, Hydrogen Sulfide Gas Detectors, Combustible Gas Detectors, Dual & Four Gas Detectors, Gas Generation Systems & Gas Sensors
Osaka Office
2-14-8
Shin-Osaka GB 7F, Miyahara, Yodogawa-ku, Osaka, 532-0003, Japan
Kyushu Office
9-27
Kinkei-cho, Kokura-kita-ku, Kitakyushu, 803-0843, Japan
Other Branch Office Located At
· Fukuoka
At the caption address
HIROSHI
OGUCHI, PRES Masahiko Wakayama,
dir
Hiroshi
Hirota, dir Kazuyuki
Yagishita, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,305 M
PAYMENTS No
Complaints CAPITAL Yen
72 M
TREND SLOW WORTH Yen 1,079 M
STARTED 1970 EMPLOYES 124
MFR OF GAS DETECTORS, GAS SENSORS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 66.0 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Kiyoshi Matsuno in order to make most of his experience in the subject line of business. Hiroshi Oguchi took the pres office in July 2010. This is a trading firm specializing in import and wholesale of gas detectors, oxygen gas detectors, other (See OPERATION). In Sept 1973, detector tubes certification test started under the cooperation of NIOSH, USA. Has sales offices in Osaka & Fukuoka. Clients are in such fields as sick house fields, air pollution environment, soil & water environment, indoor environment, sewage environment other.
The sales volume for Mar/2013 fiscal term amounted to Yen
2,305 million, a shade down from Yen 2,312 million in the previous term. The net profit was posted at Yen 110 million,
compared with Yen 155 million recurring profit and Yen 142 million net profit,
respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was
projected at Yen 160 million and the net profit at Yen 150 million,
respectively, on a 6% rise in turnover, to Yen 2,450 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 66.0 million, on 30 days normal terms.
Date Registered: 01 Sept 1970
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized : 480,000 shares
Issued:
175,200 shares
Sum: Yen 72.6
million
Major shareholders (%): Kyoichi Shono (17), Hiroshi
Oguchi (11), Masahiko Nakayama (6), Hiroshi Hirota (6)
No. of shareholders: 17
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales oxygen gas detectors, carbon monoxide gas detectors, hydrogen sulfide gas detectors, combustible gas detectors, dual & four gas detectors, gas generation systems, gas sensors, others (--100%).
Clients: [Mfrs, wholesalers] Uchida Yoko Co, Midori Anzen Co, Nippon Kanryu Industry
Co, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Ogi Mfg Co, Asahi Glass, other.
Payment record: No Complaints
Location: Business area in Ayase City, Kanagawa-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Bank
of Yokohama (Fujisawa-Chuo)
MUFJ
(Yamato)
Relations:
Satisfactory
(In Million Yen)
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
||
|
Annual
Sales |
|
2,450 |
2,305 |
2,312 |
2,289 |
|
Recur.
Profit |
|
160 |
|
155 |
138 |
|
Net
Profit |
|
150 |
110 |
142 |
97 |
|
Total
Assets |
|
|
2,337 |
2,315 |
2,261 |
|
Current
Assets |
|
|
1,513 |
1,579 |
1,658 |
|
Current
Liabs |
|
|
397 |
604 |
720 |
|
Net
Worth |
|
|
1,079 |
977 |
842 |
|
Capital,
Paid-Up |
|
|
72 |
72 |
72 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.29 |
-0.30 |
1.00 |
4.81 |
|
|
Current Ratio |
|
.. |
381.11 |
261.42 |
230.28 |
|
N.Worth Ratio |
.. |
46.17 |
42.20 |
37.24 |
|
|
R.Profit/Sales |
|
6.53 |
.. |
6.70 |
6.03 |
|
N.Profit/Sales |
6.12 |
4.77 |
6.14 |
4.24 |
|
|
Return On Equity |
.. |
10.19 |
14.53 |
11.52 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.