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Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
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Name : |
ENSERVE CO LTD |
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Registered Office : |
Yurakucho Bldg 208, 1-10-1 Yurakucho Chiyodaku Tokyo 100-0006 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2013 |
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Date of Incorporation : |
September, 2010 |
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Com. Reg. No.: |
0100-01-135030 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of oil & natural gas drilling equipment |
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No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
ENSERVE CO LTD
REGD NAME: Enserve KK
MAIN OFFICE: Yurakucho Bldg 208, 1-10-1 Yurakucho Chiyodaku
Tokyo 100-0006 JAPAN
Tel: 03-6269-9036
Fax:
03-6269-9880
URL: N/A
Import, wholesale of oil & natural gas drilling equipment
Nil
KEITA MATSUNOKI, PRES
In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 284 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 20 M
TREND UP WORTH Yen
31 M
STARTED 2010 EMPLOYES 2
TRADING FIRM SPECIALIZING IN OIL/NATURAL GAS DRILLING/MINING
EQUIPMENT.
FINANCIAL SITUATION CONSDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUISNESS ENGAGEMENTS.
The subject company was established by Keita Matsunoki in order to make
most of his experience in the subject line of business. This is a trading firm for import, export and
wholesale of oil & natural gas drilling equipment & facilities, mining
equipment, other. Goods are exported to
Middle East.
The sales volume for Aug/2013 fiscal term amounted to Yen 284 million, a
12% up from Yen 253 million in the previous term. Business has grown and exports increased
particularly for LNG facilities & equipment. The recurring profit was posted at Yen 8
million and the net profit at Yen 6 million, respectively, compared with Yen 4
million recurring profit and Yen 3 million net profit, respectively, a year ago
For the current term ending Aug 2014 the recurring profit is projected
at Yen 15 million and the net profit at Yen 10 million, respectively, on a65%
rise in turnover, to Yen 300 million.
Weaker Yen will assist to raise earnings in Yen terms. Business is seen expanding steadily.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
Date Registered: Sept 2010
Regd No.: 0100-01-135030 (Tokyo-Chiyodaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,600 shares
Issued: 400 shares
Sum: Yen 20 million
Major shareholders
(%):
Keita Matsunoki (100)
Nothing detrimental is known as to his commercial morality.
Activities: A trading firm
for import and export of oil & natural gas drilling facilities &
equipment, mining machinery/equipment, and related products (--100%)
Clients: Exports to
Middle East, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: Mfrs,
wholesalers, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC
(Marunouchi)
Mizuho Bank (Shimbashi)
Relations:
Money deposits & transfers only
|
Terms Ending: |
31/08/2014 |
31/08/2013 |
31/08/2012 |
31/08/2011 |
|
|
Annual Sales |
|
300 |
284 |
253 |
181 |
|
Recur. Profit |
|
15 |
8 |
4 |
2 |
|
Net Profit |
|
10 |
6 |
3 |
1 |
|
Total Assets |
|
|
48 |
50 |
35 |
|
Current Assets |
|
|
56 |
44 |
29 |
|
Current Liabs |
|
|
23 |
25 |
14 |
|
Net Worth |
|
|
31 |
25 |
21 |
|
Capital, Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.63 |
12.25 |
39.78 |
- - - |
|
|
Current Ratio |
.. |
243.48 |
176.00 |
207.14 |
|
|
N.Worth Ratio |
.. |
64.58 |
50.00 |
60.00 |
|
|
R.Profit/Sales |
5.00 |
2.82 |
1.58 |
1.10 |
|
|
N.Profit/Sales |
3.33 |
2.11 |
1.19 |
0.55 |
|
|
Return On Equity |
.. |
19.35 |
12.00 |
4.76 |
|
Notes: The 31/08/2011 is the initial accounting term since inception.
Forecast figures for the 31/08/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.