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Report Date : |
09.06.2014 |
`
IDENTIFICATION DETAILS
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Name : |
EURO TECHNO INC |
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Registered Office : |
Mikawaya Bldg 2F, 5-20-10 Ogikubo
Suginamiku Tokyo 167-0051 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2014 (Estimated) |
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Date of Incorporation : |
June 1994 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and wholesaler of
Machine Tools, Cutting Tools, Machining Center, Edge Master, Carbon Fiber
Plate, Guide Unit, Infinite Focus & Round Fine Centering System |
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No of Employees : |
11 |
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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Maximum Credit Limit : |
Yen 12.8 million |
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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 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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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 |
EURO TECHNO INC
KK Euro Techno
Mikawaya Bldg 2F,
5-20-10 Ogikubo Suginamiku Tokyo 167-0051 JAPAN
Tel:
03-3391-1311 Fax: 03-3391-1310
URL: http://www.eurotechno.co.jp
E-Mail address: (thru the URL)
Importer and wholesaler of Machine Tools, Cutting Tools, Machining Center,
Edge Master, Carbon Fiber Plate, Guide Unit, Infinite Focus & Round Fine
Centering System
Nil
OSAMU
OHARA, PRES
Yuhei
Hauchi, s/mgn dir
Kimiko
Ohara, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 615 M
PAYMENTS Slow
But Correct CAPITAL Yen 10 M
TREND UP WORTH Yen 167 M
STARTED 1994 EMPLOYES 11
TRADING FIRM SPECIALIZING IN MACHINE
TOOLS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: ESTIMATED AT YEN 12.8 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established by Oasamu Ohara in order to make
most of his experience in the subject line of business. This is a trading firm specializing in
machine tools, cutting tools, machining center, other (See OPERATION). Goods are
imported from Switz, Austria, other, as import agent. Clients include electro mfrs, machinery mfrs,
other
The sales volume for May/2013 fiscal term amounted to Yen 615 million,
an 8% up from Yen 569 million in the
previous term. The recurring profit was
posted at Yen 3 million and the net profit at Yen 3 million, respectively,
compared with Yen 8 million recurring loss and Yen 8 million net losses,
respectively, a year ago.
For the term ended May 2014 the recurring profit was projected at Yen 15
million
and the net profit at Yen 10 million, respectively, on a 6% rise in
turnover, to Yen 65 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 12.8 million, on 30 days normal terms.
Date Registered: Jun 1994
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued: 20 shares
Sum: Yen 10 million
Major shareholders (%): Osamu Ohara (50), Yuhei Hauchi
(10)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales machine tools, cutting tools, machining center, other (--100%
(Handling items): edge master, machining center, carbon fiber plate,
guide unit, infinite focus, round fine centering system, other (as cited from
the firm’s website)
Clients: [Mfrs,
wholesalers] Panasonic Corp, Hitachi Tool, Mitsubishi Material, Komatsu
Seisakusho, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Agathon, Arcona,
other from Switz, Austria, other
Payment record: Slow
But Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Mizuho Bank (Kichijoji)
MUFG (Ogikubo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/05/2014 |
31/05/2013 |
31/05/2012 |
31/05/2011 |
|
|
Annual
Sales |
|
650 |
615 |
569 |
653 |
|
Recur.
Profit |
|
15 |
3 |
-8 |
|
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Net
Profit |
|
10 |
3 |
-8 |
12 |
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Total
Assets |
|
|
496 |
307 |
279 |
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Current
Assets |
|
|
348 |
379 |
|
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Current
Liabs |
|
|
194 |
62 |
|
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Net
Worth |
|
|
167 |
164 |
173 |
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Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
5.69 |
8.08 |
-12.86 |
85.51 |
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Current Ratio |
.. |
179.38 |
611.29 |
.. |
|
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N.Worth Ratio |
.. |
33.67 |
53.42 |
62.01 |
|
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R.Profit/Sales |
2.31 |
0.49 |
-1.41 |
.. |
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N.Profit/Sales |
1.54 |
0.49 |
-1.41 |
1.84 |
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|
Return On Equity |
.. |
1.80 |
-4.88 |
6.94 |
|
Notes:
Forecast (or estimated) figures for the 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.20 |
|
UK Pound |
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
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Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
|
<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.