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Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
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Name : |
MACHIKAWA CO LTD |
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Registered Office : |
2-22 Seito Kanazawa City Ishikawa-Pref
920-8202 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2013 |
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Date of Incorporation : |
June 1978 |
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Com. Reg. No.: |
2200-01-006594
(Ishikawa-Kanazawa) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and wholesaler of
lawn mowers, other agricultural machinery & equipment, golf cart,
tractors as well as other gold-related equipment |
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No of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
|
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 |
MACHIKAWA CO LTD
Machikawa Shokai
KK
2-22 Seito Kanazawa
City Ishikawa-Pref 920-8202 JAPAN
Tel:
076-268-2337 Fax: 076-268-0500
E-mail address: (thru the URL)
Importer and wholesaler of lawn mowers, other agricultural machinery & equipment, golf cart, tractors as well as other gold-related equipment
Ueda
(Nagano)
KIYOMI
MACHIKAWA, PRES
Yoshitaka
Mizumoto, v pres
Takayuki
Yamamoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 810 M*
PAYMENTSNo Complaints CAPITAL Yen 30 M
TREND STEADY WORTH Yen 97 M
STARTED 1978 EMPLOYES 20
*..
Only estimated as not precisely disclosed
IMPORTER AND WHOLESALER OF LAWN MOWERS, OTHER AGRICULTURAL
EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by a certain Machikawa as Machikawa
Shokai KK. In Feb 2006 the firm was
transferred to the present shareholders and executives and renamed as Machikawa Co Ltd.
Kiyomi Machikawa took the office of pres Apr 2007. This is a trading firm specializing in
importing and wholesaling lawn mowers, and other agricultural equipment. In Nov 1995, obtained import agent from
Jensen Service GmbH. Clients include
Ministry of Land, Infrastructure & Transport, Japan Highway Public Corp, golf
courses, other, covering nation-wide.
Financials are only partially disclosed.
The figures for the Oct/2013 fiscal term are only estimated as gathered
from outside sources, as the firm does not precisely disclose them.
The sales volume for Oct/2013 fiscal term is estimated amounted to Yen
810 million, a 2% up from Yen 793 million in the previous term. Net profit was posted at Yen 23 million,
compared with Yen 22 million a year ago.
For the current term ending Oct 2014 the net profit is projected at Yen
25 million, on a 2% rise in turnover, to Yen 830 million.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Jun 1978
Regd No.: 2200-01-006594
(Ishikawa-Kanazawa)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
12,000 shares
Issued:
3,000 shares
Sum: Yen 30
million
Major shareholders (%): Kiyomi Machikawa (33),
Shin’ichi Machikawa (26), Fuji Seimitsu Co (17), Yoshitaka Mizumoto (10),
Takayuki Yamamoto (4)
No. of shareholders:
9
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales lawn mowers, and other agricultural machinery & equipment, golf
cart, tractors, other gold-related equipment, other (--100%).
Clients: [Public
agencies, golf courses] Golf Courses (85%), Ministry of Land & Transport,
Japan Highway Corp, other.
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kyoeisha, Chubu Kyoritsu Eco, Yamaha Motor Products, Hatsuta
Kakusanki, other.
Goods are also imported from Jensen, Toro, Wood Bay, other.
Payment record: No Complaints
Location: Business area in
Kanazawa City. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Kanazawa)
Hokuriku
Bank (Kanazawa-Chuo)
Relations:
Satisfactory.
(In Million Yen)
|
Terms Ending: |
|
31/10/2014 |
31/10/2013 |
31/10/2012 |
31/10/2011 |
|
Annual
Sales |
|
830 |
810 |
793 |
622 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
25 |
23 |
22 |
9 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
97 |
64 |
42 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.47 |
2.14 |
27.49 |
-10.89 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
3.01 |
2.84 |
2.77 |
1.45 |
|
Notes: Financials are only partially disclosed. The 31/10/2013 fiscal term figures are only
estimated as not precisely disclosed for the term.
Forecast
(or estimated) for the 31/10/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
UK Pound |
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
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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 |
|
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.