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Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
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Name : |
OAK-TREES INC |
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Registered Office : |
1-1-3 Kawayanagicho Koshigaya Saitama-Pref 343-6540 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2013 |
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Date of Incorporation : |
October, 2000 |
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Com. Reg. No.: |
0300-01-065024 (Saitama-Koshigaya) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of plastic insulators, plastic products |
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No. of Employees : |
40 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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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 : |
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 |
OAK-TREES INC
REGD NAME: KK Kashinoki Seisakusho
MAIN OFFICE: 1-1-3 Kawayanagicho Koshigaya Saitama-Pref
343-6540 JAPAN
Tel:
048-990-6540
Fax: 048-990-6550
URL: http://www.oak-tree.co.jp
E-Mail address: (thru the URL)
Mfg of plastic insulators, plastic products
Nil
China, Hong Kong
At the caption address, China
HIROSHI OKUMA, PRES
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 800 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND UP WORTH Yen 101 M
STARTED 2000 EMPLOYES 40
MFR OF PLASTIC INSULATORS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1995 by Hiroshi Okuma,
on his account, and was incorporated in 2000.
This is a family-based mfr of plastic insulators (See OPERATION). More than 50% of the products are exported to
China, other. The firm has mfg base in
China (Changli Plastic products Co Ltd).
Domestic clients include Hitachi Ltd group firms.
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Aug/2013 fiscal term amounted to Yen 800 million, a
12% up from Yen 716 million in the previous term. Exports were robust. Production in China rose. The net profit was posted at Yen 24 million,
compared with Yen 11 million net loss a year ago.
For the current term ending Aug 2014 the net profit is projected at Yen
25 million, on a 6% rise in turnover, to Yen 850 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct 2000
Regd No.: 0300-01-065024 (Saitama-Koshigaya)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders
(%): Hiroshi Okuma (82), Kesako Okuma (18)
No. of
shareholders: 2
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
plastic insulators: micro coaxial cables, low loss antenna cable, heat seal
colored tapes, medical multi coaxial cables, skin tapes, shield tapes, color
tapes, insulation tapes, others (--100%)
More than 50% of
the products are exported to China, other
Clients: [Mfrs,
wholesalers] Hitachi Electric Wire, Hitachi Cable Manchester, Hitachi Cable
Johor, Hitachi Cable Shanghai, Shin Din Cable Ltd, Totoku Electric Co,
other
No. of accounts: 300
Domestic areas of activities:
Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Seiwa Co, Tokai Rubber Ind, MA Packaging, Ryoju Corp, Hiyama Ind,
other
Payment record: Slow but correct
Location: Business area in
Koshigaya, Saitama-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Koshigaya)
Saitama
Resona Bank (Koshigaya)
Relations:
Satisfactory
|
Terms Ending: |
|
31/08/2014 |
31/08/2013 |
31/08/2012 |
31/08/2011 |
|
Annual Sales |
|
850 |
800 |
716 |
853 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
25 |
24 |
-11 |
3 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
101 |
84 |
95 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.25 |
11.73 |
-16.06 |
-41.17 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
|
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N.Profit/Sales |
2.94 |
3.00 |
-1.54 |
0.35 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/08/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
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 |
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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.