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Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
IMPACT INTERNATIONAL |
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Registered Office : |
3-1-13 Shinsenji-Dori Chuoku Kobe 651-0051 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
March 1988 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Imports, exports and
wholesales: machine tools, metal cutting tools & parts, oil hydraulic
equipment (pumps, valves, motors, units, other), auto body parts (aluminum,
aluminum alloy stamps, press products), other (--100%) |
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|
|
|
No. of Employees |
10 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but correct |
|
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 |
IMPACT INTERNATIONAL
REGD NAME: YK
Impact International
MAIN OFFICE: 3-1-13
Shinsenji-Dori Chuoku Kobe 651-0051 JAPAN
Tel:
078-230-0531 Fax: 078-230-0532
URL: http://www.impact-japan.co.jp
E-Mail
address: sales@impact-japan.co.jp
Import,
export of machine tools, metal cutting machine tools, auto body parts
Nil
India
MANJIT
WASU, PRES
Awajit
Wasu, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 925 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
470 M
STARTED 1988 EMPLOYES 10
TRADING FIRM SPECIALIZING IN MACHINE TOOLS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Manjit Wasu, and Indian resident, in order to make
most of his experience in the subject line of business. This is a trading firm for import, export of
machine tools, metal cutting machine tools oil hydraulic equipment, auto body
parts, other. Goods are exported to
India, other. .
The sales
volume for Sept/2013 fiscal term amounted to Yen 925 million, a 27% down from
Yen 1,255 million in the previous term.
High Yen hurt exports, reducing its revenues in Yen terms. The recurring profit was posted at Yen 56
million and the net profit at Yen 44 million, respectively, compared with Yen
170 million recurring profit and Yen 105 million net profit, respectively, a
year ago.
For the
current term ending Sept 2014 the recurring profit is projected at Yen 60
million and the net profit at Yen 50 million, respectively, on a 5% rise in
turnover, to Yen 970 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Mar 1988
Legal Status:
Private Limited Company (Yugen Kaisha)
Regd Capital: Yen
10 million
Major sharehoders (%): Manjit Wasu (25), Awajit Wasu
(25), other
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales:
machine tools, metal cutting tools & parts, oil hydraulic equipment (pumps,
valves, motors, units, other), auto body parts (aluminum, aluminum alloy
stamps, press products), other (--100%)
Clients: [Mfrs, wholesalers] Hero Motor Corp,
Cummins India, Malti Suzuki, other
No. of
accounts: 300
Domestic
areas of activities: Centered in the greater-Osaka
Suppliers: [Mfrs, wholesalers] Kataoka Machine o,
Nabtesco Corp, Hanwa Trading, IHI Corp, J-Tect Corp, other
Payment record: Regular
Location:
Business area in Kobe. Office premises
at the caption address are owned by Manjit Wasu as his private residence and
maintained satisfactorily.
Bank References:
Resona
Bank (Kobe)
Mizuho
Bank (Nada)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
Annual
Sales |
|
970 |
925 |
1,255 |
951 |
|
Recur.
Profit |
|
60 |
56 |
170 |
.. |
|
Net
Profit |
|
50 |
44 |
105 |
44 |
|
Total
Assets |
|
|
507 |
567 |
444 |
|
Net
Worth |
|
|
470 |
446 |
361 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
20.00 |
20.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.86 |
-26.29 |
31.97 |
15.55 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
92.70 |
78.66 |
81.31 |
|
|
N.Profit/Sales |
5.15 |
4.76 |
8.37 |
4.63 |
|
Notes:
Forecast (or estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.77 |
|
|
1 |
Rs.99.01 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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.