|
Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
JOSSI SYSTEMS AG |
|
|
|
|
Registered Office : |
Frauenfeldstrasse 35, 9545 Wängi/TG |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
29.09.1997 |
|
|
|
|
Com. Reg. No.: |
440.3.001.287-3 / 410851 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
· Manufacture of machinery for textile, apparel and leather production · Other manufacturing n.e.c. |
|
|
|
|
No of Employees : |
22 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Switzerland |
B2 |
B2 |
|
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 |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy began to recover in 2010. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safe-haven currency. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell below 2% per year during 2011-13. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and is considering the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy.
|
Source
: CIA |
Jossi Systems AG
Frauenfeldstrasse
35
9545 Wängi/TG
Switzerland/CH
Telephone: 052
3697410
Fax: 052
3697411
Web
site: http://www.jossisystems.ch
E-mail: info.sys@jossi.ch
WIN
Worldbox No.: CH0000402331
VAT-No.: CHE106835452
Established: 1997
Line
of Business: Machinery, Consumer
goods manufacturing
Industry
Division: Manufacturing
Industry-code (NACE): 2894 Manufacture of machinery for textile,
apparel and leather production
3299 Other manufacturing n.e.c.
Import/Export: Export
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 22
Sales: CHF 10-20 Mio
The business activities includes the production,
sales, assembly and service for machinery to recognize and eliminate foreign
particles in cotton tufts. They exports machinery to all cotton-processing
countries.
Products: THE VISION SHIELD, MAGIECEYE,
COMBO SHIELD, THE METAL SHIELD, THE FIRE SHIELD.
Information on property ownership was not
available.
Company
No: 440.3.001.287-3 /
410851
Legal
form: Company limited
by shares
Registration: 29.09.1997
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Thurgau
History: Date of Statutes:
20.03.2009
Date of
Incorporation Statutes: 25.09.1997
Entry Deleted Name
29.09.1997 Jossi
Systems SA
29.09.1997 Jossi
Systems AG
29.07.1997 Jossi
Systems Ltd.
Entry Deleted Legal domicile
29.09.1997 Gachnang,
Switzerland
Entry Deleted Address
active Alte
Landstrasse , 8546 Islikon, Switzerland/CH
Entry Deleted Capital
29.09.1997 Share
Capital CHF 300,000, paidup CHF 300,000
Entry Deleted Capital Structure
29.09.1997 300
Registered shares of CHF 1,000.--
Entry Deleted Activity (original Language)
23.04.2009 Herstellung
und Vertrieb von Schutzsystemen für die Textilindustrie. Die Gesellschaft kann
sich an anderen Unternehmungen beteiligen, gleichartige oder verwandte
Unternehmungen erwerben, errichten oder sich mit solchen zusammenschliessen und
Grundstücke erwerben, verkaufen und belasten.
23.04.2009 Herstellung und Vertrieb von Schutzsystemen
für die Textilindustrie. Die Gesellschaft kann Zweigniederlassungen errichten,
sich an anderen Unternehmungen beteiligen, gleichartige oder verwandte
Unternehmungen erwerben oder errichten und Grundstücke erwerben, veräussern
oder belasten.
Entry Deleted Remarks (original Language)
23.04.2009 Reports:
Mitteilungen an die Aktionäre erfolgen schriftlich oder per Email an die im
Aktienbuch verzeichneten Adressen.
29.09.1997 Publishing
authority: SHAB.
29.09.1997 23.04.2009 Contribution in kind/Asset takeover: Die
Gesellschaft übernimmt bei der Gründung von der Jossi Holding AG, in Islikon,
deren Fabrikations- und Handelsbetrieb für Schutzsystem für die Textilindustrie
laut Sacheinlagevertrag vom 25.09.1997 und Aufteilungsbilanz per 31.03.1997 mit
Aktiven von CHF 1'323'705.-- und Passiven von CHF 740'000.--, wofür 300
Namenaktien zu CHF 1'000.-- ausgegeben und CHF 283'705.-- als Forderung
gutgeschrieben werden.
29.09.1997 23.04.2009 Reports: Die Mitteilungen an die Aktionäre
erfolgen durch eingeschriebenen Brief an die im Aktienbuch eingetragene
Adresse.
Title Name
President Dr. Geoffrey
Scott, Origin: United Kingdom, Residential address: Erlenbach/ZH, Switzerland,
joint signature of two, Registered since: 11.12.2013
Director Peter
Huber, Origin: Buchs ZH, Switzerland, Residential address: Wetzikon/ZH,
Switzerland, joint signature of two, Registered since: 11.12.2013
Title Name
General
Manager Walter
Kiechl, Origin: Zürich, Switzerland, Residential address: 8248 Uhwiesen
(Laufen-Uhwiesen)/ZH, Switzerland, joint signature of two, Registered since:
08.07.1999
Member
with signing authority Andreas
Jenny, Origin: Ennenda, Switzerland, Residential address: 9507 Stettfurt/TG,
Switzerland, joint signature of two, Registered since: 29.09.1997
Member
with procuration David Brütsch,
Origin: Zürich, Büttenhardt, Switzerland, Residential address: Pfäffikon /ZH,
Switzerland, joint power of attorney of two, Registered since: 25.11.2011
Title Name
Auditor OBT AG, Residential
address: Weinfelden, Switzerland, Registered since: 29.09.1997
Title Name
Chief
Executive Officer Walter
Kiechl
Chief
Technical Officer David
Brütsch
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2011 31.12.2010 31.12.2009 31.12.2008 31.12.2007
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: IAS IAS IAS IAS IAS
Balance Sheet
Intangible fixed
assets 304,325.0 318,992.0 333,789.0 349,032.0 364,129.0
Land and buildings 2,002.0 2,129.0 2,452.0 2,667.0 3,000.0
Other tangible
fixed assets 9,614.0 8,134.0 7,208.0 5,572.0 3,957.0
Tangible fixed
assets 11,616.0 10,263.0 9,660.0 8,239.0 6,957.0
Financial fixed assets 200.0 173.0 168.0 225.0 182.0
other fixed assets 16,214.0 15,805.0 17,652.0 17,825.0 19,921.0
Fixed assets 332,355.0 345,233.0 361,269.0 375,321.0 391,189.0
Stocks 14,645.0 12,373.0 10,451.0 12,233.0 15,893.0
Trade accounts
receivable 23,809.0 17,892.0 15,108.0 12,235.0 16,203.0
Liquid assets 28,816.0 21,049.0 15,053.0 7,490.0 5,383.0
other trade
accounts 3,222.0 2,907.0 1,840.0 1,734.0 2,615.0
Accruals 805.0 1,018.0 792.0 774.0
Other current
assets 32,843.0 23,956.0 17,911.0 10,016.0 8,772.0
Current assets 71,297.0 54,221.0 43,470.0 34,484.0 40,868.0
Total assets 403,652.0 399,454.0 404,739.0 409,805.0 432,057.0
Capital 79,524.0 79,524.0 79,524.0 61,664.0 65,600.0
Other shareholders
funds 172,686.0 145,134.0 124,083.0 97,878.0 92,994.0
Total shareholders
equity 252,210.0 224,658.0 203,607.0 159,542.0 158,594.0
Minority interests 0.0 0.0 0.0 0.0 0.0
long term debt
(financial debts) 59,468.0 87,518.0 114,277.0 154,036.0 168,795.0
Provisions 4,763.0 1,353.0 1,282.0 2,735.0 2,057.0
Other non current
liabilities 41,267.0 42,360.0 50,133.0 58,403.0 60,457.0
Non current
liabilities 105,498.0 131,231.0 165,692.0 215,174.0 231,309.0
short term debt
(financial debts) 10,000.0 10,000.0 11,900.0 12,111.0 10,218.0
Trade accounts
payable 14,052.0 12,262.0 4,434.0 7,277.0 12,705.0
Provisions 2,601.0 8,642.0 1,182.0 3,916.0 2,200.0
Accruals 14,441.0 11,527.0 11,212.0 10,940.0 15,561.0
other accounts
payable 4,850.0 1,134.0 6,712.0 845.0 1,470.0
other current
liabilities 21,892.0 21,303.0 19,106.0 15,701.0 19,231.0
Current
liabilities 45,944.0 43,565.0 35,440.0 35,089.0 42,154.0
Shareh. equity,
min. interests + liabilities 403,652.0 399,454.0 404,739.0 409,805.0 432,057.0
Profit and loss
account
Sales 192,510.0 132,841.0 100,763.0 154,893.0 186,666.0
Reduction of proceeds 4,361.0 2,746.0 2,858.0 1,925.0 3,087.0
Net sales 188,149.0 130,095.0 97,905.0 152,968.0 183,579.0
Other operating
revenue 156.0 71.0 329.0 77.0 864.0
Operating revenue 188,305.0 130,166.0 98,234.0 153,045.0 184,443.0
Cost of goods sold 68,348.0 52,978.0 41,631.0 61,952.0 76,212.0
Gross profit 119,957.0 77,188.0 56,603.0 91,093.0 108,231.0
Other operating
expenses 78,597.0 57,757.0 49,146.0 72,193.0 74,478.0
Operating result 41,360.0 19,431.0 7,457.0 18,900.0 33,753.0
Interest revenues 253.0 140.0 609.0 2,739.0 1,706.0
other financial
revenues 2,228.0 2,303.0
Financial income 2,481.0 2,443.0 609.0 2,739.0 1,706.0
Interest expenses 2,294.0 5,367.0 7,653.0 12,950.0 28,571.0
other financial
expenses 1,900.0 2,213.0
Financial expenses 4,194.0 7,580.0 7,653.0 12,950.0 28,571.0
Financial result -1,713.0 -5,137.0 -7,044.0 -10,211.0 -26,865.0
Result before
extraordinary items 39,647.0 14,294.0 413.0 8,689.0 6,888.0
Extraordinary
Result 0.0 0.0 0.0 0.0 0.0
Result before
taxes 39,647.0 14,294.0 413.0 8,689.0 6,888.0
Taxes 3,410.0 -6,469.0 -665.0 3,373.0 3,301.0
Result before
minority interests 36,237.0 20,763.0 1,078.0 5,316.0 3,587.0
minority interests 0.0 0.0 0.0 0.0 0.0
Result for the
financial year 36,237.0 20,763.0 1,078.0 5,316.0 3,587.0
Cash flow
Depreciation 3,055.0 2,393.0 1,741.0 1,880.0 1,955.0
Cash flow 39,292.0 23,156.0 2,819.0 7,196.0 5,542.0
Cash flow from
operating activities 54,017.0 42,645.0 14,278.0 32,756.0 39,225.0
Investments in
tangible fixed assets 4,464.0 3,408.0 3,319.0 3,513.0 1,991.0
Cash flow from
investing activities -4,835.0 -3,634.0 -3,000.0 -3,347.0 -2,016.0
Cash flow from
financing activities -41,310.0 -32,729.0 -4,015.0 -27,413.0 -39,727.0
Others -105.0 -286.0 300.0 111.0 -492.0
Change in
liquidity 7,767.0 5,996.0 7,563.0 2,107.0 -3,010.0
Liquidity at
beginning of the year 21,049.0 15,053.0 7,490.0 5,383.0 8,393.0
Liquidity at end
ot the year 28,816.0 21,049.0 15,053.0 7,490.0 5,383.0
Notes
Material costs 68,348.0 52,978.0 41,631.0 61,952.0 76,212.0
Cost of employees 47,818.0 39,408.0 31,647.0 50,838.0 50,454.0
Research and
Development 18,174.0 14,916.0 11,010.0 19,857.0 18,645.0
Added value 92,814.0 61,462.0 41,454.0 23,519.0 88,707.0
Working Capital 24,402.0 18,003.0 21,125.0 17,191.0 19,391.0
Sales per Employee 377.8 292.3 218.1 285.4 347.0
Market
capitalisation 348,552.0 271,989.0 225,882.0 61,730.0 324,720.0
Gross cost land
and buildings 2,671.0 2,661.0 2,893.0 2,968.0 3,161.0
Gross cost other
tangible fixed assets 18,442.0 14,619.0 11,818.0 9,094.0 5,893.0
Gross cost total 21,113.0 17,280.0 14,711.0 12,062.0 9,054.0
Insurance value
land and buildings 4,944.0 7,183.0 5,325.0 5,548.0 5,851.0
Insurance value
other tang. fixed assets 29,549.0 27,271.0 25,537.0 24,315.0 21,465.0
Insurance value
total 34,493.0 34,454.0 30,862.0 29,863.0 27,316.0
Full time units at
year end 498 445 449 536 529
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.03.2012 31.03.2011 31.03.2010 31.03.2009
Number of months: 12 12 12 12
Currency: mil.
JPY mil. JPY mil. JPY mil. JPY
Balance Sheet
Intangible fixed
assets 106,777.0 79,340.0 82,722.0 118,809.0
Tangible fixed
assets 481,053.0 497,278.0 531,977.0 589,264.0
Financial fixed
assets 1,177,592.0 1,123,307.0 1,168,240.0 913,478.0
other fixed assets 122,206.0 110,634.0 133,506.0 137,914.0
Fixed assets 1,887,628.0 1,810,559.0 1,916,445.0 1,759,465.0
Stocks 116,447.0 104,263.0 88,349.0 102,160.0
Liquid assets 274,710.0 198,654.0 287,965.0 169,743.0
Current assets 769,356.0 670,893.0 672,801.0 567,967.0
Total assets 2,656,984.0 2,481,452.0 2,589,246.0 2,327,432.0
Total shareholders
equity 1,143,790.0 1,030,350.0 1,057,951.0 931,954.0
Minority interests 54,052.0 45,590.0 46,979.0 45,716.0
long term debt
(financial debts) 436,421.0 442,251.0 530,609.0 516,841.0
Provisions 48,973.0 46,925.0 45,234.0 38,595.0
Other non current
liabilities 394,221.0 404,392.0 473,532.0 379,947.0
Non current
liabilities 879,615.0 893,568.0 1,049,375.0 935,383.0
Current
liabilities 579,527.0 511,944.0 434,941.0 414,379.0
Shareh. equity,
min. interests + liabilities 2,656,984.0 2,481,452.0 2,589,246.0 2,327,432.0
Profit and loss
account
Net sales 1,543,352.0 1,479,839.0 1,377,769.0 1,584,252.0
Operating result 67,963.0 53,498.0 -27,010.0 -62,291.0
Result for the
financial year 58,594.0 47,205.0 -26,273.0 -32,767.0
Name: TOYOTA INDUSTRIES
CORPORATION
City/Country: AICHI, Japan/JP
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect,
Group-Level 1
Name: TOYOTA INDUSTRIES
CORPORATION
City/Country: AICHI, Japan/JP
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Type: direct, Group-Level
1
Name: Uster Technologies AG
City/Country: Uster/ZH, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 05.12.2013)
Name: Uster Technologies de
Mexico SA de CV
City/Country: Tlalnepantla, Mexico/MX
Name: Uster Technologies
GmbH
City/Country: Grünwald/Bayern, Germany/DE
Name: Uster Technologies
Holding (Thailand) Ltd.
City/Country: Bangkok, Thailand/TH
Name: Uster Technologies Inc
City/Country: Knoxville/Tennessie, United
States of America/US
Name: Uster Technologies
(India) Marketing Private Limited
City/Country: BANGALORE/Karnataka, India/IN
Name: Uster Technologies
(India) Private Limited
City/Country: BANGALORE/Karnataka, India/IN
Name: Uster Technologies KK
City/Country: Osaka-fu, Japan/JP
Name: Uster Technologies
(Shanghai) Trading Co Ltd
City/Country: Shanghai, China/CN
Name: Uster Technologies
Sulamericana Ltda
City/Country: Alphaville-Barueri/Sao Paulo,
Brazil/BR
Name: Uster Technologies
(Suzhou) Co Ltd
City/Country: Suzhou, China/CN
Name: Uster Technologies
(Thailand) Ltd
City/Country: Bangkok, Thailand/TH
Name: Uster Teknoloji
Ticaret AS
City/Country: Merter/Istanbul, Turkey/TR
It is believed that the company has no
investments.
Control date Year No. Amount CHF Status
18.07.2013 2013 0
18.07.2013 2012 0
18.07.2013 2011 0
18.07.2013 2010 0
18.07.2013 2009 0
04.02.2004 2004 0
04.02.2004 2003 0
04.02.2004 2002 0
An updated legal action check is only
available against proof of interest. e.g. a copy of an enquiry letter, and
order or invoice relating to the subject company.
Financial Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
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
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.