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Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
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Name : |
JASCO INTERNATIONAL CO LTD |
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Registered Office : |
1-11-10 Myojincho Hachioji Tokyo-Metrop 192-0046 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2014 |
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Date of Incorporation : |
September 1977 |
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Com. Reg. No.: |
0101-01-001796 |
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Legal Form : |
Limited Company |
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Line of Business : |
A trading house for import, export
and wholesale of analytical instruments & testing equipment: |
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No. of Employees |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 |
JASCO INTERNATIONAL CO LTD
REGD NAME: Jasco
International KK
MAIN OFFICE: 1-11-10
Myojincho Hachioji Tokyo-Metrop 192-0046 JAPAN
Tel:
042-649-1421 Fax: 042-649-1874
URL: http://www.jascoint.co.jp/
E-Mail
address: sales@jascoint.co.jp
Import,
export, wholesale of spectroscopic & chromatographic instruments
Hachioji
(second division), Tokyo, Osaka, Nagoya, Fukuoka
USA,
Germany, UK, France, Italy, Hungary, Netherlands, Spain
MITSUO
WATANABE PRES
Akihiro Shibata, dir
Hiroyuki Nakagawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,856 M
PAYMENTSREGULAR CAPITAL Yen
60 M
TREND SLOW WORTH Yen 3,737 M
STARTED 1977 EMPLOYES 80
A TRADING FIRM SPECIALIZING IN
ANALYTICAL INSTRUMENTS & TESTING
EQUIPMENT, AFFILIATED WITH JASCO
CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established on the basis of an overseas trading division separated
from Jasco Corp, mfr of analytical instrumentation, Hachioji,
Tokyo-Metrop. Jasco Corp started exports
of scientific instruments in 1965. This
is a trading house (virtually a trading division of the said Jasco Corp),
specializing in analytical instruments & other scientific testing equipment
with three core divisions: Division 1, handling spectroscopic &
chromatographic instruments; Division 2, handling mass spectrometers; and
Division 3, handing rheological measurement systems & plastic testing
devices (details see OPERATION). Goods are imported from and exported to USA,
UK, Germany, Italy, France, Netherlands, Sweden, etc through its group
subsidiaries & agent dealers.
Domestic clients include universities, laboratories, mfrs, wholesalers,
other.
The sales volume for Jul/2013
fiscal term amounted to Yen 3,856 million, a 7% down from Yen 4,132 million in
the previous term. The recurring profit
was posted at Yen 101 million and the net profit at Yen 64 million, respectively,
compared with Yen 204 million recurring profit and Yen 129 million net profit,
respectively, a year ago.
For
the current term ending Jul 2014 the recurring profit is projected at Yen 110
million and the net profit at Yen 70 million, respectively, on a 5% rise in
turnover, to Yen 4,050 million. Weaker
Yen may contribute to raise import/export earnings in Yen terms.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements.
Date Registered: Sept 1977
Regd No.: 0101-01-001796 (Tokyo-Hachioji)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
120,000 shares
Sum: Yen 60
million
Major shareholders (%): Jasco Corp*(32.1), Hiroshi Kobayashi
(17.2), Teruo Nakahara (10), Akiko Miyazaki (7.5), Noriaki Harima (6.8)
No. of shareholders: 23
*.. Mfr of analytical
instrumentation, Hachioji, Tokyo-Metrop, founded 1958: capital Yen 90 million,
turnover Yen 7,578 million, net profit Yen 116 million, employees 281, pres
Junji Takeda
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading house for import, export and
wholesale of analytical instruments & testing equipment:
(Sales breakdown by divisions):
Division 1 (35%): Analytical instruments spectroscopic
& chromatographic instruments in educational, industrial, quality control
& research laboratories; exports circular dichroism spectropolarimeters
mfr’d by the parent, Jasco Corp, over 45 countries worldwide;
Division 2 & New Division (60%):
organic & inorganic mass spectrometers; distributor for Micromass Ltd (UK);
Division 3, others (5%): Scientific instruments:
material testing instruments, mainly rheological measurement & plastic testing
instruments, used by polymers & plastics, foods & cosmetics industries. (Breakdowns are all about)
Clients: Academics, industrial research firms,
food processors, cosmetics makers, plastic makers, government agencies,
environmental analytic labs, research institutes, other. Exports the products of the parent, Jasco
Corp, to over 45 countries worldwide.
No. of
accounts: 2,000
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Jasco Corp, Phenom
World, Nabertherm, Euro Vector SPA, FTA, Waters Corporation, Varian Inc, First
Ten Angstroms Inc, Isoprime Ltd, REOLO GICA Instruments, other.
Payment record:
Regular
Location:
Business area in Hachioji City, adjacent to Tokyo. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
MUFG
(Hachioji-Chuo)
Mizuho
Bank (Hachioji)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/07/2014 |
31/07/2013 |
31/07/2012 |
31/07/2011 |
|
|
Annual
Sales |
|
4,050 |
3,856 |
4,132 |
4,586 |
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Recur.
Profit |
|
110 |
101 |
204 |
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Net
Profit |
|
70 |
64 |
129 |
174 |
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Total
Assets |
|
|
5,649 |
5,468 |
5,233 |
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Current
Assets |
|
|
5,042 |
5,274 |
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Current
Liabs |
|
|
1,563 |
1,731 |
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Net
Worth |
|
|
3,737 |
3,685 |
3,567 |
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Capital,
Paid-Up |
|
|
60 |
60 |
60 |
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Div.Ttl
in Million (¥) |
|
|
12 |
12 |
12 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
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S.Growth Rate |
5.03 |
-6.68 |
-9.90 |
-13.00 |
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Current Ratio |
|
.. |
322.58 |
304.68 |
.. |
|
N.Worth Ratio |
.. |
66.15 |
67.39 |
68.16 |
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R.Profit/Sales |
|
2.72 |
2.62 |
4.94 |
.. |
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N.Profit/Sales |
1.73 |
1.66 |
3.12 |
3.79 |
|
|
Return On Equity |
.. |
1.71 |
3.50 |
4.88 |
|
Notes:
Forecast (or estimated) figures for the 31/07/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
PDT |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.