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Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
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Name : |
APOLLO ELECTRIC
CO LTD |
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Registered Office : |
1600-11 Sagisaka-Naka Iwata City
Shizuoka-Pref 438-0004 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2013 |
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Date of Incorporation : |
December 1968 |
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Com. Reg. No.: |
0304-01-015675 (Shizuoka-Iwata) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of low voltage & high voltage transformer, reactor, high voltage transformers or medical equipment, vibration semiconductor equipment, power supply, battery charger for welfare equipment, battery charger for automobile, motorcycle & AGU (automobile guard vehicles), electric mobile, system equipment as well as medical equipment |
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No of Employees : |
73 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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 |
APOLLO ELECTRIC CO LTD
Apollo Denki KK
1600-11Sagisaka-Naka
Iwata City Shizuoka-Pref 438-0004 JAPAN
Tel:
0538-38-2228 Fax: 0508-38-2898
*.. The given address is its Hamamatsu Factory
URL: http://www.apollo-elec.co.jp
E-Mail address: (thru the URL
Manufacturer of low voltage & high voltage transformer, reactor,
high voltage transformers or medical equipment, vibration semiconductor
equipment, ;power supply, battery charger for welfare equipment, battery
charger for automobile, motorcycle & AGU (automobile guard vehicles),
electric mobile, system equipment as well as medical equipment
Tokyo,
Machida
China
Hamamatsu,
Kyoto
· SATORU OTA, PRES
Akira
Ota, ch
Kazuaki
Iida, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,452 M
PAYMENTSSlow But Correct CAPITAL Yen 50 M
TREND UP WORTH Yen 120 M
STARTED 1968 EMPLOYES 73
MFR OF VOLTAGE TRANSFORMER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Akira Ota, now ch at the firm, in order to make most of his experience in the subject line of business. Satoru Ota is his son. This is a specialized mfr of low & high voltage transformer, rector, high voltage transformer or medical equipment, vibration coil, semiconductor production equipment, other. Clients include electric mfrs, engine mfrs, other.
Financials are only partially disclosed for the 30/11/2013 fiscal term.
The sales volume for Nov/2013 fiscal term amounted to Yen 1,452 million, a 48% up from Yen 982 million in the previous term. Sales were poor in the precious term, and recovered this term. Large lot orders were received from engine makers. The net profit was posted at Yen 6 million, compared with Yen 88 million recurring loss and Yen 88 million net losses, respectively, a year ago.
For the current term ending Nov 2014 the net profit is projected at Yen 10 million, on a 5% rise in turnover, to Yen 1,520 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1968
Regd No.: 0304-01-015675 (Shizuoka-Iwata)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
400,000 shares
Issued:
100.000 shares
Sum: Yen 50 million
Major shareholders (%): Employees’ S/Holding Assn (38),
Akira Ota (25), Satorui Ota (15), Kazuko Atsumi (5), Sadao Ota (5)
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures low voltage & high voltage transformer, reactor, high voltage transformers or medical equipment, vibration semiconductor equipment, ;power supply, battery charger for welfare equipment, battery charger for automobile, motorcycle & AGU (automobile guard vehicles), electric mobile, system equipment,, medical equipment, other (--100%)
Clients: [Mfrs, wholesalers] Oki Electric, Shimadzu Corp, Recom Co, Hamamatsu Photonix Co, Yamaha Motor, Panasonic Storage Battery, , Shizuoka Seiki, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Panasonic Industry Sales, Salom, Osaka Dengyosha, Okamoto Wireless Electric, Kyoritsu High Frequency, Sonic Technology Co, Shoei Print Mfg, other
Payment record: Slow But Correct
Location: Business area in Shizuoka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Shizuoka Bank (Hamamatsu-Chuo)
Mizuho Bank (Hamamatsu)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/11/2013 |
30/11/2012 |
30/11/2011 |
30/11/2010 |
|
|
Annual
Sales |
|
1,452 |
982 |
1,093 |
902 |
|
Recur.
Profit |
|
|
-88 |
2 |
56 |
|
Net
Profit |
|
6 |
-88 |
1 |
55 |
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Total
Assets |
|
N/A |
1,028 |
1,049 |
988 |
|
Current
Assets |
|
|
639 |
724 |
704 |
|
Current
Liabs |
|
|
370 |
427 |
391 |
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Net
Worth |
|
120 |
114 |
203 |
204 |
|
Capital,
Paid-Up |
|
50 |
50 |
50 |
50 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
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S.Growth Rate |
47.86 |
-10.16 |
21.18 |
71.48 |
|
|
Current Ratio |
|
.. |
172.70 |
169.56 |
180.05 |
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N.Worth Ratio |
.. |
11.09 |
19.35 |
20.65 |
|
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R.Profit/Sales |
|
.. |
-8.96 |
0.18 |
6.21 |
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N.Profit/Sales |
0.41 |
-8.96 |
0.09 |
6.10 |
|
|
Return On Equity |
.. |
-77.19 |
0.49 |
26.96 |
|
Notes:
Actual figures for the 30/11/2013 fiscal term, although partially disclosed.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.08 |
|
UK Pound |
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
|
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 |
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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 |
|
<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.