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Report Date : |
01.11.2014 |
IDENTIFICATION DETAILS
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Name : |
RENTAL SYSTEM TOKAI KK |
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Registered Office : |
74 Kiheicho Higashiku Hamamatsu City Shizuoka-Pref 431-3104 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
January 1990 |
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Com. Reg. No.: |
0804-01-005878 (Hamamatsu-Higashiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Rental/leasing of construction machinery & equipment (72%),
transportation of them (18.5%), sales of used warehouses, other (6.7%) |
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No of Employees : |
41 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
RENTAL SYSTEM TOKAI KK
REGD NAME: KK
Rental System Tokai
MAIN OFFICE: 74 Kiheicho
Higashiku Hamamatsu City Shizuoka-Pref 431-3104 JAPAN
Tel: 053-431-2525 Fax: 053-431-2020
URL: http://www.rentalsystemtokai.com
E-Mail address: (thru the URL)
Rental of
construction machinery
Shizuoka (3),
Nagoya
KENJI IKEYA, PRES Eiji Hayashi, rep dir
Tomohisa Kumagai,
mgn dir Taisuke Imai, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,893 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 30 M
TREND UP WORTH Yen 72 M
STARTED 1990 EMPLOYES 41
RENTAL OF CONSTRUCTION MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
This is a trading firm established by Gecoss Corp (See REGISTRATION), for renting construction
machinery & equipment, other, as handled by the parent. 70% of the sales are rental and leasing of
construction machinery, others for transportation. Clients include construction firms, other.
The sales volume for Mar/2014 fiscal term amounted to Yen 1,893 million,
a 2% up from Yen 1,859 million in the previous term. The recurring profit was posted at Yen 204
million and the net profit at Yen 214 million, respectively, compared with Yen
212 million recurring profit and Yen 204 million net profit, respectively, a
year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 230 million and the net profit at Yen 220 million, respectively, on a 3%
rise in turnover, to Yen 1,950 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Jan 1990
Regd No.:
0804-01-005878
(Hamamatsu-Higashiku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,400
shares
Issued: 600
shares
Sum: Yen
30 million
Major
shareholders (%): Gecoss Corp* (100)
*.. Top-ranked leasing
firm for construction steel scaffolding materials, belonging JFE Group, Tokyo,
founded 1968, listed Tokyo S/E, capital Yen 4,398 million, sales Yen 83,379
million, operating profit Yen 4,878 million, recurring profit Yen 3,875
million, net profit Yen 3,105 million, total assets Yen 89,757 million, net
worth Yen 34,590 million, employees 1,116, pres Tsutomu Yuba
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Rental/leasing
of construction machinery & equipment (72%), transportation of them (18.5%),
sales of used warehouses, other (6.7%)
Clients: [Mfrs,
wholesalers] Kiuchi Construction Co, Yahagi Construction Co, Kumagai Gumi Co,
Suzuyo Construction Co, Suyama Corp, other
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Gecoss Corp, Aichi Corp, Yanmar Construction Co, Hitachi
Construction Machinery Japan, Denyo Co, other
Payment record: No Complaints
Location: Business area in
Hamamatsu. Office premises at the
caption address are owned and maintained satisfactory.
Bank References:
Shizuoka Bank (Ichino)
MUFG (Hamamatsu)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
1,950 |
1,893 |
1,859 |
1,859 |
|
Recur.
Profit |
|
230 |
204 |
212 |
140 |
|
Net
Profit |
|
220 |
214 |
204 |
139 |
|
Total
Assets |
|
|
795 |
607 |
571 |
|
Current
Assets |
|
|
431 |
355 |
408 |
|
Current
Liabs |
|
|
349 |
357 |
509 |
|
Net
Worth |
|
|
72 |
-142 |
-347 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.01 |
1.83 |
0.00 |
-0.21 |
|
Current Ratio |
|
.. |
123.50 |
99.44 |
80.16 |
|
N.Worth Ratio |
|
.. |
9.06 |
-23.39 |
-60.77 |
|
R.Profit/Sales |
|
11.79 |
10.78 |
11.40 |
7.53 |
|
N.Profit/Sales |
|
11.28 |
11.30 |
10.97 |
7.48 |
|
Return On Equity |
|
.. |
297.22 |
.. |
.. |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.77.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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.