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Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
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Name : |
IMANGA ELECTRIC IND CO LTD |
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Registered Office : |
3-9-21 Higashi-Imazato Higashinariku Osaka 537-0011 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
Sept., 1977 |
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Com. Reg. No.: |
1200-01-011736 (Osaka-Higashinariku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of power supply, electronic auto control
unit |
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No. of Employees : |
24 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
IMANGA ELECTRIC IND CO LTD
REGD NAME: Imanaga Denki
Sangyo KK
MAIN OFFICE: 3-9-21 Higashi-Imazato
Higashinariku Osaka 537-0011 JAPAN
Tel:
06-6974-1111 Fax: 06-6974-1253
E-Mail address: (thru
the URL)
Import, export,
wholesale of power supply, electronic auto control unit,
Tokyo
China, Hong Kong
MASAHIRO IMANAGA,
PRES
Hirokazu Imanaga,
dir
Masahito Imanaga,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,391 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen 27 M
TREND SLOW WORTH Yen
544 M
STARTED 1977 EMPLOYES 24
TRADING FIRM SPECIALIZING IN POWER SUPPLY,
OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Masahiro Imanaga in order to make most of his
experience in the subject line of business.
This is a trading firm for import, export and wholesale of power supply,
electronic auto control unit, adaptors, other.
Goods are exported. Domestic
clients include major electronic makers, other.
The sales volume for Mar/2014 fiscal term amounted to Yen 1,391 million,
a 2% down from Yen 1,419 million in the previous term. The operations plunged into the red to post
Yen 6 million recurring loss and Yen 1 million net losses, respectively,
compared with Yen 7 million recurring loss and Yen 1 million net profit,
respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 10 million and the net profit at Yen 5 million, respectively, on a 5%
rise in turnover, to Yen 1,460 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Sept 1977
Regd No.:
1200-01-011736
(Osaka-Higashinariku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 216,000
shares
Issued: 54,000
shares
Sum: Yen
27 million
Major
shareholders (%): Masahiro Imanaga (51), other
No.
of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of power supply, electronic auto control unit, adaptors,
other (--100%)
Clients: [Mfrs,
wholesalers] Panasonic Corp, Mitsubishi Group firms, Glory Products, Inaba
Denki Sangyo Co, Fukunishi Electrical Co, Daishowa Seiki Co, other
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] TDK-Lambda Corp, Inaba Denki Sangyo Co, Fuji Micro, Fukunishi
Electrical Co, ENG Electric, Toyoda Gosei Co, Hirakawa Hewtech Corp, other
Payment record: Slow but Correct
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactory.
Bank
References:
MUFG
(Imazato-Kita)
SMBC (Fukaebashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
1,460 |
1,391 |
1,419 |
817 |
|
Recur.
Profit |
|
10 |
-6 |
-7 |
|
|
Net
Profit |
|
5 |
-1 |
1 |
2 |
|
Total
Assets |
|
|
1,150 |
1,096 |
1,118 |
|
Current
Assets |
|
|
823 |
773 |
|
|
Current
Liabs |
|
|
475 |
386 |
|
|
Net
Worth |
|
|
544 |
545 |
544 |
|
Capital,
Paid-Up |
|
|
27 |
27 |
27 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.96 |
-1.97 |
1.35 |
-10.00 |
|
Current Ratio |
|
.. |
173.26 |
200.26 |
.. |
|
N.Worth Ratio |
|
.. |
47.30 |
49.73 |
48.66 |
|
R.Profit/Sales |
|
0.68 |
-0.43 |
-0.49 |
.. |
|
N.Profit/Sales |
|
0.34 |
-0.07 |
0.07 |
0.24 |
|
Return On Equity |
|
.. |
-0.18 |
0.18 |
0.37 |
Notes: The 31/03/2012 fiscal term is for
irregular 7 months due to change in accounting term. Growth rates are adjusted
on a regular 12-month basis.
Forecast (or estimated)
figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
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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 |
|
|
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.