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Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
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Name : |
IZUMI PRODUCTS COMPANY |
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Registered Office : |
3039 Sasaga Matsumoto City Nagano-Pref 399-0033 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
June 2010 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of machine tools (cable
& wire cutting & connecting tools) |
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No. of Employees : |
340 |
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 |
|
Maximum Credit Limit : |
Yen 386.2 Million |
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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 |
IZUMI PRODUCTS COMPANY
REGD NAME: KK
Izumi Seiki Seisakusho
MAIN OFFICE: 3039
Sasaga Matsumoto City Nagano-Pref 399-0033 JAPAN
Tel: 0263-58-4115 Fax: 0263-86-4019
URL: http://www.izumi-products.co.jp
E-Mail address: (thru the URL)
Mfg of machine
tools (cable & wire cutting & connecting tools)
Tokyo, Osaka,
Nagoya
At the caption
address
JUICHIRO SHIMA,
PRES Tomohiro Nakano, dir
Mikihiro Ootomo,
dir Naohiro Tada, dir
Kiyoto Koyama, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 12,045 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 250 M
TREND UP WORTH Yen 750 M
STARTED 2010 EMPLOYES 340
MFG OF CABLE/WIRE CUTTING MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 386.2
MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established on the basis of reactivating the
previous company (by the same name).
This is a specialized mfr of wire & cable cutting, connecting
machines. Goods are exported. Clients include major machine tool makers,
other.
The sales volume for Mar/2014 fiscal term amounted to Yen 12,045
million, an 11% up from Yen 10,085 million in the previous term. The recurring profit was posted at Yen 151
million and the net profit at Yen 147 million, respectively, compared with Yen
688 million recurring profit and Yen 437 million net profit, respectively, a
year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 170 million and the net profit at Yen 160 million, respectively, on a 4%
rise in turnover, to Yen 12,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 386.2 million, on 30 days normal terms.
Date Registered: Jun
2010
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 27,200 shares
Issued: 6,800 shares
Sum: Yen 750 million
Major
shareholders (%): WT-1go Investment Assn, Japan, DBI, other (Breakdown unavailable)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
wire & cable cutting, connecting machines, other (--100%)
Clients: [Mfrs,
wholesalers] Spectrum Brands Japan, Seiko Sports Life, Sun Star, Makita,
other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ryosan Corp, Chihara Trading, other
Payment record: No complaints
Location: Business area in
Matsumoto, Nagano-Pref. Office premises
at the caption address are owned and maintained satisfactory.
Bank References:
Resona (Tokyo)
DBI (H/O)
Relations: Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
12,500 |
12,045 |
10,805 |
11,653 |
|
Recur.
Profit |
|
170 |
151 |
688 |
646 |
|
Net
Profit |
|
160 |
147 |
437 |
439 |
|
Total
Assets |
|
|
9,014 |
7,469 |
6,990 |
|
Current
Assets |
|
|
6,572 |
5,541 |
5,684 |
|
Current
Liabs |
|
|
3,528 |
2,204 |
1,408 |
|
Net
Worth |
|
|
3,898 |
3,750 |
3,313 |
|
Capital,
Paid-Up |
|
|
750 |
750 |
750 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.78 |
11.48 |
-7.28 |
55.00 |
|
Current Ratio |
|
.. |
186.28 |
251.41 |
403.69 |
|
N.Worth Ratio |
|
.. |
43.24 |
50.21 |
47.40 |
|
R.Profit/Sales |
|
1.36 |
1.25 |
6.37 |
5.54 |
|
N.Profit/Sales |
|
1.28 |
1.22 |
4.04 |
3.77 |
|
Return On Equity |
|
.. |
3.77 |
11.65 |
13.25 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
|
|
1 |
Rs.98.00 |
|
Euro |
1 |
Rs.76.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
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 |
|
|
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.