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Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
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Name : |
AIRMATIK CO LTD |
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Registered Office : |
TL Bldg, 1-30-15 Takadanobaba Shinjukuku Tokyo 169-0075 |
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Country : |
Japan |
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Date of Incorporation : |
March 1983 |
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Com. Reg. No.: |
0110-01-002799 (Tokyo-Shinjukuku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of air humidifiers, freezers, other |
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No of Employees : |
25 |
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 : |
Unknown |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
In absence of financials, no credit limit could be recommended.
AIRMATIK CO LTD
REGD NAME: Airmatik
KK
MAIN OFFICE: TL Bldg,
1-30-15 Takadanobaba Shinjukuku Tokyo 169-0075 JAPAN
Tel:
03-3209-8191 Fax: 03-3209-3170
*.. The is its Branch
Office and the above is registered address
URL: http://www.airmatik.co.jp
E-Mail address: (thru the URL)
Mfg of air
humidifiers freezers, other
Tokyo (as
mentioned)
Germany (Business
partner)
Mito (Ibaraki)
NORIYOSHI
TAKAHASHI, PRES
Takuro Nozawa, dir
Toshihide Ueno,
dir
Date
Registered: Mar
1983
Regd No.:
0110-01-002799
(Tokyo-Shinjukuku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 128,000
shares
Issued: 32,000
shares
Sum: Yen
16 million
Major
shareholders (%): Noriyoshi Takahashi, other (Details not disclosed)
Nothing
detrimental is known as to the commercial morality of executives.
This is a specialized mfr of freezers, air
humidifiers, other. Originally started
as tie-up with a German mfr, Higromatik GmbH and now makes these products at
its own factory in Mito. Financials are
not disclosed. The number of employees are
25. The information on the company
management and operations is limited only to the extent we outline herein, plus
the information obtained from the Registration Certificate.
Activities: Manufactures air
humidifiers, freezers, other (--100%)
Clients: [Mfrs,
wholesalers] Shinko Industries Ltd, Toyo Engineering Works, Takasago Thermal
Engineering Co, Tonets Corp, Shinryo Corp, Kyokuto Shokai Co, other
No. of accounts: 250
Domestic areas of
activities: Centered in the
Greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Higromatik GmbH (Germany), other
Payment record: Unknown
Location: Business area
in Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Mizuho Bank
(Takadanobaba)
Relations:
Satisfactory
(In Million Yen)
NOT DISCLOSED AND UNAVAILABLE.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.45 |
|
|
1 |
Rs.97.76 |
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Euro |
1 |
Rs.76.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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Report Prepared
by : |
SMN |
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 |
|
<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.