|
Report Date : |
17.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
MDI CORPORATION |
|
|
|
|
Registered Office : |
3-12-10 Asada Kawasakiku Kawasaki City Kanagawa-Pref 210-0847 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.08.2014 |
|
|
|
|
Date of Incorporation : |
December 2005 |
|
|
|
|
Com. Reg. No.: |
0200-01-077359 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufactures of plate heat exchangers, cooling towers, heat
pump chillers, dynamic escapers, scale/titanium/aluminum liquid coolants. |
|
|
|
|
No. of Employees : |
8 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 |
MDI CORPORATION
REGD NAME: MDI KK
MAIN OFFICE: 3-12-10 Asada Kawasakiku Kawasaki City
Kanagawa-Pref 210-0847 JAPAN
Tel: 044-201-6822
Fax:
044-201-2122
*..
Registered at: 2-13-1 Watarida Higashicho Kawasaki City
URL: http//:www.mdirect.jp
E-mail: accept@mdirect.jp
ACTIVITIES: Mfg of heat exchangers, cooling
towers, liquid coolant, other
BRANCHES: Nil
FACTORIES: At the caption address
OFFICER(S): KENJI IWASAWA, PRES
Hideo
Iwasawa, dir
Atsushi
Adachi, dir
Yen
Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 320 M
PAYMENTSSLOW
BUT CORRECT CAPITAL Yen 10 M
TREND STEADY WORTH Yen 98 M
STARTED 2005 EMPLOYES 8
MFR
SPECIALIZING IN HEAT EXCHANGERS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established
by Kenji Iwasawa in order to make most of his experience in the subject line of
business. This is a specialized mfg of
heat exchangers, cooling towers, liquid coolant, heat pump chillers, other. Goods are exported. Clients include major steel mfrs, chemical
mfrs, other, nationwide.
Financials are only partially disclosed.
The sales volume for Aug/2013 fiscal term amounted to Yen
320 million, a 14% up from Yen 280 in the previous term. Exports were robust. The net profit was posted at Yen 10 million,
compared with Yen 8 million a year ago.
For the term that ended Aug 2013 the net profit was
projected at Yen15 million, on a 6% rise in turnover, to Yen 340 million. Final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered:
Dec 2005
Regd No.: 0200-01-077359
(Kawasaki-Higashicho)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200 shares
Sum: Yen
10 million
Major shareholders (%): Kenji Iwasawa (100)
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Manufactures: plate heat exchangers, cooling towers, heat
pump chillers, dynamic escapers, scale/titanium/aluminum liquid coolants, other
(--100%)
Clients:
[Steel mfrs, chemical mfrs, wholesalers] Nippon Steel Corp,
Nippon Steel Chemicals, Mitsui Chemical, Hitachi Appliance, IHI Corp,
Mitsubishi Heavy Ind, Hitachi-Kucho SE Ltd, Hachiyo Engineering Corp, other
Goods are exported to China, other S/E Asian countries
No. of accounts: 200
Domestic areas of activities: Centered in greater-Tokyo
Suppliers:
[Mfrs, wholesalers] Precision Dynamics Corp, TERRA Cooling Tower,
Tokyo Titanium Co, Hamada Kogyo Co, Hachiyo Engineering Corp, other
Slow
But Correct
Business area in Kawasaki.
Office premises at the caption address are leased and maintained
satisfactorily.
SMBC (Kawasaki)
Bank
of Yokohama (Oshima)
Relations:
Satisfactory
(In Million Yen)
|
|
|
31/08/2014 |
31/08/2013 |
31/08/2012 |
31/08/2011 |
|
Annual Sales |
|
340 |
320 |
280 |
220 |
|
Recur. Profit |
|
|
|
|
|
|
Net Profit |
|
15 |
10 |
8 |
5 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
98 |
88 |
80 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.25 |
14.29 |
27.27 |
-15.38 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
4.41 |
3.13 |
2.86 |
2.27 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/08/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.65 |
|
|
1 |
Rs.96.54 |
|
Euro |
1 |
Rs.76.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
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.