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Report Date : |
19.11.2014 |
IDENTIFICATION DETAILS
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Name : |
TESS ENGINEERING CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
May 1979 |
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Com. Reg. No.: |
1200-01-056993 (Osaka-Yodogawaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is engaged in Engineering of energy-saving systems: solar
power system, biomass power system, fuel conversion system, gas cogeneration
system (diesel, gas, gas turbine, boiler turbine), carbon management, waste
water treatment system, RPF boiler, anti-air pollution system,
air-conditioning systems, uninterruptible power supply (UPS), micro gas
turbine, 24-hour watch systems, other |
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No of Employees : |
158 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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.
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Source
: CIA |
TESS ENGINEERING CO LTD
REGD NAME: Tess
Engineering KK
MAIN OFFICE: Shin-Osaka
Prime Tower 17F, 6-1-1 Nishi-Nakajima Yodogawaku Osaka
531-0011 JAPAN
Tel: 06-6308-2073
Fax: 06-6308-0948
URL: http://www.tess-eng.co.jp
E-Mail address: (thru the URL)
Engineering of energy-saving
systems (photovoltaic power systems, Cogeneration systems)
Osaka Governor
#75638 (construction works/machinery installation works),
#23366
(architectural firm)
Tokyo, Nagoya,
Hiroshima, Fukuoka, Sendai, Sapporo
(subcontracted to
subsidiary firm)
HIDEO IISHIWAKI,
PRES Katrsushige Fujii, mgn dir
Kazuki Yamamoto,
dir Tsutomu Watari, dir
Toyoharu Iida, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 41,822 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
100 M
TREND UP WORTH Yen 6,039 M
STARTED 1979 EMPLOYES 158
ENGINEERING COMPANY OF SOLAR SYSTEMS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established originally in 1973 by Masayuki Ishiwaki, on his
account, and was incorporated in 1979.
Hideo is his son, who took the pres office in July 2009. This is an engineering company specializing
in energy-saving systems: cogeneration systems, biomass power systems,
photovoltaic (PV) power systems, solar shells, solar power systems, other (See OPERATION). In Apr 2014 the firm founded a subsidiary,
Intelligent Solar System Co Ltd, to concentrate on solar generation systems. Products are exported thru general trading
houses. Clients include major general
trading houses for import/export businesses.
The sales volume
for Jun/2014 fiscal term amounted to Yen 41,822 million, an 85% up from Yen 22,586
million in the previous term. Solar
power systems & solar shells were in much demand and sales expanded. Electric power buying system also contributed
to raise earnings. The recurring profit
was posted at Yen 2,622 million and the net profit at Yen 1,866 million,
respectively, compared with Yen 950 million recurring profit and Yen 809
million net profit, respectively, a year ago.
For the current
term ending Jun 2015 the recurring profit is projected at Yen 2,700 million and
the net profit at Yen 2,000 million, respectively, on a 5% rise in turnover, to
Yen 44,000 million. Business is seen
expanding steadily.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May 1979
Regd No.:
1200-01-056993
(Osaka-Yodogawaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued: 200,000
shares
Sum: Yen
100 million
Major shareholders (%): Tess
Techno Service Co (66.7), Founder’s family, Executives’ S/Holding Assn, other
(33.3)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Engineering of energy-saving
systems: solar power system, biomass power system, fuel conversion system, gas
cogeneration system (diesel, gas, gas turbine, boiler turbine), carbon
management, waste water treatment system, RPF boiler, anti-air pollution
system, air-conditioning systems, uninterruptible power supply (UPS), micro gas
turbine, 24-hour watch systems, other (--100%)
Clients: [Mfrs,
wholesalers] Creative Techno Solution, Orix Corp, Sumitomo Corp, Mitsui &
Co, Toyota Tsusho Corp, Sojitz Corp, ENE-Vision Co, Mitsui Plant Systems,
other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Heavy Ind, Yanmar Energy System Co, Daihatsu Diesel,
Takuma Co, Niigata Power Systems Co, Kyocera Corp, Terasaki Electric Co, Miura
Co, Minatohama Co, Main Marine Co, Takuma Co, Niigata Power Systems Co, other
Payment
record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are
leased and maintained satisfactorily.
Bank
References:
MUFG (Juso)
Resona Bank
(Shin-Osaka-Ekimae)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
30/06/2015 |
30/06/2014 |
30/06/2013 |
30/06/2012 |
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Annual
Sales |
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44,000 |
41,822 |
22,586 |
14,816 |
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Recur.
Profit |
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2,700 |
2,622 |
950 |
182 |
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Net
Profit |
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2,000 |
1,866 |
809 |
188 |
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Total
Assets |
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19,979 |
14,704 |
6,941 |
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Current
Assets |
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14,357 |
12,682 |
5,586 |
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Current
Liabs |
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11,904 |
9,616 |
2,768 |
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Net
Worth |
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6,039 |
4,173 |
3,363 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.21 |
85.17 |
52.44 |
21.97 |
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Current Ratio |
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.. |
120.61 |
131.88 |
201.81 |
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N.Worth Ratio |
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.. |
30.23 |
28.38 |
48.45 |
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R.Profit/Sales |
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6.14 |
6.27 |
4.21 |
1.23 |
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N.Profit/Sales |
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4.55 |
4.46 |
3.58 |
1.27 |
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Return On Equity |
|
.. |
30.90 |
19.39 |
5.59 |
Notes: Forecast
(or estimated) figures for the 30/06/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.81 |
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1 |
Rs.96.77 |
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Euro |
1 |
Rs.77.09 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SMN |
RATING EXPLANATIONS
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.