MIRA INFORM REPORT

 

 

Report Date :

10.10.2014

 

IDENTIFICATION DETAILS

 

Name :

PACIFIC CONSULTANTS CO LTD

 

 

Registered Office :

Keio Seiseki C Bldg, 1-7-5 Sekido Tama City Tokyo-Metrop 206-8550

 

 

Country :

Japan   

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

February 1954

 

 

Com. Reg. No.:

0134-01-001509 (Tokyo-Tama)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Construction engineering consultant covering engineering works for: river, erosion control, coastal & ocean, harbor, road & highways, railway, water supply, sewage, fisheries, wastes, landscaping & gardening, urban planning & regional planning, geological, soil & foundation, steel structure & concrete, tunnel, construction planning & cost estimates, machinery, hospitals, other

 

 

No of Employees :

1,531

 

 

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 1,218.0 million

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

COMPANY NAME

 

PACIFIC CONSULTANTS CO LTD

 

 

REGD NAME 

 

Pacific Consultants KK

 

 

MAIN OFFICE

 

Keio Seiseki C Bldg, 1-7-5 Sekido Tama City Tokyo-Metrop 206-8550 JAPAN

Tel: 042-372-0111     

Fax: 042-338-1681

 

URL:                  http://www.pacific.co.jp

E-Mail address:  (thru the URL)

 

ACTIVITIES:        Construction engineering consultant

BRANCHES:          48 locations nationwide

 

OFFICERS:          SHIGETOMO TAKAGI, PRES     Shin’ichi Hasegawa, ch

                        Hiroshi Watanabe, s/mgn dir       Tatsuyuki Negishi, mgn dir

                        Shigefumi Ito, mgn dir                 Kiyoshi Agata, dir

                       

Yen Amount:    In million Yen, unless otherwise stated

 

 

SUMMARY          

 

FINANCES        FAIR                             A/SALES          Yen 37,381 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 490 M

TREND             UP                                WORTH                        Yen 9,541 M     

STARTED         1954                             EMPLOYES      1,531

 

 

COMMENT

 

CONSTRUCTRION ENGINEERING CONSULTANT.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY

BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: ESTIMATED AT YEN 1,218.0 MILLION, ON 30 DAYS

NORMAL TERMS.

 

 

HIGHLIGHTS

           

The subject company was established by Fukujiro Hirayama originally in 1951, on his account, in order to make most of his experience in the subject line of business.  Incorporated in 1954, the firm has been succeeded by the present executives.  Shigetomo Takagi took the pres office in Sept 2014.  This is a construction engineering consultant offering engineering technologies for: river, harbor, railway, sewage, landscaping, other (See OPERATION).  Eagerly advancing into medical, welfare, environmental energy systems, other.  Clients include Ministry of Land, Infrastructure and Transport, local municipalities, Japan Railway, general contractors, other, nationwide

 

 

FINANCIAL INFORMATION

           

The sales volume for Sept/2013 fiscal term amounted to Yen 37,381 million, a 16% up from Yen 32,145 million in the previous term.  Work & demand rose after the North Japan Earthquake and other disasters.  The recurring profit was posted at Yen 1,834 million and the net profit at Yen 1,081 million, respectively, compared with Yen 1,082 million recurring profit and Yen 727 million net profit, respectively, a year ago.

 

For the term that ended Sept 2014 the recurring profit was projected at Yen 1,950 million and the net profit at Yen 1,200 million, respectively, on a 7% rise in turnover, to Yen 40,000 million.  Final results are yet to be released.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 1,218.0 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:                      Feb 1954

Regd No.:                                 0134-01-001509 (Tokyo-Tama)

Legal Status:                           Limited Company (Kabushiki Kaisha)

Authorized:                              4 million shares

Issued:                                     1.04 million shares

Sum:                                        Yen 490 million

Major shareholders (%):           Pacific Consultants International Group Co Ltd* (100)

 

*.. Pacific Group Holding Company, at the caption address, founded 2000, capital Yen  820 million, sales Yen 712 million, net profit Yen 170 million, employees 11, pres Shin’ichi Hasegawa

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Construction engineering consultant covering engineering works for: river, erosion control, coastal & ocean, harbor, road & highways, railway, water supply, sewage, fisheries, wastes, landscaping & gardening, urban planning & regional planning, geological, soil & foundation, steel structure & concrete, tunnel, construction planning & cost estimates, machinery, hospitals, other (--100%)

 

Clients: [Mfrs, wholesalers] Ministry of Land, Infrastructure and Transport, local municipalities, JR companies, developers, general constructors, other. 

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] BCE, PIT, Pacific Repro Services, Techno Tohoku, Pacific Tsukuba Research, other

 

Payment record: No Complaints

 

Location: Business area in Tama City, Tokyo-Metrop.  Office premises at the caption address are leased and maintained satisfactory.

 

Bank References:

 

MUFG (Omotesando)

Mizuho Bank (Shinjuku-Chuo)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

 

       Terms Ending:

30/09/2014

30/09/2013

30/09/2012

30/09/2012

Annual Sales

　

40,000

37,381

32,145

28,539

Recur. Profit

　

1,950

1,834

1,062

814

Net Profit

　

1,200

1,081

727

902

Total Assets

　

　

20,799

20,275

18,331

Current Assets

　

　

17,489

17,101

　

Current Liabs

　

　

10,748

11,225

　

Net Worth

　

　

9,541

8,521

7,930

Capital, Paid-Up

　

　

490

490

490

Div.P.Share(¥)

　

　

100.00

100.00

100.00

<Analytical Data>

　

(%)

(%)

(%)

(%)

    S.Growth Rate

　

7.01

16.29

12.64

-27.92

    Current Ratio

　

..

162.72

152.35

..

    N.Worth Ratio

　

..

45.87

42.03

43.26

    R.Profit/Sales

　

4.88

4.91

3.30

2.85

    N.Profit/Sales

　

3.00

2.89

2.26

3.16

    Return On Equity

　

..

11.33

8.53

11.37

 

Notes: Forecast (or estimated) figures for the 30/09/2014 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.04

UK Pound

1

Rs.98.64

Euro

1

Rs.77.74  

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SMN

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.