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Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MARUMI OPTICAL CO LTD |
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Registered Office : |
NSK Bldg 6F, 1-21-8 Tabata Kitaku Tokyo 114-0014 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
November 1952 |
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Com. Reg. No.: |
0115-01-004466 (Tokyo-Kitaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures camera filters for digital single-lens reflex cameras,
flash guns, flash rings, tripods, strap, lens hood, LCD panel guard, other |
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No of Employees : |
69 |
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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Maximum Credit Limit : |
Yen 33.3 million |
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Status : |
Moderate |
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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 |
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Moderate |
B1 |
|
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 |
MARUMI OPTICAL CO LTD
Marumi Koki KK
NSK Bldg 6F, 1-21-8
Tabata Kitaku Tokyo 114-0014 JAPAN
Tel:
03-3828-8888
Fax: 03-3822-0466
URL: http://www.marumi-filter.co.jp
E-Mail address: Tokyo@marumi-filter.co.jp
ACTIVITIES: Mfg
of camera filters
BRANCHES: Tokyo,
Osaka
FACTORIES: Nagano
OFFICERS: MARIKO
YORISHIMA, PRES Masako Yorishima, ch
Haruyasu Ichikawa,
dir Yutaka Karasawa, dir
Sugiyo Sakata, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,804 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 20 M
TREND SLOW WORTH Yen 972 M
STARTED 1952 EMPLOYES 69
MFR OF CAMERA FILTERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 33.3 MILLION, 30 DAYS NORMAL TERMS
The subject company
was established originally in 1937 by Matsutaro Yorishima, on his account, for
making camera filters. Incorporated in
1952 the firm has been succeeded by his descendants. This is a specialized mfr of camera filters
for digital single-lens reflex cameras and accessories. Goods are exported. Clients include camera makers, camera shops,
other.
Financials are
only partially disclosed.
The sales volume
for Sept/2013 fiscal term amounted to Yen 1,804 million, a 16% down from Yen
2,143 million in the previous term.
Exports were hurt by the high Yen, decreasing earnings and profits in
Yen terms. Further, exports amount
decreased. The net profit was posted at
Yen 160 million, compared with Yen 89 million a year ago.
For the term that
ended Sept 2014 the net profit was projected at Yen 170 million, on a 5% rise
in turnover, to Yen 1,900 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 33.3
million, on 30 days normal terms.
Date Registered: Nov 1952
Regd No.:
0115-01-004466
(Tokyo-Kitaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 150,000
shares
Issued: 40,000
shares
Sum: Yen
20 million
Major shareholders
(%): Mariko Yorishima (40),
Eiko Yorishima (39), Masako Yorishima (12), Kuniko Noguchi (7)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
camera filters for digital single-lens reflex cameras, flash guns, flash rings,
tripods, strap, lens hood, LCD panel guard, other (--100%)
Clients: [Mfrs,
wholesalers] Asanuma & Co, Bic Camera, Kitamura, Fujiya Camera, Kaga
High-Tech, other
Exports to overseas.
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Makers,
wholesalers] OMG Corp, Kobayashi Kogyo Co, Optical Ryuto, Okazaki Techno Glass
Co, Tokai Optical Kogyosho, other
Payment
record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Nezu)
MUFG (Sugamo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
Annual
Sales |
|
1,900 |
1,804 |
2,143 |
2,288 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
170 |
160 |
89 |
109 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
972 |
860 |
771 |
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Capital,
Paid-Up |
|
|
20 |
20 |
20 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.32 |
-15.82 |
-6.34 |
10.80 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
8.95 |
8.87 |
4.15 |
4.76 |
Notes: Financials
are only partially disclosed.
Forecast (or estimated)
figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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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 |
|
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 |
|
-- |
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.