REVISED REPORT
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Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
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Name : |
TAMAGAWA SOLAR SYSTEMS CO LTD |
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Registered Office : |
Hamamatsucho Place 1F, 1-6-15 Hamamatsucho Minatoku Tokyo 105-0013 |
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Country : |
Japan |
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Date of Incorporation : |
February 2013 |
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Com. Reg. No.: |
0210-01-050049 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of photovoltaic (FV)
power systems |
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No. of Employees : |
15 (About) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New company |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Japan |
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 |
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
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Source
: CIA |
TAMAGAWA SOLAR SYSTEMS CO LTD
REGD NAME: KK
Tamagawa Solar Systems
MAIN OFFICE: Hamamatsucho
Place 1F, 1-6-15 Hamamatsucho Minatoku Tokyo 105-0013
JAPAN
Tel:
03-6435-6933 Fax: 03-6435-6934
URL: http://www.tmex.co.jp
(of the parent, Tamagawa Holdings Co Ltd)
E-Mail
address: (thru the URL)
Wholesale
of photovoltaic (FV) power systems
Shimonoseki
Shimonoseki
(Plant)
YASUHIKO
NOGUCHI, PRES
Tohru
Masuzawa, dir
Naruhito
Kusaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 834 M*
PAYMENTSUNKNOWN
CAPITAL Yen 10 M
TREND UNDETD WORTH Yen --- M
STARTED 2013 EMPLOYES 15 (ABOUT)
*.
Reported by the parent for 3 months (Apr/Jun/2014)
TRADING FIRM SPECIALIZING IN
SOLAR POWER SYSTEMS, OWNED
BY TAMAGAWA HOLDINGS CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject
company was established on the basis of a division separated from Tamagawa
Holdings Co Ltd (See REGISTRATION). This is a trading firm (virtually an
intra-company) for import and wholesale specializing in photovoltaic power
systems, other. The mfg plant is located
at Shimonoseki, Yamaguchi-Pref, completed in Nov 2013. Goods are all shipped to the parent for
sales.
The parent,
Tamagawa Holdings Co Ltd reports for Solar System Business as follows:
(Mar/2014 fiscal term): Sales Yen 4,171
million (up 13.6%), operating profit Yen 477 million (up 27.8%), recurring
profit Yen 478 million (up 27.6%), net profit Yen 436 million (up 28.5%).
(Apr/Jun/2014 results): Sales Yen 834
million (down 8.7%), operating profit Yen 57 million (down 35.8%), recurring
profit Yen 56 million (down 40.8%), net profit Yen 25 million (down 71.1%). (% as
compared with the corresponding period a year ago).
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Feb 2013
Regd No.: 0210-01-050049 (Tokyo-Minatoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
300 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Tamagawa Holdings Co Ltd* (100)
*.. Mfr of
high-frequency circuit devices, at the caption address, founded 1970, listed JASDAQ
(Tokyo), capital Yen 1,625 million, sales Yen 4,171 million, operating profit
Yen 477 million, recurring profit Yen
472 million, net profit Yen 436 million, total assets Yen 4,210 million, net
worth Yen 2,632 million, employees 136, pres Tooru Masuzawa
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
photovoltaic (PV) power systems, parts & components, others (--100%)
Clients: Tamagawa Holdings Co Ltd
No. of
accounts: 1 (for distribution nationwide)
Domestic
areas of activities: Nationwide
Payment record: Unknown
Location:
Business area in Tokyo. Office premises
at the caption address are owned by the parent, Tamagawa Holdings Co Ltd and
maintained satisfactory.
Bank References:
Mizuho
Bank (Yamato)
MUFG
(Yamato)
Relations:
Satisfactory
FINANCES (In Million Yen)
NOT YET MADE AVAILABLE
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.62 |
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1 |
Rs.99.12 |
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Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
PDT |
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 |
-- |
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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.