|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
NIPPON AUTOMATIC CONTROL COMPANY |
|
|
|
|
Registered Office : |
Shin-Osaki Kangyo Bldg 15F, 1-6-4 Osaki Shinagawaku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
January 1952 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Imports & wholesales automatic control systems, LNG composition analyzers,
LNG tank measuring systems, cryogenic temperature sensors, aircraft
temperature probes, other scientific system (--100%) |
|
|
|
|
No of Employees : |
75 |
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 142.9 Million |
|
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 |
NIPPON AUTOMATIC
CONTROL COMPANY
Nippon Automatic Control KK
Shin-Osaki Kangyo Bldg 15F, 1-6-4 Osaki Shinagawaku Tokyo 141-0032 Japan
Tel: 03-5434-1600
Fax: 03-5434-1630
URL: http//:www.nacc.com
E-mail: (thru
the URL)
ACTIVITIES: import, wholesale of automatic control
system & equipment
BRANCHES: Osaka, Nagoya, Yamaguchi
OVERSEAS: Shanghai, Hong Kong
FACTORIES: Hino (service Center)
OFFICER(S): YOSHIFUMI KONDOH, PRES Yoshiyo Kondoh, s/mgn dir
Hiroshi Sotobori, dir Yoko
Kondoh, dir
Yen Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,979 M
PAYMENTS Slow But Correct CAPITAL Yen 15 M
TREND UP WORTH Yen 6,979 M
STARTED 1952 EMPLOYES 75
COMMENT: IMPORTER & WHOLESALER SPECIALING IN AUTOMATIC CONTROL SYSTEMS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 142.9 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by father of Kazumi Kondoh in order to import automatic control systems from USA. Now handles LNG composition analyzers, LNG tank measuring systems, cryogenic temperature sensors, aircraft temperature probes, Goods are imported centrally from USA, other from Europe, Netherlands, other.
The sales volume for Dec/2013 fiscal term amounted to Yen 6,979 million, a 30% up from Yen 5,349 million in the previous term. Large lot demand was created, plus the weakness of the Yen helped raise earnings in Yen terms. The recurring profit was posted at Yen 319 million and the net profit at Yen 42 million, respectively, compared with Yen 399 million recurring profit and Yen 99 million, respectively, a year ago. .
For the current term ending Dec 2014 the recurring profit is projected at Yen 930 million and the net profit at Yen 100 million, respectively, on a 5% rise in turnover, to Yen 7,300 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 142.9 million, on 30 days normal terms.
Date Registered: Jan 1952
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 30,000 shares
Sum: Yen 15 million
Major shareholders
(%):
Yoshifumi Kondoh (46.3), Yoshiyo Kondoh (17.6), Kazumi Kondoh (8.3)
No. of
shareholders: 16
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports &
wholesales automatic control systems, LNG composition analyzers, LNG tank
measuring systems, cryogenic temperature sensors, aircraft temperature probes,
other scientific system (--100%),
Clients: [Mfrs,
wholesalers] Makita Corp (20%), Toyota Motor, Mitsubishi Electric, Mitsubishi
Electric Trading, Honda Motor, Mitsubishi Heavy Ind, Denso Corp, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Amplifier Research, Cryogenic Ltd, Bio Technology, Toabo
Corporation, other.
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Gotanda)
Resona Bank (Shimbashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual Sales |
|
7,300 |
6,979 |
5,349 |
5,400 |
|
Recur. Profit |
|
430 |
319 |
399 |
|
|
Net Profit |
|
100 |
42 |
99 |
53 |
|
Total Assets |
|
|
3,923 |
3,122 |
2,955 |
|
Current Assets |
|
|
3,295 |
2,560 |
|
|
Current Liabs |
|
|
2,576 |
1,962 |
|
|
Net Worth |
|
|
1,097 |
1,057 |
959 |
|
Capital, Paid-Up |
|
|
15 |
15 |
15 |
|
Div.Ttl in Million (¥) |
|
|
1.5 |
1.5 |
1.5 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.60 |
30.47 |
-0.94 |
26.20 |
|
Current Ratio |
|
.. |
127.91 |
130.48 |
.. |
|
N.Worth Ratio |
|
.. |
27.96 |
33.86 |
32.45 |
|
R.Profit/Sales |
|
5.89 |
4.57 |
7.46 |
.. |
|
N.Profit/Sales |
|
1.37 |
0.60 |
1.85 |
0.98 |
|
Return On Equity |
|
.. |
3.83 |
9.37 |
5.53 |
Notes: Forecast (or estimated) figures for the 31/12/2014 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.