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Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
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Name : |
TANABE PNEUMATIC MACHINERY CO LTD |
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Registered Office : |
2-14-6 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
December 1961 |
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Com. Reg. No.: |
1209-01-009662 (Osaka-Settsu) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures air/gas compressors, machinery parts washing machines,
others |
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No of Employees : |
160 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 74.2 million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 |
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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.
|
Source
: CIA |
TANABE PNEUMATIC
MACHINERY CO LTD
REGD NAME: KK Tanabe Kuuki Kikai Seisakusho
MAIN OFFICE: 2-14-6 Senrioka Settsu City Osaka-Pref
566-0001 JAPAN
Tel:
06-6388-1339 Fax: 06-6380-8560
URL: http://www.tanacomp.co.jp
E-Mail address: info@tanacomp.co.jp
Mfg of compressors, compressor devices
Tokyo, Fukuoka
Komaki (Aichi-Pref)
TERU TANABE, PRES Jun
Tanabe, adv
Shigeru Tanabe, dir Seizo
Tsuneta, dir
Koichiro Inagaki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 3,888 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 60 M
TREND SLOW WORTH Yen 1,101 M
STARTED 1961 EMPLOYES 160
MFR OF COMPRESSORS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 74.2 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Jun Tanabe, now advisor, in order
to make most of his experience in the subject line of business. Teru is his son, who took the pres office in
Mar 2010. This is a specialized mfr of
compressors, compressor devices, other.
Goods are exported. Clients
include major heavy machinery makers, shipbuilders, Ministry of Defense, other,
nationwide.
The sales volume for Dec/2013 fiscal term amounted to Yen 3,888 million,
a 12% down from Yen 4,421 million in the previous term. Demand continued downward from
shipbuilders. The recurring profit was
posted at Yen 430 million and the net profit at Yen 247 million, respectively,
compared with Yen 491 million recurring profit and Yen 290 million net profit,
respectively, a year ago.
For the current term ending Dec 2014 the recurring profit is projected
at Yen 450 million and the net profit at Yen 260 million, respectively, on a 5%
rise in turnover, to Yen 4,100 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 74.2 million, on 30 days normal terms.
Date Registered: Dec
1961
Regd No.: 1209-01-009662
(Osaka-Settsu)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 480,000 shares
Issued:
120,000 shares
Sum: Yen
60 million
Major shareholders
(%): Union Shoji KK (48.8),
Makoto Tanabe (7.5), Jun Tanabe
(6.3), Tanabe
Compressor KK (5.5)
No. of
shareholders: 19
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
air/gas compressors, machinery parts washing machines, others (--100%)
Clients: [Mfrs,
wholesalers] Mitsui Engineering & Shipbuilding Ind, Mitsubishi Heavy Inv,
Japan Marine United, Nissei ASB Machine, Imabari Shipbuilding Co, Ministry
Defense, Izumi Steel Works, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hoerbiger Japan, Tanabe Pressure Vessel Co, Kawaguchi Nainenki
Castings Co, Saginomiya Seisakusho Inc, Taiyo Shokai Corp, Takeuchi Mfg Co,
other
Payment record: Slow but correct
Location: Business area in
Settsu City, Osaka-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Suita)
MUFG (Osaka-Ekimae)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual Sales |
|
4,100 |
3,888 |
4,421 |
5,516 |
|
Recur. Profit |
|
450 |
430 |
491 |
433 |
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Net Profit |
|
260 |
247 |
290 |
74 |
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Total Assets |
|
|
4,001 |
4,220 |
4,762 |
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Current Assets |
|
|
3,052 |
959 |
1,084 |
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Current Liabs |
|
|
771 |
1,025 |
1,040 |
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Net Worth |
|
|
1,101 |
864 |
563 |
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Capital, Paid-Up |
|
|
60 |
60 |
60 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.45 |
-12.06 |
-19.85 |
29.97 |
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Current Ratio |
|
.. |
395.85 |
93.56 |
104.23 |
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N.Worth Ratio |
|
.. |
27.52 |
20.47 |
11.82 |
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R.Profit/Sales |
|
10.98 |
11.06 |
11.11 |
7.85 |
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N.Profit/Sales |
|
6.34 |
6.35 |
6.56 |
1.34 |
|
Return On Equity |
|
.. |
22.43 |
33.56 |
13.14 |
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 |
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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 |
|
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 |
|
<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.