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Report Date : |
11.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADO CO LTD |
|
|
|
|
Registered Office : |
129 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
|
Year of Establishment : |
1947 |
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|
|
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Com. Reg. No.: |
1800-01-092376 (Aichi-Obu) |
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|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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|
|
|
Line of Business : |
Manufacturer of Auto Parts and Accessories |
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|
|
|
No of Employees : |
12 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
ADO CO LTD
REGD NAME: Ado
KK
MAIN OFFICE: 129
Ida Kitasakicho Obu City Aichi-Pref 474-0001 JAPAN
Tel: 0562-48-7137
Fax: 0562-45-6045
URL: http://www.e-ado.co.jp
E-Mail address: (thru the URL)
Mfg of auto parts
& accessories
Tochigi, Saitama
At the caption
address
HIROAKI YAMAMOTO,
PRES Yoshiaki Katagiri, dir
Katsuaki Kimura,
dir Nobuaki Kimura dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,132 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 10 M
TREND SLOW WORTH Yen 244 M
STARTED 1986 EMPLOYES 12
MFR OF AUTO PARTS & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1947 and was
incorporated in 1986. This is a
specialized mfr of auto parts & accessories, belonging to Tokai Group,
Kasei Kogyo Co Ltd (See REGISTRATION).
Clients include major carmakers.
The sales volume for Dec/2013 fiscal term amounted to Yen 1,132 million,
a 9% down from Yen 1,250 million in the previous term. The recurring profit was posted at Yen 28
million and the net profit at Yen 43 million, respectively, compared with Yen
81 million recurring profit and Yen 41 million net profit, respectively, a year
ago.
For the current term ending Dec 2014 the recurring profit is projected
at Yen 30 million and the net profit at Yen 45 million, respectively, on a 5%
rise in turnover, to Yen 1,185 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct 1986
Regd No.:
1800-01-092376
(Aichi-Obu)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen
10 million
Major
shareholders (%): Kasei Kogyo Co Ltd* (100)
*.. Mfr of rubber
products, Aichi-Pref, founded 1966, capital Yen 24 million, sales Yen 8,439
million, net profit Yen 190 million, employees 150, pres Katsuaki Kimura
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Manufactures
auto parts & accessories (--100%)
Clients: [Mfrs,
wholesalers] Honda Access (40%), Suzuki Motor (10%), Toyota Auto Body (10%),
Polytech Co (10%), Volvo Car Japan, other
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Tokai Kogyo Co, Takara Kasei, Pass Eight Co, other
Payment record: No Complaints
Location: Business area in
Obu City, Aichi-Pref. Office premises at
the caption address are owned and maintained satisfactory.
Bank References:
Okazaki Shinkin Bank (Kariya)
MUFG (Kariya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual
Sales |
|
1,185 |
1,132 |
1,250 |
1,121 |
|
Recur.
Profit |
|
30 |
28 |
81 |
60 |
|
Net
Profit |
|
45 |
43 |
41 |
37 |
|
Total
Assets |
|
|
858 |
755 |
800 |
|
Current
Assets |
|
|
567 |
545 |
576 |
|
Current
Liabs |
|
|
500 |
475 |
588 |
|
Net
Worth |
|
|
244 |
203 |
160 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.68 |
-9.44 |
11.51 |
-5.72 |
|
Current Ratio |
|
.. |
113.40 |
114.74 |
97.96 |
|
N.Worth Ratio |
|
.. |
28.44 |
26.89 |
20.00 |
|
R.Profit/Sales |
|
2.53 |
2.47 |
6.48 |
5.35 |
|
N.Profit/Sales |
|
3.80 |
3.80 |
3.28 |
3.30 |
|
Return On Equity |
|
.. |
17.62 |
20.20 |
23.13 |
Notes: Forecast
(or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.83 |
|
UK Pound |
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.