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Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
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Name : |
ERBIS ENGINEERING CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
July 1978 |
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Com. Reg. No.: |
0104-01-005623
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Export of medical
instruments/equipment, AV equipment, electronics parts |
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No. of Employees : |
10 |
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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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) |
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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
|
Source
: CIA |
ERBIS ENGINEERING CO LTD
REGD NAME: Erbis
Engineering KK
MAIN OFFICE:
Tel:
03-3436-0311 Fax: 03-3436-0312
URL: http://www.erbis.co.jp/
E-mail: sales@erbis.co.jp
Export
of medical instruments/equipment, AV equipment, electronics parts
Nagano,
Osaka, Nagoya, Fukuoka, other (Tot 27)
India
(4), Bangladesh, Nepal (--subsidiaries)
KATSUSHI
SOTOMATSU, PRES
Norio Tajima, dir Kenji Sotomatsu, dir
Nobuaki Sotomatsu, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,900 M
PAYMENTSREGULAR CAPITAL Yen
10 M
TREND UP WORTH Yen 588 M
STARTED 1978 EMPLOYES 10
EXPORTER
OF MEDICAL EQUIPMENT, AS AGENT FOR TOSHIBA MEDICAL SYSTEMS
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject
company was established by Katsushi Sotomatsu in order to make most of his
experience in the subject line of business, on obtaining agency exporting
business agreement from Toshiba Medical Systems. This is a trading firm specializing in
medical equipment: cardio-vascular systems, fluoroscopy, radiography, mobile
X-ray unit, other. 70% of the goods are
wholly supplied from Toshiba Medical Systems.
Has three overseas subsidiaries: India (4), Bangladesh and Nepal. Indian Subsidiary operates 13 branches, 11
sales & service offices, with a total 160 employees.
Financials
are only partially disclosed. Financials
for the Dec/2013 fiscal term are not precisely disclosed and reported only
The sales volume for Dec/2013
fiscal term are reported amounted to Yen 1,900 million, a 52% up from Yen 1,253
million in the previous term. The net
profit is reported posted at Yen 10 million, compared with Yen 7 million a year
ago.
For
the current term ending Dec 2014 the net profit is projected at Yen 12 million,
on a 3% rise in turnover, to Yen 1,960 million
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Jul 1978
Regd No.: 0104-01-005623 (Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued:
20,000 shares
Sum: Yen 10 million
Major shareholders (%): Katsushi Sotomatsu (55),
Masako Sotomatsu (25)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports medical equipment as agent
for Toshiba Medical systems: cardio-vascular systems, fluoroscopy, radiography,
mammography, mobile C-Arm, mobile X-ray unit, health-care goods, other (70%),
AV equipment (10), electronics parts & components (10%), others (10%). (Breakdown % is all about)
Clients: [Hospitals, wholesalers] Apollo
Hospitals, Billroth Hospitals, Bombay Hospital, Care Hospitals, Christian
Medical College, Columbia Asia, Fortis Healthcare, Lilavati Hospital &
Research Center, Wockhardt Hospital, other
No. of accounts: Unavailable
Domestic
areas of activities: Nationwide
Suppliers [Mfrs, wholesalers] Toshiba Medical
Systems (70%), Fuji Film, Konica Minolta MG, Clarion, Alps Electric, Toray
Medical, IHI Shibaura, Hitachi Ltd, Kawatake Electronics, Vital Images Inc,
Fuji Film, other
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Kamiyacho)
Resona
Bank (Toranomon)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
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Annual
Sales |
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1,960 |
1,900 |
1,253 |
1,986 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
12 |
10 |
7 |
-143 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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|
588 |
578 |
571 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.16 |
51.64 |
-36.91 |
20.22 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
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0.61 |
0.53 |
0.56 |
-7.20 |
Notes: Financials are only partially disclosed. Figures for the 31/12/2013 fiscal term are
not precisely disclosed and reported only.
Forecast
(or estimated) figures for the 31/12/2014 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
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|
1 |
Rs.100.06 |
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Euro |
1 |
Rs.78.46 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.