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Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MIGHTY ENGINEERING INC |
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Registered Office : |
1-29-13 Imaike Chigusaku |
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Country : |
Japan |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
June, 1990 |
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Com. Reg. No.: |
1800-01-005391
(Nagoya-Chigusaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of industrial equipment & machines |
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No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limits : |
YEN 12.9 MILLION |
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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) |
|
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 |
MIGHTY ENGINEERING INC
REGD NAME: KK
Mighty Engineering
MAIN OFFICE: 1-29-13
Imaike Chigusaku
Tel:
052-733-7070 Fax: 052-733-8588
URL: http://www.mighty-eng.co.jp
E-Mail address: (thru the URL)
Import, export,
wholesale of industrial equipment & machines
Nagoya
MAKOTO KAMIYA,
PRES Osamu Kamiya, dir
Hiromi Kamiya, dir Miyako Oguri, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 700 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 10 M
TREND STEADY WORTH Yen 161 M
STARTED 1990 EMPLOYES 5
TRADING FIRM SPECIALIZING IN MACHINERY &
ELECTRIC EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 12.9 MILLION, ON 30 DAYS NORMAL TERMS.
The subject
company was established by Makoto Kamiya in order to make most of his
experience in the subject line of business.
This is a trading firm for import, export and wholesale of power plants
& transmission gears, gear speed reducers, speed reducers, specialty
vehicles, other. Clients include auto
makers, machinery makers, wholesalers, other.
Financials are disclosed only partially.
The sales volume for May/2013 fiscal term amounted to Yen 700 million, a
similar amount in the previous term. The
net profit marked time at Yen 15 million.
For the term that ended May 2014 the net profit was projected at Yen 17
million, on a 5% rise in turnover, to Yen 735 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 12.9 million, on 30 days normal terms.
Date Registered: Jun 1990
Regd No.:
1800-01-005391
(Nagoya-Chigusaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200 shares
Sum: Yen
10 million
Major
shareholders (%): Makoto Kamiya (70), Osamu Kamiya (15), Hiromi Kamiya (15)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of machinery parts & components: power plant
& transmission gears, gear speed reducers, speed reducers, specialty
vehicles, others (--100%)
Clients: [Mfrs,
wholesalers] Toho Technology Corp, Toyota Motor Tokyo, Netz Toyota Tokyo Co,
Netz Toyota Higashi-Nagoya Co, Toyota Tsusho Corp, other
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kyokuto Kaihatsu Kogyo, other
Payment record: No Complaints
Location: Business area in
Nagoya. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
MUFG (Imaike)
Mizuho Bank (Nagoya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/05/2014 |
31/05/2013 |
31/05/2012 |
31/05/2011 |
|
Annual
Sales |
|
735 |
700 |
700 |
380 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
17 |
15 |
15 |
5 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
161 |
146 |
131 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.00 |
0.00 |
84.21 |
-11.63 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
2.31 |
2.14 |
2.14 |
1.32 |
Notes: Financials are only partially
disclosed. Profits are not precisely
disclosed and reported or estimated only.
Forecast (or
estimated) figures for the 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.87 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.23 |
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 |
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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 |
|
|
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.