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Report No. : |
332560 |
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Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
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Name : |
NEXT ENERGY & RESOURCES CO LTD |
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Registered Office : |
11465-6 Akaho Komagane City Nagano-Pref 99-4117 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
December, 2003 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of Mega-Solar Power Systems (For Industrial-Use), Modules,
Other |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 an 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. Scarce in many natural resources, Japan has long been dependent on imported raw materials. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times since 2008. 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 of that year disrupted manufacturing. The economy has largely recovered in the four years since the disaster, although reconstruction in the affected Tohoku region has lagged, in part due to a shortage of labor in the construction sector. Japan enjoyed a sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary easing, “flexible” fiscal policy, and structural reform. Abe’s government has replaced the preceding administration’s plan to phase out nuclear power with a new policy of seeking to restart nuclear power plants that meet strict new safety standards, and emphasizing nuclear energy’s importance as a base-load electricity source. Japan joined the Trans-Pacific Partnership (TPP) 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 2014 stood as the fourth-largest economy in the world after first-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. While seeking to stimulate and reform the economy, the government must also devise a strategy for reining in Japan's huge government debt, which amounts to more than 230% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8% implemented in April 2014. That increase had a contractionary effect on GDP, however, so PM Abe in late 2014 decided to postpone the final phase of the increase until April 2017 to give the economy more time to recover. Led by the Bank of Japan’s aggressive monetary easing, Japan is making progress in ending deflation, but demographics - low birthrate and an aging, shrinking population - pose major long-term challenges for the economy.
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Source
: CIA |
NEXT ENERGY & RESOURCES CO LTD
REGD NAME: Next
Energy & Resource KK
MAIN OFFICE: 11465-6
Akaho Komagane City Nagano-Pref 99-4117 JAPAN
Tel:
0265-98-6800 Fax: 0265-98-6809
E-Mail address: info@nextenergy.jp
Wholesale of
mega-solar power systems (for industrial-use), modules, other
Tokyo, Osaka
At the caption address
(maintenance services)
ATSUSHI ITOH, PRES Masahiro Ariki, v pres
Kiyotaka Fujimura,
dir Kenzo Domi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 12,199 M
PAYMENTSREGULAR CAPITAL Yen 268 M
TREND UP WORTH Yen
868 M
STARTED 2003 EMPLOYES 120
WHOLESALER OF SOLAR POWER SYSTEMS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject
company was established by Next Holdings Co Ltd for handling and wholesaling
solar power systems & plant for industrial-use. The firm also rent solar power systems. Maintenance services are offered at its own
factory at the caption address. Clients
include mfrs, firms, stores, construction firms, other, nationwide.
The sales volume
for Jun/2014 term amounted to Yen 12,199 million, a 409% up from Yen 5,481
million in the previous term. Large lot
orders & sales resulted for mega-solar & industrial solar power
plant. The recurring profit was posted
at Yen 480 million and the net profit at Yen 409 million, respectively,
compared with Yen 440 million recurring profit and Yen 403 million net profit,
respectively, a year ago.
For the current term ending Jun 2015 the recurring profit is projected
at Yen 750 million and the net profit at Yen 450 million, respectively, on an
11% rise in turnover, to Yen 13,500 million.
Business is seen expanding fast and steadily
The financial situation
is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 2003
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 21,440
shares
Issued: 5,360
shares
Sum: Yen
268 million
Major shareholders (%): Next Holdings Co Ltd* (100)
*.. Holding company of
group firms
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales and
rents: mega-solar & industrial solar power plant, solar cell modules,
system components, offering monitoring & maintenance services (--100%)
Clients: Sharp Corp,
business firms, mfrs, shops, construction firms, other
No. of accounts: 350
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers]
Power generation firms in China (50%), makers in Germany (20%), Fukumi
Construction, other
Payment record: No Complaints
Location: Business area in
Komagane City, Nagano-Pref. Office
premises at the caption address are owned and maintained satisfactory.
Bank References:
Mizuho Bank (Yaesuguchi)
Hachijuni Bank (Komagatake)
Relations: Satisfactory
(In Million
Yen)
|
Terms Ending: |
30/06/2015 |
30/06/2014 |
30/06/2013 |
30/06/2012 |
|
|
Annual
Sales |
|
13,500 |
12,199 |
5,481 |
625 |
|
Recur.
Profit |
|
750 |
680 |
440 |
|
|
Net
Profit |
|
450 |
409 |
403 |
-133 |
|
Total
Assets |
|
|
4,447 |
3,244 |
410 |
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Current
Assets |
|
|
3,953 |
3,134 |
|
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Current
Liabs |
|
|
2,898 |
2,496 |
|
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Net
Worth |
|
|
868 |
459 |
56 |
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Capital,
Paid-Up |
|
|
268 |
268 |
268 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
10.66 |
122.57 |
776.96 |
-6.99 |
|
Current Ratio |
|
.. |
136.40 |
125.56 |
.. |
|
N.Worth Ratio |
|
.. |
19.52 |
14.15 |
13.66 |
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R.Profit/Sales |
|
5.56 |
5.57 |
8.03 |
.. |
|
N.Profit/Sales |
|
3.33 |
3.35 |
7.35 |
-21.28 |
|
Return On Equity |
|
.. |
47.12 |
87.80 |
.. |
Notes: Forecast (or estimated) figures for the
30/06/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.96 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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Report Prepared
by : |
ASH |
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 |
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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.