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Report No. : |
308978 |
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Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
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Name : |
PASCAL CORPORATION |
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Registered Office : |
2-14-7 Konoike Itami Hyogo-Pref 664-0006 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May, 1974 |
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Com. Reg. No.: |
1400-01-1077910 (Hyogo-Itami) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturer of Factory Automation Equipment and Systems. |
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No. of Employees : |
50 |
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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Maximum Credit Limit : |
YEN 162.0 MILLION |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
PASCAL CORPORATION
REGD NAME: Pascal
KK
MAIN OFFICE: 2-14-7
Konoike Itami Hyogo-Pref 664-0006 JAPAN
Tel:
072-777-4555 Fax: 072-777-3520
*.. The
given phone number is of the overseas trading division
**.. The
Postal Code No is its Osaka Office at: 2-14-7 Konoike, Itami City
URL: http://www.pascaleng.co.jp
E-Mail address: info@pascaleng.co.jp
Mfg of
factory automation equipment & systems
400
(including applications pending)
Kumagaya,
Atsugi, Nagoya, Osaka
USA,
Germany, China (5), Taiwan, Thailand, Korea
Yamagata,
Oita; Dalian (China)
ICHIRO
KITAURA, PRES
Taiichiro
Kitaura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen
8,800 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 99
M
TREND UP WORTH Y5n 1,965 M
STARTED 1974 EMPLOYES 50
MFG OF FA EQUIPMENT & SYSTEMS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 162.0 MILLION, 30 DAYS NORMAL TERMS
The
subject company was established by Ichiro Kitaura in order to make most of his
experience in the subject line of business.
Originally named as Aioi Seiki Inc and renamed as captioned in 1986. This
is a specialized mfr of factory automation equipment & systems: machine
tools, pressing machines, metal working machines, precision instruments, other
(See OPERATION). Has overseas subsidiaries & office in
USA, Germany, China, Korea, Thailand, and Taiwan. Factory in Dalian (China) supplies to the
local market as well as exports. Clients
include major automakers, engineering firms, machine mfrs, other, nationwide.
Financial are only partially disclosed. Profits are not precisely disclosed and only
estimated.
The sales volume for Mar/2014 fiscal term amounted to Yen
8,800 million, a 6% up from Yen 8,300 million in the previous term. Weaker Yen contributed to raise earnings in
Yen terms. The net profit is estimated
posted at Yen 130 million, compared with Yen 125 million a year ago.
For the current term ending Mar 2015 the net profit is
projected at Yen 140 million, on a 5% rise in turnover, to Yen 9,250
million. Business is seen expanding
steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 162.0 million, on 30 days normal terms.
Date Registered: May
1974
Regd No.: 1400-01-1077910
(Hyogo-Itami)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued:
199,980 shares
Sum: Yen
99.99 million
Major shareholders (%): Ichiro Kitaura & families
(--100)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures factory automation
equipment & systems: work clamping system, expansion clamp, gas springs,
mini gas spring, molding machine system, octagonal locate ring, magnetic
ejector rod, machine tool system, Pal coupling, press machine system, mag clamp,
die casting machine system, C-plate mag clamp, robot tool changer WVR, Pascal
pumps, other (--100%)
Clients: [Mfrs, wholesalers] Toyota Motor, Aida
Engineering, Fuji Heavy Ind, Toshiba Machine, Mitsubishi Heavy Ind, Komatsu
Ltd, DMG Mori Seiki, Fanuc Corp, Toyota Tsusho Corp, Nissan Motor, Honda Motor,
Mitsubishi Motor, Aida Engineering, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Pascal Yamagata,
Pascal Oita, Pascal Trading, other
Payment record: No Complaints
Location:
Business area in Itami, Hyogo-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
SMBC
(Itami)
Mizuho
Bank (Kobe)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
|
9,250 |
8,800 |
8,300 |
8,000 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
140 |
130 |
125 |
120 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
1,965 |
1,835 |
1,710 |
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Capital,
Paid-Up |
|
|
99 |
99 |
99 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
5.11 |
6.02 |
3.75 |
29.03 |
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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 |
|
1.51 |
1.48 |
1.51 |
1.50 |
Notes:
Financials are only partially disclosed.
Profits are not disclosed and only estimated.
Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.