MIRA INFORM REPORT
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Report No. : |
310475 |
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Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
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Name : |
JASCO INTERNATIONAL CO LTD |
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Registered Office : |
1-11-10 Myojincho Hachioji Tokyo-Metrop 192-0046 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2014 |
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Date of Incorporation : |
September 1977 |
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Com. Reg. No.: |
0101-01-001796 (Tokyo-Hachioji) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export and wholesale of analytical instruments,
spectrometers, testing equipment, scientific instruments |
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No. of Employee : |
77 |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
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Source
: CIA |
Company
name and address
JASCO INTERNATIONAL CO LTD
REGD NAME: Jasco
International KK
MAIN OFFICE: 1-11-10
Myojincho Hachioji Tokyo-Metrop 192-0046 JAPAN
Tel: 042-649-1421
Fax: 042-649-1874
URL: http://www.jascoint.co.jp/
E-Mail
address: sales@jascoint.co.jp
ACTIVITIES
Import,
export, wholesale of spectroscopic & chromatographic instruments, etc
BRANCHES
Hachioji
(second division), Tokyo, Osaka, Nagoya, Fukuoka (Tot 6)
OVERSEAS
USA,
Germany, UK, France, Italy, Hungary, Netherlands, Spain (--subsidiaries)
OFFICER(S)
HIROYUKI
NAGAKAWA, PRES
Mitsuo
Watanabe, ch
Akihiro Shibata, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,968 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
60 M
TREND UP WORTH Yen 3,734 M
STARTED 1977 EMPLOYES 77
COMMENT
A TRADING FIRM SPECIALIZING IN
ANALYTICAL INSTRUMENTS & TESTING
EQUIPMENT, AFFILIATED TO JASCO
CORPORATION
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established on the basis of an
overseas trading division separated from Jasco Corp, mfr of analytical
instrumentation, Hachioji, Tokyo-Metrop.
Jasco Corp started exports of scientific instruments in 1965. This is a trading house (virtually a trading
division of the said Jasco Corp), specializing in analytical instruments &
other scientific testing equipment with three core divisions: Division 1,
handling spectroscopic & chromatographic instruments; Division 2, handling
mass spectrometers; and Division 3, handing rheological measurement systems
& plastic testing devices (details see OPERATION). Goods are imported from and exported to USA,
UK, Germany, Italy, France, Netherlands, Sweden, etc through its group
subsidiaries & agent dealers.
Domestic clients include universities, laboratories, mfrs,
municipalities, wholesalers, other.
FINANCIAL
INFORMATION
The sales volume for Jul/2014 fiscal term amounted to Yen
3,968 million, a 3% up from Yen 3,856 million in the previous term. The weaker Yen contributed to raise
Import/export earnings in Yen terms. The
recurring profit was posted at Yen 19 million and the net profit at Yen 8
million, respectively, compared with Yen 101 million recurring profit and Yen
64 million net profit, respectively, a year ago.
For the current term ending Jul 2015 the recurring profit is
projected at Yen 110 million and the net profit at Yen 70 million,
respectively, on a 3% rise in turnover, to Yen 4,100 million. Weaker Yen continues to contribute to raise
import/export earnings in Yen terms.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
REGISTRATION
Date Registered: Sept
1977
Regd No.: 0101-01-001796
(Tokyo-Hachioji)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 240,000
shares
Issued:
120,000 shares
Sum: Yen 60
million
Major shareholders (%): Jasco
Corp*(32.1), Hiroshi Kobayashi (17.2), Teruo Nakahara (10), Akiko Miyazaki
(7.5), Noriaki Harima (6.8)
No. of shareholders: 23
*.. Mfr of analytical
instrumentation, Hachioji, Tokyo-Metrop, founded 1958: capital Yen 90 million,
turnover Yen 7,278 million, net profit Yen 55 million, employees 270, pres
Toshiki Nakamura
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: A trading house for import, export and
wholesale of analytical instruments, spectrometers, testing equipment,
scientific instruments, other (--100%)
Clients: Academics, industrial research firms,
food processors, cosmetics makers, plastic makers, government agencies,
environmental analytic labs, research institutes, other. Exports the products of the parent, Jasco
Corp, to over 45 countries worldwide.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Jasco Corp,
Phenom World, Nabertherm, Euro Vector SPA, FTA, Waters Corporation, Varian Inc,
First Ten Angstroms Inc, Isoprime Ltd, REOLO GICA Instruments, other.
Payment record: No Complaints
Location: Business
area in Hachioji City, adjacent to Tokyo.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
MUFG
(Hachioji-Chuo)
Mizuho
Bank (Hachioji)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/07/2015 |
31/07/2014 |
31/07/2013 |
31/07/2012 |
|
|
Annual
Sales |
|
4,100 |
3,968 |
3,856 |
4,132 |
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Recur.
Profit |
|
110 |
19 |
101 |
204 |
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Net
Profit |
|
70 |
8 |
64 |
129 |
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Total
Assets |
|
|
5,494 |
5,649 |
5,468 |
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Current
Assets |
|
|
4,823 |
5,042 |
5,274 |
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Current
Liabs |
|
|
1,459 |
1,563 |
1,731 |
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Net
Worth |
|
|
3,734 |
3,737 |
3,685 |
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Capital,
Paid-Up |
|
|
60 |
60 |
60 |
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Div.Ttl
in Million (¥) |
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|
12 |
12 |
12 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
3.33 |
2.90 |
-6.68 |
-9.90 |
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Current Ratio |
|
.. |
330.57 |
322.58 |
304.68 |
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N.Worth Ratio |
|
.. |
67.97 |
66.15 |
67.39 |
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R.Profit/Sales |
|
2.68 |
0.48 |
2.62 |
4.94 |
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N.Profit/Sales |
|
1.71 |
0.20 |
1.66 |
3.12 |
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Return On Equity |
|
.. |
0.21 |
1.71 |
3.50 |
Notes:
Forecast (or estimated) figures for the 31/07/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.79 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ANK |
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 |
-- |
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.