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Report No. : |
299563 |
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Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
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Name : |
METACO INC. |
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Registered Office : |
Nagatani Hill Plaza Roppongi 203, 7-3-8, Roppongi, Minato-ku, Tokyo
106-0032 |
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Country : |
Japan |
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Date of Incorporation : |
02.08.1979 |
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Com. Reg. No.: |
0101-01-029408 |
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Legal Form : |
Private |
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Line of Business : |
Manufacturer of Screen Window and Roll Screen |
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No. of Employee : |
76 |
RATING & COMMENTS
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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 Limit : |
US$ 850,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
METACO INC.
========
Country: Japan
Company name: METACO INC.
Name in local language: METACO,
K.K.
Office address: Nagatani Hill Plaza Roppongi
203, 7-3-8, Roppongi, Minato-ku,
Tokyo 106-0032
Office tel: 03-3403-9571
Office fax: 03-3403-6498
Website: www.metaco.net
Business type: Manufacturer
Industry: Screen window
and roll screen
Established: August 2, 1979
Capital: Jp.
60,000,000 yen
Employees: 76
Corporate formation: Private
Corporation No.: 0101-01-029408
(Tokyo Legal Affairs Bureau)
=====================
Paid in capital : Jp.
60,000,000 yen
Number of authorized shares : 240,000
shares
Shares issued : 120,000
shares
Number of shareholder : 7
Name of
shareholders Number of shares (%)
-----------------------------------------------------------------------------------------------------------
Mr. Yasuo Hoshiyama, president
44,900 shares (37.4)
Mr. Yukihiro Kimura, former director
38,900 shares (32.4)
Employees shareholders fund
24,000 shares (20.0)
-----------------------------------------------------------------------------------------------------------
Total
107,800
shares (89.8)
===========================================
Activity Product/Service
Description
-------------------------------------------------------------------------------
Manufacturing Screen
window
Manufacturing Roll screen
======================
President Mr. Yasuo Hoshiyama
Nationality: Japan
Director Mr.
Masaharu Ozawa
Nationality: Japan
Director Mr. Kenji Sakotsubo
Nationality: Japan
Nationality: Japan
Auditor Mr.
Masahiro Fukuoka
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Yasuo Hoshiyama
President and representative director
Born on November 15, 1938
Home address: 2044-12, Tsukiyono, Minakami-cho, Tone-gun, Gunma pref.
379-1313
===========
Currency: (local currency - Jp. yen)
-------------------------------------------------------------------------------------
Year | Sales | Net Income
-------------------------------------------------------------------------------------
|
2009 |
2,185,076,000 |
74,282,000 |
|
2010 |
2,288,911,000 |
165,758,000 |
|
2011 |
2,738,814,000 |
210,800,000 |
|
2012 |
2,417,322,000 |
65,436,000 |
|
2013 |
1,778,815,000 |
58,503,000 |
|
2014 |
1,875,518,000 |
92,971,000 |
=====================
*Book Closing*
============
July 31st
*Financials*
==========
As a private limited company, no official financial statement is
required to be disclosed publicly.
*Bank Details*
============
Bank Name : Bank of
Tokyo-Mitsubishi UFJ, Ltd.
Branch : Roppongi
Bank Name : Resona Bank, Ltd.
Branch : Shibuya
Bank Name : Mizuho Bank, Ltd.
Branch : Aoyama
*Credit Opinion*
=============
Subject is a Tokyo-based firm specializing in manufacture, sales and
export of screen window and roll window with actually 48-year business
experience.
The products look quite simple but some advance technologies are really
required.
Subject used to enjoy lucrative business in the early 2000s, but sale
has been declining since 2011.
The net income, however, has been worked out to some extent despite
sales decline.
Although the exact financial condition is not available due to
non-disclosure of its financial statements, there would be a certain amount of
retained earnings.
Negative factors are not observed financially in particular at moment.
Our standard suggestion would be up to US$ 850,000 on terms of 90 days.
===========================
Branch name: Osaka sales office
Branch address: Noninbashi, Chuo-ku, Osaka-shi
----------------------------------------------------------------------------------------------------
========================================
*Main Products & Services*
======================
Manufacture, sales and export of the following products:
Screen window (80%)
Roll window (20%
===============================================
Yokoham plant No.1: Kanazawa-ku, Yokohama-shi
Yokohama plant No.2: ditto
======================
*Address*
=========
Registered address is the same as the operational address.
The quoted phone number cannot be specified.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
1966 Started business.
August 2, 1979 Incorporated under the name of “Metaco
Industry Co., Ltd.”
July 31, 1984 Took the current company name.
================
*Suppliers*
==========
Kawashima Selkon Textiles Co., Ltd.
Fuji Light Metal Co., Ltd.
Sanritsu Metal Mold Industry Co., Ltd.
YKK Corp.
JNC Development Inc.
*Customers*
==========
LIXIL Corp.(20%)
Kawaguchi Giken Co., Ltd.
Tachikawa Blind Industries Co., Ltd.
Kawashima Selkon Textiles Co., Ltd.
Major general construction contractors
Export to overseas companies
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.97 |
|
|
1 |
Rs.94.97 |
|
Euro |
1 |
Rs.74.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
|
Report Prepared
by : |
TPT |
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 |
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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 |
|
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.