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Report No. : |
300443 |
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Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
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Name : |
AIR WATER SAFETY
SERVICE INC |
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|
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Registered Office : |
3-2-16
Takatsukadai Nishiku Kobe 651-2271 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1975 |
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Com. Reg. No.: |
1400-01-004624 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures respiratory equipment, fire distinguishers, medical devices, disaster prevention & safety equipment, special gas appliances, environmental control equipment, industrial safety equipment, other (--100%) Products are widely exported. |
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No. of Employee : |
289 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 916.7 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 – 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 |
AIR WATER SAFETY SERVICE INC
Air Water Bosai KK
3-2-16 Takatsukadai
Nishiku Kobe 651-2271 JAPAN
Tel:
078-992-1400
Fax: 078-993-2076
URL: http://www.rwb.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Mfg of respiratory equipment,
fire distinguisher, medical equipment, other
BRANCHES: Tokyo, Osaka, Nagoya, Sapporo,
Sendai, Fukuoka, other (Tot 7)
FACTORIES: At the caption address
OFFICERS: RYOICHI AOTA, PRES Tomoyuki Yamamoto, mgn dir
Yasohachi Ohara, dir Koichi Shimizu, dir
Hisao Ono, dir Kikuo Toyoda, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 25,108 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
1,708 M
TREND UP WORTH Yen 10,028 M
STARTED 1975 EMPLOYES 289
MFR OF FIRE
DISTINGUISHERS, DISASTER PREVENTION DEVICES,
OTHER, OWNED BY AIR WATER INC.
FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 916.7 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company
was established originally in 1924 by technical cooperation between Kawasaki
Dockyard Co Ltd and Dragerwerk AG (Germany) in the development of respirator,
and was incorporated in 1975, and then in Aug 2007 was acquired by Air Water
Inc (See REGISTRATION) and became
its 100% subsidiary. This is a
specialized mfr of respiratory equipment, medical equipment, fire
distinguishers, disaster prevention devices, special gas appliances,
other. Goods are exported. .
The sales volume
for Mar/2014 fiscal term amounted to Yen 25,108 million, a 25% up from Yen
20,075 million in the previous term.
Fire distinguishers and respiratory devices were in much demand, and
exports were robust. The recurring
profit was posted at Yen 2,893 million and the net profit at Yen 1,776 million,
respectively, compared with Yen 2,532 million recurring profit and Yen 1,599
million net profit, respectively, a year ago.
For the current
term ending Mar 2015 the recurring profit is projected at Yen 3,000 million and
the net profit at Yen 1,850 million, respectively, on a 6% rise in turnover, to
Yen 26,500 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 916.7
Million, on 30 days normal terms.
Date Registered: Apr 1975
Regd No.: 1400-01-004624 (Kobe-Nishiku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 40
million shares
Issued: 10,450,000
shares
Sum: Yen
1,708 million
Major shareholders (%): Air
Water Inc* (100)
*.. One of largest industrial gas mfr, Osaka, founded 1929, listed Tokyo,
Sapporo S/E’s, capital Yen 32,263 million, sales Yen 641,256 million, operating
profit Yen 35,076 million, recurring profit Yen 36,275 million, net profit Yen
19,219 million, total assets Yen 518,967 million, net worth Yen 206,902
million, employees 9,557, pres Yasuo Imai
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Manufactures respiratory equipment, fire distinguishers, medical
devices, disaster prevention & safety equipment, special gas appliances,
environmental control equipment, industrial safety equipment, other (--100%)
Products are widely
exported.
Clients: [Mfrs, wholesalers] Shigematsu Works Co, Green Hospital Supply, Enegate
Co, Hochiki Corp, Toda Corp, Obayashi Corp, Kawasaki Trading Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Green Hospital Supply, Miwa Electric Medical,
Iwatani Corp, Maquet GmbH Japan, other
Payment record: No Complaints
Location: Business area in Kobe. Office
premises at the caption address are owned and maintained satisfactory.
Bank References:
Mizuho Bank
(Akashi)
SMBC (Akashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
26,500 |
25,108 |
20,075 |
17,413 |
|
Recur. Profit |
|
3,000 |
2,893 |
2,532 |
|
|
Net Profit |
|
1,850 |
1,776 |
1,599 |
1,164 |
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Total Assets |
|
|
19,164 |
16,865 |
16,241 |
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Current Assets |
|
|
15,398 |
13,008 |
|
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Current Liabs |
|
|
9,023 |
7,576 |
|
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Net Worth |
|
|
10,028 |
9,095 |
8,166 |
|
Capital, Paid-Up |
|
|
1,708 |
1,708 |
1,708 |
|
Div.P.Share(¥) |
|
|
761.00 |
837.00 |
368.00 |
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<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.54 |
25.07 |
15.29 |
3.91 |
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Current Ratio |
|
.. |
170.65 |
171.70 |
.. |
|
N.Worth Ratio |
|
.. |
52.33 |
53.93 |
50.28 |
|
R.Profit/Sales |
|
11.32 |
11.52 |
12.61 |
.. |
|
N.Profit/Sales |
|
6.98 |
7.07 |
7.97 |
6.68 |
|
Return On Equity |
|
.. |
17.71 |
17.58 |
14.25 |
Notes: Forecast (or
estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
|
|
1 |
Rs.94.02 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
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 |
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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 |
|
-- |
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.