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Report No. : |
302094 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
IDAZ CO LTD |
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Registered Office : |
Yokohama Landmark Tower 37F, 2-2-1-1 Minatomirai Nishiku Yokohama 220-0012 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
Sept., 1994 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Develop of Software, Consulting |
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No. of Employees : |
10 |
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 Limits : |
YEN 46.7 MILLION |
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Status : |
Satisfactory |
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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 |
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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 |
IDAZ CO LTD
REGD NAME: KK
IDAJ
MAIN OFFICE: Yokohama
Landmark Tower 37F, 2-2-1-1 Minatomirai Nishiku Yokohama
220-0012 JAPAN
Tel: 045-683-1990 Fax: 045-683-1999
E-Mail address: (thru
the URL)
Develop of
software, consulting
Nagoya, Kobe
China
(Subcontracted)
K JO, Pres Tetsushi Tomura,
V Pres
Masatoshi
Ishikawa, dir Shuichi Ogawa, Dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 7,500 M*
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 10 M
TREND UP WORTH Yen
490 M
STARTED 1994 EMPLOYES 10
*.. Only estimated
as not precisely disclosed
DEVELOPER OF SOFTWARE.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED
AT YEN 46.7 MILLION, ON 30 DAYS NORMAL TERMS.
The subject
company was established by K Jo in order to make most of his experience in the
subject line of business. This is a
developer of software, business consultant, other. Clients include auto makers, electronic
makers, other. .
Financials are
disclosed only partially. Sales figures
are not precisely disclosed and only estimated.
The sales volume
for Sept/2014 fiscal term is reported amounted to Yen 7,500 million, a 7% up
from Yen 7,000 million in the previous term.
The net profit was posted at Yen 50 million, compared with Yen 45
million a year ago.
For the current
term ending Sept 2015 the net profit is projected at Yen 55 million, on a 7%
rise in turnover, to Yen 8,000 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Sept
1994
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued:
200 shares
Sum: Yen
10 million
Major
shareholders (%): Adapco (USA), CD (UK), K
Jo (--breakdown not disclosed)
No.
of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Develops software,
business consultant, other (--100%)
Clients: [Mfrs,
wholesalers] Toyota Motor, Nissan Motor, Cannon Inc, Toshiba Corp, Hitachi Ltd,
Oki Electric Ind, Mitsubishi Heavy Machinery Ind, Honda Motor, Denso Corp,
Asahi Glass, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Adapco (UK), CD (USA), other
Payment record: Slow but correct
Location: Business area in
Yokohama. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
SMBC (Yokohama)
MUFG (Yokohama)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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30/09/2015 |
30/09/2014 |
30/09/2013 |
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Annual
Sales |
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8,000 |
7,500 |
7,000 |
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Recur.
Profit |
|
.. |
.. |
.. |
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Net
Profit |
|
55 |
50 |
45 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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490 |
440 |
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Capital,
Paid-Up |
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10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
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S.Growth Rate |
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6.67 |
7.14 |
13.82 |
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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 |
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0.69 |
0.67 |
0.64 |
Notes: Financials
are only partially disclosed. Sales figures
are only estimated as not precisely disclosed.
Forecast (or
estimated) figures for the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
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|
1 |
Rs.93.27 |
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Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.