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Report No. : |
303277 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
INFEC CO LTD |
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Registered Office : |
299-1 Nogoyamachi Utsunomiya Tochigi-Pref 321-3222 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May, 1954 |
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Com. Reg. No.: |
0600-01-002162 (Tochigi-Utsunomiya) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Auto Body Metal Plate, Parts, Other. |
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No. of Employees : |
78 |
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 Limits : |
YEN 128.0 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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 |
INFEC CO LTD
REGD NAME: KK
Infec
MAIN OFFICE: 299-1
Nogoyamachi Utsunomiya Tochigi-Pref 321-3222 JAPAN
Tel: 028-667-6451 Fax: 028-670-5341
URL: http://www.bekkoame.ne.jp
E-Mail address: (thru the URL)
Mfg of auto body
metal plate, parts, other
Saitama
At the caption
address
SHOJI ITOH, PRES Kazuyuki Tsuchiya, s/mgn dir
Masanori Higa, mgn
dir Shin’ichi Takanezawa, mgn
dir
Ken’ichi Morii,
dir Nobuo Oki, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 4,020 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 571 M
TREND STEADY WORTH Yen 1,271 M
STARTED 1954 EMPLOYES 78
MFR OF AUTO BODY SHEET METAL, PARTS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 128.0 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established originally in 1924 by father of Shoji
Itoh in order to make most of his experience in the subject line of business,
and was incorporated in 1954. Shoji Itoh
took the pres office in May 1991. This
is a specialized mfr of auto body sheet metal, auto parts, other. Leading mfr of these lines in the
industry. Goods are widely
exported. Clients are auto makers,
other.
Financials are
disclosed only partially.
The sales volume
for Mar/2014 fiscal term amounted to Yen 4,020 million, an 8% down from Yen
4,365 million in the previous term. The
net profit was posted at Yen 146 million, compared with Yen 190 million a year
ago.
For the current
term ending Mar 2015 the net profit is projected at Yen 160 million on a 9%
rise in turnover, to Yen 4,380 million.
Production of automobiles is expanding.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 128.0
million, on 30 days normal terms.
Date Registered: May
1954
Regd No.:
0600-01-002162
(Tochigi-Utsunomiya)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4.5
million shares
Issued: 1,143,000
shares
Sum: Yen
571.5 million
Major shareholders
(%): Employees’ S/Holding
Assn (26), Company’s Treasury Stock (13.1),
Shoji Itoh (13), Kazuyuki Tsuchiya (6)
No.
of shareholders: 44
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
auto body sheet metal, parts, accessories, others (--100%)
Clients: [Mfrs,
wholesalers] Honda Motors, Honda R&D Co, other
Exports to USA, S/E Asia, other
No. of accounts: 350
Domestic areas of activities:
Centered in Tochigi-Pref
Suppliers: [Mfrs,
wholesalers] Steel Center, Ohtani Steel Works, Seikosha, Toyotsu Chemiplas,
other
Payment record: No Complaints
Location: Business area in
Utsunomiya. Office premises at the
caption address are owned and maintained satisfactory.
Bank References:
Musashino Bank
(Sakato)
MUFG (Komatsugawa)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
Annual
Sales |
|
4,380 |
4,020 |
4,365 |
3,770 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
160 |
146 |
190 |
120 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
1,271 |
1,131 |
941 |
|
Capital,
Paid-Up |
|
|
571 |
571 |
571 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
8.96 |
-7.90 |
15.78 |
-0.11 |
|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
3.65 |
3.63 |
4.35 |
3.18 |
Notes: Financials
are only partially disclosed.
Forecast (or estimated)
figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.93.49 |
|
Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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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 |
|
|
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.