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Report No. : |
302805 |
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Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
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Name : |
NEMY ENERGY SOLUTIONS INC |
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Registered Office : |
Nakamura Bldg 7F, 2-24-3 Ohashi Meguroku Tokyo 153-0064 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2014 |
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Date of Incorporation : |
July 1967 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures solar power system frames (noise & vibration free);
wholesale of solar power systems, others (--100%) |
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No. of Employee : |
110 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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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 |
NEMY ENERGY
SOLUTIONS INC
Nemy KK
Nakamura Bldg 7F, 2-24-3 Ohashi Meguroku Tokyo 153-0064 JAPAN
Tel: 03-5430-3103
Fax: 03-5430-5181
E-Mail address: (thru the URL)
ACTIVITIES: Mfg of solar system frames, wholesale of
solar systems, other
BRANCHES: Sendai, Kobe, Fukuoka
FACTORIES: Shizuoka (2)
OFFICERS: YOSHIHISA NEGAMI, PRES
Noriko Negami, dir
Kyoko
Takahashi, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 4,709 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND UP WORTH Yen 152 M
STARTED 1967 EMPLOYES 110
COMMENT: MFR OF SOLAY SYSTEM FRAMES; WHOLESALER OF
SOLAR SYSTEM. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established as a manufacturer of solar power system
frames; wholesaler of solar power systems, others. System frames are vibration & noise free
items. Clients include makers,
electronics firms, others, nationwide.
The sales volume for Jul/2014 fiscal term amounted to Yen 4,709 million,
a 6% up from Yen 4,459 million in the previous term. The recurring profit was posted at Yen 10
million and the net profit at Yen 9 million, respectively, compared with Yen 48
million recurring profit and Yen 19 million net profit, respectively, a year
ago.
For the current term ending Jul 2015 the recurring profit is projected
at Yen 100 million and the net profit at Yen 50 million, respectively, on a 70%
rise in turnover, to Yen 8,000 million.
Sales of solar power system for industrial-use will expand, together
with its frames.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jul 1967
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
8,000 shares
Issued:
2,000 shares
Sum: Yen 10 million
Major shareholders
(%): Nemy Holdings Inc* (100)
*.. Holding company of the group firms
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
solar power system frames (noise & vibration free); wholesale of solar
power systems, others (--100%)
Clients: [Mfrs,
wholesalers] Toshiba Carrier Corp, Takashima & Co, Mitsubishi Electric Living
Environment Systems, Hitachi Appliances, Yanmar Energy System, Asahi Sangyo
Kaisha, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kikuchi Ind, Meiji Steel Ind, KHD, Sanwa Technos, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Jonan Shinkin Bank (Shibuya)
SMBC (Shibuya)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/07/2015 |
31/07/2014 |
31/07/2013 |
31/07/2012 |
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Annual Sales |
|
8,000 |
4,709 |
4,459 |
1,999 |
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Recur. Profit |
|
100 |
10 |
48 |
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Net Profit |
|
50 |
9 |
19 |
3 |
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Total Assets |
|
|
2,751 |
2,526 |
1,205 |
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Current Assets |
|
|
2,125 |
2,070 |
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Current Liabs |
|
|
1,712 |
1,402 |
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Net Worth |
|
|
152 |
236 |
217 |
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Capital, Paid-Up |
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|
10 |
10 |
10 |
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Div.Ttl in Million (¥) |
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|
0.00 |
0.00 |
4.2 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
69.89 |
5.61 |
123.06 |
25.88 |
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Current Ratio |
.. |
124.12 |
147.65 |
.. |
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N.Worth Ratio |
.. |
5.53 |
9.34 |
18.01 |
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R.Profit/Sales |
1.25 |
0.21 |
1.08 |
.. |
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N.Profit/Sales |
0.63 |
0.19 |
0.43 |
0.15 |
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Return On Equity |
.. |
5.92 |
8.05 |
1.38 |
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Notes: Forecast (or estimated) figures for the 31/07/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.93.49 |
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Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.