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Report No. : |
305083 |
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Report Date : |
24.01.2015 |
IDENTIFICATION DETAILS
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Name : |
MORITA TECHNOS
CORPORATION |
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|
|
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Registered Office : |
32 Techno Park Mita City Hyogo-Pref 669-1339 |
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|
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 (Estimated) |
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Date of Incorporation : |
July 1997 |
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Com. Reg. No.: |
1200-01-132334 (Hyogo-Mita) |
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Legal Form : |
Limited Company |
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|
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Line of Business : |
Engaged in Maintenance works
of Fire-Engines such as Overhaul & Checkup, Repairs as well as
Maintenance |
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|
|
|
No of Employees : |
110 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
174.2 Million |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
|
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 |
MORITA TECHNOS CORPORATION
KK Morita Technos
32 Techno Park Mita City Hyogo-Pref 669-1339 JAPAN
Tel: 079-568-7171 Fax: 079-568-7172
*.. The is its Tokyo Office
URL: http://www.morita-technos.com
E-Mail address: (thru the
URL)
Engaged in Maintenance works of Fire-Engines such as Overhaul & Checkup, Repairs as well as Maintenance
Tokyo, Chiba, Nagoya, Sendai, other (Tot 7)
At the caption address, Chiba
YASUMASA TERAYAMA, PRES Naoyuki
Murai, s/mgn dir
Shigeru Nakagawa, mgn dir Koichi
Iwamoto, dir
Ryozo Nakao, dir Masahiro
Nakashima, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen
4,233 M
PAYMENTS REGULAR CAPITAL Yen
100 M
TREND UP WORTH Yen 2,605 M
STARTED 1997 EMPLOYES 110
MAINTENANCE
WORKS OF FIRE-ENGINES.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 174.2 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established on the basis of a division separated from Morita Holdings Corp (See REGISTRATION). This is a specialized maintenance works of fire-engines: overhaul & checkup, maintenance as well as repairs. Clients include government agencies, local municipalities, other.
The sales volume for Mar/2014 fiscal term amounted to Yen 4,233 million, an 8% up from Yen 3,933 million in the previous term. Handling works rose. The recurring profit was posted at Yen 1,064 million and the net profit at Yen 601 million, respectively, compared with Yen 1,021 million recurring profit and Yen 613 million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected at Yen 1,100 million and the net profit at Yen 610 million, respectively, on a 3% rise in turnover, to Yen 4,350 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 174.2 million, on 30 days normal terms.
Date Registered: Jul 1997
Regd No.: 1200-01-132334 (Hyogo-Mita)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,000 shares
Issued: 2,000 shares
Sum: Yen 100 million
Major shareholders (%): Morita Holdings Corp* (100)
*.. Mfr of fire-engines, Osaka, founded 1932, listed Tokyo S/E, capital Yen 4,746 million, sales Yen 71,666 million, operating profit Yen 6,694 million, recurring profit Yen 6,983 million, net profit Yen 3,527 million, total assets Yen 78,759 million, net worth Yen 43,201 million, employees 1,592, pres Masahiro Nakajima
Nothing detrimental is known as to the commercial morality
of executives.
Activities: Maintenance works of fire-engines: overhaul & checkup, repairs as well as maintenance (--100%)
Clients: [Mfrs, wholesalers] Morita Co (20%), Morita Echonos, Morita Miyata Ind, Inaba Denki Sangyo, Fukunishi Electrical, Tokyo-Metrop, Osaka-Pref, other municipalities, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Inaba Denki Sangyo, Oonosawa Denki Seisakusho, Numata Corp, Kansai Denshi Kogyo, Hyuga Denshi Kogyo, Shimoda Group, other
Payment record: Regular
Location: Business area in Hyogo. Office premises at the caption address are owned and maintained satisfactory.
Bank References:
MUFG (Semba-Chuo)
SMBC (Osaka-Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
4,350 |
4,233 |
3,933 |
4,188 |
|
Recur.
Profit |
|
1,100 |
1,064 |
1,021 |
|
|
Net
Profit |
|
610 |
601 |
613 |
504 |
|
Total
Assets |
|
|
3,795 |
3,300 |
3,283 |
|
Current
Assets |
|
|
3,150 |
2,879 |
|
|
Current
Liabs |
|
|
948 |
803 |
|
|
Net
Worth |
|
|
2,605 |
2,340 |
2,065 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.Ttl
in Million (¥) |
|
|
300 |
378 |
490 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.76 |
7.63 |
-6.09 |
6.78 |
|
Current Ratio |
|
.. |
332.28 |
358.53 |
.. |
|
N.Worth Ratio |
|
.. |
68.64 |
70.91 |
62.90 |
|
R.Profit/Sales |
|
25.29 |
25.14 |
25.96 |
.. |
|
N.Profit/Sales |
|
14.02 |
14.20 |
15.59 |
12.03 |
|
Return On Equity |
|
.. |
23.07 |
26.20 |
24.41 |
Notes: Forecast (or estimated) figures for the 31/03/2015
fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
UK Pound |
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
|
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 |
|
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.