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Report No. : |
305406 |
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Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL SERVICE CO LTD |
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Registered Office : |
166-3 Isabe Higashikakicho Kakogawa City Hyogo-Pref 675-0056 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
September 1987 |
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Com. Reg. No.: |
1400-01-042487
(Hyogo-Kakogawa) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Exports used die-casting machines, injection molding
machines |
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No. of Employee : |
10 |
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) |
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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 |
INTERNATIONAL SERVICE CO LTD
REGD NAME: International
Service KK
MAIN OFFICE: 166-3
Isabe Higashikakicho Kakogawa City Hyogo-Pref 675-0056 JAPAN
Tel: 079-432-2300
Fax: 079-432-2728
URL: N/A
ACTIVITIES: Export of used die-casting machines,
injection molding machines
BRANCHES: Nil
FACTORIES: Kakogawa (warehouse)
OFFICERS: ETSUKO AKAMATSU, PRES
So
Akamatsu, s/mgn dir
Hiroshi Kajiwara, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY: FINANCES R/WEAK A/SALES Yen 232 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 10 M
TREND UP WORTH Yen 11 M
STARTED 1987 EMPLOYES 10
COMMENT: EXPORTER OF USED DIECASTING MACHINES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was
established by Jun Akamatsu in order to make most of his experience in the
subject line of business. Etsuko is his
wife, who took the pres office in Apr 2012. This is a family-based trading firm
for exporting used die-casting machines, injection molding machines,
other. Exports to China, S/E Asia,
other. Goods are supplied from domestic
machinery makers.
Financials are only partially disclosed as is the case with
family-based companies.
The sales volume for Mar/2014 fiscal term amounted to Yen
232 million, a 27% up from Yen 183 million in the previous term. The operations continued in the red to post
Yen 2 million net loss, compared with Yen 8 million net loss a year ago.
For the current term ending Mar
2015 the operations are projected to come back to profitability to post Yen 5
million net profit, on a 6% rise in turnover, to Yen 245 million.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Date Registered: Sept
1987
Regd No.: 1400-01-042487
(Hyogo-Kakogawa)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum: Yen
10 million
Major shareholders (%): Etsuko Akamatsu (--100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports used die-casting machines,
injection molding machines, other (--100%)
Clients: [Mfrs, wholesalers] Exports to China,
S/E Asia, other
No. of accounts: Unavailable
Domestic areas of activities:
Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Toyo Machinery
& Metal Co, Sango Corp, Iwabuchi Netsukiden Co, Toshiba Machinery Co, other
Payment record: Slow but correct
Location: Business area in Kakogawa,
Hyogo-Pref. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
Minato Bank (Miki)
SMBC (Kakogawa)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
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245 |
232 |
183 |
209 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
5 |
-2 |
-8 |
-8 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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11 |
13 |
21 |
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Capital,
Paid-Up |
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|
10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
5.60 |
26.78 |
-12.44 |
-17.39 |
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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 |
|
2.04 |
-0.86 |
-4.37 |
-3.83 |
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.61.46 |
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|
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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.