MIRA INFORM REPORT
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Report No. : |
333418 |
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Report Date : |
22.07.2015 |
IDENTIFICATION DETAILS
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Name : |
SUMMIX CORPORATION |
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Registered Office : |
2-27 Kameicho Yao City Osaka-Pref 581-0066 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2014 |
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Date of Incorporation : |
June 1983 |
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Com. Reg. No.: |
1220-01-018570 (Osaka-Yao) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures printing machines, their parts & components, rubber
rollers for printing, other (--100%) |
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No. of Employee : |
4 |
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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Maximum Credit Limit : |
Yen 1.8 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 an 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. Scarce in many natural resources, Japan has long been dependent on imported raw materials. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times since 2008. 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 of that year disrupted manufacturing. The economy has largely recovered in the four years since the disaster, although reconstruction in the affected Tohoku region has lagged, in part due to a shortage of labor in the construction sector. Japan enjoyed a sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary easing, “flexible” fiscal policy, and structural reform. Abe’s government has replaced the preceding administration’s plan to phase out nuclear power with a new policy of seeking to restart nuclear power plants that meet strict new safety standards, and emphasizing nuclear energy’s importance as a base-load electricity source. Japan joined the Trans-Pacific Partnership (TPP) 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 2014 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. While seeking to stimulate and reform the economy, the government must also devise a strategy for reining in Japan's huge government debt, which amounts to more than 230% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8% implemented in April 2014. That increase had a contractionary effect on GDP, however, so PM Abe in late 2014 decided to postpone the final phase of the increase until April 2017 to give the economy more time to recover. Led by the Bank of Japan’s aggressive monetary easing, Japan is making progress in ending deflation, but demographics - low birthrate and an aging, shrinking population - pose major long-term challenges for the economy.
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Source
: CIA |
Company
name and address
SUMMIX CORPORATION
REGD NAME: KK
Summix
MAIN OFFICE: 2-27
Kameicho Yao City Osaka-Pref 581-0066 JAPAN
Tel: 072-992-8325 Fax: 072-994-4572
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of printing
machines, parts & components, rubber roller for printing
BRANCHES
Nil
FACTORIES
Yao
OFFICERS
YOICHI MATSUMURA,
PRES
Toshiko Matsumura,
dir
Keisuke Matsumura,
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 104 M
PAYMENTSSlow CAPITAL Yen 30 M
TREND SLOW WORTH Yen 132 M
STARTED 1983 EMPLOYES 4
COMMENT
MFR OF PRINTING MACHINES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 1.8 MILLION, ON 30 DAYS NORMAL TERMS.
HIGHLIGHTS
This is a family-based mfr of printing machines, their parts & components,
rubber rollers for printing, other.
Products are exported to USA, Europe, Hong Kong, other.
FINANCIAL
INFORMATION
Financials are disclosed only partially.
The sales volume for May/2014 fiscal term amounted to Yen 104 million, a
20% down from Yen 130 million in the previous term. The operations continued in the deficit to
post Yen 7 million net losses, compared with Yen 8 million net losses a year
ago.
For the term that ended May 2015 the operations were projected to come
back to profitability but still limited to a minimum amount post-profits, on a
3% rise in turnover, to Yen 107 million.
Final results are yet to be released.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements. Max credit
limit is estimated at Yen 1.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1983
Regd No.:
1220-01-018570 (Osaka-Yao)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued:
60,000 shares
Sum: Yen 3-0million
Major
shareholders (%): Yoichi Matsumura (50), Toshiko Matsumura (50)
No.
of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures printing
machines, their parts & components, rubber rollers for printing, other
(--100%)
Clients: [Mfrs,
wholesalers] Exports to Europe, USA, Hong Kong, other S/E Asian countries,
other
Also to domestic makers, wholesalers,
other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in the greater-Osaka
Suppliers: [Mfrs,
wholesalers] Meiwa Rubber Co, Naka Seisakusho, Clare Plastics, Gunze Corp,
other
Payment record: Slow
Location: Business area in
Yao City, Osaka-Pref. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (Yao)
Osaka Shinkin Bank
(Yao)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/05/2015 |
31/05/2014 |
31/05/2013 |
31/05/2012 |
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Annual
Sales |
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107 |
104 |
130 |
200 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
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0 |
-7 |
-8 |
-13 |
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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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132 |
139 |
147 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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2.88 |
-20.00 |
-35.00 |
-20.00 |
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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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0.00 |
-6.73 |
-6.15 |
-6.50 |
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/05/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.65 |
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|
1 |
Rs.99.13 |
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Euro |
1 |
Rs.68.91 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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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.