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Report No. : |
333534 |
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Report Date : |
23.07.2015 |
IDENTIFICATION DETAILS
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Name : |
JL CORPORATION |
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Registered Office : |
1-4-9 Awaza Nishiku Osaka 550-0011 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2015 |
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Date of Incorporation : |
July, 1995 |
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Com. Reg. No.: |
1200-01-044198 (Osaka-Nishiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of Used Construction Machinery. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 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.
|
Source
: CIA |
JL CORPORATION
REGD NAME: JL
Corporation KK
MAIN OFFICE: 1-4-9
Awaza Nishiku Osaka 550-0011 JAPAN
Tel: 06-6535-1115 Fax: 06-6535-0222
URL: N/L
Export of used
construction machinery
Nil
S/E Asia
(--business partners)
TAKURYO RA, PRES
Mijun Wang, dir
Shuko Ra, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 10 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 1,100 M
TREND SLOW WORTH Yen 675 M
STARTED 1995 EMPLOYES 5
EXPORTER OF USED CONSTRUCTION MACHINERY.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
This is a trading
firm specializing in exporting used construction machinery (except tractors,
cranes), to S/E Asian countries (Hong Kong, Thailand, Singapore, other). Goods
are supplied from construction machinery makers, auction markets, other.
Financials are
disclosed only partially. Profits are not
disclosed and only estimated.
The sales volume
for May/2014 fiscal term amounted to Yen 1,100 million, a similar amount in the
previous term. The net profit is estimated posted at Yen 50 million, similarly
in the previous term.
For the term that
ended May 2015 the net profit was projected at Yen 52 million, on a 3% rise in
turnover, to Yen 1,130 million. Final
results are yet to be released.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered: July, 1995
Regd No.:
1200-01-044198 (Osaka-Nishiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Takuryo Ra (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading firm
for export of used construction machinery (except tractors, cranes), other
(--100%)
Clients: [Mfrs, wholesalers]
Exports to S/E Asian countries (Singapore, Hong Kong, Taiwan Thailand, other),
other
No. of accounts: Unavailable
Domestic areas of activities: Centered in
the greater-Osaka
Suppliers: [Mfrs,
wholesalers] Construction machinery makers, construction companies, auction
markets, other
Payment
record: Slow but correct
Location: Business area in Osaka. Office premises at the caption address are leased
and maintained satisfactorily.
Bank References:
MUFG (Umeda)
SMBC (Itachibori)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/05/2015 |
31/05/2014 |
31/05/2013 |
31/05/2012 |
|
Annual
Sales |
|
1,130 |
1,100 |
1,100 |
1,100 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
52 |
50 |
50 |
50 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
675 |
625 |
575 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.73 |
0.00 |
0.00 |
-18.52 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
4.60 |
4.55 |
4.55 |
4.55 |
Notes: Financials are only partially
disclosed. Profits are not disclosed and
only estimated
Forecast (or
estimated) figures for the 31/05/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.53 |
|
|
1 |
Rs.99.19 |
|
Euro |
1 |
Rs.69.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
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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 |
|
|
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.