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Report No. : |
328289 |
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Report Date : |
19.06.2015 |
IDENTIFICATION DETAILS
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Name : |
AGC TECHNOLOGY SOLUTIONS CO LTD |
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Registered Office : |
Cube Kawasaki Bldg 1F, 1-14 Nisshincho Kawasakiku Kawasaki City Kanagawa-Pref 210-0024 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
Dec, 1987 |
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Com. Reg. No.: |
0200-01-087011 (Kawasaki-Kawasakiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of Glass Mfg Facilities/Machinery/Equipment. |
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No. of Employees : |
190 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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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.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. 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 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. The government will continue a
longstanding debate on restructuring the economy and reining in Japan's huge
government debt, which amounts to more than 240% 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 2015, although the government
in 2014 decided to postpone the final phase of the increase until 2017 to give
the economy time to recover from the 2014 increase. 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 |
AGC TECHNOLOGY SOLUTIONS CO LTD
REGD NAME: AGC
Technology Solutions KK
MAIN OFFICE: Cube
Kawasaki Bldg 1F, 1-14 Nisshincho Kawasakiku Kawasaki City Kanagawa-Pref
210-0024 JAPAN
Tel: 044-230-5620 Fax: 044-230-5640
E-Mail address: (thru the URL)
Wholesale of glass
mfg facilities/machinery/equipment
Aichi
Thailand, China
SHINYA MINE, PRES Ikuo Masuda, dir
Hiroaki Katoh, dir Fumiaki
Hayashi, dir
Yukio Yamazaki, dir Takashi Akebono,
dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 29,576 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 50 M
TREND STEADY WORTH Yen 2,377 M
STARTED 1987 EMPLOYES 190
TRADING FIRM SPECIALIZING IN GLASS MFG
FACILITIES/MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
THE PROPOSED AMOUNT FOR 120 DAYS TERMS IS WELL WITHIN THE
FIRM’S FINANCIAL CAPABILITIES.
The subject
company was established on the basis of a trading division separated from Asahi
Glass Co Ltd (See REGISTRATION). This is a trading firm for import, export and wholesale
of glass mfg facilities/machinery/equipment, other. It also offers installation, maintenance,
repairing services. It has overseas
offices in Thailand and China.
The sales volume
for Dec/2014 fiscal term amounted to Yen 29,576 million, a 19% up from Yen
24,871 million in the previous term. The
recurring profit was posted at Yen 916 million and the net profit at Yen 592
million, respectively, compared with Yen 739 million recurring profit and Yen
397 million net profit, respectively, a year ago.
For the current
term ending Dec 2015 the recurring profit is projected at Yen 730 million and
the net profit at Yen 620 million, respectively, on a 5% rise in turnover, to
Yen 31,050 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec
1987
Regd No.:
0200-01-087011
(Kawasaki-Kawasakiku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued:
10,000
shares
Sum: Yen
50 million
Major
shareholders (%): Asahi Glass Co Ltd*
(100)
*.. Top-class maker of glass products for
construction & automobiles,
Tokyo, founded 1950, listed Tokyo S/E, capital Yen 90,873 million, sales Yen 1,348,308 million, net profit Yen 15,943 million, total assets Yen
2,077,338 million, net worth Yen
1,113,126 million, employees 51,114, pres Kazuhiko Ishimura
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading firm
for import, export and wholesale of glass making facilities, machinery &
equipment, other, offering their installation, maintenance, repairing services,
too, other (--100%)
Clients: [Mfrs,
wholesalers] Asahi Glass Co, Nihon Yamamura Glass, Gokoh Shoji, Naruto Salt
Mfg, Shiratori Pharmaceutical, Moriya Corp, Asahi Fiber Glass, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Seikosha Corp, Asahi Diamond Ind, Vuteq Corp, Akebono Kohgyo, Mitsubishi
Material Techno, other
Payment record: No complaints
Location: Business area in
Kawasaki. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
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Annual
Sales |
|
31,050 |
29,576 |
24,871 |
33,634 |
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Recur.
Profit |
|
930 |
916 |
739 |
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Net
Profit |
|
620 |
592 |
397 |
323 |
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Total
Assets |
|
|
12,943 |
8,912 |
9,295 |
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Current
Assets |
|
|
12,597 |
8,532 |
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Current
Liabs |
|
|
10,406 |
6,892 |
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Net
Worth |
|
|
2,377 |
1,885 |
1,587 |
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Capital,
Paid-Up |
|
|
50 |
50 |
50 |
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Div.Ttl
in Million (¥) |
|
|
100 |
100 |
100 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.98 |
18.92 |
-26.05 |
13.56 |
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Current Ratio |
|
.. |
121.06 |
123.80 |
.. |
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N.Worth Ratio |
|
.. |
18.37 |
21.15 |
17.07 |
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R.Profit/Sales |
|
3.00 |
3.10 |
2.97 |
.. |
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N.Profit/Sales |
|
2.00 |
2.00 |
1.60 |
0.96 |
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Return On Equity |
|
.. |
24.91 |
21.06 |
20.35 |
Notes: Forecast (or estimated) figures for the
31/12/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.100.99 |
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Euro |
1 |
Rs.72.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.