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Report No. : |
311093 |
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Report Date : |
18.03.2015 |
IDENTIFICATION DETAILS
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Name : |
SEAL TECH INC |
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Registered Office : |
Kitahara Bldg. 7-32-2 Nishi Kamata Ohtaku
Tokyo 144-0051 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 (Estimated) |
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Date of Incorporation : |
June 1987 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Engaged in Selling/Importing of Gasket, Opening/Closing Valve, Spring Energized Polymer Seals which are used for Fluid Leakage Prevention & also can be applied to various type of friction such as Reciprocasting, Rotary, Static, Vacuum, High Pressure, High Temperature, Cryogenic, Low Torque and Chemical Resistance. · Subject also Provides Gaskets, Opening/Closing Valve and Specially Designed Valve |
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No of Employees : |
23 |
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 6 Million |
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Status : |
Moderate |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
|
Source
: CIA |
SEAL TECH INC
SEAL TECH KK
Kitahara Bldg. 7-32-2
Nishi Kamata Ohtaku Tokyo 144-0051 JAPAN
Tel:
03-3734-1701 Fax: 03-3734-1703
URL: http://www.sealtech.co.jp
E-Mail address: (thru the URL)
· Engaged in Selling/Importing of Gasket, Opening/Closing Valve, Spring Energized Polymer Seals which are used for Fluid Leakage Prevention & also can be applied to various type of friction such as Reciprocasting, Rotary, Static, Vacuum, High Pressure, High Temperature, Cryogenic, Low Torque and Chemical Resistance.
·
Subject also Provides Gaskets, Opening/Closing
Valve and Specially Designed Valve
Osaka
KENSUKE
NISHIMURA,PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 991 M
PAYMENTSNo Complaints
CAPITAL Yen 15 M
TREND UP WORTH Unavailable
STARTED 1987 EMPLOYES 23
SELLER/IMPORTER/ SOLUTION PROVIDER FOR PRODUCTS OF SEA GASKET WHICH ARE
USED FOR FLUID LEAKAGE PREVENTION.
FINANCIAL SITUATION COSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 6 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Kensuke Nishimura in 1987. Since then, it has developed as a specialized trading company through selling Spring Energized Teflon Seal of Saint-Gobain Performance Plastics Corp in U.S.A. In addition, it started to offer rotary unions and electrical slip rings of GAT mbh in Germany. It also provides gaskets, opening/closing valve and specially designed valve
The sales volume for March 2014 fiscal term amounted to Yen 991 million,
a 16% up from Yen 852 million in the previous term. The net profit amounted at Yen 40 million,
which is sharp increase from Yen 18 million in 2013.
For the current term ending March 2015, the net profit at Yen 41 million
is estimated based on a 3% rise in turnover, to Yen 1,021 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 6 million, on 30 days normal terms.
Date Registered: June
1987
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: Unavailable
Issued: Unavailable
Sum: Yen 15
million
Major shareholders (%):
Kensuke Nishimura(48), Kimiyasu Kato(25), Koichi Kato(6)
No. of shareholders: Unavailable
Listed on the S/Exchange (s) of: None
Managements: KENSUKE NISHIMURA,
PRES; Koichi Kato, sr/mgn/dir; Takashi
Shiratori, mgn/dir Mitsuru Nishimura,
mgn/dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies: None
Activities:
· Engaged in Selling/Importing of Gasket, Opening/Closing Valve, Spring Energized Polymer Seals which are used for Fluid Leakage Prevention & also can be applied to various type of friction such as Reciprocasting, Rotary, Static, Vacuum, High Pressure, High Temperature, Cryogenic, Low Torque and Chemical Resistance.
·
Subject also Provides Gaskets, Opening/Closing
Valve and Specially Designed Valve
Clients: [Mfrs, wholesalers]
Nigata Loading Systems Corp, Toshiba Corp, Fuji Heavy
Industries Corp, other
No. of accounts:
Unavailable
Domestic areas of
activities: Tokyo
Suppliers: [Mfrs, wholesalers] Saint-Gobain
Performance Plastics Corp(U.S.A.), Transpack Sales Corp (U.S.A)
Payment record: No
Complaints
Location: Business area in Tokyo. Office premises at the caption address are
maintained satisfactorily.
Bank References:
Mizuho
Corporate Bank (Ginzadori)
MUFG
(Kamata)
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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1,021 |
991 |
852 |
856 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
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41 |
40 |
18 |
12 |
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Total Assets |
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Net Worth |
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Capital, Paid-Up |
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Div.P.Share(¥) |
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0.00 |
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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3.00 |
16.31 |
-0.47 |
-3.93 |
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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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4.04 |
4.04 |
2.11 |
1.40 |
* Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.69 |
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UK Pound |
1 |
Rs.92.99 |
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Euro |
1 |
Rs.66.37 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
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.