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Report No. : |
322521 |
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Report Date : |
14.05.2015 |
IDENTIFICATION DETAILS
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Name : |
APOLLO ELECTRIC CO LTD |
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Registered Office : |
1600-11Sagisaka-Naka Iwata City Shizuoka-Pref 438-0004 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2013 |
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Date of Incorporation : |
December 1968 |
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Com. Reg. No.: |
0304-01-015675 (Shizuoka-Iwata) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures low voltage & high voltage transformer,
reactor, high voltage transformers or medical equipment, vibration
semiconductor equipment, ;power supply, battery charger for welfare
equipment, battery charger for automobile, motorcycle & AGU (automobile
guard vehicles), electric mobile, system equipment,, medical equipment. |
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No. of Employee : |
64 |
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 – 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. 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 |
APOLLO ELECTRIC CO LTD
REGD NAME: Apollo
Denki KK
MAIN OFFICE: 1600-11Sagisaka-Naka
Iwata City Shizuoka-Pref 438-0004 JAPAN
Tel: 0538-38-2228
Fax: 0508-38-2898
URL: http://www.apollo-elec.co.jp
E-Mail
address: (thru the URL
Mfg of
transformer, power supply, battery charger
Tokyo,
Machida
China
Hamamatsu,
Kyoto
SATORU
OTA, PRES Akira Ota, ch
Kazuaki
Iida, dir Sadao
Ota, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen
1,495 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen 50
M
TREND UP WORTH Yen 120 M
STARTED 1968 EMPLOYES 64
MFR OF VOLTAGE TRANSFORMER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Akira Ota, now ch at the firm, in order to make most of his experience in the subject line of business. Satoru Ota is his son, who took the pres office in July 2008. This is a specialized mfr of low & high voltage transformer, rector, high voltage transformer or medical equipment, vibration coil, semiconductor production equipment, other. Clients include electric mfrs, engine mfrs, other.
Financials are only partially disclosed for the 30/11/2014 fiscal term. Profits are not disclosed and only estimated.
The sales volume for Nov/2014 fiscal term amounted to Yen 1,495 million, a 3% up from Yen 1,452 million in the previous term. The net profit is estimated posted at Yen 10 million, compared with Yen 6 million a year ago.
For the current term ending Nov 2015 the net profit is projected at Yen 15 million, on a 3% rise in turnover, to Yen 1,550 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1968
Regd No.: 0304-01-015675 (Shizuoka-Iwata)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 100.000 shares
Sum: Yen 50 million
Major shareholders (%): Employees’ S/Holding Assn (38), Akira Ota (25), Satorui Ota (15), Kazuko Atsumi (5), Sadao Ota (5)
No. of shareholders: 9
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures low voltage & high voltage transformer, reactor, high voltage transformers or medical equipment, vibration semiconductor equipment, ;power supply, battery charger for welfare equipment, battery charger for automobile, motorcycle & AGU (automobile guard vehicles), electric mobile, system equipment,, medical equipment, other (--100%)
Clients: [Mfrs, wholesalers] Oki Electric, Shimadzu Corp, Recom Co, Hamamatsu Photonix Co, Yamaha Motor, Panasonic Storage Battery, , Shizuoka Seiki, Salom Electric Japan, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Panasonic Industry Sales, Salom Electric Japan, Osaka Dengyosha, Okamoto Wireless Electric, Kyoritsu High Frequency, Sonic Technology Co, Shoei Print Mfg, other
Payment record: Slow but correct
Location: Business area in Shizuoka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Shizuoka Bank (Hamamatsu-Chuo)
Hamamatsu Shinkin Bank (Toyoda)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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30/11/2014 |
30/11/2013 |
30/11/2012 |
30/11/2011 |
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Annual
Sales |
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1,495 |
1,452 |
982 |
1,093 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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10 |
6 |
-88 |
1 |
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Total
Assets |
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N/A |
1,028 |
1,049 |
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Net
Worth |
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|
120 |
114 |
203 |
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Capital,
Paid-Up |
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50 |
50 |
50 |
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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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2.96 |
47.86 |
-10.16 |
21.18 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
11.09 |
19.35 |
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N.Profit/Sales |
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0.67 |
0.41 |
-8.96 |
0.09 |
Notes:
Financials are only partially disclosed as from the 30/11/2013 fiscal term
Actual
figures for the 30/11/2014 fiscal term, although only partially disclosed.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.19 |
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|
1 |
Rs.100.58 |
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Euro |
1 |
Rs.72.08 |
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.