|
Report No. : |
322298 |
|
Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAC CO LTD |
|
|
|
|
Registered Office : |
Chiba Higashi Techno Green Park, 1-12-5 Okayamadai Togane City Chiba-Pref 283-0826 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
April 1974 |
|
|
|
|
Com. Reg. No.: |
000703 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufactures commercial & industrial-use refrigerators, cooling
systems, oil controllers, other (--100%) |
|
|
|
|
No. of Employees : |
13 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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.
|
Source
: CIA |
MAC CO LTD
KK Mac
Chiba Higashi Techno Green Park, 1-12-5 Okayamadai Togane City
Chiba-Pref 283-0826 JAPAN
Tel: 0475-50-1881 Fax:
0475-50-1880
URL: http//:www.macthelife.jp
E-mail: macthelife@nifty.com
ACTIVITIES: Mfg of commercial/industrial-use
refrigerators, cooling system, oil controllers
BRANCHES: Nil
FACTORIES: At the caption address
OFFICER(S): HIROAKI MATSUSHITA, PRES Kazuo Furukawa, dir
Kazuyuki
Matsushita, dir Hiroshi
Ishida, dir
Yen Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 274 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 60 M
TREND SLOW WORTH Yen
137 M
STARTED 1974 EMPLOYES 13
COMMENT: MFR OF REFRIGERATORS. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS, BUT DOUBTFUL FOR
CREDIT ENGAGEMENTS: US$200,000/TERMS O/A 90 DAYS.
This is a specialized mfr of commercial & industrial-use
refrigerators, cooling systems, control boilers, other. Goods are exported. Clients include major heavy machinery makers,
other, nationwide.
Financials are only partially disclosed.
The sales volume for Dec/2014 fiscal term amounted to Yen 274 million, a
28% down from Yen 379 million in the previous term. The net profit was posted at Yen 11 million,
compared with Yen 29 million recurring profit and Yen 29 million net profit,
respectively, a year ago. .
For the current term ending Dec 2015 the net profit is projected at Yen 12
million, on a 4% rise in turnover, to Yen 285 million.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Hence, the proposed amount for 90 days terms is
more than the firm’s financial capacities, and not feasible.
Date Registered: Apr
1974
Regd No.: (Chiba-Togane)
000703
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 48,000 shares
Issued: 12,000 shares
Sum: Yen 60 million
Major shareholders
(%):
Hiroaki Matsushita (50), Sachiko
Matsushata (20), other
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
commercial & industrial-use refrigerators, cooling systems, oil
controllers, other (--100%)
Clients: [Mfrs,
wholesalers] Mitsubishi Heavy Industries, Asahi Glass Co, Okuma Corp, Sojitz
Machinery Corp, Tsuda Industries Co, Yamazaki Mazak Corp, Ulvac Inc, Japan
Viline Co, Hirano Ko-On Co, Chugoku Electric Power, other
Exports to China, India, other S/E Asian countries
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toyo Electric, Yanagawa Tekko Co, Emerson Japan, Japan Oil Pump,
Fuji Electric FA Components & Systems Co, other
Payment record: No Complaints
Location: Business area in
Chiba. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Chiba Bank (Togane)
Keiyo Bank (Togane)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
Annual Sales |
|
285 |
274 |
379 |
273 |
|
Recur. Profit |
|
.. |
.. |
29 |
2 |
|
Net Profit |
|
12 |
11 |
29 |
-60 |
|
Total Assets |
|
|
N/A |
385 |
443 |
|
Net Worth |
|
|
137 |
126 |
97 |
|
Capital, Paid-Up |
|
|
60 |
60 |
60 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.01 |
-27.70 |
38.83 |
-45.94 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
32.73 |
21.90 |
|
N.Profit/Sales |
|
4.21 |
4.01 |
7.65 |
-21.98 |
Notes: Finances are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
|
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 |
|
|
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.