|
Report No. : |
322522 |
|
Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUNRISE INDUSTRIES CO LTD |
|
|
|
|
Registered Office : |
2-546 Kawayanagi-cho Koshigaya City Saitama-Pref 343-0827 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
July 1968 |
|
|
|
|
Com. Reg. No.: |
0300-01-064068 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufactures heat exchangers, equipment/facilities, other (--100%) |
|
|
|
|
No. of Employees : |
140 |
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 |
SUNRISE INDUSTRIES
CO LTD
Sunrise Kogyo KK
2-546 Kawayanagi-cho Koshigaya City Saitama-Pref 343-0827 JAPAN
Tel: 048-988-1511 Fax:
048-987-8126
E-Mail address: (thru the URL)
ACTIVITIES: Mfg of heat exchangers
BRANCHES: Kanagawa
OVERSEAS: China
FACTORIES: At the caption address (3), Soka
(Saitama-Pref), Shanghai (China)
OFFICERS: AKIHIRO NAKAYAMA, PRES Susumu Mizoguchi, s/mgn dir
Masayoshi Suzuki,
dir Tadao Yamamoto, dir
Koji Matsui
dir Hanako
Nakayama, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 2,772 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 88 M
TREND UP WORTH
Yen 1,095 M
STARTED 1968 EMPLOYES 140
COMMENT: MFR OF HEAT EXCHANGERS, OTHERS. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FORORDINARY BUSINESS ENGAGEMENTS.
The subject company is a specialized mfr of heat exchangers/equipment
& facilities, other. Has a factory
in Shanghai (China). Products are
exported. Domestic clients include
air-conditioner mfrs, electronic mfrs, other
The sales volume for Jun/2014 fiscal term amounted to Yen 2,772 million,
a 4% up from Yen 2,679 million in the previous term. The recurring profit was posted at Yen 201
million and the net profit at Yen 8 million, respectively, compared with Yen
251 million recurring profit and Yen 164 million net profit, respectively, a
year ago. The profit decline for the
current term is referred to the extraordinary loss coming from investment
costs.
For the current term ending Jun 2015 the recurring profit is projected
at Yen 275 million and the net profit at Yen 170 million, respectively, on a 5%
rise in turnover, to Yen 2,910 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: July
1968
Regd No.: 0300-01-064068 (Saitama-Koshigaya)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 704,000 shares
Issued:
176,000 shares
Sum: Yen
88 million
Major shareholders
(%): Employees’ S/Holding
Assn (70), Akihiro Nakayama (30)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures
heat exchangers, equipment/facilities, other (--100%)
Clients: [Mfrs,
wholesalers] Nakano Refrigerators (30%), Kubota Corp (15%), Mitsubishi Electric
(7%), Takagi Refrigerating Co (7%), Espec Corp (6%), other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] UACJ, Kobelco & Materials Copper Tube Co, Mitsubishi
Aluminium, Nippon Light Metal, Nishiyama Kogyo Co, Metex Co, other
Payment record: No Complaints
Location: Business area in
Koshigaya City, Saitama-Pref. Office
premises at the caption address are owned and maintained satisfactory.
Bank References:
Joyo Bank (Koshigaya)
MUFG (Soka)
Relations: ^Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2015 |
30/06/2014 |
30/06/2013 |
30/06/2012 |
|
|
Annual Sales |
|
2,910 |
2,772 |
2,679 |
2,999 |
|
Recur. Profit |
|
275 |
201 |
251 |
|
|
Net Profit |
|
170 |
8 |
164 |
154 |
|
Total Assets |
|
|
3,063 |
2,672 |
2,746 |
|
Current Assets |
|
|
1,855 |
1,502 |
|
|
Current Liabs |
|
|
934 |
749 |
|
|
Net Worth |
|
|
1,095 |
1,089 |
928 |
|
Capital, Paid-Up |
|
|
88 |
88 |
88 |
|
Div.Ttl in Million (¥) |
|
|
2.64 |
2.64 |
2.64 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.98 |
3.47 |
-10.67 |
22.81 |
|
Current Ratio |
|
.. |
198.61 |
200.53 |
.. |
|
N.Worth Ratio |
|
.. |
35.75 |
40.76 |
33.79 |
|
R.Profit/Sales |
|
9.45 |
7.25 |
9.37 |
.. |
|
N.Profit/Sales |
|
5.84 |
0.29 |
6.12 |
5.14 |
|
Return On Equity |
|
.. |
0.73 |
15.06 |
16.59 |
Notes: Forecast (or estimated) figures for the 30/06/2015 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.