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Report No. : |
348377 |
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Report Date : |
02.11.2015 |
IDENTIFICATION DETAILS
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Name : |
MDI CORPORATION |
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Registered Office : |
2-13-1 Watarida Higashicho Kawasaki City |
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Country : |
Japan |
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Financials (as on) : |
31.08.2014 |
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Date of Incorporation : |
December 2005 |
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Com. Reg. No.: |
0200-01-077359 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures: plate heat exchangers, cooling towers, heat pump chillers, dynamic escapers, scale/titanium/aluminum liquid coolants, other (--100%) |
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No. of Employees : |
8 |
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 : |
Small Company |
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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 |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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.
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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
MDI CORPORATION
REGD NAME: MDI
KK
MAIN OFFICE: 3-12-10
Asada Kawasakiku Kawasaki City Kanagawa-Pref 210-0847 JAPAN
Tel: 044-201-6822
Fax: 044-201-2122
*.. Registered at: 2-13-1 Watarida Higashicho Kawasaki
City
URL: http//:www.mdirect.jp
E-mail: accept@mdirect.jp
ACTIVITIES: Mfg
of heat exchangers, cooling towers, liquid coolant, other
BRANCHES: Nil
FACTORIES: At the caption
address
OFFICER(S): KENJI
IWASAWA, PRES
Hideo Iwasawa, dir
Atsushi Adachi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 340 M
PAYMENT NO COMPLAINTS CAPITAL Yen
10 M
TREND STEADY WORTH Yen 111 M
STARTED 2005 EMPLOYES 8
COMMENT: MFR SPECIALIZING IN HEAT EXCHANGERS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Kenji Iwasawa in order to make most of his experience in the subject line of business. This is a specialized mfg of heat exchangers, cooling towers, liquid coolant, heat pump chillers, other. Goods are exported. Clients include major steel mfrs, chemical mfrs, other, nationwide.
Financials are only partially disclosed. Sales figures for the Aug/2014 fiscal term are not precisely disclosed and only estimated.
The sales volume for Aug/2014 fiscal term is estimated amounted to Yen 340 million, a 16% up from Yen 320 in the previous term. Exports rose. The net profit is estimated posted at Yen 13 million, compared with Yen 10 million a year ago.
For the term that ended Aug 2015 the net profit was projected at Yen15 million, on a 3% rise in turnover, to Yen 350 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 2005
Regd No.:
0200-01-077359
(Kawasaki-Higashicho)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Kenji
Iwasawa (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures: plate heat exchangers, cooling towers, heat pump chillers, dynamic escapers, scale/titanium/aluminum liquid coolants, other (--100%)
Clients: [Steel mfrs,
chemical mfrs, wholesalers] IHI Corp, Yanmar Co, Mitsubishi Heavy Ind and Group
firms, other
Exports to China, other S/E Asian countries
No. of accounts:
300
Domestic areas of
activities: Centered in the greater-Tokyo, including Yokohama
Suppliers: [Mfrs,
wholesalers] Alfa Laval Corp, Tokyo Titanium Co, Alrec, Heatex, Tech Sales,
Hachiyo Engineering Corp, other
Payment record: No Complaints
Location: Business area in
Kawasaki. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Kawasaki)
Kawasaki Shinkin
Bank (H/O)
Relations:
Satisfactory
(In Million
Yen)
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Terms Ending: |
|
31/08/2015 |
31/08/2014 |
31/08/2013 |
31/08/2012 |
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Annual
Sales |
|
350 |
340 |
320 |
280 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
15 |
13 |
10 |
8 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
|
|
111 |
98 |
88 |
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Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
2.94 |
6.25 |
14.29 |
27.27 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
4.29 |
3.82 |
3.13 |
2.86 |
Notes:
Financials are only partially disclosed. Figures for the 31/08/2014 fiscal term are estimated as not precisely disclosed by the firm. Forecast (or estimated) figures for the 31/08/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.99.93 |
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Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
|
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|
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Report Prepared
by : |
TPT |
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 |
|
|
-- |
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.