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Report No. : |
349643 |
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Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
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Name : |
AOR LTD |
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Registered Office : |
2-6-4 Misuji Taitoku Toyo 2-6-4 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2015 |
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Date of Incorporation : |
July 1978 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of communication equipment, quartz crystal units, |
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No. of Employees : |
15 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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.
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Source
: CIA |
AOR
LTD
KK AOR
2-6-4 Misuji Taitoku Toyo 2-6-4 JAPAN
Tel: 03-3865-1695 Fax: 03-3865-1697
URL: http://www.aorja.com
E-Mail address: (thru the URL)
Import, export, wholesale of communication
equipment, quartz crystal units, etc
Nagasaki
USA, UK (--subsidiaries)
SHIGERU TAKANO, PRES
Hoichi Nishimura, dir
Toshio Tozuka, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 449 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND STEADY WORTH Yen 139 M
STARTED 1978 EMPLOYES 15
TRADING FIRM SPECIALIZING IN COMMUNICATION EQUIPMENT.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company is a trading
firm specializing in communication equipment & devices, wireless products,
meteorological observation equipment, quartz crystal units & oscillators,
other. Has subsidiaries in USA and
UK.
Financials are disclosed only
partially.
The sales volume for May/2015 fiscal
term amounted to Yen 449 million, a 3% up from
Yen
435 million in the previous term. The
net profit was posted at Yen 15 million, compared with Yen 10 million a year
ago.
For the current term ending May 2016
the net profit is projected at Yen 16 million, on a 4% rise in turnover, to Yen
465 million.
The financial situation is
considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered:
Jul 1978
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000
shares
Sum: Yen
10 million
Major
shareholders (%): Shigeru Takano (50), other
No. of
shareholders: 6
Nothing detrimental is known as
to the commercial morality of executives.
Activities: A
trading firm for import, export and wholesale of: communication equipment &
devices, wireless products, meteorological observation equipment, quartz
crystal units & oscillators, others (--100%)
Clients:
[Mfrs, wholesalers] AOR USA Inc, Mitsubishi Electric, Fuji Musen Denki, HS
Arai, Elematec Corp, W&S UK, other
No.
of accounts: 200
Domestic
areas of activities: Centered in the greater-Tokyo
Suppliers:
[Mfrs, wholesalers] GCOMM Co, Sunlead Co, Meiko Electronic, other
Payment record: Slow But Correct
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactory.
Bank References:
Mizuho
Bank (Inaricho)
SMBC
(Ueno)
Relations:
Satisfactory
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Terms Ending: |
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31/05/2016 |
31/05/2015 |
31/05/2014 |
31/05/2013 |
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Annual Sales |
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465 |
449 |
435 |
482 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
16 |
15 |
10 |
10 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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|
139 |
124 |
114 |
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Capital, Paid-Up |
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|
10 |
10 |
10 |
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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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S.Growth Rate |
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3.56 |
3.22 |
-9.75 |
0.42 |
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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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3.44 |
3.34 |
2.30 |
2.07 |
Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 31/05/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.79 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
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Analysis Done by
: |
AMR |
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Report Prepared
by : |
DPT |
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 |
-- |
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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.