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Report No. : |
346938 |
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Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
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Name : |
AIEI SANGYO INC |
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Registered Office : |
2-4-32 Kita-Shinbo Sanjo City Niigata-Pref 955-0861 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
November, 1944 |
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Com. Reg. No.: |
1100-01-013810 (Niigata-Sanjo) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Mfg of stamped metal automotive parts & components |
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No. of Employee : |
65 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 29.5 million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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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 |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 |
REGD NAME: AIEI
SANGYO INC
Aiei Sangyo KK
MAIN OFFICE: 2-4-32 Kita-Shinbo Sanjo City Niigata-Pref
955-0861 JAPAN
Tel:
0256-33-0551 Fax: 0256-34-7261
URL: http://www.aiei-sangyo.co.jp
E-Mail address: sanjo@aiei-sangyo.co.jp
Mfg of stamped metal automotive parts & components
Tokyo
Indonesia
At the caption address
MIEKO AIBA, PRES
Shogo Aiba, dir
Nobuyuki Fukasawa, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 966 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
85 M
TREND STEADY WORTH Yen
1,026 M
STARTED 1944 EMPLOYES 65
MFR OF STAMPED METAL AUTOMOTIVE PARTS & COMPONENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 29.5 MILLION, ON 30 DAYS NORMAL
TERMS.
The subject company is a specialized mfr of stamped metal parts & components
for automobiles and other transportation machinery. The firm is now construction a factory in
Indonesia, completing early 2016.
Clients include auto makers, heavy machinery mfrs, other.
Financials are disclosed only partially.
The sales volume for Dec/2014 fiscal term amounted to Yen 966 million, a
4% up from
Yen 933 million in the previous term.
The operations plunged into the deficit to post Yen 39 million net
losses for the term, compared with Yen 41 million net profit a year ago. The deficit this term include extraordinary
losses coming from the heavy investments into a new factory in Indonesia as
aforesaid.
For the current term ending Dec 2015 the net profit is projected at Yen
45 million, on a 5% rise in turnover, to Yen 1,015 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 29.5 million, on 30 days normal terms.
Date Registered: Nov
1944
Regd No.: 1100-01-013810 (Niigata-Sanjo)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 680,000 shares
Issued:
170,000 shares
Sum: Yen
85 million
Major shareholders (%): Mieko Aiba
(19.6), Shoji Aiba (19.4), Tatsuo Aiba (5.5), Naoko Aiba (5.2), Company’s
Treasury Stock (4.9), other
No. of
shareholders: 40
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
stamped metal parts & components for automobiles and transportation
machinery, other (--100%)
Clients: [Mfrs,
wholesalers] UD Trucks, Fukoku Co, Ohkuma Seisakusho, Nabtesco Automotive,
Nissan Kohki Co, Saitama Kiki Co, Ohara Corp, Japan Dresser, Daiichi Kogyo Co,
other
No.
of accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] JFE Shoji Trading, Niigata Steel, Niigata Kanpoh Steel Group, UD
Trucks, Mitsuike Corp, Matsunawa Bungoro Shoten Co, Aiba Shoji, Fujita Metal,
other
Payment record: Slow but Correct
Location: Business
area in Sanjo City, Niigata-Pref. Office
premises at the caption address are owned and maintained satisfactory.
Bank References:
Daishi
Bank (Sanjo)
Sanjo
Shinkin Bank (Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2015 |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
Annual Sales |
|
1,015 |
966 |
933 |
1,001 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
45 |
-39 |
41 |
41 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
1,026 |
1,065 |
1,036 |
|
Capital, Paid-Up |
|
|
85 |
85 |
85 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.07 |
3.54 |
-6.79 |
-0.10 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
4.43 |
-4.04 |
4.39 |
4.10 |
Notes: Financials 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.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
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.