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Report No. : |
336793 |
|
Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
COMPACT TOOLS CO LTD |
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|
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Registered Office : |
2-14-13 Hatanaka Niiza Saitama-Pref 352-0012 |
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|
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Country : |
Japan |
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Financials (as on) : |
28.02.2015 |
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Date of Incorporation : |
Dec., 1969 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Machine Tools
(Air/Electric Tools), Other. |
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No. of Employees : |
59 |
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 |
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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 |
|
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 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 |
COMPACT TOOLS CO LTD
REGD NAME: Compact
Tool KK
MAIN OFFICE: 2-14-13
Hatanaka Niiza Saitama-Pref 352-0012 JAPAN
Tel: 048-478-1500 Fax: 048-477-0777
URL: http://www.compacttool.com
E-Mail address: (thru
the URL)
Mfg of
machine tools (air/electric tools), other
Sapporo,
Sendai, Nagoya, Kawagoe, Osaka, Fukuoka
At the
caption address
MAKOTO
ISHIDA, PRES
Fujiko
Satoh, ch
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen
1,310 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 50
M
TREND SLOW WORTH Yen
900 M
STARTED 1969 EMPLOYES 59
MFR OF MACHINE WORKING TOOLS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established by Husband of Fujiko Satoh, now CH, in order to
make most of his experience in the subject line of business. This is a specialized mfr of
machine working tools, air/electric tools, other (See OPERATION). Products are widely exported to USA, S/E Asia,
other. Clients include mfrs,
wholesalers, other.
The
sales volume for Feb/2015 fiscal term amounted to Yen 1,310 million, a 4% down
from Yen 1,369 million
in the previous term. The operations plunged into the red to post Yen 22 million
net losses for the term, compared with Yen 27 million net profit a year ago.
For the current term ending Feb 2016 the net profit is
projected at Yen 30 million, on a 5% rise in turnover, to Yen 1,375
million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Dec 1969
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued:
100,000 shares
Sum: Yen 50 million
Major shareholders (%):
Fujiko Satoh (27), Shigemi Satoh (25), Mitsuaki Tanaka (8), Hitomi Satoh (7)
No. of shareholders: 24
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures machine working tools:
dust collectors, air sanders, straight sanders, belt sanders, drills, ratchet
wrench, air saw, other (--100%)
Clients: [Mfrs, wholesalers] Sankyo Rikagaku Co
(25%), COPAX Co (10%), Alpha Professional (7%), Sumitomo 3M Ltd (6%), Ohtsuka
Brush Mfg, Nippon Resipon Corp, other
Exports to USA, S/E Asia,
other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Shinmei Sangyo,
Nomizu Machine Mfg, Abilita Co, Makita Mfg, NSK Ltd, other
Payment record: Slow but correct
Location:
Business area in Niiza City, Saitama-Pref. Office premises at the caption address are owned and
maintained satisfactory.
Bank References:
Musashino Bank (Asaka)
MUFG (Wako-Ekimae)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
|
|
Annual
Sales |
|
1,310 |
1,369 |
1,250 |
1,210 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
-22 |
27 |
39 |
39 |
|
Total
Assets |
|
|
1,823 |
1,306 |
1,259 |
|
Current
Assets |
|
|
1,084 |
1,076 |
1,030 |
|
Current
Liabs |
|
|
324 |
298 |
276 |
|
Net
Worth |
|
|
922 |
896 |
859 |
|
Capital,
Paid-Up |
|
|
50 |
50 |
50 |
|
Div.P.Share(¥) |
|
|
2.00 |
2.00 |
2.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
-4.31 |
9.52 |
3.31 |
5.31 |
|
Current Ratio |
|
.. |
334.57 |
361.07 |
373.19 |
|
N.Worth Ratio |
|
.. |
50.58 |
68.61 |
68.23 |
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
|
-1.68 |
1.97 |
3.12 |
3.22 |
|
Return On Equity |
|
.. |
2.93 |
4.35 |
4.54 |
Notes: Actually
resulted figures for the 28/02/2015 fiscal term, although limited
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.