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MIRA INFORM REPORT
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Report No. : |
507150 |
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Report Date : |
02.05.2018 |
IDENTIFICATION DETAILS
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Name : |
JST MFG CO LTD |
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Registered Office : |
2-4-8 Minamisemba Chuoku Osaka |
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Country : |
Japan |
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Financials (as on) : |
31.03.2017 |
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Date of Incorporation : |
September 1957 |
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Com. Reg. No.: |
1200-01-093045 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures Solderless Terminals,
Connectors, Others. |
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No. of Employees : |
866 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
JAPAN - ECONOMIC OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work
ethic, mastery of high technology, and a comparatively small defense allocation
(slightly less than 1% of GDP) have helped Japan develop an advanced economy.
Two notable characteristics of the post-World War II 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 have significantly eroded under the dual
pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price
differences, Japan in 2017 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. For three postwar decades, overall real economic
growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in
the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely
because of the aftereffects of inefficient investment and the collapse of an
asset price bubble in the late 1980s, which entailed considerable 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.
Japan enjoyed an 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. Led by
the Bank of Japan’s aggressive monetary easing, Japan is making modest progress
in ending deflation, but demographic decline – a low birthrate and an aging,
shrinking population – poses a major long-term challenge for the economy. The
government currently faces the quandary of balancing its efforts to stimulate
growth and institute economic reforms with the necessity of addressing its
sizable public debt, which stands at 235% of GDP. To help raise government
revenue, Japan adopted legislation in 2012 to gradually raise the consumption
tax rate. However, the first such increase, in April 2014, led to another
recession, so Prime Minister ABE has twice postponed the next increase, now scheduled
for October 2019. Structural reforms to unlock productivity are seen as central
to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on
imported energy and raw materials. After the complete shutdown of Japan’s
nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's
industrial sector has become even more dependent than before on imported fossil
fuels. However, ABE’s government is seeking to restart nuclear power plants
that meet strict new safety standards and is emphasizing nuclear energy’s
importance as a base-load electricity source. In August 2015, Japan
successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in
Kagoshima prefecture, and several other reactors around the country have since
resumed operations; however, opposition from local governments has delayed
several more restarts that remain pending. Reforms of the electricity and gas
sectors, including full liberalization of Japan’s energy market in April 2016
and gas market in April 2017, constitute an important part of Prime Minister
Abe’s economic program.
In October 2015, Japan and 11 trading partners reached agreement on the
Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's
economy to increased foreign competition and create new export opportunities
for Japanese businesses. Japan was the first country to ratify the TPP in
December 2016; the United States signaled its withdrawal from the TPP in
January 2017, and in November 2017 the remaining 11 countries agreed on the
core elements of a modified agreement, which they renamed the Comprehensive and
Progressive Agreement for Trans-Pacific Partnership (CPTPP).
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Source
: CIA |
Company
name & address
JST MFG CO LTD
REGD
NAME: Nihon
Acchaku Tanshi Seizo KK (Acchaku means solderless, Tanshi means Terminals and
Seizo means Mfg in Japanese).
MAIN OFFICE: 3-4-7
Doshomachi Chuoku Osaka 541-0045 Japan
Tel:
06-6210-2104 Fax: 06-6210-2132
* Registered
at: 2-4-8 Minamisemba Chuoku Osaka
E-Mail address: (thru
the URL)
ACTIVITIES: Mfg
of solderless terminals, connectors
BRANCHES: Utsunomiya,
Yokohama, Hachioji, Nagano, Nagoya, Osaka, Kurayoshi, Hiroshima, Fukuoka, other
(Tot 12)
OVERSEAS: Europe (8), China (4),
Thailand, Korea, USA, other (Tot 40)
FACTORIES: Kurayoshi,
Okayama, Tsuyama, Utsunomiya; Malaysia (3), China, Korea, other
OFFICER(S): MASAO
YOSHIMURA, PRES Yoshinori Matsuda, rep
dir
Miyoko
Nishimoto, ch Mitsuhiro
Takahashi, dir
Eriko
Takahashi, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES GOOD A/SALES Yen 71,663 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND SLOW WORTH Yen
151,520 M
STARTED 1957 EMPLOYES 866
COMMENT: MFR OF SOLDERLESS TERMINALS & CONNECTORS. FINANCIAL SITUATION CONSIDERED GOOD TO EXCELLENT AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Teiji Takahashi in order to mfr and market solderless terminals. This is the first Japan’s mfr of solderless terminals (which was named as Acchaku Tanshi in Japanese and is used in Japanese Industrial Standard). The firm has been succeeded by his descendants. Masao Yoshimura took the pres office in Mar 1993. Specializes in mfg terminals & connectors as mainstay, application tools & machines, others, widely used in electronics industry. Domestically tops in the particular products. Active in overseas operations with global mfg sites & sales networks.
FINANCIAL
INFORMATION
Financials are only partially disclosed as from the Mar/2006 fiscal term.
The sales volume for Mar/2017 fiscal term amounted to Yen 71,665 million, an 11% down from Yen 80,506 million in the previous term. The net profit was posted at Yen 4,044 million, compared with Yen 4,517 million a year ago.
For the current term ending Mar 2018 the net profit is projected at Yen 4,100 million, on a 3% rise in turnover, to Yen 73,800 million.
The financial situation is considered GOOD to EXCELLENT and responsible for ORDINARY business engagements.
REGISTRATION
Date Registered: Sept 1957
Regd No.: 1200-01-093045
(Osaka-Chuoku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 1.4 million shares
Issued: 1.4 shares
Sum: Yen 30 million
Major
shareholders (%): Miyoko Nishimoto
(84.6), Masao Yoshimura, Yoshinori Matsuda, Mitsuhiro
Takahashi, Eriko Takahashi (--15.4)
No. of shareholders: 5
Nothing detrimental
is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures Solderless Terminals,
Connectors, Others (--100%):
(Mfg
items): Wire to rod crimp style connectors, wire to board insulation
displacement connectors, board to board connector4s, card edge connectors,
FFC/FPC connectors, ribbon cable connectors, headers/jumpers/compression type
connectors, card connectors, coaxial or optical fiber connectors, interface
connection connectors, wire to wire connectors, chain terminals/splices,
solderless terminals, solderless splices, shunt wires, application
tools/machines, DIN type chain terminals/splices, DIN type solderless
terminals/splices, automation connectors, others.
Clients: [Electronics
mfrs] Hitachi Ltd, Toshiba Corp, Sony Corp, Sharp Corp, Mitsubishi Electric,
Panasonic Corp, Matsushita Electric Ind, Sanyo Electric, Hitachi Wire Finetech,
Yumex Co, other.
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Dowa Electronics, Toray Ind, Hitachi Metal Asahi Chemical Ind,
Komatsu Light Mfg, Nippon Steel & Sumitomo Metal Ind, other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Namba)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2018 |
31/03/2017 |
31/03/2016 |
31/03/2015 |
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Annual
Sales |
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73,800 |
71,663 |
80,506 |
85,649 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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4,100 |
4,044 |
4,517 |
9,534 |
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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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151,520 |
147,476 |
142,959 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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2.98 |
-10.98 |
-6.00 |
-4.62 |
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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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5.56 |
5.64 |
5.61 |
11.13 |
Notes:
Financials are
only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.78 |
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1 |
INR 92.89 |
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Euro |
1 |
INR 80.74 |
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YEN |
1 |
INR 0.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.