|
Report Date : |
18.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
NIPPON CORROSION ENGINEERING CO LTD |
|
|
|
|
Registered Office : |
Showa Bldg 7F, 1-21-12 Minami-Kamata Ohtaku Tokyo 144-0035 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.09.2011 |
|
|
|
|
Date of Incorporation : |
September 1949 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Engineering firm of cathodic protection system,
chlorination systems |
|
|
|
|
No. of Employees : |
197 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
-- |
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 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
NIPPON CORROSION ENGINEERING CO LTD
REGD NAME: Nihon
Boshoku Kogyo KK
MAIN OFFICE: Showa
Bldg 7F, 1-21-12 Minami-Kamata Ohtaku Tokyo 144-0035 JAPAN
Tel: 03-3737-8400
Fax: 03-3737-8479
E-Mail address: (thru the URL)
Engineering firm of
cathodic protection system, chlorination systems
Sendai, Kanagawa,
other (Tot 14)
Odawara, Nagasaki
TAIZO NAKAMURA,
PRES Yuji Sakuragi, mgn dir
Yoshio Morishima,
mgn dir Masashi Suzuki, dir
Junzo Iwasaki, dir Mutsuo Shirahama, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,728 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
144 M
TREND SLOW WORTH Yen
1,970 M
STARTED 1949 EMPLOYES 197
ENGINEERING FIRM OF CATHODIC PROTECTION SYSTEM.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established
on the basis of a division separated from Mitsubishi Corp and later became
independent. This is an engineering firm
specializing in cathodic protection system and related for plants, power
stations, vessels, other. It founded a
holding company, NCE Holdings Inc, and became its subsidiary. 30% of the works are for public and
government works. Clients include power
stations, plant engineering firms, other.
Thee sales volume for Sept/2011
fiscal term amounted to Yen 6,728 million, a 4% down from Yen 7,026 million in
the previous term, as affected by the Great North Japan Earthquake and tsunami
that occurred in Mar 2011. The recurring
profit was posted at Yen 428 million and the net profit at Yen 247 million,
respectively, compared with Yen 499 million recurring profit and Yen 280
million net profit, respectively, a year ago.
For the current term ending Sept
2012 the recurring profit is projected at Yen 440 million and the net profit at
Yen 260 million, respectively, on a 4% rise in turnover, to Yen 7,000
million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered:
Sept 1949
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 11.5 million shares
Issued: 2.88 million shares
Sum: Yen 144 million
Major
shareholders (%): NCE Holdings Inc* (25), Employees S/Holding inc (22)
*.. Holding company owned by the firm
No. of shareholders: 49
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Engineering
firm: design, engineering, survey, analysis and material supply, construction,
supervising for cathodic protection systems, chlorination system for plants,
power stations, vessels, other (-100)
Clients: [Mfrs,
wholesalers] Public agencies (30%), Mitsubishi Corp (25%), Tokyo Gas, Tokyo
Electric Power, IHI Corp, Chiyoda Corp, Penta Ocean Construction Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Corporation Unimetals Co (20%), Furukawa Battery Co, Mitsubishi
Materials, Ube Ind, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Shin-Marunouchi)
Mizuho Corporate
Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2012 |
30/09/2011 |
30/09/2010 |
30/09/2009 |
|
|
Annual
Sales |
|
7,000 |
6,728 |
7,026 |
7,794 |
|
Recur.
Profit |
|
440 |
428 |
499 |
|
|
Net
Profit |
|
260 |
247 |
280 |
363 |
|
Total
Assets |
|
|
3,660 |
3,499 |
4,139 |
|
Current
Assets |
|
|
3,129 |
2,980 |
|
|
Current
Liabs |
|
|
1,256 |
1,348 |
|
|
Net
Worth |
|
|
1,970 |
1,746 |
1,485 |
|
Capital,
Paid-Up |
|
|
144 |
144 |
144 |
|
Div.Ttl
in Million(₯) |
|
|
45 |
45 |
32 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.04 |
-4.24 |
-9.85 |
-7.17 |
|
|
Current Ratio |
|
.. |
249.12 |
221.07 |
.. |
|
N.Worth Ratio |
.. |
53.83 |
49.90 |
35.88 |
|
|
R.Profit/Sales |
|
6.29 |
6.36 |
7.10 |
.. |
|
N.Profit/Sales |
3.71 |
3.67 |
3.99 |
4.66 |
|
|
Return On Equity |
.. |
12.54 |
16.04 |
24.44 |
|
Notes: Forecast (or
estimated) figures for the 30/09/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.87.54 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 SCs 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.