|
Report Date : |
23.08.2012 |
IDENTIFICATION DETAILS
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Name : |
NIPPON PAPER INDUSTRIES CO LTD |
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Registered Office : |
1-2-2
Hitotsubashi Chiyodaku Tokyo 100-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
August
1949 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 009422 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer
of paper & pulp |
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No. of Employees : |
3,650 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 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 |
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Restricted |
C2 |
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Off-credit |
D |
NIPPON PAPER INDUSTRIES CO LTD
Nippon Seishi KK
1-2-2 Hitotsubashi
Chiyodaku Tokyo 100-0003 JAPAN
Tel:
03-6685-1111 Fax: 03-6665-3001
URL: www.np-g.com
E-mail: (thru the URL)
Mfg of
paper & pulp
Tokyo,
Osaka, Nagoya, other (Tot10)
At the
caption address, Osaka, Kushiro, Ishinomaki, Fuji, other (tot 10)
YOSYIO
HAGA, PRES Tsuyoshi
Yamashita, v pres
Masaru
Motomura, s/mgn dir Hidetsugu Yamada,
s/mgn dir
Fumio Manoshiro, mgn dir Isamu Harada, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 467,342 M
PAYMENTS No
Complaints CAPITAL Yen 104,873 M
TREND SLOW WORTH Yen
216,533 M
STARTED 1949 EMPLOYES 3,650
MFG
OF. PULP & PAPER, OWNED BY NIPPON PAPER GROUP INC
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$1,000,000 / O/A 60DAYS
The subject company was established originally in 1949 and in 2001
formed a holding company, Nippon Paper Group Inc, and became its wholly owned
subsidiary. This is the core company in
the group firms, specializing in mfg pulp & paper. Good are both imported and exported. Two factories in Miyagi-Pref were hurt and
damaged by the North Japan Earthquake & Tsunami that hit the area on 11/03/2011. Clients are paper industries, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 467,342
million, an 11% down from Yen 527,019 million in the previous term., as its two
factories (Ishinomaki & Nakoso in Miyagi-Pref) were damaged by the said
Earthquake in March. Recurring profit
was posted at Yen 18,842 million, but the bottom end registered Yen 46,945
million net losses coming from the extraordinary losses relating to the
Earthquake: Yen 19,000 million damage losses, Yen 23,500 million restructuring
costs and investment losses of Yen 32,300 million. This compares with Yen 7,823 million
recurring profit and Yen 36,439 million net losses, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 10,000 million and the net profit at Yen 20,000 million, respectively,
on a 4% rise in turnover, to Yen 486,000 million. Complete operation resumption at
quake-damaged plants will result in volume growth Ishinomaki Plant and others
in May/Sept 2012.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Aug 1949
Regd No.: (Tokyo-Chiyodaku) 009422
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
830 million shares
Issued:
209,746 shares
Sum: Yen 104,873 million
Major shareholders (%):
Nippon Paper Group Inc* (100)
*.. Holding company formed in Mar 2001 via business combination between
Nippon Paper Ind & Daishowa Paper Mfg, one of 2 largest companies in paper
industry, listed Tokyo, Osaka, Nagoya S/E’s, capital Yen 55,730 million, sales
Yen 1,042,436 million, operating profit Yen 36,524 million, recurring profit
Yen 6,057 million, net losses Yen 41,675 million, employees 17,407, pres Yoshio
Haga, concurrently
Consolidated Financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
paper & pulp: newsprint, printing & writing paper, business
communication paper & industrial paper, paper for telephone directories,
thermal paper, other (--100%).
Clients: [Mfrs,
wholesalers] NP Trading Co, Shinsei Pulp & Paper Co, Kokusai Pulp & Paper
Co, Asahi Newspaper, Yomiuri Newspaper, Daishowa Paper Mfg Ind, OG Corp, other,
No. of accounts: 1000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] North Pacific Paper Corp, NP Trading Co, Nippon Paper Lumber Co,
Hokuetsu Kishu Paper, Nippon Daishowa paperboards Co, other .
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho
Corporate Bank (H/O)
SMBC
(H/O)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
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Annual
Sales |
|
486,000 |
467,342 |
527,019 |
546,398 |
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Recur.
Profit |
|
20,000 |
18,842 |
7,823 |
15,179 |
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Net Profit |
|
20,000 |
-46,945 |
-36,439 |
16,310 |
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Total
Assets |
|
|
1,270,034 |
1,311,898 |
1,257,303 |
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Current
Assets |
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|
556,589 |
536,660 |
502,337 |
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Current
Liabs |
|
|
417,886 |
478,681 |
368,311 |
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Net
Worth |
|
|
216,533 |
258,997 |
311,258 |
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Capital,
Paid-Up |
|
|
104,873 |
104,873 |
104,873 |
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Div.Ttl
in million (¥) |
|
|
0.00 |
13,508 |
10,806 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
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S.Growth Rate |
3.99 |
-11.32 |
-3.55 |
-12.76 |
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Current Ratio |
|
.. |
133.19 |
112.11 |
136.39 |
|
N.Worth Ratio |
.. |
17.05 |
19.74 |
24.76 |
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R.Profit/Sales |
|
4.12 |
4.03 |
1.48 |
2.78 |
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N.Profit/Sales |
4.12 |
-10.05 |
-6.91 |
2.99 |
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Return On Equity |
.. |
-21.68 |
-14.07 |
5.24 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
SUPPLEMENTS:
CONSOLIDATED FINANCIALS OF THE PARENT,
NIPPON PAPER GROUP INC
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2012 |
31/03/2011 |
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INCOME STATEMENT |
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Annual Sales |
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1,042,436 |
1,099,817 |
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Cost of Sales |
803,653 |
854,238 |
|||
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GROSS PROFIT |
238,783 |
245,579 |
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Selling & Adm Costs |
202,259 |
209,970 |
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OPERATING PROFIT |
36,524 |
35,608 |
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Non-Operating P/L |
-30,467 |
-4,009 |
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RECURRING PROFIT |
6,057 |
31,599 |
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NET PROFIT |
-41,675 |
-24,172 |
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BALANCE SHEET |
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Cash |
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119,363 |
104,826 |
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Receivables |
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205,182 |
210,750 |
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Inventory |
|
154,897 |
141,356 |
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Securities, Marketable |
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Other Current Assets |
66,902 |
58,460 |
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TOTAL CURRENT ASSETS |
546,344 |
515,392 |
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Property & Equipment |
752,501 |
798,482 |
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Intangibles |
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23,789 |
25,974 |
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Investments, Other Fixed Assets |
205,001 |
220,744 |
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TOTAL ASSETS |
1,527,635 |
1,560,592 |
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Payables |
|
127,975 |
110,078 |
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Short-Term Bank Loans |
212,231 |
272,788 |
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Other Current Liabs |
157,571 |
167,419 |
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TOTAL CURRENT LIABS |
497,777 |
550,285 |
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Debentures |
|
48,000 |
68,000 |
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Long-Term Bank Loans |
555,724 |
461,923 |
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Reserve for Retirement Allw |
29,274 |
31,237 |
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Other Debts |
|
30,208 |
40,384 |
||
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TOTAL LIABILITIES |
1,160,983 |
1,151,829 |
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MINORITY INTERESTS |
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Common
stock |
55,730 |
55,730 |
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Additional
paid-in capital |
266,252 |
266,254 |
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Retained
earnings |
50,849 |
95,014 |
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Evaluation
p/l on investments/securities |
1,866 |
(6,873) |
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Others |
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(6,738) |
(67) |
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Treasury
stock, at cost |
(1,307) |
(1,296) |
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TOTAL S/HOLDERS` EQUITY |
366,652 |
408,762 |
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TOTAL EQUITIES |
1,527,635 |
1,560,592 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2012 |
31/03/2011 |
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Cash
Flows from Operating Activities |
|
60,114 |
115,454 |
||
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Cash
Flows from Investment Activities |
-46,626 |
-93,467 |
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Cash
Flows from Financing Activities |
1,652 |
59,053 |
|||
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Cash,
Bank Deposits at the Term End |
|
119,265 |
104,739 |
||
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ANALYTICAL RATIOS Terms ending: |
31/03/2012 |
31/03/2011 |
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Net
Worth (S/Holders' Equity) |
366,652 |
408,762 |
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Current
Ratio (%) |
109.76 |
93.66 |
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Net
Worth Ratio (%) |
24.00 |
26.19 |
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Recurring
Profit Ratio (%) |
0.58 |
2.87 |
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Net
Profit Ratio (%) |
-4.00 |
-2.20 |
||
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Return
On Equity (%) |
-11.37 |
-5.91 |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.51 |
|
UK Pound |
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.69.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
<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.