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Report Date : |
06.11.2012 |
IDENTIFICATION DETAILS
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Name : |
HARADA CORPORATION |
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Registered Office : |
2-10-14 Minamisemba Chuoku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
May 1923 |
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Com. Reg. No.: |
1200-01-029640 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export of semiconductors, medical, shipbuilding, architecture, food |
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No. of Employees : |
187 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 a technologically 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. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - 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 after
effects 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. Measured on a purchasing power parity (PPP) basis that adjusts for
price differences, Japan in 2011 stood as the fourth-largest economy in the
world after second-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2011. A sharp downturn in business investment
and global demand for Japan's exports in late 2008 pushed Japan further into
recession. 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 in March disrupted manufacturing. Electricity supplies remain tight
because Japan has temporarily shut down almost all of its nuclear power plants
after the Fukushima Daiichi nuclear reactors were crippled by the earthquake
and resulting tsunami. Estimates of the direct costs of the damage - rebuilding
homes, factories, and infrastructure - range from $235 billion to $310 billion,
and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has
proposed opening the agricultural and services sectors to greater foreign
competition and boosting exports through membership in the US-led Trans-Pacific
Partnership trade talks and by pursuing free-trade agreements with the EU and
others, but debate continues on restructuring the economy and reining in
Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation,
reliance on exports to drive growth, and an aging and shrinking population are
other major long-term challenges for the economy.
Source : CIA
HARADA CORPORATION
REGD NAME: Harada
Sangyo KK
MAIN OFFICE: 2-10-14
Minamisemba Chuoku Osaka 542-0081 JAPAN
Tel: 06-6244-0171
Fax: 06-6244-0157
URL: http//:www.haradacorp.co.jp
E-mail: enquiry@haradacorp.co.jp
Import, export of
semiconductors, medical, shipbuilding, architecture, food
Osaka (2), Tokyo,
Kumamoto
Germany,
Singapore, Taiwan, Korea, Philippines, China (2), Thailand
HISAO HARADA, PRES Kenji Harada, v pres
Kazuyoshi Nohara,
dir Satoshi Harada, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 10,776 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 300 M
TREND UP WORTH Yen 5,764 M
STARTED 1923 EMPLOYES 187
TRADING
HOUSE.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by
Kametaro Harada in order to make most of his experience in the subject line of
business. Hisao is the third generation
master. This is a trading house for
import, export and wholesale of various commodities: semiconductors,
shipbuilding, telecommunications, pharmaceuticals, medical care, environmental,
foods, other (See OPERATION). Goods are more imported than exported. Imports from about 500 suppliers in USA,
Europe, S/E Asia, other. Clients are
major mfrs, electronics, wholesalers, other, nationwide.
The sales volume for Mar/2012 fiscal
term amounted to Yen 10,776 million, an 8% up from 10,013 million in the
previous term. Demand rose after the
Great East Japan Earthquake for emergency commodities, such as foods,
pharmaceuticals, nursing care goods, other.
The recurring profit was posted at Yen 464 million and the net profit at
yen 204 million, respectively, compared with Yen 533 million recurring profit and
Yen 226 million net profits, respectively, a year ago. .
For the current term ending Mar 2013 the
recurring profit is projected at Yen 490 million and the net profit at Yen 220
million, respectively, on a 7% rise in turnover, to Yen 10,500 million. Business is seen steadily expanding.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: May
1923
Regd No.:
1200-01-029640 (Osaka-Chuoku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 2.4 million shares
Issued: 600,000 shares
Sum: Yen 300 million
Major
shareholders (%): Employees’ S/Holding Assn (19.7), Harada S/Holding Assn (13.7), Tokio
Marine & Nichido Fire Ins (8.3), Hisao Harada (7.8)
No. of shareholders: 52
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of: electronics & telecommunications-related (50%),
shipbuilding/architecture-related (20%), medical care, pharmaceutical, nursing
care-related (10%), food, beverage (13%), other (7%).
(Handling
Items):
Industrial
consumption goods: Clean room products (gloves, wipers, suits &
shoes, sanitation & maintenance supplies, masks), order-made uniforms,
safety equipment, disposable protective equipment, heat stroke prevention,
safety vests, work gloves;
Electronics
& communications: electronics control products (ionizer, plasma
anomalous discharge, monitoring system), communication equipment (fiber-optic
measuring devices, metal/network cable measuring devices, related products for
offshore equipment);
Architecture
& shipbuilding: Shipbuilding (chockfast, vacuum toilet system,
push fit stainless steel piping system, fire safe sealing for pipe penetration,
heat shielding film & coatings, adhesive-type vibration absorbing sheet),
Architecture & industrial (floor air outlets, displacement ventilation
outlets, draft-free line diffuser, residential zone air conditioning), safety
protection (autoclavable shoes, autoclabable suits, gloves);
Food
mfg: hair/hygiene control in food plants, high quality mold release oil,
trennaktive, food stabilizing agent, material management & supply system,
mondomixer;
Medical
care: welfare equipment (wheelchairs, bedsores, walkers, seminars), medical
devices (anti-smoking clinics, DVT & thrombosis prevention, respiratory
field apparatus, obstetrics & gynecology), Pharmaceutical factories
(autoclavable shoes, autoclavable suits, gloves, other)
Clients: [Mfrs,
wholesalers] Mitsubishi Heavy Ind, IHI Marine United, JFE Steel, Sharp, NEC,
Hitachi Ltd, NTT group firms, Obayashi Corp, other
No. of accounts:
800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from about 500 suppliers in USA, Europe, China, other S/E
Asian countries.
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Semba)
SMBC (Semba)
Relations:
Satisfactory
(In Million
Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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11,500 |
10,776 |
10,013 |
9,890 |
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Recur.
Profit |
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490 |
464 |
533 |
537 |
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Net
Profit |
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220 |
204 |
226 |
257 |
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Total
Assets |
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11,270 |
11,664 |
10,761 |
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Current
Assets |
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10,012 |
10,049 |
9,408 |
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Current
Liabs |
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4,377 |
4,938 |
4,257 |
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Net
Worth |
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5,764 |
5,632 |
5,477 |
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Capital,
Paid-Up |
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300 |
300 |
300 |
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Div.P.Share(¥) |
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12.00 |
12.00 |
12.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.72 |
7.62 |
1.24 |
-2.07 |
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Current Ratio |
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.. |
228.74 |
203.50 |
221.00 |
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N.Worth Ratio |
.. |
51.14 |
48.29 |
50.90 |
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R.Profit/Sales |
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4.26 |
4.31 |
5.32 |
5.43 |
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N.Profit/Sales |
1.91 |
1.89 |
2.26 |
2.60 |
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Return On Equity |
.. |
3.54 |
4.01 |
4.69 |
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Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.08 |
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1 |
Rs.86.68 |
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Euro |
1 |
Rs.69.36 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.