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Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ISHIN HOLDINGS CO LTD |
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Registered Office : |
654-4 Ninomiya Tsuyama City Okayama-Pref
708-0013 |
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Country : |
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Financials (as on) : |
29.02.2012 |
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Date of Incorporation : |
May 1990 |
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Com. Reg. No.: |
2600-01-020131
(Okayama-Tsuyama) |
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Legal Form : |
Limited Company |
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Line of Business : |
Building contractor,
construction, other-related works |
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No. of Employees : |
32 employees |
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 |
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
|
Country Name |
Previous Rating (31.03.2012) |
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 hrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
Important Note
Please cancel the earlier report and replace with the attached revised report.
The contents were mixed up with Ishin Japan.
Please confirm this is done.
ISHIN HOLDINGS CO LTD
KK Ishin Holdings
654-4 Ninomiya
Tsuyama City Okayama-Pref 708-0013 JAPAN
Tel:
0868-28-9771 Fax: 0868-28-9775
URL: http://www.realcom.co.jp/imp/news/20120605
web ishii. html
E-Mail address: (thru the URL)
Building
contractor, construction, other-related works
6
nationwide
Ishin
America Inc, Ishin Holdings Pte Ltd (Singapore), Ishin Ltd (Russia)
HIROAKI
ISHII, PRES Tetsuro Kasaya,
s/mgn dir
Shingo
Akiyama, mgn dir Takayoshi Yamamoto, dir
Yen
Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,293 M
PAYMENTS No Complaints CAPITAL Yen 99 M
TREND UP WORTH Yen 1,887 M
STARTED 1990 EMPLOYES 32
TRADING FIRM SPECIALIZING IN HEALTH FOODS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENS BUT DOUBTFUL FOR CREDIT ENGGMENTS: US$2,000,000.000.00
The subject company
was established by Hiroaki Ishihara in order to make most of his experience in
the subject line of business. This is a
building contractor and construction company.
Buildings and houses are sold nationwide thru Franchisees. The firm operates 6 firms domestically and 3
overseas: USA, Russia and Singapore.
The sales volume for
Feb/2012 fiscal term amounted to Yen 1,293 million, a 9% up from Yen 6,188
million. This is thanks to the building
& sale of solar shell houses, according to the firm. The recurring profit was posted at Yen 232
million and the net profit at Yen 145 million, respectively, compared with Yen
168 million recurring profit and Yen 117 million net profit, respectively, a
year ago.
For the current term
ending Feb 2013 the recurring profit is projected at Yen 250 million and the
net profit at Yen 150 million, respectively, on a 5% rise in turnover, to Yen
1,360 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. The proposed amount, however, is considered
TOO HIGH from the recent financial status.
Date Registered: May 1990
Regd No.:
2600-01-020131 (Okayama-Tsuyama)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
7,920 shares
Issued:
1,980 shares
Sum: Yen 99 million
Major shareholders (%): Hiroaki Ishihara & Ishihara
families (--100)
No. of shareholders: 7
Nothing
detrimental is known as to his commercial morality.
Activities: Building contractor and construction works (--100%)
Clients: Franchisees
No. of accounts: Unavailable
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Ascon Concrete, Asahi DuPont Flush Products,
Sumitomo Forestry, Chofu Seisakusho, Goddess Create Co, other
Payment record: No Complaints
Location: Business area in Tsuyama City, Okayama-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
Chugoku
Bank (Tsuyam-Kita)
MUFG
Okayama)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/013 |
29/02/2012 |
28/02/2011 |
28/02/2010 |
|
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Annual
Sales |
|
1,360 |
1,293 |
1,188 |
884 |
|
Recur.
Profit |
|
250 |
232 |
168 |
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Net
Profit |
|
150 |
145 |
117 |
120 |
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Total
Assets |
|
|
2,308 |
2,095 |
2,055 |
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Current
Assets |
|
|
1,256 |
1,201 |
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Current
Liabs |
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|
249 |
151 |
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Net
Worth |
|
|
1,887 |
1,780 |
1,735 |
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Capital,
Paid-Up |
|
|
99 |
99 |
99 |
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Div
Ttl in Million(¥) |
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|
42 |
37 |
23 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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. Growth
Rate |
5.18 |
8.84 |
34.39 |
2.31 |
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Current Ratio |
|
.. |
504.42 |
795.36 |
.. |
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N.Worth Ratio |
.. |
81.76 |
84.96 |
84.43 |
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R.Profit/Sales |
|
18.38 |
17.94 |
14.14 |
.. |
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N.Profit/Sales |
11.03 |
11.21 |
9.85 |
13.57 |
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Return On Equity |
.. |
7.68 |
6.57 |
6.92 |
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Notes:
Forecast (or estimated) figures for the 28/02/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
UK Pound |
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
---- |
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.