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Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
Jun
1969 |
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Com. Reg. No.: |
Osaka-Kitaku)
072743 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Import,
export of chemical products |
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No. of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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 |
NIPPON CHEMICAL TRADING CO LTD
REGD NAME: Nippon
Kagaku Boeki KK
MAIN OFFICE:
Tel:
06-6344-0561 Fax: 06-6347-0730
URL: N/A
Import,
export of chemical products
Nil
HARUO
HINO, PRES
Hisao Adachi, dir
Masako Hino, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES WEAK A/SALES Yen 203 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen (-) 459 M
STARTED 1969 EMPLOYES 7
TRADING
FIRM SPECIALIZING IN CHEMICAL PRODUCTS.
FINANCIAL SITUATION CONSIDERED
WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS
RECOMMENDED
ON NEW TRANSACTIONS
The subject
company was established by Haruo Hino in order to make most of his previous
experience in the subject line of business.
This is a family-based trading firm, owned and operated by the Hino
family, for exporting chemical products, industrial machinery, water treatment
equipment, other. Export destinations
are USA, Korea, Taiwan, Iran, India, Indonesia, Saudi Arabia, other.
The sales
volume for Mar/2012 fiscal term amounted to Yen 130 million, a 36% down from
Yen 203 million in the previous term.
The financials are only partially disclosed for this term. The operations came back profitability to
post Yen 53 million net profit for the term, compared with Yen 15 million net
losses a year ago. Exports were
substantially hurt by the appreciation of the Yen, reducing export revenues in
Yen terms. .
For
the current term ending Mar 2013 the net profit is projected at Yen 60 million,
on 10% rise in turnover, to Yen 140 million.
The
financial situation is considered WEAK but should be good for MODERATE business
engagements. Negative net worth and no
credits are recommended on new transactions.
Date Registered: Jun 1969
Regd No.: (Osaka-Kitaku)
072743
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued: 200,000
shares
Sum: Yen
100 million
Major shareholders (%):
Haruo Hino (75), Masako Hino (25)
No. of shareholders: 2
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Trading firm for exporting chemical
products (by-product ammonium sulphate, aromatic compounds, peptide, ferrocene,
other), industrial machinery, water purifying equipment, other (--100%). Goods are also imported.
Clients: [Mfrs, wholesalers] Exports to: USA,
Canada, Saudi Arabia, Korea, China, Taiwan, Jordan, Iran, Iraq, Thailand,
India, Indonesia, other.
No. of
accounts: Unavailable
Domestic
areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Tosoh Corp, Asahi
Glass, Showa Denko, Meiji Dairies Corp, Godo Shusei Co, Asahi Glass, Mitsubishi
Chemical, Amano Enzyme, Shinnihon Chemicals Corp, Dai-Ichi Kogyo Seiyaku Co,
Kanehide Bio Co, other.
Payment record:
Regular
Location:
Business area in Osaka. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Umeda)
MUFG
(Osaka-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
130 |
203 |
302 |
280 |
|
Recur.
Profit |
|
|
-15 |
-9 |
-7 |
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Net
Profit |
|
53 |
-15 |
-9 |
-7 |
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Total
Assets |
|
|
26 |
38 |
47 |
|
Current
Assets |
|
|
5 |
16 |
24 |
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Current
Liabs |
|
|
10 |
7 |
10 |
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Net
Worth |
|
|
-459 |
-443 |
-433 |
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Capital,
Paid-Up |
|
100 |
100 |
100 |
100 |
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Div.P.Share(¥) |
|
0 |
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
-35.96 |
-32.78 |
7.86 |
-25.93 |
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Current Ratio |
|
.. |
50.00 |
228.57 |
240.00 |
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N.Worth Ratio |
.. |
-1,765.38 |
-1,165.79 |
-921.28 |
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R.Profit/Sales |
|
.. |
-7.39 |
-2.98 |
-2.50 |
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N.Profit/Sales |
40.77 |
-7.39 |
-2.98 |
-2.50 |
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Notes:
Resulted figures for the 31/03/2012 fiscal term, but only partially
disclosed.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.33 |
|
|
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.67.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
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 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.