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Report Date : |
17.10.2012 |
IDENTIFICATION DETAILS
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Name : |
NOMURA TRADING CO LTD |
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Registered Office : |
Kamiyacho Central Place, 4-3-13 Toranomon Minatoku Tokyo 105-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
June, 1976 |
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Com. Reg. No.: |
074101 |
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Legal Form : |
Limited Company |
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line of business
: |
Import, export, wholesale of livestock products, farm & marine
products, textiles |
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No. of Employees : |
238 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 |
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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 |
NOMURA TRADING CO
LTD
Nomura Boeki KK
Kamiyacho Central Place, 4-3-13 Toranomon Minatoku Tokyo 105-0001 JAPAN
Tel: 03-3438-7600 Fax:
03-3438-7625
*.. Registered at: 1-7-3 Azuchimachi Chuoku Osaka 541-0052 JAPAN
URL: http://www.nomuratrading.co.jp/
E-Mail address: info@nomuratrading.co.jp
Import, export, wholesale of livestock products, farm & marine
products, textiles
Tokyo, Fukuoka
(Branch Offices): Singapore, Frankfurt, Seattle, Taipei, Kaohsiung
(Rep Offices): Sydney, Ho Chin Minh, Hanoi, Beijing, Dalian
(Affiliated): Yangon, Medan, Rio Janeiro
(JV’s): China (5), Hong Kong, Indonesia (5), Laos, Thailand (6), Vietnam
(4)
(Invested Enterprises): China (3), Indonesia (3), Thailand (5), Vietnam
(5),
Germany (1)
KATSUSHIGE MIYASHITA, PRES Hideo
Fujita, mgn dir
Shizuya Shimoji, dir Akira
Sumida, dir
Ryoji Yuasa, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen
79,754 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 2,500 M
TREND SLOW WORTH Yen 4,957 M
STARTED 1976 EMPLOYES 238
TRADING HOUSE SPECIALIZING IN FOODSTUFFS, APPAREL, OTHERS, OWNED BY NOMURA TRADING HOLDINGS CO
LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1917 by Tokushichi
Nomura in order to make most of his experience in foreign trading, on his
account. This is a trading house
specializing in import, export and wholesale of foods, apparel, industrial
materials, other. In Apr 2002, due to
financial difficulties the firm transferred its business rights to Alton Shoji
KK (Shoji means trading), and restructured by forming a holding company, Nomura
Trading Holdings Co Ltd, at the caption address (See REGISTRATION). The corporate
name survived as captioned. In Apr 2005,
integrated business structure into three major business units: Food Business
Units (Farm/Marine/Livestock business); Consumer Products Business Unit
(Apparel, Housing, Building Materials business) and Industrial Business Unit
(Materials, Chemical, Machinery & Electronics). Operates 23 overseas JV
enterprises/affiliates.
The sales volume for Mar/2012 fiscal term amounted to Yen 79,754
million, a 7% down from Yen 85,497 million in the previous term. Export revenues declined in Yen terms due to
the high Yen. The recurring profit was
posted at Yen 1,339 million and the net profit at Yen 1,229 million,
respectively, compared with Yen 938 million recurring profit and Yen 543
million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 1,400 million and the net profit at Yen 1,300 million, respectively, on
a 3% rise in turnover, to Yen 82,000 million.
The financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,112.2 million, on 30 days normal terms.
Date Registered: Jun 1976
Regd No.: (Osaka-Chuoku)
074101
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8 million shares
Issued:
2 million shares
Sum: Yen 2,500 million
Major shareholders
(%): Nomura Trading Holdings Co Ltd*(100)
*.. Holding company, founded 2002, at the caption address, founded 1925,
listed Tokyo S/E, capital Yen 594,493 million, sales Yen 1,851,760 million,
operating profit Yen 1,535,859 million, recurring profit Yen 84,957 million,
net profit Yen 11,583 million, total assets Yen 35,697,312 million, net worth
Yen 2,389,137 million, employees 34,395, pres Koji Nagai
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales foods, consumer goods, industrial machinery & materials,
others:
(Sales breakdown
by divisions):
Food
Business Unit (35%): Agricultural products (coffee beans, grains, edible
oils, spices, preparation with
cocoa, sugar, milk), Marine products (mackerel, capelin, horse mackerel,
herring, salmon, other), Animal products (meat, sausages, hams, other meat
products), Wellness goods (medical materials, health foods, food additives,
collagen, placenta, pet foods);
Consumer Products
Unit (16%): Apparel (garments for men & women, kids wear, young casual wear,
sports wear, brands goods). Household goods (bedding, furniture, home
appliances, kitchen utensils, brand name ceramics, plywood, jointed wood,
lumber, home improvement store materials, office furniture), Building materials
(construction materials, interior fixtures, wood floor materials);
Industrial
business Unit (46%): machine tools, plastic injection molding machines,
knockdown parts for gasoline dispensing pumps, wind power generators,
environmental equipments, inspection machines for mobile phones & LCD
displays, elastomers, iron ore, cement clinker, blast furnace slag, zinc powder,
mercury, manganese, plastics, dye pigments, other,
Overseas Trading
Ratio (90%): Asia 65%; other regions 25%
Clients: [Meat packers,
food processors, wholesalers] Nippon Meat Packers, Key Coffee, Nippon Crown
Corp, Food Agency, Meiji Seika, Takeda Kirin Foods, Osaka Uoichiba, Hasec, Murachiku
Co, other
No. of accounts: 2,000
Domestic areas of activities: Nationwide
Suppliers: [Chemical mfrs,
wholesalers] Tosoh Corp, Sumitomo Metal Ind, Ube Ind, Mitsubishi Heavy Ind,
Clayton Polymer Japan, Aron Kasei Murachiku, Denki Kagaku Kogyo, Brother Sales,
other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Resona Bank (Ohtemachi)
Mizuho Bank (Yaesuguchi)
Relations: Satisfactory
FINANCES (In
Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual Sales |
|
82,000 |
79,754 |
85,497 |
78,478 |
|
Recur. Profit |
|
1,400 |
1,339 |
938 |
214 |
|
Net Profit |
|
1,300 |
1,229 |
543 |
70 |
|
Total Assets |
|
|
28,668 |
25,911 |
28,578 |
|
Current Assets |
|
|
26,112 |
25,911 |
25,951 |
|
Current Liabs |
|
|
22,516 |
23,478 |
24,115 |
|
Net Worth |
|
|
4,957 |
3,769 |
3,349 |
|
Capital, Paid-Up |
|
|
2,500 |
2,500 |
2,500 |
|
Div.P.Share(¥) |
|
|
20,000.00 |
7,600.00 |
1,000.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.82 |
-6.72 |
8.94 |
-11.60 |
|
|
Current Ratio |
|
.. |
115.97 |
110.36 |
107.61 |
|
N.Worth Ratio |
.. |
17.29 |
14.55 |
11.72 |
|
|
R.Profit/Sales |
|
1.71 |
1.68 |
1.10 |
0.27 |
|
N.Profit/Sales |
1.59 |
1.54 |
0.64 |
0.09 |
|
|
Return On Equity |
.. |
24.79 |
14.41 |
2.09 |
|
Notes: Forecast figures for the
31/03/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.82 |
|
UK Pound |
1 |
Rs.84.96 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
<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.