MIRA INFORM REPORT

 

 

Report Date :

15.09.2012

 

IDENTIFICATION DETAILS

 

Name :

ISHII TORYO CO LTD

 

 

Registered Office :

5-381-9 Asamacho Nishiku Yokohama 220-0072

 

 

Country :

Japan

 

 

Financials (as on) :

29.02.2012

 

 

Date of Incorporation :

March 1960

 

 

Com. Reg. No.:

0200-01-014228 (Yokohama-Nishiku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale of industrial paints

 

 

No. of Employees :

05 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company  

Payment Behaviour :

Slow

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

Restricted

 

C2

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

 

Company name

 

ISHII TORYO CO LTD

 

 

REGD NAME 

 

Ishii Toryo KK

 

 

MAIN OFFICE

 

5-381-9 Asamacho Nishiku Yokohama 220-0072 JAPAN

Tel: 045-311-6061     Fax: 045-316-0165

 

URL:                 N/A

 

 

ACTIVITIES

 

Wholesale of industrial paints

 

 

BRANCHES

 

Nil

 

 

FACTORIEs

 

Yokohama, adjacent to the office location (warehouse)

 

 

OFFICERS

 

HIROSHI ISHII, PRES

Jun’ichi Ishii, dir

Yuji Ishii, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES        FAIR                 A/SALES          Yen 210 M

PAYMENTS Slow                   CAPITAL           Yen 10 M

TREND SLOW             WORTH            Yen 100 M

STARTED         1960                 EMPLOYES      5

 

 

COMMENT

 

WHOLESALER OF INDUSTRIAL PAINTS & COATINGS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

The subject company was established by Hiroshi Ishii in order to make most of his experience in the subject line of business.  This is a family-based firm, wholly owned by the Ishii family, operating from his home address, specializing in wholesaling industrial paints & coatings.  Small, yet clients include major corporations from machinery makers to civil engineering companies.  Management is considered sound and solid.  Products are supplied from major paint makers nationwide.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as is the case with family-based companies.

 

The sales volume for Feb/2012 fiscal term amounted to Yen 210 million, a similar amount in the previous term.  The net profit was posted at 4 million, similarly in the previous term.

 

For the current term ending Feb 2013 the net profit is projected at Yen 5 million, on a 5% rise in turnover, to Yen 220 million.

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:          Mar 1960

Regd No.:             0200-01-014228 (Yokohama-Nishiku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:                     80,000 shares

Issued:                20,000 shares

Sum:                   Yen 10 million

Major shareholders (%): Hiroshi Ishii (58%) & families (42)

No. of shareholders: 7

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Wholesales industrial paints & coatings (--100%).

 

Clients: [Mfrs, wholesalers] Japan Transport Engineering Corp, Hitachi Ltd, Takenaka Civil Engineering & Construction, Yuken Kogyo, Kyoritsu Machinery Consultant, Takada Kogyo, Toyo Electric Mfg, other.

No. of accounts: 200

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Kansai Paint, Chugoku Marine Paints, Tohpe Corp, Sekiguchi Toryo, Daishin Paint, other.

 

Payment record: Slow

 

Location: Business area in Yokohama.  Office premises at the caption address are owned by H Ishii as his private residence and maintained satisfactorily.

 

Bank References:

Resona Bank (Yokohama-Nishiguchi)

Mizuho Bank (Tsurugamine)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

　

　

28/02/2013

29/02/2012

28/02/2011

28/02/2010

Annual Sales

　

220

210

210

220

Recur. Profit

　

　

　

　

　

Net Profit

　

5

4

4

4

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

100

98

96

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.76

0.00

-4.55

0.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

2.27

1.90

1.90

1.82

 

Notes: Financials are only partially disclosed.

 

Forecast (or estimated) figures for 28/02/2013 fiscal term.

.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.73

UK Pound

1

Rs.88.61

Euro

1

Rs.71.34

 

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

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

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.