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Report Date : |
15.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
METAL ONE
NISHINIHON CORP |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
Oct 1998 |
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Com. Reg. No.: |
2400-01-015621
(Hiroshima-Nakaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale
of steel products, building materials, machinery, chemicals |
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No. of Employees : |
57 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
|
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 |
METAL ONE NISHINIHON CORP
REGD NAME: KK
Metal One Nishinihon
MAIN OFFICE:
Tel:
082-545-9921 Fax: 082-545-9936
URL: http://www.mtlo-nishinihon.co.jp/
E-Mail
address: info@mtlo-nishinihon.co.jp
Wholesale
of steel products, building materials, machinery, chemicals
Ube,
Tokuyama, Kakogawa, Fukuyama
YOSHIKI
OKUMURA, PRES Masuki Wakabayashi,
s/mgn dir
Masaru
Ohtsuru, dir Toshiaki
Nakanishi, dir
Tohru
Nakanishi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY:
FINANCES FAIR A/SALES Yen 48,817 M
PAYMENTS
No complaints CAPITAL Yen 300 M
TREND SLOW WORTH Yen 1,103 M
STARTED 1998 EMPLOYES 57
WHOLESALER OF STEEL PRODUCTS & BUILDING MATERIALS,
WHOLLY
OWNED BY METAL ONE CORPORATION.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established originally as Nissho Iwai Nishinihon KK for
wholesaling steel products and building materials in the western part of
Japan. Name changed as captioned in Jan
2003 when Nissho Iwai Corp (now Sojitz Corp) and Mitsubishi Corp established a
JV company, Metal One Corporation, to integrate steel products operations. This is a trading firm for import, export and
wholesale of steel products and building materials centrally, covering the
western part of Japan. Clients include
heavy machinery makers, auto makers, other, in the western part of Japan.
The sales
volume for Mar/2012 fiscal term amounted to Yen 48,817 million, a 1% down from
Yen 49,411 million in the previous term.
High Yen reduced earnings in Yen terms.
The recurring profit was posted at Yen 448 million and the net profit at
Yen 256 million, respectively, compared with Yen 419 million recurring profit
and Yen 254 million net profit, respectively, a year ago.
For
the current term ending Mar 2013 the recurring profit is projected at Yen 450
million and the net profit at Yen 260 million, respectively, on a 2% rise in
turnover, to Yen 50,000 million.
Business is seen expanding steadily.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Oct 1998
Regd No.: 2400-01-015621 (Hiroshima-Nakaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
24,000 shares
Issued:
6,000 shares
Sum: Yen 300
million
Major shareholders (%): Metal
One Corporation*(100)
*.. Trading house of steel
products, jointly owned by Mitsubishi Corp and Sojitz Corp, Tokyo, founded
2003, capital Yen 100,000 million, turnover Yen 2,473,001 million, operating
profit Yen 27,003 million, recurring profit Yen 25,243 million, net profit Yen
14,423 million, total assets Yen 1,109,056 million, net worth Yen 263,338
million, employees 10,000, pres Naoto Matsuoka
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales steel products: hot &
cold rolled plates & sheets, surface-treated steel plates & sheets,
stainless steel plates, sheets, strips, pipes, bars, aluminum products, steel
wires, other; building materials, H-section steel, pipes, bars, steel plates,
bolts, guard rails, steel scraps, other; machinery & equipment, chemicals,
others (--100%).
Clients: [Mfrs, wholesalers] Mazda Motor,
Mitsubishi Heavy Ind, Metal One Kenzai Nishinihon, MO Nishinihon Steel Center,
other.
No. of
accounts: 800
Domestic
areas of activities: Centered in western part of Japan
Suppliers: [Mfrs, wholesalers] Metal One Corp,
Nippon Steel, Kobe Steel, JFE Steel, Nisshin Steel, other.
Payment record:
Regular
Location:
Business area in Hiroshima. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References:
Yamaguchi
Bank (Hiroshima)
Chugoku
Bank (Hiroshima)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
50,000 |
48,817 |
49,411 |
44,245 |
|
Recur.
Profit |
|
450 |
448 |
419 |
|
|
Net
Profit |
|
260 |
256 |
254 |
180 |
|
Total
Assets |
|
|
16,013 |
15,162 |
13,509 |
|
Current
Assets |
|
|
15,878 |
15,018 |
|
|
Current
Liabs |
|
|
14,908 |
14,055 |
|
|
Net
Worth |
|
|
1,103 |
1,105 |
1,028 |
|
Capital,
Paid-Up |
|
|
300 |
300 |
300 |
|
Div.Ttl
in Million (¥) |
|
|
253.00 |
180.00 |
453.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.42 |
-1.20 |
11.68 |
-26.27 |
|
|
Current Ratio |
|
.. |
106.51 |
106.85 |
.. |
|
N.Worth Ratio |
.. |
6.89 |
7.29 |
7.61 |
|
|
R.Profit/Sales |
|
0.90 |
0.92 |
0.85 |
.. |
|
N.Profit/Sales |
0.52 |
0.52 |
0.51 |
0.41 |
|
|
Return On Equity |
.. |
23.21 |
22.99 |
17.51 |
|
Notes:
Forecast (or estimated) figures for 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.72 |
|
|
1 |
Rs.88.60 |
|
Euro |
1 |
Rs.71.34 |
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.