MIRA INFORM REPORT
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Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
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Name : |
NP TRADING CO LTD |
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Registered Office : |
1-2-2
Hitotsubashi Chiyodaku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
July
1979 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of pulp & paper, paper
products |
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No. of Employees
: |
451 |
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 |
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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
--- |
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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Japan |
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 shrinking population are other major long-term challenges for the economy.
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Source : CIA |
NP TRADING CO LTD
Nippon Kami Tsusho
KK
1-2-2 Hitotsubashi
Chiyodaku Tokyo 100-8158 JAPAN
Tel:
03-6665-7032 Fax: 03-3217-3221
URL: http//:www.np-t.co.jp
E-mail: info-general@np-t.co.jp
Import,
export, wholesale of pulp & paper, paper products
Sapporo,
Fuji, Nagoya, Osaka, Tokuyama, Hiroshima, Matsuyama, Fukuoka
Jakarta,
Hong Kong, Kuala Lumpur, China, Singapore, Thailand, Ho Chiminh, Taiwan,
KYOICHI
FUJIKAWA, PRES Masao Kiuchi, s/mgn
dir
Takeshi
Tamatani, mgn dir Yoshihiro
Saito, mgn dir
Masaya
Kawahara, mgn dir Nobuhiro
Okumura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 248,920 M
PAYMENTSNo Complaints CAPITAL Yen 1,000 M
TREND UP WORTH Yen 12,718 M
STARTED 1979 EMPLOYES 451
TRADING
FIRM SPECIALIZING IN PULP & PAPER, OWNED BY NIPPON PAPER GROUP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established originally as Jujo Shoji
Co Ltd for handling paper products for local, import and export. In Apr 2004 merged with San-Mic Chiyoda Co Ltd,
and in Apr 2006 merged with Komine Nissho Co Ltd and renamed as captioned. And further in Oct 2007, merged with Mantsune
Corporation. This is a general trading
company, owned by Nippon Paper Group (See REGISTRATION), specializing in
import, export and wholesale of printing paper, functional paper, newsprint,
packaging materials, other paper products (For details see OPERATION). Clients are major paper mills, specialized
wholesalers, etc, nationwide. Goods are
both imported and exported. Has 8 overseas
subsidiaries: Jakarta, Malaysia, Hong Kong, China, Singapore, Vietnam, Taiwan
and Thailand.
The sales volume for Mar/2011 fiscal term amounted to Yen 248,920
million, a 2% up from Yen 244,872 million in the previous term. Market has revived after being substantially
affected by the global economic downturn in the last term. Demand increased. Exports rose.
The recurring profit was posted at Yen 1,913 million and the net profit
at Yen 528 million, respectively, compared with Yen 1,648 million recurring
profit and Yen 1,088 million net profit, respectively, a year ago. High Yen eroded profits in Yen terms.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 2,000 million and the net profit at Yen 540 million, respectively, on a
2% rise in turnover, to Yen 253,500 million.
Business is steady expanding.
Exports to China are active.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: July 1979
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 8
million shares
Issued: 2 million shares
Sum: Yen
1,000 million
Major shareholders (%):
Nippon Paper Group Inc* (100)
* Holding company formed
in Mar 2001 via business combination between Nippon Paper Ind and Daishawa
Paper Mfg, one of 2 largest paper makers in rivalry with Oji Paper, founded
2001, listed Tokyo, Osaka, Nagoya S/E’s, capital Yen 55,730 million, sales Yen
1,099,817 million, operating profit Yen 35,608 million, recurring profit Yen
31,599, net loss Yen 24,172 million, total assets Yen 1,508,647 million, net
worth Yen 368,987 million, employees 13,688, pres Yoshio Haga
Nothing detrimental is known as to the commercial morality of
executives.
Activities: A trading house
for import, export & wholesale of pulp & paper (80%), food additives,
machinery, other (20%).
Overseas trading
ratio (10%)
(Handling items):
General Paper: Wood free paper, coated
paper,1/S coated art paper, LWC, wrapping paper, tissue paper, colored wood
free paper, MG poster paper, cast coated paper;
Functional Paper: ink jet printer
paper, function paper, carbonless copy paper, label paper, clean paper, thermal
paper, interleaving paper, photocatalystic coated paper, oil blotting paper,
oil resistant paper, cloth paper for diary, water soluble paper;
Industrial Paper: bleached Kraft
paper, wall paper, battery separator, release paper, cup stock, decorated
paper;
Paperboard: Kraft liner
board, corrugated medium, coated duplex board, chip board, coated ivory board,
coated cardboard;
Newsprint Paper:
Newsprint paper, telephone directory;
Paper for
Cigarette: rice paper, tipping paper, plug wrapping paper;
Fancy Paper: variety of fancy
paper, colored Kraft paper, aluminum evap0orated paper;
Paints, Ink,
Adhesive Materials, Food Additives, Machinery, Film, Aluminum Foil &
related products, tapes, Food for fish, Pulp, Waste Paper, other.
Clients: [Paper mills,
wholesalers] Nippon Paper Ind, Toppan Forms, Kyodo Paper Holdings, Ricoh Co,
Otsuka Corp, Lintec Corp, Riso Kagaku Corp, Nitto Denko Corp, other
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Nippon Paper Ind, Lintec Corp, Nippon Paper Chemical Ind, Futamura Chemical,
Oji Paper, Nippon Daishowa Paperboard, Mitsubishi Corp, JSR, Arakawa Chemical
Ind, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned by the parent, Nippon Paper Holdings Inc and maintained
satisfactorily.
Bank References:
· SMBC (H/O)
· MUFG (Yaesudori)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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253,500 |
248,920 |
244,872 |
287,416 |
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Recur.
Profit |
|
2,000 |
1,913 |
1,648 |
2,493 |
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Net
Profit |
|
540 |
528 |
1,088 |
989 |
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Total
Assets |
|
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109,276 |
112,993 |
116,564 |
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Current
Assets |
|
|
91,155 |
94,110 |
97,483 |
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Current
Liabs |
|
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92,962 |
97,086 |
102,363 |
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Net
Worth |
|
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12,718 |
12,644 |
11,164 |
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Capital,
Paid-Up |
|
|
1,000 |
1,000 |
1,000 |
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Div.P.Share(¥) |
|
|
15.00 |
15.00 |
32.10 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.84 |
1.65 |
-14.80 |
3.53 |
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Current Ratio |
|
.. |
98.06 |
96.93 |
95.23 |
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N.Worth Ratio |
.. |
11.64 |
11.19 |
9.58 |
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R.Profit/Sales |
|
0.79 |
0.77 |
0.67 |
0.87 |
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N.Profit/Sales |
0.21 |
0.21 |
0.44 |
0.34 |
|
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Return On Equity |
.. |
4.15 |
8.60 |
8.86 |
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Notes:
Forecast (or estimated) figures for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.53 |
|
UK Pound |
1 |
Rs.86.82 |
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Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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.