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Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
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Name : |
NAOMOTO CORPORATION |
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Registered Office : |
1908 Ishigakicho Tennojiku Osaka 543-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
June 1951 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of irons, iron
tables, generators, food machinery |
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No. of Employees : |
112 |
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 : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 |
|
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 |
NAOMOTO CORPORATION
Naomoto Kogyo KK
1908 Ishigakicho
Tennojiku Osaka 543-0031 JAPAN
Tel:
06-6775-2500 Fax: 06-6775-2510
E-Mail address: (thru the URL)
Mfg of
irons, iron tables, generators, food machinery
Tokyo,
Fukuoka, Sapporo, Gifu, Niigata, Okayama
China
Higashi-Osaka
YASUO
ABE, PRES Osamu Naomoto,
s/mgn dir
Kozo
Kishi, mgn dir Tadashi Yamamoto, mgn dir
Toshiaki
Udo, dir Tsutomu
Harada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,200 M
PAYMENTSUsually Correct CAPITAL Yen
70 M
TREND SLOW WORTH Yen 170 M
STARTED 1951 EMPLOYES 112
MFR OF BUSINESS-USE IRONS, IRON TABLES, FOOD MACHINERY, ETC.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1948 by father of Yasuo
Abe in order to make most of his experience in the subject line of business, on
his account. Incorporated in 1951 the
firm has been succeeded by his descendants.
This is a specialized mfr of business-use irons, iron tables, generator,
presses, food machinery, other (See OPERATION). Products are exported to China, other. Domestic clients include fast food
restaurants, sewing machine mfrs, other.
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for May/2012 fiscal term amounted to Yen 2,200 million,
a 1% down from Yen 2,220 million in the previous term. Exports were hurt by the high Yen, reducing
earnings in Yen terms. The net profit
was posted at Yen 16 million, compared with Yen 9 million a year ago. The firm posted Yen 205 million net losses
for the May/2009 fiscal term.
For the current term ending May 2013 the net profit is projected at Yen
20 million, on a 5% rise in turnover, to Yen 2,300 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun
1951
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
560,000 shares
Issued: 140,000 shares
Sum: Yen 70 million
Major shareholders
(%): Yasuo Abe (15), Osamu Naomoto (12), Noriko Abe (11)
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
business-use irons, iron tables, generators, presses, food machinery (oven,
food warmer, steamer, oven toaster, other), others (--100%)
Clients: [Mfrs,
wholesalers] Naomoto Tokai, JUKI Hambai, Naomoto Shanghai, McDonald’s Japan,
Tung Shing Sewing Machine, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Naomoto Techno, Eagle Sangyo, Fuji Electric Ind, other
Imports from China, other
Payment record: Usually
Correct
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Kansai Urban Bank (H/O)
MUFG (Ueroku)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
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Annual
Sales |
|
2,300 |
2,200 |
2,220 |
2,133 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
20 |
16 |
9 |
3 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
170 |
154 |
145 |
|
Capital,
Paid-Up |
|
|
70 |
70 |
70 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.55 |
-0.90 |
4.08 |
-14.27 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.87 |
0.73 |
0.41 |
0.14 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.83.70 |
|
Euro |
1 |
Rs.71.42 |
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 |
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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 |
|
---- |
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.