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Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
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Name : |
OHMI INDUSTRIES LTD |
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Registered Office : |
3-11-10 Minamisemba Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
October 1977 |
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Com. Reg. No.: |
1200-01-076600 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Exporter of steel, steel products |
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No. of Employees : |
25 |
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 : |
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 small
agricultural sector is highly subsidized and protected, with crop yields among
the highest in the world. While self-sufficient in rice production, Japan
imports about 60% of its food on a caloric basis. 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. Modest economic growth continued after 2000, but the economy has
fallen into recession three times since 2008. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan 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 and the ensuing tsunami in March disrupted manufacturing. The
economy has largely recovered in the two years since the disaster, but
reconstruction in the Tohoku region has been uneven. Newly-elected Prime
Minister Shinzo ABE has declared the economy his government's top priority; he
has pledged to reconsider his predecessor's plan to permanently close nuclear power
plants and is pursuing an economic revitalization agenda of fiscal stimulus and
regulatory reform and has said he will press the Bank of Japan to loosen
monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts
for price differences, Japan in 2012 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 2012. The new government will continue a
longstanding debate 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 |
OHMI INDUSTRIES LTD
Ohmi Industries KK
3-11-10
Minamisemba Chuoku Osaka 542-0081 JAPAN
Tel:
06-6252-2470 Fax: 06-6252-9884
URL: http://www.ohmiinds.co.jp/
E-Mail address: ohmi@ohmiinds.co.jp
Export
of steel, steel products
Tokyo
Ohmi Tetsu (India) Pvt Ltd (Delhi), Ohmi Steel India Pvt Ltd (Pune) (--subsidiaries), SMPC Industries (India) Pvt Ltd (26% shareholding)
KATSUHIKO
KOYAGI, PRES
Shinji
Koyagi, dir
Akira
Bando, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 17,953 M
PAYMENTS Usually
Correct CAPITAL Yen 200 M
TREND SLOW WORTH Yen 1,205 M
STARTED 1977 EMPLOYES 25
TRADING
FIRM SPECIALIZING IN STEEL & STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the basis of Export Division
separated from Ohmi Sangyo Co Ltd, steel service center operator, at the
caption address. The subject firm
specializes in exporting steel products: HR/CR for re-rolling/galvanizing,
coated sheets, automotive steel, other.
65% of the products are exported into India, other to Africa, Latin
America, Middle East, etc. In 2005
opened office in New Delhi and in 2007 in Pune.
In 2007, acquired 26% capital share of SMPC Industries (India) Pvt
Ltd. 60% of exporting products are
supplied from JFE Steel Corp.
The sales volume for Sept/2012 fiscal term amounted to Yen 17,953
million, a 13% down from Yen 20,646 million in the previous term. Exports were hurt by the high Yen, decreasing
earnings and profits in Yen terms. The
recurring profit was posted at Yen 259 million and the net profit at Yen 60
million, respectively, compared with Yen 353 million recurring profit and Yen
198 million net profit, respectively, a year ago.
For the current term ending Sept 2013 the recurring profit is projected
at Yen 270 million and the net profit at Yen 70 million, respectively, on a 5%
rise in turnover, to Yen 18,800 million.
Sales to automakers and exports to Asia are increasing, backed by
growing demand in India and other S/W Asian countries.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct 1977
Regd No.: 1200-01-076600 (Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.6 million shares
Issued:
400,000 shares
Sum: Yen 200
million
Major shareholders (%): Washin Trading Co* (51), Taiyo
Fudosan (19), Shinji Koyagi (8), Ohmi Industry (7)
*.. Subsidiary company
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports steel,
steel products: HR/CR for re-rolling/galvanizing (81.6%), building materials
(5.4%), automotive steel (7.7%), tin plates (2.2%), stainless steel (2.9%),
others (--0.2%).
Also handles: steel
sheet galvanizing equipment, color coating line, corrugating, roll forming
machines, leveling & shearing line, slitting line, metal sheets process
line, wire & nail making machines, others.
Exports to: India,
Bangladesh, Pakistan, Africa, Oceania, Latin America, Middle East, other.
Export % by
countries: South/East Asia (62.9%), Africa (19%), India (18%), other
Clients: [Mfrs, wholesalers]
Exports to India, Bangladesh, Pakistan, Nigeria, Ghana, Australia, other.
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Steel mfrs, wholesalers]
JFE Steel Corp (60%), Metal One Corp, Marubeni-Itochu Steel Inc, JFE
Galvanizing & Coating Co, Sumitomo Metal Ind, JFE Shoji Trade Corp, Nippon
Steel Trading Co, Shin Kansai Steel Co, other.
Payment record: Usually
Correct
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Semba)
Mizuho
Bank (Minamisemba)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
Annual
Sales |
|
18,800 |
17,953 |
20,646 |
17,810 |
|
Recur.
Profit |
|
270 |
259 |
353 |
381 |
|
Net
Profit |
|
70 |
60 |
198 |
131 |
|
Total
Assets |
|
|
2,733 |
3,640 |
3,323 |
|
Current
Assets |
|
|
1,968 |
2,840 |
2,484 |
|
Current
Liabs |
|
|
1,162 |
2,189 |
2,077 |
|
Net
Worth |
|
|
1,205 |
1,191 |
1,038 |
|
Capital,
Paid-Up |
|
|
200 |
200 |
200 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.72 |
-13.04 |
15.92 |
80.34 |
|
|
Current Ratio |
|
.. |
169.36 |
129.74 |
119.60 |
|
N.Worth Ratio |
.. |
44.09 |
32.72 |
31.24 |
|
|
R.Profit/Sales |
|
1.44 |
1.44 |
1.71 |
2.14 |
|
N.Profit/Sales |
0.37 |
0.33 |
0.96 |
0.74 |
|
|
Return On Equity |
.. |
4.98 |
16.62 |
12.62 |
|
Notes:
Forecast (or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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 |
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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.