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Report Date : |
30.08.2013 |
IDENTIFICATION DETAILS
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Name : |
NITTSU SHOJI CO LTD |
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Registered Office : |
1-14-22 Kaigan Minatoku Tokyo 105-0022 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
October 1958 |
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Com. Reg. No.: |
0100-01-025515 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
importer, exporter and wholesaler of petroleum
products (including gasoline, propane, LPG) |
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No. of Employees : |
2,432 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 6,964.1 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 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 |
NITTSU SHOJI CO LTD
Nittsu Shoji KK
1-14-22 Kaigan
Minatoku Tokyo 105-0022 JAPAN
Tel: 03-6734-8800
URL: http://www.nittsushoji.co.jp
E-Mail address: inquiry-soumubu-eng@nittsushoji.co.jp
Wholesale
of petroleum oil, LP Gas, other
Nagoya,
Osaka, Hiroshima, Sapporo, Sendai, other (Tot 225)
USA, China
(3), Hong Kong, India, Thailand, Indonesia,
NOBORU
SHIBUSAWA, PRES
Masanori
Tanaka, s/mgn dir Kiyonori Iwanaga, mgn dir
Ryozo
Kamata, mgn dir Motoaki
Ikeda, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 378,301 M
PAYMENTSREGULAR CAPITAL Yen
4,000 M
TREND UP WORTH Yen 54,830 M
STARTED 1958 EMPLOYES 2,432
TRADING FIRM, OWNED BY NIPPON EXPRESS CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 6,964.1 MILLION, 30 DAYS NORMAL TERMS
The subject company was established on the basis of a trading division
separated from Nippon Express Co Ltd (See REGISTRATION). This is a trading firm for import, export and
wholesale of petroleum products (gasoline, propane, LPG), leasing, logistic
support, other. Clients include car
makers, food processors, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 378,301
million, a 3% up from Yen 368,898 million in the previous term. Petroleum oil prices hike contributed. The recurring profit was posted at Yen 7,612
million and the net profit at Yen 4,235 million, respectively, compared with
Yen 8,375 million recurring profit and Yen 4,645 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 7,800 million and the net profit at Yen 4,300 million, respectively, on
a 3% rise in turnover, to Yen 390,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 6,964.1 million, on 30 days normal terms.
Date
Registered: Oct 1958
Regd
No.: 0100-01-025515 (Tokyo-Minatoku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
35 million shares
Issued:
8.8 million shares
Sum:
Yen 4,000 million
Major
shareholders (%): Nippon Express Co Ltd* (100)
*.. Japan’s largest general transportation
company, Tokyo, founded 1937, listed Tokyo S/E, capital Yen 70,175 million,
sales Yen 1,513,327 million, operating profit Yen 33,206 million, recurring
profit Yen 41,500 million, net profit Yen 23,831 million, total assets Yen
1,247,612 million, net worth Yen 513,683 million, employees 64,834, pres Kenji
Watanabe
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading firm for
import, export and wholesale of petroleum products (gasoline, propane, LPG,
other) (--48.9%), leasing (16.1%), logistic support (9.8%), others (25.2%)
Clients: [Mfrs,
wholesalers] Nippon Express, Japan Post Co, Mitsuuroko Co, Mitsubishi Fuso
Truck & Bus Corp, Honda Motors, Itoen Ltd, Fast Retailing, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] JX Nippon Oil & Energy Corp, ENEOS Globe Corp, Idemitsu Kosan,
Toshiba Machinery, NEC Corp, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Mizuho Bank (Tokyo)
MUFG (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
390,000 |
378,301 |
368,898 |
346,659 |
|
Recur.
Profit |
|
7,800 |
7,612 |
8,375 |
7,859 |
|
Net
Profit |
|
4,300 |
4,235 |
4,645 |
4,648 |
|
Total
Assets |
|
|
234,099 |
232,914 |
225,378 |
|
Current
Assets |
|
|
182,400 |
184,879 |
177,884 |
|
Current
Liabs |
|
|
108,600 |
115,163 |
104,749 |
|
Net
Worth |
|
|
54,830 |
50,874 |
46,723 |
|
Capital,
Paid-Up |
|
|
4,000 |
4,000 |
4,000 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.09 |
2.55 |
6.42 |
9.49 |
|
|
Current Ratio |
|
.. |
167.96 |
160.54 |
169.82 |
|
N.Worth Ratio |
.. |
23.42 |
21.84 |
20.73 |
|
|
R.Profit/Sales |
|
2.00 |
2.01 |
2.27 |
2.27 |
|
N.Profit/Sales |
1.10 |
1.12 |
1.26 |
1.34 |
|
|
Return On Equity |
.. |
7.72 |
9.13 |
9.95 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.71 |
|
UK Pound |
1 |
Rs.105.14 |
|
Euro |
1 |
Rs.90.03 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.