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Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
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Name : |
HIDAN CO LTD |
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Registered Office : |
1-5-13 Kamezawa Sumidaku Tokyo 130-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
April 1950 |
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Com. Reg. No.: |
0106-01-032768 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures cosmetic
containers, bottles, covers, of plastic, synthetic resin, aluminum make,
others (--100%) |
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No. of Employees : |
160 |
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, 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 |
HIDAN CO LTD
REGD NAME: KK
Hidan
MAIN OFFICE: 1-5-13
Kamezawa Sumidaku Tokyo 130-0014 JAPAN
Tel:
03-3624-1134
E-Mail
address: (thru the URL)
Mfg of
cosmetic containers
Chiba
China
(2), Paris, USA
Funabashi,
China (2)
HIDEO
MATSUNUMA, PRES Kimihiro Rogi, s/mgn
dir
Tadashi
Okazawa, mgn dir Koji Kato, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,110 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen
5,180 M
STARTED 1950 EMPLOYES 160
MFR OF COSMETIC CONTAINERS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established originally in 1937 by father of Hideo Matsunuma, on his
account. Incorporated in 1950 the firm
has been succeeded by his descendants.
This is a specialized mfr of cosmetic containers, bottles, other, of
synthetic resin, plastic, aluminum, other make.
Clients include major cosmetic makers, nationwide.
Financials
are only partially disclosed.
The sales volume for Dec/2012
fiscal term amounted to Yen 6,110 million, a 7% down from Yen 6,593 million in
the previous term. The net profit is
estimated posted at Yen 300 million, compared with Yen 330 million a year
ago. The profits were not precisely
disclosed and these figures are estimated only.
For the
current term ending Dec 2013 the net profit is projected at Yen 310 million, on
a 3% rise in turnover, to Yen 6,300 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 110.4 million, on 30 days normal terms.
Date Registered: Apr 1950
Regd No.: 0106-01-032768 (Tokyo-Sumidaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen 100 million
Major shareholders (%): Hideo Matsunuma (90), Yoshiko
Matsunuma (10)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures cosmetic containers,
bottles, covers, of plastic, synthetic resin, aluminum make, others (--100%)
Clients: [Cosmetics mfrs] Shiseido Co, Kao
Corp, Chanel, Estee Lauder Inc Group, L’Oreal Group firms, Kanebo, other
No. of accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Daiwa Kinzoku
Kogyo, Akao Aluminum Co, Nakagawa Metal Ind, Koryo Jushi Corp, other.
Imports from factories in China,
France, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Chiba
Kogyo Bank (Kashiwa)
Shoko
Chukin Bank (Chiba)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual
Sales |
|
6,300 |
6,110 |
6,593 |
6,300 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
310 |
300 |
330 |
310 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
5,180 |
4,880 |
4,550 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.11 |
-7.33 |
4.65 |
5.00 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
4.92 |
4.91 |
5.01 |
4.92 |
|
Notes:
Financials are only partially disclosed.
Profits are estimated as not precisely disclosed
Forecast
(or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.84.97 |
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.