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Report Date : |
03.12.2013 |
IDENTIFICATION DETAILS
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Name : |
NEW HOLLAND HFT JAPAN INC |
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Registered Office : |
Takeda Sapporo
Bldg 6F, 13-4 Kita-Ichijo Chuoku Sapporo 060-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May 1970 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, wholesaler of
tractors, combines, other agricultural machinery |
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No. of Employees : |
550 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
TATUS |
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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Maximum Credit Limit : |
Yen 741.0 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
NEW HOLLAND HFT JAPAN INC
Nihon New Holland
KK
Takeda Sapporo
Bldg 6F, 13-4 Kita-Ichijo Chuoku Sapporo 060-0001 JAPAN
Tel:
011-221-2130 Fax: 011-221-2025
E-Mail address: (thru the URL)
Import,
wholesale of tractors, combines, other agricultural machinery
55
locations nationwide
NAOTAKE
SHIBAMOTO, PRES Masaaki Shibamoto, mgn dir
Hiroyuki
Mukai, dir Hideaki
Terashima, dir
Tamao
Itakura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 24,200 M
PAYMENTS REGULAR CAPITAL Yen 240 M
TREND UP WORTH Yen 30,100 M
STARTED 1970 EMPLOYES 550
TRADING FIRM SPECIALIZING IN AGRICULTURAL MACHINERY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 741.0 MILLION, 30 DAYS NORMAL TERMS
The subject company
was established originally as Hokkai Jidosha Kogyo KK for selling and repairing
imported cars, and changed the name in 1995 as captioned. This is the leading importer of farm
machinery: tractors, combines, other. It
has 50% market share in Japan for large combines, and 50% market share for rice
planting machines in Hokkaido. Clients
include Zen-Noh Coop, other
Financials are only
partially disclosed.
The sales volume for
Mar/2013 fiscal term amounted to Yen 24,200 million, a 3% up from Yen 23,600
million in the previous term. The net
profit is estimated posted at Yen 1,350 million, compared with Yen 1,300
million a year ago. Profits are not
precisely disclosed and these figures are estimated only.
For the current term
ending Mar 2014 the net profit is projected at Yen 1,400 million, on a 5% rise
in turnover, to Yen 25,400 million.
Business is seen expanding steadily.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 741.0
million, on 30 days normal terms.
Date Registered: May
1970
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
480,000 shares
Issued: 480,000 shares
Sum: Yen 240 million
Major shareholders (%): Shibamoto Sangyo KK (50), CNH
Global NV (50)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, wholesales and retails agricultural machinery: tractors,
combines, other (--100%)
Clients: [Mfrs, wholesalers] Individual farmers, Hokuren Agricultural Coop,
Zen-Noh Coop, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] CNH Global NV,
Takakita Co, IHI Star, Kobashi Kogyo Co, other
Payment record: Regular
Location:
Business area in Sapporo. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References:
North
Pacific Bank (H/O)
MUFG
(Sapporo-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual
Sales |
|
25,400 |
24,200 |
23,600 |
23,000 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
1,400 |
1,350 |
1,300 |
1,280 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
30,100 |
29,155 |
28,200 |
|
Capital,
Paid-Up |
|
|
240 |
240 |
240 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.96 |
2.54 |
2.61 |
4.55 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
5.51 |
5.58 |
5.51 |
5.57 |
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Notes: Financials are only partially disclosed. Profits are not disclosed and estimated only
from the past.
Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.23 |
|
UK Pound |
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.64 |
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 |
|
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.