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Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
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Name : |
NICHIBEI KOYU CO LTD |
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Registered Office : |
4-25-15 Minamihorie Nishiku Osaka 550-0015
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
July 1935 |
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Com. Reg. No.: |
1200-01-049022 (Osaka-Nishiku) |
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Legal Form : |
Limited Company |
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Line of Business : |
· importer, exporter and wholesaler of petroleum products such as gasoline, heavy oil, LPG, petroleum products, lubricants, solvents Subject also operates gasoline stations nationwide. |
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No. of Employees : |
434 |
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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Maximum Credit Limit : |
Yen 1,134.8 Million |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
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Source : CIA |
NICHIBEI KOYU CO LTD
Nichibei Koyu KK
4-25-15
Minamihorie Nishiku Osaka 550-0015 JAPAN
Tel: 06-6538-7071 Fax: 06-6538-7010
E-Mail address: (thru the URL)
Import,
export, wholesale of petroleum products; operation of gasoline stations
Tokyo,
Chiba, Kagoshima, Saitama, Okayama, Sapporo, other (Tot 75)
33
gasoline stations nationwide (from Hokkaido to Kagoshima)
SHIGEHIKO
OHTA, PRES Tetsuo Watanabe, s/mgn dir
Toyokazu
Ogawa, mgn dir Yoshitada Tasoe, mgn dir
Yoshiyuki
Yonemaru, mgn dir Kazutaka Uno, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 48,824 M
PAYMENTS No
Complaints CAPITAL Yen
255 M
TREND UP WORTH Yen 5,969 M
STARTED 1935 EMPLOYES 434
TRADING FIRM SPECIALIZING IN PETROLEUM PRODUCTS; OPERATION
OF GASOLINE STATIONS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,134.8 MILLION, 30 DAYS NORMAL TERMS
The subject company was established as old as in 1935 on obtaining sales agency from the then Standard Oil in USA. This is a trading firm for import, export and wholesale of petroleum products: gasoline, heavy oil, LPG, petroleum products, lubricants, solvents, other. Also operates gasoline stations nationwide. Leading sales agent of JX Nippon Oil & Energy Corp, top-ranked petroleum & metal products business (who is the top shareholder of the firm). Sales of heavy oil for electric powers are rising. Clients include major electric powers, makers, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 48,824 million, a 7% up from Yen 45,767 million in the previous term. Sales/demand for heavy oil from electric powers increased. The recurring profit was posted at Yen 1,411 million and the net profit at Yen 679 million, respectively, compared with Yen 1,228 million recurring profit and yen 414 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 1,500 million and the net profit at Yen 690 million, respectively, on a 5% rise in turnover, to Yen 51,000 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 1,134.8 million, on 30 days normal terms.
Date Registered: Jul
1935
Regd No.: 1200-01-049022 (Osaka-Nishiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 2
million shares
Issued:
510,000 shares
Sum: Yen 255 million
Major shareholders (%): JX Nippon Oil & Energy Corp
(29), Shigehiko Ohta (17), Employees’ S/Holding Assn (10)
No. of shareholders: 112
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales petroleum products (77.4%), LPG & products (12.1%), petro-chemical products (2.5%), others (8%); operating 33 gasoline stations nationwide.
Clients: [Mfrs, wholesalers] Kyushu Electric Power, Nippo Corp, Nitto Denko Corp, Toyo Tire & Rubber Co, Nihon Nohyaku Co, NSK Ltd, Daiichi Sankyo Co, Nichicon Corp, Toyo Ink Co, Sojitz Corp, Dai Nippon Toryo Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] JX Nippon Oil & Energy Corp (85%), Marubeni Energy Corp, Panasonic Home Engineering, Nippon Seiro Co, New Pig Corp, ENEOS Group firms, Hayashikane Oil Co, San-Ai Oil, other
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Osaka)
SMBC (Osaka H/O)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual
Sales |
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51,000 |
48,824 |
45,767 |
41,545 |
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Recur.
Profit |
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1,500 |
1,411 |
1,228 |
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Net
Profit |
|
690 |
679 |
414 |
362 |
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Total
Assets |
|
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18,532 |
18,177 |
17,204 |
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Current
Assets |
|
|
9,307 |
9,283 |
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Current
Liabs |
|
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7,673 |
8,281 |
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Net
Worth |
|
|
5,969 |
5,320 |
4,937 |
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Capital,
Paid-Up |
|
|
155 |
255 |
255 |
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Div.Ttl
in Million (¥) |
|
|
30.6 |
30.6 |
30.6 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.46 |
6.68 |
10.16 |
11.23 |
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Current Ratio |
|
.. |
121.30 |
112.10 |
.. |
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N.Worth Ratio |
.. |
32.21 |
29.27 |
28.70 |
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R.Profit/Sales |
|
2.94 |
2.89 |
2.68 |
.. |
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N.Profit/Sales |
1.35 |
1.39 |
0.90 |
0.87 |
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Return On Equity |
.. |
11.38 |
7.78 |
7.33 |
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Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.21 |
|
UK Pound |
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.15 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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-- |
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.