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Report Date : |
16.12.2013 |
IDENTIFICATION DETAILS
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Name : |
NISSHO JITSUGYO CO LTD |
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Registered Office : |
Sumitomo Seimei Shin-Osaka Bldg North 9F, 4-1-14 Miyahara
Yodogawaku, Osaka 532-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2013 |
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Date of Incorporation : |
September, 1965 |
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Com. Reg. No.: |
1200-01-057537 (Osaka-Yodogawaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of packaging/wrapping materials |
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No. of Employees : |
49 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but 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 – 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 |
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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 |
NISSHO JITSUGYO CO
LTD
REGD NAME: Nissho Jitsugyo KK
MAIN OFFICE: Sumitomo Seimei Shin-Osaka Bldg North 9F,
4-1-14 Miyahara Yodogawaku
Osaka 532-0003
JAPAN
Tel: 06-6391-8845 Fax:
06-6345-8849
URL: www.nico.co.jp
E-Mail address: (thru the URL)
Import, export, wholesale of packaging/wrapping materials
Gifu, Kumamoto (Distribution centers)
SEIJI IKOMA, PRES
Yasuhiro Miki, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,794 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 30 M
TREND SLOW WORTH Yen 682 M
STARTED 1965 EMPLOYES 49
TRADING FIRM SPECIALIIZNG IN PACKAGING MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
This is a trading firm specializing in import, export and wholesale of
packages & containers (of grass, plastic, metals, other). Goods are exported to China, S/E Asia,
other. Domestic clients include food
makers, medicine makers, chemical makers, other, totaling about 300.
The sales volume for July/2013 fiscal term amounted to Yen 3,794
million, a 0.2% down from Yen 3,787 million in the previous term. Financials were in deficit due to
extraordinary losses coming from inventory disposal, other, and posted Yen 38
million net losses, compared with Yen 13 million recurring profit and Yen 7
million net profits, respectively, a year ago.
For the current term ending July 2014 the net profit is projected at Yen
10 million, on recurring 3% rise in turnover, to Yen 3,900 million.
Financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Sept
1965
Regd No.: 1200-01-057537
(Osaka-Yodogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued:
60,000 shares
Sum: Yen
30 million
Major shareholders
(%): Seiji Ikoma (34), Hoyu Co Ltd* (17), Yasuhiro Miki (3) +..
Cosmetics maker, Nagoya
No. of
shareholders: 30
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales packaging containers: of grass, plastics, metals, board papers,
other; food materials, other (--100%)
Clients: [Mfrs,
wholesalers] Hoyu Co, Hichifuku Jozo Corp, Kato Brothers’ Honey Co, Akitaya
Honten Co, Kagura Shuzo Co, Takara Shuzo Co, other
Exports to China, S/E Asia, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Taisei Kako Co (20%), Nihon Yamamura Glass Co (20%), Nihon
Taisanbin Glass Bottle Mfg Co (20%), Toyo Glass (20%), Toyo Seikan Kaisha,
Nippon Closures Co, Hirobo Group firms, other
Payment record: Slow but correct
Location: Business area in
Osaka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References:
MUFG (Shin-Osaka)
Shoko
Chukin Bank (Umeda)
Relations:
Satisfactory
|
Terms Ending: |
31/07/2014 |
31/07/2013 |
31/07/2012 |
31/07/2011 |
|
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Annual Sales |
|
3,900 |
3,794 |
3,787 |
4,169 |
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Recur. Profit |
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|
|
13 |
18 |
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Net Profit |
|
10 |
-38 |
7 |
6 |
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Total Assets |
|
|
2,345 |
2,281 |
2,389 |
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Current Assets |
|
|
1,325 |
1,256 |
1,386 |
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Current Liabs |
|
|
1,376 |
1,238 |
1,372 |
|
Net Worth |
|
|
682 |
718 |
720 |
|
Capital, Paid-Up |
|
|
30 |
30 |
30 |
|
DivTtl in Million (¥) |
|
|
3 |
3 |
3 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.79 |
0.18 |
-9.16 |
-5.03 |
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Current Ratio |
|
.. |
96.29 |
101.45 |
101.02 |
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N.Worth Ratio |
.. |
29.08 |
31.48 |
30.14 |
|
|
R.Profit/Sales |
|
.. |
.. |
0.34 |
0.43 |
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N.Profit/Sales |
0.26 |
-1.00 |
0.18 |
0.14 |
|
|
Return On Equity |
.. |
-5.57 |
0.97 |
0.83 |
|
Notes: Forecast (or estimated) figures for the 31/07/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
|
|
1 |
Rs.101.53 |
|
Euro |
1 |
Rs.85.41 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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 |
|
<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.