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Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
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Name : |
YOSHINO KOGYOSHO CO LTD |
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Registered Office : |
3-2-6 Ojima Kotoku |
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Country : |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
June 1948 |
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Com. Reg. No.: |
0106-01-006939 (Tokyo-Kotoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of plastic & PET bottles, containers, caps, hangers, vessels for application to food, cosmetics, pharmaceutical, chemical & detergent |
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No. of Employees : |
3,400 |
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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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 – 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 |
YOSHINO KOGYOSHO CO LTD
Yoshino Kogyosho
KK
3-2-6 Ojima Kotoku
Tokyo 136-0072 JAPAN
Tel:
03-3682-1141 Fax: 03-5609-7333
URL: http://www.yoshinokogyosho.co.jp
E-Mail address: info@yoshinokogyosho.co.jp
Mfg of
plastic containers, caps, hanger, other
Nil
At the caption address, Osaka, Matsudo, Ichikawa, Gunma, other (Tot 19)
Chicago,
Thailand (-- mfg plants)
SHOICHIRO
YOSHINO, PRES Tamotsu Toyota, s/mgn dir
Yasuo
Yoshino, dir Makoto
Mugikura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 197,000 M
PAYMENTS REGULAR CAPITAL Yen 432 M
TREND SLOW WORTH Yen 17,200 M
STARTED 1948 EMPLOYES 3,400
MFR OF PLASTIC PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1935 by grand father of Shoichiro Yoshino for making cork, on his account. Incorporated in 1948 the firm has been succeeded by his descendants. Shoichiro took the pres office in Dec 1997. This is a specialized mfr of plastic containers, bottles, caps, hangers, vessels, dusters, other. Has two overseas factories: Chicago and Thailand. Domestic clients include cosmetics mfrs, food processors, chemical makers, pharmaceutical makers, other, nationwide.
Financials are only partially disclosed as is the case with family-based companies.
The sales volume for May/2013 fiscal term amounted to Yen 197,000 million, a 4% down from Yen 204,544 million in the previous term. The net profit is believed posted at Yen 1,300 million, compared with Yen 1,400 million a year ago. Net profits are not precisely disclosed and only estimated.
For the current term ending May 2014 the net profit is projected at Yen 1,400 million, on a 3% rise in turnover, to Yen 203,000 million.
The financial situation is considered FAIR to GOOD and good for ORDINARY business engagements.
Date Registered: Jun 1948
Regd No.: 0106-01-006939 (Tokyo-Kotoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
3.4 million shares
Issued:
864,000 shares
Sum: Yen 432 million
Major shareholders (%): Shoichiro Yoshino &
families (--100)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures plastic & PET bottles, containers, caps, hangers, vessels, other for application to: food, cosmetics, pharmaceutical, chemical, detergent, other industries (--100%).
(Mfg technologies): injection molding, direct blow molding, PET bottles, tube molding, food containers (thermo forming molding), pump spray, cosmetic containers, other.
Clients: [Mfrs, wholesalers] Shiseido Corp, Kose Corp, Pola Corp, P&G Max Factor, Menard Japan, Japan Menard Corp, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] MCT PET Resin Co, Mitsubishi Chemical Corp, Sojitz Pla-Net Corp, Yoshino America Corp, Japan Unipet, other
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Kameido)
Norin
Chukin Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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31/05/2014 |
31/05/2013 |
31/05/2012 |
31/05/2011 |
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Annual
Sales |
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203,000 |
197,000 |
204,544 |
202,862 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
1,400 |
1,300 |
1,400 |
1,350 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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17,200 |
15,900 |
14,500 |
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Capital,
Paid-Up |
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432 |
432 |
432 |
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Div.P.Share(¥) |
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0.00 |
25.00 |
25.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.05 |
-3.69 |
0.83 |
-0.70 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.69 |
0.66 |
0.68 |
0.67 |
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Notes:
Financials are only partially disclosed.
Profits are not disclosed and estimated only.
Forecast
(or estimated) figures for the 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.98 |
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UK Pound |
1 |
Rs.101.49 |
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Euro |
1 |
Rs.84.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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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.