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Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
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Name : |
NISSAN MOTOR LIGHT TRUCK CO LTD |
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Registered Office : |
Sonic City Bldg, 1-7-5 Sakuragicho Omiyaku Saitama 330-0854 |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
October, 2003 |
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Com. Reg. No.: |
0300-01-014834 (Saitama-Omiyaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of LCV (light commercial vehicles) |
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No. of Employees : |
335 |
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 864.7 MILLION |
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Status : |
Satisfactory |
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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 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
NISSAN MOTOR LIGHT
TRUCK CO LTD
REGD NAME: Nissan Light Truck KK
MAIN OFFICE: Sonic City Bldg, 1-7-5 Sakuragicho Omiyaku
Saitama 330-0854
Tel: 048-657-9070 Fax: 048-642-6923
URL: http://www.nmlt.co.jp
E-Mail address: (thru the URL)
Mfg of LCV (light commercial vehicles)
Ageo
Europe, USA, India, China
Saitama (2)
ANDY PALMER, PRES Hideto
Murakami, dir
Kozo Hayashi, dir Hideki Isetani, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 16,126 M
PAYMENTS REGULAR CAPITAL Yen
2,250 M
TREND UP WORTH Yen 5,997 M
STARTED 2003 EMPLOYES 335
MFR OF LCV, AFFILICATED TO NISSAN MOTOR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 864.7 MILLION, 30 DAYS NORMAL TERMS
The subject company was established jointly by Nissan Motor Co (See REGISTATION) and UD Truck Co. The firm specializes in mfg LCV (light
commercial vehicles), power train parts & components (consigned from Nissan
Motor Co), other. Has sales subsidiaries
in USA, Europe, China, India, other.
Products are mostly shipped to the Nissan Group firms.
The sales volume for Mar/2013 fiscal term amounted to Yen 16,126
million, a 38% up from Yen 11,655 million in the previous term. Demand was robust from China, India,
other. The recurring profit was posted
at Yen 362 million and the net profit at Yen 144 million, respectively,
compared with Yen 304 million recurring profit and yen 178 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 380 million and the net profit at Yen 160 million, respectively, on a 5%
rise in turnover, to Yen 17,000 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 864.7 million, on 30 days normal terms.
Date Registered: Oct
2003
Regd No.: 0300-01-014834
(Saitama-Omiyaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 600,000 shares
Issued:
45,000 shares
Sum: Yen
2,250 million
Major shareholders
(%): Nissan Motor Co Ltd* (85), UD Truck Co Ltd (15)
No. of
shareholders: 2
*.. Nissan Motor Co, second largest automaker in Japan, Yokohama,
founded 1933, listed Tokyo S/E, capital Yen 605,814 million, sales Yen
9,629,574 million, operating profit Yen 523,544 million, recurring profit Yen
529,320 million, net profit Yen 342,446 million, total assets Yen 12,925,569
million, net worth Yen 3,879,752 million, employees 160,530, pres Carlos Ghosn
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures LCV
(light commercial vehicles), pertain (drivetrain units & engine parts), as
consigned from Nissan Motor Co, other (--100%)
Clients: [Mfrs,
wholesalers] Nissan Motor Co, UD Truck, Nissan Shatai Co, Nissan Motor Europe,
Nissan Motor USA, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Nissan Motor Co, Nissan Techno Co, other
Payment record: Regular
Location: Business area in
Saitama. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Tokyo)
Saitama
Resona Bank (Omiya)
Relations:
Satisfactory
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Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual Sales |
|
17,000 |
16,126 |
11,655 |
8,474 |
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Recur. Profit |
|
380 |
362 |
304 |
236 |
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Net Profit |
|
160 |
144 |
178 |
141 |
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Total Assets |
|
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9,285 |
9,508 |
8,060 |
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Current Assets |
|
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8,712 |
8,712 |
7,692 |
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Current Liabs |
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3,237 |
3,237 |
2,334 |
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Net Worth |
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5,997 |
5,853 |
5,676 |
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Capital, Paid-Up |
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2,250 |
2,250 |
2,250 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.42 |
38.36 |
37.54 |
0.74 |
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Current Ratio |
|
.. |
269.14 |
269.14 |
329.56 |
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N.Worth Ratio |
.. |
64.59 |
61.56 |
70.42 |
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R.Profit/Sales |
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2.24 |
2.24 |
2.61 |
2.78 |
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N.Profit/Sales |
0.94 |
0.89 |
1.53 |
1.66 |
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Return On Equity |
.. |
2.40 |
3.04 |
2.48 |
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Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.06 |
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|
1 |
Rs.102.03 |
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Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.