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Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
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Name : |
NIHON BETTER LIVING CO LTD |
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Registered Office : |
4-20 Motoshibata-Higashimachi Minamiku Nagoya 457-0816 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
July 1967 |
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Com. Reg. No.: |
1800-01-024115 (Nagoya-Minamiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of rugs & carpets, curtains, blinds, other upholstery |
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No. of Employees : |
71 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit: |
YEN 38.9 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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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
NIHON BETTER LIVING CO LTD
REGD NAME: Nihon
Better Living KK
MAIN OFFICE: 4-20
Motoshibata-Higashimachi Minamiku Nagoya 457-0816 JAPAN
Tel:
052-619-7707 Fax: 052-612-1127
URL: http://www.nbl.ne.jp
E-Mail address: (thru the URL)
Import, wholesale
of rugs & carpets, curtains, blinds, other upholstery
Tokyo, Hamamatsu,
Nagano, Matsumoto, Sendai, Shizuoka
NOBUYUKI OGAWA,
PRES Yoshiyuki Ogawa, ch
Jiro Ogawa, dir Takeo Ogawa, dir
Yuichi Itoh, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 4,503 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
90 M
TREND UP WORTH Yen 514 M
STARTED 1967 EMPLOYES 71
TRADING FIRM SPECIALIZING IN UPHOLSTERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 38.9 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established by Yoshiyuki Ogawa in order to make most of his experience in the
subject line of business. Nobuyuki is
his son. This is a family-based trading
firm for import and wholesale of rugs & carpets, curtains, blinds,
floorings, screens, other upholstery.
Goods are imported from China, Belgium, India, Pakistan, Turkey,
other.
The sales volume for
Mar/2012 fiscal term amounted to Yen 4,503 million, a 2% up from Yen 4,415
million in the previous term. The
recurring profit was posted at Yen 55 million and the net profit at Yen 8
million, respectively, compared with Yen 29 million recurring profit and Yen 5
million net profit, respectively, a year ago.
For the current term
ending Mar 2013 the recurring profit is projected at Yen 60 million and the net
profit at Yen 10 million, respectively, on a 3% rise in turnover, to Yen 4,650
million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 38.9
million, on 30 days normal terms.
Date Registered: Jul 1967
Regd No.:
1800-01-024115 (Nagoya-Minamiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 720,000 shares
Issued: 180,000 shares
Sum: Yen 90 million
Major shareholders (%): Nobuyuki Ogawa
(33), Yoshiyuki Ogawa (22), Teiken Kako (19), Jiro Ogawa (12), Takeo Ogawa (7)
No. of shareholders: 17
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales rugs & carpets, curtains, floorings, cushions, screens, other
upholstery (--100%)
Clients: [Mfrs,
wholesalers] Sugiya Kogei Co, Sunday Co, Sanyo Kougei Co, Curtain Jyutan Ogoku,
Shimachu Co, Edion Corp, other
No. of accounts:
500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Toyotsu Textile, JSR Trading, Toli Corp, Toray International,
Marubeni Intex, Yuasa Trading, Nichibei Co, Nihon Shikimono Seizo, other.
Imports from Belgium, India, Belgium,
Pakistan, Turkey, other
Payment record: No Complaints
Location: Business area in
Nagoya. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Otsu)
Bank of Nagoya
(Nonami)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
4,650 |
4,503 |
4,415 |
4,755 |
|
Recur.
Profit |
|
60 |
55 |
29 |
5 |
|
Net
Profit |
|
10 |
8 |
5 |
2 |
|
Total
Assets |
|
|
4,097 |
4,018 |
4,247 |
|
Current
Assets |
|
|
3,387 |
3,298 |
3,490 |
|
Current
Liabs |
|
|
2,636 |
2,558 |
2,660 |
|
Net
Worth |
|
|
514 |
505 |
501 |
|
Capital,
Paid-Up |
|
|
90 |
90 |
90 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.26 |
1.99 |
-7.15 |
-11.45 |
|
|
Current Ratio |
|
.. |
128.49 |
128.93 |
131.20 |
|
N.Worth Ratio |
.. |
12.55 |
12.57 |
11.80 |
|
|
R.Profit/Sales |
|
1.29 |
1.22 |
0.66 |
0.11 |
|
N.Profit/Sales |
0.22 |
0.18 |
0.11 |
0.04 |
|
|
Return On Equity |
.. |
1.56 |
0.99 |
0.40 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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 |
|
-- |
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.