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Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
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Name : |
NIKKI UNIVERSAL CO LTD |
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Registered Office : |
Nissei Bldg 8F, 1-6-3 Osaki Shinagawaku Tokyo 141-8563 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
September 1963 |
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Com. Reg. No.: |
0107-01-007495 (Tokyo-Shinagawaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacture of refining & petrochemical catalysts, chemicals, others |
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No. of Employees : |
206 |
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 – 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 |
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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 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
NIKKI UNIVERSAL CO LTD
REGD NAME: Nikki
Universal KK
MAIN OFFICE: Nissei
Bldg 8F, 1-6-3 Osaki Shinagawaku Tokyo 141-8563 JAPAN
Tel:
03-5436-8413 Fax: 03-5436-8388
URL: http://www.n-u.co.jp
E-Mail address: sales@n-u.co.jp
Mfg of refining
& petrochemical catalysts, chemicals, others
Hiratsuka
(laboratory)
Hiratsuka
(Kanagawa)
HIROFUMI ITOH,
PRES Yoshiki Nakano, mgn dir
Hideyuki Yunoki,
dir Takayuki Shimogaki, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 7,902 M
PAYMENTS REGULAR CAPITAL Yen 1,000 M
TREND SLOW WORTH Yen 7,674 M
STARTED 1952 EMPLOYES 206
MFR OF CATALYSTS FOR REFINING & PETROCHEMICAL USE.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established as a joint venture by JGC Corp (See REGISTRATION) and UOP LLC (USA), for mfg refining &
petrochemical catalysts, chemicals, others.
Clients are oil refineries, petrochemical industries, other, nationwide
The sales volume for
Dec/2011 fiscal term amounted to Yen 7,902 million, a 15% down from Yen 9,289
million in the previous term. Oil
reining and petrochemical industries were slow to recover, with no new facilities
hardly built. The recurring profit was
posted at Yen 1,055 million and the net profit at Yen 880 million,
respectively, compared with Yen 1,369 million recurring profit and Yen 841
million net profit, respectively, a year ago.
For the term that ended
Dec 2012 the recurring profit was projected at Yen 1,100 million and the net
profit at Yen 920 million, respectively, on a 3% rise in turnover, to Yen 8,150
million. Final results are yet to be
released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered:
Sept 1963
Regd No.:
0107-01-007495 (Tokyo-Shinagawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8 million shares
Issued: 2 million shares
Sum: Yen 1,000 million
Major shareholders (%): JGC Corp* (50),
UOP LLC (USA) (50)
No. of shareholders: 2
*.. Plant engineering firm, Yokohama,
founded 1928, listed Tokyo S/E, capital Yen 23,511 million, sales Yen 556,966
million, operating profit Yen 67,053 million, recurring profit Yen 72,550
million, net profit Yen 39,111 million, total assets Yen 552,034 million, net
worth Yen 302,453 million, employees 6,524, pres Keisuke Takeuchi
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Manufactures
refining & petrochemical catalysts for UOP processes, chemicals, measuring
instruments, environmentally friendly catalysts, others (--100%)
Clients: [Mfrs,
wholesalers] UOP LLC, UOP CH, UOP AP, Taiyo Oil Co, Mizushima Paraxylen Co,
other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] UOP LLC, Tanaka Kikinzoku Hambai, Mitsubishi Corp, Toray Ind,
Nippon Chemicals Sales, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (H/O)
MUFG (Tokyo)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
Annual
Sales |
|
8,150 |
7,902 |
9,289 |
13,447 |
|
Recur.
Profit |
|
1,100 |
1,055 |
1,369 |
2,011 |
|
Net
Profit |
|
920 |
880 |
841 |
1,221 |
|
Total
Assets |
|
|
9,168 |
8,798 |
10,454 |
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Current
Assets |
|
|
6,948 |
6,779 |
8,248 |
|
Current
Liabs |
|
|
1,356 |
1,356 |
2,974 |
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Net
Worth |
|
|
7,674 |
7,394 |
7,401 |
|
Capital,
Paid-Up |
|
|
1,000 |
1,000 |
1,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.14 |
-14.93 |
-30.92 |
-4.50 |
|
|
Current Ratio |
|
.. |
512.39 |
499.93 |
277.34 |
|
N.Worth Ratio |
.. |
83.70 |
84.04 |
70.80 |
|
|
R.Profit/Sales |
|
13.50 |
13.35 |
14.74 |
14.96 |
|
N.Profit/Sales |
11.29 |
11.14 |
9.05 |
9.08 |
|
|
Return On Equity |
.. |
11.47 |
11.37 |
16.50 |
|
Notes: Forecast (or
estimated) figures for the 31/12/2012 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 |
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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 |
|
-- |
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.