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Report Date : |
23.02.2013 |
IDENTIFICATION DETAILS
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Name : |
NISHIYAMA CORPORATION |
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Registered Office : |
4-11-11 Omori-Kita Otaku Tokyo 143-0016 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
July 1947 |
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Com. Reg. No.: |
0108-01-013514 (Tokyo-Otaku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, export, wholesale of industrial rubber & plastic products, industrial machinery & equipment |
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No. of Employees : |
287 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 793.7 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 (31.03.2012) |
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 |
NISHIYAMA CORPORATION
KK Nishiyama
4-11-11 Omori-Kita
Otaku Tokyo 143-0016JAPAN
Tel:
03-5767-5351 Fax: 03-5767-4156
URL: http://www.nishiyama.co.jp
E-Mail
address: inform@nishiyama.co.jp
Import,
export, wholesale of industrial rubber & plastic products, industrial machinery & equipment
Osaka,
Nagoya, Hitachi, Akashi, Hiroshima, Fukuoka
New
York, Nebraska (--USA), Dusseldorf, Shanghai, Thailand
MASAYUKI
SATO, PRES Hiromu
Nishiyama, ch
Minoru
Kojima, mgn dir Takeshi
Kageyama, mgn dir
Haruyuki
Hatano, mgn dir Koji
Nakagawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 28,152 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
484 M
TREND UP WORTH Yen 7,967 M
STARTED 1947 EMPLOYES 287
TRADING FIRM SPECIALIZING IN INDUSTRIAL RUBBER PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 793.7 MILLION, 30 DAYS NORMAL TERMS
The subject
company was established originally in 1916 by a certain Nishiyama for handling
industrial rubber products, on his account, as Nishiyama Rubber Shoten. Incorporated in 1947 the firm has been
succeeded by his descendants. This is a
trading firm for import, export and wholesale of industrial equipment,
transportation machinery & equipment, information & communications,
electronics, semiconductors, other (See OPERATION). Business into energy & utilities fields
account for over 40% of total sales.
Established a subsidiary in Thailand in May 2012. Clients include gas companies, railways,
machinery makers, other, nationwide.
The sales
volume for Mar/2012 fiscal term amounted to Yen 28,152 million, a 14% up from
Yen 24,694 million in the previous term.
Exports were robust. Price hikes
of the products contributed. The
recurring profit was posted at Yen 1,412 million and the net profit at Yen 682
million, respectively, compared with Yen 649 million recurring profit and Yen
359 million net profit, respectively, a year ago.
For the
current term ending Mar 2013 the recurring profit is projected at Yen 1,450
million and the net profit at Yen 700 million, respectively, on a 3% rise in
turnover, to Yen 29,000 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 793.7 million, on 30 days normal terms.
Date Registered: July 1947
Regd No.: 0108-01-013514
(Tokyo-Otaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 17 million shares
Issued:
4.38 million shares
Sum: Yen
484 million
Major shareholders
(%): Hiromu Nishiyama
(15.0), Tomoo Yajima (13.0)
No. of shareholders: 88
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for import, export and
wholesale of industrial rubber & plastic products, industrial equipment,
measuring instruments, other (--100%)
(Handling Items):
Energy Systems Division: NEXT lining method, measuring
diaphragms for gas meters, gas bags, insertion-type waterproof devices,
infrared radiation temperature measuring instruments, corrosion protection
materials, sDSL transmission equipment, ISDN central office simulators, test
system for type approval, facsimile tester;
Industrial Equipment Division: FDR high precision rubber
vulcanization (curving) tester, omniseals by US Saint Gobain Performance
Plastic Inc, metallic seal rings, manipulators by Schilling robotics LLC,
hoses;
Electro Controllers Division: meter to measure dissolved
ozone in liquid, ultrasonic dosimeter, use point temperature control system.
Clients: [Mfrs, wholesalers] Tokyo Gas Co,
Kawasaki Heavy Ind, Japan Railways, Hitachi Ltd, Tokyo Electron, Advantest,
Nippon Sharyo Co, Japan Transport Engineering Co, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Toyo Rubber Ind,
Yokohama Rubber, Togawa Rubber, Sumitomo 3M Ltd, Nitto Kohki Co, Nishikawa
Rubber Co, Rion Co, other
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Omori)
Mizuho
Bank (Omori)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
29,000 |
28,152 |
24,694 |
21,214 |
|
Recur.
Profit |
|
1,450 |
1,412 |
649 |
97 |
|
Net
Profit |
|
700 |
682 |
359 |
56 |
|
Total
Assets |
|
|
18,816 |
18,392 |
16,638 |
|
Current
Assets |
|
|
12,187 |
11,694 |
10,124 |
|
Current
Liabs |
|
|
9,044 |
8,925 |
7,671 |
|
Net
Worth |
|
|
7,967 |
7,314 |
7,035 |
|
Capital,
Paid-Up |
|
|
484 |
484 |
484 |
|
Div.P.Share(¥) |
|
|
15.00 |
15.00 |
10.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.01 |
14.00 |
16.40 |
-14.88 |
|
|
Current Ratio |
|
.. |
134.75 |
131.03 |
131.98 |
|
N.Worth Ratio |
.. |
42.34 |
39.77 |
42.28 |
|
|
R.Profit/Sales |
|
5.00 |
5.02 |
2.63 |
0.46 |
|
N.Profit/Sales |
2.41 |
2.42 |
1.45 |
0.26 |
|
|
Return On Equity |
.. |
8.56 |
4.91 |
0.80 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.42 |
|
UK Pound |
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
|
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 |
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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.