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Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
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Name : |
FURUKAWA BUSSAN CO LTD |
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Registered Office : |
Mitoshirocho Bldg 3F, 11-8 Kanda-Mitoshirocho Chiyodaku Tokyo 101-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
August, 1962 |
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Legal Form : |
Limited Company |
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Line of Business : |
Export of industrial machinery, pulp & papers, electric/electronic
materials |
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No. of Employees : |
5 |
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 : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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) |
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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 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.
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Source : CIA |
FURUKAWA BUSSAN CO
LTD
Furukawa Bussan KK
Mitoshirocho Bldg 3F, 11-8 Kanda-Mitoshirocho Chiyodaku Tokyo 101-0053, JAPAN
Tel: 03-3292-1391 Fax:
03-3292-1395
URL: http://www.fbc.co.jp
E-Mail address: contact@fbc.co.jp
Export of industrial machinery, pulp & papers, electric/electronic
materials
Nil
MASANORI AONUMA, PRES
Hisaaki Aonuma, ch
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 708 M
PAYMENTS REGULAR CAPITAL Yen
10 M
TREND SLOW WORTH Yen 94 M
STARTED 1962 EMPLOYES 5
EXPORTER OF INDUSTRIAL MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Hisaaki Aonuma in order to make
most of his experience in the subject line of business. Masanori is his son, who took the pres office
in Nov 2004. This is a trading firm for
export of industrial machinery, pulp & paper, electric/electronic
materials, others (See OPERATION). Goods are exported to, USA, Pakistan,
Bangladesh, Korea, Taiwan, Saudi Arabia, other.
The sales volume for July/2012 fiscal term amounted to Yen 708 million,
an 8% down from Yen 772 million in the previous term. Exports were hurt by the high Yen, reducing
earnings & profits substantially.
The operations came back to profitability to register Yen 2 million
recurring profit and Yen 2 million net profit, respectively, compared with Yen
4 million recurring loss and Yen 2 million net losses, respectively, a year
ago.
For the current term ending July 2013 the recurring profit is projected
at Yen 3 million and the net profit at Yen 3 million, respectively, on a 3%
rise in turnover, to Yen 730 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Aug
1962
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued:
20,000 shares
Sum: Yen
10 million
Major shareholders
(%): Kazuo Aonuma, Kazushige Aonuma, Masanori Aonuma (each 1/3 of the share)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Exports
industrial machinery (60%), pulp & paper (20%), electric/electronic
materials, others (20%).
Handling Items:
For Wire &
Cable Industries: (Machinery) wire drawing machine, stranding machine, cable
extruder, shielding machine, braiding machine, tandem rolling mill machine,
butt welding machine, cold welding machine, taping machine, FFC film laminator,
talc master, pre-heater, cable printer, (Materials)
wire lubricant oil, copper wire, copper alloyed wire, nickel wire, nickel
alloyed wire, flat copper wire, wire drawing dies, cable nipple & dies,
cable compound, color master batch, solder wire, solder paste, jointing powder,
plastic bobbins, adhesive tapes, insulation films;
For Enamel Wire
Industries: (Machinery) horizontal enameling plant, vertical enameling
plant, super fine wire enameling plant; (Materials)
enamel varnishes, enamel coating dies, enamel coating felt, surface
lubricating wax;
For Micro Coaxial
Cable Industries: (Machinery) super fine drawing machine, high speed 6B tubular.
Shielding machine, 20mm Teflon extruding line, terminal soldering machine,
laser shielding wire cutter, laser micro welder; (Materials) tin-copper alloyed wire, silver-copper alloyed wire,
plastic bobbin, color master batch, PFA compound, solder wire/solder paste,
cable laminating tape;
Papers, Boards
& Pulps: (Printing papers) wood free (uncoated) paper, coated paper, cast
coated paper, self-adhesive sticker paper & film, thermal paper, non-carbon
paper, Kraft paper; (Industrial papers) electric
insulating paper, press board, cable insulating paper, cigarette paper,
plug-wrap paper, sack Kraft paper, transfer paper, fiber sheets, clean room
paper, decorative paper;
Materials for
Building & Furniture: solid color adhesive film, high gloss sheet, window
sheet, decorative paper, PVC sheet, wall materials, floor materials, valves,
pipes;
Industrial Items: electric cables,
enameled copper wires, electric & electronic parts, batteries, cells,
electric motors, insulating board, Bakelite products, ball bearings,
copper/aluminium tube, copper. Aluminium busbar, metal powered bushes &
gears, metalized film for electric capacitor, flexible flat cables, micro
coaxial cables, stainless steel products;
Lamp &
Equipments: halogen lamp, germicidal lamp, UV lamp, fluorescent lamp, infrared
lamp, xenon lamp, lamp holder;
Industrial
Machinery: aluminium die-casting machinery, zing die-casting machine, film winding
machine for capacitor making, ,used machinery for wire & cable making,
laser micro welder;
Others: construction
machinery, feed for prawn, other
Clients: [Mfrs,
wholesalers] Exports to: Pakistan (25%), Bangladesh (25%), Korea (20%), use,
Taiwan, Saudi Arabia, Turkey, Kuwait, Jordan, Israel, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hitachi Chemical Ind, Hitachi Appliances, Riken Technos, Phaeton
Corp, Lintec Co, Oji Specialty Paper Co, NTN, other
Payment record: Slow but Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Kanda)
Mizuho Bank (Kanda)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
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Annual Sales |
|
730 |
708 |
772 |
945 |
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Recur. Profit |
|
3 |
2 |
-4 |
7 |
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Net Profit |
|
3 |
2 |
-4 |
6 |
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Total Assets |
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|
126 |
150 |
155 |
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Current Assets |
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|
112 |
138 |
145 |
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Current Liabs |
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31 |
54 |
49 |
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Net Worth |
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|
94 |
95 |
106 |
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Capital, Paid-Up |
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|
10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.90 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.11 |
-8.29 |
-18.31 |
-1.25 |
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Current Ratio |
|
.. |
361.29 |
255.56 |
295.92 |
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N.Worth Ratio |
.. |
74.60 |
63.33 |
68.39 |
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R.Profit/Sales |
|
0.41 |
0.28 |
-0.52 |
0.74 |
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N.Profit/Sales |
0.41 |
0.28 |
-0.52 |
0.63 |
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Return On Equity |
.. |
2.13 |
-4.21 |
5.66 |
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Notes: Forecast (or estimated) figures for the 31/07/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.42 |
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UK Pound |
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.