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Report Date : |
10.01.2013 |
IDENTIFICATION DETAILS
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Name : |
SHOW-WA CO LTD |
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Registered Office : |
80 Nakanocho Fukushimacho Inazawa Aichi-Pref 492-8441 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April, 1961 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale, retail of fish, foods, liquor, other |
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No. of Employees : |
486 |
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 : |
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 |
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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 |
SHOW-WA CO LTD
KK Showa
80 Nakanocho Fukushimacho Inazawa Aichi-Pref 492-8441 JAPAN
Tel: 0587-34-3400 Fax:
0587-34-3410
E-Mail address: (thru the URL)
Import, wholesale, retail of fish, foods, liquor, other
Tokyo, Mie, Shizuoka, Nagoya, Atsugi, Fume
118 retail stores nationwide
(subsidiary)
KAZUAKI AOYAM, PRES Naomasa
Aoyama, s/mgn dir
Shigeyoshi Usui, mgn dir Masamichi
Kuboi, mgn dir
Hirotsugu Kako, dir Masahiko
Kameoka, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 160,078 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 960 M
TREND SLOW WORTH Yen 8,190 M
STARTED 1961 EMPLOYES 486
TRADING FIRM SPECIALIZING IN FISH, FOODS, LIQUOR, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally as a fishery company, and
has since expanded business to handle, fish, foods, liquor, other, and now tops
in Tokai region as a general foods trader.
Operates 118 stores centrally in Chukyo region up to Tohoku areas. Wholesaling clients include food stores, food
makers, other.
The sales volume for Mar/2012 fiscal term amounted to Yen 160,078
million, an almost similar amount in the previous term. The recurring profit was posted at Yen 860
million and the net profit at Yen 463 million, respectively, compared with Yen
962 million recurring profit and yen 473 million net profit, respectively, a
year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 870 million and the net profit at Yen 980 million, respectively, on a 2%
rise in turnover, to Yen 164,000 million.
Sales are picking up particularly in earthquake-devastated Tohoku
region, where the firm operates about 20 stores.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 1961
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7 million shares
Issued:
1.92 million shares
Sum: Yen 960 million
Major shareholders
(%): Kazuaki Aoyama, Itochu Corp, Employees’ S/Holding Assn, others
(Breakdown
unavailable
No. of
shareholders: 8
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, wholesales
and retails: fish, fishery products, business-use products, foods (processed,
chilled, frozen, other), liquor, materials, others, operating 118 retail stores
(--100%)
Clients: [Mfrs,
wholesalers] Uny Co, Kanemi Foods, Aoki Super, Nihon Foods Delica, Nagai Co,
other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Itochu Corp, Asahi Beer, Nippon Meat Packers Inc, Nissui Co, other
Payment record: No Complaints
Location: Business area in
Inazawa, Aichi-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Nagoya-Chuo)
MUFG (Nagoya)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
164,000 |
160,078 |
161,057 |
160,259 |
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Recur.
Profit |
|
870 |
860 |
962 |
818 |
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Net
Profit |
|
480 |
463 |
473 |
411 |
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Total
Assets |
|
|
38,140 |
34,209 |
32,767 |
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Current
Assets |
|
|
21,789 |
17,796 |
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Current
Liabs |
|
|
28,042 |
24,377 |
|
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Net
Worth |
|
|
8,190 |
7,651 |
7,327 |
|
Capital,
Paid-Up |
|
|
960 |
960 |
960 |
|
Div.P.Share(¥) |
|
|
0.00 |
49.00 |
50.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.45 |
-0.61 |
0.50 |
46.00 |
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Current Ratio |
|
.. |
77.70 |
73.00 |
.. |
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N.Worth Ratio |
.. |
21.47 |
22.37 |
22.36 |
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R.Profit/Sales |
|
0.53 |
0.54 |
0.60 |
0.51 |
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N.Profit/Sales |
0.29 |
0.29 |
0.29 |
0.26 |
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Return On Equity |
.. |
5.65 |
6.18 |
5.61 |
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Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.96 |
|
UK Pound |
1 |
Rs.88.23 |
|
Euro |
1 |
Rs.71.92 |
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.