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Report Date : |
16.01.2013 |
IDENTIFICATION DETAILS
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Name : |
NAIGAI BUSSAN CO LTD |
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Registered Office : |
Sanyo Nissei Kawaramachi Bldg, 2-2-7 Kawaramachi Chuoku Osaka 541-0048 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2011 |
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Date of Incorporation : |
June 1939 |
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Com. Reg. No.: |
1200-01-068159 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of electronics materials/components, assembly product |
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No. of Employees : |
22 |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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
NAIGAI BUSSAN CO LTD
REGD NAME: Naigai
Bussan KK
MAIN OFFICE: Sanyo
Nissei Kawaramachi Bldg, 2-2-7 Kawaramachi Chuoku Osaka 541-0048
JAPAN
Tel:
06-6231-2615 Fax: 06-6222-3088
*..The is its Tokyo
Office
URL: http://www.naigai-bussan.co.jp
E-Mail address: (thru the URL)
Import, export,
wholesale of electronics materials/components, assembly product
Tokyo
Hong Kong, China
(2)
SHIGETARO
MATSUMOTO, PRES
Takuomi Matsumoto,
ch Naohisa Odani, mgn dir
Koshi Watanabe,
dir Yuichi Tanaka, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 13,630 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 20 M
TREND UP WORTH Yen 1,260 M
STARTED 1939 EMPLOYES 22
TRADING FIIRM SPECIALIZING IN ELECTRONICS MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established
on obtaining sole distributorship from the then Kanegafuchi Chemical Ind (now
Kaneka Corp). This is a trading firm
specializing in import, export and wholesale of electronics
materials/components, assembly products, chemicals, nonferrous metal products,
others. Distributing agent for: Kaneka
Corp, NEOMAX Co, Furukawa Electric Co, Hitachi Metal Co (partially). Operates three overseas offices: China (2),
and Hong Kong. Goods are exported to
China, and other S/E Asian countries.
The sales volume for Oct/2011 fiscal
term amounted to Yen 13,630 million, a 24% up from Yen 10,956 million in the
previous term. Exports were robust into
China, Indonesia, other S/E Asian countries.
The recurring profit was posted at Yen 192 million and the net profit at
Yen 64 million, respectively, compared with Yen 290 million recurring profit
and Yen 163 million net profit, respectively, a year ago.
For the term that ended Oct 2012 the
recurring profit was projected at Yen 200 million and the net profit at Yen 65
million, respectively, on a 3% rise in turnover, to Yen 14,000 million. Final results are yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Jun
1939
Regd No.:
1200-01-068159 (Osaka-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.6 million shares
Issued: 400,000 shares
Sum: Yen 20 million
Major
shareholders (%): Sanyo Senko Co (64), Takuomi Matsumoto (13), Shigetaro Matsumoto (10),
Sanyo Shoji Co (7)
No. of shareholders: 9
*.. Textile printing works, Hiroshima,
founded 1925, capital Yen 98 million, sales Yen 1,354 million, net profit Yen 8
million, employees 88, pres Shigetaro Matsumoto, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales electronic materials/components, assembly products, chemicals,
printed circuit board, nonferrous metal products, others (--100%)
Clients: [Mfrs,
wholesalers] Sanyo Electronic Components Suzhou, Sanyo Jaya Component
Indonesia, Naigai (Hong Kong) Ltd, Fine Altech Co, Panasonic AVC Networks
America, Sanyo Electric, Panasonic Plasma Display, New Japan Radio Co,
other
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Sanyo Electric, NEOMAX Material Co, Akebono Machine Ind, Marubeni Itochu Steel,
NNP Denshi Co, other
Payment record: Slow but correct
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Chugoku Bank
(Osaka)
MUFG (Kawaramachi)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/10/2012 |
31/10/2011 |
31/10/2010 |
31/10/2009 |
|
|
Annual
Sales |
|
14,000 |
13,630 |
10,956 |
9,475 |
|
Recur.
Profit |
|
200 |
192 |
290 |
|
|
Net
Profit |
|
65 |
64 |
163 |
136 |
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Total
Assets |
|
|
4,180 |
3,020 |
3,091 |
|
Current
Assets |
|
|
3,870 |
2,813 |
|
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Current
Liabs |
|
|
2,903 |
1,800 |
|
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Net
Worth |
|
|
1,260 |
1,203 |
1,048 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
17.50 |
17.50 |
17.50 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.71 |
24.41 |
15.63 |
3.79 |
|
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Current Ratio |
|
.. |
133.31 |
156.28 |
.. |
|
N.Worth Ratio |
.. |
30.14 |
39.83 |
33.90 |
|
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R.Profit/Sales |
|
1.43 |
1.41 |
2.65 |
.. |
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N.Profit/Sales |
0.46 |
0.47 |
1.49 |
1.44 |
|
|
Return On Equity |
.. |
5.08 |
13.55 |
12.98 |
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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.54.54 |
|
|
1 |
Rs.87.69 |
|
Euro |
1 |
Rs.72.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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.