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Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
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Name : |
EISHIN INTERNATIONAL CO LTD |
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Registered Office : |
Hiranocho K1 Bldg 8F, 1-6-9 Hiranocho Chuoku Osaka 541-0046 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
May 1985 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of switchgear components, electrical materials |
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No. of Employees : |
9 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 (31.03.2011) |
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
EISHIN INTERNATIONAL CO LTD
REGD NAME: KK
Eishin International
MAIN OFFICE: Hiranocho
K1 Bldg 8F, 1-6-9 Hiranocho Chuoku Osaka 541-0046 JAPAN
Tel: 06-6202-4991 Fax: 06-6202-4992
URL: http://www.eishin.intl.co.jp
E-Mail address: mail@eishin.intl.co.jp
Import, export,
wholesale of switchgear components, electrical materials
Tokyo, other
MICHINOBU
YAMAMOTO, PRES
Takashi Masuda,
dir Yuko Yamamoto, dir
Shoji Yamamoto,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 10 M
PAYMENTS NO
COMPLAINT CAPITAL Yen 10 M
TREND UP WORTH Yen 283 M
STARTED 1985 EMPLOYES 9
TRADING FIRM SPECIALIZING IN ELECTRICAL EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Hidenobu Yamamoto in order to
make most of his experience in the subject line of business. Michinobu is his son, who took the pres
office in Jan 2008. Started exports of
electrical goods to Europe. This is a
trading firm, wholly owned and operated by the Yamamoto family, for import,
export and wholesale of switchgear components, electrical materials, others
(See OPERATION). Goods are imported from Europe, China, other,
and exported to S/E Asian countries.
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Mar/2012 fiscal term
amounted to Yen 1,500 million, a 15% up from Yen 1,300 million in the previous
term. Exports to S/E Asian countries
were robust. The net profit was posted
at Yen 15 million, compared with Yen 12 million a year ago.
For the current term ending Mar 2013 the net profit is projected at Yen
15 million, respectively, on a 3% rise in turnover, to Yen 1,550 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 27.0
million, on 30 days normal terms.
Date Registered: May
1985
Regd No.:
^
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Michinobu Yamamoto (75), Shoji Yamamoto (25)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales switchgear equipments, electrical materials, others (--100%)
(Handling
Items): copper bus bar, copper profile, copper processed components, heat shrinkable
tube for high/low voltage, epoxy insulator for high/low voltage, high voltage
cable connectors/terminators, insulated bus bar system for switchgear
connection, moulded components (BMC, PVC, epoxy), epoxy glass fiber
sheet/components, automatic transfer switch high/low voltage, PDP,KIP cable for
6.6KV, solid state relay, lead switchgear, AC/DC fans, high voltage connectors,
terminal blocks, others
Clients: [Mfrs,
wholesalers] Exports to: Singapore, Malaysia, Korea, Taiwan, China, other.
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from: Korea, Taiwan, France, Italy, Spain, Germany, China,
Canada, other
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Nakanoshima)
Resona Bank
(Osaka)
Relations:
Satisfactory
(In Million Yen)
|
|
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
1,550 |
1,500 |
1,300 |
1,000 |
|
Recur.
Profit |
|
|
|
|
|
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Net
Profit |
|
15 |
15 |
12 |
12 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
283 |
268 |
256 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
3.33 |
15.38 |
30.00 |
-28.57 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.97 |
1.00 |
0.92 |
1.20 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
|
1 |
Rs.85.25 |
|
Euro |
1 |
Rs.71.72 |
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 |
|
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.