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Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
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Name : |
SHIMODA KOGYO CO LTD |
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Registered Office : |
3-3-6 Utajima Nishi-Yodogawaku Osaka
555-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
January 1935 |
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Com. Reg. No.: |
1200-01-049731 (Osaka-Higashi-Yodogawaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter, wholesaler
of electric/electronic parts & products |
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No. of Employees : |
99 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Regular |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
SHIMODA KOGYO CO LTD
Shimoda Kogyo KK
3-3-6 Utajima
Nishi-Yodogawaku Osaka 555-0021 JAPAN
Tel:
06-6472-1541 Fax: 06-6472-1595
URL: http://www.shimoda-kk.co.jp
E-Mail address: (thru the URL)
Import,
export, wholesale of electric/electronic parts & products
Shiga,
Himeji, Hiroshima, Matsuyama, Ehime, Fukuoka, Ibaraki
China
(subcontracted)
KANJI
SHIMODA, PRES Mitsuru
Takase, mgn dir
Masahide
Hasegawa, mgn dir Yasuhiro Ichise, dir
Jiro
Ninomiya, dir Hitomi
Inui, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 23,158 M
PAYMENTSREGULAR CAPITAL Yen
96 M
TREND SLOW WORTH Yen 13,474 M
STARTED 1935 EMPLOYES 99
TRADING FIRM SPECIALIZING IN ELECTRIC/ELECTRONIC MATERIALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Toshiyuki Shimoda in 1935, and has been succeeded by his descendants. An old-established trading firm specializing in electric & electronic materials & products (See OPERATION). Goods are manufactured by subsidiaries in Japan and China. Active in expanding eco-friendly products and materials. Clients include electric & electronic makers nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen
23,158 million, a 1% down from Yen 23,363 million in the previous term. The recurring profit was posted at Yen 1,641
million and the net profit at Yen 889 million, respectively, compared with Yen
1,390 million recurring profit and Yen 975 million net profit, respectively, a
year ago.
For the current term ending Mar 2014 the recurring profit is
projected at Yen 1,700 million and the net profit at Yen 900 million,
respectively, on a 4% rise in turnover, to Yen 24,000 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered:
Jan 1935
Regd No.:
1200-01-049731 (Osaka-Higashi-Yodogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7.68 million shares
Issued: 1.92 million shares
Sum: Yen 96 million
Major
shareholders (%): Products Research & Development Inc (24.8), Tokyo
Shimoda Kogyo Co (12.5), Tokai Electric Co (12.5), Hideo Shimoda (8.6)
No. of shareholders: 127
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Imports, exports and wholesales electric/electronic materials & products: insulating materials (23%), circuits board (5%), electric wires (16&), metal parts (8%), FDP (4%), solar cells, mobiles, connectors, others (44%)
Clients: [Mfrs, wholesalers] Mitsubishi Electric Co, Mitsumi Electric, Tot Ltd, Panasonic Corp group, Nintendo, Sharp, Hoshiden Group, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Shin-Etsu Chemical Ind, Hitachi Chemical Ind, Toray DuPont Inc, Sumitomo Electric Ind, JST Mfg Co, other
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Dojima)
MUFG
(Osaka-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
24,000 |
23,158 |
23,363 |
26,298 |
|
Recur.
Profit |
|
1,700 |
1,641 |
1,390 |
1,578 |
|
Net
Profit |
|
900 |
889 |
775 |
911 |
|
Total
Assets |
|
|
18,460 |
17,672 |
17,780 |
|
Current
Assets |
|
|
15,922 |
15,133 |
|
|
Current
Liabs |
|
|
3,084 |
3,021 |
|
|
Net
Worth |
|
|
13,474 |
12,599 |
11,838 |
|
Capital,
Paid-Up |
|
|
96 |
96 |
96 |
|
Div.P.Share(¥) |
|
|
75.00 |
75.00 |
75.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.64 |
-0.88 |
-11.16 |
-19.56 |
|
|
Current Ratio |
|
.. |
516.28 |
500.93 |
.. |
|
N.Worth Ratio |
.. |
72.99 |
71.29 |
66.58 |
|
|
R.Profit/Sales |
|
7.08 |
7.09 |
5.95 |
6.00 |
|
N.Profit/Sales |
3.75 |
3.84 |
3.32 |
3.46 |
|
|
Return On Equity |
.. |
6.60 |
6.15 |
7.70 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
UK Pound |
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.