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Report Date : |
16.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
JFE SHOJI TRADE CORPORTION |
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|
|
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Registered Office : |
1-6-20 Dojima Kitaku Osaka |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
August 2004 |
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|
|
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Com. Reg. No.: |
(Osaka-Kitaku)
062403 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter, wholesaler of steel, iron ore,
chemicals, machinery |
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|
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No. of Employees : |
933 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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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 |
|
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 |
JFE SHOJI TRADE CORPORTION
JFE Shoji KK
1-9-5 Ohtemachi
Chiyodaku Tokyo 100-8070 JAPAN
Tel:
03-5203-5510
Fax: 03-5203-5289
*.. Registered at: 1-6-20 Dojima Kitaku Osaka
.
URL: http://www.jfe-shoji.co.jp/
E-Mail address: (through the URL)
Import, export, wholesale of steel, iron ore, chemicals, machinery, other
(Domestic)
21 locations
Korea (2), China (3), Taiwan (2), Vietnam (2), India (4), Australia (2),
USA (3), India, other. (Total 32 in 17
countries)
TSUTOMU
YAJIMA, PRES Kohei Yoshioka, s/mgn
dir
Katsuyoshi
Takaya, s/mgn dir Hidehiko Ogawa,
s/mgn dir
Masaru
Saruwatari, s/mgn dir Takeshi
Fujiwara, mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,743,900 M
PAYMENTS REGULAR CAPITAL Yen 14,539 M
TREND SLOW WORTH Yen
134,600 M
STARTED 1948 EMPLOYES 933
TRADING HOUSE OWNED BY JFE SHOJI HOLDINGS INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
This is a trading company belonging to JFE Shoji Holdings Inc, which was
created on 01/Aug/2004 by Kawasho Corp, Kawasaki Steel group trading
house. On 01/Oct/2004, Kawasho Corp and
NKK Trading Inc, NKK group trading house, merged when the two parents, Kawasaki
Steel and NKK merged to become JFE Holdings Inc. At the same time, the group reorganized into
four individual companies under the control of JFE Shoji Holdings Inc: JFE
Shoji Trade Corporation (consolidated steel business), Kawasho Foods
Corporation (foods business), Kawasho Semiconductor Corporation (semiconductor
business) and Kawasho Real Estate Corporation (real estate business). 98% of sales are generated by the subject
firm and this is the core of the group firms.
In Oct 2010 acquired of all issued shares in Republic Coal Pty Ltd,
Australia. In Jun 2010 established JV
with Summit Corp Thailand, as Steel Alliance Service Center Co Ltd, a steel
processing center mainly serving the automobile industry. The firm was listed on the Tokyo S/E Apr
2012. The firm became a wholly-owned
subsidiary of JFE Holdings in Oct 2012 through a stock swap, and the company
was delisted on September 26, 2012.
The sales volume for Mar/2013 fiscal term amounted to Yen 1,743,900
million, a 16% down from 2,086,595 million in the previous term. Sales declined due mainly to decline prices
of steel products and raw materials for producing steel. The recurring profit was posted at Yen 15,000
million and the net profit at Yen 7,100 million, respectively, compared with
Yen 17,283 million recurring profit and Yen 12,108 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 17,000 million and the net profit at Yen 10,000 million, respectively,
on a 5% rise in turnover, to Yen 1,830,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Aug
2004
Regd No.: (Osaka-Kitaku) 062403
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
115 million shares
Issued:
29 million shares
Sum: Yen 14,539 million
Major shareholders: JFE Holdings Inc* (100)
*.. Holding company formed thru business combination between Kawasaki
Steel and NKK, Tokyo, founded 2002, listed Tokyo, Osaka, Nagoya S/E’s, capital
Yen 147,143 million, sales Yen 3,189,198 million, operating profit Yen 39,873
million, recurring profit Yen 52,214 million, net profit Yen 39,599 million,
total assets Yen 4,107,519 million, net worth Yen 1,598,797 million, employees
54,341, pres Hajime Bada
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales steel, steel
products (60%), materials, chemicals, oil & fuels (20%), machinery &
equipment, others (10%)
Clients: [Mfrs,
wholesalers] JFE Steel (50%), Nissan Motor, Mitsubishi Motors, Samsung Japan,
other.
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] JFE Steel, JFE Chemical, JFE Steel Plate, BM Alliance, BHP
Billiton, Wesfarmers, Vale, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Mizuho Corporate Bank (Osaka)
MUFG (H/O)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
1,830,000 |
1,743,900 |
2,086,595 |
2,011,526 |
|
Recur.
Profit |
|
17,000 |
15,000 |
17,283 |
23,783 |
|
Net
Profit |
|
10,000 |
7,100 |
12,108 |
13,645 |
|
Total
Assets |
|
|
523,000 |
576,493 |
571,364 |
|
Current
Assets |
|
|
|
470,077 |
462,737 |
|
Current
Liabs |
|
|
|
433,593 |
429,676 |
|
Net
Worth |
|
|
134,600 |
123,692 |
117,426 |
|
Capital,
Paid-Up |
|
|
14,539 |
14,539 |
14,539 |
|
Div.Ttl
Million (¥) |
|
|
707 |
2,400 |
2,400 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.94 |
-16.42 |
3.73 |
0.08 |
|
|
Current Ratio |
|
.. |
.. |
108.41 |
107.69 |
|
N.Worth Ratio |
.. |
25.74 |
21.46 |
20.55 |
|
|
R.Profit/Sales |
|
0.93 |
0.86 |
0.83 |
1.18 |
|
N.Profit/Sales |
0.55 |
0.41 |
0.58 |
0.68 |
|
|
Return On Equity |
.. |
5.27 |
9.79 |
11.62 |
|
Notes:
Financials are disclosed in rounded-off numbers for the 31/03/2013 fiscal term.
Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
UK Pound |
1 |
Rs.90.71 |
|
Euro |
1 |
Rs.78.47 |
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 |
|
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.