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Report Date : |
20.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANTOMI & CO LTD |
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Registered Office : |
Shin-Kobe Bldg, 1-1-1 Sannomiyacho Chuoku Kobe 650-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
June, 1948 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of rubbers, turbine flow meter, adhesives, air
valves, other |
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No. of Employees : |
15 |
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 |
|
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 – 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 |
SANTOMI & CO
LTD
KK Santomi Shoten
Shin-Kobe Bldg, 1-1-1 Sannomiyacho Chuoku Kobe 650-0021 JAPAN
Tel: 078-331-2525 Fax:
078-321-5072
E-Mail address: Osaka@santomi.net,
also Tokyo@santomi.net
Import, wholesale of rubbers, turbine flow meter, adhesives, air valves,
other
Tokyo, Osaka, Kusatsu (Shiga)
Korea (subsidiary)
KATSUFUMI KINOSHITA, PRES
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 2,481 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND STEADY WORTH Yen 680 M
STARTED 1948 EMPLOYES 15
IMPORTER AND WHOLESALER OF CYCLONE TURBINE FLOW METER, OTHER INDUSTRIAL
PARTS & COMPONENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Mikizo Kinoshita in order to make
most of his experience in the subject line of business. Takeshi is the founder’s son, who took the
pres office in Mar 2000. This is a trading
firm, owned by the Kinoshita family, specializing in import and wholesale of
rubbers, cyclone turbine flow meter used in the semiconductor industry, from
Korea, where the firm operates a subsidiary.
Also handles adhesives, air valves, plastic fittings & joints,
plastic bended tubes, soil improvement chemicals, other. Clients are major industrial machinery mfrs,
chemical firms, etc.
The sales volume for Dec/2012 fiscal term amounted to Yen 2,481 million,
a 14% down from Yen 2,877 million in the previous term. Demand slowed. Exports decreased due to the hike in
materials prices. High Yen hurt export,
reducing revenues & profits in Yen terms.
The recurring profit was posted at Yen 74 million and the net profit at
Yen 48 million, respectively, compared with Yen 89 million recurring profit and
Yen 53 million net profit, respectively, a year ago.
For the current term ending Dec 2013 the recurring profit is projected
at Yen 75million and the net profit at Yen 50 million, on a 5% rise in
turnover, to Yen 2,600.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Jun 1948
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued:
200,000
shares
Sum: Yen
10 million
Major shareholders (%): Takeshi
Kinoshita (15), Shinzo Kinoshita (12), Mikiya Kinoshita (5)
No. of shareholders: 23
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales cyclone turbine flow meters (from Korea), adhesives (Loctite), plastic fittings & joints,
plastic bended tubes, natural rubber, synthetic rubber, natural latex, synthetic resins, other rubber materials, mold
cleaners (cleaning rubber & liquid), other industrial parts &
components, soil improvement chemicals, others (--100%).
Clients: [Machinery mfrs,
other mfrs] Mitsubishi Heavy Ind, Dainippon Screen, Bando Chemical, Mitsuboshi Belt, Nippon Contex,
Sumitomo Special Metals, Daiwabo Co, Kurashiki Kako Co, Omron Switch &
Device Co, Togawa Rubber Co, Horiba Ltd, Mitsuboshi Belding Ltd, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Flowell Co, Takaha Kikou Co, Dau Tieng Rubber Corp, LG Chem, Tokyo Zairyo Co,
Mitsubishi Corp, Kaneka Corp, Ushio Lighting Inc, Henkel Japan Ltd, Tokyo
Commodity Exchange, other.
Imports from Korea, other
Payment record: No Complaints
Location: Business area in Kobe.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References:
Hyakujushi Bank (Kobe)
SMBC (Kobe)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual Sales |
|
2,600 |
2,481 |
2,877 |
2,686 |
|
Recur. Profit |
|
75 |
74 |
89 |
|
|
Net Profit |
|
50 |
48 |
53 |
28 |
|
Total Assets |
|
|
1,494 |
1,606 |
1,670 |
|
Current Assets |
|
|
1,211 |
1,337 |
|
|
Current Liabs |
|
|
814 |
974 |
|
|
Net Worth |
|
|
680 |
631 |
577 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.80 |
-13.76 |
7.11 |
64.89 |
|
|
Current Ratio |
|
.. |
148.77 |
137.27 |
.. |
|
N.Worth Ratio |
.. |
45.52 |
39.29 |
34.55 |
|
|
R.Profit/Sales |
|
2.88 |
2.98 |
3.09 |
.. |
|
N.Profit/Sales |
1.92 |
1.93 |
1.84 |
1.04 |
|
|
Return On Equity |
.. |
7.06 |
8.40 |
4.85 |
|
Notes: Forecast (or estimated) figures
for 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.