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Report Date : |
20.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHIMA TRADING CO LTD |
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Registered Office : |
2-12-14 Ginza Chuoku Tokyo 104-0061 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
July 1921 |
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Com. Reg. No.: |
0100-01-045959 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, wholesaler of industrial chemicals, lubricating
oils, machinery |
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No. of Employees : |
137 |
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 |
SHIMA TRADING CO LTD
Shima Boeki KK
2-12-14 Ginza
Chuoku Tokyo 104-0061 JAPAN
Tel:
03-3542-3111 Fax: 03-3542-3345
URL: http://www.shima-tra.co.jp/
E-Mail address: (thru the URL)
Import,
wholesale of industrial chemicals, lubricating oils, machinery, other
Osaka,
Nagoya
USA,, China
(Shanghai), Singapore, Malaysia, Taiwan, Korea (--subsidiaries)
KOSHI
SHIMA, PRES Shin’ichiro
Taki, mgn dir
Motoshi
Yoshimura, dir Tsuguo Noda,
dir
Keitaro
Hirai, dir Kazuki
Takahashi, dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 37,860 M
PAYMENTSREGULAR CAPITAL Yen
330 M
TREND SLOW WORTH Yen 8,070 M
STARTED 1921 EMPLOYES 137
TRADING
FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS, MACHINERY, OTHER.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1905 by Sadajiro
Shima, on his account, for wholesaling industrial chemicals &
machinery. Incorporated in 1921 the firm
has been succeeded by his descendants.
This is a trading firm for import, export and wholesale of industrials
chemicals, pharmaceuticals, lubricating oils, plastics, machinery, other. Operates 6 overseas subsidiaries for
import/export businesses. Imports/exports
account for 44% of total sales.
The sales volume for Sept/2012 fiscal term amounted to Yen 37,860
million, a 3% down from Yen 39,055 million in the previous term. High Yen hurt imports/exports, reducing
revenues in Yen terms. The recurring
profit was posted at Yen 1,289 million and the net profit at Yen 712 million,
respectively, compared with Yen 1,208 million recurring profit and Yen 654
million net profit, respectively, a year ago.
For the current term ending Sept 2013 the recurring profit is projected
at Yen 1,350 million and the net profit at Yen 750 million, respectively, on a
5% rise in turnover, to Yen 39,700 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jul
1921
Regd No.: 0100-01-045959 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
28 million shares
Issued: 7.56 mill shares
Sum: Yen 330 million
Major shareholders (%):Employees’ S/Holding Assn
(16.5), Shintaro Yoshimura (11.4), Koshi Shima (11.0), Treasury Stock (10.8),
JGC Corp (8.0)
No. of shareholders: 97
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales industrial chemicals, fine chemicals, pharmaceutical &
cosmetic materials, plastics, electronics (55%), lubricating oils, additives,
oils & fats (17%), machinery & machine parts, metal products (24%),
food/confectionery materials, others (--4%).
Imports/Exports (44%).
Clients: [Mfrs,
wholesalers] Shima Trading Co (USA), FIC America, Shiseido Ltd, Shin-Etsu
Chemical Ind, Tappan Printing, Futaba Indiana of America, Dongquan Futaba metal
Products, SKH Metals, Warker Australia, Mark Exhaust, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Futaba Trading, Mitsui Chemical, Sonneborn Inc, Japan Epoxy Resin,
Clayton Polymer Japan, Japan Chemical, Kao Corp, Sanyo Chemical Ind, Aica
Kogyo, Fuji Kasei Co, other.
Payment record: Regular
Location: Business area in Tokyo.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank
References:
SMBC (H/O)
MUFG (Kyobashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
Annual
Sales |
|
39,700 |
37,860 |
39,055 |
36,849 |
|
Recur.
Profit |
|
1,350 |
1,289 |
1,208 |
1,218 |
|
Net
Profit |
|
750 |
712 |
654 |
666 |
|
Total
Assets |
|
|
19,158 |
16,233 |
15,620 |
|
Current
Assets |
|
|
17,775 |
14,899 |
|
|
Current
Liabs |
|
|
10,677 |
8,364 |
|
|
Net
Worth |
|
|
8,070 |
7,422 |
6,798 |
|
Capital,
Paid-Up |
|
|
330 |
330 |
330 |
|
Div.P.Share(¥) |
|
|
8.00 |
8.00 |
8.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.86 |
-3.06 |
5.99 |
4.74 |
|
|
Current Ratio |
|
.. |
166.48 |
178.13 |
.. |
|
N.Worth Ratio |
.. |
42.12 |
45.72 |
43.52 |
|
|
R.Profit/Sales |
|
3.40 |
3.40 |
3.09 |
3.31 |
|
N.Profit/Sales |
1.89 |
1.88 |
1.67 |
1.81 |
|
|
Return On Equity |
.. |
8.82 |
8.81 |
9.80 |
|
Notes:
Forecast (or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
UK Pound |
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
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.