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Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SHIGA WOOD CO LTD |
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Registered Office : |
151 Ootatsumicho Nagahama Shiga-Pref 526-0834 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
June, 1997 |
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Com. Reg. No.: |
1600-01-006708 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of 2x4 housing panels, pallets, plywood, resin pallets; house
building works |
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No. of Employees : |
33 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
-- |
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 |
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Moderate |
B1 |
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High |
B2 |
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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 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 |
SHIGA WOOD CO LTD
KK Shiga Wood
151 Ootatsumicho Nagahama Shiga-Pref 526-0834 JAPAN
Tel: 0749-62-1517
Fax: 0749-63-8817
URL: http://www.shigawood.com/
E-Mail address: info@shigawood.com
Mfg of 2x4 housing panels, pallets, plywood, resin pallets; house
building works
Nil
At the caption address
FUMIO TAKAHASHI, PRES
Masaru Hashimoto, dir
Hideyuki Matsubara, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,823 M
PAYMENTS REGULAR CAPITAL Yen
36 M
TREND UP WORTH Yen 256 M
STARTED 1997 EMPLOYES 33
MFR SPECIALIZING IN 2X4 HOUSING PANELS & PALLETS, OTHER BUILDING
MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINRY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1971 by 4 local
building makers to form a cooperative named Shiga Builders’ Coop. In 1997, the building materials mfg division
was separated to be an independent entity named as captioned. This is a specialized mfr of 2x4 housing
panels, pallets, pre-cut timbers, plywood, and other housing materials. Ranked top three mfrs in
Kyoto/Shiga/Hokuriku/Tokai areas.
Material woods are imported.
Clients are local house builders, construction firms, other.
The sales volume for Jun/2012 fiscal term amounted to Yen 1,823 million,
a 6% up from Yen 1,712 million in the previous term. Extra demand created for housing/repairs,
other after the Great North Japan Earthquake in Mar/2011. The recurring profit was posted at Yen 28
million and the net profit at Yen 15 million, respectively, compared with Yen
17 million recurring profit and Yen 9 million net profit, respectively, a year
ago.
For the current term ending Jun 2013 the recurring profit is projected
at Yen 30 million and the net profit at Yen 20 million, respectively, on a 4% rise
in turnover, to Yen 1900 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun
1997
Regd No.: 1600-01-006708
(Shiga-Nagahama)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 2,800 shares
Issued:
721 shares
Sum: Yen
36.05 million
Major shareholders (%): Fumio Takahashi (28), Hiroshi Kumakawa
(28), Hideyuki Matsubara (28), Yoshizo Takahashi (14), Mitsuoki Kumakawa (2)
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures 2x4
hosing panels, pallets, pre-cut timber, packaging materials, plywood, resin
panels, steel pallets, other housing & building materials (--100%).
Executes housing/building works, too.
(Handling Items):
Housing panels: 2x4 housing
panels, 2x4 housing pre-cut units, 2x4 housing lumber, other;
Housing pallets: South-Sea wood
pallets, turpentine wood pallets, resin pallets, steel racks, steel supporters,
plywood, wooden boxes, other.
Clients: [House builders,
construction companies, wholesalers] Sumitomo Realty & Development, Produce
TMY Architect, MK Builder, Barrier Free Homes, Yokohama Reito, Dainichi Construction,
Nabrane, Ikoh Ryutsu Center, Nishino Pallet Kogyo, Seiwa Corporation, Panasonic
Logistics, Sojitz Building Materials, Hattori Sangyo Co, Token Corp, Papa Maman
House Inc, Top Partner, other.
No. of accounts: 500
Domestic areas of
activities: Centered in greater-Nagoya
Suppliers: [Mfrs,
wholesalers] Sumitomo Forestry, Ishii Shoten, Dainihon Wood-Preserving, Eguchi
Lumber, Orvis Corp, Yokouchi Ringyo, Marutama Ind, Dai Lumber, Gifu Plastic
Inc, Xyence Co, Kaneka KENTEC Co, Sojitz Building Materials, other.
Payment record: Regular
Location: Business area in
Nagahama City, Shiga-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Shiga Bank (Nagahama)
Shoko Chukin Bank (Hikone)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
|
Annual Sales |
|
1,900 |
1,823 |
1,712 |
1,490 |
|
Recur. Profit |
|
30 |
28 |
17 |
44 |
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Net Profit |
|
20 |
15 |
9 |
7 |
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Total Assets |
|
|
556 |
558 |
643 |
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Current Assets |
|
|
463 |
471 |
511 |
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Current Liabs |
|
|
228 |
202 |
214 |
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Net Worth |
|
|
256 |
241 |
233 |
|
Capital, Paid-Up |
|
|
36 |
36 |
36 |
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Div.P.Share(¥) |
|
|
25.00 |
25.00 |
25.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.22 |
6.48 |
14.90 |
-12.81 |
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Current Ratio |
|
.. |
203.07 |
233.17 |
238.79 |
|
N.Worth Ratio |
.. |
46.04 |
43.19 |
36.24 |
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R.Profit/Sales |
|
1.58 |
1.54 |
0.99 |
2.95 |
|
N.Profit/Sales |
1.05 |
0.82 |
0.53 |
0.47 |
|
|
Return On Equity |
.. |
5.86 |
3.73 |
3.00 |
|
Notes: Forecast (or estimated) figures for the 30/06/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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.