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Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
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Name : |
NAKAMURA SCIENTIFIC INSTRUMENTS INDUSTY CO LTD |
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Registered Office : |
Nakamura Bldg, 18-10 Nihombashi-Kodenmacho Chuoku Tokyo 103-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
September 1949 |
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Com. Reg. No.: |
0100-01-052784 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of glass ware for scientific |
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No. of Employees : |
36 |
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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Maximum Credit Limit: |
Yen 253.7 Million |
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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
NAKAMURA SCIENTIFIC INSTRUMENTS INDUSTY CO LTD
REGD NAME: Nakamura
Kagaku Kikai Kogyo KK
MAIN OFFICE: Nakamura Bldg, 18-10
Nihombashi-Kodenmacho Chuoku Tokyo 103-0001 JAPAN
Tel:
03-3661-4662 Fax: 03-3661-0369
E-Mail address: (thru the URL)
Mfg of glass ware
for scientific us
Kumamoto, Tsukuba
China (2), Taiwan
(subcontracted)
SEIGO NAKAMURA,
PRES Haruhiko Nakamura, v pres
Mariko Nakamura,
dir Qian Wen Hong, dir
Toshiaki Seo, dir Kenji Ueda, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 13,344 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 50 M
TREND UP WORTH Yen 1,622 M
STARTED 1949 EMPLOYES 36
TRADING FIRM SPECIALIZING IN SCIENTIFIC GLASS WARE, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
253.7 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established by Masao Nakamura and Kazuo Nakamura as Nakamura Brothers Chemical
Instruments, when designated by Hitachi Motor as agent. In Jan 1959, designated as a distributor of
themistors, thermometers and thermo regulators by Takara Thermistor Instruments
Co Ltd. In Apr 1975 began mfr and sale
of fast steam distillation equipment for nitrogen determination under guidance
of the Environmental Research & Technology Center. It manufactures scientific glassware in China
& Taiwan (subcontracted). Goods are both imported & exported.
The sales volume for
Mar/2013 fiscal term amounted to Yen 13,344 million, a 27% up from Yen 10,480
million in the previous term. The net
profit was posted at Yen 115 million, compared with Yen 46 million a year ago
For the current term
ending Mar 2014 the net profit is projected at Yen 120 million, on a 5% rise in
turnover, to Yen 14,000 million.
Business is seen expanding steadily.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 253.7
million, on 30 days normal terms.
Date Registered: Sept 1949
Regd No.: 0100-01-052784 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 100,000 shares
Sum: Yen 50 million
Major
shareholders (%): Seigo Nakamura & families (--100)
No. of shareholders: 7
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Manufactures,
imports and exports scientific glass ware, laboratory supplies, chemical
materials, others (--100%)
Clients: [Mfrs, wholesalers]
Japan Chemical Analysis Center, JNC Corporation, JNC Petrochemical Corporation,
Oji Paper Co, JFE Shoji Trade Corp, Tokyo University of Marine Science &
Technology, Kisco Ltd, Chisso, Fuji Film Holdings, other.
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Advantec Toyo, Japan Scientific Instruments, Japan Air Tech, Maeda
Glass Co, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are one and maintained satisfactorily.
Bank References:
SMBC (Jinbocho)
Mizuho Bank
(Nihombashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
14,000 |
13,344 |
10,480 |
16,723 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
120 |
115 |
46 |
56 |
|
Total
Assets |
|
|
5,221 |
4,855 |
5,174 |
|
Current
Assets |
|
|
4,923 |
4,564 |
4,771 |
|
Current
Liabs |
|
|
2,545 |
2,117 |
1,710 |
|
Net
Worth |
|
|
1,622 |
1,556 |
1,560 |
|
Capital,
Paid-Up |
|
|
50 |
50 |
50 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.92 |
27.33 |
-37.33 |
-11.69 |
|
|
Current Ratio |
|
.. |
193.44 |
215.59 |
279.01 |
|
N.Worth Ratio |
.. |
31.07 |
32.05 |
30.15 |
|
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
0.86 |
0.86 |
0.44 |
0.33 |
|
|
Return On Equity |
.. |
7.09 |
2.96 |
3.59 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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.