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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SHINSEI CORPORATION |
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Registered Office : |
Kyowa No.15 Bldg 4F, 2-5-8 Nishi-Kanda Chiyodaku |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
February, 1973 |
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Com. Reg. No.: |
0100-01-146208 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export o IT digital products, electronics products, textiles |
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No. of Employees : |
25 |
RATING & COMMENTS
|
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 : |
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 |
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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 |
SHINSEI
CORPORATION
KK Shinsei Corporation
Kyowa No.15 Bldg 4F, 2-5-8 Nishi-Kanda Chiyodaku Tokyo 101-0065 JAPAN
Tel: 03-5212-1253
URL: http://www.shinseicorp.com
E-Mail address: hadoffice@shinseicorp.com
Import, export o IT digital products, electronics products, textiles
Himeji
China (2), Hong Kong, Korea, India, Vietnam
TOSHIRO OHIGASHI, PRS
Shozo Shibata, v pres
Lim Bumsik, v pres
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 2,705 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 88 M
TREND SLOW WORTH Yen 364 M
STARTED 1973 EMPLOYES 25
TRADING FIRM SPECIALIZING IN DIGITAL IT PRODUCTS, ELECTRONICS PRODUCTS,
OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
This is a trading firm specializing in import, export and wholesale of
IT digital products, electronics components, textiles & sundries (See
OPERATION). Goods are widely exported to
China, Hong Kong, Korea, India, Vietnam, other.
Domestic clients include electronics makers, wholesalers, other.
The sales volume for Dec/2012 fiscal term amounted to Yen 2,705 million,
a 34% down from Yen 4,104 million in the previous term. The sale (including exports) of mobile WIMAX
data communication terminals were extremely poor and sluggish. The recurring profit was posted at Yen 17
million and the net profit at Yen 15 million, respectively, compared with Yen
114 million recurring profit and Yen 66 million net profit, respectively, a
year ago.
For the current term ending Dc 2013 the recurring profit is projected at
Yen 20 million and the net profit at Yen 20 million, respectively, on an 11%
rise in turnover, to Yen 3,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Feb
1973
Regd No.: 0100-01-146208
(Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 708,000 shares
Issued:
177,000 shares
Sum: Yen
88.5 million
Major shareholders
(%): Toshiro Ohigashi (61),
Company’s Treasury Stock (9)
No. of
shareholders: 7
Nothing detrimental is
known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales digital IT products, electronics components, textiles &
sundries, others (--100%)
(Handling Items):
Digital IT
Products: Mobile WIMAX Data Communication Terminal, One-segment Mobile
Broadcasting Tuner, Micro Projector, IRIs Identification System;
Electronics
Components: Motor, PCB, CCFL electrode, IC, transformer, electronic parts, module,
injection molds & molded parts, precision mold, outward plastic mold,
pressing mold, and second processing, other;
Textile &
Sundries: T-shirts, socks, socks, underwears, other textile products
Clients: [Mfrs,
wholesalers] Panasonic System Networks, UQ Communications, Bic Camera, KDD,
Sanyo Electric, Toshiba Corp, Funai Electric, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sanyo Electric, Panasonic Corp, JVC Kenwood, Hitachi Chemical Ind,
Funai Electric, Toshiba Corp, Modacom, other
Imports from India, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Himeji-Chuo)
Hyogo Shinkin Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual Sales |
|
3,000 |
2,705 |
4,104 |
2,958 |
|
Recur. Profit |
|
20 |
17 |
114 |
62 |
|
Net Profit |
|
20 |
15 |
66 |
34 |
|
Total Assets |
|
|
1,151 |
1,466 |
1,467 |
|
Current Assets |
|
|
853 |
1,196 |
1,234 |
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Current Liabs |
|
|
622 |
1,071 |
1,048 |
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Net Worth |
|
|
364 |
348 |
281 |
|
Capital, Paid-Up |
|
|
88 |
88 |
88 |
|
Div.P.Share(¥) |
|
|
9.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
10.91 |
-34.09 |
38.74 |
49.32 |
|
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Current Ratio |
|
.. |
137.14 |
111.67 |
117.75 |
|
N.Worth Ratio |
.. |
31.62 |
23.74 |
19.15 |
|
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R.Profit/Sales |
|
0.67 |
0.63 |
2.78 |
2.10 |
|
N.Profit/Sales |
0.67 |
0.55 |
1.61 |
1.15 |
|
|
Return On Equity |
.. |
4.12 |
18.97 |
12.10 |
|
Notes: Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.59 |
|
|
1 |
Rs.92.92 |
|
Euro |
1 |
Rs.78.94 |
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 |
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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 |
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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.