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Report Date : |
04.03.2013 |
IDENTIFICATION DETAILS
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Name : |
NISSHO IWAI PAPER & PULP CORP |
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Registered Office : |
Akasaka 1-Chome Center Bldg 11F, 1-11-30 Akasaka Minatoku Tokyo 107-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
July 1988 |
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Com. Reg. No.: |
(Tokyo-Minatoku) 094513 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of printing paper, pulp, packaging materials |
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No. of Employees : |
80 |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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
NISSHO IWAI PAPER & PULP CORP
REGD NAME: Nissho
Iwai Kami Pulp KK
MAIN OFFICE: Akasaka
1-Chome Center Bldg 11F, 1-11-30 Akasaka Minatoku Tokyo
107-0052 JAPAN
Tel:
03-6234-6350 Fax: 03-6234-6360
E-Mail address: info@nipap.co.jp
Import, export, wholesale
of printing paper, pulp, packaging materials
Osaka, Fukuoka
Germany,
Indonesia, Vietnam, Hong Kong, Taiwan, Korea, USA, Canada
Japan Paper Technology (Vietnam) (JV mfr)
JUTOKU ABE, PRES Katsuhisa Naya, ch
Yoshimi Miyano,
s/mgn dir Shin’ichi Matsuo, s/mgn dir
Takeshi Nakano,
mgn dir Tatsuo
Koiso, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 60,552 M
PAYMENTS REGULAR CAPITAL Yen
327 M
TREND STEADY WORTH Yen
2,635 M
STARTED 1988 EMPLOYES 80
TRADING HOUSE SPECIALIZING IN PAPER & PULP, AFFILIATED WITH
SOJITZ CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company
was established on the basis of a pulp & paper section separated from
Nissho Iwai Corp (now renamed Sojitz Corp after merger with Nichimen Corp), for
marketing paper products, originally named NI Package Co Ltd. In Apr 1992, renamed as captioned. In Apr 2000 took over pulp & paper
business from Kanematsu Corp, one of leading trading houses. This is a trading house specializing in
import, export and wholesale of paper & pulp, raw materials & products,
cardboard, corrugated boards, other (See OPERATION). Goods are imported from Canada, USA, Norway,
Indonesia, Vietnam (JV factory), other.
Also exports to China, Indonesia, etc.
The sales volume for Mar/2012 fiscal term
amounted to Yen 60,652 million, a 6% up from Yen 57,242 million in the previous
term. Demand for used & waste paper
increased from China and domestically.
Exports were brisk for industrial paper.
The recurring profit was posted at Yen 680 million and the net profit at
Yen 328 million, respectively, compared with Yen 682 million recurring profit
and Yen 357 million net profit, respectively, a year ago.
For the current
term ending Mar 2013 the recurring profit is projected at Yen 690 million and
net profit at Yen 340 million, respectively, on a 3% rise in turnover, to Yen
62,500 million. Brisk exports
continue.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered:
Jul 1988
Regd No.:
(Tokyo-Minatoku) 094513
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 23,800 shares
Issued: 6,556 shares
Sum: Yen 327.8 million
Major shareholders
(%): Sojitz Corp*(30.5), Rengo Co (12.2), Daio Paper (6.1),
Tokai Pulp (6.1), Kishu Paper (4.6)
No.
of shareholders: 14
* Sixth-ranked
general trading house, born by the merger of former Nissho Iwai Corp &
Nichimen Corp in 2003, listed Tokyo S/E, capital Yen 160,339 million, sales Yen
4,494,237 million, operating profit Yen 64,522 million, recurring profit Yen
62,228 million, net loss Yen 3,649 million, total assets Yen 2,006,513 million,
net worth Yen 290,207 million, employees 16,467, pres Yuji Sato
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales printing paper (29%), pulp (20%), paper boards (36%), raw paper
materials (including used/waste paper) (13%), others (2%). (Import 70%, export 30%)
(Handling
Items):
Waste
Paper: recovered paper, office paper, printed/unprinted paper;
Printing
Paper: newsprint, wood free paper, mechanical paper, ground wood paper, coated
paper, LWC & lightly coated paper, colored wood free paper, other printing
& communication paper;
Pulp: paper pulp, fluff
pulp, chemical pulp;
Industrial
Paper: Kraft paper, MG poster paper, paper carton, paper cup, paper bag &
paper tube, metal/glass interleaving paper & other industrial paper,
synthetic paper, cellophane, other packaging & wrapping paper;
Packaging
Paper: corrugated sheet & container, linerboard, corrugating medium,
boxboard, cupboard, other paperboards.
Clients: [Printing
houses, paper dealers] Rengo Co (4.9%), Kami Shoji Corp (4%), Livedo Corp
(3.2%), Gold Shoji Co (3.1%) Oji Paper, Oji Container, Japan Pulp & Paper,
Toppan Printing, Kodansha, Kyodo Printing, Lee & Man Paper, other.
Exports to China, Indonesia, other S/E Asian
countries.
No. of accounts:
2,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] International Paper (Canada), Oji Inter Pack, Oji Paper, Japan
Pulp & Paper, Daio Paper, Kishu Paper, Otsu Itagami Co, other.
Imports from Norske Skog (Canada), other
from USA, Norway, Indonesia, Vietnam, etc.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Norin Chukin Bank
(H/O)
MUFG (Tokyo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
62,500 |
60,552 |
57,242 |
47,898 |
|
Recur.
Profit |
|
690 |
680 |
682 |
524 |
|
Net
Profit |
|
340 |
328 |
357 |
229 |
|
Total
Assets |
|
|
21,668 |
21,599 |
18,891 |
|
Current
Assets |
|
|
19,952 |
19,970 |
17,285 |
|
Current
Liabs |
|
|
17,137 |
17,392 |
15,530 |
|
Net
Worth |
|
|
2,635 |
2,337 |
2,024 |
|
Capital,
Paid-Up |
|
|
327 |
327 |
327 |
|
Div.P.Share(¥) |
|
|
5.20 |
5.20 |
5.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.22 |
5.78 |
19.51 |
-11.34 |
|
|
Current Ratio |
|
.. |
116.43 |
114.82 |
111.30 |
|
N.Worth Ratio |
.. |
12.16 |
10.82 |
10.71 |
|
|
R.Profit/Sales |
|
1.10 |
1.12 |
1.19 |
1.09 |
|
N.Profit/Sales |
0.54 |
0.54 |
0.62 |
0.48 |
|
|
Return On Equity |
.. |
12.45 |
15.28 |
11.31 |
|
Notes: Forecast (or estimated) figures for the
31/03/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.71.27 |
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 |
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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 |
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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.