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Report Date : |
09.03.2013 |
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 |
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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 |
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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 (31.03.2012) |
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
Nissho Iwai Kami
Pulp KK
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 60,552 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
|
UK Pound |
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.24 |
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 |
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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 |
|
<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.