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Report Date : |
23.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ITOCHU PULP & PAPER CORPORATION |
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Registered Office : |
NOF Nihombashi-Honcho Bldg 8F, 2-7-1 Nihombashi-Honcho Chuoku 103-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
January 1972 |
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Com. Reg. No.: |
0100-01-037338 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale, import, export of printing paper, packaging
paper, paperboard, etc |
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No. of Employees : |
171 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
ITOCHU PULP & PAPER CORPORATION
Itochu Kami Pulp
KK
NOF Nihombashi-Honcho
Bldg 8F, 2-7-1 Nihombashi-Honcho Chuoku 103-0023 JAPAN
Tel:
03-3639-7111 Fax: 03-3639-9009
E-Mail address: info@itcpp.co.jp
Wholesale,
import, export of printing paper, packaging paper, paperboard, etc
Osaka,
Nagoya, Fukuoka, Sendai, Hiroshima
KEN’ICHI
OSHITANI, PRES Yukihiro Ozaki, mgn
dir
Ueichiro
Taku, dir Ichiro
Kurashige, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 74,364 M
PAYMENTSREGULAR CAPITAL Yen
500 M
TREND SLOW WORTH Yen 2,848 M
STARTED 1972 EMPLOYES 171
TRADING HOUSE SPECIALIZING IN PULP & PAPER, WHOLLY OWNED
BY ITOCHU CORP.
FINANCIAL SITUATION CONSIDERED FAIR TO GOOD AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a pulp
& paper sales division separated from Itochu Corp, major general trading
house of Japan, Tokyo (see REGISTRATION). This is a trading firm specializing in
import, export and wholesale of printing paper, pulp & packaging paper
materials, paperboard, other. 70% of the
total sales account for base paper materials.
30-40% of the goods are imported from Indonesia, China, USA, Korea,
Taiwan, Scandinavian countries, etc.
Stressing mfg & processing in China, with imports increasing. Major clients are newspaper companies,
printing houses, paper mills, publisher, convenience stores, other, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 74,364 million, a 2% down from Yen 75,582 million in the previous term. The recurring profit was posted at Yen 642 million and the net profit at Yen 246 million, respectively, compared with Yen 346 million recurring profit and Yen 121 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 650 million and the net profit at Yen 250 million, respectively, on a 3% rise in turnover, to Yen 76,500 million
The financial situation is considered FARI to GOOD and
responsible for ORDINARY business engagements.
Date Registered: Jan 1972
Regd No.: 0100-01-037338
(Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 4
million shares
Issued:
1 million shares
Sum: Yen 500 million
Major shareholders (%): Itochu Corp*(100)
*.. Japan’s leading trading house, Tokyo, founded 1949, listed Tokyo, Osaka, Nagoya, o Sapporo, Fukuoka S/E’s, capital Yen 202,241 million, turnover Yen 11,978,276 million, operating profit Yen 272,620 million, recurring profit Yen 341,174 million, net profit Yen 300,505 million, total assets Yen 6,433,599 million, net worth Yen 1,387,391 million, employees 79,245, pres Masahiro Okafuji
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales news print paper, printing paper, office-use paper supplies (--50%), paperboard (17%), pulp, packaging paper & materials, non-woven cloths, recycled waste paper, others (--33%).
(Import/export 22%)
(Handling products):
Printing & publishing paper: high & medium quality paper, coated paper, gravure paper, thin paper, processed base paper;
Packaging paper: Kraft paper, bleached Kraft paper, glazed paper, rolls, metal included paper, sterilized paper, processed base paper;
Paperboard base paper: exterior/interior lining materials, inner core material paper;
Packaging & paper goods: manila board, white board, chip board, milk carton board, paperboard cases, paper containers, paper cups, paper bags, other:
Plastics: plastic films, plastic bags, aluminum foils;
Information-related & office-use paper: business forms, thermal paper, PPC base paper, other.
Clients: [Printing Ind, paper mills, copy
machine mfrs, chain stores] Toppan Printing, Ricoh
Co, First Retailing, Ito-Yokado, Family Mart, Shueisha, Ricoh Ltd. DNP Trading,
Itochu Plastics, Coca-Cola National Beverages, other.
No. of
accounts: 800
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Daioh Paper, Itochu Corp, Oji Paper, Oji Paperboard,
Chuetsu Pulp & Paper, , other.
Imports from China, Indonesia, Taiwan, Korea, USA,
Scandinavia, etc.
Payment
record: Regular
Location: Business area in Tokyo. Office premises at the caption address are
owned by the parent and maintained satisfactorily.
Bank References:
Mizuho
Bank (Horidome)
SMBC
(Ningyocho)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
76,500 |
74,364 |
75,582 |
77,532 |
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Recur.
Profit |
|
650 |
642 |
346 |
526 |
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Net
Profit |
|
250 |
246 |
121 |
254 |
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Total
Assets |
|
|
31,750 |
27,816 |
29,855 |
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Current
Assets |
|
|
30,092 |
26,053 |
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Current
Liabs |
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|
28,691 |
24,456 |
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Net
Worth |
|
|
2,848 |
2,723 |
2,645 |
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Capital,
Paid-Up |
|
|
500 |
500 |
500 |
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Div.P.Share(¥) |
|
|
246.00 |
121.00 |
254.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.87 |
-1.61 |
-2.52 |
-12.30 |
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Current Ratio |
|
.. |
104.88 |
106.53 |
.. |
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N.Worth Ratio |
.. |
8.97 |
9.79 |
8.86 |
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R.Profit/Sales |
|
0.85 |
0.86 |
0.46 |
0.68 |
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N.Profit/Sales |
0.33 |
0.33 |
0.16 |
0.33 |
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Return On Equity |
.. |
8.64 |
4.44 |
9.60 |
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Notes:
Forecast (or estimated) figures for 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
UK Pound |
1 |
Rs.82.56 |
|
Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
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---- |
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.