|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHOWA SHIKO CO LTD |
|
|
|
|
Registered Office : |
237-1, Wadako, Toyohama-cho, Kanonji-shi,
Kagawa-ken |
|
|
|
|
Country : |
Japan |
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|
|
|
Financials (as on) : |
31.10.2012 |
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|
|
|
Date of Incorporation : |
November 1988 |
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|
|
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Com. Reg. No.: |
4700-01-010388
(Kagawa-Kannonji) |
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|
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|
Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Manufacturer of wet wipes |
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|
|
|
No. of Employees : |
153 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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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 |
|
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 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 |
SHOWA SHIKO CO LTD
Showa Shiko KK
441 Wadahama
Toyohamacho Kannonji Kagawa-Pref 769-1602 JAPAN
Tel:
0875-52-5486 Fax: 0875-52-5486
*.. The is its Registered Address
URL: http://www.showa-shiko.co.jp
E-Mail address: show-p@deluze.ocn.ne.jp
Mfg of
wet wipes
Nil
At the caption address (2), Miurako
MASATAKA
MIYAKE, PRES Chikao Nishikawa, s/mgn
dir
Takafumi
Miyake, dir Shigenori
Morii, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,221 M
PAYMENTSUsually Correct CAPITAL Yen
10 M
TREND UP WORTH Yen 993 M
STARTED 1988 EMPLOYES 153
MFR SPECIALIZING IN WET WIPES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$900,000 / O/A 30 DAYS TERMS.
The subject company was established by Masataka Miyake in order to make most of his experience in the subject line of business. This is a specialized mfr of wet wipes, toilet cleaners, other cleaning agents. Goods are exported.
The sales volume for Oct/2012 fiscal term amounted to Yen 6,221 million, a 2% up from Yen 6,109 million in the previous term. Exports increased. The recurring profit was posted at Yen 238 million and the net profit at Yen 34 million, respectively, compared with Yen 308 million recurring profit and Yen 105 million net profit, respectively, a year ago.
For the current term ending Oct 2013 the recurring profit is projected at Yen 240 million and the net profit at Yen 35 million, respectively, on a 3% rise in turnover, to Yen 6,400 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov
1988
Regd No.: 4700-01-010388 (Kagawa-Kannonji)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
210 shares
Sum: Yen 10.5 million
Major shareholders (%):
Masataka Miyake (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures wet wipes, toilet cleaners, other cleaning agents (--100%)
Clients: [Mfrs, wholesalers] Daiichi Eizai Co, Kyowa Shiko Co, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Honda Yoko Co, Daiwabo Co, Hyogo Paper Mfg, Kawasaki Kako Co, other
Payment record: Usually Correct
Location: Business area in Kagawa. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Chugoku
Bank (Kawanoe)
Iyo
Bank (Kannonji)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/10/2013 |
31/10/2012 |
31/10/2011 |
31/10/2010 |
|
|
Annual
Sales |
|
6,400 |
6,221 |
6,109 |
5,526 |
|
Recur.
Profit |
|
240 |
238 |
308 |
|
|
Net
Profit |
|
35 |
34 |
105 |
162 |
|
Total
Assets |
|
|
4,546 |
3,960 |
3,635 |
|
Current
Assets |
|
|
2,716 |
2,198 |
|
|
Current
Liabs |
|
|
1,879 |
1,458 |
|
|
Net
Worth |
|
|
993 |
958 |
853 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.88 |
1.83 |
10.55 |
-7.90 |
|
|
Current Ratio |
|
.. |
144.54 |
150.75 |
.. |
|
N.Worth Ratio |
.. |
21.84 |
24.19 |
23.47 |
|
|
R.Profit/Sales |
|
3.75 |
3.83 |
5.04 |
.. |
|
N.Profit/Sales |
0.55 |
0.55 |
1.72 |
2.93 |
|
|
Return On Equity |
.. |
3.42 |
10.96 |
18.99 |
|
Notes:
Forecast (or estimated) figures for the 31/10/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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 |
|
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 |
|
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.