MIRA INFORM REPORT
|
Report Date : |
13.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
HANSHIN SHAVING CO LTD |
|
|
|
|
Registered Office : |
10-6 Minami-Sakaemachi Takasago City Hyogo-Pref 676-0006 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
April, 1948 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Mfg of fishing wet suits, marine boots, match mfg machines, other |
|
|
|
|
No. of Employees : |
20 |
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 : |
No Complaints |
|
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 |
|
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 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 |
HANSHIN SHAVING CO
LTD
Hanshin Kiji KK
10-6 Minami-Sakaemachi Takasago City Hyogo-Pref 676-0006 JAPAN
Tel: 06-443-0013 Fax:
079-443-1005
URL: http://www.hanshinjkiji.co.jp
E-Mail address: (thru the URL)
Mfg of fishing wet suits, marine boots, match mfg machines, other
Okayama
China
Himeji
KOHEI ZAKOU, PRES
Yo Shigemura, dir
Reiko Zakou, dir
Yen Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 859 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 256 M
STARTED 1948 EMPLOYES 20
MFR OF FISHING WEAR, MATCH MAKING MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Heijiro Zakou for making match
mfg machines. Kohei is his descendant
who took the pres office in 1992. This
is a specialized mfr of fishing suits, wet suits, marine boots, match making
machines, other. Goods are both imported
and exported.
The sales volume for Dec/2011 fiscal term amounted to Yen 859 million, a
9% up from Yen 788 million in the previous term. The recurring profit was posted at Yen 85
million and the net profit at Yen 48 million, respectively, compared with Yen
41 million recurring profit and Yen 25 million net profit, respectively, a year
ago.
For the term that ended Dec 2013 the recurring profit was projected at
Yen 86 million and the net profit at Yen 50 million, respectively, on a 3% rise
in turnover, to Yen 885 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Apr
1948
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 80,000 shares
Issued:
20,000 shares
Sum: Yen
10 million
Major shareholders
(%): Kohei Zakou (65)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
fishing suits, wet shoes, marine boots, chemical shoes, rubber boots, match
making machines, other (--100%)
Goods are both imported and exported.
Clients: [Mfrs,
wholesalers] Gamakatsu Co, Anglers Group (Ofuji Tsurigu), Fujimoto Jubei
Shoten, Matsuura Tegusu Co, other.
Exports to: Africa, S/E Asia, Mid/South Americas, other (about 50
clients)
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from China (90.5%), Terauchi Iron Works, KK Sugimoto,
Nikka Corp, other
Imports from Chine, Taiwan, Korea, other
Payment record: No Complaints
Location: Business area in
Takasago, Hyogo-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
Resona Bank (Himeji)
Minato Bank (Kakogawa)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
Annual Sales |
|
885 |
859 |
788 |
777 |
|
Recur. Profit |
|
86 |
85 |
41 |
|
|
Net Profit |
|
50 |
48 |
25 |
23 |
|
Total Assets |
|
|
771 |
713 |
708 |
|
Current Assets |
|
|
674 |
811 |
|
|
Current Liabs |
|
|
331 |
311 |
|
|
Net Worth |
|
|
256 |
208 |
182 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.03 |
9.01 |
1.42 |
3.60 |
|
|
Current Ratio |
|
.. |
203.63 |
260.77 |
.. |
|
N.Worth Ratio |
.. |
33.20 |
29.17 |
25.71 |
|
|
R.Profit/Sales |
|
9.72 |
9.90 |
5.20 |
.. |
|
N.Profit/Sales |
5.65 |
5.59 |
3.17 |
2.96 |
|
|
Return On Equity |
.. |
18.75 |
12.02 |
12.64 |
|
Notes: Forecast (or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
|
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.11 |
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 |
|
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.