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Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
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Name : |
SHIN NIPPON KOKI SERVICE CO LTD |
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Registered Office : |
2-500-1 Takao Minamiku Sakai Osaka-Pref 590-0157 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
June 1975 |
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Com. Reg. No.: |
1200-01-002890 (Osaka-Sakai) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of machine tools, industrial machinery |
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No. of Employees : |
220 |
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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Maximum Credit Limit : |
Yen 44.5 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – 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 |
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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 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 |
SHIN NIPPON KOKI SERVICE CO LTD
Shin Nippon Koki
Service KK
2-500-1 Takao
Minamiku Sakai Osaka-Pref 590-0157 JAPAN
Tel:
072-273-5091 Fax: 072-271-6570
E-Mail address: (thru the URL)
Mfg of
machine tools, industrial machinery, other
Osaka,
Saitama
Saitama,
Nagoya
HIDEKAZU
YAMAGUCHI, PRES
Hideo
Tamon, mgn dir Shuichi
Maekawa, dir
Masahiro
Tanaka, dir Noriki
Matsumura, dir
Kazuhiro
Ura, dir Fumio
Nakagawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 4,903 M
PAYMENTSNo
Complaints CAPITAL Yen
90 M
TREND SLOW WORTH Yen 692 M
STARTED 1975 EMPLOYES 220
MFR OF MACHINE TOOLS, OWNED BY SHIN NIPPON KOKI CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 44.5 MILLION, 30 DAYS NORMAL TERMS
The subject company was established on the basis of a trading division separated from Shin Nippon Koki Co Ltd, Osaka (See REGISTRATION). This is a trading firm, with mfg division, for import, export and wholesale of machine tools, industrial machinery, other, offering installation, maintenance, repairing services. Goods are also leased thru leasing firms.
The sales volume for Mar/2012 fiscal term amounted to Yen 4,903 million, a 9% down from Yen 5,360 million in the previous term. High Yen hurt import/export revenues in Yen terms. The recurring profit was posted at Yen 187 million and the net profit at Yen 187 million, respectively, compared with Yen 185 million net profit a year ago.
For the term that ended Mar 2013 the recurring profit was projected at Yen 200 million and the net profit at Yen 200 million, respectively, on a 6% rise in turnover, to Yen 5,200 million. Weaker Yen may have contributed to push sales in Yen terms. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 44.5 million, on 30 days normal terms.
Date Registered: Jun
1975
Regd No.: 1200-01-002890 (Osaka-Sakai)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
720,000 shares
Issued:
180,000 shares
Sum: Yen 90 million
Major shareholders (%): Shin Nippon Koki Co Ltd* (100)
*.. Mfr of machine tools, Osaka, founded 1949, capital Yen 1,000
million, sales Yen 32,427 million, net profit Yen 187 million, employees 184,
pres Hisakazu Yamaguchi, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures, imports, exports and wholesales machine tools, industrial machinery, others (100%); offering installation, maintenance, repairing services (50%)
(Mfg Items): PET bottle trimmer (distilled), can mfg machines, canning machines, other
Clients: [Mfrs, wholesalers] JA Mitsui Lease, Shin Nippon Koki Co, Daiwa Can Co, Takenaka Seisakusho, Tsubakimoto Kogyo, Osaka-Koki Co, Awai Steel Co, Top Die Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Shin Nippon Koki Co, Markey Co, Sojitz Machinery, other.
Imports from Germany, Italy, USA, other
Payment record: No Complaints
Location:
Business area in Sakai. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Osaka)
Kiyo
Bank (Ohtori)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
5,200 |
4,903 |
5,360 |
2,940 |
|
Recur.
Profit |
|
200 |
187 |
|
|
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Net
Profit |
|
200 |
187 |
185 |
41 |
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Total
Assets |
|
|
5,910 |
5,300 |
4,596 |
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Current
Assets |
|
|
4,769 |
4,010 |
3,368 |
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Current
Liabs |
|
|
2,643 |
3,080 |
2,576 |
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Net Worth |
|
|
692 |
520 |
673 |
|
Capital,
Paid-Up |
|
|
90 |
90 |
90 |
|
Div.Ttl
Million(¥) |
|
|
1.8 |
1.8 |
1.8 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.06 |
-8.53 |
82.31 |
-31.03 |
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|
Current Ratio |
|
.. |
180.44 |
130.19 |
130.75 |
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N.Worth Ratio |
.. |
11.71 |
9.81 |
14.64 |
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R.Profit/Sales |
|
3.85 |
3.81 |
.. |
.. |
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N.Profit/Sales |
3.85 |
3.81 |
3.45 |
1.39 |
|
|
Return On Equity |
.. |
27.02 |
35.58 |
6.09 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
UK Pound |
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
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 |
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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 |
|
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.