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Report Date : |
23.11.2013 |
IDENTIFICATION DETAILS
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Name : |
SHIMA SHOJI CO LTD |
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Registered Office : |
3-13-16 Nakaishikiri-cho Higashi-Osaka
Osaka-Pref |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
March, 1981 |
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Com. Reg. No.: |
1220-01-003287 (Osaka-Higashiosaka) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of electrical working tools, LAN networking tools,
cutting, Tools |
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No. of Employees : |
17 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit: |
Yen 19.2 million |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but 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 – 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 |
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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 |
SHIMA
SHOJI CO LTD
REGD
NAME: Shima Shoji KK
MAIN
OFFICE: 3-13-16 Nakaishikiri-cho
Higashi-Osaka Osaka-Pref Japan
Tel: 075-988-3015 Fax: 072-988-3016
URL: N/A
Import, wholesale of electrical working
tools, LAN networking tools, cutting, Tools
Higashi-Osaka (2) (Warehouse & real
estate for leasing
KEISUKE SHIMA, PRES Keisuke Shima, ch
Tohru Ishikawa, s/mgn dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 787 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 34 M
TREND SLOW WORTH Yen 163 M
STARTED 1981 EMPLOYES 17
IMPORTER OF ELECTRIC WORKING TOOLS, CUTTING
TOOLS, OTHER
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 14.1 MILLION, 30 DAYS
NORMAL TERMS
The subject company was established on the
basis of a trading division separated from Jefcom Co Ltd, mfr of working tools,
electric working tools, at the caption address (See REGISTRATION). Goods are
imported from China, Taiwan, USA, Germany, other, and wholly shipped to the
parent, Jefcom Co.
Financials are only partially disclosed as
from the Mar/2010 fiscal term.
The sales volume for Mar/2013 fiscal term amounted
to Yen 787 million, a 2% down from Yen 799 million in the previous term. The operations plunged into the red to post
Yen 104 million net losses for the term.
This is due to extraordinary losses for payment of retirement fees to
retired executives. .
For the current term ending Mar 2014 the net
profit is projected at Yen 10 million, on a 3% rise in turnover, to Yen 810
million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 19.2 million, on 30 days normal
terms.
Date
Registered: Mar 1981
Regd
No.: 1220-01-003287
(Osaka-Higashiosaka)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 272,000 shares
Issued: 68,000 shares
Sum:
Yen 34 million
Major
shareholders (%): Kensuke Shima (66), Keisuke Shima (17), Setsumi Shima (17)
No.
of shareholders: 3
* Jefcom Co Ltd, owned & operated by the
Shima family, at the caption address, founded 1966, capital Yen 98 million,
shareholders are these three (Shima family), sales Yen 3,500 million, net
profit Yen 30 million, employees 110, pres Keisuke Shima, concurrently
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports and
wholesales electric working tools, cutting tools, air-conditioner racks, tools
for LAN communications, lighting apparatus, lifters, electric wire connectors,
duct cutters, other (--90%); real estate leasing, others (10%).
Clients: [Mfr] Shipped
wholly to the parent, Jefcom Co Ltd
No. of accounts: 1
Domestic areas of activities: Centered in
greater-Osaka
Suppliers: [Mfrs,
wholesalers] Imports from China, Taiwan, USA, Germany, other
Payment
record: Slow but Correct
Location: Business area in
Higashi-Osaka City. Office premises at
the caption address are owned by the parent and maintained satisfactorily.
Bank
References:
MUFG (Hiraoka)
Shoko Chukin Bank (Semba)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual
Sales |
|
810 |
787 |
799 |
651 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
10 |
-104 |
14 |
10 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
163 |
267 |
258 |
|
Capital,
Paid-Up |
|
|
34 |
34 |
34 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth
Rate |
2.92 |
-1.50 |
22.73 |
18.15 |
|
|
Current
Ratio |
|
|
.. |
.. |
.. |
|
N.Worth
Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.23 |
-13.21 |
1.75 |
1.54 |
|
Notes: Financial are only partially
disclosed as from the 31/03/2010 fiscal term.
Forecast (or estimated) figures for the
31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.02 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.84.92 |
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.