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Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SHOWA RUBBER CHEMICAL INDUSTRY INC |
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Registered Office : |
2-5-9 Kanamachi Katsushikaku Tokyo 125-0042 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May 1943 |
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Com. Reg. No.: |
0110-01-001962 (Tokyo-Katsushikaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of industrial rubber products |
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No. of Employees : |
93 |
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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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 |
|
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 |
SHOWA RUBBER
CHEMICAL INDUSTRY INC
KK Showa Gomu Kagaku Kogyosho
2-5-9 Kanamachi Katsushikaku Tokyo 125-0042 JAPAN
Tel: 03-3826-7881 Fax:
03-3826-7885
*.. The is
its Ibaraki Factory
URL: Error!
Hyperlink reference not valid.
E-Mail address: webmaster@showa-rubber.com
Mfg of industrial rubber products
Ibaraki
Philippines
Ibaraki; Philippines
MITSUO TASAKI, PRES Takashi
Oshimi, ch
Yoshiaki Oshimi, did Koji
Oshimi, dir
Takehiko Yamada, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 3,872 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 972 M
STARTED 1943 EMPLOYES 93
MFR OF INDUSTRIAL RUBBER PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1937 and was
incorporated in 1943 by Takashi Oshimi,
now ch at the firm. The firm specialized
in mfg industrial-use rubber parts & products (See OPERATION). Operates a
factory in the Philippines. Clients
include rubber industries, machinery makers, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 3,872 million,
a 5% up from Yen 1,689 million in the previous term. Sales of products for automakers rose on the
back of robust industrial activities.
The recurring profit was posted at Yen 63 million and the net profit at
Yen 20 million, respectively, compared with Yen 55 million recurring profit and
Yen 31 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 65 million and the net profit at Yen 30 million, respectively, on a 6%
rise in turnover, to Yen 4,100 million.
Business is seen expanding steadily on the back of brisk industrial
activities.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date
Registered: May 1943
Regd
No.: 0110-01-001962 (Tokyo-Katsushikaku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 4
million shares
Issued:
2 million shares
Sum:
Yen 100 million
Major
shareholders (%): Fumiko Oshimi (11), Yaeko Oshimi (9), Bridgestone Corp (5), other
No.
of shareholders: 33
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Manufactures
rubber products and parts for various industries (--100%)
(Mfg
Items):
For
automobiles: bellows products, rubber bush, anti-vibration rubber, socket cover,
grommet;
For
industries: flexible joints, joint for hume concrete pipes;
For
constructions: rubber pad for heavy equipment, construction, glawler belt, seismic
isolation & vibration control for bridges;
For
beverages: tank for beer, products for vending machines;
For
ships: hatch sponge, section corner/end.
Clients: [Mfrs,
wholesalers] Adeka, NOK, Bridgestone Elastic, Bridgestone Corp, Yokohama Rubber
Ind, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui Bussan Plastic Trade, Marubeni Techno Rubber, Showa Polymer
Process Corp, other
Payment
record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Katsushika)
SMBC (Shinkoiwa)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
4,100 |
3,872 |
3,689 |
3,260 |
|
Recur. Profit |
|
65 |
63 |
55 |
54 |
|
Net Profit |
|
30 |
20 |
31 |
48 |
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Total Assets |
|
|
2,216 |
2,243 |
2,163 |
|
Current Assets |
|
|
1,480 |
1,480 |
1,376 |
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Current Liabs |
|
|
1,149 |
1,162 |
1,070 |
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Net Worth |
|
|
972 |
956 |
930 |
|
Capital, Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.89 |
4.96 |
13.16 |
25.10 |
|
|
Current Ratio |
|
.. |
128.81 |
127.37 |
128.60 |
|
N.Worth Ratio |
.. |
43.86 |
42.62 |
43.00 |
|
|
R.Profit/Sales |
|
1.59 |
1.63 |
1.49 |
1.66 |
|
N.Profit/Sales |
0.73 |
0.52 |
0.84 |
1.47 |
|
|
Return On Equity |
.. |
2.06 |
3.24 |
5.16 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
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 |
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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 |
|
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.