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Report Date : |
16.10.2013 |
IDENTIFICATION DETAILS
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Name : |
OGINO GYOGYO SEISAN KUMIAI |
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Registered Office : |
13-16 Honmarucho Takaoka |
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Country : |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
November 1955 |
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Com. Reg. No.: |
2300-05-005974 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Subject is an association of angling,
longline fishing |
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No. of Employees : |
11 |
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 |
|
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
OGINO GYOGYO SEISAN KUMIAI
REGD NAME: Ogino Gyogyo Seisan Kumiai
MAIN OFFICE: 13-16 Honmarucho Takaoka Toyama-Pref 933-0045
Tel: 0766-21-1160
URL: N/A
Association of angling, longline
fishing, other
Nil
MASAFUMI OGINO, CHAIRMAI
Yusaku Miyawaki, dir
Seiichi Ogino, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 420 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 12 M
TREND SLOW WORTH Yen 1,260 M
STARTED 1955 EMPLOYES 11
FISHING ASSOCIATION FOR ANGLING,
LONGLINE FISHING, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject is a fishing
association managed by Masafumi Ogino for angling, longline fishing,
other. Fishes are wholly shipped to
Mitsubishi Corp.
Financials are only partially
disclosed.
The sales volume for Sept/2012
fiscal term amounted to Yen 420 million, a 23% sharp down from Yen 546 million
in the previous term. Tuna fishing was
restricted due to species preservation and catches were decreased. The net profit was posted at Yen 40 million,
compared with Yen 55 million, a year ago.
For the term that ended Sept 2013
the net profit was projected at Yen 45 million, on a 4% rise in turnover, to
Yen 435 million. Final results are yet
to be released.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov 1955
Regd No.: 2300-05-005974 (Toyama-Takaoka)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
96,000 shares
Issued:
24,000 shares
Sum: Yen 12 million
Major shareholders (%):
Seiichi Ogino, Masafumi Ogino, Yusaku Miyawaki (Detailed breakdowns are not
available)
No. of shareholders: 3
Nothing detrimental is known as to
the commercial morality of executives.
Activities: Fishery
association for angling, longline fishing, other (--100%)
Clients: [Mfrs, wholesalers]
Wholly shipped to Mitsubishi Corp
No. of accounts: 1
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] OW Bunker, Toei Reefer Line, Maruyama Shoten, Takaoka Futazuka
Food Park, Japan Tuna, other
Payment record: No complaints
Location: Business
area in Takaoka, Toyama-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References: Hokuriku Bank (Takaoka)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
Annual
Sales |
|
435 |
420 |
546 |
605 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
45 |
40 |
55 |
57 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
1,260 |
1,232 |
1,194 |
|
Capital,
Paid-Up |
|
|
12 |
12 |
12 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.57 |
-23.08 |
-9.75 |
61.33 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
10.34 |
9.52 |
10.07 |
9.42 |
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Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
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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 |
|
<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.