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Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
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Name : |
HIROTOMO CORPORATION |
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Registered Office : |
252-5 Tsukiyama Yamato-Takada Nara-Pref |
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Country : |
Japan |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
May 1996 |
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Com. Reg. No.: |
1500-02-009308
(Nara-Yamato-Takada) |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Exporter of iron/steel products including seamless pipes, welded pipes. |
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No. of Employees : |
03 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
|
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 |
HIROTOMO CORPORATION
YK Hirotomo Corporation
Towa City Corp
Semba #701, 1-7-7 Kitakyuhojimachi Chuoku Osaka 541-0057 JAPAN
Tel:
06-6268-8791 Fax: 06-6268-6965
*.. Registered at: 252-5 Tsukiyama Yamato-Takada Nara-Pref
URL: N/A
Export
of steel products
Nil
HIROTOU
HAYASHI, PRES
Junko
Hayashi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 400 M
PAYMENTSSlow but Correct CAPITAL Yen 3 M
TREND SLOW WORTH Yen 119 M
STARTED 1996 EMPLOYES 3
TRADING
FIRM FOR EXPORTING STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED RATHER
WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Hirotou Hayashi in order to make most of his experience in the subject line of business. This is a family-based trading firm, wholly owned and operated by the Hayashi family, specializing in exporting iron/steel products. Goods are exported centrally to S/E Asia: China, Hong Kong, Taiwan India, other Asian countries.
Financials are only partially disclosed as is the case with family-based companies.
The sales volume for May/2012 fiscal term amounted to Yen 400 million, an 11% down from Yen 450 million in the previous term. High Yen hurt export revenues, reducing earnings in Yen terms. The net profit was posted at Yen 8 million, compared with Yen 10 million a year ago. .
For the term that ended May 2013 the net profit was projected at Yen 10 million, on a 5% rise in turnover, to Yen 420 million. Final results are yet to be released.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.
Date Registered: May 1996
Regd No.: 1500-02-009308 (Nara-Yamato-Takada)
Legal Status: Private Limited Company (Yugen Kaisha)
Authorized: 240 shares
Issued: 60 shares
Sum: Yen 3
million
Major shareholders (%):
Hirotou Hayashi (100)
Nothing
detrimental is known as to his commercial morality.
Activities: Exports iron/steel products: seamless pipes, welded pipes, other (--100%).
Clients: [Mfrs, wholesalers] Exports to: China, India, Hong Kong, Taiwan, other S/E Asian countries
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Osaka
Suppliers: Supplied from domestic steel mfrs, wholesaler, other for exports
Payment record: Slow but Correct
Location: Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (Itachibori)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
|
Annual
Sales |
|
420 |
400 |
450 |
450 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
10 |
8 |
10 |
15 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
119 |
111 |
101 |
|
Capital,
Paid-Up |
|
|
3 |
3 |
3 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.00 |
-11.11 |
0.00 |
-0.66 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
2.38 |
2.00 |
2.22 |
3.33 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.57 |
|
UK Pound |
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
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 |
|
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.