|
Report Date : |
13.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
OHYAMA CO LTD |
|
|
|
|
Registered Office : |
2-12-1 Itsutsubashi Aobaku Sendai 980-0022
|
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
April 1986 |
|
|
|
|
Com. Reg. No.: |
3700-01-007432 (Sendai-Aobaku) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Importer, exporter, wholesaler of home-use products |
|
|
|
|
No. of Employees : |
22 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
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 |
OHYAMA CO LTD
KK Ohyama
2-12-1 Itsutsubashi
Aobaku Sendai 980-0022 JAPAN
Tel:
022-221-2109 Fax: 022-217-3787
URL: http://www.irisohyama.co.jp
(Of the parent)
E-Mail address: info@irisohyama.co.jp
Import, export, wholesale of home-use products
Nil
USA,
China, Korea, Europe, other (parent’s Branch Offices)
(subcontracted)
KENTARO
OHYAMA, PRES
Hideo
Ohyama, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 63,471 M
PAYMENTSREGULAR CAPITAL Yen
10 M
TREND STEADY WORTH Yen 19,039 M
STARTED 1986 EMPLOYES 22
TRADING FIRM SPECIALIZING IN HOME-USE PRODUCTS, OWNED BY IRIS OHYAMA INC.
FINANCIAL SITUATION CONSIDERED FAIR TO GOOD AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading division
separated from Iris Ohyama Inc, a wholesaler of home-use products, at the
caption address (See REGISTRATION). Kentaro Ohyama is concurrently pres of the
parent. This is a trading firm
specializing in import, export and wholesale of home-use products, such as
furniture, pet foods, tools, garden goods, DIY goods, bicycles, other (See OPERATION). Goods are supplied to the parent and its
group firms. Parent’s overseas branch
offices are fully utilized for import & export businesses.
The sales volume for Mar/2012 fiscal term amounted to Yen 63,471
million, a 34% up from Yen 47,366 million in the previous term. This is attributed ironically to the North
East Earthquake that struck the northern Japan on 11/03/2011, urging demand for
storage containers/shelves/boxes, emergency goods, preserved foods, other. Also eco-friendly products were newly
produced by the parent, including LED lamps & systems. The recurring profit was posted at Yen 3,980
million and the net profit at Yen 3,942 million, respectively, compared with
Yen 2,412 million recurring profit and Yen 2,762 million net profits,
respectively, a year ago.
For the term that ended Mar 2013 the recurring profit was projected at
Yen 4,000 million and the net profit at Yen 4,000 million, respectively, on a
3% rise in turnover, to Yen 65,300 million.
Final results are yet to be released.
Financial situation is considered FAIR to GOOD and responsible for
ORDINARY business engagements.
Date Registered: Apr
1986
Regd No.: 3700-01-007432 (Sendai-Aobaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10
million
Major shareholders (%):
Akihiro Ohyama (66), Yuko Ohyama (24), Toshiko Ohyama (10)
No. of shareholders: 3
* Iris Ohyama Inc, mfr of home-use products, at the caption address,
founded 1971, capital Yen 100 million, sales Yen 100,024 million, recurring
profit Yen 5,956 million, net profit Yen 1,657 million, total assets Yen
124,436 million, net worth Yen 56,184 million, employees 1,421, pres Kentaro
Ohyama, concurrently
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales home-use products (--100%)
(Handling items):
LED Lightings Div:
“Ecolux”
LED lamps, LED lightings, accessories;
Storage/Furniture
Div: TV racks, AV boards, KD furniture, hybrid chests, HG chests, free racks,
CB boxes, wood racks, metal racks, kids concept, cotton boxes, closet carriers,
wide stockers, other;
Pets Div: plastic dog
houses, wooden dog houses, cat lands, system circles, pet carriers, pet drive
boxes, air cleaners, cat toilets, pet sheets, cat litter, dry foods for dogs
& cats, jerky;
Tools/Cars/Office,
Household Goods Div: hard cases, buckle containers, RV boxes, Stanley
hand tools, disposable body warmers, sheets for prevention of contamination of
futon (beds), indoor dryers, extendable shelves, extendable bars for preventing
furniture from falling, escape buckets set, high-pressure washers, work gloves,
shredders, laminators, emergency goods, preserved foods, fast foods, health
foods;
Garden/Exterior
Goods Div: long/square planters, wood drum type pots, lattices, garden mail boxes,
system decks, tile decks, snow shovels, granular potting soil, gravel for
security & wood proof, fully covered hose reels, battery operated aerosol,
power-operated aerosol, power-operated eco mates, illumination lights, wooden
sheds, step plates, other.
Clients: [Mfrs,
wholesalers] Iris Ohyama, Dalian Iris Ohyama, Iris USA, other.
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Iris Ohyama Inc, Itochu Corp, Idemitsu Kosan, Japan Poly-Pro, Iris
Ohyama Dalian, Itochu Corp, other.
Payment record: Regular
Location: Business area in
Sendai, Miyagi-Pref. Office premises at
the caption address are owned by the parent and maintained satisfactorily.
Bank References:
Mizuho
Corporate Bank (Sendai)
Shoko
Chukin Bank (Sendai)
Relations:
Satisfactory.
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
65,300 |
63,471 |
47,366 |
45,314 |
|
Recur.
Profit |
|
4,000 |
3,980 |
2,412 |
2,583 |
|
Net
Profit |
|
4,000 |
3,942 |
2,762 |
3,243 |
|
Total
Assets |
|
|
33,212 |
30,580 |
32,110 |
|
Current
Assets |
|
|
20,753 |
18,128 |
14,624 |
|
Current
Liabs |
|
|
13,299 |
15,348 |
19,450 |
|
Net
Worth |
|
|
19,039 |
15,126 |
12,394 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.Ttl
in Million (¥) |
|
|
30 |
30 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.88 |
34.00 |
4.53 |
6.81 |
|
|
Current Ratio |
|
.. |
156.05 |
118.11 |
75.19 |
|
N.Worth Ratio |
.. |
57.33 |
49.46 |
38.60 |
|
|
R.Profit/Sales |
|
6.13 |
6.27 |
5.09 |
5.70 |
|
N.Profit/Sales |
6.13 |
6.21 |
5.83 |
7.16 |
|
|
Return On Equity |
.. |
20.70 |
18.26 |
26.17 |
|
Note: Forecast
(or estimated) for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.67 |
|
UK Pound |
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.84.72 |
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.