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Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
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Name : |
NST SEIKO CO LTD |
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Registered Office : |
Uni Semba Bldg 505, 2-1-10 Awajimachi
Chuoku Osaka 541-0047 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
July 2002 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of volts & nuts, nails, rivets |
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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 |
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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 |
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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 |
NST SEIKO CO LTD
Nihon ST Seiko KK
Uni Semba Bldg
505, 2-1-10 Awajimachi Chuoku Osaka 541-0047 JAPAN
Tel:
06-6209-0045 Fax: 06-6209-0046
URL: Nil
Mfg of
volts, nuts, rivet, nails, other
Nil
Takao
(Taiwan)
Takao
(Taiwan)
SHIN’ICHI
TAKADA, PRES
Atsushi
Takada, dir
Satoko
Takada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,060 M
PAYMENTS No
Complaints CAPITAL Yen 20
M
TREND SLOW WORTH Yen
231 M
STARTED 2002 EMPLOYES 11
MFR OF VOLTS & NUTS.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR CREDIT ENGAGEMENTS: US$200,000 / O/A 30 DAYS.
The subject company was established by Shin’ichi Takada in order to make most of his experience in the subject line of business. This firm specialized in mfg volts & nuts, rivets, pressed molding, other. Mfg is done by its Takao Factory in Taiwan and imported.
Financials are only partially disclosed.
The sales volume for Feb/2013 fiscal term amounted to Yen 1,060 million, an 8% down from Yen 1,150 million in the previous term. High Yen hurt sales in Yen terms, reducing its revenues in Yen term. The net profit was posted at Yen 27 million, compared with Yen 40 million a year ago.
For the current term ending Feb 2014 the net profit is projected at Yen 35 million, on a 9% hike in turnover, to Yen 1,150 million. Weak Yen may raise sales turnover in yen terms.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jul 2002
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,600 shares
Issued:
400 shares
Sum: Yen 20 million
Major shareholders (%): Shin’ichi Takada (45), Kazue Takada (27.5), Atsushi Takada (18.5), Satoko Takada (9)
No. of shareholders: 4
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures volts & nuts, nails, rivets, other (--100%)
Clients: [Mfrs, wholesalers] Mfrs (60%), home centers (10%), wholesalers (30%)
No. of accounts: 200
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] imports from Taiwan (90%), USA, other (4%), Japan (6%)
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Namba)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
|
28/02/2014 |
28/02/2013 |
29/02/2012 |
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Annual
Sales |
|
1,150 |
1,060 |
1,150 |
|
Recur.
Profit |
|
.. |
.. |
.. |
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Net
Profit |
|
35 |
27 |
40 |
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Total
Assets |
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|
N/A |
N/A |
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Net
Worth |
|
|
231 |
204 |
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Capital,
Paid-Up |
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|
20 |
20 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
8.49 |
-7.83 |
- - - |
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Current Ratio |
|
|
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
|
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N.Profit/Sales |
3.04 |
2.55 |
3.48 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
UK Pound |
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
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 |
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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 |
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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.