|
Report Date : |
02.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHIBATA NEEDLE MFG CO LTD |
|
|
|
|
Registered Office : |
137 Minami-Mitsubo Katsuragi City
Nara-Pref 639-2143 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
August 1952 |
|
|
|
|
Com. Reg. No.: |
1500-01-012869 (Nara-Katsuragi) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of needles for circular knitting machines |
|
|
|
|
No. of Employees |
54 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 2013 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 225% 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 |
SHIBATA NEEDLE MFG CO LTD
Shibata Seishin KK
137 Minami-Mitsubo
Katsuragi City Nara-Pref 639-2143 JAPAN
Tel:
0745-69-2281 Fax: 0745-69-5400
URL: http://www.shibata.nu/
E-Mail address: (thru the URL)
Manufacturer of needles for circular knitting machines
Nil
At the
caption address
KENJI
SHIBATA, PRES Osamu Shibata, ch
Tsukasa
Shibata, s/mgn dir Kazuo Shibata,
dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 212 M
PAYMENTSslow CAPITAL Yen 40 M
TREND SLOW WORTH Yen 89 M
STARTED 1952 EMPLOYES 54
MFR OF NEEDLES FOR KNITTING MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Osamu Shibata, now ch, in order
to make most of his experience in the subject line of business. This is a specialized mfr of needles for
circular knitting machines. Goods are
widely exported to Asia, Africa, USA, Europe, other. Domestic clients include needle machine
makes, apparel makers, other
Financials are only partially disclosed.
The sales volume for Mar/2013 fiscal term amounted to Yen 212 million, a
6% down from Yen 226 million in the previous term. High Yen hurt exports in the first half,
reducing earnings and profits in Yen terms.
The operations plunged into the red to post Yen 13 million net losses
for the term, compared with Yen 1 million net profit a year ago.
For the current term ending Mar 2014 the net profit is projected at Yen
5 million, on an 8% rise in turnover, to Yen 230 million. Weaker Yen may contribute to raise earnings
in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Aug
1952
Regd No.: 1500-01-012869 (Nara-Katsuragi)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
320,000 shares
Issued:
80,000 shares
Sum: Yen 40 million
Major shareholders (%): Shizuko Shibata (10), Kazuo
Shibata (10), Saburo Shibata (7), Osamu Shibata (7), Tsukasa Shibata (5)
No. of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufacturer of
needles for circular knitting machines (100%)
Goods are exported to: Thailand, Korea, Taiwan, China, Indonesia,
Malaysia, Vietnam, USA, Spain, UK, South Africa, other
Clients: [Mfrs, wholesalers]
Gunze Ltd, Tsun Hing Textile Engineering, CV Lestari & Co, Bateks Triko
Textile, SBT Thailand, Kern-Liebers Knitting, Tachibana Orimono (Textiles),
Katakura Industries, Atago Co, GSI Creos Corp, Kuraray Co, Omikenshi Co, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Tajima Steel, MRT, Idemitsu Fine Oil, Tokushu Kinzoku Excel,
Hitachi Metal, other
Payment record: Slow
Location: Business area in
Katsuragi City, Nara-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
Nanto Bank (Shinjo)
Shoko Chukin Bank (Nara)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual
Sales |
|
230 |
212 |
226 |
270 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
5 |
-13 |
1 |
3 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
89 |
102 |
101 |
|
Capital,
Paid-Up |
|
|
40 |
40 |
40 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
8.49 |
-6.19 |
-16.30 |
-10.00 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
2.17 |
-6.13 |
0.44 |
1.11 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
|
UK Pound |
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.