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Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
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Name : |
ALL NIPPON AIRWAYS TRADING CO LTD |
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Registered Office : |
Shiodome City Center, 1-5-2 Higashi-Shimbashi Minatoku Tokyo 105-7109 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
15.10.1970 |
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Com. Reg. No.: |
(Tokyo-Minatoku)
036985 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is a general trading house handling aircraft
parts, aircraft leasing, operation of in-flight shops, airport terminal
shops, machinery, semiconductor-related parts & components, pulp &
paper products, liquor, tobacco as well as
foodstuff |
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No. of Employees |
366 |
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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Maximum Credit Limit : |
Yen 1,375.8 Million |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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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 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.
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Source : CIA |
ALL NIPPON AIRWAYS TRADING CO LTD
Zen-Nikku Shoji KK
Shiodome City Center, 1-5-2 Higashi-Shimbashi Minatoku Tokyo 105-7109
JAPAN
Tel:
03-6735-5011 Fax: 03-6735-5039
E-Mail address: webmaster@anatc.com
Subject is a general trading house handling aircraft parts,
aircraft leasing, operation of in-flight shops, airport terminal shops, machinery,
semiconductor-related parts & components, pulp & paper products,
liquor, tobacco as well as foodstuff
Hokkaido (5), Tohoku (Northern Japan) (5), Tokyo & vicinities (7), Osaka & vicinities (7), Shikoku (3), Kyushu (8), other (--Tot: 37)
Paris,
Singapore, Shanghai, New York, Los Angeles (subsidiary), Seattle
34 stores nationwide, light snack restaurants/coffee shops
in 33 airport terminals; Six ANA
hotels nationwide
TOMIHIRO
HIDEMA, PRES oshiro
Kono, v pres
Jun
Hattori, s/mgn dir Hideto
Osada, s/mgn dir
Hirofumi
Maru, mgn dir Hajime Hino,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 70,625 M
PAYMENTSNo Complaints
CAPITAL Yen 1,000 M
TREND STEADY WORTH Yen 10,997 M
STARTED 1970 EMPLOYES 366
GENERAL TRADING HOUSE OWNED BY ANA AIRWAYS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 1,375.8 MILLION, 30 DAYS NORMAL TERMS
The subject company was established as a trading house by All Nippon Airways Co Ltd (known as ANA Airways), Japan’s second largest airline, Tokyo, now ANA Holdings Inc (See REGISTRATION), in order to procure aircraft parts & components for the parent. In Feb 1973 registered as a domestic travel agent. The firm has since grown into a general trading house handling aircraft parts, aircraft leasing, operation of in-flight shops, airport terminal shops, machinery, semiconductor-related parts & components, pulp & paper products, liquor, tobacco as well as foodstuff. Has offices and shops at major airports nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 70,625 million, a shade down from Yen 70,722 million in the previous term. The recurring profit was posted at Yen 2,215 million and the net profit at Yen 1,125 million, respectively, compared with Yen 1,560 million recurring profit and Yen 706 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 2,300 million and net profit at Yen 1,200 million, respectively, on a 5% rise in turnover, to Yen 74,000 million. Weaker Yen may help increase sales in Yen terms, including foreign visitors to Japan.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,375.8 million, on 30 days normal terms.
Date Registered: 15 Oct 1970
Regd No.: (Tokyo-Minatoku) 036985
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2.6 million shares
Issued:
654,000 shares
Sum: Yen 1,000 million
Major shareholders (%): ANA Holdings Inc* (100)
.. *.. Shares market of domestic flights with Japan Airline,
Tokyo, founded 1952, listed Tokyo S/E, capital Yen 318,789 million, sales Yen
1,483,581 million, operating profit Yen 103,827 million, recurring profit Yen
76,965 million, net profit Yen 43,140 million, total assets Yen 2,130,529
million, net worth Yen 767,513 million, employees 32,634, pres Shin’ichiro Ito
Nothing detrimental is known as to the commercial morality of executives.
Activities: A general trading house for import, export, wholesale of: aircraft parts & components (4%), store operations (20%), pulp & paper (15%), foodstuffs (17%), direct selling (13%), aircraft (including leasing) (10%), others (21%).
Clients: [Mfrs, wholesalers, airlines, consumers] Toshiba Corp, Oji Nepia, Itochu Corp, Iwase Esta Osaka, K’s Enterprise, Dainippon Printing, Toppan Printing, Toppan Forms, Nissha Printing, other.
No. of accounts: 500 (wholesale div only)
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Toshiba Corp, Oji Green Sources, Takashimaya, Shinsei Pulp & Paper, Japan Pulp & Paper, Toppan Forms, other.
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Shimbashi-Ekimae)
SMBC (Hibiya)
Relations: Satisfactory
(In Million Yen):
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Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual
Sales |
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74,000 |
70,625 |
70,722 |
76,422 |
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Recur.
Profit |
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2,300 |
2,215 |
1,560 |
1,255 |
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Net
Profit |
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1,200 |
1,125 |
706 |
309 |
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Total
Assets |
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43,687 |
40,980 |
39,671 |
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Current
Assets |
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36,661 |
32,793 |
31,123 |
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Current
Liabs |
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23,753 |
24,652 |
24,038 |
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Net
Worth |
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10,997 |
10,000 |
9,364 |
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Capital,
Paid-Up |
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|
1,000 |
1,000 |
1,000 |
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Div.P.Share(¥) |
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1,180.00 |
0.00 |
388.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.78 |
-0.14 |
-7.46 |
4.74 |
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Current Ratio |
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.. |
154.34 |
133.02 |
129.47 |
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N.Worth Ratio |
.. |
25.17 |
24.40 |
23.60 |
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R.Profit/Sales |
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3.11 |
3.14 |
2.21 |
1.64 |
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N.Profit/Sales |
1.62 |
1.59 |
1.00 |
0.40 |
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Return On Equity |
.. |
10.23 |
7.06 |
3.30 |
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Notes: Forecast (or estimated) figures for the
31/03/2014 Fiscal Term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.32 |
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UK Pound |
1 |
Rs.100.04 |
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Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
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Analysis Done by
: |
div |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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-- |
NB |
New Business |
-- |
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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.