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Report Date : |
12.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHOWA BOEKI CO LTD |
|
|
|
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Registered Office : |
1-18-27 Edobori Nishiku Osaka 550-0002 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
January, 1952 |
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|
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Com. Reg. No.: |
1200-01-043932 (Osaka-Nishiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of packaging equipment & supplies; import of
vegetables & fruits |
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|
|
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No. of Employees : |
82 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has overturned his predecessor's plan to
permanently close nuclear power plants and is pursuing an economic revitalization
agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined
the Trans Pacific Partnership negotiations in 2013, a pact that would open
Japan's economy to increased foreign competition and create new export
opportunities for Japanese businesses. 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 is exceeding 230% of GDP. To
help raise government revenue and reduce public debt, Japan decided in 2013 to
gradually increase the consumption tax to a total of 10% by the year 2015.
Japan is making progress on ending deflation due to a weaker yen and higher
energy costs, but reliance on exports to drive growth and an aging, shrinking
population pose other major long-term challenges for the economy.
|
Source
: CIA |
SHOWA BOEKI CO LTD
REGD NAME: Showa Boeki KK
MAIN OFFICE: 1-18-27 Edobori Nishiku Osaka 550-0002 JAPAN
Tel:
06-6441-3333
Fax: 06-6444-2250
URL: http://www.showa-boeki.co.jp
E-Mail address: (thru the URL)
Mfg of packaging equipment & supplies; import of vegetables &
fruits
Tokyo, Nagoya, Fukuoka
(subcontracted)
AKIHIKO SUENO, PRES Akiyoshi
Sueno, ch
Taichi Sueno, mgn dir Shinzo
Sasaki, mgn dir
Hideki Hirano, dir Akihiro
Mihara, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 8,865 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 80 M
TREND SLOW WORTH Yen 950 M
STARTED 1952 EMPLOYES 82
TRADING FIRM SPECIALIZING IN PACKAGING EQUIPMENT, FOODS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1877 by Gonnosuke
Sueno, on his account, in order to make most of his experience in the subject
line of business. Incorporated in 1952
the firm has been succeeded by his descendants.
This is a trading firm, with mfg division, for import, export and
wholesale of packaging equipment & supplies, foods, beers, liquors,
other. Clients include agricultural
coops, makers, other
The sales volume for Sept/2013 fiscal term amounted to Yen 8,865
million, a slightly down from Yen 8,869 million in the previous term. Import revenues were down in Yen terms due to
the high Yen. .The recurring profit was posted at Yen 16 million and the net
profit at Yen 3 million, respectively, compared with Yen 155 million recurring
profit and Yen 87 million net profit, respectively, a year ago.
For the current term ending Sept 2014 the recurring profit is projected
at Yen 160 million and the net profit at Yen 95 million, respectively, on a 5% rise
in turnover, to Yen 9,300 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jan 1952
Regd No.: 1200-01-043932 (Osaka-Nishiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
640,000 shares
Issued:
160,000 shares
Sum: Yen 80 million
Major shareholders
(%): Akiyoshi Sueno and families (--100)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales: packaging equipment & supplies (47.4%), vegetables &
fruits (40.4%), healthcare products (4.5%), others (7.6%); Packaging equipment
is subcontracted mfg to local makers.
Clients: [Mfrs, wholesalers]
Nissui Inc, Daika Osaka Seika Co, Tokyo City Seika Co, Kyokuyo Co, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Komura Mfg Co, CI Chemical, Okamoto Co, Sumisho Pulp & Paper,
Inva Care, Royal Can, other
Payment record: Slow but correct
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC
(Osaka)
Mizuho Bank
(Dojima)
Relations:
Satisfactory
|
Terms Ending: |
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
|
Annual Sales |
|
9,300 |
8,865 |
8,869 |
9,424 |
|
Recur. Profit |
|
160 |
16 |
155 |
|
|
Net Profit |
|
95 |
3 |
87 |
147 |
|
Total Assets |
|
|
4,242 |
3,917 |
3,939 |
|
Current Assets |
|
|
2,520 |
2,099 |
|
|
Current Liabs |
|
|
1,764 |
1,811 |
|
|
Net Worth |
|
|
950 |
947 |
859 |
|
Capital, Paid-Up |
|
|
80 |
80 |
80 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.91 |
-0.05 |
-5.89 |
5.32 |
|
|
Current Ratio |
.. |
142.86 |
115.90 |
.. |
|
|
N.Worth Ratio |
.. |
22.40 |
24.18 |
21.81 |
|
|
R.Profit/Sales |
1.72 |
0.18 |
1.75 |
.. |
|
|
N.Profit/Sales |
1.02 |
0.03 |
0.98 |
1.56 |
|
|
Return On Equity |
.. |
0.32 |
9.19 |
17.11 |
|
Notes: Forecast (or estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NNA |
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.