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Report Date : |
22.04.2014 |
IDENTIFICATION DETAILS
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Name : |
DIXIE JAPAN LTD |
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Registered Office : |
JP Tower 8F, 2-7-2 Marunouchi Chiyodaku Tokyo 100-7008 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
August, 1964 |
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Com. Reg. No.: |
0104-01-022947 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of paper cups, plastic cups, noodle cups, other food
cups |
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No. of Employees : |
332 |
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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Maximum Credit Limit : |
Yen 84.9 million |
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Status : |
Moderate |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 |
DIXIE JAPAN LTD
REGD NAME: KK Nihon Dixie
MAIN OFFICE: JP Tower 8F, 2-7-2 Marunouchi Chiyodaku Tokyo
100-7008 JAPAN
Tel: 03-3201-8721
Fax: 03-3201-8751
*.. Moved
to the caption address in May 2013 from the one as given
URL: http://www.dixie.co.jp
E-Mail address: (thru the URL)
Mfg of paper cups, plastic cups, noodle cups, other food cups
Sapporo, Nagoya, Osaka, Hiroshima, Fukuoka
Tochigi, Shiga
OFFICERS:
OSAMU WATANABE, PRES Noboru
Onozawa, mgn dir
Hirohisa Yamaguchi, dir Yozo
Igarashi, dir
Akio Wakasugi, dir Mikio
Torikiri, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 16,200 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
1,059 M
TREND UP WORTH Yen 2,364 M
STARTED 1964 EMPLOYES 332
MFR OF PAPER/PLASTIC CUPS & CONTAINERS FOR FOODSTUFFS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 84.9 MILLION, ON 30 DAYS NORMAL TERMS
The subject company was established on the basis of a food cup mfg
division separated from Daiwa Can Co Ltd (See REGISTRATION) in order to make paper/plastic cans for food &
beverages. The firm specialized in mfg
paper & plastic cups & containers for food and beverages, other. Clients include supermarkets, home centers,
convenience stores, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 16,200 million,
an almost similar amount of Yen 16,158 million in the previous term. The recurring profit was posted at Yen 256
million and the net profit at Yen 34 million, respectively, compared with Yen
234 million recurring profit and Yen 37 million net profit, respectively, a
year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 270 million and the net profit at Yen 45 million, respectively, on an 11%
rise in turnover, to Yen 18,000 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 84.9 million, on the normal 30 days terms.
Date Registered: Aug 1964
Regd No.: 0104-01-022947 (Tokyo-Chiyodaku)
Legal Status:
^Limited Company (Kabushiki Kaisha)
Authorized:
8.4 million shares
Issued:
2.11 million shares
Sum: Yen 1,059 million
Major shareholders
(%): Daiwa Can Co Ltd* (56), Nippon Paper Ind (44)
No. of shareholders: 2
*.. Mfr of cans & containers for food & beverages, Tokyo,
founded 1939, capital Yen 2,400 million, sales Yen 175,995 million, net profit
Yen 128 million, employees 1,500, pres Hisakazu Yamaguchi
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
paper & plastic cups, containers for food & beverages (--100%)
Clients: [Mfrs,
wholesalers] McDonald’s Japan, Coca-Cola Bottlers, Sonton Food Ind, other to
convenience stores, super markets, home centers, nationwide
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nippon Paper Ind, Daiwa Can Co, DPP Inc, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Tokyo-Chuo)
MUFG
(Ningyocho)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
18,000 |
16,200 |
16,158 |
16,034 |
|
Recur. Profit |
|
270 |
256 |
234 |
533 |
|
Net Profit |
|
45 |
34 |
37 |
5 |
|
Total Assets |
|
|
32,547 |
31,603 |
29,287 |
|
Current Assets |
|
|
6,052 |
6,330 |
|
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Current Liabs |
|
|
13,359 |
12,553 |
|
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Net Worth |
|
|
2,364 |
2,307 |
2,255 |
|
Capital, Paid-Up |
|
|
1,059 |
1,059 |
1,059 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
11.11 |
0.26 |
0.77 |
-1.73 |
|
|
Current Ratio |
.. |
45.30 |
50.43 |
.. |
|
|
N.Worth Ratio |
.. |
7.26 |
7.30 |
7.70 |
|
|
R.Profit/Sales |
1.50 |
1.58 |
1.45 |
3.32 |
|
|
N.Profit/Sales |
0.25 |
0.21 |
0.23 |
0.03 |
|
|
Return On Equity |
.. |
1.44 |
1.60 |
0.22 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.101.41 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
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.