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Report Date : |
23.04.2014 |
IDENTIFICATION DETAILS
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Name : |
NISSIN TRADING CO LTD |
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Registered Office : |
DIC Bldg 10F, 2-16-2 Sotokanda Chiyodaku Tokyo 101-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
February 1950 |
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Com. Reg. No.: |
0100-01-053203 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Trading firm for import,
export and wholesale of chemicals, oils & fats, building materials,
packaging equipment, tobacco, others (--100%). |
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No. of Employees |
42 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 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 |
|
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 |
NISSIN TRADING CO LTD
REGD NAME: Nisshin
Boeki KK
MAIN OFFICE: DIC
Bldg 10F, 2-16-2 Sotokanda Chiyodaku Tokyo 101-0021 JAPAN
Tel:
03-3253-3461 Fax: 03-3253-3934
*..
Registered at: 3-7-20 Nihombashi Chuoku Tokyo
URL: http://www.nissinboeki.co.jp
E-Mail
address: info@nissinboeki.co.jp
Import,
export of chemicals, tobacco
Osaka
China
(2) (--subsidiaries)
SHOMEI
KARASAWA, PRES Taizo Ito, ch
Kimio
Matsuzawa, dir Shinichi
Nakaya, dir
Ryuichi
Masui, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 18,431 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen
3,047 M
STARTED 1950 EMPLOYES 42
TRADING FIRM SPECIALIZING IN CHEMICALS & TOBACCO.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established on the basis of a trading division separated from
Dainippon Ink & Chemicals Co (now DIC Corp), chemical mfr, Tokyo. This is a trading firm specializing in
importing & exporting industrial chemicals & tobacco. Sales to DIC Corp account for 32% and
purchase from DIC accounts for about 17% of total sales. Clients include chemical firms, mfrs, other.
The sales
volume for Mar/2013 fiscal term amounted to Yen 18,431 million, a 7% down from
Yen 19,735 million in the previous term.
The recurring profit was posted at Yen 298 million and the net profit at
Yen 221 million, compared with Yen 197 million recurring profit and Yen 119
million net profit, respectively, a year ago.
For the
term that ended Mar 2014 the recurring profit was projected at Yen 310 million
and the net profit at Yen 230 million, respectively, on a 5% rise in turnover,
to Yen 19,300 million. Final results are
yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Feb 1950
Regd No.: 0100-01-053203 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.6 million shares
Issued:
400,000 shares
Sum: Yen 20 million
Major shareholders (%): Nissei Fudosan Co Ltd* (100)
*.. Real estate owner, owned by
DIC Corporation
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Trading firm for import, export and
wholesale of chemicals, oils & fats, building materials, packaging
equipment, tobacco, others (--100%).
(Handling Items):
Chemicals: Solvents, monomers, organic chemicals,
synthetic resins (DIC products), modifiers, intermediates for dyestuff &
paints, inorganic chemicals, other;
Oils & Fats: vegetable oils & fats, animal oils
& fats, fatty acids;
Building Materials: exterior materials &
decorations, thermal insulation materials, housing equipment, other;
Tobacco: cigarettes, cigars, pipe tobacco,
other.
Clients: [Mfrs, wholesalers] DIC, Nippon Rietec
Co, Nippon Polyurethane Ind, Dainippon Paints, Tamura Corp, Toshiba Corp, Showa
Varnish Co, Nippon Soda Co, Yantai Huada Chemical, TS Network, Chem
International, Saiwai Trading, Yamaichi Chemical Ind, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] DIC, Nippon
Polyurethane Ind, Mitsubishi Shoji Chemical, DH Materials, Toa Gosei Co, Teijin
Chemicals Ltd, Suzhou Lintong Chemical, Sichuan Lomon, Dainichi Can Co, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Nihombashi)
Mizuho
Bank (Yaesuguchi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
19,300 |
18,431 |
19,735 |
19,592 |
|
Recur.
Profit |
|
310 |
298 |
197 |
241 |
|
Net
Profit |
|
230 |
221 |
119 |
172 |
|
Total
Assets |
|
|
12,842 |
12,291 |
12,830 |
|
Current
Assets |
|
|
4,826 |
5,205 |
4,934 |
|
Current
Liabs |
|
|
3,700 |
4,368 |
4,654 |
|
Net
Worth |
|
|
3,047 |
2,261 |
2,524 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.Ttl
in Million (¥) |
|
|
50 |
50 |
2,307 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.71 |
-6.61 |
0.73 |
10.12 |
|
|
Current Ratio |
.. |
130.43 |
119.16 |
106.02 |
|
|
N.Worth Ratio |
.. |
23.73 |
18.40 |
19.67 |
|
|
R.Profit/Sales |
1.61 |
1.62 |
1.00 |
1.23 |
|
|
N.Profit/Sales |
1.19 |
1.20 |
0.60 |
0.88 |
|
|
Return On Equity |
.. |
7.25 |
5.26 |
6.81 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.71 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.83.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
Report Prepared
by : |
PDT |
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 |
|
|
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 |
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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 |
-- |
|
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.