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Report Date : |
09.12.2014 |
IDENTIFICATION DETAILS
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Name : |
USUI KOKUSAI SANGYO KAISHA, LTD. |
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Registered Office : |
131-2, Nagasawa, Shimizu-Cho, Sunto-Gun, |
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Country : |
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Date of Incorporation : |
20.01.1941 |
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Com. Reg. No.: |
0801-01-005362 |
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Legal Form : |
Private |
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Line of Business : |
Manufacturer of Plastic and Metal Products. |
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No. of Employees : |
668 |
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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Maximum Credit Limit : |
US$ 25 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
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 |
USUI KOKUSAI
SANGYO KAISHA, LTD.
Country: Japan
Company name: USUI KOKUSAI SANGYO KAISHA, LTD.
Name in local language: USUI
KOKUSAI SANGYO K.K.
Office address: 131-2, Nagasawa,
Shimizu-cho, Sunto-gun, Shizuoka pref. 411-0905
Office tel: 055-972-2111
Office fax: 055-973-3159
Website: www.usui.co.jp
Business type: Manufacturer Service
Industry: Plastic and
metal products
Established: January 20, 1941
Capital: Jp.
305,000,000 yen
Employees: 668
Corporate formation: Private
Corporation No.: 0801-01-005362
(Shizuoka Legal Affairs Bureau)
Paid in capital : Jp.
305,000,000 yen
Number of authorized shares : 360,000,000
shares
Shares issued : 3,466,850
shares
Number of shareholder : 4
Name of
shareholders Number of shares
(%)
-----------------------------------------------------------------------------------------------------------------------------
Mr. Takaaki Usui, Chairman n.
a.
Ms. Akiko Usui, Vice Chairperson n.
a.
Mr. Hiromitsu Usui n. a.
Usui Kokusai Sangyo Kaisha, Ltd.(treasury stock) n. a.
-----------------------------------------------------------------------------------------------------------------------------
Total 3,466,850
shares (100.0)
Activity Product/Service
Description
-------------------------------------------------------------------------------
Manufacturing Plastic tube for automobile
Manufacturing Steel pipe
President Mr. Toshihiko Hoshino (*)
Nationality: Japan
Chairman Mr.
Takaaki Usui (*)
Nationality: Japan
Vice Chairperson Ms. Akiko Usui
Nationality: Japan
Senior Managing Director Mr.
Takanobu Ihara
Nationality: Japan
Managing Director Mr. Yutaka Tsuyuki
Nationality: Japan
Nationality: Japan
Director Mr. Katsushi
Umezawa
Nationality: Japan
Director Mr. Kazumasa Umehara
Nationality Japan
Auditor Mr. Masahiro
Tsuda
Nationality: Japan
Note: The names of
director(s) and auditor(s) are phonetically spelt.
(*): Representative
directors
*Key Personnel*
==============
Mr. Toshihiko Hoshino
President and representative director
Born on August 17, 1953
Business career:
March 23, 2009:
Director
March24, 2014:
Representative director and president
Home address: 3078-23, Shimokanuki, Numazu-shi, Shizuoka pref. 410-0822
Currency: (local
currency - Jp. yen)
-------------------------------------------------------------------------------------
Year |
Sales | Net Income
-------------------------------------------------------------------------------------
|
2008 |
62,785,988,000 |
2,392,874,000 |
|
2009 |
37,628,860,000 |
363,797,000 |
|
2010 |
56,745,046,000 |
1,591,792,000 |
|
2011 |
58,918,062,000 |
6,332,987,000 |
|
2012 |
59,589,336,000 |
5,255,799,000 |
|
2013 |
62,941,625,000 |
7,852,440,000 |
*Book Closing*
============
December 31st
*Financials*
==========
As a private limited company, no official financial statement is
required to be disclosed publicly.
*Bank Details*
============
Bank Name : Bank of
Tokyo-Mitsubishi UFJ, Ltd.
Branch : Numazu
Bank Name : Shizuoka Bank, Ltd.
Branch : Numazu
Bank Name : Sumitomo Mitsui
Banking Corp.
Branch : Shizuoka
*Credit Opinion*
=============
The subject is a time-honored manufacturer of plastic and steel tube and
pipes for automobile and other industrial applications with 73-year business
history.
Its marketing and sourcing channels have been firmly established
worldwide with major Japanese assemblers.
An all-time high performance was posted for Dec. 2013 thanks to robust
demands from its major customers as well as a weaker currency.
Further growth is expected for the upcoming year.
Although the exact financial condition is not available due to
non-disclosure of its financial statements, there would be a certain amount of
retained earnings.
Negative factors are not observed in particular at this moment.
Our standard suggestion would be up to US$ 25 million on terms of 90
days.
Branch name: Tochigi satellite
Branch address: Mibu-cho, Shimotsuga-gun, Tochigi pref.
----------------------------------------------------------------------------------------------------
Branch name: Sayama satellite
Branch address: Sayama-shi, Saitama pref.
----------------------------------------------------------------------------------------------------
Branch name: Oppama satellite
Branch address: Yokosuka-shi, Kanagawa pref.
Six other satellites are in Hamamatsu, Okazaki, Iga, Suzuka, Soja,
Hiroshima cities and Fukuoka pref.
*Main Products
& Services*
======================
Development, manufacture and sales of the following products:
-
Brake tube for
automobile
-
Fuel tube for
automobile
-
Power steering
tube for automobile
-
High coiling
steel pipe/tube
-
Fuel nozzle
-
Steel delivery
pipe
-
UL flex tube
-
Fin tube
-
Plastic cooling
fan
-
Fan drive
-
Other products
Domestic sites:
Izu-nagaoka plant: Izunokuni-shi, Shizuoka pref.
Oh-hito plant: ditto
Kakida plant: Sunto-gun, Shizuoka pref.
Kyowa plant: ditto
High-pressure pipe plant: ditto
Gotenba plant: Gotenba-shi, Shizuoka pref.
Gotenba #2 plant: ditto
Tamagawa plant: ditto
Nagasawa plant: ditto
Nirayama plant: Izunokuni-shi, Shizuoka pref.
Higashi-fuji plant: Sunto-gun Shizuoka pref.
Funabara plant: Izu-shi, Shizuoka pref.
*Address*
=========
Registered address is the same as the operational address.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
January 20,
1941 Incorporated
with an investment of JPY 180,000 under the name of “Usui Seikin Kiki Kenkyusho K.K.”
1945 Took
the current company name.
1949 Invented a fuel nozzle for diesel
engine to embark onto automobile
industry.
1965 Concluded a technology
agreement for fan drive with Schweitzer Corp., USA.
1987 Founded the first operation
in USA.
*Suppliers*
==========
Itochu Marubeni Steel Co., Ltd.
Mitsui & Co., Ltd.
Metal One Corp.
O.G. Corp.
Tsurumi Kokan(Steel Pipe) Co., Ltd.
Ohno Seiko Co., Ltd.
Nagano Seisakusho Co., Ltd.
Kobayashi Kogyo Co., Ltd.
Sojitz Corp.
Daiki Aluminum Co., Ltd.
Mitsui Bussan Plastics Co., Ltd.
*Customers*
==========
Mitsubishi Motors Corp.
Nissan Motor Co., Ltd.
Isuzu Motors Ltd.
Toyota Motor Corp.
Hino Motors Ltd.
Mazda Corp.
Nissan Shatai Co., Ltd.
Yammer Corp.
Panasonic Corp.
Suzuki Motor Corp.
Aichi Kikai Kogyo Co., Ltd.
Akebono Brake Industries Co., Ltd.
IHI Shibaura Co., Ltd.
Company name: Usui International Corp.
Country: USA
Status: Subsidiary
----------------------------------------------------------------------------------------------------
Company name: Usui International Corp. (Thailand) Ltd.
Country: Thailand
Status: Subsidiary
----------------------------------------------------------------------------------------------------
Company name: Usui International France S.A.S.
Country: France
Status: Subsidiary
*Subsidiaries
& Affiliates*
=====================
As of December 31, 2013 the subject owns and controls a total of 17
subsidiaries and affiliates abroad.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
|
1 |
Rs.96.37 |
|
Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
|
<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.