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Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
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Name : |
SHIKISHIMA ALUMINIUM CO., LTD. |
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Registered Office : |
1-3-5, Deguchi, Hirakata-shi, |
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Country : |
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Date of Incorporation : |
01.09.1956 |
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Com. Reg. No.: |
1200-01-149729 |
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Legal Form : |
Private limited company |
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Line of Business : |
Manufacturer of Aluminum base metal and alloy, Aluminum pipe and plate |
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No of Employees : |
51 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Company Liquidated |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
SHIKISHIMA
ALUMINIUM CO., LTD.
Country: Japan
Company name: SHIKISHIMA ALUMINIUM CO., LTD.
Name in local language: SHIKISHIMA
ALUMINIUM K.K. (敷島アルミニウム株式会社)
Office address: 1-3-5, Deguchi, Hirakata-shi,
Osaka pref. 573-0065
Office tel: 072-832-1121
Business type: Manufacturer
Industry: Aluminum
materials and products
Established: September 1, 1956
Capital: Jp.
50,000,000 yen
Employees: 51
Corporate formation: Private
Corporation No.: 1200-01-149729
(Osaka Legal Affairs Bureau)
Paid in capital : Jp.
50,000,000 yen
Number of authorized shares : 400,000
shares
Shares issued : 100
000 shares
Number of shareholder : 10
Name of
shareholders Number of shares (%)
-----------------------------------------------------------------------------------------------------------
Mr. Shigeru Takagi, president 23,625 shares (23.6)
Shikishima Un-yu Co., Ltd. 15,500
shares (15.5)
Nikkei Sangyo Co., Ltd. 15,000 shares
(15.0)
Kawasaki Heavy Industries, Ltd
10,500 shares (10.5)
-----------------------------------------------------------------------------------------------------------
Total 64,625 shares
(64.6)
Activity Product/Service
Description
-------------------------------------------------------------------------------
Manufacturing Aluminum base metal and alloy
Manufacturing Aluminum pipe and plate
President Mr. Shigeru Takagi
Nationality: Japan
Senior Managing Director Mr.
Akio Okamoto
Nationality: Japan
Director Mr. Shoichi Yamamoto
Nationality: Japan
Director Mr. Eiji
Fujishima
Nationality: Japan
Director
Mr. Hirofumi Kawamura
Nationality: Japan
Auditor Mr. Akira Abe
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Shigeru Takagi
President and representative director
Born on April 7, 1954
Home address: 17-1-317, Asahigaoka-cho, Hirakata-shi, Osaka pref.
573-0026
Currency: (local currency - Jp. yen)
-------------------------------------------------------------------------------------
Year |
Sales | Net Income
-------------------------------------------------------------------------------------
|
2007 |
14,829,801,000 |
122,921,000 |
|
2008 |
14,767,760,000 |
30,865,000 |
|
2009 |
5,805,283,000 |
loss 1,304,504,000 |
|
2010 |
7,671,015,000 |
62,632,000 |
|
2011 |
8,086,013,000 |
loss 45,623,000 |
|
2012 |
7,515,646,000 |
loss 135,373,000 |
|
2013 |
8,015,754,000 |
53,954,000 |
*Book Closing*
============
September 30th
*Financials*
==========
As a private limited company, no official financial statement is
required to be disclosed publicly.
*Bank Details*
============
Bank Name : Mizuho Bank, Ltd.
Branch : Osaka-chuo
Bank Name : Shoko Chukin Bank
Branch : Osaka
Bank Name : Nagoya Bank, Ltd.
Branch : Osaka
*Credit Opinion*
=============
The subject is a local manufacturer, located in a satellite city of
Osaka, specializing in processing of aluminum materials.
This long-standing firm had been doing this job, being backed by several
reputed suppliers and customers.
Some of the major shareholders are public listed corporations.
Sales used to exceed JPY 10 billion in the mid-2000s, but a sizable loss
was posted for Sep. 2009 term, following the Lehman Shock.
Sales had been picking up since then, but the net profit level shows
some instability due to allegedly derivative losses.
On December 18, 2014, the subject announced that it has decided to
liquidate the company.
From now on the subject is consulting with all of its stakeholders in
order not to give any damage to them.
*Main Products
& Services*
======================
Manufacture of the following aluminum materials and products:
- Aluminum base metal
- Aluminum alloy
- Aluminum pipe
- Aluminum plate
At the location of the head office
*Address*
=========
Registered address is the same as the operational address.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
1950 Started business.
September 1, 1956 Incorporated.
*Suppliers*
==========
Hoda Trading Co., Ltd.
Itochu Metals Co., Ltd.
Mitsui Bussan Metals Co., Ltd.
Nikkei Sangyo Co., Ltd.
Alconix Corp.
Marubeni Corp.
*Customers*
==========
Mazda Corp.
Aisin Keikinzoku(Light Metals) Co., Ltd.
Honda Trading Co., Ltd.
Ryobi Corp.
Kawasaki Heavy Industries, Ltd.
Nikkei Sangyo Co., Ltd.
Mitsui Bussan Metals Co., Ltd.
Company name: Takatsuki Die Cast Co., Ltd.
Country: Japan
Status: Affiliate
----------------------------------------------------------------------------------------------------
Company name: Hakkoro Co., Ltd.
Country: Japan
Status: Affiliate
----------------------------------------------------------------------------------------------------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.31 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 78.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
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 |
|
<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.