MIRA INFORM REPORT

 

 

Report Date :

26.12.2014

 

IDENTIFICATION DETAILS

 

Name :

HIROTOMO CORPORATION

 

 

Registered Office :

1-7-7-701, Kitakyuhoji-machi, Chuo-ku, Osaka-shi, Osaka  541-0057

 

 

Country :

Japan

 

 

Date of Incorporation :

01.05.1996

 

 

Com. Reg. No.:

1500-02-009308

 

 

Legal Form :

Private Company

 

 

Line of Business :

Trader  of Iron and steel products

 

 

No. of Employees :

03

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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)

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

Company name

 

HIROTOMO CORPORATION

 

 

Company summary

 

Country:                        Japan

Company name:            HIROTOMO CORPORATION

Name in local language: HIROTOMO CORPORATION, Y.K. 

(有限会社ヒロトモコーポレーション)

Office address:             1-7-7-701, Kitakyuhoji-machi, Chuo-ku, Osaka-shi, Osaka

541-0057

Office tel:                                 06-6268-8791

Business type:              Trader

Industry:                                   Iron and steel products

Established:                  May 1, 1996

Capital:                                     Jp. 3,000,000 yen

Employees:                  3

Corporate formation:     Private

Corporation No.:           1500-02-009308 (Nara Legal Affairs Bureau)

 

 

MAJOR SHAREHOLDERS

 

Paid in capital :                         Jp. 3,000,000 yen

Number of authorized shares :   60 shares

Shares issued :                         60 shares

Number of shareholder :                        1

 

Mr. Hirotoh Hayashi, president holds 100 percent.

 

 

DETAILED PRODUCT CLASSFICATION & ACTIVITY

 

Activity             Product/Service Description

-------------------------------------------------------------------------------

Trading             Steel and iron products

 

 

COMPANY MANAGEMENT

 

President                      Mr. Hirotoh Hayashi

Nationality:                    Japan

 

Director                                    Ms. Junko Hayashi

Nationality:                    Japan

 

 

Note: The names of director(s) and auditor(s) are phonetically spelt.

 

 

*Key Personnel*

==============

Mr. Hirotoh Hayashi

President and representative director since establishment

Born on June 10, 1941

Home address: 252-2, Tsukiyama, Yamatotakada-shi, Nara 635-0071

(same as the registered address of the subject)

 

 

FINANCIALS

 

Currency: (local currency - Jp. yen)

-------------------------------------------------------------------------------------

 Year |         Sales            |      Net Income    

-------------------------------------------------------------------------------------

2010

460,000,000

15,000,000

2011

450,000,000

10,000,000

2012

420,000,000

8,000,000

2013

410,000,000

8,000,000

2014

400,000,000

n. a.

 

 

FINANCIAL DESCRIPTION

 

*Book Closing*

============

May 31

 

*Financials*

==========

As a private limited company, no official financial statement is required to be disclosed publicly.

 

 

*Bank Details*

============

Bank Name :     Sumitomo Mitsui Banking Corp.

Branch :            Itachibori

 

 

*Credit Opinion*

=============

The subject is an Osaka-based small-sized firm specializing in export of steel materials and products with actually over 20-year business experience.

A steady performance has been maintained for recent years despite small-sized business thanks to a low cost operation.

Although the exact financial condition is not available due to non-disclosure of its financial statements, there would be some amount of retained earnings.

Negative factors are not observed in particular at present except for a small amount of the capital paid-up and an old age of the head of the subject.

 

 

PRODUCT, TECHNOLOGY, SERVICE DESCRIPTION

 

*Main Products & Services*

======================

Specializing in export of steel and iron products.

 

Cold-rolled steel plate

Surface treated plate

Tinplate

Stainless steel plate

Stainless steel pipe

 

 

ORGANIZATION STRUCTURE

 

*Address*

=========

Registered address: 252-2, Tsukiyama, Yamatotakada-shi, Nara 635-0071

 

Operational address: 1-7-7-701, Kitakyuhoji-machi, Chuo-ku, Osaka-shi, Osaka 541-0057

 

 

*Company History*

================

Date                 Development

-----------------------------------------------------------------------------------------------

Feb. 1993                     Started business.

May 1996                      Incorporated.

 

 

TRADE REFERENCES

 

*Suppliers*

==========

n. a.

 

 

*Customers*

==========

Export to;

- Hong Kong

- China

 

 

- Taiwan

- India

- Southeast & South Asian countries

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.45

UK Pound

1

Rs.98.88

Euro

1

Rs.77.62

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIS

 

               

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.