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Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
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Name : |
THE HOSHO CORPORATION |
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Registered Office : |
Yushi Kogyo
Kaikan 4F, 3-13-11 Nihombashi Chuoku |
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Country : |
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Financials (as on) : |
30.04.2013 |
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Date of Incorporation : |
March 1955 |
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Com. Reg. No.: |
0100-01-056884
(Tokyo-Chuoku) |
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Legal Form : |
Limited Company
(Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of electric equipment, soldering unit,
golf-links goods |
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No. of Employees : |
70 |
RATING & COMMENTS
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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 : |
Yen 268.0 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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
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 |
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. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 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 exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy
|
Source
: CIA |
THE
HOSHO CORPORATION
REGD NAME: Hosho
KK
MAIN OFFICE: Yushi
Kogyo Kaikan 4F, 3-13-11 Nihombashi Chuoku
Tel:
03-3274-2431 Fax: 03-3271-8023
URL: http://www.hosho.ne.jp
E-Mail address: (thru the URL)
Import, export,
wholesale of electric equipment, soldering unit, golf-links goods
Sapporo, Sendai,
Chiba, Osaka, Fukuoka, other (Tot 6)
Hong Kong, China,
other
TERUO IWAKI, PRES
Kunio Nakashima,
ch
Sadaharu Atari,
mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 5,871 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 81 M
TREND UP WORTH Yen 2,346 M
STARTED 1955 EMPLOYES 70
TRADING FIRM.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 268.0 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Kunio Nakashima, now ch, in order
to make most of his experience in the subject line of business. Teruo Iwaki took the pres office in Dec
2002. This is a trading firm for import,
export and wholesale of electric equipment/parts, golf-link goods, soldering
units, cameras, other (See OPERATION). Has an office in Hong Kong. Clients include major electronics mfrs,
wholesalers, other, nationwide
The sales volume for Apr/2013 fiscal term amounted to Yen 5,871 million,
a 4% up from Yen 5,637 million in the previous term. Yen weakened and export/import revenues were
raised in Yen terms The recurring profit
was posted at Yen 66 million and the net profit at Yen 66 million,
respectively, compared with Yen 9 million recurring loss and yen 31 million net
profit, respectively, a year ago.
For the current term ending Apr 2014 the recurring profit is projected
at Yen 70 million and the net profit at Yen 70 million, respectively, on a 4%
rise in turnover, to Yen 6,100 million.
Weaker Yen may raise earnings in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 268.0 million, on 30 days normal terms.
Date Registered: Mar 1955
Regd No.:
0100-01-056884
(Tokyo-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 648,000
shares
Issued: 162,000
shares
Sum: Yen
81 million
Major
shareholders (%): Kunio Nakashima (15), Teruo Iwaki (14), Sadaharu Atari (10)
No. of shareholders: 40
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales various items: thermostat, golf cart, soldering irons/units,
cameras, camera parts, other (--100%)
Clients: [Mfrs,
wholesalers] Canon Inc, Panasonic Corp, Sharp Ltd, Toshiba Corp, Tokyu Group
firms, Seibu Group firms, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Yamaha Motor Sales, Sanpo Chemical, Chiba Ceramic Ind, Panasonic
Corp, Honeywell, 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
(Kyobashi)
MUFG
(Yaesudori)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
30/04/2014 |
30/04/2013 |
30/04/2012 |
30/04/2011 |
|
|
Annual
Sales |
|
6,100 |
5,871 |
5,637 |
5,469 |
|
Recur.
Profit |
|
70 |
66 |
-9 |
|
|
Net
Profit |
|
70 |
66 |
31 |
9 |
|
Total
Assets |
|
|
3,824 |
3,823 |
3,585 |
|
Current
Assets |
|
|
3,737 |
3,724 |
|
|
Current
Liabs |
|
|
1,478 |
1,528 |
|
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Net
Worth |
|
|
2,346 |
2,295 |
2,320 |
|
Capital,
Paid-Up |
|
|
81 |
81 |
81 |
|
Div.Ttl
in Million (¥) |
|
|
16.2 |
16.2 |
16.2 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.90 |
4.15 |
3.07 |
17.71 |
|
|
Current Ratio |
|
.. |
252.84 |
243.72 |
.. |
|
N.Worth Ratio |
.. |
61.35 |
60.03 |
64.71 |
|
|
R.Profit/Sales |
|
1.15 |
1.12 |
-0.16 |
.. |
|
N.Profit/Sales |
1.15 |
1.12 |
0.55 |
0.16 |
|
|
Return On Equity |
.. |
2.81 |
1.35 |
0.39 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 30/04/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
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 |
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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 |
|
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.