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Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
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Name : |
NIHON KIDEN CO LTD |
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Registered Office : |
3-5-13 Aramoto-Kita Higashi-Osaka City Osaka-Pref 577-0011 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
January, 1973 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of construction materials, temporary scaffold,
construction metal materials |
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No. of Employees : |
90 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 46.5 million |
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Status : |
Moderate |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
NIHON KIDEN CO LTD
REGD NAME: Nihon Kiden KK
MAIN OFFICE: 3-5-13 Aramoto-Kita Higashi-Osaka City
Osaka-Pref 577-0011 JAPAN
Tel:
06-6745-2711
Fax: 06-6745-1899
URL: http://www.n-kiden.co.jp
E-Mail address: (thru the URL)
Mfg construction materials, temporary scaffold, construction metal
materials
Tokyo, Nagoya, Chiba, other
Korea
Korea
YOSHIJI KUSAMA, PRES Kiyonori
Tsuji, dir
Masami Arimura, dir Koji
Ide, dir
Makoto Shinjo, dir Yasuhiro
Ueda, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,500 M*
PAYMENTS NO COMPLAINTS CAPITAL Yen
150 M
TREND SLOW WORTH Yen 5,177 M*
STARTED 1973 EMPLOYES 90
*.. Only estimated as
Dec/2012 financials are not precisely disclosed
MFR OF CONSTRUCTION TEMPORARY MATERIALS, SCAFFOLDS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 46.5 MILLION, 30 DAYS NORMAL TERMS
The subject company is a specialized mfr of construction temporary gate
materials, scaffolds, other, manufactured by a subsidiary factory in Korea, and
imported. It also makes construction
metal materials. Also executes
construction works. Clients include
major general construction companies, nationwide.
Financials are only partially disclosed until Dec/2011 fiscal term, thereafter
no financials are disclosed and the following figures are only estimated.
The sales volume for Dec/2012 fiscal term is estimated amounted to Yen
2,500 million, a 4% down from Yen 2,592 million in the previous term. The net profit is estimated posted at Yen 70
million, compared with Yen 71 million a year ago.
For the term that ended Dec 2013 the net profit was projected at Yen 75
million, on a 6% rise in turnover, to Yen 2,650 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 46.5 million, on 30 days normal terms.
Date Registered: Jan
1973
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.2 million shares
Issued:
300,000 shares
Sum: Yen 150 million
Major shareholders
(%): Nikko Planning Co (62.1), Yoshiji Kusama (37.9)
No. of
shareholders: 2
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
construction temporary materials, gates, scaffolds, metal materials, other,
manufactured at a subsidiary factory in Korea, and imported (--100%)
Clients: [Mfrs,
wholesalers] Kajima Corp, Shimizu Corp, Obayashi Corp, Takenaka Corp, Toda
Corp, Kumagai Gumi Co, Nishimatsu Construction Co, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hanwa Corp, Sumikin Bussan, other
Imports from a subsidiary factory in Korea.
Payment record: No complaints
Location: Business area in
Higashi-Osaka City. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Higashi-Osaka)
Mizuho Bank
(Osaka)
Relations:
Satisfactory
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Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
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Annual Sales |
|
2,650 |
2,500 |
2,592 |
1,771 |
|
Recur. Profit |
|
.. |
.. |
117 |
272 |
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Net Profit |
|
75 |
70 |
71 |
170 |
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Total Assets |
|
|
N/A |
6,786 |
6,884 |
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Net Worth |
|
|
5,177 |
5,107 |
5,111 |
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Capital, Paid-Up |
|
|
150 |
150 |
150 |
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Div.P.Share(¥) |
|
|
0.00 |
75.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.00 |
-3.55 |
46.36 |
3.27 |
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Current Ratio |
.. |
.. |
.. |
||
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N.Worth Ratio |
.. |
75.26 |
74.24 |
||
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N.Profit/Sales |
2.83 |
2.80 |
2.74 |
9.60 |
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Notes: Financials are only partially disclosed. Financials for Dec/2012 fiscal term are not
disclosed and is only estimated for both sales and profits.
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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 |
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<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.