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Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
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Name : |
NISSAN TRADING CO LTD |
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Registered Office : |
Belista Tower Higashitotsuka, 91-1 Kawakamicho Totsukaku Yokohama
244-0805 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April 1978 |
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Com. Reg. No.: |
0200-01-037321
(Yokohama-Totsukaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter, wholesaler of automobiles, machinery, steel & nonferrous metals, fuels & chemicals |
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No. of Employees : |
261 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
NISSAN TRADING CO LTD
Nissan Trading KK
Belista Tower
Higashitotsuka, 91-1 Kawakamicho Totsukaku Yokohama 244-0805 JAPAN
Tel: 045-522-3840
E-Mail address: i.terashima@nitco.co.jp
Import,
export, wholesale of automobiles, machinery, steel & nonferrous metals
& fuels, chemicals
Fukuoka,
Utsunomiya, Fuji
China
(3), Nashville, Amsterdam, Los Angeles, Mexico City, Barcelona
China (5),
Taiwan, USA (3), UK (2), Europe (2), India, Indonesia, Thailand, Brazil, other
MASASHI
ENOMOTO, PRES
Akihiro
Ishiwatari, dir
Shigeki
Ueda, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 320,978 M
PAYMENTSREGULAR CAPITAL Yen
320 M
TREND UP WORTH Yen 19,039 M
STARTED 1978 EMPLOYES 261
TRADING HOUSE WHOLLY OWNED BY NISSAN MOTOR CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOF FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established as a trading house by Nissan Motor
Co Ltd, one of the largest automakers in Japan, for importing automotive
components and raw materials, and exporting cars. Through the years since the inception, the
firm has grown into a specialized trading house handling a wide range of
automotive products, utilizing the parent’s wide networks worldwide. The firm has also diversified into various
other areas, such as machinery parts, steel & nonferrous metals, energy
& chemicals, etc. Major portion of
business operations is still with Nissan Motor and its group firms, for
importing & exporting Nissan car produced both domestically and
abroad. Exports Nissan cars to overseas
Japanese embassies, consulates & diplomats.
In Apr 2013 set up a subsidiary in Brazil.
The sales volume for Mar/2013 fiscal term amounted to Yen 320,978
million, a 3% down from Yen 329,194 million in the previous term. The recurring profit was posted at Yen 7,943
million and the net profit at Yen 4,754 million respectively, compared with Yen
7,215 million recurring profit and Yen 4,248 million net profit, respectively,
a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 8,000 million and the net profit at Yen 5,000 million, respectively, on
a 5% rise in turnover, to Yen 337,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr
1978
Regd No.: 0200-01-037321 (Yokohama-Totsukaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.6 million shares
Issued: 400,000 shares
Sum: Yen 320 million
Major shareholders (%):
Nissan Motor Co* (100)
*.. Second largest automaker in Japan, founded 1933, listed Tokyo S/E,
capital Yen 605,814 million, sales Yen 9,629,574 million, operating profit Yen
523,544 million, recurring profit Yen 529,320 million, net profit Yen 342,446
million, total assets Yen 12,925,569
million, net worth Yen 3,879,752 million, employees 160,530, pres Carlos Ghosn
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading house,
owned by Nissan Motor Co, for import, export, wholesale of:
(Sales breakdown
by divisions):
Vehicle Div (7%): automobiles,
commercial vehicles, special vehicles, spare parts & car accessories;
Machinery &
Automotive Components Div (29%): Automotive components business (engines, power train components,
catalytic converters, aluminum wheels, brakes & other chassis components, roof racks, spoilers
& other exterior components, seat materials & other trim components); Machinery (machine tools, presses,
casting equipment, electric vices
& apparatus, plastic injection machines, testers, welding equipment,
stamping dies, molding dies, jig
fixtures, cutting & pneumatic tools, pallets, other tools, environmental facilities;
Steel &
Nonferrous Metal Div (48%): Steel Business (mild steel, cold/rolled steel,
hot-rolled steel, various types of surface-treated steel, special steel
8structural carbon steel, structural alloy steel, stainless steel), extruded
aluminum, pallets for automotive parts; Non-ferrous
metal business (aluminum primary & secondary ingots & aluminum scraps, platinum, palladium, rhodium, rare metals
(cobalt);
Energy, Materials
& Chemical Div (13%): Energy & Materials business (bunker &
industrial fuel oils, lubricants, liquefied petroleum gas (LPG), grease,
automobile gasoline, gas oil & lubricant oils, cokes, materials for
casting, raw materials for steel, nickel for stainless steel recycled precious
metals; Chemical business (synthetic resins (thermoplastic resins,
thermosetting resins, master batches), plastic components, organic chemicals
(intermediates, raw materials, solvents, plasticizers, industrial chemicals,
others.
Chemicals, others
(3%).
Overseas trading
ratio: Imports (13.3%), Exports (25.7%)
Clients: [Carmakers]
Nissan Motor & group firms, Nissan Trading Europe, Nissan Trading USA,
Kyushu Steel Center, Nissan Mexico, Jatco, other
No. of accounts: 100 (Major direct clients)
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nissan Motor, Nippon Steel, Kobe Steel, JFE Steel, Nippon Steel,
Daido Special Steel, Unipress Corp, Kyushu Steel Center, JX Holdings Inc, etc
Payment record: Regular
Location:
Business area in Yokohama.
Office premises at the caption address are owned by the parent, Nissan
Motor Co Ltd, and maintained satisfactorily.
Bank References:
Mizuho
Corporate Bank (H/O)
MUFG
(Shimbashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
337,000 |
320,978 |
329,194 |
293,100 |
|
Recur.
Profit |
|
8,000 |
7,943 |
7,215 |
5,260 |
|
Net
Profit |
|
5,000 |
4,954 |
4,248 |
3,066 |
|
Total
Assets |
|
|
81,786 |
75,249 |
62,805 |
|
Current
Assets |
|
|
79,914 |
73,224 |
60,783 |
|
Current
Liabs |
|
|
62,359 |
59,867 |
51,614 |
|
Net
Worth |
|
|
19,039 |
14,891 |
10,631 |
|
Capital,
Paid-Up |
|
|
320 |
320 |
320 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.99 |
-2.50 |
12.31 |
31.86 |
|
|
Current Ratio |
|
.. |
128.15 |
122.31 |
117.76 |
|
N.Worth Ratio |
.. |
23.28 |
19.79 |
16.93 |
|
|
R.Profit/Sales |
|
2.37 |
2.47 |
2.19 |
1.79 |
|
N.Profit/Sales |
1.48 |
1.54 |
1.29 |
1.05 |
|
|
Return On Equity |
.. |
26.02 |
28.53 |
28.84 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
UK Pound |
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.84.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.