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Report Date : |
16.01.2014 |
IDENTIFICATION DETAILS
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Name : |
NABEL CO LTD |
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Registered Office : |
86 Morimotocho Nishi-9-jo Minamiku Kyoto
601-8444 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
October 1987 |
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Com. Reg. No.: |
1300-01-030568
(Kyoto-Minamiku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Engaged in manufacturer of egg processing systems such as auto egg washing, grinding & packing systems, non-destructive inspection system for eggs, grading system for agriculture products |
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No. of Employees : |
123 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 119.7 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 |
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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 |
NABEL CO LTD
KK Nabel
86 Morimotocho
Nishi-9-jo Minamiku Kyoto 601-8444 JAPAN
Tel: 075-693-5301 Fax: 075-693-5311
URL: http://www.nabel.co.jp
E-Mail address: nabel@mail.nabel.co.jp
Mfg of
egg processing systems
Sapporo,
Aomori, Saitama, Aichi, Okayama, other (Tot 8)
Malaysia,
Brazil (--subsidiaries) China, India, Korea, Malaysia, Philippines, Taiwan,
Thailand, Ukraine,
Australia,
Saudi Arabia, Turkey (--agents)
At the
caption address
TSUTOMU
MARUYAMA, PRES
Kunio
Nambu, ch Yukio
Nambu, s/mgn dir
Tamiko
Oka, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,845 M
PAYMENTSNo Complaints
CAPITAL Yen 82 M
TREND SLOW WORTH Yen 2,370 M
STARTED 1987 EMPLOYES 123
TRADING FIRM SPECIALIZING IN EGG PROCESSING SYSTEM.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 119.7 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Kunio Nambu in order to make most
of his experience in the subject line of business. This is a specialized mfr of egg processing
systems: auto washing, grinding & packing systems for eggs, packing systems
for eggs, other. Operates two
subsidiaries in Malaysia and Brazil. Has
sale agents in China, India, Korea, Malaysia, Thailand, Ukraine, Turkey, other.
(Tot 11). Goods are totally shipped to
Zen-Noh (Japan Agricultural Association) nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 2,845 million,
a 25% down from Yen 3,805 million in the previous term. Shipments to China were substantially
decreased. The recurring profit was
posted at Yen 213 million and the net profit at Yen 140 million, respectively,
compared with Yen 394 million recurring profit and yen 223 million net losses,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 230 million and the net profit at Yen 150 million, respectively, on a 5%
rise in turnover, to Yen 3,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 119.7 million, on 30 days normal terms.
Date Registered: Oct
1987
Regd No.: 1300-01-030568 (Kyoto-Minamiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
65,600 shares
Issued:
16,400 shares
Sum: Yen 82 million
Major shareholders (%): Nambu Denki Seisakusho (37),
Nobel S/Holding Assn (25), Kunio Nambu (15)
No. of shareholders: 8
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
processing system for eggs: auto egg washing, grinding & packing systems,
non-destructive inspection system for eggs, grading system for agriculture
products, others (--100%)
Clients: [Mfrs,
wholesalers] Zen-Noh (Japan Agricultural Association) nationwide
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Zero System, Murata Machinery, Hikari Dendoki Co, Tech Work, Hayashi Denki
Seisakusho, Tsubakimoto Machinery, Johnan Manufacturing Inc, other
Payment record: No Complaints
Location: Business area in
Kyoto. Office premises at the caption address
are owned and maintained satisfactorily.
Bank
References:
Kyoto Shinkin Bank (Kisshoin)
MUFG (Kyoto-Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
3,000 |
2,845 |
3,805 |
2,553 |
|
Recur.
Profit |
|
230 |
213 |
394 |
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Net
Profit |
|
150 |
140 |
-223 |
114 |
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Total
Assets |
|
|
3,466 |
3,507 |
4,181 |
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Current
Assets |
|
|
2,529 |
2,520 |
|
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Current
Liabs |
|
|
1,029 |
1,184 |
|
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Net
Worth |
|
|
2,370 |
2,246 |
2,478 |
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Capital,
Paid-Up |
|
|
82 |
82 |
82 |
|
Div.P.Share(¥) |
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|
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.45 |
-25.23 |
49.04 |
-13.40 |
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|
Current Ratio |
|
.. |
245.77 |
212.84 |
.. |
|
N.Worth Ratio |
.. |
68.38 |
64.04 |
59.27 |
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R.Profit/Sales |
|
7.67 |
7.49 |
10.35 |
.. |
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N.Profit/Sales |
5.00 |
4.92 |
-5.86 |
4.47 |
|
|
Return On Equity |
.. |
5.91 |
-9.93 |
4.60 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.59 |
|
UK Pound |
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.99 |
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 |
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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 |
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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.