.
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Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
ISHIN HOLDINGS CO LTD |
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Registered Office : |
654-4 |
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Country : |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
May 1990 |
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Com. Reg. No.: |
2600-01-020131
(Okayama-Tsuyama) |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is a building contractor and construction company. |
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No. of Employees : |
32 |
RATING & COMMENTS
|
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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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. 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 |
ISHIN HOLDINGS CO LTD
KK Ishin Holdings
654-4 Ninomiya
Tsuyama City Okayama-Pref 708-0013 JAPAN
Tel:
0868-28-9771 Fax: 0868-28-9775
URL: http://www.realcom.co.jp/imp/news/20120605
web ishii. html
E-Mail address: (thru the URL)
Building
contractor, construction, other-related works
Tokyo,
Okayama, other (6 nationwide)
Ishin
America Inc, Ishin Holdings Pte Ltd (Singapore), Ishin Ltd (Russia)
HIROAKI
ISHIHARA, PRES Tetsuro
Kasaya, s/mgn dir
Shingo
Akiyama, mgn dir Takayoshi
Yamamoto, dir
Hiromi
Hamano, dir Noboru
Nikaido, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,847 M
PAYMENTSNo Complaints
CAPITAL Yen 99 M
TREND UP WORTH Yen 2,090 M
STARTED 1990 EMPLOYES 32
BUILDING & CONSTRUCTION WORKS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENS.
The subject company was established by Hiroaki Ishihara in order to make
most of his experience in the subject line of business. This is a building contractor and
construction company. Buildings and
houses are sold nationwide thru franchisee dealers. The firm operates 6 firms domestically and 3
overseas: USA, Russia and Singapore.
The sales volume for Feb/2013 fiscal term amounted to Yen 2,847 million,
a 25.2% up from Yen 1,293 million in the previous term. This is thanks to the building & sale of
solar shell houses, according to the firm.
The recurring profit was posted at Yen 413 million and the net profit at
Yen 252 million, respectively, compared with Yen 232 million recurring profit
and Yen 145 million net profit, respectively, a year ago.
For the current term ending Feb 2014 the recurring profit is projected
at Yen 430 million and the net profit at Yen 265 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.
Date Registered: May
1990
Regd No.: 2600-01-020131 (Okayama-Tsuyama)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
7,920 shares
Issued:
1,980 shares
Sum: Yen 99 million
Major shareholders (%):
Hiroaki Ishihara & Ishihara families (--100)
No. of shareholders: 7
Nothing
detrimental is known as to his commercial morality.
Activities: Building
contractor and construction works (--100%)
Clients: Franchisees
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Ascon Concrete, Asahi DuPont Flush Products, Sumitomo Forestry, Chofu
Seisakusho, Goddess Create Co, other
Payment record: No
Complaints
Location:
Business area in Tsuyama City, Okayama-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Chugoku
Bank (Tsuyama-Kita)
MUFG
(Okayama)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
|
|
Annual
Sales |
|
3,000 |
2,847 |
1,293 |
1,188 |
|
Recur.
Profit |
|
430 |
413 |
232 |
168 |
|
Net
Profit |
|
265 |
252 |
145 |
117 |
|
Total
Assets |
|
|
2,743 |
2,308 |
2,095 |
|
Current
Assets |
|
|
1,439 |
1,256 |
1,201 |
|
Current
Liabs |
|
|
457 |
249 |
151 |
|
Net
Worth |
|
|
2,090 |
1,887 |
1,780 |
|
Capital,
Paid-Up |
|
|
99 |
99 |
99 |
|
Div.Ttl
in Million (¥) |
|
|
48 |
42 |
37 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.37 |
120.19 |
8.84 |
34.39 |
|
|
Current Ratio |
|
.. |
314.88 |
504.42 |
795.36 |
|
N.Worth Ratio |
.. |
76.19 |
81.76 |
84.96 |
|
|
R.Profit/Sales |
|
14.33 |
14.51 |
17.94 |
14.14 |
|
N.Profit/Sales |
8.83 |
8.85 |
11.21 |
9.85 |
|
|
Return On Equity |
.. |
12.06 |
7.68 |
6.57 |
|
Notes:
Forecast (or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.99 |
|
UK Pound |
1 |
Rs.104.61 |
|
Euro |
1 |
Rs.86.17 |
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 |
|
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.