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Report Date : |
14.07.2014 |
IDENTIFICATION DETAILS
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Name : |
NST SEIKO CO LTD |
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Registered Office : |
Uni Semba Bldg 505, 2-1-10 Awajimachi
Chuoku |
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Country : |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
July 2002 |
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Com. Reg. No.: |
1200-01-101913 (Osaka-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Volts, Nuts, Nails, Rivets & Pressed
Molding |
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No of Employees : |
11 |
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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. Prime Minister Shinzo ABE
has declared the economy his government's top priority; he has overturned his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus, monetary easing, and
structural reform. Japan joined the Trans Pacific Partnership negotiations in
2013, a pact that would open Japan's economy to increased foreign competition
and create new export opportunities for Japanese businesses. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2013 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 is
exceeding 230% of GDP. To help raise government revenue and reduce public debt,
Japan decided in 2013 to gradually increase the consumption tax to a total of
10% by the year 2015. Japan is making progress on ending deflation due to a
weaker yen and higher energy costs, but reliance on exports to drive growth and
an aging, shrinking population pose other major long-term challenges for the
economy.
|
Source : CIA |
NST SEIKO CO LTD
Nihon ST Seiko KK
Uni Semba Bldg
505, 2-1-10 Awajimachi Chuoku Osaka 541-0047 JAPAN
Tel:
06-6209-0045 Fax: 06-6209-0046
URL: Nil
Manufacturer of Volts, Nuts, Nails, Rivets & Pressed Molding
Nil
Takao
(Taiwan)
Takao
(Taiwan)
SHIN’ICHI
TAKADA, PRES
Atsushi
Takada, dir
Satoko
Takada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,137 M
PAYMENTSNo Complaints
CAPITAL Yen 20 M
TREND UP WORTH Yen 262 M
STARTED 2002 EMPLOYES 11
MFR OF VOLTS & NUTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Shin’ichi Takada in order to make most of his experience in the subject line of business. This firm specialized in mfg volts, nuts, nails, rivets & pressed molding. Mfg is done by its Takao Factory in Taiwan and imported.
Financials are only partially disclosed.
The sales volume for Feb/2014 fiscal term amounted to Yen 1,137 million, a 7% up from Yen 1,060 million in the previous term. Weaker Yen raised import earnings in Yen terms. The net profit was posted at Yen 31 million, compared with Yen 27 million a year ago.
For the current term ending Feb 2015 the net profit is projected at Yen 35 million, on a 5% rise in turnover, to Yen 1,190 million. Weaker Yen continues to raise turnover in Yen terms.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jul
2002
Regd No.: 1200-01-101913 (Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,600 shares
Issued:
400 shares
Sum: Yen 20 million
Major shareholders (%): Shin’ichi Takada (45), Kazue
Takada (27.5), Atsushi Takada (18.5), Satoko Takada (9)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures volts & nuts, nails, rivets, other (--100%)
Clients: [Mfrs, wholesalers] Mfrs (63%), wholesalers (32%), home centers (5%)
No. of accounts: 200
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] imports from Taiwan (92%), USA (5%), Japan (3%)
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Namba)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
|
Annual
Sales |
|
1,190 |
1,137 |
1,060 |
1,150 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
35 |
31 |
27 |
40 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
262 |
231 |
204 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.66 |
7.26 |
-7.83 |
- - - |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
2.94 |
2.73 |
2.55 |
3.48 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.19 |
|
UK Pound |
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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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.