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Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
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Name : |
SHIKISHIMA ALUMINUM CO LTD |
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Registered Office : |
1-3-5 Deguchi Hirakata Osaka-Pref 573-0065 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
September 1958 |
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Com. Reg. No.: |
1200-01-149729 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of aluminum alloys & products |
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No of Employees : |
51 |
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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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
SHIKISHIMA ALUMINUM CO LTD
Shikishima
Aluminum KK
1-3-5 Deguchi
Hirakata Osaka-Pref 573-0065 JAPAN
Tel: 072-832-1121 Fax: 072-832-1103
URL: N/A
Mfg of
aluminum alloys & products
At the
caption address, Sakai
SHIGERU
TAKAGI, PRES Akio Okamoto, s/mgn
dir
Eiji
Fujishima, dir Shoichi
Yamamoto, dir
Hirofumi
Kawamura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 8,015 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 50 M
TREND UP WORTH Yen 673 M
STARTED 1958 EMPLOYES 51
TRADING FIRM SPECIALIZING IN ALUMINUM & PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$500K.
The subject company was established by Shigeru Takagi in
order to make most of his experience in the subject line of business. This is a specialized mfr of aluminum alloys
& products particularly for automobile industry. Products are also exported to USA,
other. Clients include automakers, heavy
metal industries, other.
The sales volume for Sept/2013 fiscal term amounted to Yen
8,015 million, a 7% up from Yen 7,515 million in the previous term. This is attributed to eh price hike of the
aluminum and demand also rose from automakers.
The recurring profit was posted at Yen 84 million and the net profit at
Yen 53 million, respectively, compared with Yen 97 million recurring loss and
Yen 135 million net losses, respectively, a year ago.
For the current term ending Sept 2014 the recurring profit
is projected at Yen 90 million and the net profit at Yen 60 million,
respectively, on a 3% rise in turnover, to Yen 8,250 million. .
The financial situation is considered FAIR and good for
ORDINARY business engagements. The
proposed amount of US$500K comes well within the firm’s financial capabilities.
Date Registered: Sept
1958
Regd No.: 1200-01-149729
(Osaka-Hirakata)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 400,000 shares
Issued:
100,000 shares
Sum: Yen
50 million
Major shareholders
(%): Shigeru Takagi (23), Shikishima Unyu
(15), Nikkei Sangyo (15), Kawasaki
Heavy Ind (10), Akio Okamoto (10)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
aluminum & products: aluminum sheets, aluminum coils, aluminum plates,
tubes, rods, others particularly for automakers (--100%)
Clients: [Mfrs, wholesalers] Mazda Motors,
Kawasaki Heavy Ind, Honda Trading, Aisin Keikinzoku Co, Ryobi Limited, Mitsui
Bussan Light Metals, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Honda Trading, Al
Conix Corp, Marubeni Metals, Itochu Metals, Mitsui Bussan Metals, Marubeni
Corp, ALCONIX Corp, other
Payment record: No
Complaints
Location:
Business area in Hirakata City, Osaka-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Mizuho Bank (Osaka-Chuo)
Shoko Chukin Bank
(Osaka)
Relations: Satisfactory
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Terms Ending: |
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
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Annual
Sales |
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8,250 |
8,015 |
7,515 |
8,086 |
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Recur.
Profit |
|
90 |
84 |
-97 |
29 |
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Net
Profit |
|
60 |
53 |
-135 |
-45 |
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Total
Assets |
|
|
3,284 |
3,377 |
3,534 |
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Current
Assets |
|
|
2,726 |
2,776 |
2,922 |
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Current
Liabs |
|
|
1,154 |
1,089 |
926 |
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Net
Worth |
|
|
673 |
621 |
762 |
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Capital,
Paid-Up |
|
|
50 |
50 |
50 |
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Div.Ttl
in Million (¥) |
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|
5 |
5 |
5 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.93 |
6.65 |
-7.06 |
5.41 |
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Current Ratio |
.. |
236.22 |
254.91 |
315.55 |
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N.Worth Ratio |
.. |
20.49 |
18.39 |
21.56 |
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R.Profit/Sales |
1.09 |
1.05 |
-1.29 |
0.36 |
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N.Profit/Sales |
0.73 |
0.66 |
-1.80 |
-0.56 |
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Return On Equity |
.. |
7.88 |
-21.74 |
-5.91 |
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Notes: Forecast (or estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.26 |
|
|
1 |
Rs. 99.62 |
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Euro |
1 |
Rs. 80.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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-- |
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.