|
Report Date : |
14.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
IHI TRADING
INC |
|
|
|
|
Registered Office : |
Shin-Yurakucho Bldg 8F, 1-12-1 Yurakucho
Chiyodaku |
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|
|
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Country : |
Japan |
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|
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Financials (as on) : |
31.03.2014 (Estimated) |
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Date of Incorporation : |
August 1952 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Exporter and wholesaler of Construction Machinery, Car Parking Elevators, Turbo Chargers, Turbo Compressors, Energy Plant Facilities & Equipment importer of California wines |
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|
|
No of Employees : |
68 |
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 |
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow But Correct |
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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 |
|
Moderate High Risk |
C1 |
|
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 |
IHI TRADING INC
KK IHI Trading
Shin-Yurakucho
Bldg 8F, 1-12-1 Yurakucho Chiyodaku Tokyo 100-0005 JAPAN
Tel:
03-3213-7620 Fax: 03-3213-7638
URL: http://www.ihi.co.jp
E-Mail address: (thru the URL)
· Exporter and wholesaler of Construction Machinery, Car Parking Elevators, Turbo Chargers, Turbo Compressors, Energy Plant Facilities & Equipment
importer of California wines
Osaka,
Nagoya, Hamamatsu, Toyota
TAKAHIRO
TSUCHIYA, PRES Mitsuo
Miura, dir
Orimaru
Orita, dir Kenji
Yamakawa, dir
Takeshi
Kaneko, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 17,623 M
PAYMENTS Slow
But Correct CAPITAL Yen 200 M
TREND UP WORTH Yen 784 M
STARTED 1952 EMPLOYES 68
TRADING COMPANY OWNED BY IHI CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by IHI Corp as a trading company, dealing with construction machinery, other, manufactured by the parent & subsidiaries. It exports car parking elevators, turbo chargers, turbo compressors, energy plant facilities, and imports California wines. Clients include car mfrs, IHI group firms, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 17,623 million, a 12% down from Yen 20,072 million in the previous term. The recurring profit was posted at Yen 64 million and the net profit at Yen 5 million, respectively, compared with Yen 89 million recurring profit and Yen 10 million net profit, respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at Yen 80 million and the net profit at Yen 10 million, respectively, on a 5% rise in turnover, to Yen 18,500 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Aug
1952
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 1.6 million shares
Issued:
400,000 shares
Sum: Yen 200 million
Major shareholders (%): IHI
Corp* (100)
*.. Comprehensive heavy electric machinery mfr, Tokyo, founded Jan 1889, capital Yen 95,762 million, listed Tokyo S/E, sales Yen 1,256,049 million, operating profit Yen 42,141 million, recurring profit Yen 36,219 million, net profit Yen 33,386 million, total assets Yen 1,379,261 million, net worth Yen 304,177 million, employees 27,420, pres Tamotsu Saito
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports and wholesales construction machinery, car parking elevators, turbo chargers, turbo compressors, energy plant facilities & equipment; imports California wines, other (--100%)
Clients: [Mfrs, wholesalers] Hino Motor, Naigai Technos, Chiyoda Corp, IHI Turbo, Haseko Corporation, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] IHI Corp, TC Trading, NOK, other
Payment record: Slow But Correct
Location: Business area in Tokyo. Office premises at the caption address are leased
and maintained satisfactorily.
Bank References:
MUFG (Hibiya)
Mizuho Bank (Kyobashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
18,500 |
17,623 |
20,072 |
17,047 |
|
Recur.
Profit |
|
80 |
64 |
29 |
|
|
Net
Profit |
|
10 |
5 |
10 |
8 |
|
Total
Assets |
|
|
8,723 |
13,085 |
9,944 |
|
Current
Assets |
|
|
8,485 |
11,999 |
|
|
Current
Liabs |
|
|
7,605 |
11,128 |
|
|
Net
Worth |
|
|
784 |
780 |
780 |
|
Capital,
Paid-Up |
|
|
200 |
200 |
200 |
|
Div.Ttl
in Million (¥) |
|
|
6.4 |
6.6 |
3.6 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.98 |
-12.20 |
17.75 |
-30.15 |
|
|
Current Ratio |
|
.. |
111.57 |
107.83 |
.. |
|
N.Worth Ratio |
.. |
8.99 |
5.96 |
7.84 |
|
|
R.Profit/Sales |
|
0.43 |
0.36 |
0.14 |
.. |
|
N.Profit/Sales |
0.05 |
0.03 |
0.05 |
0.05 |
|
|
Return On Equity |
.. |
0.64 |
1.28 |
1.03 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.48 |
|
UK Pound |
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.