|
Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHOEI CO LTD |
|
|
|
|
Registered Office : |
Shoei Bldg, 6-13-3 Fukushima Fukushimaku Osaka 553-0003 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
November, 1964 |
|
|
|
|
Com. Reg. No.: |
1200-01-007724 (Osaka-Fukushimaku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale of heat exchangers, temperature control system,
refrigerators |
|
|
|
|
No. of Employees : |
33 |
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 |
|
Payment Behaviour : |
No complaints |
|
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
SHOEI CO LTD
REGD NAME: Shoei KK
MAIN OFFICE: Shoei Bldg, 6-13-3 Fukushima Fukushimaku Osaka
553-0003JAPAN
Tel:
06-6454-4288
Fax: 06-6458-4800
URL: http//:www.shoei-sec.jp
E-mail: info@shoei-sec.jp
Import, wholesale of heat exchangers, temperature control system,
refrigerators
Tokyo
KATSUHISA FURUKAWA, PRES
Yoshihide Kashino, s/mg dir
Noriyuki Nishizawa, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,502 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
49 M
TREND UP WORTH Yen 515 M
STARTED 1964 EMPLOYES 33
TRADING FIRM SPECIALIZING IN HEAT EXCHANGERS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established by father of Katsuhisa Furukawa in
order to make most of his experience in the subject line of business. This is a trading firm for importing and
wholesaling oil heaters, refrigerating systems, temperature control system,
suction accumulator, other (See OPERATION). Clients include major electric makers, other.
The sales volume for Jun/2013 fiscal term amounted to Yen 1,502 million,
an almost similar amount of Yen 1,501 million in the previous term. The recurring profit was posted at Yen 73
million and the net profit at Yen 44 million, respectively, compared with Yen
50 million recurring profit and Yen 32 million net profit, respectively, a year
ago. .
For the current term ending Jun 2014 the recurring profit is projected
at Yen 75 million and the net profit at Yen 50 million, respectively, on a 3%
rise in turnover, to Yen 1,550 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Nov 1964
Regd No.: 1200-01-007724 (Osaka-Fukushimaku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 396,000 shares
Issued: 99,000 shares
Sum: Yen 49.5 million
Major shareholders
(%):
Katsuhisa Furukawa (25), Employees’ S/Holding Assn (20), Noriyuki Nishizawa,
Yoshihide Kashino (--each 7), Company’s Treasury Stock, other
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales oil heaters, temperature control systems, refrigerating systems, suction
accumulators, heat exchangers, other (--100%).
(Handling items): thermostats,
freezer & refrigerator units. chillers, plate heat exchangers, commercial
kitchen appliances, industrial heaters, pneummac appliances, piping appliances,
water cleaning chemicals, water treatment chemicals, other.
Clients: [Mfrs,
wholesalers] CKD Corp, Omron Corp, Mitsubishi Electric Building Techno Service,
Aisin Seiki Co, Ebara Service, Hoshizaki Electric Co, Daiwa Industries Ltd,
Miura Co, Sammy Inc, Nichiwa Electric Corp, Maruzen Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] EGO Japan, Panasonic Corp, Mitsubishi Gas Chemical, Style
Electronics Corp, Saginomiya Seisakusho Inc, Honeywell Japan Inc, R&R Corp,
Ikura Seiki Co, other
Payment record: No complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Resona Bank
(Umeda-Kitaguchi)
MUFG
(Dojima)
Relations:
Satisfactory
|
Terms Ending: |
30/06/2014 |
30/06/2013 |
30/06//2012 |
30/06/2011 |
|
|
Annual Sales |
|
1,550 |
1,502 |
1,501 |
1,484 |
|
Recur. Profit |
|
75 |
73 |
50 |
55 |
|
Net Profit |
|
50 |
44 |
32 |
35 |
|
Total Assets |
|
|
1,313 |
1,302 |
1,346 |
|
Current Assets |
|
|
1,010 |
1,016 |
1,070 |
|
Current Liabs |
|
|
505 |
509 |
524 |
|
Net Worth |
|
|
515 |
473 |
445 |
|
Capital, Paid-Up |
|
|
49 |
49 |
49 |
|
Div.Ttl in Million (¥) |
|
|
3 |
4.6 |
3 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.20 |
0.07 |
1.15 |
18.25 |
|
|
Current Ratio |
.. |
200.00 |
199.61 |
204.20 |
|
|
N.Worth Ratio |
.. |
39.22 |
36.33 |
33.06 |
|
|
R.Profit/Sales |
4.84 |
4.86 |
3.33 |
3.71 |
|
|
N.Profit/Sales |
3.23 |
2.93 |
2.13 |
2.36 |
|
|
Return On Equity |
.. |
8.54 |
6.77 |
7.87 |
|
Notes: Forecast (or estimated) figures for the 30/06/2013 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.