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Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
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Name : |
ITO SHOJI CO LTD |
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Registered Office : |
Oxford Bldg, 2-8-4 Kyobashi Chuoku Tokyo 104-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May, 1962 |
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Com. Reg. No.: |
0100-01-037310 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale crude rubber, rubber products, chemicals |
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No. of Employees : |
6 |
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.
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 |
ITO SHOJI CO LTD
REGD NAME: Ito Shoji KK
MAIN OFFICE: Oxford Bldg, 2-8-4 Kyobashi Chuoku Tokyo
104-0031 JAPAN
Tel:
03-3562-5811
Fax: 03-3567-7563
URL: http://www.ito-shoji.co.jp
E-Mail address: (thru the URL)
Import, wholesale crude rubber, rubber products, chemicals
Nil
SUSUMU NISHISHIGE, PRES
In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 1,200 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
60 M
TREND SLOW WORTH Yen 1,968 M
STARTED 1962 EMPLOYES 6
IMPORTER OF RUBBER & RUBBER PRODUCTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE
BUSINESS ENGAGEMENTS.
The subject company was established by Susumu Nishishige in order to
make most of his experience in the subject line of business. This is a trading firm for importing and
wholesaling natural crude rubber, rubber products, other. Goods are imported from Indonesia, Malaysia,
Sri Lanka, other. Clients include rubber
makers, tire makers, other.
Financials are only partially disclosed.
The sales volume for Mar/2013 fiscal term amounted to Yen 1,200 million,
a 47% down from Yen 2,270 million in the previous term. The net profit was posted at Yen 15 million,
compared with Yen 22 million a year ago.
For the term that ended Mar 2014 the net profit was projected at Yen 15
million, on an 8% rise in turnover, to Yen 1,300 million. Final results are yet to be released.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
Date Registered: May 1962
Regd No.: 0100-01-037310 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
480,000 shares
Issued: 120,000 shares
Sum: Yen 60 million
Major shareholders
(%):
Susumu Nishishige, other (--100)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales natural crude rubber, rubber products, other (--100%).
Clients: [Mfrs,
wholesalers] Bridgestone Corp, Furukawa Electric Ind, Yazaki & Co,
Sekisui Chemical Ind, other,
No. of accounts: 100
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs] Imports from: Malaysia, Indonesia, Sri Lanka,
other.
Domestically supplied from: Mitsubishi
Rayon, Mitsubishi Corp, NOF Corp, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Yaesudori)
Mizuho Bank
(Kyobashi)
Relations:
Satisfactory
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Terms Ending: |
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31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual Sales |
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1,300 |
1,200 |
2,270 |
2,282 |
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Recur. Profit |
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.. |
.. |
49 |
87 |
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Net Profit |
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15 |
15 |
22 |
12 |
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Total Assets |
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N/A |
2,200 |
2,389 |
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Net Worth |
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1,968 |
1,953 |
1,936 |
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Capital, Paid-Up |
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60 |
60 |
60 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
8.33 |
-47.14 |
-0.53 |
24.36 |
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Current Ratio |
.. |
.. |
.. |
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N.Worth Ratio |
.. |
88.77 |
81.04 |
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N.Profit/Sales |
1.15 |
1.25 |
0.97 |
0.53 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.23 |
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1 |
Rs.101.68 |
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Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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.