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Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SHINTOA CORPORATION |
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Registered Office : |
Marunouchi Center Bldg, 1-6-1 Marunouchi Chiyodaku Tokyo 100-8383 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
February 1952 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 018290 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesales foods (12%), pet-care
goods (19%), health foods, health-care equipment (12.7%), food & beverage
vending machines (33.3%), metal & materials (8.8%), aircraft engines,
parts, other (14.4%). (Overseas trading ratio 20%) |
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|
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No. of Employees |
162 |
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 |
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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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
SHINTOA CORPORATION
REGD NAME: Shintoa
Koeki KK
MAIN OFFICE: Marunouchi
Center Bldg, 1-6-1 Marunouchi Chiyodaku Tokyo 100-8383 JAPAN
Tel:
03-3286-0211 Fax: 03-3213-2405
*..
Moved to the caption address in Feb 2014 from the one as given
URL: http://www.shintoa.co.jp/
E-Mail
address: info@sda.shintoa.co.jp
Import, export, wholesale of foodstuffs, beverages, vending machines
(operation), fuels, chemicals, aircraft engines, others
Osaka,
Nagoya, Fukuoka, Sapporo, Sendai, Hiroshima, Takamatsu
Taipei,
Perth (Australia), Vietnam
USA
(2), UK (1), China
KAZUO SHIGEMOTO,
PRES Takao Takahashi, v pres Masataka
Ozawa, dir Morihiro Toida, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 92,188 M
PAYMENTS No complaints CAPITAL Yen 500 M
TREND SLOW WORTH Yen
6,530 M
STARTED 1952 EMPLOYES 162
TRADING HOUSE, OWNED BY KANEMATSU CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established jointly by voluntary groups of Mitsubishi Corp and
former body of Bank of Tokyo-Mitsubishi, as a trading firm dealing with foods,
metals, resources & materials, household items, etc. In Jan 2006, 60% of Mitsubishi Corp & its
group shares were transferred to Kanematsu Corp, which became 77.4% owning
parent company. Further in Oct 2010
Kanematsu Corp bought the whole shares and the firm became a 100% owned
subsidiary of Kanematsu Corp (See REGISTRATION). This is a trading firm specializing in farm
products, animal feeds, livestock products, vending machines for beverages,
building materials, oil products, aerospace products, aluminum scraps,
etc. Has overseas subsidiaries in USA
(2), UK and China. In Aug/2006, took
over 50% shares of nestle Vending KK from Nestle Japan Corp. Major activities are centered in domestic
operations with overseas trading accounting for 15%. Aircraft engines and peripherals division is
expanding and the vending machine division keeps rising. Health foods also continue growing. In Mar 2008, sold a subsidiary oil dealer,
Shinto Petroleum Corporation, to Kanematsu Petro KK. In Jul 2012, transferred the food division
business to Kanematsu Corp. In Jan 2014
established a JV for trading machinery & parts, equipment, other.
The sales
volume for Mar/2013 fiscal term amounted to Yen 92,188 million, an 11% down
from Yen 103,963 million in the previous term.
This is referred to the separation of some food operations to Kanematsu
Corp. The recurring profit was posted at
Yen 825 million and the net profit at Yen 215 million, respectively, compared
with Yen 1,158 million recurring profit and Yen 676 million net profit,
respectively, a year ago.
For
the term that ended Mar 2014 the recurring profit was projected at Yen 840
million and the net profit at Yen 230 million, respectively, on a 5% rise in
turnover, to Yen 96,500 million. Final
results are yet to be released.
Date Registered: Feb
1952
Regd No.: (Tokyo-Chiyodaku) 018290
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 40,000 shares
Issued: 10,000 shares
Sum: Yen 500 million
Major
shareholders (%): Kanematsu Corp*(100)
*.. Trading house, formerly
general trading businesses, now specializes in foods, IT-related areas, founded
1961, listed Tokyo S/E, capital Yen 27,781 million, turnover Yen 1,019,232
million, operating profit Yen 18,262 million, recurring profit Yen 16,705
million, net profit Yen 9,564 million, total assets Yen 419,638 million, net
worth Yen 68,270 million, employees 5,522, pres Masayuki Shimojima
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales foods (12%), pet-care
goods (19%), health foods, health-care equipment (12.7%), food & beverage
vending machines (33.3%), metal & materials (8.8%), aircraft engines,
parts, other (14.4%).
(Overseas trading ratio 20%)
(Products):
Machinery: industrial machinery, transportation
machinery, machines & tools, prime mover, plant
machinery & equipment for petrochemicals, fertilizer, pulp & paper,
power generation systems;
Aerospace products: airplane engines &
electronic instruments, the products of: Rolls Royce, Honeywell, MOOG (--USA),
Dowty Propellers, Goodrich Control Systems (--UK);
Food & Provisions: agricultural products, sugar,
fruits & vegetables, livestock, meat & dairy products, marine products,
processed foods, other;
Metals: ferrous & non-ferrous metals
Clients: [Mfrs, wholesalers] Japan Beverage, Self
Defense Agency, Gastech Service, Zen-Noh, Neos Co, Daiwa House Ind, Glocal
Petcare Japan, Shinko Service, Daiki Aluminum Ind, Summit Showa Aluminum, Nosan
Corp, Chubu Shiryo, Japell Co, Nakaya Shoji, Arata Corp, Yuka Co, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Corp,
Otsuka Beverage, Shinko Service, Kurabo, Otsuka Pharmaceutical, Asahi Calpis
Beverage, Suntory Foods, Pokka Corp, Royal Canin Japon, other
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(H/O)
Mitsubishi Trust Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
96,500 |
92,188 |
103,963 |
98,801 |
|
Recur.
Profit |
|
840 |
825 |
1,158 |
812 |
|
Net
Profit |
|
230 |
215 |
676 |
451 |
|
Total
Assets |
|
|
28,245 |
33,036 |
32,528 |
|
Current
Assets |
|
|
24,241 |
26,865 |
25,926 |
|
Current
Liabs |
|
|
20,702 |
25,220 |
24,585 |
|
Net
Worth |
|
|
6,530 |
6,616 |
5,976 |
|
Capital,
Paid-Up |
|
|
500 |
500 |
500 |
|
Div.Ttl
in Million (¥) |
|
|
310 |
25 |
24 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.68 |
-11.33 |
5.22 |
-7.76 |
|
|
Current Ratio |
.. |
117.09 |
106.52 |
105.45 |
|
|
N.Worth Ratio |
.. |
23.12 |
20.03 |
18.37 |
|
|
R.Profit/Sales |
0.87 |
0.89 |
1.11 |
0.82 |
|
|
N.Profit/Sales |
0.24 |
0.23 |
0.65 |
0.46 |
|
|
Return On Equity |
.. |
3.29 |
10.22 |
7.55 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.20 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
PDT |
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 |
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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 |
|
|
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 |
|
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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 |
|
|
-- |
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.