|
Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHINSEI CORPORATION |
|
|
|
|
Registered Office : |
Kyowa No.15 Bldg 4F, 2-5-8 Nishi-Kanda Chiyodaku Tokyo 101-0065 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
February 1973 |
|
|
|
|
Com. Reg. No.: |
0100-01-146208 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Imports, exports and wholesales digital IT products,
electronics components, textiles & sundries, others. |
|
|
|
|
No. of Employees |
25 |
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 |
SHINSEI CORPORATION
REGD NAME: KK
Shinsei Corporation
MAIN OFFICE: Kyowa
No.15 Bldg 4F, 2-5-8 Nishi-Kanda Chiyodaku Tokyo 101-0065 JAPAN
Tel:
03-5212-1253
URL: http://www.shinseicorp.com
E-Mail
address: hadoffice@shinseicorp.com
Import,
export o IT digital products, electronics products, textiles
Himeji
China
(2), Hong Kong, Korea, India, Vietnam
TOSHIRO
OHIGASHI, PRS
Shozo
Shibata, v pres
Lim
Bumsik, v pres
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 5,871 M
PAYMENTSNo
Complaints CAPITAL Yen 88 M
TREND UP WORTH Yen 389 M
STARTED 1973 EMPLOYES 25
TRADING FIRM SPECIALIZING IN DIGITAL IT PRODUCTS,
ELECTRONICS
PRODUCTS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
This is a
trading firm specializing in import, export and wholesale of IT digital
products, electronics components, textiles & sundries (See OPERATION). Goods are widely exported to China, Hong
Kong, Korea, India, Vietnam, other.
Domestic clients include electronics makers, wholesalers, other.
The sales
volume for Dec/2013 fiscal term amounted to Yen 5,871 million, a 117% up from Yen
2,705 million in the previous term.
Sales of WIMAX Mobile Rooters were robust and enjoyed a good
demand. The recurring profit was posted
at Yen 47 million and the net profit at Yen 26 million, respectively, compared
with Yen 17 million recurring profit and Yen 15 million net profit,
respectively, a year ago.
For the
current term ending Dc 2014 the recurring profit is projected at Yen 50 million
and the net profit at Yen 30 million, respectively, on a 3% rise in turnover,
to Yen 6,050 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Feb 1973
Regd No.: 0100-01-146208 (Tokyo-Chiyodaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
708,000 shares
Issued:
177,000 shares
Sum: Yen 88.5 million
Major shareholders (%): Toshiro Ohigashi (61),
Company’s Treasury Stock (9)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
digital IT products, electronics components, textiles & sundries, others
(--100%)
(Handling Items):
Digital IT Products: Mobile WIMAX Data Communication
Terminal, One-segment Mobile Broadcasting Tuner, Micro Projector, IRIs
Identification System;
Electronics Components: Motor, PCB, CCFL electrode, IC,
transformer, electronic parts, module, injection molds & molded parts,
precision mold, outward plastic mold, pressing mold, and second processing,
other;
Textile & Sundries: T-shirts, socks, socks,
underwears, other textile products
Clients: [Mfrs, wholesalers] Panasonic System
Networks, UQ Communications, Bic Camera, KDDI, Sanyo Electric, Toshiba Corp,
Funai Electric, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sanyo Electric,
Panasonic Corp, JVC Kenwood, Hitachi Chemical Ind, Funai Electric, Toshiba
Corp, Modacom, other
Imports from India, other
Payment record: No
Complaints
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Himeji-Chuo)
Banshu
Shinkin Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual
Sales |
|
6,050 |
5,871 |
2,705 |
4,104 |
|
Recur.
Profit |
|
50 |
47 |
17 |
114 |
|
Net
Profit |
|
30 |
26 |
15 |
66 |
|
Total
Assets |
|
|
1,988 |
1,151 |
1,466 |
|
Current
Assets |
|
|
1,683 |
853 |
1,196 |
|
Current
Liabs |
|
|
1,462 |
622 |
1,071 |
|
Net
Worth |
|
|
389 |
364 |
348 |
|
Capital,
Paid-Up |
|
|
88 |
88 |
88 |
|
Div.P.Share(¥) |
|
|
0.00 |
9.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.05 |
117.04 |
-34.09 |
38.74 |
|
|
Current Ratio |
|
.. |
115.12 |
137.14 |
111.67 |
|
N.Worth Ratio |
.. |
19.57 |
31.62 |
23.74 |
|
|
R.Profit/Sales |
|
0.83 |
0.80 |
0.63 |
2.78 |
|
N.Profit/Sales |
0.50 |
0.44 |
0.55 |
1.61 |
|
|
Return On Equity |
.. |
6.68 |
4.12 |
18.97 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
|
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.