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Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
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Name : |
HIRA CERAMICS CO LTD |
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Registered Office : |
356-1 Higashiyama Hokusogicho Toyota City Aichi-Pref 470-0461 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
September 1961 |
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Com. Reg. No.: |
1803-01-019870 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of ceramics products |
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No of Employees : |
33 |
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.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
HIRA
CERAMICS CO LTD
KK Hira Ceramics
356-1 Higashiyama Hokusogicho Toyota City
Aichi-Pref 470-0461 JAPAN
Tel: 0565-76-1138 Fax: 0565-76-3253
URL: Error!
Hyperlink reference not valid.hiraceramics.co.jp
E-Mail address: fujioka.f@hiraceramics.co.jp
Mfg of ceramics products
Fukui
At the caption address, Fukui
ISAO HIRA, PRES
Kazuyuki Hira, dir
Masami Kato, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 930 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
10 M
TREND SLOW WORTH Yen 915 M
STARTED 1961 EMPLOYES 33
MFR OF
CERAMICS PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The
subject company was established by father of Isao Hira in order to make most of
his experience in the subject line of business.
Originally started mfg table ware and in 1972 launched into mfg ceramics
products, such as alumina ball, alumina lining, other. Goods are exported. Clients include table ware mfrs, wholesalers,
other.
Financials
are disclosed only partially.
The
sales volume for Feb/2013 fiscal term amounted to Yen 930 million, a 2% down
from Yen 950 million in the previous term.
The net profit was posted at Yen 25 million, compared with Yen 30
million net profit a year ago.
For
the term that ended Feb 2014 the net profit was projected at Yen 35 million, on
a 5% rise in turnover, to Yen 975 million.
Final results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered:
Sept 1961
Regd No.: 1803-01-019870
(Aichi-Toyota)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen
10 million
Major shareholders (%): Isao
Hira (50)
No. of shareholders: 7
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Manufactures ceramics, ceramics products, such as alumina ball, alumina lining,
others (--100%)
Clients:
[Mfrs, wholesalers] Fujimi Incorporated. Toray Ind, Morimura Bros Inc, Nitto
Sangyo, Miyano Ceramics, Nihon Jisui Corp, other
No.
of accounts: 300
Domestic
areas of activities: Centered in the Greater-Nagoya
Suppliers:
[Mfrs, wholesalers] Fuji Ceramics Corp, Seto Nitto Sangyo, Suzuichi Bussan Co,
Yamato Ceramics, Kurogane Techno Co, other
Payment record: No Complaints
Location:
Business area in Toyota City, Aichi-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank
References:
MUFG
(Seto)
Shoko
Chukin Bank (Nagoya)
Relations:
Satisfactory
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Terms Ending: |
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28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
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Annual
Sales |
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975 |
930 |
950 |
950 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
35 |
25 |
30 |
30 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
|
|
915 |
890 |
860 |
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Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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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 |
4.84 |
-2.11 |
0.00 |
1.06 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
3.59 |
2.69 |
3.16 |
3.16 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.07 |
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|
1 |
Rs. 99.20 |
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Euro |
1 |
Rs. 80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
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|
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
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 |
|
-- |
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.