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Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
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Name : |
SHIMA SHOJI CO LTD |
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Registered Office : |
3-13-16 Nakaishikiri-cho Higashi-Osaka Osaka-Pref |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
March, 1981 |
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Com. Reg. No.: |
1220-01-003287
(Osaka-Higashiosaka) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of electrical
working tools, LAN networking tools, cutting tools |
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No. of Employees : |
7 |
RATING & COMMENTS
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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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Maximum Credit Limit : |
Yen 25.6 million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
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 |
SHIMA SHOJI CO LTD
REGD NAME: Shima Shoji KK
MAIN OFFICE: 3-13-16 Nakaishikiri-cho Higashi-Osaka Osaka-Pref JAPAN
Tel: 072-988-3015
Fax: 072-988-3016
URL: N/A
Import, wholesale of electrical
working tools, LAN networking tools, cutting tools
Higashi-Osaka (2) (Warehouse &
real estate for leasing
KEISUKE SHIMA, PRES
Keisuke Shima, ch
Tohru Ishikawa, s/mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 956 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 34 M
TREND UP WORTH Yen 163 M
STARTED 1981 EMPLOYES 7
IMPORTER OF ELECTRIC WORKING
TOOLS, CUTTING TOOLS, OTHER
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 25.6
MILLION, 30 DAYS NORMAL TERMS
The subject company was
established on the basis of a trading division separated from Jefcom Co Ltd,
mfr of working tools, electric working tools, at the caption address (See
REGISTRATION). Goods are imported from China,
Taiwan, USA, Germany, other, and wholly shipped to the parent, Jefcom Co.
Financials are only partially
disclosed as from the Mar/2010 fiscal term.
Sales volume for Mar/2014 fiscal
term amounted to Yen 956 million, a 21% up from Yen 787 million in the previous
term. The operations came back to
profitable to post Yen 111 million net profit for the term, compared to Yen 104
net losses a year ago. .
For the current term ending Mar
2015 the net profit is projected at Yen 115 million, on a 3% rise in turnover,
to Yen 985 million.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 25.6
million, on 30 days normal terms.
Date Registered: Mar 1981
Regd No.: 1220-01-003287 (Osaka-Higashiosaka)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 272,000
shares
Issued: 68,000 shares
Sum: Yen 34
million
Major shareholders (%):
Kensuke Shima (66), Keisuke Shima (17), Setsumi Shima (17)
No. of shareholders: 3
* Jefcom Co Ltd, owned &
operated by the Shima family, at the caption address, founded 1966, capital Yen
98 million, shareholders are these three (Shima family), sales Yen 3,500
million, net profit Yen 30 million, employees 110, pres Keisuke Shima,
concurrently
Nothing detrimental is known as to
the commercial morality of executives.
Activities: Imports
and wholesales electric working tools, cutting tools, air-conditioner racks,
tools for LAN communications, lighting apparatus, lifters, electric wire
connectors, duct cutters, other (--90%); real estate leasing, others (10%).
Clients: [Mfr] Shipped
wholly to the parent, Jefcom Co Ltd
No.
of accounts: 1
Domestic
areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Imports from China, Taiwan, USA, Germany, other
Payment record: Slow
but Correct
Location: Business
area in Higashi-Osaka City. Office
premises at the caption address are owned by the parent and maintained
satisfactorily.
Bank References:
MUFG (Hiraoka)
Shoko Chukin Bank (Semba)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
Annual Sales |
|
985 |
956 |
787 |
799 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
115 |
111 |
-104 |
14 |
|
Total Assets |
|
|
N/A |
N/A |
994 |
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Net Worth |
|
|
274 |
163 |
267 |
|
Capital, Paid-Up |
|
|
34 |
34 |
34 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.03 |
21.47 |
-1.50 |
22.73 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
26.86 |
|
N.Profit/Sales |
|
11.68 |
11.61 |
-13.21 |
1.75 |
Notes: Financial are only
partially disclosed as from the 31/03/2010 fiscal term.
Forecast (or estimated) figures
for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
|
|
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.