|
Report Date : |
12.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
NITTO SHOJI LTD |
|
|
|
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Registered Office : |
4-12-5 Nishi-Tenma Kitaku Osaka 530-0047 |
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|
|
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Country : |
Japan |
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|
|
Financials (as on) : |
31.05.2014 |
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Date of Incorporation : |
June, 1947 |
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|
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Industrial Rubber Gauge,
Machinery, Other. |
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|
|
|
No. of Employees : |
56 |
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 |
|
|
|
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Payment Behaviour : |
No Complaints |
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|
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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 |
|
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 |
NITTO SHOJI LTD
REGD NAME: Nitto
Shoji KK
MAIN OFFICE: 4-12-5
Nishi-Tenma Kitaku Osaka 530-0047JAPAN
Tel: 06-6363-3821 Fax: 06-6363-3975
URL: http://www.nittoshoji.co.jp
E-Mail address: info@nittoshoji.co.jp
Import,
export, wholesale of industrial rubber gauge, machinery, other
Osaka,
Tokyo, Nagoya, Kariya, other (Tot7)
YASUYUKI
TAMATE, PRES Michio Tamate, v pres
Toshio
Wada, mgn dir Kazuhiro
Saito, mgn dir
Hiroshi
Aoyagi, dir Hironobu
Ozeki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,409 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
25 M
TREND UP WORTH Yen 1,340 M
STARTED 1947 EMPLOYES 56
TRADING FIRM SPECIALIZING IN
RUBBER & PLASTIC PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established by faher of Yasuyuki Tamate in order to make
most of his experience in the subject line of business. This is a trading firm with four operation
divisions: rubber products, pneumatic control division, food division (form import
from overseas), textile machinery parts with industrial precision parts. Goods are exported and imported. Clients include rubber makers, machinery
makers, other.
FINANCIAL INFORMATION:
The
sales volume for May/2014 fiscal term amounted to Yen 6,409 million, a 4% up
from Yen 6,181 million in the previous term.
The weaker Yen contributed to raise earnings in Yen terms. The recurring profit was posted at Yen 37
million and the net profit at Yen 41 million, respectively, compared with Yen
38 million recurring profit and Yen 26 million net profit, respectively, a year
ago.
For
the current term ending May 2015 the recurring profit is projected at Yen 50
million and the net profit at Yen 45 million, respectively, on a 6% rise in
turnover, to Yen 1,750 million. .
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Jun
1947
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2 million shares
Issued:
500,000 shares
Sum: Yen 25 million
Major shareholders (%): Nitto Engineering Co (28),
Yasuyuki Tamate (8), Fujikura Rubber Co (8)
No. of shareholders: 20
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for export, import,
wholesale of: industrial rubber gauge (packing, Valve, Rolls, gasket),
pneumatic connecting equipment, foods (Import only), textile machinery parts,
industrial precision parts, other (--100%)
Clients: [Mfrs, wholesalers] Fujikkura Rubber Ind,
Kawasumi Laboratories, Aisan Ind, Denso Corp, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] T Ito Trading Ltd,
Fukai Ind, Aisan Ind, other
Payment record: No
Complaints
Location: Business
area in Osaka. Office premises at the
caption address are owned and maintained satisfactory.
Bank References:
Mizuho Bank (Umeda)
SMBC (Dojima)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/05/2015 |
31/05/2014 |
31/05/2013 |
31/05/2012 |
|
|
Annual
Sales |
|
6,750 |
6,409 |
6,181 |
6,167 |
|
Recur.
Profit |
|
50 |
37 |
38 |
|
|
Net
Profit |
|
45 |
41 |
26 |
29 |
|
Total
Assets |
|
|
4,119 |
4,251 |
4,750 |
|
Current
Assets |
|
|
2,872 |
2,485 |
|
|
Current
Liabs |
|
|
2,009 |
1,728 |
|
|
Net
Worth |
|
|
1,340 |
1,301 |
1,276 |
|
Capital,
Paid-Up |
|
|
25 |
25 |
25 |
|
Div.Ttl
in Million (¥) |
|
|
2.2 |
2.2 |
2.2 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.32 |
3.69 |
0.23 |
3.56 |
|
Current Ratio |
|
.. |
142.96 |
143.81 |
.. |
|
N.Worth Ratio |
|
.. |
32.53 |
30.60 |
26.86 |
|
R.Profit/Sales |
|
0.74 |
0.58 |
0.61 |
.. |
|
N.Profit/Sales |
|
0.67 |
0.64 |
0.42 |
0.47 |
|
Return On Equity |
|
.. |
3.06 |
2.00 |
2.27 |
Notes:
Forecast (or estimated) figures for the 31/05/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.55 |
|
|
1 |
Rs.97.53 |
|
Euro |
1 |
Rs.76.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.