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Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
JFE SHOJI TRADE CORPORTION |
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Registered Office : |
1-9-5 Ohtemachi Chiyodaku |
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Country : |
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|
|
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
1948 |
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Com. Reg. No.: |
0100-01-01-013552 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import,
export, wholesale of steel, iron ore, chemicals, machinery, other |
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|
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No. of Employees : |
927 |
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 – 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 |
JFE SHOJI TRADE CORPORTION
REGD NAME: JFE
Shoji KK
MAIN OFFICE: 1-9-5
Ohtemachi Chiyodaku
Tel:
03-5203-5510 Fax: 03-5203-5289
*..
Registered at: 1-6-20 Dojima Kitaku Osaka
.
URL: http://www.jfe-shoji.co.jp/
E-Mail address: (through the URL)
Import,
export, wholesale of steel, iron ore, chemicals, machinery, other
(Domestic)
22 locations
Korea (2), China (3), Taiwan (2), Vietnam (2), India (4), Australia (2), USA (3), India, other. (Total 34 in 18 countries)
TSUTOMU
YAJIMA, PRES Kohei Yoshioka, v
pres
Katsuyoshi
Takaya, s/mgn dir Hidehiko Ogawa,
s/mgn dir
Masaru
Saruwatari, s/mgn dir Toshihiro
Kabasawa, s/mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,321,586 M
PAYMENTSNo
Complaints CAPITAL Yen 14,539 M
TREND SLOW WORTH Yen 95,637 M
STARTED 1948 EMPLOYES 927
TRADING HOUSE, OWNED BY JFE SHOJI HOLDINGS INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
This is
a trading company belonging to JFE Shoji Holdings Inc, which was created on
01/Aug/2004 by Kawasho Corp, Kawasaki Steel group trading house. On 01/Oct/2004, Kawasho Corp and NKK Trading
Inc, NKK group trading house, merged when the two parents, Kawasaki Steel and
NKK merged to become JFE Holdings Inc.
At the same time, the group reorganized into four individual companies
under the control of JFE Shoji Holdings Inc: JFE Shoji Trade Corporation
(consolidated steel business), Kawasho Foods Corporation (foods business),
Kawasho Semiconductor Corporation (semiconductor business) and Kawasho Real
Estate Corporation (real estate business).
98% of sales are generated by the subject firm and this is the core of
the group firms. In Oct 2010 acquired of
all issued shares in Republic Coal Pty Ltd, Australia. In Jun 2010 established JV with Summit Corp
Thailand, as Steel Alliance Service Center Co Ltd, a steel processing center
mainly serving the automobile industry.
The firm was listed on the Tokyo S/E Apr 2012. The firm became a wholly-owned subsidiary of
JFE Holdings in Oct 2012 through a stock swap, and the company was delisted on
September 26, 2012.
Financials
are consolidated by the parent, JFE Shoji Holdings Inc, and only non-consolidated
financials are disclosed.
The sales volume for Mar/2014
fiscal term amounted to Yen 1,321,586 million, a 1% down from 1,334,787 million
in the previous term. The recurring
profit was posted at Yen 15,373 million and the net profit at Yen 5,535
million, respectively, compared with Yen 11,322 million recurring profit and
Yen 7,185 million net profit, respectively, a year ago.
For the
current term ending Mar 2015 the recurring profit is projected at Yen 16,000
million and the net profit at Yen 5,600 million, respectively, on a 5% rise in
turnover, to Yen 1,387,500 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Aug
2004
Regd No.: 0100-01-01-013552 (Osaka-Kitaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
115 million shares
Issued:
29 million shares
Sum: Yen 14,539 million
Major shareholders: JFE Holdings Inc* (100)
*.. Holding company formed thru business
combination between Kawasaki Steel and NKK, Tokyo, founded 2002, listed Tokyo
S/E, capital Yen 147,143 million, sales Yen 3,666,859 million, operating profit
Yen 153,327 million, recurring profit Yen 173,676 million, net profit Yen
102,382 million, total assets Yen 4,241,700 million, net worth Yen 1,702,119
million, employees 57,210, pres Hajime Bada
Nothing
detrimental is known as to the commercial morality of executives.
Activities:
Imports, exports and wholesales steel, steel products (60%), materials,
chemicals, oil & fuels (20%), machinery & equipment, others (10%)
Overseas Trading Ratio (45%)
Clients: [Mfrs, wholesalers] JFE Steel, KK
Tohsen, Okakin Corp, Mizushima Kohan Kogyo (Steel maker), Hanwa Kozai Co,
other.
No. of
accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] JFE Steel, JFE
Chemical, JFE Steel Plate, BM Alliance, BHP Billiton, Wesfarmers, Vale, Hitachi
Ltd, other.
Payment record: no
complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Osaka)
MUFG
(H/O)
Relations:
Satisfactory
(Non-Consolidated)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
1,387,500 |
1,321,586 |
1,334,787 |
1,684,271 |
|
Recur.
Profit |
|
16,000 |
15,373 |
11,322 |
11,531 |
|
Net
Profit |
|
5,600 |
5,535 |
7,185 |
9,351 |
|
Total
Assets |
|
|
382,970 |
346,446 |
413,837 |
|
Current
Assets |
|
|
267,340 |
246,359 |
317,097 |
|
Current
Liabs |
|
|
245,738 |
226,815 |
318,934 |
|
Net
Worth |
|
|
95,637 |
89,160 |
69,563 |
|
Capital,
Paid-Up |
|
|
14,539 |
14,539 |
14,539 |
|
Div.Ttl
in Million (¥) |
|
|
743 |
707 |
2,400 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.99 |
-0.99 |
-20.75 |
3.55 |
|
Current Ratio |
|
.. |
108.79 |
108.62 |
99.42 |
|
N.Worth Ratio |
|
.. |
24.97 |
25.74 |
16.81 |
|
R.Profit/Sales |
|
1.15 |
1.16 |
0.85 |
0.68 |
|
N.Profit/Sales |
|
0.40 |
0.42 |
0.54 |
0.56 |
|
Return On Equity |
|
.. |
5.79 |
8.06 |
13.44 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.