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Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
HARADA CORPORATION |
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Registered Office : |
2-10-14 Minamisemba Chuoku |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May 1923 |
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Com. Reg. No.: |
1200-01-029640 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trading firm for import, export and wholesale of: electronics &
telecommunications-related (50%), shipbuilding/architecture-related (20%), medical
care, pharmaceutical, nursing care-related (10%), food, beverage (13%), other
(7%). (Breakdowns are all about) |
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|
|
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No of Employees : |
188 |
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 |
|
Maximum Credit Limit : |
Yen 344.0 Million |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
HARADA CORPORATION
Harada Sangyo KK
2-10-14 Minamisemba Chuoku Osaka 542-0081 Japan
Tel: 06-6244-0171
Fax: 06-6244-0157
URL: http//:www.haradacorp.co.jp
E-mail: enquiry@haradacorp.co.jp
ACTIVITIES: Import, export of semiconductors, medical,
shipbuilding, architecture, food
BRANCHES: Osaka (2), Tokyo, Kumamoto
OVERSEAS: Germany, Singapore, Taiwan, Korea,
Philippines, China (2), & Thailand;
Vietnam (JV sewing mfg company)
OFFICER(S): SATORU HARADA, PRES Hisao Harada, ch
Kazuyoshi Nohara,
mgn dir Joji Fujitsuka, dir
Chitose
Sato, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 11,502 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 300 M
TREND UP WORTH Yen 6,042 M
STARTED 1923 EMPLOYES 188
COMMENT: TRADING HOUSE. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 344.0 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Kametaro Harada in order to make most of his experience in the subject line of business. Satoshi is the fourth generation master, who took the pres office in Apr 2013. This is a trading house for import, export and wholesale of various commodities: semiconductors, shipbuilding, telecommunications, pharmaceuticals, medical care, environmental, foods, other (See OPERATION). Goods are more imported than exported. Imports from about 500 suppliers in USA, Europe, S/E Asia, other. Clients include major mfrs, electronics, wholesalers, other, nationwide.
The sales volume for Mar/2014 fiscal term amounted to Yen 11,502 million, an 8% up from 10,679 million in the previous term. Demand rose for emergency commodities, such as foods, pharmaceuticals, nursing care goods, other. Production in Vietnam increased. The recurring profit was posted at Yen 516 million and the net profit at Yen 226 million, respectively, compared with Yen 515 million recurring profit and Yen 425 million net profits, respectively, a year ago. .
For the current term ending Mar 2015 the recurring profit is projected at Yen 530 million and the net profit at Yen 240 million, respectively, on a 5% rise in turnover, to Yen 12,050 million. Business is seen steadily expanding.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 344.0 million, on 30 days normal terms.
Date Registered: May
1923
Regd No.: 1200-01-029640
(Osaka-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2.4
million shares
Issued: 600,000 shares
Sum: Yen
300 million
Major shareholders
(%):
Employees’ S/Holding Assn (19.7), Employees’ S/Holding Assn (13.5), Tokio
Marine & Nichido Fire Ins (8.3), Hisao Harada (7.8), MUFG (5.0), SMBC (5.0)
No. of
shareholders: 46
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading firm for
import, export and wholesale of: electronics & telecommunications-related
(50%), shipbuilding/architecture-related (20%), medical care, pharmaceutical,
nursing care-related (10%), food, beverage (13%), other (7%). (Breakdowns are all about)
(Handling Items):
Industrial
consumption goods: Clean room products (gloves, wipers, suits &
shoes, sanitation & maintenance supplies, masks), order-made uniforms,
safety equipment, disposable protective equipment, heat stroke prevention,
safety vests, work gloves;
Electronics &
communications: electronics control products (ionizer, plasma anomalous discharge,
monitoring system), communication equipment (fiber-optic measuring devices,
metal/network cable measuring devices, related products for offshore
equipment);
Architecture &
shipbuilding: Shipbuilding (chock fast, vacuum toilet system, push fit stainless
steel piping system, fire safe sealing for pipe penetration, heat shielding
film & coatings, adhesive-type vibration absorbing sheet), Architecture
& industrial (floor air outlets, displacement ventilation outlets,
draft-free line diffuser, residential zone air conditioning), safety protection
(autoclavable shoes, autoclabable suits, gloves);
Food mfg: hair/hygiene
control in food plants, high quality mold release oil, trennaktive, food
stabilizing agent, material management & supply system, Mondo mixer;
Medical care: welfare equipment
(wheelchairs, bedsores, walkers, seminars), medical devices (anti-smoking
clinics, DVT & thrombosis prevention, respiratory field apparatus,
obstetrics & gynecology), Pharmaceutical factories (autoclavable shoes,
autoclavable suits, gloves, other)
Clients: [Mfrs,
wholesalers] Mitsubishi Heavy Ind, IHI Marine United, JFE Steel, Sharp, NEC,
Hitachi Ltd, NTT group firms, Obayashi Corp, Toshiba Group firms, Asahi Beer,
Terumo Corp, other
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from about 500 suppliers in USA, Europe, China, other S/E
Asian countries.
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Semba & Hibiya)
SMBC (Semba)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
12,050 |
11,502 |
10,679 |
10,776 |
|
Recur. Profit |
|
530 |
516 |
515 |
464 |
|
Net Profit |
|
240 |
226 |
225 |
204 |
|
Total Assets |
|
|
13,080 |
12,396 |
11,270 |
|
Current Assets |
|
|
11,919 |
11,169 |
10,012 |
|
Current Liabs |
|
|
5,862 |
5,343 |
4,377 |
|
Net Worth |
|
|
6,042 |
5,917 |
5,764 |
|
Capital, Paid-Up |
|
|
300 |
300 |
300 |
|
Div.P.Share(¥) |
|
|
12.00 |
17.00 |
12.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.76 |
7.71 |
-0.90 |
7.62 |
|
Current Ratio |
|
.. |
203.33 |
209.04 |
228.74 |
|
N.Worth Ratio |
|
.. |
46.19 |
47.73 |
51.14 |
|
R.Profit/Sales |
|
4.40 |
4.49 |
4.82 |
4.31 |
|
N.Profit/Sales |
|
1.99 |
1.96 |
2.11 |
1.89 |
|
Return On Equity |
|
.. |
3.74 |
3.80 |
3.54 |
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.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.