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Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
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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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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 : |
Imports, exports and wholesales steel, steel products (60%), materials,
chemicals, oil & fuels (20%), machinery & equipment, others (10%) |
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No of Employees : |
927 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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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 |
JFE SHOJI TRADE
CORPORTION
JFE Shoji KK
1-9-5 Ohtemachi Chiyodaku Tokyo 100-8070 Japan
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)
ACTIVITIES: Import, export, wholesale of steel, iron
ore, chemicals, machinery, other
BRANCHES: (Domestic) 22 locations
OVERSEAS: Korea (2), China (3), Taiwan (2), Vietnam
(2), India (4), Australia (2), USA (3), India, other. (Total
34 in 18 countries)
OFFICERS: 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
SUMMARY
FINANCES FAIR A/SALES Yen 1,321,586 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 14,539 M
TREND SLOW WORTH Yen 95,637 M
STARTED 1948 EMPLOYES 927
COMMENT: 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.
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 |
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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.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
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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 |
|
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.