|
Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOMURA SECURITIES CO LTD |
|
|
|
|
Registered Office : |
-9-1 Nihombashi Chuoku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
May 2001 |
|
|
|
|
Com. Reg. No.: |
0100-01-074037 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Subject is a Securities Firm: Commissions (59%), Gain/Loss
on Trading (33%), Financial Income (8%) |
|
|
|
|
No of Employees : |
12,926 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
Yen 4,312.5 Million |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
NOMURA SECURITIES
CO LTD
Nomura Shoken KK
-9-1 Nihombashi Chuoku Tokyo 103-0027 Japan
Tel: 03-3211-1811 Fax:
03-3278-0687
URL: http://www.nomura.co.jp
E-Mail address: (thru
the URL)
ACTIVITIES: Securities firm
BRANCHES: 159 nationwide
OVERSEAS: USA, Europe, Asia, China, other
OFFICERS: KOJI NAGAI, PRES Nobuyuki Koga, ch
Atsushi
Yoshikawa, rep dir Masahiro
Sakane, dir
Mutsuo
Kusakari, dir Aki Fujinuma,
dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 816,205 M
PAYMENTS REGULAR CAPITAL Yen
10,000 M
TREND UP WORTH Yen 1,037,168 M
STARTED 2001 EMPLOYES 12,926
COMMENT: SECURITIES FIRM. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS. MAX CREDIT
LIMIT: ESTIMATED AT YEN 4,312.5 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established originally in 1925 thru separation of securities division of old Osaka Nomura Bank. In Oct 2001, founded a holding company, Nomura Holdings Inc and went under the Holding Company. This is a securities firm, boasting largest number of net dealing accounts.
The sales volume for Mar/2014 fiscal term amounted to Yen 816,205 million, a 23% up from Yen 662,450 million in the previous term. Stock brokerage commissions grew steadily. Trust fee income rose. IPOs went stably. The recurring profit was posted at Yen 251,923 million and the net profit at Yen 158,766 million, respectively, compared with Yen 138,497 million recurring profit and Yen 88,171 million net profit, respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected at Yen 260,000 million and the net profit at Yen 170,000 million, respectively, on a 10% rise in turnover, to Yen 895,000 million. IPOs and capital increase projects will fare well. In overseas markets, US operations will grow.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 4,312.5 million, on 30 days normal terms.
Date
Registered: May 2001
Regd
No.: 0100-01-074037
(Tokyo-Chuoku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued:
201,000 shares
Sum: Yen
1,000 million
Major
shareholders (%): Nomura
Holdings Inc* (100)
*.. Holding company of Nomura Group firms,
Tokyo, founded 2001, listed Tokyo, Nagoya, Singapore, New York S/E’s, capital
Yen 594,493 million, revenues Yen 1,831,844 million, recurring profit Yen
361,614 million, net profit Yen 213,591 million, total assets Yen 43,520,314
million, net worth Yen 2,513,520 million, employees 27,670, pres Koji Nagai Yen
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Securities firm: Commissions (59%), gain/loss on trading (33%), financial
income (8%)
Clients:
Banks, financial institutions, life insurance companies, individual investors,
other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Nomura Research Institute, Nomura Business Service, other
Payment
record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactory.
Bank
References:
SMBC (H/O)
MUFG (H/O)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
895,000 |
816,205 |
662,450 |
580,271 |
|
Recur. Profit |
|
260,000 |
251,923 |
138,497 |
57,163 |
|
Net Profit |
|
170,000 |
158,766 |
88,171 |
27,316 |
|
Total Assets |
|
|
12,556,123 |
10,258,521 |
10,439,204 |
|
Current Assets |
|
|
12,488,887 |
10,161,427 |
10,348,321 |
|
Current Liabs |
|
|
10,362,347 |
8,478,265 |
8,538,324 |
|
Net Worth |
|
|
1,037,168 |
966,052 |
901,990 |
|
Capital, Paid-Up |
|
|
10,000 |
10,000 |
10,000 |
|
Div.P.Share(¥) |
|
|
993,000 |
422,000 |
130,000 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
9.65 |
23.21 |
14.16 |
-5.40 |
|
Current Ratio |
|
.. |
120.52 |
119.85 |
121.20 |
|
N.Worth Ratio |
|
.. |
8.26 |
9.42 |
8.64 |
|
R.Profit/Sales |
|
29.05 |
30.87 |
20.91 |
9.85 |
|
N.Profit/Sales |
|
18.99 |
19.45 |
13.31 |
4.71 |
|
Return On Equity |
|
.. |
15.31 |
9.13 |
3.03 |
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.