|
Report Date : |
17.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
NIPPE TRADING CO LTD |
|
|
|
|
Registered Office : |
1-22-26 Esaka Suita City Osaka-Pref 564-0082 |
|
|
|
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Country : |
Japan |
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|
|
|
Financials (as on) : |
31.03.2014 |
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|
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Date of Incorporation : |
January 1976 |
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|
|
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Com. Reg. No.: |
1209-01-007746 |
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Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Imports, exports and wholesales paints raw materials (70%), paints
& coatings (16%), paint mfg equipment (5%), others (5%). |
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|
|
|
No of Employees : |
61 |
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 |
NIPPE TRADING CO
LTD
Nippe Trading KK
1-22-26 Esaka Suita City Osaka-Pref 564-0082 Japan
Tel: 06-6338-5651 Fax:
06-6338-5655
URL: http//:www.nippetrading.co.jp
E-mail: info@nippetrading.co.jp
ACTIVITIES: Import, export, wholesale of paint raw
materials, paints & coatings
BRANCHES: Tokyo, Chiba
OVERSEAS: Singapore, Thailand, Dubai, China, Korea,
USA, UK, other
OFFICER(S): KAZUYOSHI NISHIMOTO, PRES
Hup Jin Goh, v pres Kenji
Kako, dir
Atsushi Nagasaka, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 26,092 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 25 M
TREND STEADY WORTH Yen
3,388 M
STARTED 1976 EMPLOYES 61
COMMENT: TRADDING
HOUSE SPECIALIZING IN PAINTS & COATINGS, OWNED BY NIPPON PAINT CO LTD. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established on the basis of a trading division
separated from Nippon Paint Holdings Co Ltd (See REGISTRATION). This is a
trading firm specializing in import, export and wholesale of paints, paint raw
materials, paint mfg equipment, other.
Main customers are mfrs of Nippon Paint worldwide including JV’s.
The sales volume for Mar/2014 fiscal term amounted to Yen 26,092
million, a 10% up from Yen 23,680 million in the previous term. Mainline automotive paint sales were driven
by robust overseas demand. Sales of
construction-use paints also rose. The
recurring profit was posted at Yen 1,221 million and the net profit at Yen 735
million, respectively, compared with Yen 930 million recurring profit and Yen
550 million net profit, respectively, a year ago. .
For the current term ending Mar 2015 the recurring profit is projected
at Yen 1,300 million and the net profit at Yen 800 million, respectively, on a
5% rise in turnover, to Yen 27,500 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements
Date Registered: Jan
1976
Regd No.: 1209-01-007746
(Osaka-Suita)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 200,000 shares
Issued: 50,000
shares
Sum: Yen
25 million
Major shareholders
(%):
Nippon Paint Holdings Co Ltd*
(60), Nipsea Private Ltd (40)
No. of
shareholders: 2
*.. One of two largest paint mfrs, Osaka, listed Tokyo S/E, capital Yen
27,712 million, sales Yen 260,578 million, operating profit Yen 33,387 million,
recurring profit Yen 46,832 million, net profit Yen 32,156 million, total
assets Yen 322,567 million, net worth Yen 194,879 million, employees 5,755,
pres Kenji Sakai
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales paints raw materials (70%), paints & coatings (16%), paint
mfg equipment (5%), others (5%).
Clients: [Mfrs,
wholesalers] Nippon Paint Co, Nippon Bee Chemical, Nippon Paint Hambai, AS
Paint, Nippon Paint Thailand, Nippon Paint America, Nippon Paint Europe, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Nippon Paint Co, Nippon Polyurethane Ind, Nagase & Co, DIC, Nippon Bee
Chemical, Nippe Europe, other
Payment record: No Complaints
Location: Business area in
Suita City, Osaka. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (Nishi-Noda)
MUFG (Osaka-Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
27,500 |
26,092 |
23,680 |
23,437 |
|
Recur. Profit |
|
1,300 |
1,221 |
930 |
502 |
|
Net Profit |
|
800 |
735 |
550 |
293 |
|
Total Assets |
|
|
11,160 |
11,679 |
12,134 |
|
Current Assets |
|
|
10,677 |
11,212 |
12,134 |
|
Current Liabs |
|
|
7,687 |
8,666 |
9,532 |
|
Net Worth |
|
|
3,388 |
2,931 |
2,525 |
|
Capital, Paid-Up |
|
|
25 |
25 |
25 |
|
Div.Ttl in Million (¥) |
|
|
275 |
147 |
136 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.40 |
10.19 |
1.04 |
-5.36 |
|
Current Ratio |
|
.. |
138.90 |
129.38 |
127.30 |
|
N.Worth Ratio |
|
.. |
30.36 |
25.10 |
20.81 |
|
R.Profit/Sales |
|
4.73 |
4.68 |
3.93 |
2.14 |
|
N.Profit/Sales |
|
2.91 |
2.82 |
2.32 |
1.25 |
|
Return On Equity |
|
.. |
21.69 |
18.76 |
11.60 |
Notes: Forecast (or estimated) figures for the 31/03/2015 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.47 |
|
|
1 |
Rs.98.23 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.