|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
HOWA SHOJI CO LTD |
|
|
|
|
Registered Office : |
Hagoromo Bldg 6F, 1-5-2 Hatchobori Chuoku Tokyo 104-0032 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.10.2013 |
|
|
|
|
Date of Incorporation : |
November 1987 |
|
|
|
|
Com. Reg. No.: |
0100-01-056922 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, export, wholesale of
soya beans, salt, other |
|
|
|
|
No. of Employees : |
26 |
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 65.7 Million |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but correct |
|
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 |
HOWA SHOJI CO LTD
REGD NAME: Howa
Shoji KK
MAIN OFFICE: Hagoromo
Bldg 6F, 1-5-2 Hatchobori Chuoku Tokyo 104-0032 JAPAN
Tel:
03-3297-0571 Fax: 03-3297-0575
E-Mail
address: (thru the URL)
Import,
export, wholesale of soya beans, salt, other
Nagoya
Nagoya
TOSHIAKI
OMOTE, PRES Hirokazu Omote, v
pres
Naotoshi
Omote, s/mgn dir Kiyoshi Komitsu,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,550 M
PAYMENTSSLOW
BUT CORRECT CAPITAL Yen 65 M
TREND UP WORTH Yen 1,270 M
STARTED 1987 EMPLOYES 26
TRADING FIRM SPECIALIZING IN
BEANS, CEREALS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: ESTIMATED AT YEN 65.7 MILLION, ON 30 DAYS
NORMAL TERMS.
The subject
company was established by Toshiaki Omote in order to make most of his
experience in the subject line of business.
This is a trading firm for import, export and wholesale of soybeans,
rice, cereals, salt, other foodstuffs.
Imported mostly thru general trading houses.
Financials
are only partially disclosed.
The sales volume for Oct/2013 fiscal
term amounted to Yen 3,550 million, a 14% up from Yen 3,123 million in the
previous term. The net profit was posted
at Yen 85 million, compared with Yen 57 million net losses a year ago
For the
current term ending Oct 2014 the net profit is projected at Yen 100 million, on
a 6% rise in turnover, to Yen 3,750 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 65.7 million, on 30 days normal terms.
Date Registered: Nov 1987
Regd No.: 0100-01-056922 (Tokyo-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
520,000 shares
Issued:
130,000 shares
Sum: Yen 65 million
Major shareholders (%): Tokyo Small & Medium
Business Promotion & Investment Association (38), Employees’ S/Holding Assn
(11), Kanematsu Corp (6),
No. of shareholders: 35
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales soy
beans (73%), other beans (15%), salt, other foodstuffs (12%)
Clients: [Mfrs, wholesalers] Asahimatsu Foods,
Azuma Corporation, Toraya, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sojitz Corp,
Kanematsu Corp, Taiyo Trading, other
Payment record: Slow
But Correct
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactory.
Bank References:
MUFG
(Shintomicho)
SMBC
(Nihombashi-Higashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/10/2014 |
31/10/2013 |
31/10/2012 |
31/10/2011 |
|
Annual
Sales |
|
3,750 |
3,550 |
3,123 |
3,143 |
|
Recur.
Profit |
|
.. |
.. |
.. |
-28 |
|
Net
Profit |
|
100 |
85 |
-57 |
-24 |
|
Total
Assets |
|
|
N/A |
N/A |
1,941 |
|
Net
Worth |
|
|
1,270 |
1,185 |
1,242 |
|
Capital,
Paid-Up |
|
|
65 |
65 |
65 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.63 |
13.67 |
-0.64 |
20.10 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
63.99 |
|
N.Profit/Sales |
|
2.67 |
2.39 |
-1.83 |
-0.76 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/10/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.