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Report Date : |
31.10.2014 |
IDENTIFICATION DETAILS
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Name : |
INDUSTRIAL SERVICES INTERNATIONAL CO LTD |
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Registered Office : |
4-2-7 Iwaya-Nakamachi Nadaku Kobe 657-0845 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1991 |
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Com. Reg. No.: |
1400-01-003032 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export of iron & steel plants machinery/equipment/spare
parts |
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No. of Employees : |
76 |
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 47.6 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) |
|
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 |
INDUSTRIAL SERVICES INTERNATIONAL CO LTD
REGD NAME: KK
Industrial Services International
MAIN OFFICE: 4-2-7
Iwaya-Nakamachi Nadaku Kobe 657-0845 JAPAN
Tel:
078-261-7300 Fax: 078-261-7315
URL: http://www.kobelco-ist.com
E-Mail address: (thru the URL)
Import, export of
iron & steel plants machinery/equipment/spare parts, other
Nil
JUN JIMPO, PRES
Koichi Akasaka,
mgn dir
Yuji Ishikawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,654 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 30 M
TREND UP WORTH Yen 439 M
STARTED 1991 EMPLOYES 76
TRADING FIRM SPECIALIZING STEEL PLANT
MACHINERY & EQUIPMENT,
OWNED BY KOBE STEEL LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 47.6 MILLION, ON 30 DAYS
NORMAL TERMS.
The subject company was established on the basis of separation of Plant
Service Department of Engineering & Machinery Service of Kobe Steel Ltd
(See REGISTRATION). This is a trading firm for import and export
of equipment, machinery, spare parts and consumables for iron & steel
plants and other industrial plants.
Exports to over 25 countries in Asia, Mid East, Africa, Europe,
other. Exporting goods are supplied by
the parent.
The sales volume for Mar/2014 fiscal term amounted to Yen 3,654 million,
an 8% up from Yen 3,390 million in the previous term. The weaker Yen aided to raise export revenues
in Yen terms. The recurring profit was
posted at Yen 368 million and the net profit at Yen 222 million, respectively,
compared with Yen 146 million net profit a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 390 million and the net profit at Yen 240 million, respectively, on a 5%
rise in turnover, to Yen 3,850 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 47.6 million, on 30 days normal terms.
Date Registered: Apr
1991
Regd No.:
1400-01-003032 (Kobe-Nadaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,400 shares
Issued: 600 shares
Sum: Yen 30 million
Major
shareholders (%): Kobe Steel Ltd* (100)
*.. One of leading steelmakers,
Kobe, founded 1911, listed Tokyo, Nagoya S/E’s, capital Yen 250,930 million,
sales Yen 1,824,698 million, operating profit Yen 114,548 million, recurring
profit Yen 85,044 million, net profit Yen 70,191 million, total assets Yen
2,251,363 million, net worth Yen 688,799 million, employees 36,019, pres Hiroya
Kawasaki.
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of equipment, machinery, spare parts and
consumables for steel & iron plants and other industrial plants, project
management, supporting activities for overseas marketing & procurement,
other (--100%)
Clients: [Mfrs,
wholesalers] Kobe Steel Ltd (18.6%), other
Exports to over 25 countries in Asia, Mid
East, Africa, Turkey, Venezuela, other
No. of accounts:
50
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kobe Steel Ltd, Shinko Metal Products Co, Terasaki Electric Co,
Hyogo Seisakusho Co, Cosmo Equipment, other
Payment record: No complaints
Location: Business area in
Kobe. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
SMBC (Kobe)
MUFG (Kobe)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
3,850 |
3,654 |
3,390 |
2,880 |
|
Recur.
Profit |
|
390 |
368 |
|
|
|
Net
Profit |
|
240 |
222 |
146 |
36 |
|
Total
Assets |
|
|
2,430 |
1,607 |
1,024 |
|
Current
Assets |
|
|
2,354 |
1,547 |
963 |
|
Current
Liabs |
|
|
1,936 |
974 |
513 |
|
Net
Worth |
|
|
439 |
591 |
473 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.Ttl
in Million (¥) |
|
|
166 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.36 |
7.79 |
17.71 |
-28.54 |
|
Current Ratio |
|
.. |
121.59 |
158.83 |
187.72 |
|
N.Worth Ratio |
|
.. |
18.07 |
36.78 |
46.19 |
|
R.Profit/Sales |
|
10.13 |
10.07 |
.. |
.. |
|
N.Profit/Sales |
|
6.23 |
6.08 |
4.31 |
1.25 |
|
Return On Equity |
|
.. |
50.57 |
24.70 |
7.61 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.98.21 |
|
Euro |
1 |
Rs.77.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
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|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
|
>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 |
|
|
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 |
-- |
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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.