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Report Date : |
11.09.2014 |
IDENTIFICATION DETAILS
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Name : |
SHINOHARA CO LTD |
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Registered Office : |
5-13-2 Shimoshakujii Nerimaku |
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Country : |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
December 1980 |
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Com. Reg. No.: |
0116-01-003085 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacture of precut timber,
wood building materials, wood panels, other |
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No. of Employees : |
145 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
SHINOHARA CO LTD
REGD NAME: KK
Shinohara Shoten
MAIN OFFICE: 5-13-2
Shimoshakujii Nerimaku Tokyo 177-0042 JAPAN
Tel: 03-3995-7288
Fax: 03-3995-4588
URL: http://www.shinoharashoten.com
E-Mail
address: info@shinoharashoten.com
Mfg of
precut timber, wood building materials, wood panels, other
Nil
Honjo
(Saitama-Pref) (2)
KATSUO
SHINOHARA, PRES
Takahiro
Machida, mgn dir
Yuichiro
Shinohara, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 7,928 M
PAYMENTSno
complaints CAPITAL Yen 97 M
TREND UP WORTH Yen 845 M
STARTED 1980 EMPLOYES 145
MFR OF PRECUT TIMBER, BUILDING MATERIALS, WOOD PANELS, ETC.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Katsuo Shinohara in order to make most of his
experience in the subject line of business.
Specializes in mfg & processing precut timber, wood building
materials, wood panels, other. Material
woods are imported. Clients include
house builders, construction firms, building materials makers, other.
Financial
are only partially disclosed.
The sales volume for Sept/2013
fiscal term amounted to Yen 7,928 million, an 11% up from Yen 7,163 million in
the previous term. Demand for building
materials rose, particularly for emergency house buildings after the Great
North Japan Earthquake, the tendency continued. The net profit was posted at Yen 67 million,
compared with Yen 72 million a year ago.
For the
current term ending Sept 2014 the net profit is projected at Yen 75 million, on
a 5% rise in turnover, to Yen 8,300 million.
Business is seen steadily expanding.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Dec 1980
Regd No.: 0116-01-003085 (Tokyo-Nerimaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
776,000 shares
Issued:
194,000 shares
Sum: Yen 97 million
Major shareholders (%): Katsuo Shinohara (55), Yuichiro
Shinohara (13),
Employees’ S/Holding Assn (13),
Toako Shinohara (13), Aki Shinohara (5)
No. of shareholders: 17
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures and processes precut
timber, wood building materials, wood panels, others (--100%)
Clients: [House builders, construction firms]
Eyeful Home Technology, Next Co, Yoshisada Co, Benichu Co, Motohashi Koumuten,
Ishin Holdings, LIXIL Group, Nice Corp, Sojitz Building Materials Corp, Itochu
Kenzai Corp, Sumitomo & Mitsui Bussan Kenzai Co, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sojitz Building
Materials, Itochu Kenzai, Next
Co, Sumitomo Forestry, SFE
Building Materials (China), Sumitomo & Mitsui Bussan Kenzai, other
Payment record: No
complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Tokyo
Tomin Bank (Kamishakujii)
Resona
Bank (Shakujii)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
Annual
Sales |
|
8,300 |
7,928 |
7,163 |
6,993 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
75 |
67 |
72 |
48 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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|
845 |
798 |
748 |
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Capital,
Paid-Up |
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|
97 |
97 |
97 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.69 |
10.68 |
2.43 |
23.64 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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|
.. |
.. |
.. |
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N.Profit/Sales |
|
0.90 |
0.85 |
1.01 |
0.69 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.82 |
|
|
1 |
Rs.98.14 |
|
Euro |
1 |
Rs.78.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
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-- |
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.