MIRA
INFORM REPORT
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Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
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Name : |
SHIKOKU CONSTRUCTION EQUIPMENT SALES LTD |
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Registered Office : |
6-10-1 Kukodori Matsuyama Ehime-Pref 791-0054 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
March 1966 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of construction
machinery & equipment |
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No. of Employees |
136 |
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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Maximum Credit Limit : |
Yen 116.4 million |
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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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 |
Company name and address
SHIKOKU
CONSTRUCTION EQUIPMENT SALES LTD
REGD
NAME: Shikoku Kensetsu Kikai Hanbai
KK
MAIN
OFFICE: 6-10-1 Kukodori Matsuyama
Ehime-Pref 791-0054 JAPAN
Tel: 089-972-1481 Fax: 089-973-1760
*.. The is its Kochi Branch Office
URL: http://www.shikoku-kenpan.com
E-Mail address: (thru the URL)
ACTIVITIES
Import, export, wholesale of construction
machinery & equipment
BRANCHES
Ehime, Kochi, Tokushima, other (Tot 11)
FACTORIES
Ehime (repair shop)
OFFICERS
YOSHIHIRO NAGANO, PRES Masahiko Nagano, ch
Yasushi Kondo, v pres Shizuo Urabe, dir
Toru Hirose, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,421 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 792 M
STARTED 1966 EMPLOYES 136
COMMENT
TRADING FIRM SPECIALIZING IN CONSTRUCTION
MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 116.4
MILLION, ON 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by
Masahiko Nagano in order to make most of his experience in the subject line of
business. Yoshihiro is his son, who took
the pres office in Jun 2013. This is a
trading firm for import, export and wholesale of construction machinery &
equipment, other (See OPERATION).
FINANCIAL INFORMATION
Financials are disclosed only partially.
The sales volume for Mar/2014 fiscal term
amounted to Yen 6,421 million, a 40% up from Yen 4,588 million in the previous
term. Sales rose unexpectedly. Repairing & maintenance works increased. The net profit was posted at Yen 91 million,
compared with Yen 26 million a year ago.
For the current term ending Mar 2014 the net
profit is projected at Yen 95 million, on a 4% rise in turnover, to Yen 6,650
million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 116.4 million, on 30 days normal
terms.
REGISTRATION
Date
Registered: Mar 1966
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum:
Yen 100 million
Major
shareholders (%): Masahiko Nagano (21), Yoshihiro Nagano (20), other
No.
of shareholders: 19
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales construction machinery & equipment: hydraulic shovels,
bulldozers, wheel loaders, transportation equipment, road pavers, other,
offering repair & maintenance services (--100%)
Clients: [Mfrs,
wholesalers] Wazumi Kogyo, Ohno Associates, Nittetsu Mining Co, Sumitomo Osaka
Cement, other
No. of accounts: 300
Domestic areas of activities: Centered in
Shikoku
Suppliers: [Mfrs,
wholesalers] Caterpillar Japan (90%), Caterpillar Solution Engineering, Toyo
Tire Japan, other
Payment
record: Regular
Location: Business area in
Ehime. Office premises at the caption
address are owned and maintained satisfactory.
Bank
References:
Iyo Bank (H/O)
Shikoku Bank (Matsuyama)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
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6,650 |
6,421 |
4,588 |
4,301 |
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Recur.
Profit |
|
.. |
.. |
31 |
77 |
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Net
Profit |
|
95 |
91 |
26 |
57 |
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Total
Assets |
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N/A |
5,124 |
4,975 |
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Net
Worth |
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|
792 |
729 |
712 |
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Capital,
Paid-Up |
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|
100 |
100 |
100 |
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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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(%) |
(%) |
(%) |
(%) |
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S.Growth
Rate |
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3.57 |
39.95 |
6.67 |
-1.83 |
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Current
Ratio |
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.. |
.. |
.. |
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N.Worth
Ratio |
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.. |
14.23 |
14.31 |
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N.Profit/Sales |
|
1.43 |
1.42 |
0.57 |
1.33 |
Notes: Financials are only partially
disclosed.
Forecast (or estimated) figures for the
31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.92 |
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UK Pound |
1 |
Rs.98.66 |
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Euro |
1 |
Rs.78.34 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
SDA |
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.