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Report Date : |
19.09.2014 |
IDENTIFICATION DETAILS
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Name : |
UNIPLAS CORPORATION |
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Registered Office : |
Shizuka Bldg 4F, 2-7-4 Utsubo-Honmachi
Nishiku |
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Country : |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
July 1963 |
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Com. Reg. No.: |
048235 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of mono-filament, synthetic resin, machinery |
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No. of Employees |
22 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Slow but correct |
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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 |
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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 |
UNIPLAS CORPORATION
REGD NAME: Uniplas
KK
MAIN OFFICE: Shizuka
Bldg 4F, 2-7-4 Utsubo-Honmachi Nishiku
Tel:
06-6443-2371 Fax: 06-6443-9112
E-Mail address: info@uniplas.co.jp
Import, export,
wholesale of mono-filament, synthetic resin, machinery
Shiga
Singapore
Uniplas Shiga Co
Ltd (subsidiary)
TAKANORI IKUSHIMA,
PRES
Takao Ikushima,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR SALES
Yen 3,096 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 20 M
TREND SLOW WORTH Yen 207 M
STARTED 1963 EMPLOYES 22
TRADING FIRM SPECIALIZING IN MONO FILAMENT, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Takao Ikushima in order to make
most of his experience in the subject line of business. Takanori is his son. This is a trading firm specializing in
importing, exporting and wholesaling mono-filament, synthetic resin, industrial
machinery, other. Has two subsidiaries:
Uniplas Shiga Co Ltd (mfg) and Uniplas Machinery Co Ltd (wholesaling). Goods are exported more than imported.
Financials are only partially disclosed.
The sales volume for Jun/2012 fiscal term amounted to Yen 3,096 million,
a 10% down from Yen 3,450 million in the previous term. Exports were hurt by the high Yen, reducing
revenues in Yen terms. The net profit
was posted at Yen 59 million, compared with Yen 30 million a year ago. Some extraordinary profits are included in the
profits this term.
For the current term ending Jun 2013 the net profit is projected at Yen
60 million, on a 3% rise in turnover, to Yen 3,200 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jul
1963
Regd No.:
(Osaka-Nishiku) 048235
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued: 40,000 shares
Sum: Yen 20 million
Major
shareholders (%): Takao Ikushima (30), Takanori Ikushima (24), Takao Maki (3), other
No. of shareholders: 12
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales mono-filament, synthetic resins, industrial machinery, other
(--100%).
Clients: [Mfrs,
wholesalers] Ube Industrial, Sekisui Seikei Co, Gunze Ltd, Uniplas Shiga, YGK
Corp, other.
Exports to: Malaysia, China, Indonesia,
Taiwan, Egypt, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Uniplas Machinery (65%), Mitsubishi Engineering Plastics, Asagoe
Machine Mfg Co, Ube Industrial, other
Payment record: Slow but correct
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Bank of Nagoya
(Osaka)
Mizuho Bank
(Dojima)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
|
30/06/2014 |
30/06/2013 |
30/06/2012 |
30/06/2011 |
|
Annual
Sales |
|
4,300 |
4,028 |
3,096 |
3,450 |
|
Recur.
Profit |
|
320 |
307 |
.. |
.. |
|
Net
Profit |
|
20 |
10 |
59 |
30 |
|
Total
Assets |
|
|
2,079 |
N/A |
N/A |
|
Net
Worth |
|
|
316 |
309 |
267 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
6.75 |
30.10 |
-10.26 |
28.73 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
15.20 |
.. |
.. |
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N.Profit/Sales |
|
0.47 |
0.25 |
1.91 |
0.87 |
Notes: Financials
are only disclosed until the 30/06/2013 fiscal term.
Forecast (or
estimated) figures for the 30/06/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.05 |
|
|
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.78.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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 |
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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 |
|
|
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 |
|
|
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.