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Report Date : |
27.09.2014 |
IDENTIFICATION DETAILS
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Name : |
NIIGATA SHIRYO CO LTD |
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Registered Office : |
2199-10 Yokodoi Kitaku |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
June, 1972 |
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Com. Reg. No.: |
1100-01-003915 (Niigata-Kitaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of pasture, formula feed |
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No. of Employees : |
40 |
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 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 |
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High |
B2 |
|
Very High |
C1 |
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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 |
NIIGATA SHIRYO CO
LTD
REGD NAME: KK Niigata Shiryo
MAIN OFFICE: 2199-10 Yokodoi Kitaku
Tel: 025-255-3191 Fax:
025-255-3195
URL: http://www.niigata-shiryo.co.jp
E-Mail address: (thru the URL)
Import, wholesale of pasture, formula feed
Nil
USA, China, Korea (JV companies)
YUTAKA HOSHINO, PRES Yusuke Hirose, v pres
Ayumi Hirose, dir Ikuko Watanabe, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 8,742 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 1,196 M
STARTED 1972 EMPLOYES 40
TRADING FIRM SPECIALIZING IN ASSORTED FEED.
FINANCIAL SITUATION CONSIDERED FAIR TO GOOD
AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by T
Hirose in order to make most of his experience in the subject line of
business. This is a trading firm, owned
by the Hirose family, for import and wholesale of pasture, formula feed,
other. Goods are imported from its JF
firms in USA, China and Korea. Clients
include Agricultural Coops, wholesalers, dairy farmers, other.
The sales volume for Mar/2014 fiscal term
amounted to Yen 8,742 million, a 2% up from Yen 8,584 million in the previous
term. The recurring profit was posted at
Yen 486 million and the net profit at Yen 288 million, respectively, compared
with Yen 191 million recurring profit and Yen 113 million net profit,
respectively, a year ago.
For the current term ending Mar 2015 the
recurring profit is projected at Yen 500 million and the net profit at Yen 300
million, respectively, on a 3% rise in turnover, to Yen 9,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR
to GOOD and responsible for ORDINARY business engagements.
Date
Registered: Jun 1972
Regd
No.: 1100-01-003915
(Niigata-Kitaku)
Legal
Status:
Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued:
20,000 shares
Sum:
Yen
10 million
Major
shareholders (%): Seisaku Hirose (41),
Yusuke Hirose (37), Aya Hirose (14), Yutaka Hoshino (1)
No.
of shareholders: 7
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports and
wholesales pastures (80%), assorted feed, others (--20%)
Clients: [Mfrs,
wholesalers] Zen-Noh, Zen-Noh Feed Mills of the Tohoku Co Ltd, Zen-Noh Niigata,
Yuasa Trading Co, Niigata Kenbei Co, other
No. of accounts: 300
Domestic areas of activities: Centered in
Niigata-Pref & vicinities
Suppliers: [Mfrs, wholesalers]
ACX Trading, Anderson Hay & gray, Sumitomo Corp, Toyota Tsusho Corp, Sojitz
Corp, Kanematsu Corp, other
Payment
record: No Complaints
Location: Business area in
Niigata. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Mizuho Bank (Niigata)
Daishin Bank (Matsuhama)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
9,000 |
8,742 |
8,584 |
6,548 |
|
Recur. Profit |
|
500 |
486 |
191 |
106 |
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Net Profit |
|
300 |
288 |
113 |
55 |
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Total Assets |
|
|
6,321 |
6,287 |
4,763 |
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Current Assets |
|
|
5,508 |
5,487 |
3,949 |
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Current Liabs |
|
|
3,894 |
4,129 |
2,389 |
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Net Worth |
|
|
1,196 |
907 |
793 |
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Capital, Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.95 |
1.84 |
31.09 |
8.92 |
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Current Ratio |
|
.. |
141.45 |
132.89 |
165.30 |
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N.Worth Ratio |
|
.. |
18.92 |
14.43 |
16.65 |
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R.Profit/Sales |
|
5.56 |
5.56 |
2.23 |
1.62 |
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N.Profit/Sales |
|
3.33 |
3.29 |
1.32 |
0.84 |
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Return On Equity |
|
.. |
24.08 |
12.46 |
6.94 |
Notes: Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
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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 |
-- |
|
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.