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Report No. : |
312314.2 |
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Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
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Name : |
ISHIGURO CORPORATION |
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Registered Office : |
KDX Hachobori Bldg, 4-5-8 Hachobori, Chuo-ku, Tokyo 104-0032 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2014 |
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Date of Incorporation : |
May 1950 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Limited Company |
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Line of Business : |
Ishiguro has three principal business segments, Plant, Building
Equipment and General Industry. |
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No. of Employees : |
666 |
RATING & COMMENTS
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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 : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
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 |
ISHIGURO
CORPORATION
Ishiguro KK
KDX Hachobori Bldg, 4-5-8 Hachobori, Chuo-ku, Tokyo 104-0032 JAPAN
Tel: 03-3552-2177 Fax:
03-3553-3925
URL: http://www.ishiguro-gr.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Wholesale and import of valves, piping
materials
BRANCHES: Sapporo, Sendai, Kooriyama, Niigata,
Isezaki, Chiba, Nagoyo, other (Tot 40)
OVERSEAS: None
FACTORIES: None
CHIEF EXECUTIVE: KATSUJI ISHIGURO, PRES
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 44,234 M* (2013 result)
PAYMENTS NO COMPLAINTS CAPITAL Yen 100 M
TREND STABLE WORTH Yen 8,148 M (2013 result)
STARTED 1950 EMPLOYES 666
*Public information available as of 27th March 2015 is that
of 2013 fiscal year.
COMMENT: THE FIRM SPECIALIZING IN WHOLESALE &
IMPORT OF VALVES, PIPING MATERIALS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
ISHIGURO Corp. is a wholesale piping material distributor established in 1939.
The products they deal with, such as valves, pipes and fittings are used in skyscrapers and plants, as well as for water faucets or other familiar facilities.
They are also making use of our nationwide sales network to provide timely and reliable services.
It has just started new operation as an importer of OEM Products.
Financials are disclosed only partially.
Only available data as of 27th March 2015 is figures 2013. Below numbers related 2014 & 2015 are
estimates.
The sales volume for April /2014 fiscal term amounted to Yen 45,119
million, a 2% up from Yen 44,234 million in the previous term. The recurring profit was posted at Yen 1,709
million and the net profit at Yen 513 million, respectively, compared with Yen 1,675
million recurring profit and Yen 503 million net profit, respectively, a year
ago.
For the current term ending April 2015 the recurring profit is projected
at Yen 1,743 million and the net profit at Yen 523 million, respectively, on a
2% rise in turnover, to Yen 46,021 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May
1950
Regd No.: Unavailable
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: Unavailable
Issued:
4 .7million
shares
Sum: Yen
100 million
Major shareholders
(%): Ishiguro Holdings( 100%)
No. of shareholders: 1
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Ishiguro has
three principal business segments, Plant, Building Equipment and General
Industry.
Plant:
A large amount of piping materials are used in plants, including petrochemical plants. Supports customers’ select and provide proper products based on its expertise accumulated over years in its special divisions.
Building Equipment:
Thy satisfy various needs from the construction field, covering from skyscrapers
and regional air-conditioning system to toilets and water faucets in
conventional homes.
General Industry:
They are also handling materials for the general industry field, such as
semi-conductors, machinery, rubber, food and chemicals.
Clients: [Mfrs,
wholesalers] Shin Nippon Air Technologies, Shinryo Corp, Takasago Thermal
Engineering, Dai-Dan Co, Sanki Engineering, Taikisha Ltd, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kitz Corp, Toyo-Valve Co, Venn Corp, Sumikin Bussan Co, Yodoshi
Co, Mie Techno com, Kyosei Co, Tak Manufacturing Co, Lixil, Nikko Com, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
MUFG (Yaesudori)
MIZUHO BANK (Marunoutichuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/04/2015 |
30/04/2014 |
30/04/2013 |
30/04/2012 |
|
|
Annual Sales |
|
46,021 |
45,119 |
44,234 |
43,087 |
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Recur. Profit |
|
1,743 |
1,709 |
1,675 |
1,810 |
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Net Profit |
|
523 |
513 |
503 |
1,018 |
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Total Assets |
|
31,686 |
31,065 |
30,456 |
n/a |
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Current Assets |
|
n/a |
n/a |
n/a |
n/a |
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Current Liabs |
|
n/a |
n/a |
n/a |
n/a |
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Net Worth |
|
9,184 |
8,661 |
8,148 |
n/a |
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Capital, Paid-Up |
|
n/a |
n/a |
n/a |
n/a |
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Div.P.Share(¥) |
|
n/a |
n/a |
n/a |
n/a |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.00 |
2.00 |
2.66 |
.. |
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Current Ratio |
|
.. |
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
27.88 |
26.75 |
.. |
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R.Profit/Sales |
|
3.79 |
3.79 |
3.79 |
4.20 |
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N.Profit/Sales |
|
1.14 |
1.14 |
1.14 |
2.36 |
|
Return On Equity |
|
.. |
.. |
.. |
.. |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/04/2014 and 2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.45 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.