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Report No. : |
315384 |
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Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
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Name : |
NICHINO RYOKKA CO LTD |
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Registered Office : |
Okaya Bldg 6F, 14-4 Nihombashi-Kodenmacho Chuoku Tokyo 103-0001 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
June 1974 |
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Com. Reg. No.: |
0100-01-053710 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trading firm for import, export and wholesale of: agro chemicals,
fertilizers, landscaping supplies, turfs, insecticides, herbicides,
germicides, gardening supplies, landscape architecture, other (--100%) |
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No. of Employees : |
38 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
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.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused the economy to
contract during the 2nd and 3rd quarters of 2014. The economy has largely
recovered in the three years since the disaster, but reconstruction in the
Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a longstanding debate on
restructuring the economy and reining in Japan's huge government debt, which
amounts to more than 240% 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 2015, although the government in 2014 decided to postpone the
final phase of the increase until 2017 to give the economy time to recover from
the 2014 increase. 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.
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Source
: CIA |
NICHINO RYOKKA CO
LTD
KK Nichino Ryokka
Okaya Bldg 6F, 14-4 Nihombashi-Kodenmacho Chuoku Tokyo 103-0001 JAPAN
Tel: 03-3808-2281 Fax:
03-3808-2360
URL: http://www.nichino-ryokka.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Wholesale of agricultural fertilizer,
turfs, landscape architecture
BRANCHES: Osaka, Chiba
OVERSEAS: China
FACTORIES: (consigned)
OFFICERS: TETSUSHIRO SAKAI, PRES Hiroyuki Nakashima, ch
Hiroshi Tomomi,
mgn dir Tojin
Nagai, dir
Yosuke
Tomoi, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,544 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 160 M
TREND STEADY WORTH
Yen 913 M
STARTED 1974 EMPLOYES 38
COMMENT: TRADING FIRM SPECIALIZING IN FERTILIZER,
LANDSCAPING SUPPLIES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by Nihon Nohyaku Co Ltd as a trading
division for handling agricultural chemicals, fertilizers, landscaping
supplies, insecticides, herbicides, landscaping works, other.
The sales volume for Sept/2014 fiscal term amounted to Yen 1,544 million, a 1% down from Yen 1,564 million in the previous term. The recurring profit was posted at Yen 23 million and the net profit at Yen 10 million, respectively, compared with Yen 12 million recurring profit and Yen 2 million net profit, respectively, a year ago.
For the current term ending Sept 2015 the recurring profit is projected at Yen 30 million and the net profit at Yen 20 million, respectively, on a 7% rise in turnover, to Yen 1,650 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jun
1974
Regd No.: 0100-01-053710
(Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.28 million shares
Issued:
320,000 shares
Sum: Yen
160 million
Major shareholders
(%): Nihon Nohyaku Co Ltd* (100)
*.. Specialized mfr of agrochemicals, Tokyo, founded 1926, listed Tokyo
S/E, capital Yen 10,939 million, sales Yen 56,696 million, operating profit
Yen 9,407 million, recurring profit Yen
9,361 million, net profit Yen 6,137 million, total assets Yen 70,999 million,
net worth Yen 45,058 million,
employees 731, pres Yoichi Koyama
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading firm for
import, export and wholesale of: agro chemicals, fertilizers, landscaping
supplies, turfs, insecticides, herbicides, germicides, gardening supplies,
landscape architecture, other (--100%)
Clients: [Mfrs,
wholesalers] Toyo Green Inc (20%), Konishiyasu Co (20%), municipal offices,
other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nihon Nohyaku Co, Ishihara Bio-Science, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Mizuho Bank (Nihombashi)
Resona Bank (Senri-Chuo)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
30/09/2015 |
30/09/2014 |
30/09/2013 |
30/09/2012 |
|
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Annual Sales |
|
1,650 |
1,544 |
1,564 |
1,672 |
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Recur. Profit |
|
30 |
23 |
12 |
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Net Profit |
|
20 |
10 |
2 |
15 |
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Total Assets |
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1,550 |
1,524 |
1,603 |
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Current Assets |
|
|
1,337 |
1,328 |
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Current Liabs |
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|
429 |
424 |
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Net Worth |
|
|
913 |
903 |
909 |
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Capital, Paid-Up |
|
|
160 |
160 |
160 |
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Div.Ttl in Million (¥) |
|
|
0.00 |
8 |
8 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
6.87 |
-1.28 |
-6.46 |
1.03 |
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Current Ratio |
|
.. |
311.66 |
313.21 |
.. |
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N.Worth Ratio |
|
.. |
58.90 |
59.25 |
56.71 |
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R.Profit/Sales |
|
1.82 |
1.49 |
0.77 |
.. |
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N.Profit/Sales |
|
1.21 |
0.65 |
0.13 |
0.90 |
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Return On Equity |
|
.. |
1.10 |
0.22 |
1.65 |
Notes: Forecast (or estimated) figures for the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
|
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.55 |
INFORMATION DETAILS
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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.