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Report No. : |
318111 |
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Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
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Name : |
HIDAN CO LTD |
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Registered Office : |
1-5-13 Kamezawa Sumidaku Tokyo 130-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
April 1950 |
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Com. Reg. No.: |
0106-01-032768 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures cosmetic containers,
bottles, covers, of plastic, synthetic resin, aluminum make, others. |
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No. of Employees : |
160 |
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 |
KK HIDAN
MAIN OFFICE: 1-5-13 Kamezawa Sumidaku Tokyo 130-0014 JAPAN
Tel: 03-3624-1134
Fax: 03-3624-1985
E-Mail address: (thru the URL)
Mfg of cosmetic containers
Chiba
China (2), Paris, USA
Funabashi, China (2)
HIDEO MATSUNUMA, PRES Kimihiro
Rogi, s/mgn dir
Tadashi
Okazawa, mgn dir Koji
Kato, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 5,957 M
PAYMENTS NO
COMPLAINTS CAPITAL YEN 100 M
TREND SLOW WORTH Yen 5,470 M
STARTED 1950 EMPLOYES 160
MFR OF COSMETIC CONTAINERS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1937 by
father of Hideo Matsunuma, on his account.
Incorporated in 1950 the firm has been succeeded by his
descendants. This is a specialized mfr
of cosmetic containers, bottles, other, of synthetic resin, plastic, aluminum,
other make. Clients include major
cosmetic makers, nationwide.
Financials are only partially disclosed.
The sales volume for Dec/2013 fiscal term amounted to Yen
5,957 million, a 3% down from Yen 6,110 million in the previous term. The net profit is estimated posted at Yen 290
million, compared with Yen 300 million a year ago. The profits were not precisely disclosed and
these figures are estimated only.
For the term that ended Dec 2014 the net profit was
projected at Yen 320 million, on a 5% rise in turnover, to Yen 6,250
million. Final results are not released
as yet.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Apr 1950
Regd No.: 0106-01-032768
(Tokyo-Sumidaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued: 200,000
shares
Sum: Yen
100 million
Major shareholders (%): Hideo
Matsunuma (90), Yoshiko Matsunuma (10)
No. of
shareholders: 2
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Manufactures cosmetic containers, bottles, covers, of plastic, synthetic resin,
aluminum make, others (--100%)
Clients: [Cosmetics mfrs] Shiseido
Co, Kao Corp, Chanel, Estee Lauder Inc Group, L’Oreal Group firms, Kanebo,
other
No.
of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Daiwa
Kinzoku Kogyo, Akao Aluminum Co, Nakagawa Metal Ind, Koryo Jushi Corp, other.
Imports from factories in China,
France, other
Payment record: No
Complaints
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
Chiba
Kogyo Bank (Kashiwa)
Shoko
Chukin Bank (Chiba)
Relations:
Satisfactory
(In Million Yen)
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Terms
Ending: |
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31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
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Annual
Sales |
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6,250 |
5,957 |
6,110 |
6,593 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
320 |
290 |
300 |
330 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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5,470 |
5,180 |
4,880 |
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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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4.92 |
-2.50 |
-7.33 |
4.65 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
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5.12 |
4.87 |
4.91 |
5.01 |
Notes: Financials are only partially disclosed. Profits are estimated as not precisely disclosed Forecast (or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
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|
1 |
Rs.93.10 |
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Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
VNT |
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.