|
Report No. : |
315792 |
|
Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HOKUSAY RUBBER INDUSTRY CO LTD |
|
|
|
|
Registered Office : |
362-14 Oka Kurobe City Toyama-Pref |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.07.2015 |
|
|
|
|
Date of Incorporation : |
December 1949 |
|
|
|
|
Com. Reg. No.: |
2300-01-007421 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Subject is Manufactures industrial rubber
products, others |
|
|
|
|
No. of Employee : |
370 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
HOKUSAY RUBBER INDUSTRY CO LTD
REGD NAME: Hokusay
Gomu Kogyo KK
MAIN OFFICE: 362-14
Oka Kurobe City Toyama-Pref JAPAN
Tel: 0765-52-0001
Fax: 0765-52-4429
URL: http://www.hokusay-rubber.co.jp
E-Mail
address: (thru the URL)
Mfg of
industrial rubber products
Tokyo,
Osaka, Nagoya
At the
caption address, Toyama (2)
SHIN’ICHI
KOMEYA, PRES Masahiro Komeya, ch
Satoshi
Nojima, mgn dir Yuji Komeya,
dir
Kuniharu Kikuchi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 7,921 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
61 M
TREND UP WORTH Yen 4,261 M
STARTED 1949 EMPLOYES 370
MFR OF INDUSTRIAL RUBBER PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: ESTIMATED AT YEN 326.8 MILLION, ON 30 DAYS
NORMAL
TERMS.
The subject company is a specialized mfr of industrial
rubber products, owned by Komeya family.
Goods are exported. Clients
include rubber mfrs, wholesaler, other.
The sales volume for July/2014 fiscal term amounted to Yen
7,921 million, a 16% up from
Yen 6,824 million in the previous term. The recurring profit was posted at Yen 544
million and the net profit at Yen 334 million, respectively, compared with Yen
361 million recurring profit and Yen 162 million net profit, respectively, a
year ago.
For the current term ending July 2015 the recurring profit
is projected at Yen 560 million and the net profit at Yen 350 million,
respectively, on a 5% rise in turnover, to Yen 8,300 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 326.8 million, on 30 days normal terms.
Date
Registered: Dec 1949
Regd
No.: 2300-01-007421 (Toyama-Kurobe)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
488,000 shares
Issued:
122,000 shares
Sum:
Yen 61 million
Major shareholders (%): Shin’ichi Komeya, and families (--100)
No. of shareholders: 7
Nothing detrimental is known as to
the commercial morality of executives.
Activities: Manufactures
industrial rubber products, others (--100%)
Clients:
[Mfrs, wholesalers] Toyoda Gosei Co, YKK, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Shiraishi Calcium, CBC, Sanyo Trading, other
Payment record: No
Complaints
Location:
Business area in Kurobe City, Toyama-Pref.
Office premises at the caption address are owned and maintained
satisfactory.
Bank
References:
Hokuriku Bank (Kurobe)
Toyama Bank (Kurobe)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/07/2015 |
31/07/2014 |
31/07/2013 |
31/07/2012 |
|
|
Annual
Sales |
|
8,300 |
7,921 |
6,824 |
7,069 |
|
Recur.
Profit |
|
560 |
544 |
361 |
|
|
Net
Profit |
|
350 |
334 |
162 |
280 |
|
Total
Assets |
|
|
7,587 |
7,046 |
6,935 |
|
Current
Assets |
|
|
5,152 |
4,714 |
|
|
Current
Liabs |
|
|
2,043 |
1,794 |
|
|
Net
Worth |
|
|
4,261 |
3,906 |
3,702 |
|
Capital,
Paid-Up |
|
|
61 |
61 |
61 |
|
Div.Ttl
in Million (¥) |
|
|
5.4 |
6.5 |
4.3 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.78 |
16.08 |
-3.47 |
14.50 |
|
Current Ratio |
|
.. |
252.18 |
262.76 |
.. |
|
N.Worth Ratio |
|
.. |
56.16 |
55.44 |
53.38 |
|
R.Profit/Sales |
|
6.75 |
6.87 |
5.29 |
.. |
|
N.Profit/Sales |
|
4.22 |
4.22 |
2.37 |
3.96 |
|
Return On Equity |
|
.. |
7.84 |
4.15 |
7.56 |
Notes:
Forecast (or estimated) figures for the 31/07/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.56 |
|
|
1 |
Rs.93.56 |
|
Euro |
1 |
Rs.67.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
|
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 |
|
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 |
|
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.