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Report No. : |
315799 |
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Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
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Name : |
NIKKEIKIN ALUMINIUM CORE TECHNOLOGY
COMPANY LTD |
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Registered Office : |
Tennozu Yusen Bldg 8F, 2-2-20 Higashi-Shinagawa Shinagawaku Tokyo 140-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April, 1986 |
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Com. Reg. No.: |
0107-01-013717 (Tokyo-Shinagawaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Aluminium
Extrusion, Rods, Rolls, Other. |
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No. of Employees : |
118 |
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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Maximum Credit Limit : |
Yen 482.7 Million |
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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 |
|
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.
|
Source
: CIA |
NIKKEIKIN ALUMINIUM CORE TECHNOLOGY COMPANY LTD
REGD NAME: Nikkeikin Act KK
MAIN OFFICE: Tennozu Yusen Bldg
8F, 2-2-20 Higashi-Shinagawa Shinagawaku Tokyo 140-0002 JAPAN
Tel: 03-5461-9391 Fax: 03-5461-8315
URL: http://www.nikkeikin.co.jp
E-Mail address: (thru the URL)
Import, export,
wholesale of aluminium extrusion, rods, rolls, other
Nagoya, Osaka
SHO ADACHI, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 31,598 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 460 M
TREND UP WORTH Yen
3,814 M
STARTED 1986 EMPLOYES 118
TRADING FIRM SPECIALIZING IN ALUMINIUM
PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 482.7 MILLION, ON 30 DAYS NORMAL TERMS.
The subject
company is a trading firm, founded by Nippon Light Metal Holdings Co Ltd (See REGISTRATION). As a trading firm it imports, exports and
wholesales aluminium products: extrusion, rods, rolls, sheets, other.
The sales volume
for Mar/2014 fiscal term amounted to Yen 31,598 million, a 14% up from Yen 27,830 million in the previous term. The recurring
profit was posted at Yen 1,370 million and the net profit at Yen 830 million,
respectively, compared with Yen 1,112 million recurring profit and Yen 629
million net profit, respectively, a year ago.
For the term that
ended Mar 2015 the recurring profit was projected at Yen 1,450 million and the
net profit at Yen 850 million, respectively, on a 5% rise in turnover, to Yen
33,150 million. Final results
are yet to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max
credit limit is estimated at Yen 482.7 million, on 30 days normal terms.
Date Registered: Apr
1986
Regd No.:
0107-01-013717
(Tokyo-Shinagawaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 3.68
million shares
Issued: 920,000
shares
Sum: Yen
460 million
Major
shareholders (%): Nippon Light Metal Holdings Co Ltd* (100)
*.. Aluminium mfg,
Tokyo, founded 2012, listed Tokyo S/E, capital Yen 39,085 million, sales Yen 402,829 million, net profit Yen
5,128 million, total assets Yen
445,555 million, net worth Yen 120,806 million, employees 10,782, pres Takashi Ishiyama
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of aluminium products: extrusion, rods, sheets,
rolls, wastes, other (--100%)
Clients: [Mfrs,
wholesalers] Nippon Light Metal, Nippon Full Half, Nikkei Trading, Nikkei Metal
Ind, other
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nippon Light Metal, NTC, Nippon Light Metal Group firms, 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
(Uchisaiwaicho)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
33,150 |
31,598 |
27,830 |
29,963 |
|
Recur.
Profit |
|
1,450 |
1,370 |
1,112 |
|
|
Net
Profit |
|
850 |
830 |
629 |
907 |
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Total
Assets |
|
|
18,087 |
16,430 |
17,396 |
|
Current
Assets |
|
|
16,495 |
14,880 |
|
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Current
Liabs |
|
|
12,577 |
11,641 |
|
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Net
Worth |
|
|
3,814 |
3,309 |
3,164 |
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Capital,
Paid-Up |
|
|
460 |
460 |
460 |
|
Div.Ttl
in Million (¥) |
|
|
331.2 |
479.4 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.91 |
13.54 |
-7.12 |
5.40 |
|
Current Ratio |
|
.. |
131.15 |
127.82 |
.. |
|
N.Worth Ratio |
|
.. |
21.09 |
20.14 |
18.19 |
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R.Profit/Sales |
|
4.37 |
4.34 |
4.00 |
.. |
|
N.Profit/Sales |
|
2.56 |
2.63 |
2.26 |
3.03 |
|
Return On Equity |
|
.. |
21.76 |
19.01 |
28.67 |
Notes: Forecast (or estimated) figures for the
31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.92 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.