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Report No. : |
354110 |
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Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
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Name : |
NAIGAI BUSSAN CO LTD |
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Registered Office : |
Sanyo Nissei Kawaramachi Bldg, 2-2-7 Kawaramachi Chuoku Osaka 541-0048 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2015 |
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Date of Incorporation : |
June, 1939 |
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Com. Reg. No.: |
1200-01-068159 (Osaka-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export and wholesale of electronics
materials/components, assembly product. |
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No. of Employees : |
18 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
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Source
: CIA |
NAIGAI BUSSAN CO LTD
REGD NAME: Naigai
Bussan KK
MAIN OFFICE: Sanyo
Nissei Kawaramachi Bldg, 2-2-7 Kawaramachi Chuoku Osaka 541-0048
JAPAN
Tel: 06-6231-2615 Fax: 06-6222-3088
URL: http://www.naigai-bussan.co.jp
E-Mail address: (thru
the URL)
Import,
export, wholesale of electronics materials/components, assembly product
Tokyo,
Hiroshima (Tot 2)
Hong
Kong, China (2)
SHIGETARO
MATSUMOTO, PRES
Takuomi
Matsumoto, ch Naohisa Kotani,
mgn dir
Soichiro
Matsumoto, mgn dir Yuichi Tanaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen
15,842 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 20
M
TREND UP WORTH Yen 1,480 M
STARTED 1939 EMPLOYES 18
TRADING FIIRM SPECIALIZING IN ELECTRONICS MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
The subject
company was established on obtaining sole distributorship from the then
Kanegafuchi Chemical
Ind (now Kaneka Corp). This is a trading firm specializing in import, export and
wholesale of electronics materials/components, assembly products, chemicals,
nonferrous metal
products, others. Operates three overseas offices: China (2), and Hong Kong. Goods
are exported to China, and other S/E Asian countries.
The
sales volume for Sept/2014 fiscal term amounted to Yen 15,842 million for 11
months due to change in accounting term, a 58% up as adjusted on a regular
12-month basis from Yen 10,918 million in the previous term. Exports were robust into China, Indonesia,
and other S/E Asian countries. The
recurring profit was posted at Yen 210 million and the net profit at Yen 110
million, respectively, compared with Yen 95 million recurring profit and Yen 55
million net profit, respectively, a year ago.
For
the term that ended Sept 2015 the recurring profit was projected at Yen 220 million
and the net profit at Yen 120 million, respectively, on a 5% rise in turnover,
to Yen 16,600 million. Final results are
yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date
Registered: Jun 1939
Regd
No.: 1200-01-068159 (Osaka-Chuoku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
1.6 million shares
Issued:
400,000 shares
Sum:
Yen 20 million
Major
shareholders (%): Sanyo Senko Co* (100)
*.. Textile printing works,
Hiroshima, founded 1925, capital Yen 98 million, sales Yen 1,256 million, net
losses Yen 47 million, employees 85, pres Shigetaro Matsumoto, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities:
Imports, exports and wholesales electronic materials/components, assembly
products, chemicals, printed circuit board, nonferrous metal products, others
(--100%)
Clients:
[Mfrs, wholesalers] Sanyo Jaya Component Indonesia, Sanyo Electronic Components
Suzhou, Sanyo Energy, other, Sanyo Electric, Panasonic Plasma Display, New
Japan Radio Co, other
No. of accounts: 350
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Sanyo Electric (50.7%), HC Starck Co (16.7%), Akebono
Machine Ind, Marubeni Itochu Steel, NNP Denshi Co, other
Payment record: No Complaints
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Chugoku
Bank (Osaka)
MUFG
(Kawaramachi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2015 |
30/09/2014 |
31/10/2013 |
31/10/2012 |
|
|
Annual
Sales |
|
16,600 |
15,842 |
10,918 |
15,692 |
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Recur.
Profit |
|
220 |
210 |
95 |
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Net
Profit |
|
120 |
110 |
55 |
82 |
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Total
Assets |
|
|
4,716 |
3,664 |
3,996 |
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Current
Assets |
|
|
4,442 |
3,348 |
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Current
Liabs |
|
|
274 |
315 |
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Net
Worth |
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|
1,480 |
1,382 |
1,334 |
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Capital,
Paid-Up |
|
|
20 |
20 |
20 |
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Div.Ttl
In Million (¥) |
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|
12 |
8 |
8 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.78 |
58.20 |
-30.42 |
15.13 |
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Current Ratio |
|
.. |
1,621.17 |
1,062.86 |
.. |
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N.Worth Ratio |
|
.. |
31.38 |
37.72 |
33.38 |
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R.Profit/Sales |
|
1.33 |
1.33 |
0.87 |
.. |
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N.Profit/Sales |
|
0.72 |
0.69 |
0.50 |
0.52 |
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Return On Equity |
|
.. |
7.43 |
3.98 |
6.15 |
Notes: The 30/09/2014 fiscal
term is for irregular 11 months due to change in accounting term to Oct/Sept from the previous Sept/Oct. Growth rate is adjusted on a regular 12-month
basis.
Forecast
(or estimated) figures for the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
Yen |
1 |
Rs.0.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.