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Report No. : |
354111 |
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Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SEIDENSHA CO LTD |
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Registered Office : |
2-4-3 |
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Country : |
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Financials (as on) : |
30.04.2015 |
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Date of Incorporation : |
August 1958 |
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Com. Reg. No.: |
0700-01-007361 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures electronic & mechanical components, FA-machines, OA-machines, FA-machines, air & oil pressure apparatus, power enclosure & motive power, assemblies, others (--100%) |
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No. of Employees : |
58 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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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 |
SEIDENSHA CO LTD
REGD NAME: KK
Seidensha
MAIN OFFICE: 2-4-3
Tel:
027-362-5111 Fax: 027-362-5950
URL: http://www.sdnsha.co.jp
E-Mail address: sd-seiden@sdnsha.co.jp
ACTIVITIES: Mfg
of electronic components, FA-machines, OA-machines, others
BRANCHES: Oyama,
Nagano, Saitama, Ohta, Koriyama, Nagaoka, Gunma (Ota City)
OVERSEAS: Hong
Kong
FACTORIES: At
the caption address
OFFICERS: EIICHI
TAKIZAWA, PRES
Kazuki Matsuda,
dir
Katsunori Munakata, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 8,404 M
PAYMENTSREGULAR CAPITAL Yen 30 M
TREND UP WORTH Yen 2,510 M
STARTED 1958 EMPLOYES 58
COMMENT: MFR OF ELECTRONIC & MECHANICAL COMPONENTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$200,000 / O/A 90 DAYS TERMS
The subject company was established by Eiichi Takizawa in order to make most of his experience in the subject line of business. This is a specialized mfr of electronic & mechanical components, FA-machines, OA-machines, HA-machines, air & oil pressure apparatus, others (See OPERATION). Goods are exported. Clients include major electric/electronic makers nationwide.
The sales volume for Apr/2015 fiscal term amounted to Yen 8,404 million, an 11% up from Yen 7,559 million in the previous term. Exports were robust to S/E Asian countries. The recurring profit was posted at Yen 222 million and the net profit at Yen 138 million, respectively, compared with Yen 128 million recurring profit and Yen 76 million net profit, respectively, a year ago.
For the current term ending Apr 2016 the recurring profit is projected at Yen 230 million and the net profit at Yen 145 million, respectively, on a 5% rise in turnover, to Yen 8,830 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements. The proposed amount for 90 days terms is considered well within the firm’s financial capabilities.
Date Registered: Aug 1958
Regd No.:
0700-01-007361
(Gunma-Takasaki)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 240,000
shares
Issued: 60,000
shares
Sum: Yen
30 million
Major shareholders (%): Eiichi Takizawa (25.7), Seiwa Kosan Co (19.3), Kazuki Matsuda (9.9), Katsunori
Munakata (4.5)
No. of shareholders: 25
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
electronic & mechanical components, FA-machines, OA-machines, FA-machines,
air & oil pressure apparatus, power enclosure & motive power,
assemblies, others (--100%)
Clients: [Mfrs,
wholesalers] Mitsuba Corp, Sanden Corp, Panasonic Corp, Sanyo Electric Co, Oki
Electric Ind, Hitachi Ltd, Fuji Heavy Ind, Taiyo Yuden Co, Tamura Corp,
other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Panasonic Electric Ind, Panasonic Corp, Nippon Chemi-Con Corp,
IDEC, Mitsubishi Electric Co, Teikoku Tsushin Kogyo, other
Payment record: Regular
Location: Business area in
Takasaki City, Gunma-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Gunma Bank
(Takasaki)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
30/04/2016 |
30/04/2015 |
30/04/2014 |
30/04/2013 |
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Annual
Sales |
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8,830 |
8,404 |
7,559 |
7,378 |
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Recur.
Profit |
|
230 |
222 |
128 |
218 |
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Net
Profit |
|
145 |
138 |
76 |
159 |
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Total
Assets |
|
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4,819 |
4,588 |
4,087 |
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Current
Assets |
|
|
4,076 |
3,936 |
3,471 |
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Current
Liabs |
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2,308 |
2,212 |
1,783 |
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Net
Worth |
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|
2,510 |
2,376 |
2,304 |
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Capital,
Paid-Up |
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|
30 |
30 |
30 |
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Div.Ttl
in Million (¥) |
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|
4.5 |
4.5 |
4.5 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.07 |
11.18 |
2.45 |
6.08 |
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Current Ratio |
|
.. |
176.60 |
177.94 |
194.67 |
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N.Worth Ratio |
|
.. |
52.09 |
51.79 |
56.37 |
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R.Profit/Sales |
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2.60 |
2.64 |
1.69 |
2.95 |
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N.Profit/Sales |
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1.64 |
1.64 |
1.01 |
2.16 |
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Return On Equity |
|
.. |
5.50 |
3.20 |
6.90 |
Notes: Forecast (or estimated) figures for the
30/04/2016 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.29 |
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Euro |
1 |
Rs.72.89 |
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YEN |
1 |
Rs.0.55 |
Note :
Above are approximate rates obtained from sources believed to be correct
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.