MIRA INFORM REPORT

 

 

Report No. :

353202

Report Date :

16.12.2015

           

IDENTIFICATION DETAILS

 

Name :

NITTO CO LTD

 

 

Registered Office :

1707-2 Dachi-Cho, Toki-Shi, Gifu 5095401

 

 

Country :

Japan

 

 

Financials (as on) :

2015

 

 

Date of Incorporation :

01.04.2009

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Trader of construction & construction materials.

 

 

No. of Employee :

26

 

 

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 :

USD $80,000  

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

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

A2

A2

 

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 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.

 

Source : CIA

 

Company name

 

NITTO CO LTD

 

 

Company Details

 

Country

:

Japan

Business Entity Name

:

NITTO CO LTD (1)

Operating Address

:

1707-2 Dachi-cho, Toki-shi, Gifu 5095401

Tel

:

[+81] 572-501550

Fax

:

[+81] 572-501551

Email

:

info@nitto-web.jp

Website

:

http://www.nitto-web.jp/

Primary Business Activity

:

Trader

Primary Industry

:

Construction & Construction Materials

 

 

Key Facts

 

Registered Legal Address

:

1707-2 Dachi-cho, Toki-shi, Gifu 5095401

License Number

:

1800-01-070453

Date of Registration

:

1 Apr, 2009

Issuing Authority

:

Legal Affairs Bureau, Ministry of Justice - National

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

License Status

:

License exists - Normal.

Operational Status of Business

:

Normal

Employees

:

26

Capital

:

n/a (2)

 

Note:

(1) Legal status of the English corporate name
The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name.

 

(2) Not applicable.
Based on the current corporate laws of Japan there is no longer a requirement for Authorized Capital.

 

 

Adverse Data

 Results

:

Total of  0  record found.

 

 

Financials - Summary  

 

(Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2013 Annual  

5,000,481

n/a

-28,849

2014 Annual  

4,690,004

n/a

2,531

2015 Annual  

4,560,909

n/a

33,170

 

 

Recommended Credit Limit

 

- Trade Finance

Maximum Recommended Credit

:

USD $80,000  based on  90 days

 

 

Key Person

Legal Title

:

President

Name

:

Mr. Hidenari Nitto

Local Name

:

日東英成

Registered Address

:

3-73-2-304 Hakusan-cho, Tajimi-shi, Gifu 5070038

Nationality

:

Japanese

 

 

Primary Products

Products / Materials / Services Description

Activity

Bricks

Importing, Trading

Ceramic blocks

Importing, Trading

Construction materials

Importing, Trading

Garden articles

Importing, Trading

Granite

Importing, Trading

 

 

Commercial Credit Inquiries

Date of Inquiry

Industry
in which Inquirer Operates

Credit Type
(* / **)

Credit Amount

Period

9 Dec, 2015

Professional Services

MRC

USD 80,000

90 days

 

Note:

*

MRC

:

Max. Recommended Credit amount

**

ISC

:

Inquirer Specified Credit amount

 

 

Fullcheck Report Details

 

 

Country

:

Japan

Business Entity Name

:

NITTO CO LTD

Primary Business Activity

:

Trader

Primary Industry

:

Construction & Construction Materials

Office Contact Details

Operating Address

:

1707-2 Dachi-cho, Toki-shi, Gifu 5095401

Tel

:

[+81] 572-501550

Fax

:

[+81] 572-501551

Email

:

info@nitto-web.jp

Website Details

Website

:

http://www.nitto-web.jp/

Status

:

Normal - operational

Country of Registration

:

Japan

Ownership Type

:

Registered ownership by Subject Business Entity

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Brick/Stone/Const Materials

5032

Importing, Trading

Building Materials and Garden

5200

Importing, Trading

Construction Materials, NEC

5039

Importing, Trading

Crushed/Broken Granite

1423

Importing, Trading

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Articles of cement, concrete or artificial stone

6810

Importing, Trading

Articles of stone, plaster, cement, asbestos, mica or similar materials

6800

Importing, Trading

Building blocks and bricks of cement, concrete or of artificial stone whether or not reinforced

6810110000

Importing, Trading

Granite

6802930000

Importing, Trading

 

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

Products / Materials / Services Description

Ranking

Activity

Landscape materials

Primary

Importing, Trading

Stones

Primary

Importing, Trading

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of NITTO CO LTD is Trading - General products.

Key products include :

Bricks

Ceramic blocks

Construction materials

Garden articles

Granite

Landscape materials

Stones

 

Supplementary Business

In addition to the core business, NITTO CO LTD also is engaged in the following areas of business:

Importing

Importing - Finished products

 

 

DOMESTIC SALES & PURCHASES

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

Annual Purchases Analysis

Percentage

Local Purchases

70%

Imports

30%

 

 

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Hidenari Nitto

Japanese

President

-

2

Ms. Kayoko Nitto

Japanese

Director

-

 

Management Details - 2

Personal Unique Identifier

:

MI03930988

Name

:

Ms. Kayoko Nitto

Name in local language

:

日東加代子

 

 

FINANCIALS – SUMMARY

 

 (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2012 Annual

6,771,745

n/a

1,412,726

 

 

CAPITAL 

 

(Currency: JPY - Japanese Yen)

Share Value

:

¥ 50,000

No. of Authorized Shares

:

2,000

Paid-up Capital

:

¥ 10,000,000

 

 

FINANCIAL STATEMENT

 

DETAILED

Income Statement

Currency

:

JPY

Denomination

:

1

Financial Year Ending

:

May

Financial Highlights

2013 Annual

2014 Annual

2015 Annual

Turnover(*)

520,000,000

556,000,000

550,000,000

Profit After Tax attributable to Shareholders(*)

(3,000,000)

300,000

4,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2013 Annual

2014 Annual

2015 Annual

Growth % 

Year-on-Year Growth

(10.34)

6.92

(1.08)

Profitability 

Profit Margin (%)

(0.58)

0.05

0.73

 

 

REPUTATION

 

Reference checking for the purpose of establishing NITTO CO LTD's reputation within the respective industry failed to reveal any adverse information.

 

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

DISHONORED CHECKS

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

DEBT

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

CIVIL LITIGATION

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

PERFORMANCE DEFAULTS

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

No Record Found

 

 

 

PAYMENT TERMS

 

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

BANK DETAILS

 

Bank Name

:

BANK OF TOKYO-MITSUBISHI UFJ LTD, THE

Global Identifier

:

P0006866

Branch

:

Chiyoda-ku,Tokyo

Branch Address

:

2-7-1 Marunouchi Chiyoda-ku Tokyo 1000005 (Head Office)

SWIFT Code

:

BOTKJPJT

 

Bank Name

:

GIFU SHINKIN BANK

Global Identifier

:

P0189271

Branch

:

Gifu-shi

Branch Address

:

6-11 Kandamachi Gifu-shi Gifu 5008562 (Head Office)

SWIFT Code

:

GFSBJPJZ

 

Bank Name

:

JUROKU BANK LTD, THE

Global Identifier

:

P0189059

Branch

:

Gifu-shi

Branch Address

:

8-26 Kandamachi Gifu-shi Gifu 5008833 (Head Office)

SWIFT Code

:

JUROJPJT

 

 

LOCAL BRANCHES & MANAGEMENT

 

Branch

:

NITTO CO LTD - BUNKYO-KU, TOKYO

Branch Address

:

2Fl 1-7-5 Sekiguchi, Bunkyo-ku, Tokyo 1120014

Branch Tel

:

81-3-52286021

Branch Fax

:

81-3-52286025

 

Branch

:

NITTO CO LTD - MIYAGINO-KU, SENDAI-SHI

Branch Address

:

201, 1-5-1 Nigatake, Miyagino-ku, Sendai-shi, Miyagi 9830036

Branch Tel

:

81-22-2362641

Branch Fax

:

81-22-2362642

 

Branch

:

NITTO CO LTD - HIGASHIYODOGAWA-KU, OSAKA-SHI

Branch Address

:

7Fl 1-1-35 Nishi-awaji, Higashiyodogawa-ku, Osaka-shi, Osaka 5330031

Branch Tel

:

81-6-63253551

Branch Fax

:

81-6-63253552

 

Branch

:

NITTO CO LTD - HAKATA-KU, FUKUOKA-SHI

Branch Address

:

3Fl 4-1-17 Hakataeki-mi, Hakata-ku, Fukuoka-shi, Fukuoka 8120016

Branch Tel

:

81-92-4334130

Branch Fax

:

81-92-4334131

 

 

SHAREHOLDERS

 

Total number of shareholders

:

1

Total number of shares

:

200

 

Currency

:

JPY - Japanese Yen

 

No.

Shareholders

Country

Shares

Number

Amount (JPY)

%

1

Mr. Hidenari Nitto

Japan

200

10,000,000

100.00

Total

200

10,000,000

100.00

 

Today's Exchange rate

:

1.00 JPY
Japanese Yen

=

0.008293 USD
United States Dollars

 

Based on corporate statutory laws / regulations in Japan, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03930987

Name

:

Mr. Hidenari Nitto

Name in local language

:

日東英成

Date of Birth

:

12 Aug, 1968

Registered Address

:

3-73-2-304 Hakusan-cho ,Tajimi-shi ,Gifu 5070038

Country of Residence

:

Japan

 

2

 

 

Personal Unique Identifier

:

MI03930988

Name

:

Ms. Kayoko Nitto

Name in local language

:

日東加代子

 

 

INTERNATIONAL TRADE

 

 Activity & Markets

      

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

China

Medium

Importing

Indonesia

Medium

Importing

Italy

Medium

Importing

 

 

DOMESTIC SUPPLIERS

 

Business Entity Name

Global Identifier

SANWA CO LTD

P0408808

TANIGUCHI SEITOUSHO CO LTD

P3340542

 

 

DOMESTIC CUSTOMERS

 

Business Entity Name

Global Identifier

AINAVO HOLDINGS CO LTD

P3340326

HIRATA TILE CO LTD

P0459186

SANWA CO LTD

P0408808

SEKISUI HOUSE LTD

P0070291

 

 

OFFICE & FACILITIES

 

The following information relates to the Business Entity's office as listed above:

 

Name

:

NITTO CO LTD - TOKI-SHI, GIFU

Primary Use

:

Office & Administration facilities

Address

:

1707-2 Dachi-cho, Toki-shi, Gifu 5095401

Country

:

Japan

Status

:

Operational

 

 

PREVIOUS CONTACT DETAILS

 

Company Address

:

1-11-12 Sannomaru, Naka-ku, Nagoya-shi, Aichi 4600001

Date of Relocation

:

9 Sep, 2012

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.67.04

UK Pound

1

Rs.101.67

Euro

1

Rs.73.93

JPY

1

Rs. 0.55

Note : Above are approximate rates obtained from sources believed to be correct

 

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.