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Report No. : |
355858 |
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Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
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Name : |
CHUBU NIHON PLASTICS CO LTD |
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Registered Office : |
1844 Ose-cho Higashiku Hamamatsu City Shizuoka-Pref 431-3113 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2014 |
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Date of Incorporation : |
November 1975 |
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Com. Reg. No.: |
0804-01-009711 |
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Legal Form : |
Limited Company |
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Line of Business : |
A trading firm, with recycling process operations, for import, export and wholesale of plastics, plastic materials, recycled plastics, other (--100%) |
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No. of Employees : |
39 |
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 |
CHUBU NIHON PLASTICS CO LTD
REGD NAME: KK
Chubu Nihon Plastic
MAIN OFFICE: 1844
Ose-cho Higashiku Hamamatsu City Shizuoka-Pref 431-3113 JAPAN
Tel: 053-433-1933
Fax: 053-433-4140
URL: http://www.cnp.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Plastics
recycling, plastic materials, other
BRANCHES: Tokyo,
Osaka, Nagoya, Tochigi, Okayama, other (Tot 15)
OVERSEAS: USA,
China, Thailand, Korea, Taiwan, Indonesia, Malaysia, Germany, Italy, Turkey,
Malaysia (Tot 11)
FACTORIES: At
the caption address (Recycling Factory)
OFFICERS: MAKIKO
YUKISHITA, PRES
Yasuyuki Oishi, ch
Joji Oishi, s/mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 7,469 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 30 M
TREND STEADY WORTH Yen 568 M
STARTED 1975 EMPLOYES 39
COMMENT: PLASTICS RECYCLING. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company is a trading company, with mfg (recycling) division, for import, export and wholesale of plastics, plastics materials, plastic recycling, other. Has 11 overseas branches and products are both imported and exported. Clients include chemicals mfrs, wholesalers, other
Financials are disclosed only partially.
The sales volume for Aug/2014 fiscal term amounted to Yen 7,469 million, a 31% up from
Yen 5,700 million in the previous term. Unit prices of plastics rose. Exports to Asian countries were robust. The recurring profit was posted at Yen 197 million and the net profit at Yen 140 million, respectively, compared with Yen 100 million net profit a year ago.
For the term that ended Aug 2015 the recurring profit was projected at Yen 200 million and the net profit at Yen 150 million, respectively, on a 5% rise in turnover, to Yen 7,840 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov 1975
Regd No.:
0804-01-009711
(Hamamatsu-Higashiku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 240,000
shares
Issued: 60,000
shares
Sum: Yen
30 million
Major
shareholders (%): Kaoru Oishi (32), Mayuko Ikeda (30), Makiko Yukishita
(14), Yasuyuki Oishi
(6)
No.
of shareholders: 6
Nothing detrimental
is known as to the commercial morality of executives.
Activities: A trading firm,
with recycling process operations, for import, export and wholesale of
plastics, plastic materials, recycled plastics, other (--100%)
Clients: [Mfrs,
wholesalers] Gifu Plastic Ind, Risu Pack Co, Kawakami Sangyo, Fukuvi Chemical
Ind, Yamato-Esulon Co, Kodama Chemical Ind, Shoei Shokai, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nitto Denko Corp, Asmo Co, Hitachi Chemical Electronics Co, Mitsui
Chemicals Tohcello Inc, Nissin Refrigeration & Engineering Co, Hamanako
Denso Co, Yazaki Energy System, Toyoda Gosei, other
Payment record: No Complaints
Location: Business area in
Hamamatsu City. Office premises at the
caption address are owned and maintained satisfactory.
Bank References:
Shizuoka Bank
(Aritama)
Resona Bank
(Hamamatsu)
Relations:
Satisfactory
(In Million
Yen)
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Terms Ending: |
|
31/08/2015 |
31/08/2014 |
31/08/2013 |
31/08/2012 |
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Annual
Sales |
|
7,840 |
7,469 |
5,700 |
3,800 |
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Recur.
Profit |
|
200 |
197 |
.. |
.. |
|
Net
Profit |
|
150 |
140 |
100 |
67 |
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Total
Assets |
|
|
2,853 |
N/A |
N/A |
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Net
Worth |
|
|
568 |
470 |
400 |
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Capital,
Paid-Up |
|
|
30 |
30 |
30 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.97 |
31.04 |
50.00 |
7.99 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
19.91 |
.. |
.. |
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N.Profit/Sales |
|
1.91 |
1.87 |
1.75 |
1.76 |
Notes:
Financials are
only partially disclosed.
Forecast (or
estimated) figures for the 31/08/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
YEN |
1 |
Rs.0.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
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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.