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Report No. : |
306952 |
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Report Date : |
07.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NITI-ON CO LTD |
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Registered Office : |
2-12-4 |
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Country : |
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Date of Incorporation : |
April 1955 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures (30%) and imports (70%) medical instruments, medical
washing apparatus, surgery units, other |
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No. of Employee : |
47 |
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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Maximum Credit Limit : |
USD Yen 19.4 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. Japan's industrial sector is 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 three 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. The economy has largely recovered in the two years since the disaster, but reconstruction in the Tohoku region has been uneven. 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 2013 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 new government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which is exceeding 230% 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 the year 2015. 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 |
NITI-ON CO LTD
REGD NAME: KK Niti-On
MAIN OFFICE: 2-12-4 Sakaecho Funabashi City
Chiba-Pref 273-0018 JAPAN
Tel:
047-431-1871 Fax: 047-431-1878
URL: http://www.nition.jp
E-Mail address: (thru
the URL)
ACTIVITIES: Mfg of medical instruments
BRANCHES: Osaka, Fukuoka, Fukushima
FACTORIES: At the caption address
OFFICERS: HIROSHI HONDA, PRES Emi Honda, dir
Tadayoshi
Murakami, dir Kumiko
Yoshihara, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 1,300 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 12 M
TREND STEADY WORTH Yen
317 M
STARTED 1955 EMPLOYES 47
COMMENT: MFR OF MEDICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 19.4 MILLION, ON 30
DAYS NORMAL TERMS.
This is a specialized mfr of medical instruments, surgery
unit, other. Goods are exported. Clients include hospitals, medical
institutions, other.
The sales volume for May/2014 fiscal term amounted to Yen
1,300 million, an almost similar amount of yen 1,297 million in the previous
term. The recurring profit was posted at
Yen 50 million and the net profit at Yen 50 million, respectively, compared with
Yen 39 million recurring profit and Yen 38 million net profit, respectively, a
year ago.
For the current term ending May 2015 the recurring profit is
projected at Yen 55 million and the net profit at Yen 50 million, respectively,
on a 4% rise in turnover, to Yen 1,350 million.
Newly developed medical washing apparatus is in good demand.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 19.4 million, on 30 days normal terms.
Date
Registered: Apr 1955
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
96,000 shares
Issued:
24,000 shares
Sum: Yen 12 million
Major
shareholders (%): Hiroshi Honda (54), Yasushi Honda (29), other
No. of shareholders: ‘
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Manufactures (30%) and imports (70%) medical instruments, medical washing
apparatus, surgery units, other.
Clients:
[Mfrs, wholesalers] Yagami Mfg, Kawanishi Medical, Muto, Cannon Life Care
Solutions, other
No. of
accounts: 250
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Goods are imported
Payment
record: No
Complaints
Location:
Business area in Funabashi. Office
premises at the caption address are owned and maintained satisfactory.
Bank
References:
Chiba Bank (Funabashi)
Mizuho Bank (Funabashi)
Relations: ^Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/05/2015 |
31/05/2014 |
31/05/2013 |
31/05/2012 |
|
|
Annual Sales |
|
1,350 |
1,300 |
1,297 |
1,153 |
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Recur. Profit |
|
55 |
50 |
39 |
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Net Profit |
|
50 |
50 |
38 |
4 |
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Total Assets |
|
|
1,286 |
1,417 |
1,434 |
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Current Assets |
|
|
955 |
1,059 |
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Current Liabs |
|
|
265 |
317 |
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Net Worth |
|
|
317 |
267 |
228 |
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Capital, Paid-Up |
|
|
12 |
12 |
12 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.85 |
0.23 |
12.49 |
3.50 |
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Current Ratio |
|
.. |
360.38 |
334.07 |
.. |
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N.Worth Ratio |
|
.. |
24.65 |
18.84 |
15.90 |
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R.Profit/Sales |
|
4.07 |
3.85 |
3.01 |
.. |
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N.Profit/Sales |
|
3.70 |
3.85 |
2.93 |
0.35 |
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Return On Equity |
|
.. |
15.77 |
14.23 |
1.75 |
Notes: Forecast (or estimated) figures for the 31/05/2015
fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
|
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.