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Report No. : |
307503 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NISHIYAMA CORPORATION |
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Registered Office : |
4-11-11 Omori-Kita Otaku Tokyo 143-0016 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
July 1947 |
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Com. Reg. No.: |
0108-01-013514 (Tokyo-Otaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of industrial rubber & plastic products, industrial machinery & equipment |
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No of Employees : |
298 |
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 : |
Yen 853.2 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) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
NISHIYAMA
CORPORATION
KK Nishiyama
4-11-11 Omori-Kita Otaku Tokyo 143-0016JAPAN
Tel: 03-5767-5351 Fax: 03-5767-4156
URL: http://www.nishiyama.co.jp
E-Mail address: info@nishiyama.co.jp
Import, export, wholesale of
industrial rubber & plastic products, industrial machinery & equipment
Osaka, Nagoya, Hitachi, Akashi,
Hiroshima, Fukuoka
New York, Nebraska (--USA),
Dusseldorf, Shanghai, Thailand, Indonesia
MASAYUKI SATO, PRES Hiromu Nishiyama, ch
Minoru Kojima, mgn dir Takeshi Kageyama, mgn dir
Masaaki Nishiyama, dir Akira Otokawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 27,798 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 484 M
TREND UP WORTH Yen 8,856 M
STARTED 1947 EMPLOYES 298
TRADING
FIRM SPECIALIZING IN INDUSTRIAL RUBBER PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 853.2
MILLION, 30 DAYS NORMAL TERMS
The
subject company was established originally in 1916 by a certain Nishiyama for
handling industrial rubber products, on his account, as Nishiyama Rubber
Shoten. Incorporated in 1947 the firm
has been succeeded by his descendants.
This is a trading firm for import, export and wholesale of industrial
equipment, transportation machinery & equipment, information &
communications, electronics, semiconductors, other (See OPERATION). Business into
energy & utilities fields account for over 40% of total sales. Established a subsidiary in Thailand in May
2012. Clients include gas companies,
railways, and machinery makers, other, nationwide.
The
sales volume for Mar/2014 fiscal term amounted to Yen 27,798 million, a 10% up from
Yen 25,233 million in the previous term.
Exports were robust to China & other S/E Asian countries. Price hikes of the products contributed. The recurring profit was posted at Yen 1,036
million and the net profit at Yen 553 million, respectively, compared with Yen
564 million recurring profit and Yen 206 million net profit, respectively, a
year ago.
For
the current term ending Mar 2015 the recurring profit is projected at Yen 1,100
million and the net profit at Yen 570 million, respectively, on a 5% rise in
turnover, to Yen 29,300 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 853.2 million, on 30 days normal terms.
Date Registered:
July 1947
Regd No.: 0108-01-013514
(Tokyo-Otaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 17
million shares
Issued: 4.38
million shares
Sum: Yen
484 million
Major shareholders (%): Hiromu
Nishiyama (15.1), Employees’ S/Holding Assn (11.2), Tomoo Yajima (10.7)
No. of shareholders: 92
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Trading firm for import, export and wholesale of industrial rubber & plastic
products, industrial equipment, measuring instruments, other (--100%)
(Handling
Items):
Energy
Systems Division: NEXT lining method, measuring diaphragms for gas meters,
gas bags, insertion-type waterproof devices, infrared radiation temperature measuring
instruments, corrosion protection materials, DSL transmission equipment, ISDN
central office simulators, test system for type approval, facsimile tester;
Industrial
Equipment Division: FDR high precision rubber vulcanization (curving) tester,
omniseals by US Saint Gobain Performance Plastic Inc, metallic seal rings,
manipulators by Schilling robotics LLC, hoses;
Electro
Controllers Division: meter to measure dissolved ozone in
liquid, ultrasonic dosimeter, use point temperature control system.
Clients:
[Mfrs, wholesalers] Tokyo Gas Co, Kawasaki Heavy Ind, Japan Railways, Hitachi
Ltd, Tokyo Electron, Advantest, Nippon Sharyo Co, Japan Transport Engineering
Co, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Toyo Rubber Ind, Yokohama Rubber, Togawa Rubber, Sumitomo 3M Ltd,
Nitto Kohki Co, Nishikawa Rubber Co, Rion Co, other
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Omori)
Mizuho
Bank (Omori)
Relations:
Satisfactory
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual Sales |
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29,300 |
27,798 |
25,233 |
28,152 |
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Recur. Profit |
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1,100 |
1,036 |
564 |
1,412 |
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Net Profit |
|
570 |
553 |
206 |
682 |
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Total Assets |
|
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19,907 |
18,838 |
18,816 |
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Current Assets |
|
|
12,619 |
11,738 |
12,187 |
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Current Liabs |
|
|
9,585 |
8,902 |
9,044 |
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Net Worth |
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|
8,856 |
8,278 |
7,967 |
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Capital, Paid-Up |
|
|
484 |
484 |
484 |
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Div.P.Share(¥) |
|
|
20.00 |
15.00 |
15.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
5.40 |
10.17 |
-10.37 |
14.00 |
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Current Ratio |
|
.. |
131.65 |
131.86 |
134.75 |
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N.Worth Ratio |
|
.. |
44.49 |
43.94 |
42.34 |
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R.Profit/Sales |
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3.75 |
3.73 |
2.24 |
5.02 |
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N.Profit/Sales |
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1.95 |
1.99 |
0.82 |
2.42 |
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Return On Equity |
|
.. |
6.24 |
2.49 |
8.56 |
Notes: Forecast (or estimated)
figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 62.14 |
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|
1 |
Rs. 94.78 |
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Euro |
1 |
Rs. 70.38 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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 |
-- |
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.