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Report No. : |
308681 |
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Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
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Name : |
DAIHO TRADING CO LTD |
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Registered Office : |
Okura Bekkan Bldg 6F, 3-4-1 Ginza Chuoku Tokyo 104-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1950 |
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Com. Reg. No.: |
0100-01-048958 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trading firm for import, export and wholesale of leather, shoes,
cereal, fertilizer, building materials, foodstuffs, apparel, industrial
machinery, 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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 |
DAIHO TRADING CO
LTD
Daiho Shoji KK
Okura Bekkan Bldg 6F, 3-4-1 Ginza Chuoku Tokyo 104-0061 JAPAN
Tel: 03-3567-6731
Fax: 03-3561-5708
*.. Moved to the caption address in Dec 3013 from the one as given
**.. Nippi Inc is the shareholder of the subject firm
URL: http://www.nippi-inc.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Import, export, wholesale of leather,
cereals, fertilizers, building materials, foods
BRANCHES: Osaka
OVERSEAS: Italy
OFFICERS: TAKAO ITOH, PRES Minoru Minagawa, s/mgn dir
Eiji Miyahara, mgn
dir Tetsuya Iida, dir
Sumio
Takeuchi, dir Noritaka
Koyama, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 14,928 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
90 M
TREND UP WORTH Yen
1,369 M
STARTED 1950 EMPLOYES 39
COMMENT: TRADING FIRM AFFILIATED TO NIPPI INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated
from Nippi Inc (See REGISTRATION). This is a trading firm for import, export and
wholesale of cereals, fertilizers, building materials, foods, other. Imports from: China, USA, Europe, India,
Oceania, Asia, other. Clients include food
mfrs, wholesalers, other.
The sales volume for Mar/2014 fiscal term amounted to Yen 14,928
million, a 15% up from Yen 13,033 million in the previous term. The recurring profit was posted at Yen 265 million
and the net profit at Yen 27 million, respectively, compared with Yen 261
million recurring profit and Yen 124 million net profit, respectively, a year
ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 280 million and the net profit at Yen 145 million, respectively, on a 5%
rise in turnover, to Yen 15,600 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr
1950
Regd No.: 0100-01-048958
(Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7.2 million shares
Issued:
1.8 million shares
Sum: Yen
90 million
Major shareholders
(%): Nippi Inc* (77), Regal Corp (16), Takao Ito (1)
No. of shareholders: 11
*.. Mfr of cosmetics, Tokyo, founded 1907, listed JASDAQ, capital Yen
4,404 million, sales Yen 40,980 million, operating profit Yen 1,838 million,
recurring profit Yen 1,771 million, net profit Yen 663 million, total assets
Yen 62,377 million, net worth Yen 22,359 million, employees 616, pres Takao Ito
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading firm for
import, export and wholesale of leather, shoes, cereal, fertilizer, building
materials, foodstuffs, apparel, industrial machinery, other (--100%)
Clients: [Mfrs,
wholesalers] Regal Corp, Nippi Inc, Nippi-Fujita Inc, Okura Foods, Nippi
Collagen Ind, Asahi Gelatine Ind, Marui Co, Sanyo Co, Mitsubishi Corp,
other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from China, USA, Europe, Thailand, Taiwan, Australia,
India, other
Domestically from: Nippi Inc, Asahi Gelatine Ind, Tokai, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Mizuho Bank (Ginza)
MUFG (Ginza)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual Sales |
|
15,600 |
14,928 |
13,033 |
13,544 |
|
Recur. Profit |
|
280 |
265 |
261 |
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Net Profit |
|
145 |
27 |
124 |
120 |
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Total Assets |
|
|
6,147 |
6,358 |
5,511 |
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Current Assets |
|
|
5,743 |
5,989 |
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Current Liabs |
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|
4,199 |
4,288 |
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Net Worth |
|
|
1,369 |
1,411 |
1,305 |
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Capital, Paid-Up |
|
|
90 |
90 |
90 |
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Div.Ttl in Million (¥) |
|
|
9 |
18 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.50 |
14.54 |
-3.77 |
7.17 |
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Current Ratio |
|
.. |
136.77 |
139.67 |
.. |
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N.Worth Ratio |
|
.. |
22.27 |
22.19 |
23.68 |
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R.Profit/Sales |
|
1.79 |
1.78 |
2.00 |
.. |
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N.Profit/Sales |
|
0.93 |
0.18 |
0.95 |
0.89 |
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Return On Equity |
|
.. |
1.97 |
8.79 |
9.20 |
Notes: Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.96.00 |
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Euro |
1 |
Rs.71.00 |
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.