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Report No. : |
308651 |
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Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NISSAN TRADING CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April, 1978 |
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Com. Reg. No.: |
0200-01-037321 (Yokohama-Totsukaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Automobiles, Machinery, Steel & Nonferrous Metals, Fuels, Chemicals, Others. |
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No. of Employees : |
261 |
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) |
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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 |
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.
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Source
: CIA |
NISSAN TRADING CO LTD
REGD NAME: Nissan
Trading KK
MAIN OFFICE:
244-0805 JAPAN
Tel: 045-522-3840 Fax:
045-522-1129
E-Mail address: i.terashima@nitco.co.jp
Import, export,
wholesale of automobiles, machinery, steel & nonferrous metals, fuels, chemicals, others
Fukuoka,
Utsunomiya, Fuji
China (3),
Nashville, Amsterdam, Los Angeles, Mexico City, Barcelona
China (5), Taiwan,
USA (3), UK (2), Europe (2), India, Indonesia, Thailand, Brazil, other
MASASHI ENOMOTO,
PRES
Akihiro
Ishiwatari, dir
Hitoshi Sawazaki,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 340,823 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 320 M
TREND UP WORTH Yen
26,109 M
STARTED 1978 EMPLOYES 261
TRADING HOUSE WHOLLY OWNED BY NISSAN MOTOR CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established as a trading house by Nissan Motor Co Ltd, one of the
largest automakers in Japan, for importing automotive components and raw
materials, and exporting cars. Through
the years since the inception, the firm has grown into a specialized trading
house handling a wide range of automotive products, utilizing the parent’s wide
networks worldwide. The firm has also
diversified into various other areas, such as machinery parts, steel &
nonferrous metals, energy & chemicals, etc.
Major portion of business operations is still with Nissan Motor and its
group firms, for importing & exporting Nissan car produced both
domestically and abroad. Exports Nissan
cars to overseas Japanese embassies, consulates & diplomats. In Apr 2013 set up a subsidiary in
Brazil.
The sales volume
for Mar/2014 fiscal term amounted to Yen 340,823 million, a 6% up from Yen
320,978 million in the previous term.
Exports of Nissan cars were robust to S/E Asian countries. Also the weaker Yen contributed to the sales
growth in Yen terms The recurring
profit was posted at Yen 11,335 million and the net profit at Yen 2,078 million
respectively, compared with Yen 7,943 million recurring profit and Yen 4,354
million net profit, respectively, a year ago.
For the current
term ending Mar 2015 the recurring profit is projected at Yen11,500 million and
the net profit at Yen 2,200 million, respectively, on a 5% rise in turnover, to
Yen 357,500 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr
1978
Regd No.:
0200-01-037321
(Yokohama-Totsukaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1.6 million shares
Issued:
400,000 shares
Sum: Yen
320 million
Major shareholders (%): Nissan Motor Co*
(100)
*.. Second largest automaker in Japan, founded 1933, listed Tokyo S/E,
capital Yen 605,814 million, sales Yen 10,482,520 million, operating profit Yen
498,365 million, recurring profit Yen 527,189 million, net profit Yen 389,034
million, total assets Yen 14,703,403 million, net worth Yen 6,338,654 million,
employees 160,530, pres Carlos Ghosn
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading house, owned by Nissan Motor Co,
for import, export, wholesale of:
(Sales breakdown by divisions):
Vehicle Div (7%): automobiles,
commercial vehicles, special vehicles, spare parts & car accessories;
Machinery &
Automotive Components Div (20%): Automotive components business (engines,
power train components, catalytic converters, aluminum wheels, brakes &
other chassis components, roof racks, spoilers & other exterior components,
seat materials & other trim components); Machinery (machine tools, presses,
casting equipment, electric vices & apparatus, plastic injection machines,
testers, welding equipment, stamping dies, molding dies, jig fixtures, cutting
& pneumatic tools, pallets, other tools, environmental facilities;
Steel &
Nonferrous Metal Div (45%): Steel Business (mild steel, cold/rolled steel,
hot-rolled steel, various types of surface-treated steel, special steel 8structural
carbon steel, structural alloy steel, stainless steel), extruded aluminum,
pallets for automotive parts; Non-ferrous metal business (aluminum primary
& secondary ingots & aluminum scraps, platinum, palladium, rhodium, rare metals (cobalt);
Energy, Materials
& Chemical Div (15%): Energy & Materials business (bunker &
industrial fuel oils, lubricants, liquefied petroleum gas (LPG), grease,
automobile gasoline, gas oil & lubricant oils, cokes, materials for
casting, raw materials for steel, nickel for stainless steel recycled precious
metals; Chemical business (synthetic resins (thermoplastic resins,
thermosetting resins, master batches), plastic components, organic chemicals
(intermediates, raw materials, solvents, plasticizers, industrial chemicals,
others.
Chemicals, others
(10%).
Clients: [Carmakers] Nissan Motor & group firms, Nissan Trading Europe, Nissan Trading USA, Kyushu Steel Center, Nissan Mexico, Jatco, other
No. of accounts: 100 (Major direct clients)
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nissan Motor, Nippon Steel, Kobe Steel, JFE Steel, Nippon Steel, Daido Special Steel, Unipress Corp, Kyushu Steel Center, JX Holdings Inc, etc
Payment record: No Complaints
Location: Business area in
Yokohama. Office premises at the caption
address are owned by the parent, Nissan Motor Co Ltd, and maintained
satisfactorily.
Bank References:
Mizuho Bank (H/O)
MUFG (Shimbashi)
Relations:
Satisfactory
(In Million Yen)
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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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357,500 |
340,823 |
320,978 |
329,194 |
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Recur.
Profit |
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11,500 |
11,335 |
7,943 |
7,215 |
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Net
Profit |
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2,200 |
2,078 |
4,954 |
4,248 |
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Total
Assets |
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26,109 |
19,039 |
75,749 |
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Current
Assets |
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72,720 |
79,914 |
73,224 |
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Current
Liabs |
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48,488 |
62,359 |
59,867 |
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Net
Worth |
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26,109 |
19,039 |
14,891 |
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Capital,
Paid-Up |
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|
320 |
320 |
320 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.89 |
6.18 |
-2.50 |
12.31 |
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Current Ratio |
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.. |
149.98 |
128.15 |
122.31 |
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N.Worth Ratio |
|
.. |
100.00 |
100.00 |
19.66 |
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R.Profit/Sales |
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3.22 |
3.33 |
2.47 |
2.19 |
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N.Profit/Sales |
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0.62 |
0.61 |
1.54 |
1.29 |
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Return On Equity |
|
.. |
7.96 |
26.02 |
28.53 |
Notes: Forecast (or
estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.20 |
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|
1 |
Rs.95.99 |
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Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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.