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Report No. : |
299304 |
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Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ISHIN HOLDINGS K.K. |
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Registered Office : |
654-4, Ninomiya, Tsuyama-shi, Okayama pref. 708-0013 |
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Country : |
Japan |
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Date of Incorporation : |
30.05.1990 |
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Com. Reg. No.: |
2600-01-020131 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject is specializing in a franchising system for housing-related
services |
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No. of Employees : |
37 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
ISHIN HOLDINGS K.K.
Country: Japan
Company name: ISHIN HOLDINGS K.K.
Name in local language: ISHIN HOLDINGS, K.K. (株式会社イシンホールディングス)
Office address: 654-4, Ninomiya, Tsuyama-shi, Okayama pref. 708-0013
Office tel: 0868-28-9771
Office fax: 0868-28-9775
Website: www.ishinhome.co.jp
Business type: Service
Industry: Housing and related services
Established: May 30, 1990
Capital: Jp. 99,000,000 yen
Employees: 37
Corporate formation: Private
Corporation No.: 2600-01-020131 (Okayama Legal Affairs Bureau)
Paid in capital : Jp. 99,000,000 yen
Number of authorized shares : 41,200 shares
Shares issued : 9,600 shares
Number of shareholder : 1
Ishin K.K. holds 100 percent.
Activity Product/Service Description
-------------------------------------------------------------------------------
Service Franchising business for housing
President Mr. Hiroaki Ishihara
Nationality: Japan
Senior Managing Director Mr. Tetsuro Kasaya
Nationality: Japan
Managing Director Mr. Shingo Akiyama
Nationality: Japan
Managing Director Mr. Takayoshi Yamamoto
Nationality: Japan
Nationality: Japan
Director Mr. Hiromasa Suto
Nationality: Japan
Auditor Mr. Yasushi Makino
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Hiroaki Ishihara
President and representative director
Born on April 11, 1953
Home address: 77-4, Higashi-ichinomiya, Tsuyama-shi, Okayama pref. 708-0814
Currency: (local currency - Jp. yen)
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Year | Sales | Net Income
-------------------------------------------------------------------------------------
|
2009 |
864,305,000 |
106,021,000 |
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2010 |
884,207,000 |
120,649,000 |
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2011 |
1,188,242,000 |
117,783,000 |
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2012 |
1,293,083,000 |
145,806,000 |
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2013 |
2,847,857,000 |
252,021,000 |
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2014 |
8,486,493,000 |
486,921,000 |
*Book Closing*
============
End of February
*Financials*
==========
As a private limited company, no official financial statement is required to be disclosed publicly.
*Bank Details*
============
Bank Name : Chugoku Bank, Ltd.
Branch : Tsuyama-kita
Bank Name : Bank of Tokyo-Mitsubishi UFJ, Ltd.
Branch : Okayama
Bank Name : Tsuyama Credit Bank, Ltd.
Branch : Ninomiya
*Credit Opinion*
=============
The subject is a local firm specializing in a franchising system for housing-related services.
The latest status of the subject is also the holding company of its group firms.
The business founder, Mr. Hiroaki Ishihara, looks a business development-minded person.
He created new business models by changing its articles of incorporation five times since 1990.
The change of the business size is due to change of business formation from the merger to company split and finally the holding company at present.
A successful growth has continued for recent years as the number of franchisees topped 150.
Although the exact financial condition is not available due to non-disclosure of its financial statements, there would be a certain amount of retained earnings.
Negative factors are not observed in particular at moment though there is an issue in the nation that an increasing number of empty houses may become serious in the near future.
Branch name: Ishin Home Residence Research Circle
Branch address: Kunitomi, Naka-ku, Okayama-shi
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Branch name: Tokyo Business Development Division
Branch address: Nihonbashi-kayaba-cho, Chuo-ku, Tokyo
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*Main Products & Services*
======================
Franchising business for housing such as:
Providing the franchisees Ishin’s housing method on a royalty basis
Logistics arrangement of housing materials
Training services for carpenters
Real estate agency with lower cost offers
*Address*
=========
Registered address is the same as the operational address.
*Company History*
================
Date Development
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1989 Started business.
May 30, 1990 Incorporated under the name of “Housing Work Ishihara K.K.”
December 1995 Invented “Ishin Housing Construction Method.”
March 1997 Founded “Ishin Home FC Business Headquarters” for franchising
business.
January 2000 Renamed as “Ishin Home K.K.”
March 2000 The number of franchisees topped 50.
October 2000 Opened Okayama office for housing division.
March 2001 The number of franchisees topped 100.
Opened Tokyo office for FC business headquarters.
October 2001 Renamed as “Ishin K.K.” The number of franchisees topped 150.
December 2001 Embarked onto restaurant business.
April 2002 Completed the head office building.
December 2002 Changed the name of “Ishin Home FC Business Headquarters” to
“Ishin Home Partner Support(PS) System Headquarters.”
April 2003 Started training business for carpenters of the franchisees.
January 2004 Embarked onto remodeling business under the name of “Re Home
Run.”
March 2004 Started real estate agency business under the name of “Fudosan(real
estate) Medama-ichi(special discount market).”
January 2005 Separated the above real estate business to found “Fudosan Medama-
chi K.K.”
February 2005 Separated the housing division to found “Ishin Home Tsuyama K.K.”
and “Ishin Home Okayama K.K.”
January 2006 Started logistics service of housing materials for the members.
April 2007 Founded a joint venture, “2020 Chintai(leasing/rentals) House
Research Circle” with “Canadian Home K.K.” and “Miki Koumuten
K.K.”
October 2007 Changed the name of “Ishin Partner Support System Business
Headquarters” to Ishin Home Residence Research Circle.”
October 2008 Invented “Eco-I Housing Construction Method.”
November 2011 Started “Disaster Prevention Residence Research Circle” in the face
of March 11th Disaster(East Japan Great Earthquake).
March 1, 2012 Took the current company name. Other group companies became its
subsidiaries accordingly.
August 2012 Founded “S I Solar K.K.,” a new subsidiary for solar-powered housing
business.
October 2012 Ranked as No.1 firm by JSK, a research organization in the housing
industry.
November 2012 Founded “Ishin Home Tokyo K.K.,” a new subsidiary
February 2013 “House-of-The-Year, Energy 2013” awarded.
August 2013 Founded “Ishin Home Osaka K.K.,” a new subsidiary.
2014 Founded “MIXAMAX K.K.” and “Ishin Software K.K.”
*Suppliers*
==========
Ascon Corp.
Recruit Corp.
Asahi-Du Pont Flash Span Products K.K.
Chofu Seisakusho Co., Ltd.
Sumitomo Forestry Co., Ltd.
S I Solar K.K.
*Customers*
==========
Ishin Home Okayama K.K.
World Brains Co., Ltd.
Anshin Keikaku Co., Ltd.
Tanaka Kensetsu K.K.
Chuo Kenzai Center Ltd.
Amagawara Co., Ltd.
Kigan Kogyo Co., Ltd.
Suns Corp.
Aiken Service Inc.
Suzuya Corp.
Company name: Ishin Home Okayama K.K.
Country: Japan
Status: Subsidiary
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Company name: I S Solar K.K.
Country: Japan
Status: Subsidiary
----------------------------------------------------------------------------------------------------
Company name: Ishin Home Tokyo K.K.
Country: Japan
Status: Subsidiary
----------------------------------------------------------------------------------------------------
*Subsidiaries & Affiliates*
=====================
As of February 28, 2014, the subject owns and controls a total of nine subsidiaries and affiliates at home.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.39 |
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|
1 |
Rs.96.72 |
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Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIS |
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.