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Report No. : |
299791 |
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Report Date : |
15.01.2015 |
IDENTIFICATION DETAILS
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Name : |
NAMICS CORPORATION |
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Registered Office : |
3993, Nigorikawa, Kita-ku, Niigata-shi, Niigata pref. 950-3131 |
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Country : |
Japan |
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Date of Incorporation : |
17.02.1947 |
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Com. Reg. No.: |
1100-01-004394 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer of Chemical products |
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No. of Employees : |
484 |
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 Limits : |
US$ 6 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 – 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 |
NAMICS CORPORATION
Country: Japan
Company name: NAMICS CORPORATION
Name in local language: NAMIKKUSU K.K. (ナミックス株式会社)
Office address: 3993, Nigorikawa, Kita-ku, Niigata-shi, Niigata pref. 950-3131
Office tel: 025-258-5577
Office fax: 025-258-5511
Website: www.namics.co.jp
Business type: Manufacturer
Industry: Chemical products
Established: February 17, 1947
Capital: Jp. 80,000,000 yen
Employees: 484
Corporate formation: Private
Corporation No.: 1100-01-004394 (Niigata Legal Affairs Bureau)
Paid in capital : Jp. 80,000,000 yen
Number of authorized shares : 6,000,000 shares
Shares issued : 1,510,000 shares
Number of shareholder : 24
Name of
shareholders Number of shares (%)
-------------------------------------------------------------------------------------------------------------
Tokyo Small & Medium Business
Investment & Consultation Co., Ltd. 380,000 shares (25.2)
Mr. Toshinobu Odajima, president 256,700 shares (17.0)
Employees shareholders fund 176,670 shares (11.7)
-------------------------------------------------------------------------------------------------------------
Total 813,370 shares
(53.9)
Activity Product/Service Description
-------------------------------------------------------------------------------
Manufacturing Electro-chemical materials
President Mr. Toshinobu Odajima
Nationality: Japan
Director Mr. Shoichi Tanaka
Nationality: Japan
Director Ms. Taeko Kobayashi
Nationality: Japan
Director Mr. Toshihiro Odajima
Nationality: Japan
Auditor Ms. Masako Odajima
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Toshinobu Odajima
President and representative director
Born on December 1, 1968
Home address: 593, Nishi-oh-hata-cho, Chuo-ku, Niigata-shi, Niigata 951-8104
Currency: (local currency - Jp. yen)
-------------------------------------------------------------------------------------
Year | Sales | Net Income
-------------------------------------------------------------------------------------
|
2009 |
15,687,000,000 |
534,000,000 |
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2010 |
18,144,000,000 |
1,340,000,000 |
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2011 |
23,234,000,000 |
1,900,000,000 |
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2012 |
24,832,000,000 |
1,360,000,000 |
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2013 |
24,828,000,000 |
1,383,000,000 |
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2014 |
25,400,000,000 |
3,700,000,000 |
*Book Closing*
============
March 31st
*Financials*
==========
As a private limited company, no official financial statement is required to be disclosed publicly.
*Bank Details*
============
Bank Name : Hokuetsu Bank, Ltd.
Branch : Niigata
Bank Name : Shoko Chukin Bank, Ltd.
Branch : Niigata
*Credit Opinion*
=============
Subject is a local manufacturer, located in Niigata City, specializing in electro-chemical materials for electronics industries.
A steady performance has been maintained for years thanks to firmly established global network.
Net income jumped up for Mar. 2014 term blessed with sales growth and a weaker currency.
Customers are all excellent and reliable companies.
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 present.
Our standard suggestion would be up to US$ 6 million on terms of 90 days.
Branch name: Business head quarters
Branch address: Nigorikawa, Kita-ku, Niigata-shi
----------------------------------------------------------------------------------------------------
Branch name: Tokyo sales office
Branch address: Takanawa, Minato-ku, Tokyo
----------------------------------------------------------------------------------------------------
Branch name: Osaka sales office
Branch address: Katamachi, Miyakojima-ku, Osaka-shi, Osaka pref.
*Main Products & Services*
======================
Development, manufacture and sales of the following electro-chemical materials:
Insulation materials (60%)
Electro-conductive materials (40%)
Tsukioka plant: Shibata-shi, Niigata pref.
R&D(Namics Techno-core): Kita-ku, Niigata-shi, Niigata pref.
Subsidiaries at home and abroad
*Address*
=========
Registered address is the same as the operational address.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
1946 Started business.
February 17, 1947 Incorporated under the name of “Hokuriku Toryo K.K.” to
manufacture ordinary coating and painting materials.
1973 Relocated the head office and plant to the current address.
1980 Totally changed the products from ordinary coating materials to
electro-chemical materials.
1996 Took the current company name.
1998 Founded Namics Techno-core.
ISO9001 certified.
2001 QS9000 certified.
2003 ISO14001 certified.
2009 ISO/TS16949 certified.
*Suppliers*
=========
Toyo Chemical Industries Co., Ltd.(20%)
KISCO Corporation
Kanae Corporation
Kongoh Pharmaceutical Co., Ltd.
Musashi Shring Co., Ltd.
*Customers*
==========
Murata Corporation
TDK Corporation
Panasonic Corporation
Fujitsu Ltd.
Taiyo Yuden Co., Ltd.
SONY Corporation
Kyocera Corporation
Toshiba Corporation
Hitachi Ltd.
NEC Corporation
ASE Corporation
Overseas sales subsidiaries: USA, Germany, Singapore, R.O.K., China and Taiwan
Overseas sales agents: Taiwan(2), China(2), Denmark, Italy, France, Switzerland, Israel and Russia
Company name: TAC Engineering Inc.
Country: Japan
Status: Affiliate
----------------------------------------------------------------------------------------------------
Company name: Namics Technologies, Inc.
Country: USA
Status: Subsidiary
----------------------------------------------------------------------------------------------------
Company name: Shanghai Namics Electronic Materials Co., Lts.
Country: China
Status: Subsidiary
----------------------------------------------------------------------------------------------------
*Subsidiaries & Affiliates*
=====================
As of March 31, 2014 the subject owns and controls a total of 20 subsidiaries and affiliates at home and abroad.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.15 |
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1 |
Rs.94.24 |
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Euro |
1 |
Rs.73.30 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared by
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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.