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Report No. : |
302798 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
NOMURA TRADING CO LTD |
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Registered Office : |
Kamiyacho Central Place, 4-3-13 Toranomon Minatoku Tokyo 105-0001 |
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Country : |
Japan |
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Date of Incorporation : |
June 1976 |
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Com. Reg. No.: |
(Osaka-Chuoku) 074101 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Imports, exports and wholesales foods, consumer goods,
industrial machinery & materials. |
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No. of Employee : |
251 |
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 : |
Slow but correct |
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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) |
|
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 |
NOMURA TRADING CO LTD
REGD NAME: Nomura
Boeki KK
MAIN OFFICE: Kamiyacho
Central Place, 4-3-13 Toranomon Minatoku Tokyo 105-0001 JAPAN
Tel: 03-3438-7600 Fax: 03-3438-7625
*.. Registered at: 1-7-3 Azuchimachi Chuoku Osaka 541-0052 JAPAN
URL: http://www.nomuratrading.co.jp/
E-Mail
address: info@nomuratrading.co.jp
ACTIVITIES: Import, export, wholesale of livestock products, farm &
marine products, textiles
BRANCHES: Tokyo, Fukuoka
OVERSEAS: (Branch Offices): Singapore, Frankfurt, Seattle,
Taipei, Kaohsiung
(Rep
Offices): Sydney, Ho Chi Minh, Hanoi, Beijing, Dalian
(Affiliated):
Yangon, Medan, Rio Janeiro
(JV’s):
China (5), Hong Kong, Indonesia (5), Laos, Thailand (6), Vietnam (4)
(Invested
Enterprises): China (3), Indonesia (3), Thailand (5), Vietnam (5),
Germany
(1)
OFFICER(S): KATSUSHIGE MIYASHITA, PRES Hideo Fujita, mgn dir
Shizuya Shimoji, dir kira
Sumida, dir
Ryoji Yuasa, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 79,896 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
2,500 M
TREND UP WORTH Yen 4,802 M
STARTED 1976 EMPLOYES 251
COMMENT: TRADING HOUSE SPECIALIZING IN FOODSTUFFS,
APPAREL, OTHERS, OWNED BY NOMURA
TRADING HOLDINGS CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established originally in 1917 by Tokushichi Nomura in order
to make most of his experience in foreign trading, on his account. This is a trading house specializing in
import, export and wholesale of foods, apparel, industrial materials, other. In Apr 2002, due to financial difficulties
the firm transferred its business rights to Alton Shoji KK (Shoji means
trading), and restructured by forming a holding company, Nomura Trading
Holdings Co Ltd, at the caption address (See REGISTRATION). The corporate
name survived as captioned. In Apr 2005,
integrated business structure into three major business units: Food Business
Units (Farm/Marine/Livestock business); Consumer Products Business Unit
(Apparel, Housing, Building Materials business) and Industrial Business Unit
(Materials, Chemical, Machinery & Electronics). Operates 23 overseas JV
enterprises/affiliates.
The sales volume for Mar/2014
fiscal term amounted to Yen 79,896 million, a 10% up from Yen 72,749 million in
the previous term. The recurring profit
was posted at Yen 1,140 million and the net profit at Yen 711 million,
respectively, compared with Yen 1,434 million recurring profit and Yen 1,016
million net profit, respectively, a year ago.
For the current term ending Mar
2015 the recurring profit is projected at Yen 1,200 million and the net profit
at Yen 750 million, respectively, on a 5% rise in turnover, to Yen 84,000
million.
The financial situation is considered maintained FAIR and
good for ORDINARY
business engagements.
Date Registered: Jun 1976
Regd No.: (Osaka-Chuoku) 074101
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 8
million shares
Issued:
2 million shares
Sum: Yen 2,500
million
Major shareholders (%):
Nomura Trading Holdings Co Ltd*(100)
*.. Holding company, holding
company, founded 2002, at the caption address, founded 1925, capital Yen 1,000 million, sales Yen 861,808 million, operating
profit Yen, recurring profit Yen 825,557 million, net profit Yen 797,526 million, total assets Yen 2,748,233
million, net worth Yen 2,626,968 million, employees (consigned), pres Katsushige Miyashita
Nothing detrimental is known as to the commercial morality
of executives.
Activities: Imports, exports and wholesales foods,
consumer goods, industrial machinery & materials, others:
(Sales breakdown by divisions):
Food Business Unit (41%): Agricultural products (coffee
beans, grains, edible oils, spices, preparation
with cocoa, sugar, milk), Marine products (mackerel, capelin, horse mackerel,
herring, salmon, other), Animal products (meat, sausages, hams, other meat
products), Wellness goods (medical materials, health foods, food additives,
collagen, placenta, pet foods);
Consumer Products Unit (17%): Apparel (garments for men &
women, kids wear, young casual wear, sports wear, brands goods). Household
goods (bedding, furniture, home appliances, kitchen utensils, brand name
ceramics, plywood, jointed wood, lumber, home improvement store materials,
office furniture), Building materials (construction materials, interior
fixtures, wood floor materials);
Industrial business Unit (42%): machine tools, plastic
injection molding machines, knockdown parts for gasoline dispensing pumps, wind
power generators, environmental equipments, inspection machines for mobile
phones & LCD displays, elastomers, iron ore, cement clinker, blast furnace
slag, zinc powder, mercury, manganese, plastics, dye pigments, other,
Overseas Trading Ratio (90%): Asia 65%; other regions 25%
Clients: [Meat packers, food processors,
wholesalers] Nippon Meat Packers, Key Coffee, Nippon Crown Corp, Food Agency, Meiji Seika, Takeda Kirin Foods,
Osaka Uoichiba, Hasec, Murachiku Co, other
No. of accounts: 2,000
Domestic areas of activities:
Nationwide
Suppliers: [Chemical mfrs, wholesalers] Tosoh
Corp, Sumitomo Metal Ind, Ube Ind, Mitsubishi Heavy Ind, Clayton Polymer Japan,
Aron Kasei Murachiku, Denki Kagaku Kogyo, Brother Sales, other.
Payment record: Slow but Correct
Location:
Business area in Tokyo. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
Resona
Bank (Ohtemachi)
Mizuho
Bank (Yaesuguchi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
84,000 |
79,896 |
72,749 |
79,754 |
|
Recur.
Profit |
|
1,200 |
1,140 |
1,434 |
1,339 |
|
Net
Profit |
|
750 |
711 |
1,016 |
1,229 |
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Total
Assets |
|
|
30,280 |
26,931 |
28,668 |
|
Current
Assets |
|
|
27,547 |
24,494 |
26,112 |
|
Current
Liabs |
|
|
24,083 |
21,005 |
22,516 |
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Net
Worth |
|
|
4,802 |
4,903 |
4,957 |
|
Capital,
Paid-Up |
|
|
2,500 |
2,500 |
2,500 |
|
Div.P.Share(¥) |
|
|
14,255.81 |
14,236.16 |
20,000.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.14 |
9.82 |
-8.78 |
-6.72 |
|
Current Ratio |
|
.. |
114.38 |
116.61 |
115.97 |
|
N.Worth Ratio |
|
.. |
15.86 |
18.21 |
17.29 |
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R.Profit/Sales |
|
1.43 |
1.43 |
1.97 |
1.68 |
|
N.Profit/Sales |
|
0.89 |
0.89 |
1.40 |
1.54 |
|
Return On Equity |
|
.. |
14.81 |
20.72 |
24.79 |
Notes: Forecast
figures for the 31/03/2015 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.93.27 |
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Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.