|
Report No. : |
330202 |
|
Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ISOWA CORPORATION |
|
|
|
|
Registered Office : |
66 Nishiyacho Kasugai City Aichi-Pref 486-0908 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
December, 1952 |
|
|
|
|
Com. Reg. No.: |
1800-01-011582 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of Corrugate
Machinery |
|
|
|
|
No. of Employees : |
220 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
ISOWA CORPORATION
REGD NAME: KK
Isowa
MAIN OFFICE: 66
Nishiyacho Kasugai City Aichi-Pref 486-0908 JAPAN
Tel: 0568-31-3101 Fax: 0568-31-5541
*..
Registered at: 2-18-34 Heian Kitaku Nagoya
E-Mail address: (thru
the URL)
Mfg of
corrugate machinery
Tokyo,
Osaka, Nagoya, Fukuoka, Iwate
USA,
Germany, South America
At the
caption address
HIDEYUKI
ISOWA, PRES Yasuyuki Isowa, mgn
dir
Takeo
Isowa, adviser Kazuto Kato, dir
Junji
Nakamura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 10,698 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 180 M
TREND STEADY WORTH Yen 8,788 M
STARTED 1952 EMPLOYES 220
MFR OF CORRUGATED MACHINERY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established by Gen’ichi Isowa in order to make most of his
experience in the subject line of business.
The firm has been succeeded by his descendants. Hideyuki took the pres office in Jun
2001. This is a specialized mfr of
corrugated board making machinery & equipment. Goods are exported. Clients include paper industries, corrugated
board makers, other, nationwide.
The sales volume for Mar/2014 fiscal term amounted to Yen
10,698 million, a 2% up from Yen 10,486 million in the previous term. The recurring profit was posted at Yen 423
million and the net profit at Yen 245 million, respectively, compared with Yen
660 million recurring profit and Yen 382 million net profit, respectively, a
year ago.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 430 million and the net profit at Yen 250 million,
respectively, on a 3% rise in turnover, to Yen 11,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Dec 1952
Regd No.: 1800-01-011582 (Nagoya-Kitaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.44 million shares
Issued:
360,000 shares
Sum: Yen 180 million
Major shareholders (%): Nagoya Small & Medium
Business Investment & Consultation Co (25), Hideyuki Isowa (6), Yasuyuki
Isowa (3)
No. of shareholders: 27
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures corrugated machinery,
equipment, spare parts, components, other (--100%)
Clients: [Mfrs, wholesalers] Rengo Co,
Morishigyo Group, Oji Container, Tomoku Co, Dynapac Co, Chuoh Pack Ind, Fuji
Service, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kawamoto Kozai Co,
Watanabe Electric, Kato Yokichi Shoten, Nichiden Corp, other
Payment record: no
complaints
Location:
Business area in Kasugai, Aichi-Pref.
Office premises at the caption address are owned and maintained
satisfactory.
Bank References:
MUFG
(Azuma)
SMBC
(Nagoya-Sakae)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
11,000 |
10,698 |
10,486 |
10,315 |
|
Recur.
Profit |
|
430 |
423 |
660 |
|
|
Net
Profit |
|
250 |
245 |
382 |
265 |
|
Total
Assets |
|
|
13,491 |
12,767 |
12,253 |
|
Current
Assets |
|
|
9,951 |
9,441 |
|
|
Current
Liabs |
|
|
4,269 |
3,765 |
|
|
Net
Worth |
|
|
8,788 |
8,502 |
7,889 |
|
Capital,
Paid-Up |
|
|
180 |
180 |
180 |
|
Div.Ttl
in Million (¥) |
|
|
21 |
35.9 |
21.5 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.82 |
2.02 |
1.66 |
10.32 |
|
Current Ratio |
|
.. |
233.10 |
250.76 |
.. |
|
N.Worth Ratio |
|
.. |
65.14 |
66.59 |
64.38 |
|
R.Profit/Sales |
|
3.91 |
3.95 |
6.29 |
.. |
|
N.Profit/Sales |
|
2.27 |
2.29 |
3.64 |
2.57 |
|
Return On Equity |
|
.. |
2.79 |
4.49 |
3.36 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.