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Report No. : |
332061 |
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Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
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Name : |
ALL NIPPON AIRWAYS TRADING CO LTD |
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Registered Office : |
Shiodome City Center, 1-5-2 Higashi-Shimbashi Minatoku Tokyo 105-7109 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
Oct., 1970 |
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Com. Reg. No.: |
(Tokyo-Minatoku) 036985 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Trading house
specializing in aircraft & parts, airport shop operation, machinery, pulp
& paper, foodstuffs, semiconductors, other. |
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No. of Employees : |
394 |
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 : |
Yen 1,646.9 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times
since 2008. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 2014 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. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
ALL NIPPON AIRWAYS TRADING CO LTD
REGD NAME: Zen-Nikku Shoji KK
MAIN OFFICE: Shiodome City Center, 1-5-2
Higashi-Shimbashi Minatoku Tokyo 105-7109 JAPAN
Tel: 03-6735-5011 Fax: 03-6735-5035
E-Mail address: webmaster@anatc.com
Trading house
specializing in aircraft & parts, airport shop operation, machinery, pulp
& paper, foodstuffs, semiconductors, other
Tokyo, Okinawa, other (Tot 5)
Paris, Singapore
KEN NISHIMURA,
PRES Hideto Osada,
s/mgn dir
Hiroe Iizuka,
s/mgn dir Hirofumi Maru, mgn
dir
Hajima Hino, mgn
dir Toshihiko Adachi, mgn
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 70,132 M
PAYMENTSREGULAR CAPITAL Yen 1,000 M
TREND SLOW WORTH Yen 13,984 M
STARTED 1970 EMPLOYES 394
GENERAL TRADING HOUSE OWNED BY ANA HOLDINGS INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 1,646.9 MILLION, 30 DAYS NORMAL TERMS
The subject
company was established as a trading house by All Nippon Airways Co Ltd (known
as ANA Airways), Japan’s second largest airline, Tokyo, now ANA Holdings Inc
(See REGISTRATION), in order to
procure aircraft parts & components for the parent. In Feb 1973 registered as a domestic travel
agent. The firm has since grown into a
general trading house handling aircraft parts, aircraft leasing, operation of
in-flight shops, other.
The sales volume
for Mar/2015 fiscal term amounted to Yen 70,132 million, a 10% down from Yen
77,672 million in the previous term. The
recurring profit was posted at Yen 2,041 million and the net profit at Yen
1,918 million, respectively, compared with Yen 2,356 million recurring profit
and Yen 1,487 million net profit, respectively, a year ago.
For the current
term ending Mar 2016 the recurring profit is projected at Yen 2,150 million and
net profit at Yen 2,000 million, respectively, on a 3% rise in turnover, to Yen
72,500 million. Weaker Yen may help increase
sales in Yen terms, including foreign visitors to Japan.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is estimated at Yen 1,646.9 million, on 30 days
normal terms.
Date Registered:
Oct 1970
Regd No.:
(Tokyo-Minatoku)
036985
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2.6
million shares
Issued:
654,000 shares
Sum: Yen
1,000 million
Major
shareholders (%): ANA Holdings Inc* (100)
.. *.. Shares market of domestic flights
with Japan Airline, Tokyo, founded 1952, listed Tokyo S/E, capital Yen 318,789
million, sales Yen 1,713,457 million, operating profit Yen 91,451 million,
recurring profit Yen 67,129 million, net profit Yen 39,239 million, total
assets Yen 2,302,437 million, net worth Yen 798,280 million, employees 33,719,
pres Shinya Katanozaka
Nothing detrimental is known as to the
commercial morality of executives.
Activities: A general trading
house for import, export, wholesale of: aircraft parts & components,
in-flight store operations, pulp & paper, foodstuffs, aircraft (including
leasing), others (--100%).
Clients: [Mfrs,
wholesalers, airlines, consumers] All Nippon Airways (25%), ANA Festa (7%), ANA
Foods (7%), IHI Corp, Seven & I Food Systems, other.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] ANA Trading Corp, Renesas Electronics Corp, Enomoto Co, Japan Pulp
& Paper, Oji Pulp & Paper, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Shimbashi)
SMBC (H/O)
Relations: Satisfactory
(In Million Yen):
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
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Annual
Sales |
|
72,500 |
70,132 |
77,672 |
70,625 |
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Recur.
Profit |
|
2,150 |
2,041 |
2,356 |
2,215 |
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Net
Profit |
|
2,000 |
1,918 |
1,487 |
1,125 |
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Total
Assets |
|
|
45,449 |
46,560 |
43,687 |
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Current
Assets |
|
|
31,497 |
34,910 |
36,661 |
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Current
Liabs |
|
|
20,820 |
22,272 |
23,753 |
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Net
Worth |
|
|
13,984 |
12,251 |
10,997 |
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Capital,
Paid-Up |
|
|
1,000 |
1,000 |
1,000 |
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Div.Ttl
in Million (¥) |
|
|
1,098 |
776 |
296 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
3.38 |
-9.71 |
9.98 |
-0.14 |
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Current Ratio |
|
.. |
151.28 |
156.74 |
154.34 |
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N.Worth Ratio |
|
.. |
30.77 |
26.31 |
25.17 |
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R.Profit/Sales |
|
2.97 |
2.91 |
3.03 |
3.14 |
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N.Profit/Sales |
|
2.76 |
2.73 |
1.91 |
1.59 |
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Return On Equity |
|
.. |
13.72 |
12.14 |
10.23 |
Notes: Forecast (or estimated) figures for the 31/03/2016
Fiscal Term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
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|
1 |
Rs.97.65 |
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Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.