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Report No. : |
310768 |
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Report Date : |
09.03.2015 |
IDENTIFICATION DETAILS
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Name : |
JGC TRADING & SERVICES CO LTD |
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Registered Office : |
Queen’s Tower A 12F, 2-3-1 Minato Mirai Nishiku Yokohama 220-0012 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
February, 1968 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Petroleum/Chemical Plant
Equipment & Machinery. |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limits : |
YEN 297.7 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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.
|
Source
: CIA |
JGC TRADING &
SERVICES CO LTD
REGD NAME: Nikki Shoji KK
MAIN OFFICE: Queen’s Tower A 12F, 2-3-1 Minato
Mirai Nishiku Yokohama 220-0012 JAPAN
Tel:
045-682-8692 Fax: 045-682-8693
URL: http://www.jgctrading.com
E-Mail
address: (thru the
URL)
Import, export, wholesale of petroleum/chemical plant
equipment & machinery
Nil
Singapore (Partners)
KEN’ICHI HANAHARA, PRES Fumihiro
Kodama, s/mgn dir
Akira Sasaki, dir Koshi
Shima, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 5,699 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 40 M
TREND SLOW WORTH Yen 31,166 M
STARTED 1968 EMPLOYES 25
TRADING FIRM SPECIALIZING IN PLANT MACHINERY &
EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 297.7 MILLION, ON 30 DAYS
NORMAL TERMS.
This is a trading firm for import, export and wholesale of
petroleum & chemical plant machinery & equipment, other. The firm is affiliated to JGC Corp, plant
engineering firm, at the caption address in Yokohama, and owns a number of
shares in JGC Corp, by which the total assets amount to greater number. The owned JGC’s shares are counted on the
share market prices. 40% of the dealing
products are supplied to JGC Corp.
Clients include petroleum refiners, chemical mfrs, ship builders, other
The sales volume for Mar/2014 fiscal term amounted to Yen
5,699 million, a 14% down from Yen 6,654 million in the previous term. The recurring profit was posted at Yen 681
million and the net profit at Yen 529 million, respectively, compared with Yen
517 million recurring profit and Yen 366 million net profit, respectively, a
year ago.
For the current term ending Mar 2015 the recurring profit is
projected at Yen 730 million and the net profit at Yen 550 million,
respectively, on a 5% rise in turnover, to Yen 5,980 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max credit limit is estimated at Yen 297.7
million, on 30 days normal terms.
Date
Registered: Feb 1968
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 320,000 shares
Issued:
80,000 shares
Sum: Yen
40 million
Major shareholders (%): JGC Corp (24.5), Shima Trading (13.7),
Mitsubishi Estate Home (9.3), Nikkiso Co (9.3), Kyokuto Boeki (9.3)
No. of
shareholders: 25
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Trading firm for import, export and wholesale of petroleum & chemical plant
machinery & equipment, other (--100%)
Clients:
[Mfrs, wholesalers] JGC Corp (40%), Mitsubishi Heavy Ind, Jurong Aromatic Inc,
Chiyoda Corp, Hitachi Zosen Corp, JGC Gulf, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Shin Nippon Machinery, Sasakura Engineering Co, Coke Asia
Pacific, Elster Intronet Inc, other
Payment
record: No Complaints
Location:
Business area in Yokohama. Office
premises at the caption address are leased and maintained satisfactory.
Bank
References:
SMBC (H/O)
MUFG (Tokyo)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
5,980 |
5,699 |
6,654 |
2,611 |
|
Recur. Profit |
|
730 |
681 |
517 |
|
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Net Profit |
|
550 |
529 |
366 |
239 |
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Total Assets |
|
|
48,736 |
35,161 |
34,099 |
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Current Assets |
|
|
5,193 |
6,284 |
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Current Liabs |
|
|
2,335 |
3,959 |
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Net Worth |
|
|
31,166 |
20,676 |
21,006 |
|
Capital, Paid-Up |
|
|
40 |
40 |
40 |
|
Div.Ttl in Million (¥) |
|
|
8 |
8 |
8 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.93 |
-14.35 |
154.84 |
-21.47 |
|
Current Ratio |
|
.. |
222.40 |
158.73 |
.. |
|
N.Worth Ratio |
|
.. |
63.95 |
58.80 |
61.60 |
|
R.Profit/Sales |
|
12.21 |
11.95 |
7.77 |
.. |
|
N.Profit/Sales |
|
9.20 |
9.28 |
5.50 |
9.15 |
|
Return On Equity |
|
.. |
1.70 |
1.77 |
1.14 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.94.71 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.