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Report No. : |
320754 |
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Report Date : |
06.05.2015 |
IDENTIFICATION DETAILS
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Name : |
NYK TRADING CORPORATION |
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Registered Office : |
World Trade Center Bldg 34F, 2-4-1 Hamamatsucho Minatoku Tokyo 105-6134 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
March 1948 |
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Com. Reg. No.: |
038478 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of petroleum products, chemicals, ship machinery & equipment, plant machinery. |
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No. of Employees : |
160 |
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 Limit : |
Yen 2,792.4 Million |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused the economy to contract during the 2nd and 3rd quarters of 2014. The economy has largely recovered in the three years since the disaster, but reconstruction in the Tohoku region has been uneven due to labor shortages. 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 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. The government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which amounts to more than 240% 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 2015, although the government in 2014 decided to postpone the final phase of the increase until 2017 to give the economy time to recover from the 2014 increase. 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 |
NYK TRADING CORPORATION
REGD NAME: Yusen
Shoji KK
MAIN OFFICE: World
Trade Center Bldg 34F, 2-4-1 Hamamatsucho Minatoku Tokyo 105-6134
JAPAN
Tel: 03-5408-7113
Fax: 03-5408-7163
URL: http://www.yusenshoji.co.jp
E-Mail
address: info@yusenshoji.co.jp
Import,
export, wholesale of petroleum products, chemicals, ship machinery &
equipment, plant machinery
Nagoya,
Kobe, Hiroshima, Moji, Nagasaki, Yokohama
UK, USA,
Philippines, China (--subsidiaries)
HIDENORI
HONO, PRES Jun’ichi
Yokoyama, mgn dir
Keizo
Murakoso, mgn dir Mitsuhiko
Sunouchi, dir
Fumiya
Aoki, dir Mikishiro
Ichimura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 154,277 M
PAYMENTSSLOW
BUT CORRECT CAPITAL YEN 1,246 M
TREND STEADY WORTH Yen 5,499 M
STARTED 1948 EMPLOYES 160
TRADING FIRM SPECIALIZING IN PETROLEUM PRODUCTS, CHEMICALS & MACHINERY, AFFILIATED WITH NIPPON YUSEN KK.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 2,792.4 MILLION, 30 DAYS NORMAL TERMS
The subject company was established as a trading firm by Nippon Yusen KK, nation’s lar- gest shipping company, Tokyo (See REGISTRATION). This is a trading firm for import, export and wholesale of petroleum products, chemicals, ship & industrial machinery, other. Originally named as Hikawa Shoji KK, and in Oct 2003 the firm merged with Asahi Kiso KK and renamed as captioned. Clients & suppliers include major petroleum refineries.
The sales volume for Mar/2014 fiscal term amounted to Yen 154,277 million, a 14% up from Yen 134,894 million in the previous term, as substantially affected by the global economic downturn. The recurring profit was posted at Yen 271 million and the net profit at Yen 366 million, respectively, compared with Yen 653 million recurring profit and Yen 757 million net profit, respectively, a year ago.
For the term that ended Mar 2015 the recurring profit was projected at Yen 350 million and the net profit at Yen 375 million, respectively, on a 10% rise in turnover, to Yen 170,000 million. Final results are not yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 2,792.4 million, on 30 days normal terms.
Date Registered: Mar
1948
Regd No.: (Tokyo-Minatoku) 038478
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
90 million shares
Issued:
24,922,520 shares
Sum: Yen
1,246,126,000 million
Major shareholders (%): Nippon Yusen KK*(79.2), Showa
Shell Sekiyu (2.7) , Yamatake Corp
(2.3), MUFG (2.2), Yanmar Co (1.9), Daihatsu Diesel (1.9), other
No. of shareholders: 120
*
Japan’s largest shipping company, founded 1885, listed Tokyo, Nagoya S/E’s,
capital Yen 144,319 million, turnover Yen 2,237,239 million, operating profit
Yen 44,995 million, recurring profit Yen
58,424 million, net profit Yen 33,049 million, total assets Yen 2,610,735 million, net worth Yen 766,940
million, employees 32,342, pres Tadashi
Naito
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Trading firm for imports, exports and wholesales: Petroleum products (fuel oil), Chemical ingredients & plastic products, solar energy generation equipment, Industrial machinery & equipment, energy saving systems, other (--100%)
Clients: [Oil
refineries, shipping companies, wholesalers] Nippon Yusen Kaisha, Mitsubishi Corp, Canon Inc,
Mitsubishi Heavy Ind, Asahi Kasei Corp, Mitsui & Co, Kawasaki Heavy Ind, Sinanen Co, other.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Oil refineries, mfrs, wholesalers]
Showa Shell Sekiyu, JX Nippon Oil & Energy Corp, Shell Chemicals Japan,
Yamatake Corp, Yanmar Co, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (H/O)
Mitsubishi UFJ Trust
Bank (H/O)
Relations: Satisfactory
(In Million
Yen)
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
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170,000 |
154,277 |
134,894 |
144,887 |
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Recur.
Profit |
|
350 |
271 |
653 |
512 |
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Net
Profit |
|
375 |
366 |
757 |
119 |
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Total
Assets |
|
|
27,299 |
24,667 |
26,312 |
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Current
Assets |
|
|
23,546 |
21,859 |
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Current
Liabs |
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19,966 |
17,694 |
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Net
Worth |
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5,499 |
5,550 |
4,839 |
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Capital,
Paid-Up |
|
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1,246 |
1,246 |
1,246 |
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Div.P.Share(¥) |
|
|
6.00 |
10.00 |
3.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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10.19 |
14.37 |
-6.90 |
19.07 |
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Current Ratio |
|
.. |
117.93 |
123.54 |
.. |
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N.Worth Ratio |
|
.. |
20.14 |
22.50 |
18.39 |
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R.Profit/Sales |
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0.21 |
0.18 |
0.48 |
0.35 |
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N.Profit/Sales |
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0.22 |
0.24 |
0.56 |
0.08 |
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Return On Equity |
|
.. |
6.66 |
13.64 |
2.46 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.52 |
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|
1 |
Rs.95.96 |
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Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
VNT |
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.