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Report No. : |
321510 |
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Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
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Name : |
FUJIDEN INTERNATIONAL CORPORATION |
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Registered Office : |
Hase Bldg 8F, 3-2-8 Bingomachi Chuoku Osaka541-0051 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1967 |
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Com. Reg. No.: |
1200-01-088419 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, exports and wholesales iron & steel products, non-ferrous
products (96%), machinery & equipment, others (--4%) |
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No. of Employees : |
19 |
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 325.6 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 |
FUJIDEN
INTERNATIONAL CORPORATION
Fujiden KK
Hase Bldg 8F, 3-2-8 Bingomachi Chuoku Osaka541-0051 JAPAN
Tel: 06-6261-2471 Fax:
06-6261-5489
E-Mail address: info@fujiden.co.jp
ACTIVITIES: Import, export, wholesale of steel
products, non-ferrous products, machinery
BRANCHES: Tokyo
OVERSEAS: Taiwan (3), China, Malaysia, Uganda
OFFICERS: RYUICHI YOSHIDA, PRES
Tetsuyuki Nakamura, advisor
Hideaki Arashima, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 9,805 M
PAYMENTS SLOW BUT CORRECT CAPITAL YEN
50 M
TREND SLOW WORTH Yen 1,116 M
STARTED 1967 EMPLOYES 19
COMMENT: TRADING FIRM SPECIALIZING IN STEEL
PRODUCTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 325.6 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Ryuichi Yoshida in order to make
most of his experience in the subject line of business. This is a trading from for import, export and
wholesale of steel products, non-ferrous products, machinery, other. Exports to Africa, S/E Asia, other. Operates overseas office/JV in China, Taiwan
(3), Malaysia and Uganda. Clients
include steel makers, wholesalers, other.
The sales volume for Mar/2014 fiscal term amounted to Yen 9,805 million,
an almost similar amount of Yen 9,884 million in the previous term. The recurring profit was posted at Yen 66
million and the net profit at Yen 98 million, respectively, compared with Yen
22 million recurring loss and Yen 128 million net profit, respectively, a year
ago.
For the term that ended Mar 2015 the recurring profit was projected at
Yen 70 million and the net profit at Yen 100 million, respectively, on a 3%
rise in turnover, to Yen 10,100 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 325.6 million, on 30 days normal terms.
Date Registered: Apr
1967
Regd No.: 1200-01-088419 (Osaka-Chuoku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 400,000 shares
Issued:
100,000 shares
Sum: Yen
50 million
Major shareholders (%): Yodogawa Steel Works Ltd* (33),
Ryuichi Yoshida (12), Satoshi Ito (8), Takayuki Onishi (8)
No. of
shareholders: 16
*.. Steel maker, Osaka, founded 1935, listed Tokyo S/E, capital Yen
23,220 million, turnover Yen 157,551 million, operating profit Yen 6,122
million, recurring profit Yen 7,590 million, net profit Yen 3,270 million,
total assets Yen 216,297 million, net worth Yen 144,322 million, employees
2,505, pres Takaaki Kawamoto
Nothing detrimental is known as to the commercial morality of
executives.
Overseas offices/JV’s: Fujiden
International Asia (Taiwan), Sheng Yu Steel Co Ltd (Taiwan), PCM Steel
Processing Sdn (Malaysia), Yodoko International Ltd (Taiwan), Yodoko Building
Materials Co Ltd (China), Roofings Rolling Mills Ltd (Uganda)
Activities: Imports, exports
and wholesales iron & steel products, non-ferrous products (96%), machinery
& equipment, others (--4%)
(Handling Items):
Iron & Steel
Products: hot rolled steel coil, cold rolled steel coil, hot dip zinc-coated steel
coil, pre-painted hot-dip zinc-coated steel coil, hot dip 55% aluminum-zinc
alloy coated steel coil, pre-painted hot dip 55% aluminum-zinc alloy coated
steel coil, porcelain enamel coated steel sheet, sub raw materials as aluminum
ingot, paint, others;
Rolls: work roll for hot
rolled heavy plate mill, work roll for hot strip mill, work roll for cold
rolling mill, roll for paper mill, roll for continuous galvanizing line (CGL),
roll for mfg process of plastic/rubber products, other;
Machinery &
Equipment: continuous galvanizing line, continuous color coating line, various
forming machine, Barrel corrugating machine, shearing machine, slitting
machine, pressing machine, bending machine, other.
Clients: [Mfrs,
wholesalers] Exports to Africa, China, S/E Asia, ASEAN countries, other.
Domestically: Yodogawa Steel Corp, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Yodogawa Steel Corp (40%), China Steel, Sengyu, Rio Tint Japan,
Koyo Ind, Daido Kogyo Co, JFE Shoji Trade Corp, Sengyu, Koyo Sangyo Co, other
Imports from Taiwan, China, other
Payment record: Slow but correct
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Kawaramachi)
Resona Bank (Osaka)
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 |
|
10,100 |
9,805 |
9,884 |
13,953 |
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Recur. Profit |
|
70 |
66 |
-22 |
82 |
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Net Profit |
|
100 |
98 |
128 |
57 |
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Total Assets |
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|
2,769 |
2,558 |
3,864 |
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Current Assets |
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|
1,877 |
1,730 |
3,013 |
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Current Liabs |
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|
1,442 |
1,429 |
2,964 |
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Net Worth |
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1,116 |
999 |
850 |
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Capital, Paid-Up |
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|
50 |
50 |
50 |
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Div.Ttl in Million (¥) |
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|
3.43 |
3.43 |
3.43 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
3.01 |
-0.80 |
-29.16 |
-3.17 |
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Current Ratio |
|
.. |
130.17 |
121.06 |
101.65 |
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N.Worth Ratio |
|
.. |
40.30 |
39.05 |
22.00 |
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R.Profit/Sales |
|
0.69 |
0.67 |
-0.22 |
0.59 |
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N.Profit/Sales |
|
0.99 |
1.00 |
1.30 |
0.41 |
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Return On Equity |
|
.. |
8.78 |
12.81 |
6.71 |
Notes: Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.05 |
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|
1 |
Rs.99.04 |
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Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.