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Report No. : |
324199 |
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Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
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Name : |
NISHIHARA SHOKAI CO LTD |
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Registered Office : |
10-21 Yojiro Kagoshima 890-0062 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
March 1981 |
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Com. Reg. No.: |
3400-01-003270 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of foods (frozen & prepared), cooking oil, seasoning, dried foodstuffs |
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No. of Employees : |
178 |
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 Limit : |
Yen 141.4 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 |
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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.
|
Source
: CIA |
NISHIHARA SHOKAI CO LTD
REGD NAME: KK Nishihara Shokai
MAIN OFFICE: 1-10-21 Yojiro Kagoshima 890-0062 JAPAN
Tel: 099-250-8000 Fax: 099-250-8008
* The given Postal Code No. is for its Fukuoka Branch (independent group entity)
URL: http//:www.nishihara-shokai.co.jp
E-mail: (thru
the URL)
Import, wholesale of foods (frozen & prepared), cooking
oil, seasoning, dried foodstuffs
Fukuoka, Kobe, Tokushima, Takamatsu, Utsunomiya
(subcontracted)
KAZUYUKI
NISHIHARA, PRES Kazuyoshi Nishihara, ch
Hirofumi
Nagai, dir Ken’ichi Kitasono, dir
Shoichi
Fukuzaki, dir Keiji Sasaki, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 17,727 M
PAYMENTS NO
COMPLAINTS CAPITAL YEN 50 M
TREND STEADY WORTH Yen 2,022 M
STARTED 1981 EMPLOYES 178
IMPORTER & WHOLESALER SPECIALIZING IN FOODSTUFF
FINANCIAL
SITUATION CONSIDERED FAIR TO GOOD AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 141.4 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established originally in 1971 by father of Kazuyoshi Nishihara in order to
make most of his experience in the subject line of business, on his
account. Kazuyuki is his grandson, who
took the pres office in Mar 2012. This
is a trading firm, owned & operated essentially by Nishihara families, for
import and wholesale of foodstuffs: frozen & prepared/precooked foods,
caviar, dried foods, edible oils, seasonings, other. Group consists of 17 subsidiaries covering
the nationwide operations. Active in
overseas expansion to China, Hong Kong, Singapore, other. Clients include hotels, restaurants, Japanese
restaurants & pubs, wedding palaces, other.
The sales volume for Feb/2014
fiscal term amounted to Yen 17,727 million, a 19% up from Yen 14,898 million in
the previous term. The recurring profit
was posted at Yen 117 million and the net profit at Yen 21 million,
respectively, compared with Yen 517 million recurring profit and Yen 238
million net profit, respectively, a year ago.
.
For the term that ended Feb
2015 the recurring profit was projected at Yen 130 million and the net profit
at Yen 30 million, respectively, on a 5% rise in turnover, to Yen 18,600
million. Final results are yet to be
released.
The financial situation is
considered FAIR to GOOD and good for ORDINARY business engagements. Max credit limit is estimated at Yen 141.4
million, on 30 days normal terms.
Date Registered: Mar 1981
Regd No.: 3400-01-003270 (Kagoshima-Kagoshima)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 100,000 shares
Sum: Yen 50
million
Major shareholders (%): Nishihara Shokai
Management (39.1), Kazuyoshi Nishihara (13.2)
No. of shareholders: 15
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales foodstuffs: frozen foods, prepared/precooked foods, dried foods,
seasonings, edible oils, caviar, other (--100%).
Group
consists of 17 subsidiaries covering nationwide territories.
Clients: [Hotels, restaurants] Nishihara Shokai (Kyushu, Chugoku,
Kanto, Tokai, Kansai), Super Chef, Fresh Foods Corp, other
No. of
accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Fresh Foods Corp, Samioh Foods, Fukutome Meat Packers, Fukuoka
Uoichiba, Marubeni Chikusan Corp, Hohsui Corp, Takumi Foods, Nippon Meat
Packers, other
Payment record: No Complaints
Location: Business area in Kagoshima. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
Minami
Nippon Bank (Yojirogahama)
Mizuho
Bank (Kagoshima)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2015 |
28/02/2014 |
28/02/2013 |
|
|
Annual Sales |
|
18,600 |
17,727 |
14,898 |
|
Recur. Profit |
|
130 |
117 |
517 |
|
Net Profit |
|
30 |
21 |
238 |
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Total Assets |
|
|
19,566 |
19,164 |
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Current Assets |
|
|
3,971 |
4,309 |
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Current Liabs |
|
|
4,728 |
4,304 |
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Net Worth |
|
|
2,022 |
1,950 |
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Capital, Paid-Up |
|
|
50 |
50 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
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<Analytical
Data> |
|
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.92 |
18.99 |
5.53 |
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Current Ratio |
|
.. |
83.99 |
100.12 |
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N.Worth Ratio |
|
.. |
10.33 |
10.18 |
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R.Profit/Sales |
|
0.70 |
0.66 |
3.47 |
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N.Profit/Sales |
|
0.16 |
0.12 |
1.60 |
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Return On Equity |
|
.. |
1.04 |
12.21 |
Notes: Forecast (or estimated) figures for the 28/02/2015 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.67 |
|
Euro |
1 |
Rs.70.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
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Report Prepared
by : |
VNT |
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.