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Report No. : |
324388 |
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Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
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Name : |
SHIMA TRADING CO LTD |
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Registered Office : |
2-12-14 Ginza Chuoku Tokyo 104-0061 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
July 1921 |
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Com. Reg. No.: |
0100-01-045959 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of industrial chemicals, lubricating oils, machinery, other |
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No of Employees
: |
141 |
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 1,446.6 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
SHIMA
TRADING CO LTD
Shima Boeki KK
2-12-14 Ginza Chuoku Tokyo 104-0061 JAPAN
Tel: 03-3542-3111 Fax: 03-3542-3345
*.. Your 1047-0061 is a mistake;
Japanese Postal Code No. is 7-digit as above
URL: http://www.shima-tra.co.jp/
E-Mail address: (thru the URL)
Import, wholesale of industrial
chemicals, lubricating oils, machinery, other
Osaka, Nagoya
USA, China, Singapore, Malaysia,
Taiwan, Korea, Thailand, Indonesia (--subsidiaries)
KOSHI SHIMA, PRES Shin’ichiro Taki, s/mgn dir
Keitaro Hirai, mgn dir Kazuki Takahashi, mgn dir
Motoshi Yoshimura, dir Masatomo Nakamura, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 39,021 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 330 M
TREND UP WORTH Yen 9,273 M
STARTED 1921 EMPLOYES 141
TRADING FIRM SPECIALIZING IN
INDUSTRIAL CHEMICALS, MACHINERY, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1,446.6
MILLION, 30 DAYS NORMAL TERMS
The subject company was established
originally in 1905 by Sadajiro Shima, on his account, for wholesaling
industrial chemicals & machinery.
Incorporated in 1921 the firm has been succeeded by his
descendants. Koshi Shima took the pres
office in Dec 1994. This is a trading
firm for import, export and wholesale of industrials chemicals, pharmaceuticals,
lubricating oils, plastics, machinery, other.
Operates 8 overseas subsidiaries for import/export businesses, with
Indonesian subsidiary established in Oct 2014.
The sales volume for Sept/2014 fiscal
term amounted to Yen 39,021 million, a 2% up from Yen 38,323 million in the
previous term. The recurring profit was
posted at Yen 1068 million and the net profit at Yen 617 million, respectively,
compared with Yen 1,197 million recurring profit and Yen 697 million net
profit, respectively, a year ago.
For the current term ending Sept
2015 the recurring profit is projected at Yen 1,150 million and the net profit
at Yen 650 million, respectively, on a 5% rise in turnover, to Yen 41,000
million. The newly opened Indonesian
subsidiary will contribute in full-term.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,446.6
million, on 30 days normal terms.
Date Registered:
Jul 1921
Regd No.: 0100-01-045959
(Tokyo-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 28
million shares
Issued:
7.56 mill shares
Sum: Yen
330 million
Major
shareholders (%): Koshi Shima
(20), Employees’ S/Holding Assn (13), NGC Corp (5)
No. of shareholders: 95
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Imports, exports and wholesales industrial chemicals, fine chemicals, pharmaceutical
& cosmetic materials, plastics, electronics (55%), lubricating oils,
additives, oils & fats (17%), machinery & machine parts, metal products
(24%), food/confectionery materials, others (--4%). (% is all about)
Imports/Exports (50%).
Clients:
[Mfrs, wholesalers] Shima American Corp, Toppan Printing, FIC America, Futaba
Indiana of America, other.
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Futaba Trading, Mitsui Chemical, Mitsubishi Chemical, Nippon
Kayaku, Kao Corp, Sanyo Chemical Ind, Sonneborn Inc, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
SMBC
(Tokyo)
MUFG
(Kyobashi)
Relations:
Satisfactory
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Terms Ending: |
30/09/2015 |
30/09/2014 |
30/09/2013 |
30/09/2012 |
|
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Annual Sales |
|
41,000 |
39,021 |
38,328 |
37,860 |
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Recur. Profit |
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1,150 |
1,068 |
1,197 |
1,289 |
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Net Profit |
|
650 |
617 |
697 |
712 |
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Total Assets |
|
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19,245 |
19,478 |
19,158 |
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Current Assets |
|
|
17,410 |
17,557 |
17,775 |
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Current Liabs |
|
|
9,532 |
10,363 |
10,677 |
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Net Worth |
|
|
9,273 |
8,711 |
8,070 |
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Capital, Paid-Up |
|
|
330 |
330 |
330 |
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Div.Ttl in Million (¥) |
|
|
56.1 |
56.1 |
62.8 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.07 |
1.81 |
1.24 |
-3.06 |
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Current Ratio |
|
.. |
182.65 |
169.42 |
166.48 |
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N.Worth Ratio |
|
.. |
48.18 |
44.72 |
42.12 |
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R.Profit/Sales |
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2.80 |
2.74 |
3.12 |
3.40 |
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N.Profit/Sales |
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1.59 |
1.58 |
1.82 |
1.88 |
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Return On Equity |
|
.. |
6.65 |
8.00 |
8.82 |
Notes: Forecast (or estimated)
figures for the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.57 |
|
|
1 |
Rs. 99.66 |
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Euro |
1 |
Rs. 70.92 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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 |
-- |
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.