MIRA INFORM REPORT

 

 

Report No. :

324439

Report Date :

26.05.2015

 

IDENTIFICATION DETAILS

 

Name :

NOHMI BOSAN LTD

 

 

Registered Office :

4-7-3 Kudan-Minami Chiyodaku Tokyo 102-0074

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

May 1944

 

 

Com. Reg. No.:

0100-01-008739

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Subject is manufactures disaster prevention systems, fire alarms, fire extinguishing systems, maintenance

 

 

No. of Employee :

1,425

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

Company name and address

 

NOHMI BOSAN LTD

 

REGD NAME:   Nohmi Bosai Ltd

MAIN OFFICE:  4-7-3 Kudan-Minami Chiyodaku Tokyo 102-0074 JAPAN

                                    Tel: 03-3265-0211     Fax: 03-3264-4465

                                    *.. The given 102-8277 is its POB No.     -

 

URL:                 http://www.nohmi.co.jp

E-Mail address: (thru the URL)

 

 

ACTIVITIES

 

Mfr of disaster prevention systems, fire alarms

 

 

BRANCHES

 

Sapporo, Sendai, Akita, Niigata Yokohama, Nagoya, Osaka, other (Tot 52)

 

 

OVERSEAS

 

Taiwan, China, and India

 

 

FACTORIES

 

Mitaka, Kumagaya

 

 

CHIEF EXEC

 

KIYOTAKA FUJII, PRES

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                 A/SALES          Yen 93,833 M

                                    PAYMENTS      REGULAR         CAPITAL           Yen 14,302 M

                                    TREND             UP                    WORTH            Yen 66,221 M

                                    STARTED         1944                 EMPLOYES      1,425

 

 

COMMENT

 

MFR OF DISASTER PREVENTION SYSTEMS

FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY

BUSINESS ENGAGEMENTS.

                             

                        Unit: In Million Yen

Forecast figures for the 31/10/2016 fiscal term.

 

 

HIGHLIGHTS

 

This is the largest mfr of disaster prevention systems including fire alarms.  Strong in fire extinguishing systems for funnels, but earnings depend on movements of construction industry and public works projects.  Moved under auspices of SECOM.  Stressing expansion of maintenance business.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2015 fiscal term amounted to Yen 93,833 million, a shade up from Yen 93,758 million in the previous term.  The recurring profit was posted at Yen 9,544 million and the net profit at Yen 5.635 million, respectively, compared with Yen 8,346 million recurring profit and Yen 4,814 million net profit, respectively, a year ago.

 

For the current term ending Mar 2016 the recurring profit is projected at Yen 9,550 million and the net profit at Yen 5,850 million, respectively, on a 6.6% rise in turnover, to Yen 100,000 million.  Order backlog at the term’s start expanded by 20%, aided by increase in orders in the preceding term by 10%.  Sale of fire alarms and other products will also grow.

 

The financial situation is considered FAIR and good for ORDINARY business engagements

 

 

REGISTRATION

           

            Date Registered:　May 1944

Regd No.:            0100-01-008739 (Tokyo-Chiyodaku)

            Legal Status:       Limited Company (Kabushiki Kaisha

            Authorized:       160 million shares

            Issued:    60,832,771

            Sum:                   Yen 13,302 million

 

Major shareholders (%): SECOM Co (50.3), Company’s agent S/Holding Assn (3.4), Customers’ S/Holding Assn (2.7), Master Trust Bank of Japan T (2.1), Japan Trustee Services T (1.9), Employees’ S/Holding Assn (1.8), MUFG (1.6), Fuji Electric (1.4), SMBC (1.2), Tokio Marine & Nichido Fire Ins (1.2); foreign owners (6.6)

 

No. of shareholders: 2,094

 

            Listed on the S/Exchange (s) of: Tokyo

 

Managements: Takeshi Hashizume, ch; Kiyotaka Fujii, pres; Kazuo Kajita, s/mgn dir; Jun Uchiyama, s/mgndir; Hajime Arai, mgn dir; Hiroaki Ishii, mgn dir; Kimihiro Higuchi, dir; Kazuaki Anzai, dir; Masahiro Takeda, dir; Akira Igarashi, dir

 

            Nothing detrimental is known as to the commercial morality of executives.

 

            Related companies: Nissin Bosai, Nohmi Engineering, Nohmi Shanghai, other.

 

 

OPERATION

           

Activities: Manufactures disaster prevention systems: fire alarms (36%), fire extinguishing systems (33%), maintenance, others (--25%)

           

Clients: [Mfrs, wholesalers] Mid Japan Highways, West Japan Highways, Hanshin         Highways, Kandenko, MITI Japan, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

            Suppliers: [Mfrs, wholesalers] Tokyo Siren, Koatsu Co, Furukawa Electric Ind, Senju                                                 Sprinkler, Oki Electric Ind, other

 

      Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned  and maintained satisfactorily.

            Bank References:

                        MUFG (Ichigaya)

                        SMBC (Kanda)

                        Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

FINANCES: (Consolidated in million yen)

　

　

　

Terms Ending:

31/03/2015

31/03/2014

INCOME STATEMENT

　

　

  Annual Sales

　

93,833

93,758

　

  Cost of Sales

63,832

64,714

　

      GROSS PROFIT

30,001

29,043

　

  Selling & Adm Costs

20,702

21,054

　

      OPERATING PROFIT

9,298

7,988

　

  Non-Operating P/L

246

358

　

      RECURRING PROFIT

9,544

8,346

　

      NET PROFIT

5,635

4,814

BALANCE SHEET

　

　

  Cash

　

26,940

25,164

　

  Receivables

32,320

32,309

　

  Inventory

8,518

7,113

　

  Securities, Marketable

2,000

2,000

　

  Other Current Assets

9,787

8,036

　

      TOTAL CURRENT ASSETS

79,565

74,622

　

  Property & Equipment

13,393

11,367

　

  Intangibles

570

578

　

  Investments, Other Fixed Assets

9,408

8,796

　

      TOTAL ASSETS

102,936

95,363

　

  Payables

5,306

9,975

　

  Short-Term Bank Loans

19

17

　

　

　

　

　

  Other Current Liabs

24,103

17,458

　

      TOTAL CURRENT LIABS

29,428

27,450

　

  Debentures

　

　

　

  Long-Term Bank Loans

　

　

　

  Reserve for Retirement Allw

5,912

6,010

　

  Other Debts

　

1,374

1,114

　

      TOTAL LIABILITIES

36,714

34,574

　

      MINORITY INTERESTS

　

　

Common stock

13,302

13,302

　

Additional paid-in capital

12,879

12,745

　

Retained earnings

37,053

33,273

　

Evaluation p/l on investments/securities

1,054

673

　

Others

2,211

1,064

　

Treasury stock, at cost

(278)

(268)

　

      TOTAL S/HOLDERS` EQUITY

66,221

60,789

　

      TOTAL EQUITIES

102,936

95,363

CONSOLIDATED CASH FLOWS

　

　

Terms ending:

31/03/2015

31/03/2014

　

Cash Flows from Operating Activities

　

6,237

6,634

　

Cash Flows from Investment Activities

-3,481

-1,361

　

Cash Flows from Financing Activities

-1,223

-943

　

Cash, Bank Deposits at the Term End

　

27,050

25,438

ANALYTICAL RATIOS            Terms ending:

31/03/2015

31/03/2014

　

Net Worth (S/Holders' Equity)

66,221

60,789

　

Current Ratio (%)

270.37

271.85

　

Net Worth Ratio (%)

64.33

63.74

　

Recurring Profit Ratio (%)

10.17

8.90

　

Net Profit Ratio (%)

6.01

5.13

　

　

Return On Equity (%)

8.51

7.92

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.62

UK Pound

1

Rs.98.51

Euro

1

Rs.69.93

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ASH

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.