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Report No. : |
349414 |
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Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
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Name : |
SHIBATA INDUSTRIAL CO LTD |
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Registered Office : |
1058 |
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Country : |
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Financials (as on) : |
31.05.2015 |
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Date of Incorporation : |
May 1949 |
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Com. Reg. No.: |
1400-01-034972 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures rubber products &
equipment: marine/ocean engineering products (22.9%), construction &
civil engineering products (17.4%), industrial distribution products (16.5%),
rubber shoes, others (--43.2%) |
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No. of Employees : |
370 |
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 106.6 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the disaster,
although reconstruction in the affected Tohoku region has lagged, in part due
to a shortage of labor in the construction sector. Japan enjoyed a sharp uptick
in growth in 2013 on the basis of Prime Minister Shinzo Abe’s “Three Arrows”
economic revitalization agenda - dubbed “Abenomics” - of monetary easing,
“flexible” fiscal policy, and structural reform. Abe’s government has replaced
the preceding administration’s plan to phase out nuclear power with a new
policy of seeking to restart nuclear power plants that meet strict new safety
standards, and emphasizing nuclear energy’s importance as a base-load
electricity source. Japan joined the Trans-Pacific Partnership (TPP)
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 first-place China, which surpassed Japan in 2001, and third-place India,
which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
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Source
: CIA |
SHIBATA INDUSTRIAL CO LTD
REGD NAME: Shibata
Kogyo KK
MAIN OFFICE: 1058
Nakao Uozumicho Akashi City Hyogo-Pref 674-0082 JAPAN
Tel:
078-946-1515 Fax: 078-946-0523
URL: http://www.sbt.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Mfg
of rubber products & equipment, other
BRANCHES: Tokyo,
Kobe, Sapporo, Sendai, Nagoya, Fukuoka, Okinawa, other (Tot 9)
FACTORIES: At
the caption address
OFFICERS: ATSUKI
SHIBATA, PRES Takashi
Ishikawa, dir
Yoshio Nishino,
dir Hiroto
Suzuki, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 11,035 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
97 M
TREND SLOW WORTH
Yen 1,185 M
STARTED 1949 EMPLOYES 370
COMMENT: MFR OF RUBBER PRODUCTS &
EQUIPMENT. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 106.6 MILLION, ON 30 DAYS
NORMAL TERMS.
The subject company is an old-established company started in 1923 and was incorporated 1949. This is a specialized mfg of rubber products & equipment, other. Rubber fender is the main item and has a high market share. Clients include construction firms, chemical mfrs, other.
The sales volume for May/2015 fiscal term amounted to Yen 11,035 million, a 7% drop from Yen 11.827 million in the previous term. The recurring profit was posted at Yen 293 million and the net profit at Yen 191 million, respectively, compared with Yen 785 million recurring profit and Yen 236 million net profit, respectively, a year ago.
For the current term ending May 2016 the recurring profit is projected at Yen 310 million and the net profit at Yen 200 million, respectively, on a 5% rise in turnover, to Yen 11,600 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 106.6 million, on 30 days normal terms.
Date Registered: May 1949
Regd No.:
1400-01-034972
(Hyogo-Akashi)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4
million shares
Issued: 3.15
million shares
Sum: Yen
97 million
Major
shareholders (%): Shibata Marketing Japan*
(37), Tatsuzo Shibata (24), Company’s
Treasury
Stock (10), KISCO
(3), Shiraishi Calcium (2), other
No. of shareholders: 8
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
rubber products & equipment: marine/ocean engineering products (22.9%),
construction & civil engineering products (17.4%), industrial distribution
products (16.5%), rubber shoes, others (--43.2%)
Clients: [Mfrs,
wholesalers] Toyo Construction, Kumagai Gumi Co, Taisei Corp, Nissho Corp,
Nishimatsu Construction, Penta Ocean Construction, Sumitomo Chemical Ind,
Mitsubishi Chemical, Mitsui Chemical, Sho-Bond Corp, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] KISCO Ltd, Takahashi Sangyo, Shiraishi Calcium, Sumitomo Corp,
Izumi-Cosmo Co, Sumitomo Rubber Ind, CBC, other
Payment record: No Complaints
Location: Business area in
Akashi City, Hyogo-Pref. Office premises
at the caption address are owned and maintained satisfactory.
Bank References:
Resona Bank
(Akashi)
Minato Bank
(Akashi)
Relations:
Satisfactory
(In Million
Yen)
|
Terms
Ending: |
31/05/2016 |
31/05/2015 |
31/05/2014 |
31/05/2013 |
|
|
Annual
Sales |
|
11,600 |
11,035 |
11,827 |
10,262 |
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Recur.
Profit |
|
310 |
293 |
785 |
|
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Net
Profit |
|
200 |
191 |
236 |
103 |
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Total
Assets |
|
|
9,075 |
9,126 |
9,851 |
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Current
Assets |
|
|
5,168 |
5,346 |
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Current
Liabs |
|
|
3,840 |
4,060 |
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Net
Worth |
|
|
1,185 |
1,007 |
778 |
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Capital,
Paid-Up |
|
|
97 |
97 |
97 |
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Div.Ttl
in Million (¥) |
|
|
14.16 |
8.4 |
8.4 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.12 |
-6.70 |
15.25 |
19.77 |
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Current Ratio |
|
.. |
134.58 |
131.67 |
.. |
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N.Worth Ratio |
|
.. |
13.06 |
11.03 |
7.90 |
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R.Profit/Sales |
|
2.67 |
2.66 |
6.64 |
.. |
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N.Profit/Sales |
|
1.72 |
1.73 |
2.00 |
1.00 |
|
Return On Equity |
|
.. |
16.12 |
23.44 |
13.24 |
Notes: Financials are only partially disclosed.
Forecast (or
estimated) figures for the ^ fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.98 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
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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.