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Report No. : |
351000 |
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Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
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Name : |
NYK TRADING CORPORATION |
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Registered Office : |
World Trade Center Bldg 34F, 2-4-1 Hamamatsucho Minatoku Tokyo
105-6134 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
March 1948 |
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Com. Reg. No.: |
0104-01-038478 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Trading firm for imports, exports and wholesales: Petroleum products (fuel oil), Chemical
ingredients & plastic products, solar energy generation equipment,
Industrial machinery & equipment, energy saving systems, other (--100%) |
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No. of Employee : |
153 |
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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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 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 |
NYK TRADING CORPORATION
REGD NAME: Yusen Shoji KK
MAIN OFFICE: World Trade Center
Bldg 34F, 2-4-1 Hamamatsucho Minatoku Tokyo 105-6134
JAPAN
Tel:
03-5408-7113 Fax: 03-5408-7163
URL: http://www.nyk-rrading.com
(English), yusenshoji.co.jp (Japanese)
E-Mail address: info@yusenshoji.co.jp
Import, export,
wholesale of petroleum products, chemicals, ship machinery & equipment,
plant machinery
Nagoya, Kobe,
Hiroshima, Moji, Nagasaki, Yokohama
UK, USA, Philippines,
China (--subsidiaries)
HIDENORI HONO,
PRES Jun’ichi
Yokoyama, mgn dir
Keizo Murakoso,
mgn dir Mitsuhiko
Sunouchi, dir
Eiji Hoshi, dir Hidehiko
Sato, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 129.947 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen
1,246 M
TREND SLOW WORTH Yen 5,638 M
STARTED 1948 EMPLOYES 153
TRADING FIRM
SPECIALIZING IN PETROLEUM PRODUCTS, CHEMICALS & MACHINERY, AFFILIATED WITH NIPPON YUSEN KK.
FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established as a
trading firm by Nippon Yusen KK, nation’s lar-gest shipping company, Tokyo (See
REGISTRATION). This is a trading firm for import, export and
wholesale of petroleum products, chemicals, ship & industrial machinery, other. Originally named as Hikawa Shoji KK, and in Oct 2003
the firm merged with Asahi Kiso KK and renamed as captioned. Clients &
suppliers include major petroleum refineries.
The sales volume for Mar/2015 fiscal term amounted to Yen 129,947
million, a 16% down from Yen 154,277 million in the previous term. Sales declined due to the drop in oil prices
and products. The recurring profit was
posted at Yen 400 million and the net profit at Yen 344 million, respectively,
compared with Yen 271 million recurring profit and Yen 366 million net profit,
respectively, a year ago.
For the current term ending Mar 2016 the recurring profit is projected
at Yen 450 million and the net profit at Yen 350 million, respectively, on a 3%
rise in turnover, to Yen 133,800 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar 1948
Regd No.:
0104-01-038478 (Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 90 million shares
Issued: 24,922,520 shares
Sum: Yen 1,246,126,000 million
Major shareholders (%): Nippon Yusen
KK*(79.2), Showa Shell Sekiyu (2.7), Azbil Corp (2.3), MUFG (2.2), Yanmar Co
(1.9), Daihatsu Diesel (1.9), other
No.
of shareholders: 120
* Japan’s largest shipping company, founded 1885, listed Tokyo, Nagoya S/E’s, capital Yen 144,319 million, turnover Yen 2,401,820 million, operating profit Yen 66,192 million, recurring profit Yen 84,010 million, net profit Yen 47,591 million, total assets Yen 2,569,153 million, net worth Yen 859,754 million, employees 33,520, pres Tadashi Naito
Nothing detrimental is known as to the commercial morality of executives.
Activities: Trading firm for imports, exports and wholesales: Petroleum products (fuel oil), Chemical ingredients & plastic products, solar energy generation equipment, Industrial machinery & equipment, energy saving systems, other (--100%)
Clients: [Oil refineries, shipping companies, wholesalers] Nippon Yusen Kaisha, Mitsubishi Corp, Canon Inc, Mitsubishi Heavy Ind, Asahi Kasei Corp, Mitsui & Co, Kawasaki Heavy Ind, Sinanen Co, Kanax Corp, Koatsu Gas Kogyo, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Oil refineries, mfrs, wholesalers] Showa Shell Sekiyu, JX Nippon Oil & Energy Corp, Shell Chemicals Japan, Yamatake Corp, Yanmar Co, Azbil Corp, Idemitsu Kosan KK, Exxon Mobil Japan, other
Payment record: Slow but Correct
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (H/O)
Mitsubishi UFJ
Trust Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
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Annual
Sales |
|
133,800 |
129,947 |
154,277 |
134,894 |
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Recur.
Profit |
|
450 |
400 |
271 |
653 |
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Net
Profit |
|
350 |
344 |
366 |
757 |
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Total
Assets |
|
|
23,396 |
27,299 |
24,667 |
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Current
Assets |
|
|
18,438 |
23,546 |
21,859 |
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Current
Liabs |
|
|
15,205 |
19,966 |
17,694 |
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Net
Worth |
|
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5,638 |
5,499 |
5,550 |
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Capital,
Paid-Up |
|
|
1,246 |
1,246 |
1,246 |
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Div.P.Share(¥) |
|
|
6.00 |
6.00 |
10.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
2.97 |
-15.77 |
14.37 |
-6.90 |
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Current Ratio |
|
.. |
121.26 |
117.93 |
123.54 |
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N.Worth Ratio |
|
.. |
24.10 |
20.14 |
22.50 |
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R.Profit/Sales |
|
0.34 |
0.31 |
0.18 |
0.48 |
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N.Profit/Sales |
|
0.26 |
0.26 |
0.24 |
0.56 |
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Return On Equity |
|
.. |
6.10 |
6.66 |
13.64 |
Notes: Forecast
(or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.71 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.