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Report No. : |
346632 |
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Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
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Name : |
NIKKA DENSOK LIMITED |
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Registered Office : |
710, Shimoakasaka, Kawagoe-Shi, Saitama Ken 350 1155 |
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Country : |
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Financials (as on) : |
31.05.2015 |
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Date of Incorporation : |
July 1955 |
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Com. Reg. No.: |
0114-01-004994
(Tokyo-Itabashiku) |
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Legal Form : |
Limited Company
(Kabushiki Kaisha) |
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Line of Business : |
Manufactures
security devices: metal detector, check weigher, magnetized metal detector,
pinhole inspector (for food/pharmaceuticals/other) (--100%) |
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No. of Employee : |
99 |
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 |
NIKKA
DENSOK LIMITED
REGD
NAME: Nikka Densok KK
MAIN
OFFICE: 710 Shimoakasaka Kawagoe City
Saitama-Pref 350-1155 JAPAN
Tel:
049-266-7311 Fax: 049-266-5810
*..
Registered at: 2-14-2 Maenocho Itabashiku Tokyo
URL: http://www.nikka-densok.co.jp
E-Mail address: (thru the URL)
Mfg of security devices
Osaka, Nagoya, Fukuoka, Sendai (Tot 4)
USA
At the caption address
NORIMI SAKURAI, PRES Taro Saito, ch
Akira Yamanaka, dir Jun Yamanishi, dir
Haruhito Ikeda, dir Hideyuki Kurashige, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,417 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 45 M
TREND SLOW WORTH Yen 750 M
STARTED 1955 EMPLOYES 99
MFR OF SECURITY DEVICES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject
company is a special mfg of security devices: metal detector, check weigher,
magnetized metal detector, pinhole inspector, other. Goods are exported. Clients include industrial mfg companies,
other
The sales volume
for May/2015 fiscal term amounted to Yen 2,417 million, a 7% drop from
Yen 2,611
million in the previous term. The
recurring profit was posted at Yen 80 million and the net profit at Yen 31
million, respectively, compared with Yen 169 million recurring profit and Yen
78 million net profit, respectively, a year ago. Extraordinary losses are involved in the
profits this term and deteriorated.
For the current
term ending May 2016 the recurring profit is projected at Yen 160 million and
the net profit at Yen 95 million, respectively, on a 5% rise in turnover, to
Yen 2,540 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date
Registered: Jul
1955
Regd
No.: 0114-01-004994
(Tokyo-Itabashiku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 360,000
shares
Issued: 90,000
shares
Sum:
Yen 45 million
Major shareholders (%): Nikka
Limited* (100)
*.. Nikka Group Holding Company (Mfg of printing
machinery)
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Manufactures security devices: metal
detector, check weigher, magnetized metal detector, pinhole inspector (for
food/pharmaceuticals/other) (--100%)
Clients: [Mfrs, wholesalers] Sanko Electronic
Laboratory, A Y Pharma, Kyoto Seisakusho, Shikoku Kakoki, Bridgestone Corp,
Ajinomoto Frozen Foods Mfg, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Tohan Corp (15%), TBM
Japan (10%), Tajima Light Metal Ind, Shinko Plastics, other
Payment
record: Slow but correct
Location: Business area in Kawagoe City.
Office premises at the caption address are owned and maintained
satisfactory.
Bank
References:
MUFG (Oyama)
Shoko Chukin Bank (Ueno)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/05/2016 |
31/05/2015 |
31/05/2014 |
31/05/2013 |
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Annual Sales |
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2,540 |
2,417 |
2,611 |
2,317 |
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Recur. Profit |
|
160 |
80 |
169 |
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Net Profit |
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95 |
31 |
98 |
70 |
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Total Assets |
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2,155 |
2,339 |
1,986 |
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Current Assets |
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1,657 |
1,799 |
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Current Liabs |
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1,192 |
1,309 |
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Net Worth |
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750 |
733 |
546 |
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Capital, Paid-Up |
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45 |
45 |
45 |
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Div.Ttl in Million (¥) |
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14.4 |
10.8 |
7.2 |
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<Analytical
Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.09 |
-7.43 |
12.69 |
0.00 |
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Current Ratio |
|
.. |
139.01
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137.43
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.. |
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N.Worth Ratio |
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.. |
34.80 |
31.34 |
27.49 |
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R.Profit/Sales |
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6.30 |
3.31 |
6.47 |
.. |
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N.Profit/Sales |
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3.74 |
1.28 |
3.75 |
3.02 |
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Return On Equity |
|
.. |
4.13 |
13.37 |
12.82 |
Notes: Forecast (or estimated) figures for
the 31/05/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.64.89 |
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|
1 |
Rs.100.39 |
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Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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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.