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Report No. : |
337043 |
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Report Date : |
02.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SHINKOSHA CO LTD |
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Registered Office : |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
May 1947 |
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Legal Form : |
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Line of Business : |
Subject is manufactures synthetic gems, oxide single crystals,
sapphire, prism |
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No. of Employee : |
116 |
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 : |
UP TO USD 300,000 |
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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 |
SHINKOSHA CO LTD
TEL: 81-045-892-2171 FAX:
81-045-892-2191
INCORPORATION DATE : MAY
1947
REGISTRATION NO. :
N/A
CHIEF EXECUTIVE :
KATSUYUKI YONEZAWA (PRESIDENT)
STAFF STRENGTH :
116
PAID-UP CAPITAL :
JPY 90 M
BUSINESS LINE :
MANUFACTURE
TURNOVER :
JPY 3,418 M (AS OF DEC. 31, 2012)
EQUITIES :
JPY 851 M (AS OF DEC. 31, 2012)
PAYMENT :
NO COMPLAINTS
RECOMM. CREDIT RANGE : UP TO USD 300,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
JPY 120.09 = US$
Adopted abbreviations:
ANS - amount not stated NS - not stated SC - subject company (the company inquired by you)
NA - not available M - million JPY-Japan Yen
REGD NAME
KK Shinkosha
REGISTRATION
Authorized: 720,000
Issued: 180,000
shares
HIGHLIGHTS
The subject company was established on the basis of a division separated
from Ogura Jewel Industry Ltd. This is a specialized mfr of oxide single
crystals, sapphire, prism, other. Goods
are delivered to major LED makers, other
Location: Business area in
Yokohama. Office premises at the caption
address are owned and maintained satisfactorily.
*Company History*
===============
May, 1947 -
Established as a synthetic jewelry manufacturing company.
1970 -
Started production of sapphire watch windows.
1987 - Entered
the optical communication area.
1989 -
Started sales of single crystal substrates for superconductive thin films
1995 -
Started sales of sapphire substrates for blueLEDs.
2001 - Head office moved to Kosugaya,
Sakae-ku, Yokohama.
2002 -
Started the operation of Tochigi Factory.
2004 -
Started sales of optical fiber sensor.
http://www.shinkosha.com/ The design is professional and the content is well
organized. At present it is in Japanese and English versions.
E-mail: sales@shinkosha.com
For the past two years there is no record of litigation.
Major shareholders
(%): Ogura Jewel Industry
Ltd, Katsuyuki Yonezawa
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
OFFICERS
Katsuyuki Yonezawa, president
Atsushi Takeuchi, director
Akihiro Tateno, director
Activities: Manufactures
synthetic gems, oxide single crystals, sapphire, prism, other (--100%)
Clients: [Mfrs,
wholesalers] Gaboriau Ltd, Seiko Instruments, other
No. of accounts: 200
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Bikowski Japan, other,
Payment record: No Complaints
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. Japan's industrial
sector is 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 three 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. The
economy has largely recovered in the two years since the disaster, but
reconstruction in the Tohoku region has been uneven. Newly-elected Prime
Minister Shinzo ABE has declared the economy his government's top priority; he
has pledged to reconsider his predecessor's plan to permanently close nuclear
power plants and is pursuing an economic revitalization agenda of fiscal
stimulus and regulatory reform and has said he will press the Bank of Japan to
loosen monetary policy. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2012 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 new government will
continue a longstanding debate on restructuring the economy and reining in
Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation,
reliance on exports to drive growth, and an aging and shrinking population are
other major long-term challenges for the economy.
BRANCHES
Sano
FACTORIES
Tochigi `Plant
Address: 1043 Mizuki-Cho Sano 327
0516 Tochigi
FINANCES
(In Million JPY)
|
Terms Ending: |
|
|
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Annual Sales |
|
3,520 |
3,418 |
4,261 |
3,549 |
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Recur. Profit |
|
260 |
254 |
237 |
92 |
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Net Profit |
|
140 |
139 |
125 |
39 |
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Total Assets |
|
|
5,170 |
5,261 |
5,311 |
|
Current Assets |
|
|
3,232 |
3,237 |
2,936 |
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Current Liabs |
|
|
1,130 |
1,216 |
1,311 |
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Net Worth |
|
|
851 |
711 |
594 |
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Capital, Paid-Up |
|
|
90 |
90 |
90 |
|
Div. P. Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S. Growth Rate |
2.98 |
-19.78 |
20.06 |
73.89 |
|
|
Current Ratio |
|
.. |
286.02 |
266.20 |
223.95 |
|
N. Worth Ratio |
.. |
16.46 |
13.51 |
11.18 |
|
|
R. Profit/Sales |
|
4.55 |
7.43 |
5.56 |
2.59 |
|
N. Profit/Sales |
3.98 |
4.07 |
2.93 |
1.10 |
|
|
Return On Equity |
.. |
16.33 |
17.58 |
6.57 |
|
Notes: Forecast (or estimated) figures for the
FINANCIAL
INFORMATION
The sales volume for Dec/2012 fiscal term amounted
to JPY 3,418 million, a 20% down from JPY 4,261 million in the previous
term. The recurring profit was posted at
JPY 254 million and the net profit at JPY 139 million, respectively, compared
with JPY 237 million recurring profit and JPY 125 million net profit,
respectively, a year ago. .
For the current term ending Dec/2013 the
recurring profit is projected at JPY 260 million and the net profit at JPY 140
million, respectively, on a 3% rise in turnover, to JPY 3,520 million.
The financial situation is considered STABLE
for ORDINARY business engagements.
Tokyo Tomin Bank (H/O)
Shoko Chukin Bank (Yokohama)
Relations: Satisfactory
SC is considered medium-sized in its line with a long development history.
Taking into consideration of SC’s general performance.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.26 |
|
UK Pound |
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.74.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
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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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.