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Report No. : |
340219 |
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Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
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Name : |
NIPPA TECH CORPORATION |
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Registered Office : |
2-12-1 Chibune Nishiyodogawaku Osaka 555-0013 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
June 1938 |
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Com. Reg. No.: |
2900-01-050302 (Osaka-Nishiyodogawaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures knives & parts for industrial machinery: knives for
metal shearing, knives for slitting, knives for waste material crushing
(--70%), machinery parts: rocket plate, bearing plate, wear plate, spacers,
tamper bar, other (--30%) |
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No. of Employee : |
48 |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
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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 |
NIPPA TECH CORPORATION
REGD NAME: Nippa
Tech KK
MAIN OFFICE: 2-12-1
Chibune Nishiyodogawaku Osaka 555-0013 JAPAN
Tel: 06-6471-2817
Fax: 06-0471-1018
URL: http://www.nippatech.co.jp
E-Mail address: (thru the URL)
Mfg of knives
& parts for industrial machinery
Chiba, Hiroshima
At the caption address,
Hyogo
KENTA KAWASAKI,
PRES
Ryushiro Kawasaki,
ch
Yasuhiro Kawasaki,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 669 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen
45 M
TREND UP WORTH Yen 205 M
STARTED 1938 EMPLOYES 48
MFR OF KNIVES & PARTS FOR INDUSTIRAL MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally
in 1921 by father of Ryushiro Kawasaki, now CH, on his account, for mfg knives
for industrial machinery. Incorporated
in 1938 the firm has been succeeded by his descendants. Kenta Kawasaki, his son, took the pres office
in Nov 2013. This is a specialized mfr
of knives & parts for industrial machinery (See OPERATION). Goods are
exported. Clients include major heavy
machinery makers, nationwide.
The sales volume for Sept/2014 fiscal term
amounted to Yen 738 million, an 18% up from Yen 624 million in the previous
term. Exports rose. The recurring profit was posted at Yen 4
million and the net profit at Yen 3 million, respectively, compared with Yen 3
million recurring profit and Yen 2 million net profit, respectively, a year
ago.
For the current term ending Sept 2015 the recurring profit is projected
at Yen 5 million and the net profit at Yen 4 million, respectively, on a 5%
rise in turnover, to Yen 775 million.
The weaker Yen may send the earnings upwards in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 125 million, on 30 days normal terms.
Date Registered: Jun
1938
Regd No.:
2900-01-050302
(Osaka-Nishiyodogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 360,000
shares
Issued: 90,000
shares
Sum: Yen
45 million
Major
shareholders (%): Ryushiro Kawasaki and
families (--100)
No. of shareholders: 7
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Manufactures
knives & parts for industrial machinery: knives for metal shearing, knives
for slitting, knives for waste material crushing (--70%), machinery parts: rocket
plate, bearing plate, wear plate, spacers, tamper bar, other (--30%)
Clients: [Mfrs,
wholesalers] Nippon Steel Sumitomo Metal Ind, IHI Corp, JFE Shoji Trading, Kobe
Steel, Nisshin Steel, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Daido DM Solution, Sumisho Specialty Metal Corp, Toyo Metal
Treating Corp, Suzuki Forging Steel, other
Payment record: Slow but correct
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Nishi-Noda)
Iyo Bank
(Osaka-Kita)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
30/09/2015 |
30/09/2014 |
30/09/2013 |
30/09/2012 |
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Annual
Sales |
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775 |
738 |
624 |
669 |
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Recur.
Profit |
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5 |
4 |
3 |
3 |
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Net
Profit |
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4 |
3 |
2 |
2 |
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Total
Assets |
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821 |
846 |
846 |
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Current
Assets |
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425 |
438 |
462 |
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Current
Liabs |
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|
156 |
107 |
135 |
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Net
Worth |
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|
205 |
201 |
200 |
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Capital,
Paid-Up |
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|
45 |
45 |
45 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.01 |
18.27 |
-6.73 |
-10.56 |
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Current Ratio |
|
.. |
272.44 |
409.35 |
342.22 |
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N.Worth Ratio |
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.. |
24.97 |
23.76 |
23.64 |
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R.Profit/Sales |
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0.65 |
0.54 |
0.48 |
0.45 |
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N.Profit/Sales |
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0.52 |
0.41 |
0.32 |
0.30 |
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Return On Equity |
|
.. |
1.46 |
1.00 |
1.00 |
Notes: Forecast
(or estimated) figures for the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.40 |
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|
1 |
Rs.101.19 |
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Euro |
1 |
Rs.73.89 |
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.