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Report No. : |
336384 |
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Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SHIN HIROSE SHOJI CORPORATION |
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Registered Office : |
4133-2 Hongo Tachiaraimachi Miigun Fukuoka-Pref 830-1211 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2014 |
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Date of Incorporation : |
Jan 2006 |
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Com. Reg. No.: |
2900-01-050825 (Fukuoka-Miigun-Tachiarai) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures plastic food containers: injection plate,
injection tub, PSP tub, glass cover, bowl cover, food preserving container,
plastic raw materials, other (--100%). |
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No. of Employee : |
31 |
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 inefficientINVESTMENT 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 |
SHIN HIROSE SHOJI CORPORATION
REGD NAME: Shin
Hirose Shoji KK
MAIN OFFICE: 4133-2
Hongo Tachiaraimachi Miigun Fukuoka-Pref 830-1211 JAPAN
Tel: 0942-77-3000 Fax: 0942-77-3939
URL: http://www.hirose-cm.co.jp
E-mail: royalweb@hirose-cm.co.jp
Mfg of
food containers
Tokyo
At the
caption address
Qingdao
(3), Langfang, Yantai (--China), Vietnam
SHIGETAKA
HIROSE, PRES Masashi Kawakami, rep dir
Ikuo
Maruyama, dir Norio
Yoshiki, dir
Chieko
Sezaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 650 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen
43 M
TREND STEADY WORTH Yen 48 M
STARTED 2006 EMPLOYES 31
MFR OF
PLASTIC FOOD CONTAINERS
FINANCIAL SITUATION CONSIDERED RATHER
WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS AND GOOD FOR CREDIT
ENGAGEMENTS: US$500,000/ O/A 120 DAYS
The subject company was established on the basis of
succession of business operations of KK Marx, mfr of food containers, founded
1966, in order to engage in mfg of plastic food containers. This is a specialized mfr of plastic food
containers: plastic bowl covers, injection plate, glass cover, food preserving
containers, other. Goods are
manufactures at subsidiary makers in China (5), Taiwan, Vietnam and other
subcontracted makers overseas. Goods are
also exported to China, other S/E Asian countries.
The sales volume for Jul/2014 fiscal term amounted to Yen
650 million, a 3% up from Yen 630 million in the previous term. The recurring profit was posted at Yen 4
million and the net profit at Yen 3 million, respectively, compared with Yen 2
million recurring profit and Yen 1 million net profit, respectively, a year
ago.
For the term that ended Jul 2015 the recurring profit was
projected at Yen 5 million and the net profit at Yen 5 million, respectively,
on a 5% rise in turnover, to Yen 685 million.
Final results are yet to be released.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Max credit limit is estimated at Yen 12.5million, on 30 days normal
terms. The proposed amount is considered
well within the firm’s financial capabilities.
Date Registered: Jan 2006
Regd No.: 2900-01-050825
(Fukuoka-Miigun-Tachiarai)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 17,200 shares
Issued: 4,300 shares
Sum: Yen 43
million
Major shareholders (%): D E Co (46.5), Kenzo Anai (37.2), Ikuo
Sonoyam (9.3),
Shigetaka
Hirose (7.0)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures plastic food containers:
injection plate, injection tub, PSP tub, glass cover, bowl cover, food
preserving container, plastic raw materials, other (--100%).
Goods are both imported from and
exported to China, Taiwan, Vietnam and other S/E Asian markets
Clients: [Mfrs, wholesalers] Orikei Co, Hatae
Corp, Ichihashi Hamonoten (Cutlery shop), Imura Sangyo Co, Nishiya Shoji, other
Exports to China, other
No. of accounts: 300
Domestic
areas of activities: Centered in Kyushu
Suppliers
[Mfrs, wholesalers] Imports from China, Taiwan, Vietnam, other
Domestically
supplied from: TI Shoji, MK Projects, Daiei Dan Boru (Dan Boru means Cardboard), other
Payment record: Slow but correct
Location:
Business area in Fukuoka. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Kitakyushu
Bank (Kurume)
Nishi-Nippon
City Bank (Kurume)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/07/2015 |
31/07/2014 |
31/07/2013 |
31/07/2012 |
|
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Annual
Sales |
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685 |
650 |
630 |
610 |
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Recur.
Profit |
|
5 |
4 |
2 |
1 |
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Net
Profit |
|
5 |
3 |
1 |
1 |
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Total
Assets |
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|
394 |
242 |
191 |
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Current
Assets |
|
|
271 |
165 |
151 |
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Current
Liabs |
|
|
174 |
112 |
105 |
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Net
Worth |
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|
48 |
44 |
43 |
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Capital,
Paid-Up |
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|
43 |
43 |
43 |
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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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5.38 |
3.17 |
3.28 |
0.66 |
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Current Ratio |
|
.. |
155.75 |
147.32 |
143.81 |
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N.Worth Ratio |
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.. |
12.18 |
18.18 |
22.51 |
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R.Profit/Sales |
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0.73 |
0.62 |
0.32 |
0.16 |
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N.Profit/Sales |
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0.73 |
0.46 |
0.16 |
0.16 |
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Return On Equity |
|
.. |
6.25 |
2.27 |
2.32 |
Notes:
Forecast (or estimated) figures for the 31/07/2015 fiscal term
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
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
: |
KAR |
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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.