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Report No. : |
340533 |
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Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SHOEI SHOKAI CO LTD |
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Registered Office : |
1468-7 Uematsucho Higashiku Hamamatsu City Shizuoka-Pref 430-0803 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
November 1967 |
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Com. Reg. No.: |
0804-01-002356 |
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Legal Form : |
Limited Company |
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Line of Business : |
A trading firm for import, export and wholesale of: automobile parts (38%), musical instruments (23%), OA machines/equipment (20%), synthetic resins, others (19%) |
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No. of Employees : |
24 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source
: CIA |
SHOEI SHOKAI CO LTD
REGD NAME: KK
Shoei Shokai
MAIN OFFICE: 1468-7
Uematsucho Higashiku Hamamatsu City Shizuoka-Pref 430-0803 JAPAN
Tel: 053-463-5215
Fax: 053-463-0101
URL: http://www.shoei-shokai.com
E-Mail address: (thru the URL)
ACTIVITIES: Import,
export, wholesale of automobile parts, musical instruments, OA, other
BRANCHES: Nil
OVERSEAS: China,
Malaysia, Thailand (--Business partners)
OFFICERS: MASATOSHI
KINOSHITA, PRES
Yukio Kiguchi, ch Hiroshi Sumioka, dir
Takeshi Fujita, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,369 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 33 M
TREND SLOW WORTH Yen 288 M
STARTED 1967 EMPLOYES 24
COMMENT: TRADING FIRM SPECIALIZING IN AUTOMOBILE PARTS, OTHER. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS, BUT DOUBTFUL FOR CREDIT ENGAGEMENTS: US$1,500,000 / O/A 90 DAYS TERMS.
The subject company was established originally in 1952 and was incorporated in 1967. This is a trading firm for import, export and wholesale of automobile parts & accessories, musical instruments, OA machines/equipment, other. Clients include electric mfrs, engine mfrs, other
The sales volume for Mar/2015 fiscal term amounted to Yen 2,369 million, an 11% down from Yen 2,369 million in the previous term. Overseas operations are increasingly transferred to the Group firms. The net profit was posted at Yen 67 million, compared with Yen 200 recurring profit and Yen 75 million net profit, respectively, a year ago.
For the current term ending Mar 2016 the net profit is projected at Yen 70 million, on a 5% rise in turnover, to Yen 2,500 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 25.3 million, on 30 days normal terms. The proposed amount for 90 days terms is considered TOO HIGH from the firm’s recent financial capacities.
Date Registered: Nov 1967
Regd No.:
0804-01-002356
(Hamamatsu-Higashiku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 265,000
shares
Issued: 66,000
shares
Sum: Yen
33 million
Major
shareholders (%): Masatoshi Kinoshita (18), Yukio Kiguchi (15), other
No.
of shareholders: 12
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading firm for import, export and wholesale of: automobile parts (38%), musical instruments (23%), OA machines/equipment (20%), synthetic resins, others (19%)
Clients: [Mfrs, wholesalers] Yamaha Corp, Toshiba Tec Corp, Yamaha Motor Electronics, Yamaha Motor Powered Products, Toto Ltd, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Daiken Chemical Ind, Taruo Brothers, Teraoka Seisakusho, other
Payment record: No Complaints
Location: Business area in
Hamamatsu. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
Shizuoka Bank
(Hamamatsu-Chuo)
MUFG (Hamamatsu)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
2,369 |
2,668 |
1,953 |
2,570 |
|
Recur.
Profit |
|
|
200 |
97 |
|
|
Net
Profit |
|
67 |
75 |
40 |
30 |
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Total
Assets |
|
|
1,821 |
1,759 |
1,715 |
|
Current
Assets |
|
|
1,403 |
1,231 |
|
|
Current
Liabs |
|
|
1,131 |
1,004 |
|
|
Net
Worth |
|
|
288 |
281 |
241 |
|
Capital,
Paid-Up |
|
|
33 |
33 |
33 |
|
Div.Ttl
in Million (¥) |
|
|
1.155 |
1.155 |
1.155 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
-11.21 |
36.61 |
-24.01 |
-8.83 |
|
Current Ratio |
|
.. |
124.05 |
122.61 |
.. |
|
N.Worth Ratio |
|
.. |
15.82 |
15.97 |
14.05 |
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R.Profit/Sales |
|
.. |
7.50 |
4.97 |
.. |
|
N.Profit/Sales |
|
2.83 |
2.81 |
2.05 |
1.17 |
|
Return On Equity |
|
.. |
26.04 |
14.23 |
12.45 |
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the ^ fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.60 |
|
|
1 |
Rs.102.30 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
|
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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 |
-- |
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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.