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Report No. : |
338807 |
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Report Date : |
15.08.2015 |
IDENTIFICATION DETAILS
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Name : |
NEW HOLLAND HFT JAPAN INC |
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Registered Office : |
Takeda Sapporo Bldg 6F, 13-4 Kita-Ichijo
Chuoku Sapporo 060-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May 1970 |
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Com. Reg. No.: |
1300-01-021026 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports, wholesales and retails
agricultural machinery: tractors, combines, other (--100%) |
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No. of Employees : |
584 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 970.5 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
NEW HOLLAND HFT JAPAN INC
Nihon
New Holland KK
Takeda
Sapporo Bldg 6F, 13-4 Kita-Ichijo Chuoku Sapporo 060-0001 JAPAN
Tel:
011-221-2130 Fax: 011-221-2025
E-Mail
address: (thru the URL)
Import,
wholesale of tractors, combines, other agricultural machinery
55
locations nationwide
NAOTAKE
SHIBAMOTO, PRES Naotake Shibamoto, ch
Hiroyuki
Mukai, dir Toshihiko Sakai, dir
Hideaki
Terashima, dir Tamao
Itakura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 31,700 M
PAYMENTSREGULAR CAPITAL Yen
240 M
TREND UP WORTH Yen 31,325 M
STARTED 1970 EMPLOYES 584
TRADING FIRM SPECIALIZING IN AGRICULTURAL MACHINERY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 970.5
MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally as Hokkai
Jidosha Kogyo KK for selling and repairing imported cars, and changed the name
in 1995 as captioned. This is the
leading importer of farm machinery: tractors, combines, other. It has 50% market share in Japan for large combines,
and 50% market share for rice planting machines in Hokkaido. Clients include Zen-Noh Coop, other
Financials are only partially disclosed. Profits are not disclosed and estimated only.
The sales volume for Mar/2014 fiscal term amounted to Yen
31,700 million, a 32% up from Yen 24,100 million in the previous term. The net profit is estimated posted at Yen
1,750 million, compared with Yen 1,350 million a year ago.
For the term that ended Mar 2015 the net profit was
projected at Yen 1,850 million, on a 5% rise in turnover, to Yen 33,280
million. Final results are yet to be
released.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 970.5 million, on 30 days normal terms.
Date Registered: May 1970
Regd No.: 1300-01-021026
(Saitama-Kitaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 480,000 shares
Issued:
480,000 shares
Sum: Yen
240 million
Major shareholders (%): Shibamoto
Sangyo KK (50), CNH Global NV (50)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, wholesales and retails
agricultural machinery: tractors, combines, other (--100%)
[Mfrs, wholesalers] Hokuren
Agricultural Coop, Zen-Noh Coop, JA-Ohtsuku Abashiri, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Mfrs, wholesalers] CNH Global
NV, Minoru Ind, Takakita Co, IHI Shibaura, IHI Star, Kobashi Kogyo Co, other
Regular
Business area in Sapporo.
Office premises at the caption address are leased and maintained
satisfactorily.
North
Pacific Bank (H/O)
MUFG
(Sapporo)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual Sales |
|
33,280 |
31,700 |
24,100 |
23,600 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
1,850 |
1,750 |
1,350 |
1,300 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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31,325 |
30,100 |
29,135 |
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Capital, Paid-Up |
|
|
240 |
240 |
240 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.98 |
31.54 |
2.12 |
1,142.11 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
5.56 |
5.52 |
5.60 |
5.51 |
Notes: Financials are only partially disclosed. Profits are not disclosed and estimated only
from the past.
Forecast (or estimated) figures for the 31/03/2015 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
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UK Pound |
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.75.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
TRU |
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 |
-- |
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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.