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MIRA INFORM REPORT
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Report No. : |
489843 |
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Report Date : |
02.02.2018 |
IDENTIFICATION DETAILS
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Name : |
DAIICHI INDUSTRIAL CO LTD |
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Registered Office : |
474 Hoshiro Himeji City Hyogo-Pref 670-0804 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2017 |
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Date of Incorporation : |
Mar 1958 |
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Com. Reg. No.: |
1400-01-059709 (Hyogo-Himeji) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures coolers, water coolers, heaters, other (--100%) |
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No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
JAPAN - ECONOMIC OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work
ethic, mastery of high technology, and a comparatively small defense allocation
(slightly less than 1% of GDP) have helped Japan develop an advanced economy.
Two notable characteristics of the post-World War II 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 have significantly eroded under the dual
pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price
differences, Japan in 2017 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. For three postwar decades, overall real economic
growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in
the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely
because of the aftereffects of inefficient investment and the collapse of an
asset price bubble in the late 1980s, which entailed considerable 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.
Japan enjoyed an 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. Led by
the Bank of Japan’s aggressive monetary easing, Japan is making modest progress
in ending deflation, but demographic decline – a low birthrate and an aging,
shrinking population – poses a major long-term challenge for the economy. The
government currently faces the quandary of balancing its efforts to stimulate
growth and institute economic reforms with the necessity of addressing its sizable
public debt, which stands at 235% of GDP. To help raise government revenue,
Japan adopted legislation in 2012 to gradually raise the consumption tax rate.
However, the first such increase, in April 2014, led to another recession, so
Prime Minister ABE has twice postponed the next increase, now scheduled for
October 2019. Structural reforms to unlock productivity are seen as central to
strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on
imported energy and raw materials. After the complete shutdown of Japan’s
nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's
industrial sector has become even more dependent than before on imported fossil
fuels. However, ABE’s government is seeking to restart nuclear power plants
that meet strict new safety standards and is emphasizing nuclear energy’s
importance as a base-load electricity source. In August 2015, Japan
successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in
Kagoshima prefecture, and several other reactors around the country have since
resumed operations; however, opposition from local governments has delayed
several more restarts that remain pending. Reforms of the electricity and gas
sectors, including full liberalization of Japan’s energy market in April 2016
and gas market in April 2017, constitute an important part of Prime Minister
Abe’s economic program.
In October 2015, Japan and 11 trading partners reached agreement on the
Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's
economy to increased foreign competition and create new export opportunities
for Japanese businesses. Japan was the second country to ratify the TPP in
December 2016; the United States signaled its withdrawal from the TPP on
January 23, 2017, and as of April 2017 the agreement has not gone into effect.
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Source
: CIA |
Company
name & address
DAIICHI INDUSTRIAL CO LTD
REGD NAME: Daiichi
Kogyo KK
MAIN OFFICE: 474
Hoshiro Himeji City Hyogo-Pref 670-0804 JAPAN
Tel: 079-224-3331 Fax: 079-288-2088
E-Mail address: (thru the URL)
ACTIVITIES: Mfg
of coolers, water coolers, heaters, other
BRANCHES: Kobe
FACTORIES: At
the caption address, Himeji
OFFICERS: ATSUSHI INOUE, PRES
Taku Inoue, ch
Tomoko Inoue, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,328 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
30 M
TREND UP WORTH Yen 933 M
STARTED 1958 EMPLOYES 40
COMMENT: MFR OF COOLER, HEATERS, OTHER. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company is a specialized mfr of coolers, water coolers, heaters, other. Goods are widely exported. Clients include food mfrs, other.
FINANCIAL
INFORMATION
The sales volume for Aug/2017 fiscal term amounted to Yen 1,328 million, an 18% up from
Yen 1,127 million in the previous term. The recurring profit was posted at Yen 160 million and the net profit at Yen 23 million, respectively, compared with Yen 115 million recurring profit and Yen 80 million net profit, respectively, a year ago.
For the current term ending Aug 2018 the recurring profit is projected at Yen 170 million and the net profit at Yen 25 million, respectively, on a 3% rise in turnover, to Yen 1,370 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
REGISTRATION
Date Registered: Mar 1958
Regd No.:
1400-01-059709
(Hyogo-Himeji)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 240,000
shares
Issued: 60,000
shares
Sum: Yen
30 million
Major
shareholders (%): Taku Inoue (35), Atsushi
Inoue (15), First Friendship Assn (13),
Daiichi
Kosan Co (11), other
No.
of shareholders: 31
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures coolers, water coolers, heaters, other (--100%)
Clients: [Mfrs, wholesalers] Kansai Hitachi, Hitachi Appliances, Fujiwara Techno Art, Sawanotsuru Co, Seika Corp, Ozeki Co, Nagata Brewing Machinery Co, Hakutsuru Sake Brewing, Kenbishi Sake Brewing, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Ark Harima, Fuyo Maintenance System, Iwatani Techno, Aki Facilities, K-3 Inc, Tachibana Eletech Co, other
Payment record: No Complaints
Location: Business area in Himeji City, Hyogo-Pref. Office premises at the caption address are owned and maintained satisfactory.
Bank References:
Himeji Shinkin
Bank (H/O)
SMBC (Himeji)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/08/2018 |
31/08/2017 |
31/08/2016 |
31/08/2015 |
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Annual
Sales |
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1,370 |
1,328 |
1,127 |
936 |
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Recur.
Profit |
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170 |
160 |
115 |
70 |
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Net
Profit |
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25 |
23 |
80 |
43 |
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Total
Assets |
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1,533 |
1,282 |
1,165 |
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Net
Worth |
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933 |
913 |
834 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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Div.Ttl
in Million (¥) |
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2.40 |
2.10 |
1.80 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.16 |
17.83 |
20.41 |
23.32 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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60.86 |
71.22 |
71.59 |
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N.Profit/Sales |
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1.82 |
1.73 |
7.10 |
4.59 |
Notes: Forecast (or estimated) figures for the
31/08/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.61 |
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1 |
INR 90.17 |
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Euro |
1 |
INR 78.95 |
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YEN |
1 |
INR 0.58 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRA |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.