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MIRA INFORM REPORT
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Report No. : |
509687 |
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Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
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Name : |
SANKYU INC |
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Registered Office : |
6-5-23 Kachidoki Chuoku Tokyo 104-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2018 |
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Date of Incorporation : |
November 1917 |
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Com. Reg. No.: |
2908-01-005328 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Port Transport Firm, Distribution (51%), Plant Engineering & Maintenance (44%), Others (5%) |
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No. of Employees : |
11,868 |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
Yen 17,737.6 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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 - averaging 10% 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 resulted in several years of
economic stagnation as firms sought 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 since 2013, supported by 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 need to address 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 a sharp
contraction, so Prime Minister ABE has twice postponed the next increase, which
is 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.
Under the Abe Administration, Japan’s government sought to open the
country’s economy to greater foreign competition and create new export opportunities
for Japanese businesses, including by joining 11 trading partners in the
Trans-Pacific Partnership (TPP). Japan became the first country to ratify the
TPP in December 2016, but the United States signaled its withdrawal from the
agreement in January 2017. In November 2017 the remaining 11 countries agreed
on the core elements of a modified agreement, which they renamed the
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Japan also reached agreement with the European Union on an Economic Partnership
Agreement in July 2017, and is likely seek to ratify both agreements in the
Diet this year.
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Source
: CIA |
Company name & address
SANKYU INC
REGD NAME: Sankyu
KK
MAIN OFFICE: 6-5-23 Kachidoki Chuoku Tokyo 104-0054
JAPAN
Tel:
03-3536-3939 Fax: 03-3536-3864
*.. The
given address is Tokyo Second Office
-
URL: http://www.sankyu.co.jp
E-Mail address: (thru
the URL)
ACTIVITIES: Port
transport, other
BRANCHES: Tokyo,
Nagoya, Osaka, Kita-Kyushu, other (Tot 48)
OVERSEAS: 44
locations in S/E Asia, China, Europe, USA, Mid East (--subsidiaries)
OFFICERS: KIMIHIRO
NAKAMURA, PRES Kimikazu Nakamura, ch
Yasuto Ago, v pres Hideki Miyoshi, s/mgn dir
Takashi
Ogawa, s/mgn dir Yasuo Nakazato,
mgn dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 531,956 M
PAYMENTS REGULAR CAPITAL Yen 28,619 M
TREND UP WORTH Yen
178,862 M
STARTED 1917 EMPLOYES 11,868
COMMENT: PORT TRANSPORT, OTHER FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 17,737.6 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
This is a second-tier logistics & a major port transport firm, strong in international & corporate logistics. Plant engineering/maintenance business, including blast furnace delivery, installation & maintenance registers about 40% of sales. It is strengthening overseas operational/management capabilities in S/E Asia & China. It takes a lead in Middle East & South America.
FINANCIAL
INFORMATION
The sales volume for Mar/2018 fiscal term amounted to Yen 531,956 million, a 4.3% up from Yen 510,027 million in the previous term. The recurring profit was posted at Yen 31,125 million and the net profit at Yen 19,402 million, respectively, compared with Yen 28,066 million recurring profit and Yen 18,202 million net profit, respectively, a year ago.
For the current term ending Mar 2018 the recurring profit is projected at Yen 30,000 million and the net profit at Yen 19,000 million, respectively, on a 0.37% fall in turnover, to Yen 530,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 17,737.6 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Nov 1917
Regd
No.: 2908-01-005328 (Tokyo-Chuoku)
Listed
company: Tokyo, Fukuoka S/E’s
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
1,000 million shares
Issued: 326,078,030
shares
Sum: Yen
28,619 million
Major shareholders (%): Japan Trustee Services T (7.6), Company’s Treasury Stock (7.2), Master Trust Bank of Japan T (5.3), Japan Trustee Services T9 (4.0), other; foreign owners (27.6)
No.
of shareholders: 7,543
Nothing
detrimental is known as to the commercial morality of executives.
.
OPERATION
Activities: Port transport firm, distribution (51%), plant engineering & maintenance (44%), others (5%)
Overseas Sales Ratio (16%)
Clients: [Mfrs, wholesalers] Shinnittetsu Sumikin, JXTG Energy, Idemitsu Kosan, Mitsui Chemical, Orient
Overseas Containers, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sankyu Transport, Sankyu Plant Techno, Metal One
Kyushu, MIC Kyushu, other
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (H/O)
MUFG (H/O)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2019 |
31/03/2018 |
31/03/2017 |
31/03/2016 |
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Annual
Sales |
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530,000 |
531,956 |
510,027 |
489,441 |
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Recur.
Profit |
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30,000 |
31,125 |
28,066 |
20,707 |
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Net
Profit |
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19,000 |
19,402 |
18,208 |
12,911 |
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Total
Assets |
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402,028 |
383,448 |
371,243 |
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Current
Assets |
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197,794 |
179,484 |
165,780 |
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Current
Liabs |
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140,073 |
127,504 |
123,580 |
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Net
Worth |
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178,862 |
159,737 |
144,544 |
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Capital,
Paid-Up |
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28,619 |
28,619 |
28,619 |
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Div.P.Share(¥) |
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65.00 |
12.00 |
11.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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-0.37 |
4.30 |
4.21 |
.. |
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Current Ratio |
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.. |
141.21 |
140.77 |
134.15 |
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N.Worth Ratio |
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.. |
44.49 |
41.66 |
38.94 |
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R.Profit/Sales |
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5.66 |
5.85 |
5.50 |
4.23 |
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N.Profit/Sales |
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3.58 |
3.65 |
3.57 |
2.64 |
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Return On Equity |
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.. |
10.85 |
11.40 |
8.93 |
Notes: Forecast (or estimated) figures for the
31/03/2019 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 67.52 |
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1 |
INR 91.49 |
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Euro |
1 |
INR 80.52 |
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YEN |
1 |
INR 0.62 |
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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VIV |
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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.