MIRA INFORM REPORT

 

 

Report Date :           

19.08.2011

 

IDENTIFICATION DETAILS

 

Name :

KINSHODO CO LTD

 

 

Registered Office :

3-26-2 Ohtoba Ogagi Gifu-Pref 503-0956

 

 

Country :

Japan

 

 

Financials (as on) :

30.04.2011

 

 

Date of Incorporation :

May 1982

 

 

Com. Reg. No.:

(Gifu-Ogaki) 013487

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of garage jack

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 31.5 Million

Status :

Satisfactory

Payment Behaviour :

Usually Correct 

Litigation :

----

 

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 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

 Bottom of Form

KINSHODO CO LTD

 

REGD NAME 

 

KK Kinshodo

 

 

MAIN OFFICE

 

3-26-2 Ohtoba Ogagi Gifu-Pref 503-0956 JAPAN

Tel: 0584-82-6656     Fax: 0584-89-8144

                                               

URL:                             http://www.kinshodo.co.jp

E-Mail address:                        (thru the URL)

 

 

ACTIVITIES

 

Import, export, wholesale of garage jack

 

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

HIDETOSHI WATANABE, PRES            

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 1,700 M

PAYMENTS      REGULAR                     CAPITAL           Yen 24 M

TREND SLOW                          WORTH            Yen 244 M

STARTED         1982                             EMPLOYES      29

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN GARAGE JACK.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 31.5 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Hidetoshi Watanabe in order to succeed the business operations of a company started by his father in 1949.  This is a trading firm for import, export and wholesale of garage jack: floor type, light weight type, air type, standard type, other.  Goods are imported directly and thru trading houses.  Clients include automobile dealers, other.

 

 

FINANCIAL INFORMATION

           

Financials are only partially disclosed as is the case with family-based companies

 

The sales volume for Apr/2010 fiscal term amounted to Yen 1,700 million, a similar amount in the previous term.  Imports & exports revenues were eroded in Yen terms by the high Yen.  The net profit was posted at Yen 15 million, similarly in the preceding term.

 

For the term that ended Apr 2011 the net profit was projected at Yen 16 million, on a 6% rise in turnover, to Yen 1,800 million.  Final results are yet to be released. 

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 31.5 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  May 1982

Regd No.:         (Gifu-Ogaki) 013487

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         195,000 shares

Issued:                48,960 shares

Sum:                   Yen 24.48 million

Major shareholders (%): Hidetoshi Watanabe (100)

 

Nothing detrimental is known as to his commercial morality.

 

OPERATION

           

Activities: Imports, exports and wholesales garage jack: standard type, floor type, light weight type (aluminum make), air type, other (--100%).

 

Clients: [Mfrs, wholesalers] Empire Motor Corp, SPK KK, KK YFC, TMY Corp, other

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Nagoya

 

Suppliers: [Mfrs, wholesalers] Kanematsu Chemical Corp, Kanematsu Corp, Royal Dutch Shell, Jonson Controls Inc, Repsol, other

 

Payment record: Regular

 

Location: Business area in Ogaki City, Gifu-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

·         Ogaki Kyoritsu Bank (Enami)

·         Ogaki Shinkin Bank (Ogaki-Inter)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

30/04/2011

30/04/2010

30/04/2009

30/04/2008

Annual Sales

　

1,800

1,700

1,700

1,820

Recur. Profit

　

　

　

　

　

Net Profit

　

16

15

15

20

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

244

229

214

Capital, Paid-Up

　

　

24

24

24

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.88

0.00

-6.59

2.82

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.89

0.88

0.88

1.10

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 30/04/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.61

UK Pound

1

Rs.75.32

Euro

1

Rs.65.68

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.