MIRA INFORM REPORT
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Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
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Name : |
K F TRADING CO LTD |
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Registered Office : |
KDC Nihombashi Bldg 7F, 1-5-11 Nihombashi-Honcho Chuoku Tokyo 103-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
April 1986 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 042915 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg, import, wholesale of
castor oils & derivatives |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 45.5 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
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 |
Company name
K F TRADING CO LTD
REGD NAME
K F Trading KK
MAIN OFFICE
KDC Nihombashi Bldg
7F, 1-5-11 Nihombashi-Honcho Chuoku Tokyo 103-0023, JAPAN
Tel:
03-5203-4141 Fax: 03-5203-4040
URL: http://www.kft.co.jp
E-Mail address: info@kft.co.jp
ACTIVITIES
Mfg,
import, wholesale of castor oils & derivatives
BRANCHES
Saitama
(warehouse & distribution center)
FACTORIES
Thailand
(3) (--subsidiaries); India (2) (--subcontracted) (See REGISTRATION)
OFFICERS
TAKAFUMI MIYAZAKI, PRES Hiroshi Masuda, dir
Daisuke Kobayashi, dir Tatsumi Kitakawara,
dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,775 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
470 M
STARTED 1981 EMPLOYES 15
COMMENT
MFR, IMPORTER & WHOLESALER OF CASTOR OILS &
DERIVATIVES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 45.5 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established on the basis of business rights of
castor oil transferred from Soken
Chemical & Engineering Co Ltd, chemicals mfr, Tokyo. This is a trading firm, with mfg division, specializing in import and
wholesale of castor oils & derivatives.
Goods are manufactured at three
subsidiary makers in Thailand and two subcontracted mfrs in India (See
REGISTRATION). Clients include major ink makers, cosmetic mfrs, and other
chemical makers, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 2,775 million,
an 11% down from Yen 3,132 million in the previous term, as affected by the
global economic downturn, particularly in the first half of the term. Demand decreased from cosmetics makers and
paint/ink mfrs. High Yen hurt revenues
& profits in Yen terms. The
recurring profit was posted at Yen 224 million and the net profit at Yen 31
million, respectively, compared with Yen 117 million recurring profit and Yen
52 million net profit, respectively, a year ago.
For the term that ended Mar 2011 the recurring profit was projected at
Yen 225 million and the net profit at Yen 30 million, respectively, on a 3%
rise in turnover, to Yen 2,850 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 45.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1986
Regd No.: (Tokyo-Chuoku) 042915
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued: 200 shares
Sum: Yen 10
million
Major shareholders (%): Company’s Treasury Stock
(64.5), Takafumi Miyazaki (6), Hiroshi Matsuda (6), Daisuke Kobayashi (6),
Tatsumi Kitakawara (6)
No. of shareholders:
8
Nothing
detrimental is known as to the commercial morality of executives.
Related companies:
(Subsidiary
mfrs): TK Wax Co Ltd, T J Pac Co Ltd, TS Chemical Co Ltd (--Thailand);
(Subcontracted
mfrs): Jayant Oils & Derivatives Ltd, Jayant Agro Organics Ltd (--India)
OPERATION
Activities: Manufactures,
imports and wholesales hydrogenated/dehydrated castor oil & derivatives
(--70%), other industrial chemicals & chemical ingredients (--30%).
Castor oil & derivatives are manufactured at three subsidiary mfrs
in Thailand and two sub-contracted mfrs in India, and imported.
Clients: [Chemical mfrs,
cosmetics mfrs] Kyodo Yushi Co, Lion Corp, Johnson
Professional, Johnson
Co, Kusumoto Chemicals, Kawaken Fine Chemicals, Rinrei Wax Co, Katsuta Kako, Takemoto
Oil & Fat, Toto Kagaku Kogyo, Toyo Ink Mfg, other.
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] TK Wax Co, Jayant Agro Organics, Jayant Oils & Derivatives
Ltd, TJ Pac, TS
Chemicals, other.
Domestically, supplied from Katsuta Kako, Kanematsu Chemical, Kawaken
Fine Chemicals, Toa Kasei Co,
Japan Chemtech Ltd, Katsuta Kako KK, Toei Chemical Co, Honjo Chemical,
other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Muromachi)
SMBC
(Nihombashi)
Relations:
Satisfactory
FINANCES
(In million Yen):
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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2,850 |
2,775 |
3,132 |
3,106 |
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Recur.
Profit |
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225 |
224 |
117 |
145 |
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Net
Profit |
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30 |
31 |
52 |
73 |
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Total
Assets |
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1,838 |
1,948 |
1,568 |
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Current
Assets |
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1,396 |
1,467 |
1,127 |
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Current
Liabs |
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901 |
854 |
985 |
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Net
Worth |
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470 |
440 |
409 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.70 |
-11.40 |
0.84 |
18.96 |
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Current Ratio |
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.. |
154.94 |
171.78 |
114.42 |
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N.Worth Ratio |
.. |
25.57 |
22.59 |
26.08 |
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R.Profit/Sales |
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7.89 |
8.07 |
3.74 |
4.67 |
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N.Profit/Sales |
1.05 |
1.12 |
1.66 |
2.35 |
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Return On Equity |
.. |
6.60 |
11.82 |
17.85 |
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Notes: Forecast (or estimated) for the
31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.79 |
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UK Pound |
1 |
Rs.73.19 |
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Euro |
1 |
Rs.63.59 |
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.