MIRA INFORM REPORT
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Report Date : |
05.10.2011 |
IDENTIFICATION DETAILS
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Name : |
GYK CO LTD
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Registered Office : |
4-15-8
Sawaragi-Nishi Ibaraki Osaka-Pref 667-0868 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
October
1959 |
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Com. Reg. No.: |
(Osaka-Ibaraki)
000832 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of mowers, sprinklers, other golf course management equipment |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 193.6 Million |
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Status : |
Satisfactory |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
GYK CO LTD
REGD NAME
Golf Jo Yohin KK
MAIN OFFICE
4-15-8
Sawaragi-Nishi Ibaraki Osaka-Pref 667-0868 JAPAN
Tel:
0726-32-5861 Fax: 0726-35-3203
E-Mail address: info@gyk.co.jp
ACTIVITIES
Import, wholesale of mowers, sprinklers, other golf course
management equipment
BRANCHES
Chiba,
Sendai, Shizuoka, Nagoya, Okayama, Fukuoka, other (Total 8)
OFFICER(S)
GIICHI
HATSUTA, PRES Giichi
Hatsuta, ch
Yuji Ashiwake, mgn dir Kikuo Kera, mgn dir
Yuji
Kamimoto, dir Katsuo
Nishimura, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,335 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND SLOW WORTH Yen
1,873 M
STARTED 1959 EMPLOYES 92
COMMENT
IMPORTER SPECIALIZING IN GOLF COURSE MANAGEMENT
EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 193.6 MILLION, 30 DAYS NORMAL TERSM
HIGHLIGHTS
The subject company was established by Giichi Hatsuta in order to make most of his experience in the subject line of business. This is a trading firm specializing in import and wholesale of golf course management equipment: turf mowers, sprinkler systems, aerators, utility vehicles, etc. Also handles golf goods. The firm acts as agent for The Toro Co, Par Aide Products Co, Standard Golf Co (--USA) for importing the equipment and golf outfits. The firm is a group company of Hatsuta Industrial Co and Hatsuta Kakusanki Ltd, owned by the Hatsuta family.
FINANCIAL INFORMATION
Fiscal term changed to Dec from 2010 from Mar/2010. The growth rates are adjusted on a 12-month basis.
The sales volume for Dec/2010 fiscal term amounted to Yen 3,335million, a 5% down as adjusted on a 12-month basis, from Yen 4,211 million in the previous term, as affected by the global economic downturn. Sales declined particularly in the first half of the term. Consumer spending was sluggish. Golfing traffic declined substantially. The recurring profit was posted at Yen 116 million and the net profit at Yen 80 million respectively, compared with Yen 201 million recurring profit and Yen 120 million net profits, respectively, a year ago.
For the current term ending Dec/2011 the net profit is projected at Yen 100 million, on a 5% rise in turnover, to Yen 4,200 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 19.58 million, on normal terms.
REGISTRATION
Date Registered: Oct 1959
Regd No.: (Osaka-Ibaraki) 000832
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
200,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major
shareholders (%): Employees’ S/Holding Assn (18), Kenji Ohya (12), Kikuo
Hatsuta
(4), Giichi Hatsuta (3))
No. of shareholders: 41
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales golf course management tools & equipment: turf mowers, sprinkler systems, golf course irrigation systems, spraying equipment, turf cultivation equipment, utility vehicles, also handles golf goods (--100%).
Clients: Nationwide golf courses, sports grounds, parks, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from Toro Co, Par Aide Products, Standard Golf (--USA), other. Also supplied from Marunaka, Hatsuta Kakusanki, New Holland HFT Japan, other.
Payment record:
Regular
Location:
Business area in Ibaraki City, adjacent to Osaka City. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
SMBC
(Ibaraki)
MUFG
(Ibaraki-Ekimae)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2011 |
31/12/2010 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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4,200 |
3,335 |
4,211 |
4,843 |
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Recur.
Profit |
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146 |
201 |
196 |
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Net
Profit |
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100 |
80 |
120 |
100 |
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Total
Assets |
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90 |
2,534 |
3,046 |
3,336 |
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Current
Assets |
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1,687 |
2,235 |
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Current
Liabs |
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493 |
1,100 |
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Net
Worth |
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1,873 |
1,759 |
1,665 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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Div.P.Share(¥) |
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100.00 |
100.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.94 |
-4.96 |
-13.05 |
-0.06 |
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Current Ratio |
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.. |
342.19 |
203.18 |
.. |
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N.Worth Ratio |
.. |
73.91 |
57.75 |
49.91 |
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R.Profit/Sales |
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.. |
4.38 |
4.77 |
4.05 |
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N.Profit/Sales |
2.38 |
2.40 |
2.85 |
2.06 |
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Return On Equity |
.. |
4.27 |
6.82 |
6.01 |
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Notes: Forecast (or estimated) figures for
31/12/2011 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.23 |
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UK Pound |
1 |
Rs.76.07 |
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Euro |
1 |
Rs.65.06 |
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.