MIRA INFORM REPORT

 

 

Report Date :           

11.04.2012

 

IDENTIFICATION DETAILS

 

Name :

TETSUSHO KAYABA CORP

 

 

Registered Office :

7-24-17 Matsue Edogawaku Tokyo

 

 

Country :

Japan

 

 

Financials (as on) :

31.01.2012

 

 

Date of Incorporation :

February 1957

 

 

Com. Reg. No.:

(Tokyo-Edogawaku) 005260

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturing, processing, Import, Export of steel products

 

 

No. of Employee:

36

 

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 342.5 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, 2012

 

Country Name

Previous Rating

                   (31.12.2011)                  

Current Rating

(31.03.2012)

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

 

TETSUSHO KAYABA CORP

 

 

REGD NAME

 

Tetsusho KK

 

 

MAIN OFFICE

 

Kaneyama Bldg 7F, 1-2-12 Shinkawa Chuoku Tokyo 104-0033JAPAN

Tel: 03-3206-3221     Fax: 03-3206-3633

 

*.. Registered at: 7-24-17 Matsue Edogawaku Tokyo

 

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

E-Mail address:            tetsusho@tetsusho.co.jp

 

 

ACTIVITIES

 

Mfg, processing, import, export of steel products

 

 

BRANCHES

 

Kimitsu

 

 

FACTORIES

 

Tokyo (at the registered address)

 

 

OVERSEAS   

 

·         Tetsusho Guangzhou Co (China); Kayaba Lanka (Private) Ltd (Sri Lanka),

·         Tetsusho (Singapore) Pte Ltd, Tetsusho Nakasu Pte Ltd (--subsidiary factories)

 

OFFICERS

 

TSUNEO FUKUDA, PRES                      Hironori Maruyama, v pres                                             

Yosuke Hara, s/mgn dir              Kazuyuki Matsumoto, mgn

Ken’ichi Arai, dir                                    Keita Fukuda, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR     A/SALES                     Yen 17,841 M

PAYMENTS      REGULAR                     CAPITAL           Yen 61 M

TREND             STEADY                       WORTH            Yen 1,804 M

STARTED                     1957                             EMPLOYES      36

 

 

COMMENT    

 

MFR, IMPORTER AND EXPORTER OF STEEL PRODUCTS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 342.5 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Keisuke Furuya, as Tetsusho KK, at the reg-       istered address (now Tokyo Factory), for wholesaling steel products.  This is a trading firm specializing in steel products, such as steel plates, steel sheets, stainless steel plates, etc.  In 1958, founded Kayaba Trading KK to engage in overseas trading, which was absorbed into the parent in 1994. Tsuneo Fukuda took the pres office in 1995. Has processing yards in China, Sri Lanka and Indonesia.  Active in overseas expansion.  Founded a Singaporean subsidiary in Jul 2007, followed by in Sept 2008.  Clients are Nippon Steel group & affiliated firms,

including major general trading houses.  .

 

 

FINANCIAL INFORMATION

 

The sales volume for Jan/2011 fiscal term amounted to Yen 17,841 million, a 29% up from Yen 13,846 million in the previous term.  Sales were boosted by robust exports and imports to and from China, and other S/E Asian countries.  Domestically demand rose from construction & industrial machinery makers.  Price hike also assisted.  The recurring profit was posted at Yen 416 million and the net profit at Yen 178 million, respectively, compared with Yen 128 million recurring profit and Yen 116 million net profit, respectively, a year ago

 

For the current term ending Jan 2012 the recurring profit is projected at Yen 420 million and the net profit at Yen 180 million, respectively, on a 3% rise in turnover, to Yen 18,300 million.    In the first half, sales volume of steel products decreased due to the Earthquake and electricity saving.  Utilization ratio of processing plants worsened.  Material steel prices are rising.  Demand is brisk in China, Thailand, other.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 342.5 million, on 30 days normal terms.

 

REGISTRATION

           

Date Registered:          Feb 1957

Regd No.:         (Tokyo-Edogawaku) 005260

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         490,000 shares

Issued:                122,500 shares

Sum:                   Yen 61.25 million

 

Major shareholders (%): Tsuneo Fukuda (26), Nippon Steel Trading Co Ltd*(24), Hiroyo Furuya (14), Yujiro Tsuji (2)

 

No. of shareholders: 18

 

*.. Nippon Steel Trading Co Ltd, Steel products trader affiliated with Nippon Steel, founded 1977, listed Tokyo S/E, capital Yen 8,750 million, turnover Yen 1,079,508 million, operating profit Yen 12,493 million, recurring profit Yen 12,753 million, net profit Yen 7,432 million, total assets Yen 332,390 million, net worth Yen 55,967 million, employees 1,054, pres Tetsuo Imakubo

                       

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Manufactures & processes steel products (--100%):

 

(Sales breakdown by divisions):

 

Domestic Sales Div: hot rolled steel sheets (60%), acid pickling steel sheets (27%), cold rolled steel sheets  4%), surface-treated steel sheets (6%), others (3%);

 

Overseas Sales Div: hot rolled steel sheets (20%), cold rolled steel sheets (15%), surface-treated steel sheets (45%), electromagnetic steel sheets (5%), colored steel sheets (2%), stainless steel sheets (5%), others (8%).

 

Products are manufactured and processed at overseas subsidiary factories and affili-ates in China, Sri Lanka, Indonesia, etc.

 

Clients: [Mfrs, wholesalers] Nippon Steel Trading Co, Metal One Corp, Nittetsu Shoji Coil Center, Hanwa Corp, Onoken Co, Mitsui & Co, other.

 

Exports to China, Sri Lanka, Indonesia, Singapore and other S/E Asian countries.

No. of accounts: 500

Domestic areas of activities: Nationwide

 

Suppliers: [Steel mills, mfrs, wholesalers] Nippon Steel Corp, Nippon Steel Trading, Mitsui & Co, Nittetsu Shoji Coil Center, Nippon Stainless Shoji, Siam United Steel, Metal One Corp, other.

Imports from China, Sri Lanka, Indonesia, other.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

·         SMBC (Nihombashi-Higashi)

·         Mizuho Bank (Shinkawa)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/01/2012

31/01/2011

31/01/2010

31/01/2009

Annual Sales

　

18,300

17,841

13,846

24,052

Recur. Profit

　

420

416

128

-37

Net Profit

　

180

178

116

-5

Total Assets

　

　

6,655

5,956

6,600

Current Assets

　

　

5,420

4,899

5,561

Current Liabs

　

　

4,052

3,735

4,389

Net Worth

　

　

1,804

1,622

1,612

Capital, Paid-Up

　

　

61

61

61

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.57

28.85

-42.43

18.03

    Current Ratio

 

..

133.76

131.16

126.70

    N.Worth Ratio

..

27.11

27.23

24.42

    R.Profit/Sales

 

2.30

2.33

0.92

-0.15

    N.Profit/Sales

0.98

1.00

0.84

-0.02

    Return On Equity

..

9.87

7.15

-0.31

 

Note: Forecast (or estimated) for the 31/01/2012 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.20

UK Pound

1

Rs.81.50

Euro

1

Rs.67.15

 

 

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

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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%)

 

 

 

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.