|
Report Date : |
12.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
KUMEDA SEIMITSU KK |
|
|
|
|
Registered Office : |
805 Kasa Miki
Hyogo-Pref 673-0402 |
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|
|
|
Country : |
Japan |
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|
|
|
Financials (as on) : |
30.09.2012 |
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|
|
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Date of Incorporation : |
November
1973 |
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|
|
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Com. Reg. No.: |
1400-01-036237
(Hyogo-Miki City) |
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|
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Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Manufacturer
of jigs |
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|
|
|
No. of Employees : |
30 employees |
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 |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong
work ethic, mastery of high technology, and a comparatively small defense
allocation (1% of GDP) helped Japan develop a technologically advanced economy.
Two notable characteristics of the post-war 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 are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001, and
third-place India, which edged out Japan in 2011. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan
further into recession. Government stimulus spending helped the economy recover
in late 2009 and 2010, but the economy contracted again in 2011 as the massive
9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies
remain tight because Japan has temporarily shut down almost all of its nuclear
power plants after the Fukushima Daiichi nuclear reactors were crippled by the
earthquake and resulting tsunami. Estimates of the direct costs of the damage -
rebuilding homes, factories, and infrastructure - range from $235 billion to
$310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
KUMEDA SEIMITSU KK
Kumeda Seimitsu KK
805 Kasa Miki
Hyogo-Pref 673-0402 JAPAN
Tel:
0794-82-6217 Fax: 0794-83-2019
URL: http://www.kumedaseimitsu.co.jp
E-Mail address: (thru the URL)
Mfg of
jigs
Nil
China
At the
caption address
TAKAO
KUMEDA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 370 M
PAYMENTSNo Complaints
CAPITAL Yen 10 M
TREND UP WORTH Yen 163 M
STARTED 1973 EMPLOYES 30
MFR OF JIGS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1970 by Takao Kumeda, on his account, for mfg jigs. Incorporated in 1973. This is a specialized mfr of hydraulic/pneumatic jigs and attachments. Goods are also manufactured at its factory in China. Goods are exported.
Financials are only partially disclosed.
The sales volume for Sept/2011 fiscal term amounted to Yen 370 million, a 16% up from Yen 320 million in the previous term. Exports rose. The net profit was posted at Yen 35 million, compared with Yen 33 million net profit a year ago.
For the term that ended Sept 2012 the net profit was projected at Yen 37 million, on a 3% rise in turnover, to Yen 380 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov 1973
Regd No.: 1400-01-036237
(Hyogo-Miki City)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued:
20,000 shares
Sum: Yen 10 million
Major shareholders (%): Takao
Kumeda (70) and families (--30)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures hydraulic/pneumatic jigs (100%)
Clients: [Mfrs, wholesalers] Mori Seiki Co, Toyo Rubber Ind, Kobe Steel, Caterpillar Japan, Makino J Co, Nissan Motors, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kainuma Toishi KK, Hanshin Metalics Corp, Yuasa Trading, Taniguchi Inc, other
Payment record: No Complaints
Location: Business area in Miki, Kobe-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Minato
Bank (Miki)
Shoko
Chukin Bank (Kobe)
Relations:
Satisfactory
(In Million Yen)
|
|
|
30/09/2012 |
30/09/2011 |
30/09/2010 |
30/09/2009 |
|
Annual
Sales |
|
380 |
370 |
320 |
300 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
37 |
35 |
33 |
-106 |
|
Total
Assets |
|
|
451 |
N/A |
N/A |
|
Net
Worth |
|
|
163 |
128 |
95 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.70 |
15.63 |
6.67 |
-54.41 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
36.14 |
.. |
.. |
||
|
N.Profit/Sales |
9.74 |
9.46 |
10.31 |
-35.33 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/09/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.32 |
|
UK Pound |
1 |
Rs.87.36 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.