|
Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
KOHARA GEAR INDUSTRY CO LTD |
|
|
|
|
Registered Office : |
13-17 Nakamachi Kawaguchi Saitama-Pref
332-0022 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
April 1947 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of gear |
|
|
|
|
No. of Employees : |
85 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 |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
KOHARA GEAR INDUSTRY CO LTD
(“KHK” is its brand name)
Kohara Haguruma
Kogyo KK
13-17 Nakamachi
Kawaguchi Saitama-Pref 332-0022 JAPAN
Tel:
048-255-4871 Fax: 048-256-2269
URL: http://www.khkgears.co.jp
E-Mail address: kohara@khkgears.co.jp
Mfg of
gear
Osaka
At the
caption address
TOSHIHARU
KOHARA, PRES
Takamasa
Kudo, s/mgn dir
Kenji
Kohara, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,428 M
PAYMENTS No
Complaints CAPITAL Yen 99
M
TREND SLOW WORTH Yen 5,113 M
STARTED 1947 EMPLOYES 85
MFR OF GEARS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by father of Toshiharu Kohara in
order to make most of his experience in the subject line of business. This is a specialized mfr of gears. Nation’s top maker in this line. Manufactures “KHK” brand gears of 9,500 types
in 143 categories, for general and nonelectrical machines. Goods are exported. Clients include machinery makers,
wholesalers, other.
The sales volume for May/2012 fiscal term amounted to Yen 3,428 million,
an 8% down from Yen 3,733 million in the previous term. Exports were hurt by the high Yen, reducing
revenues and profits in Yen terms. The
recurring profit was posted at Yen 93 million and the net profit at Yen 5
million, respectively, compared with Yen 96 million recurring profit and yen 63
million net profit, respectively, a year ago.
For the current term ending May 2013 the recurring profit is projected
at Yen 95 million and the net profit at Yen 60 million, respectively, on a 4%
rise in turnover, to Yen 3,550 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 1947
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
7.9 million shares
Issued:
1.98 million shares
Sum: Yen 99 million
Major shareholders (%): KHK Noda* (27), KHK* (12),
Toshiharu Kohara (10), Kenji Kohara (7), Shinji Kohara (6)
*..
Subsidiaries
No. of shareholders: 19
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures gears (100%)
Clients: [Mfrs, wholesalers] Ochiai & Co, Nichiden Corp, Takatsu Corp, Kurozen Co, Takahashi Koki Co, Maeda Dendoki Co, Hattori Corp, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Fujita Shoji & Co, KHK Noda (subsidiary maker), other
Payment record: No Complaints
Location: Business area in Kawaguchi, Saitama-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Saitama Resona Bank (Kawaguchi)
SMBC (Kawaguchi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
|
Annual
Sales |
|
3,550 |
3,428 |
3,733 |
2,750 |
|
Recur.
Profit |
|
95 |
93 |
96 |
|
|
Net
Profit |
|
60 |
5 |
69 |
-33 |
|
Total
Assets |
|
|
5,607 |
5,588 |
5,433 |
|
Current
Assets |
|
|
3,420 |
2,678 |
|
|
Current
Liabs |
|
|
494 |
454 |
|
|
Net
Worth |
|
|
5,113 |
5,130 |
5,060 |
|
Capital,
Paid-Up |
|
|
99 |
99 |
99 |
|
Div.P.Share(¥) |
|
|
0.00 |
10.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.56 |
-8.17 |
35.75 |
-10.25 |
|
|
Current Ratio |
|
.. |
692.31 |
589.87 |
.. |
|
N.Worth Ratio |
.. |
91.19 |
91.80 |
93.13 |
|
|
R.Profit/Sales |
|
2.68 |
2.71 |
2.57 |
.. |
|
N.Profit/Sales |
1.69 |
0.15 |
1.85 |
-1.20 |
|
|
Return On Equity |
.. |
0.10 |
1.35 |
-0.65 |
|
Notes:
Forecast (or estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.69 |
|
UK Pound |
1 |
Rs.89.20 |
|
Euro |
1 |
Rs.72.10 |
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.