MIRA INFORM REPORT

 

 

Report Date :

25.10.2012

 

IDENTIFICATION DETAILS

 

Name :

LUKIO CO LTD

 

 

Registered Office :

7-22-8 Okusawa Setagayaku Tokyo 155-0032

 

 

Country :

Japan

 

 

Financials (as on) :

31.05.2012

 

 

Date of Incorporation :

August 1994

 

 

Com. Reg. No.:

0109-01-023633 (Tokyo-Setagayaku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of large-size ink-jet printers

 

 

No. of Employees :

14 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but Correct

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

 

 

 

Company name

 

LUKIO CO LTD

 

 

REGD NAME

 

KK Rukio

 

 

MAIN OFFICE

 

7-22-8 Okusawa Setagayaku Tokyo 155-0032 JAPAN

Tel: 03-5758-0687     Fax: 03-5758-0663

 

URL:                             http://www.lukio.com/

E-Mail address:                        I_sales@lukio.com

 

 

ACTIVITIES

 

Import, wholesale of large-size ink-jet printers

 

 

BRANCHES

 

Nil

 

 

FACTORIES

 

Ohtaku (Tokyo), Saitama (--warehousing & distribution centers)

 

 

OFFICER(S)

 

SHOGO FURUYA, PRES

Toshiko Furuya, dir

Yoshikazu Shima, dir

 

Yen Amount:     In million Yen, unless otherwise stated

SUMMARY

 

FINANCES                    FAIR                             A/SALES                                  Yen 1,138 M

PAYMENTS                  Slow                          but Correct  CAPITAL          Yen 80 M

TREND             STEADY                       WORTH                                    Yen 137 M

STARTED                     1994                             EMPLOYES                              14

 

 

COMMEnT

 

 IMPORTER AND WHOLESALER SPECIALIZING IN LARGE-SIZE INKJET PRINTERS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

The subject company was established by Shogo Furuya in order to make most of his experience in the subject line of business.  Originally named Optec-Larry Art Co Ltd, in tie-up with Optec Co Ltd, then changed to Nexus Co Ltd in Jul 1977, and to the captioned name in Sept 1999.  Originally started importing and selling large printers and computers.  Now handles wide format & super wide format digital printers as main items.  In Dec 1999 started sales of NUR Microcomputers’ products.  Then in May 2001 imports started from DGI (Korea).  The firm also handles billboard sign sheets, marking sheets, mesh sheets, tarpaulin FF sheets, etc, with well entry into billboard sign mfrs & printing firms.  It also offers maintenance & repairing services nationwide.  Clients include inkjet printing firms, billboard sign printing firms, other.

 

 

FINANCIAL INFORMATION

 

The sales volume for May/2005 fiscal term amounted to Yen 508 million, a 26% sharp rise from Yen 404 million in the previous term.  This is thanks to the expansion of clients into advertising firms, plus the maintenance & repairing services grew.  The net profit was posted at Yen 3 million, compared with Yen 2 million a year ago. 

 

For the current term ending May 2006 the net profit is projected at Yen 7 million, on a 57% further rise in turnover, to Yen 800 million.  Expansion into advertising and other industries continue growing with maintenance services still enjoying enlarged customers.  The economy is on the way to recovery and expansion, too.  The firm targets still higher at Yen 850 million sales.  We have estimated rather modestly.

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Aug 1994

Regd No.:         0109-01-023633 (Tokyo-Setagayaku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         6,400 shares

Issued:                1,600 shares

Sum:                   Yen 80 million

Major shareholders (%): Shogo Furuya (83), Yoshikazu Shima (17)

No. of shareholders: 2

 

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

 

 

OPERATION

 

Activities: Imports and wholesales wide format & super wide format digital inkjet printers & presses, UV-cured ink flatbed printers (65%), billboard sign sheets, marking sheets, mesh sheets, tarpaulin FF sheets, other related products, including printers’ consumable supplies & equipment (--30%), maintenance, other (5%). 

Products are centrally imported, with partial supply from domestic suppliers.

 

Clients: [Drafting equipment mfrs, film mfrs, wholesalers] Fuji Kaseihin Co, Kimoto Co, A-Zett Kikaku, Daido Co, Haramachi Sign Co, Art Link Co, other.

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Agfa Gevalt Japan, Wonbin Japan, Gandinnovations (Canada), DGI (Korea & Taiwan), NUR Microcomputers (USA), Ritrama, Super Wide, Lintec Corp, Anderson Club, other.

 

Payment record: Slow but Correct 

 

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

 

Bank References:

SMBC (Setagaya)

MUFG (Sangenjaya)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/05/2012

31/05/2011

31/05/2010

31/05/2009

Annual Sales

　

1,337

1,138

1,060

1,030

Recur. Profit

　

　

2

7

　

Net Profit

　

8

6

6

8

Total Assets

　

　

835

937

954

Current Assets

　

　

604

682

　

Current Liabs

　

　

149

130

　

Net Worth

　

　

137

130

124

Capital, Paid-Up

　

　

80

80

80

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

17.49

7.36

2.91

-1.53

    Current Ratio

 

..

405.37

524.62

..

    N.Worth Ratio

..

16.41

13.87

13.00

    R.Profit/Sales

 

..

0.18

0.66

..

    N.Profit/Sales

0.60

0.53

0.57

0.78

    Return On Equity

..

4.38

4.62

6.45

 Notes: Resulted figures for the 31/05/2012 fiscal term, only partially disclosed.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.59

UK Pound

1

Rs.85.81

Euro

1

Rs.69.91

 

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%)

 

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.