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Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ZENKEN CO LTD |
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Registered Office : |
Frontier Koishikawa Bldg 2F, 1-28-1 Koishikawa Bunkyoku Tokyo 112-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Year of Establishment : |
February 1973 |
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Com. Reg. No.: |
0100-01-1003526 (Tokyo-Bunkyoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of water purifier, UV heaters, air purifier, other |
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No. of Employees : |
32 |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
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
ZENKEN CO LTD
REGD NAME: KK
Zenken
MAIN OFFICE: Frontier
Koishikawa Bldg 2F, 1-28-1 Koishikawa Bunkyoku Tokyo 112-0002
JAPAN
Tel:
03-5840-8270 Fax: 03-5840-8298
URL: http://www.zenken-net.co.jp
E-Mail address: (thru the URL)
Import, export,
wholesale of water purifier, UV heaters, air purifier, other
Osaka, Fukuoka
TAIRIN OCHI, PRES
Seiichi O’no, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,316 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 40 M
TREND UP WORTH Yen 1,871 M
STARTED 1973 EMPLOYES 32
TRADING FIRM SPECIALIZING IN WATER PURIFIERS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$300,000 / O/A 30 DAYS.
The subject company was established by
Tairin Ochi in order to make most o his experience in the subject line of
business. This is a trading firm
specializing in import, export and wholesale of water purifiers, UV heaters,
cookers, other home electric appliances.
Goods are both imported and exported.
Clients include consumer co-operatives, other, nationwide.
The sales volume for Mar/2011 fiscal
term amounted to Yen 2,316 million, a 2% up from Yen 2,271 million in the
previous term. The recurring profit was posted
at Yen 306 million and the net profit at Yen 163 million, respectively,
compared with Yen 203 million recurring profit and Yen 118 million net profit,
respectively, a year ago.
For the term that ended Mar 2012 the
recurring profit was projected at Yen 315 million and the net profit at Yen 165
million, respectively, on a 3% rise in turnover, to Yen 2,380 million. Final results are yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements. The proposed amount is considered
well within the firm’s financial capacities.
Date Registered: Feb
1973
Regd No.:
0100-01-1003526 (Tokyo-Bunkyoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 320,000 shares
Issued:
80,000 shares
Sum: Yen 40 million
Major
shareholders (%): Nikken Seil Co Ltd* (100)
*..Mfr of reagents, at the caption address, founded
2003, capital Yen 80 million, sales
Yen 324 million, net
profit Yen 1 million, employees 16, pres Tairin Ochi, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales: water purifier, UV heaters, air purifiers, electric cooking
wares, hot carpet, electric heating mattress, other home electric appliances;
leasing of water purifiers, other (--100%).
Clients: [Mfrs,
wholesalers] Muso Co, Shinanen Co, Seikatsu Club Consumer’s Co-Operation Union,
Sugar Lady Co, Consumer’s Co-op Green Co-ops, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toyo Giken Co, Kaneko Seisakusho, Yamamoto Electric Corp, Sowa
Textile Ind, Kanto NOK Hambai, Mitsubishi Rayon Cleansui Co, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Hamamatsu)
MUFG (Kasugacho)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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2,380 |
2,316 |
2,271 |
2,206 |
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Recur.
Profit |
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315 |
306 |
203 |
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Net
Profit |
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165 |
163 |
118 |
83 |
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Total
Assets |
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2,247 |
2,014 |
1,861 |
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Current
Assets |
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2,169 |
1,839 |
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Current
Liabs |
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376 |
306 |
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Net
Worth |
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1,871 |
1,707 |
1,589 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.76 |
1.98 |
2.95 |
1.19 |
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Current Ratio |
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.. |
576.86 |
600.98 |
.. |
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N.Worth Ratio |
.. |
83.27 |
84.76 |
85.38 |
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R.Profit/Sales |
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13.24 |
13.21 |
8.94 |
.. |
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N.Profit/Sales |
6.93 |
7.04 |
5.20 |
3.76 |
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Return On Equity |
.. |
8.71 |
6.91 |
5.22 |
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Notes: Forecast
(or estimated) figures for the 31/03/2012 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.55.45 |
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1 |
Rs.87.98 |
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Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.