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Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
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Name : |
KENOH TRADING CO LTD |
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Registered Office : |
348 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
April 1993 |
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Com. Reg. No.: |
1100-01-014922 (Niigata-Sanjo) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of DIY goods |
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No. of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow |
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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 |
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Risk Category |
ECGC Classification |
|
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 |
KENOH TRADING CO LTD
Kenoh Boeki KK
348 Tei
Fukushima-Shinden Sanjo City Niigata-Pref 959-1155 JAPAN
Tel:
0256-45-3451 Fax: 0256-45-6166
E-Mail address: kno@kenyo.co.jp
Import,
wholesale of DIY goods
Nil
TAKASHI
KONDOH, PRES Yoshio Kondoh, v pres
Minoru
Kondoh, dir Koichi
Kondoh, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 492 M
PAYMENTS Slow CAPITAL Yen 40 M
TREND UP WORTH Yen 78 M
STARTED 1993 EMPLOYES 3
TRADING FIRM SPECIALIZNG IN DIY GOODS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE OOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading division separated from Konyo Co Ltd, mfr of DIY goods at the caption address. This is a trading firm specializing in import and wholesale of DIY goods: carpenter’s tools, working tools (rasps, saws, cutlery), gardening tools, other. Goods are imported from China, Korea, Taiwan, other. 75% of the goods are supplied to the parent, Konyo Co Ltd.
The sales volume for Dec/2012 fiscal term amounted to Yen 503 million, a
2% up from Yen 492 million in the previous term. The financials are only partially disclosed
for the term. The net profit was posted
at Yen 4 million, compared with Yen 1 million a year ago.
For the current term ending Dec 2013 the net profit is projected at Yen
5 million, on a 3% rise in turnover, to 520 million. Imports are increasing..
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
Date Registered: Apr 1993
Regd No.: 1100-01-014922 (Niigata-Sanjo)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
3,200 shares
Issued:
800 shares
Sum: Yen 40 million
Major shareholders (%): Konyo Co Ltd (75%), Takashi
Kondo & families (--25)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales
DIY goods: carpenter’s tools, working tools (files, saws, cutlery, other),
gardening tools & supplies, other (--100%)
Clients: [Mfrs,
wholesalers] Konyo Co Ltd (75%), hardware shops in the Prefecture (25%)
No. of accounts: 200
Domestic areas of
activities: Centered in Niigata-Pref
Suppliers: [Mfrs,
wholesalers] Imports from China, Korea, Taiwan, other
Payment record: Slow
Location:
Business area in Sanjo City, Niigata-Pref.
Office premises at the caption address are owned by the parent, Konyo Co
Ltd, and maintained satisfactorily.
Bank References:
· Hokuetsu Bank (Ichinokido)
Daiko
Bank (Sanjo)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual
Sales |
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503 |
492 |
424 |
408 |
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Recur.
Profit |
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|
2 |
1 |
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Net
Profit |
|
4 |
1 |
1 |
1 |
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Total
Assets |
|
|
228 |
218 |
194 |
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Current
Assets |
|
|
227 |
215 |
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Current
Liabs |
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|
55 |
52 |
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Net Worth |
|
|
78 |
77 |
76 |
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Capital,
Paid-Up |
|
|
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 |
2.24 |
16.04 |
3.92 |
13.33 |
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Current Ratio |
|
.. |
412.73 |
413.46 |
.. |
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N.Worth Ratio |
.. |
34.21 |
35.32 |
39.18 |
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R.Profit/Sales |
|
.. |
0.41 |
0.24 |
.. |
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N.Profit/Sales |
0.80 |
0.20 |
0.24 |
0.25 |
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Return On Equity |
.. |
1.28 |
1.30 |
1.32 |
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Notes:
Resulted & actual figures for the 31/12/2012 fiscal term but only partially
disclosed.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
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UK Pound |
1 |
Rs.83.54 |
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Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
---- |
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.