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Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
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Name : |
KITA SANGYO CO LTD |
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Registered Office : |
1-3-9 Momodani Ikunoku Osaka 544-0034 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
June 1938 |
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Com. Reg. No.: |
1200-01-017220 (Osaka-Ikunoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of crown caps,
bottle caps |
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No. of Employees : |
96 |
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 – 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 |
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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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
KITA SANGYO CO LTD
Kita Sangyo KK
1-3-9 Momodani
Ikunoku Osaka 544-0034 JAPAN
Tel: 06-6731-0251 Fax: 06-6712-6023
URL: http://www.kitasangyo.com
E-Mail address: (thru the URL)
Mfg of
crown caps, bottle caps, other
Tokyo
At the
caption addres, Nara
TSUNEO
KITA, PRES Taku Kawakami, s/mgn dir
Takashi
Noda, dir Takeshu
Haga, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,918 M
PAYMENTSNo
Complaints CAPITAL Yen
140 M
TREND SLOW WORTH Yen 2,291 M
STARTED 1938 EMPLOYES 96
MFG OF BOTTLE CAPS, CROWN CAPS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by father of Tsuneo Kita in order to
make most of his experience in the subject line of business. Tsuneo took the pres office in May 1991. This is a specialized mfr of crown caps,
bottle caps, PET bottles, other. Clients
include beer makes, sake brewers, other.
The sales volume for Sept/2012 fiscal term amounted to Yen 3,918
million, a 1% down from Yen 3,957 million in the previous term. The recurring profit was posted at Yen 160
million and the net profit at Yen 85 million, respectively, compared with Yen
178 million recurring profit and Yen 72 million net profit, respectively, a
year ago.
For the current term ending Sept 2013 the recurring profit is projected
at Yen 165 million and the net profit at Yen 85 million, respectively, on a 2%
rise in turnover, to Yen 4,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Jun 1938
Regd
No.: 1200-01-017220
(Osaka-Ikunoku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 11 million shares
Issued: 2.8 million shares
Sum:
Yen 140 million
Major shareholders (%): Crown Shokai (29), Miyoko Kita
(17),Tsuneo Kita (14)
No. of shareholders: 21
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures crown caps, bottle caps, cork caps, PET bottles (--100%)
Clients: [Sake brewers, beer makers] Gekkeikan, Nakamura Shoji, Sawa-no-Tsuru, Kirishima Shuzo, Tatsuuma-Honke Brewing (Hakushika sake), Ozeki Co, Kiku-Masamune Sake Brewing, Konishi Brewing Co, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nakamura Shoji, Asai Sangyo, Showa Denko Aluminum Trading, Matsui Chemical, Toyo Seikan Co, Lotte, other
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Ueroku)
Shoko Chukin Bank (Osaka)
Relations: Satisfactory
(In Million Yen)
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Terms
Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
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Annual
Sales |
|
4,000 |
3,918 |
3,957 |
3,921 |
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Recur.
Profit |
|
165 |
160 |
178 |
134 |
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Net
Profit |
|
85 |
85 |
72 |
79 |
|
Total
Assets |
|
|
3,523 |
3,405 |
3,328 |
|
Current
Assets |
|
|
2,825 |
2,720 |
2,622 |
|
Current
Liabs |
|
|
1,118 |
1,065 |
1,056 |
|
Net
Worth |
|
|
2,291 |
2,205 |
2,141 |
|
Capital,
Paid-Up |
|
|
140 |
140 |
140 |
|
Div.Ttl
in Million (¥) |
|
|
8.4 |
5.6 |
5.6 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.09 |
-0.99 |
0.92 |
1.98 |
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Current Ratio |
|
.. |
252.68 |
255.40 |
248.30 |
|
N.Worth Ratio |
.. |
65.03 |
64.76 |
64.33 |
|
|
R.Profit/Sales |
|
4.13 |
4.08 |
4.50 |
3.42 |
|
N.Profit/Sales |
2.13 |
2.17 |
1.82 |
2.01 |
|
|
Return On Equity |
.. |
3.71 |
3.27 |
3.69 |
|
Notes:
Forecast (or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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 |
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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 |
|
---- |
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.