|
Report Date : |
27.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KASHIWABARA CORPORATION |
|
|
|
|
Registered Office : |
1-5-16 Yamatecho Iwakuni Yamaguchi-Pref
740-0022 |
|
|
|
|
Country : |
Japan |
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|
|
|
Financials (as on) : |
31.01.2013 |
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|
|
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Date of Incorporation : |
March 1953 |
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|
|
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Com. Reg. No.: |
2400-01-011264 (Yamaguchi-Iwakuni) |
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|
|
|
Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Painting works, anti-corrosive works, water-proofing works |
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|
|
|
No. of Employees : |
455 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 |
KASHIWABARA CORPORATION
KK Kashiwabara
Corporation
1-5-16 Yamatecho
Iwakuni Yamaguchi-Pref 740-0022 JAPAN
Tel:
0827-22-1255 Fax: 0827-22-2504
URL: http://www.kashiwabara.co.jp
E-Mail address: (thru the URL)
Painting
works, anti-corrosive works, water-proofing works
Kawasaki,
Osaka, Nagoya, Chiba, Ibaraki, Saitama, Funabashi, other (Tot 45)
Indonesia
At the
caption address, other
SHINJI
KASHIWABARA, PRES Takeshi Hino, s/mgn dir
Shinsuke
Kashiwabara, mgn dir Masahiko Hikijiri,
dir
Kazuyuki
Tsuhara, dir Kazuo Okano,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 27,894 M
PAYMENTSNo
Complaints CAPITAL Yen
250 M
TREND SLOW WORTH Yen 8,040 M
STARTED 1953 EMPLOYES 455
PAINTING WORKS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1949 by father of
Shinji Kashiwabara, on his account, and was incorporated in 1953. The firm specialized in painting works, anti-corrosive
works, water-proofing works for refineries, plants, building constructions,
electric powers, other.
The sales volume for Jan/2012 fiscal term amounted to Yen 27,894
million, a 3% down from Yen 28,639 million in the previous term. The recurring profit was posted at Yen 1,119
million and the net profit at Yen 300 million, respectively, compared with Yen
1,232 million recurring profit and Yen 365 million net profit, respectively, a
year ago.
For the term that ended Jan 2013 the recurring profit was posted at Yen
1,267 million and the net profit at Yen 260 million, on a 13% rise in turnover,
to Yen 31,598 million. The figures are
all confirmed resulted. No further
details are yet to be disclosed.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar
1953
Regd No.:
2400-01-011264
(Yamaguchi-Iwakuni)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 2
million shares
Issued:
500,200 shares
Sum: Yen 250.1 million
Major shareholders (%):
Suisei Club (52), Sun Oak (20), Shinji Kashiwabara (18)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Painting works,
anti-corrosive works, water-proofing works (--98%), iron works, mfg of beds,
others (--2%)
Clients: [Mfrs,
wholesalers] JGC Corp, Idemitsu Kosan, Kansai Electric Power, Zenkanren (NPO of
Apartment Bloc Administration), Shinko Plantech, Chiyoda Kosho Co, JX Nippon
Energy & Mining Corp, Asahi Kasei Chemical, IHI Plant Construction, Chugoku
Electric Power, Kashima Oil, Kyokuto Petroleum Ind, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Dainikka Co, Dai Nippon Painting, Rock Paint, Nippon Paints, Kansai Paint,
Tososhio Co, Nikkei Liner, other
Payment record: No Complaints
Location: Business area in
Iwakuni, Yamaguchi-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
Yamaguchi Bank (Iwakuni)
Hiroshima Bank (Iwakuni)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
|
|
Annual
Sales |
|
31,598 |
27,894 |
28,639 |
30,708 |
|
Recur.
Profit |
|
1,267 |
1,119 |
1,232 |
1,492 |
|
Net
Profit |
|
260 |
300 |
365 |
535 |
|
Total
Assets |
|
|
19,801 |
18,726 |
19,418 |
|
Current
Assets |
|
|
11,885 |
10,724 |
|
|
Current
Liabs |
|
|
10,037 |
8,764 |
|
|
Net
Worth |
|
|
8,040 |
7,739 |
7,374 |
|
Capital,
Paid-Up |
|
|
250 |
250 |
250 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
4.70 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
13.28 |
-2.60 |
-6.74 |
-8.10 |
|
|
Current Ratio |
|
.. |
118.41 |
122.36 |
.. |
|
N.Worth Ratio |
.. |
40.60 |
41.33 |
37.98 |
|
|
R.Profit/Sales |
|
4.01 |
4.01 |
4.30 |
4.86 |
|
N.Profit/Sales |
0.82 |
1.08 |
1.27 |
1.74 |
|
|
Return On Equity |
.. |
3.73 |
4.72 |
7.26 |
|
Notes:
Resulted figures for the 31/01/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.68 |
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.