|
Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
KANTO CO LIMITED |
|
|
|
|
Registered Office : |
KST Daiichi Bldg, 4-8-10 Hatchobori Chuoku Tokyo 104-0032 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.04.2012 |
|
|
|
|
Date of Incorporation : |
May 1957 |
|
|
|
|
Com. Reg. No.: |
0100-01-039942 (Tokyo-Chuoku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, export, wholesale of oil hydraulic
equipment, pneumatic equipment, oil seals, filters. |
|
|
|
|
No. of Employees : |
174 |
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 |
|
Maximum Credit Limits : |
Yen 676.6 Million |
|
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
KANTO CO LTD
REGD NAME: KK
Kanto
MAIN OFFICE: KST
Daiichi Bldg, 4-8-10 Hatchobori Chuoku Tokyo 104-0032 JAPAN
Tel:
03-3553-2355 Fax: 03-3553-2356
*.. The is
its Nagoya Branch Office (one of 11 Branch Offices)
E-Mail address: honsha-03@knto.co.jp
Import, export, wholesale of oil hydraulic
equipment, pneumatic equipment, oil seals, filters, other
Yokohama, Osaka,
Saitama, Nagoya, Atsugi, Kashiwa, Komaki, other (Tot 11)
China
SHO TOHDA, PRES Akira Tohda, s/mgn dir
Masao Asama, mgn
dir Osamu Miura, dir
Kazuhiko Koyama, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 15,106 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
60 M
TREND SLOW WORTH Yen
5,873 M
STARTED 1957 EMPLOYES 174
TRADING FIRM SPECIALIZING IN INDUSTRIAL EQUIPMENT. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 676.6 MILLION, 30 DAYS NORMAL TERMS
The subject
company was established by father of Sho Tohda in order to make most of his
experience in the subject line of business.
This is a trading firm for import, export and wholesale of industrial
equipment: pneumatic equipment, oil hydraulic equipment, oil seals, filters,
automatic equipment, other (See OPERATION). Clients include major industrial equipment
makers, electric makers, other.
The sales volume
for Apr/2012 fiscal term amounted to Yen 15,106 million, a 4% down from Yen
15,787 million in the previous term. The
recurring profit was posted at Yen 847 million and the net profit at Yen 479
million, respectively, compared with Yen 799 million recurring profit and Yen
437 million net profit, respectively, a year ago.
For the term that
ended Apr 2013 the recurring profit was projected at Yen 870 million and the
net profit at Yen 490 million, respectively, on a 3% rise in turnover, to Yen
15,600 million. Final results are yet to
be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 676.6
million, on 30 days normal terms.
Date Registered: May 1957
Regd No.:
0100-01-039942
(Tokyo-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 480,000
shares
Issued: 120,000
shares
Sum: Yen
60 million
Major
shareholders (%): Employees’ S/Holding
Assn (32), Sho Tohda (15), other
No. of shareholders: 12
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports,
exports and wholesales oil hydraulic equipment (pumps, valves, motors, unit
equipment, other), pneumatic equipment, oil seals (of
metals), filters (of glass fiber make), other industrial equipment (--100%)
Clients: [Mfrs, wholesalers] Yamazaki Mazak
Corp, Amada Co, Tsugami Corp, Asahi Glass, Hitachi Via Mechanics, Tatsuno Co,
Mitsubishi Electric, LIXIL, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] SMC (50%), NOK, Eagle
Ind, Daikin Ind, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References: MUFG (Shintomicho)
Mizuho Bank
(Kyobashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/04/2013 |
30/04/2012 |
30/04/2011 |
30/04/2010 |
|
|
Annual
Sales |
|
15,600 |
15,106 |
15,787 |
10,125 |
|
Recur.
Profit |
|
870 |
847 |
799 |
|
|
Net
Profit |
|
490 |
479 |
437 |
112 |
|
Total
Assets |
|
|
9,702 |
8,672 |
7,362 |
|
Current
Assets |
|
|
7,413 |
7,457 |
|
|
Current
Liabs |
|
|
2,829 |
3,252 |
|
|
Net
Worth |
|
|
5,873 |
5,414 |
4,987 |
|
Capital,
Paid-Up |
|
|
60 |
60 |
60 |
|
Div.Ttl
Million (¥) |
|
|
21.6 |
10.8 |
10.8 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.27 |
-4.31 |
55.92 |
-27.84 |
|
|
Current Ratio |
|
.. |
262.04 |
229.31 |
.. |
|
N.Worth Ratio |
.. |
60.53 |
62.43 |
67.74 |
|
|
R.Profit/Sales |
|
5.58 |
5.61 |
5.06 |
.. |
|
N.Profit/Sales |
3.14 |
3.17 |
2.77 |
1.11 |
|
|
Return On Equity |
.. |
8.16 |
8.07 |
2.25 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 30/04/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.52 |
|
|
1 |
Rs. 94.99 |
|
Euro |
1 |
Rs. 81.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.