|
Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
KYORAKU SANGYO CO LIMITED |
|
|
|
|
Registered Office : |
185 Nakasunacho Tempakuku Nagoya 468-0065 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
July 1961 |
|
|
|
|
Com. Reg. No.: |
1800-01-019908 (Nagoya-Kitaku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer of pinball
playing machines, game software. |
|
|
|
|
No. of Employees : |
300 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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
KYORAKU SANGYO CO LTD
REGD NAME: Kyoraku
Sangyo KK
MAIN OFFICE: 185
Nakasunacho Tempakuku Nagoya 468-0065 JAPAN
Tel:
052-835-2211 Fax: 052-835-4411
*..
Registered at: 3-24-4 Nishiki Nakaku Nagoya
E-Mail
address: (thru the URL)
Manufacturer
of pinball playing machines, game software
Tokyo,
other (Tot 18)
At the
caption address
YOSHINORI
ENOMOTO, PRES Hiroshi
Enomoto, ch
Michiyuki
Yamada, s/mgn dir Seiji
Takada, mgn dir
Kunio
Kawamura, mgn dir Kanji Shamoto, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 190,823 M
PAYMENTS REGULAR CAPITAL Yen 45 M
TREND UP WORTH Yen 106,266 M
STARTED 1961 EMPLOYES 300
MFR OF PINBALL PALYING MACHINES.
FINANCIAL SITUATION CONSIDERED
FAIRTO GOOD AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established originally in 1952 by Hiroshi Enomoto, on his account,
in order to make most of his experience in the subject line of business. Incorporated in 1961. Yoshinori is his son, who took the pres
office in Aug 2006. This is a leading
mfr of pinball playing machines in Japan.
Goods are shipped to pinball halls nationwide.
The
sales volume for Jun/2012 fiscal term amounted to Yen 190,823 million, a 60% up
from Yen 119,006 million in the previous term.
A new model was introduced and produced, which was substantially
sold. The recurring profit was posted at
Yen 50,562 million and the net profit at Yen 29,095 million, respectively,
compared with Yen 25,907 million recurring profit and Yen 14,414 million net
profit, respectively, a year ago.
For the term that ended Jun 2013 the recurring profit was
projected at Yen 51,000 million and the net profit at Yen 30,000 million,
respectively, on a 3% rise in turnover, to Yen 196,550 million. Final results are yet to be released.
The financial situation is considered FAIR to GOOD and
responsible for ORDINARY business engagements.
Date Registered: Jul
1961
Regd No.: 1800-01-019908
(Nagoya-Kitaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 360,000 shares
Issued:
90,000 shares
Sum: Yen
45 million
Major shareholders (%): OK Co* (30), Yamaguchi Daizo Shoten (14), Itoh Akio Shoten
(11), other *.. Group firm
No. of shareholders: 11
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures pinball playing
machines, their software, others (--100%)
Clients: [Mfrs,
wholesalers] Pinball shop operators, halls, other, nationwide
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nikko Denki, Nippon
Pachinko Parts (Pachinko means pinball), Toyo Kasei Kogyo, Adachi Light Ind,
other
Payment record: Regular
Location: Business area in Nagoya. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References: Resona Bank (Akamondori)
Mizuho Bank
(Nagoya-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
|
Annual
Sales |
|
196,550 |
190,823 |
119,006 |
158,332 |
|
Recur.
Profit |
|
51,000 |
50,562 |
25,907 |
|
|
Net
Profit |
|
30,000 |
29,095 |
14,414 |
15,517 |
|
Total
Assets |
|
|
187,895 |
155,247 |
166,462 |
|
Current
Assets |
|
|
128,436 |
96,690 |
112,732 |
|
Current
Liabs |
|
|
72,519 |
63,830 |
68,353 |
|
Net
Worth |
|
|
106,266 |
77,707 |
83,809 |
|
Capital,
Paid-Up |
|
|
45 |
45 |
45 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.00 |
60.35 |
-24.84 |
23.93 |
|
|
Current Ratio |
|
.. |
177.11 |
151.48 |
164.93 |
|
N.Worth Ratio |
.. |
56.56 |
50.05 |
50.35 |
|
|
R.Profit/Sales |
|
25.95 |
26.50 |
21.77 |
.. |
|
N.Profit/Sales |
15.26 |
15.25 |
12.11 |
9.80 |
|
|
Return On Equity |
.. |
27.38 |
18.55 |
18.51 |
|
Notes:
Forecast (or estimated) figures for the 30/06/2013 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.