|
Report Date : |
29.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
KIMURA KNIFE & SAW MFG CO LTD |
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|
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Registered Office : |
15-13 Shioiricho Mizuhoku Nagoya 467-0851 |
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Country : |
Japan |
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|
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
March 1941 |
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Com. Reg. No.: |
(Nagoya-Mizuhoku) 010035 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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|
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Line of Business : |
Manufacturer of wood cutting knife, paper cutting knife |
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|
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No. of Employees : |
53 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – 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
KIMURA KNIFE & SAW MFG CO LTD
REGD NAME: Kimura
Hamono Seizo KK (Hamono means cutlery)
MAIN OFFICE: 15-13
Shioiricho Mizuhoku Nagoya 467-0851 JAPAN
Tel:
052-811-3165 Fax: 052-811-2170
*.. The is its
International Department at: 1-18-11 Minamicho
Koshigaya
Saitama-Pref; Phone: 048-989-5591; Fax: 048-989-5596
URL: http://www.kimura-knife.co.jp/
E-Mail address: international@kimura-knife.co.jp
Mfr of wood
cutting knife, paper cutting knife
Koshigaya (as
given), Osaka, Sendai; Dalian (China)
At the caption
address; Xinghai Machine Knife & Saw Co Ltd (China)
FUMIAKI ITOH, PRES
Sadahiro
Hayashida, dir
Tohru Hiroi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 2,695 M
PAYMENTSREGULAR CAPITAL Yen
114 M
TREND SLOW WORTH Yen 132 M
STARTED 1941 EMPLOYES 53
MFR SPECILIZING IN WOOD CUTTING KNIFE
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSIENSS ENGAGEMENTS.
The subject company
was established originally in 1911 for mfg cutting knife and has been succeeded
by the present executives. This is a
specialized mfr of wood cutting knives, paper cutting knives, lawn cutting
knives, other. Has mfg plant in
China. Goods are imported.
The sales volume for
Feb/2013 fiscal term amounted to Yen 2,695 million, a 1% down from Yen 2,716
million in the previous term. The
recurring profit was posted at Yen 88 million and the net profit at Yen 10 million,
respectively, compared with Yen 92 million recurring profit and Yen 1 million
net profit, respectively, a year ago.
For the current
term ending Feb 2014 the recurring profit is projected at Yen 90 million and
the net profit at Yen 15 million, respectively, on a 4% rise in turnover, to
Yen 2,800 million. Business is seen
steadily expanding.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered:
Mar 1941
Regd No.:
(Nagoya-Mizuhoku) 010035
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 917,600 shares
Issued: 229,400 shares
Sum: Yen 114.7 million
Major shareholders (%): Mitsuko Kimura
(10), Fumiaki Ito (5), mask Kimura (3), Yumi Kimura (3), other
No. of shareholders: 55
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures wood
working knife, paper cutting knife, lawn cutting knife, other (--100%).
(Mfg
Items): Veneer rotary lathe knife, clipper knife, pressure bar (nose bar), knife
pad, spur knife, other.
Clients: [Mfrs,
wholesalers] Alliance Knife, Takasaki Precision & Machinery Mfg, Methocel,
Kyoeisha, FAM, Kimura China, Cane Field, other.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hard Metal, Matsuoka Cutlery, other
Imports from China, other
Payment record: Regular
Location: Business area in
Nagoya. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Juroku Bank
(Rokubancho)
SMBC (Nagoya)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
|
|
Annual
Sales |
|
2,800 |
2,695 |
2,716 |
2,500 |
|
Recur.
Profit |
|
90 |
88 |
92 |
57 |
|
Net
Profit |
|
15 |
10 |
1 |
2 |
|
Total
Assets |
|
|
2,858 |
2,763 |
2,605 |
|
Current
Assets |
|
|
1,526 |
1,537 |
1,484 |
|
Current
Liabs |
|
|
1,438 |
1,394 |
1,374 |
|
Net
Worth |
|
|
132 |
121 |
120 |
|
Capital,
Paid-Up |
|
|
114 |
114 |
114 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.90 |
-0.77 |
8.64 |
16.99 |
|
|
Current Ratio |
|
.. |
106.12 |
110.26 |
108.01 |
|
N.Worth Ratio |
.. |
4.62 |
4.38 |
4.61 |
|
|
R.Profit/Sales |
|
3.21 |
3.27 |
3.39 |
2.28 |
|
N.Profit/Sales |
0.54 |
0.37 |
0.04 |
0.08 |
|
|
Return On Equity |
.. |
7.58 |
0.83 |
1.67 |
|
Notes: Forecast
(or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.68.36 |
|
|
1 |
Rs.106.03 |
|
Euro |
1 |
Rs.91.47 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.