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Report Date : |
04.12.2013 |
IDENTIFICATION DETAILS
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Name : |
KOKUYO S&T CO LTD |
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Registered Office : |
6-1-1 O-imazato-Minami Higashinariku Osaka
537-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
October 2004 |
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Com. Reg. No.: |
1200-01-108827
(Osaka-Higashinariku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of paper products (notebooks, files, albums, bills),
stationery (writing implement, metal stationery), PC-related goods (Ink-jet
printer copy papers, mouse, PC bags) |
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|
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No. of Employees : |
534 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
TATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 |
KOKUYO S&T CO LTD
Kokuyo S&T KK
6-1-1
O-imazato-Minami Higashinariku Osaka 537-0013 JAPAN
Tel:
06-6976-1261 Fax: 06-6973-9225
URL: http://www.kokuyo-st.co.jp
E-Mail address: (thru the URL)
Mfg of
stationery
Tokyo,
Shiga, Tottori
Thailand,
Vietnam
Shiga
TAKUYA
MORIKAWA, PRES Mitsuhiro Okamoto, v
pres
Yukihiro
Furumoto, s/mgn dir Yasushi Inoue,
s/mgn dir
Tsutomu
Sumitani, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 64,665 M
PAYMENTS REGULAR CAPITAL Yen 3,000 M
TREND SLOW WORTH Yen
25,553 M
STARTED 2004 EMPLOYES 534
MFR OF STATIONERY, OWNED BY KOKUYO CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a stationery mfg
division separated from Kokuyo Co Ltd (See REGISTRATION). The firm specializes in mfg stationery and
office/school supplies (See OPERATION). Goods are wholesaled and retailed. Clients are Kokuyo Co Group firms and
consumers.
The sales volume for Dec/2012 fiscal term amounted to Yen 64,665
million, a 1% down from Yen 65,346 million in the previous term. The recurring profit was posted at Yen 5,935
million and the net profit at Yen 3,553 million, respectively, compared with
Yen 5,457 million recurring profit and yen 2,399 million net losses,
respectively, a year ago.
For the current term ending Dec 2013 the recurring profit is projected
at Yen 6,000 million and the net profit at Yen 3,700 million, respectively, on
a 2% rise in turnover, to Yen 66,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct
2004
Regd No.: 1200-01-108827 (Osaka-Higashinariku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 3,000 million
Major shareholders (%): Kokuyo Co Ltd* (100)
*.. Kokuyo Co Ltd,
top-ranked mfr of office supplies, at the caption address, listed Tokyo S/E,
capital Yen 15,847 million, sales Yen 275,821 million, operating profit Yen
4,852 million, recurring profit Yen 6,142 million, net profit Yen 2,428
million, total assets Yen 269,048 million, net worth Yen 160,045 million,
employees 6,497, pres Akihiro Kuroda
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
paper products (notebooks, files, albums, bills, other), stationery (writing
implement, metal stationery), PC-related goods (Ink-jet printer copy papers,
mouse, PC bags), other (--100%)
Clients: [Mfrs,
wholesalers] Kokuyo Marketing, Kokuyo Hokkaido Hambai, Kokuyo Tohoku Hambai,
Kokuyo Kitakanto Hambai, Kokuyo Niigata Hambai, consumers, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kokuyo MVP, Kokuyo Products Shiga Co, Iwami Kamikougyou Co, Kokuyo
IK Thailand, Nikkan Co, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are owned by the parent, Kokuyo Co Ltd, and maintained satisfactorily.
Bank
References:
SMBC (Osaka)
MUFG (Osaka-Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual
Sales |
|
66,000 |
64,665 |
65,346 |
67,848 |
|
Recur.
Profit |
|
6,000 |
5,935 |
5,457 |
5,567 |
|
Net
Profit |
|
3,700 |
3,553 |
-2,399 |
3,282 |
|
Total
Assets |
|
|
51,512 |
48,117 |
46,837 |
|
Current
Assets |
|
|
30,769 |
31,577 |
38,427 |
|
Current
Liabs |
|
|
23,904 |
22,322 |
17,308 |
|
Net
Worth |
|
|
25,553 |
23,682 |
27,641 |
|
Capital,
Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.06 |
-1.04 |
-3.69 |
-9.97 |
|
|
Current Ratio |
|
.. |
128.72 |
141.46 |
222.02 |
|
N.Worth Ratio |
.. |
49.61 |
49.22 |
59.02 |
|
|
R.Profit/Sales |
|
9.09 |
9.18 |
8.35 |
8.21 |
|
N.Profit/Sales |
5.61 |
5.49 |
-3.67 |
4.84 |
|
|
Return On Equity |
.. |
13.90 |
-10.13 |
11.87 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
UK Pound |
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.46 |
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 |
|
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 |
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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 |
|
<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.