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Report Date : |
05.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
IKK CO LTD |
|
|
|
|
Registered Office : |
396-59 Ashitaka Numazu City Shizuoka-Pref
410-0001 |
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|
|
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Country : |
Japan |
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|
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Financials (as on) : |
31.03.2013 |
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|
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Date of Incorporation : |
November 1959 |
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|
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Com. Reg. No.: |
0801-01-000159
(Shizuoka-Numazu) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of construction machinery such as wire rod
cutter, wire rod bender, wire rod bender cutter, wire rod working tools,
hydraulic puncher, core drill, earth working machine & rock drill |
|
|
|
|
No. of Employees : |
54 |
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 |
|
Maximum Credit Limit : |
Yen 77.2 Million |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
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Litigation : |
-- |
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 |
|
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 |
IKK CO LTD
KK I.K.K.
396-59 Ashitaka
Numazu City Shizuoka-Pref 410-0001 JAPAN
Tel:
055-922-8811 Fax: 055-922-2880
URL: www.diamond-ikk.com
E-Mail address: information@diamond-ikk.com
Mfg of
construction machinery
Tokyo,
Sapporo, Sendai, Yokohama, Nagoya, Kanazawa, Osaka, Hiroshima, Fukuoka
At the
caption address
YORIO
IRISAWA, PRES Takeshi Iriya, v
pres
Masato
Matsui, dir Shizuo
Satoh, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,577 M
PAYMENTS No
Complaints CAPITAL Yen 90
M
TREND UP WORTH Yen 2,087 M
STARTED 1959 EMPLOYES 54
MFR OF CONSTRUCTION MACHINERY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 77.2 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by father of Yorio Irisawa in order
to make most of his experience in the subject line of business. Yorio took the pres office in Jun 2005. This is a specialized mfr of construction
machinery: wire rod cutter, wire rod bender, core drill, rock drill,
other. Noted for “Diamond Rock Drill”
brand name. Clients include major
construction machinery makers, construction companies, other
The sales volume for Mar/2013 fiscal term amounted to Yen 1,577 million,
a 17% up from Yen 1,354 million in the previous term. The construction industry recovered and
orders/demand were brisk. The net profit
was posted at Yen 56 million, compared with Yen 28 million a year ago.
For the current term ending Mar 2014 the net profit is p0rojected at Yen
60 million, on a 5% rise in turnover, to Yen 1,650 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 77.2 million, on 30 days normal terms.
Date Registered: Nov 1959
Regd No.: 0801-01-000159 (Shizuoka-Numazu)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
725,832 shares
Issued:
181,458 shares
Sum: Yen 90.729 million
Major shareholders (%): Sanko Techno Co Ltd* (80)
No. of shareholders: 7
*.. Largest mfr of special screws used in fixing equipment on concrete base,
Chiba, listed JASDAQ, Capital Yen 768 million, sales Yen 15,122 million,
operating profit Yen 867 million, recurring profit Yen 840 million, net profit
Yen 443 million, total assets Yen 14,008 million, net worth Yen 7,292 million,
employees 563, pres Hideto Horage
Nothing detrimental is known as to the commercial morality of
executives.
Activities:
Manufactures construction machinery: wire rod cutter, wire rod bender, wire rod
bender cutter, wire rod working tools, hydraulic puncher, core drill, earth
working machine, rock drill, other (--100%)
Clients: [Mfrs,
wholesalers] Sanko Techno Co, Hitachi Koki Co, Ryobi Limited, Wakita Corp,
Matsumoto Sangyo Corp, Trusco Nakayama Corp, other
No. of accounts: 350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ondo Metal Co, Kyoei Kiden Co, Hitachi Koki Co, Sanyo Machine
Corp, other
Payment record: No Complaints
Location: Business area in
Numazu, Shizuoka-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Shizuoka
Bank (Numazu-Eki-Kita)
MUFG
(Numazu)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
1,650 |
1,577 |
1,354 |
1,268 |
|
Recur.
Profit |
|
|
|
63 |
41 |
|
Net
Profit |
|
60 |
56 |
28 |
41 |
|
Total
Assets |
|
|
2,602 |
2,523 |
2,602 |
|
Current
Assets |
|
|
1,836 |
1,731 |
1,777 |
|
Current
Liabs |
|
|
362 |
330 |
386 |
|
Net
Worth |
|
|
2,087 |
2,042 |
2,051 |
|
Capital,
Paid-Up |
|
|
90 |
90 |
90 |
|
Div
Ttl In Million (\) |
|
0.00 |
21.00 |
21.00 |
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.63 |
16.47 |
6.78 |
5.40 |
|
|
Current Ratio |
|
.. |
507.18 |
524.55 |
460.36 |
|
N.Worth Ratio |
.. |
80.21 |
80.94 |
78.82 |
|
|
R.Profit/Sales |
|
.. |
.. |
4.65 |
3.23 |
|
N.Profit/Sales |
3.64 |
3.55 |
2.07 |
3.23 |
|
|
Return On Equity |
.. |
2.68 |
1.37 |
2.00 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
UK Pound |
1 |
Rs.102.18 |
|
Euro |
1 |
Rs.84.68 |
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.