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Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
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Name : |
FUNAKOSHI CO LTD |
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Registered Office : |
2-9-7 Hongo Bunkyoku Tokyo 113-0033 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
August 1990 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter, wholesaler
of reagents & medical equipment |
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No. of Employees : |
122 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 223.5 Million |
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Status : |
Satisfactory |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 |
FUNAKOSHI CO LTD
Funakoshi KK
2-9-7 Hongo
Bunkyoku Tokyo 113-0033 JAPAN
Tel:
03-5684-1611 Fax: 03-5684-1614
URL: http://www.funakoshi.co.jp
E-Mail address: info@funakoshi.co.jp
Import,
export, wholesale of reagents, medical equipment
Shinagawa (warehouse)
RYOYA
FUNAKOSHI, PRES Satoshi Ito, mgn dir
Yuji
Suzuki, dir Akihito
Nishinomiya, dir
Masae
Funakoshi, dir Ryota
Funakoshi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 7,303 M
PAYMENTSNo Complaints
CAPITAL Yen 99 M
TREND UP WORTH Yen 3,949 M
STARTED 1990 EMPLOYES 122
TRADING FIRM SPECIALIZING IN REAGENTS & MEDICAL
EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 223.5 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Ryoya Funakoshi 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 reagents, medical equipment & supplies. Clients include chemical makers, wholesalers, other
Financials are only partially disclosed.
The sales volume for Sept/2012 fiscal term amounted to Yen 7,303 million, a 4% up from Yen 7,016 million in the previous term. The net profit was posted at Yen 603 million, compare with Yen 609 million a year ago.
For the term that ended Sept 2013 the net profit was projected at Yen 610 million, on a 5% rise in turnover, to Yen 7,670 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 223.5 million, on 30 days normal terms.
Date Registered: Aug 1990
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
7,920 shares
Issued:
1,980 shares
Sum: Yen 99 million
Major shareholders (%): Ryoya
Funakoshi (52), Company’s Treasury Stock (10)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales reagents, medical equipment & supplies, others (--100%)
Clients: [Mfrs, wholesalers] Iwai Chemical Co, Katayama Chemical, Nacalai Tesque Co, Organo Corp, Fuji Chemicals, Yashima Chemical, Hiroshima Wako Co, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Vector Laboratory, Front Runner, Asanuma & Co, Ono Pharmaceutical Co, Kurabo Ind, other
Imports from Australia, Germany, other Europe, USA, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Kasugacho)
Resona Bank (Kudan)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
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Annual
Sales |
|
7,670 |
7,303 |
7,016 |
7,098 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
610 |
603 |
609 |
535 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
3,949 |
3,527 |
3,100 |
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Capital,
Paid-Up |
|
|
99 |
99 |
99 |
|
Div.Ttl
Million Yen |
|
|
19.2 |
18.8 |
19.8 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
5.03 |
4.09 |
-1.16 |
5.72 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
7.95 |
8.26 |
8.68 |
7.54 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
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UK Pound |
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.