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Report Date : |
28.12.2013 |
IDENTIFICATION DETAILS
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Name : |
NK INTERNATIONAL LTD |
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Registered Office : |
Lucky Bldg 3F, 4-4-12 Honmachi Chuoku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April, 2006 |
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Com. Reg. No.: |
(Osaka-Chuoku) 069044 |
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Legal Form : |
Private Limited Company (Yugen Kaisha) |
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Line of Business : |
Import, export, wholesale of textile machinery, refrigerators |
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No. of Employees : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 |
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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.
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Source
: CIA |
NK INTERNATIONAL
LTD
REGD NAME: YK NK Tsusho
MAIN OFFICE: Lucky Bldg 3F, 4-4-12 Honmachi Chuoku Osaka
541-0053 JAPAN
Tel:
06-6241-6510
Fax: 06-6241-0022
URL: N/A
Import, export, wholesale of textile machinery, refrigerators
Nil
KIYOSHI NAKAGAWA, PRES
In million Yen, unless otherwise stated
FINANCES WEAK A/SALES Yen 89 M
PAYMENTS SLOW CAPITAL Yen 5 M
TREND SLOW WORTH Yen (-) 3 M
STARTED 2006 EMPLOYES 1
TRADING FIRM SPECIALIZING IN TEXTILE MACHINERY.
FINANCIAL SITUATION CONSIDERED WEAK BUT SHOULD BE GOOD FOR MODERATE
BUSINESS ENGAGEMENTS.
NEGATIVE NET WORTH.
The subject company was established by Kiyoshi Nakagawa originally in
1987, on his account, and was incorporated in 2006. This is a one-man operated trading firm for
import, export and wholesale of textile machinery & accessories,
business-use refrigerators, other. Goods
are exported to Taiwan, Bangladesh, Thailand, Pakistan, Korea, China, other.
Financial are only partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 89 million, a
17% down from Yen 107 million in the previous term. Exports were hurt by the high Yen, reducing
revenues and profits in Yen terms. The
operations continued in the red to post Yen 1 million net losses, compared with
Yen 2 million net losses a year ago.
Loss amount decreased.
For the current term ending Mar 2013 the operations are projected to
come back to profitability to post Yen 1 million net profit, on a 7% rise in
turnover, to Yen 95 million.
The financial situation is considered WEAK but should be good for
MODERATE business engagements. . Negative net worth.
Date Registered: Apr
2006
Regd No.: (Osaka-Chuoku)
069044
Legal Status: Private Limited Company (Yugen Kaisha)
Regd Capital: Yen 5 million
Major shareholders
(%): Kiyoshi Nakagawa (100)
Nothing detrimental is known as to his commercial morality.
Activities: Imports, exports
and wholesales textile machines & accessories (--50%), business-use
refrigerators, cooling boxes, others (--50%).
Clients: [Mfrs,
wholesalers] Exports to Taiwan, Bangladesh, Thailand, Pakistan, Korea, China,
other. (--50%)
Fukushima Industries Corp (50%)
Domestically: Fukushima Ind Corp, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Kureha Elastomers Co, Kanhatsu Kogyo Co, Seiren Electronics Co,
Toyo Machinery Co, Tsujii Dyeing Machine Ind, Texam Giken Co, other.
Imports from Thailand (50%), other
Payment record: Slow
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Shinanobashi)
Mizuho Bank
(Semba)
Relations:
Satisfactory
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Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual Sales |
|
95 |
89 |
107 |
115 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
1 |
-1 |
-2 |
1 |
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Total Assets |
|
|
35 |
N/A |
37 |
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Net Worth |
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|
-3 |
-2 |
-1 |
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Capital, Paid-Up |
|
|
5 |
5 |
5 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.74 |
-16.82 |
-6.96 |
-99.96 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.05 |
-1.12 |
-1.87 |
0.87 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.06 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
<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.