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Report Date : |
02.02.2013 |
IDENTIFICATION DETAILS
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Name : |
KOA GLASS CO LTD |
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Registered Office : |
1-25-27 Hirai Edogawaku Tokyo 132-0035 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
January, 1943 |
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Com. Reg. No.: |
0117-01-002774 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of glass containers
for cosmetics, pharmaceuticals, foods, other |
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No. of Employees : |
310 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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 |
KOA GLASS CO LTD
Koa Glass KK
1-25-27 Hirai
Edogawaku Tokyo 132-0035 JAPAN
Tel:
03-3684-1211 Fax: 03-3636-1195
URL: http://www.koaglass.co.jp/
E-Mail address: info@koaglass.co.jp
Mfg of glass
containers for cosmetics, pharmaceuticals, foods, other
Osaka
Ichikawa Shanghai
TATSUHIKO IDEI,
PRES
Yoshio Fukuda, dir
Isao Sano, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 8,201 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
72 M
TREND SLOW WORTH Yen 4,563 M
STARTED 1943 EMPLOYES 310
MFR SPECIALIZING IN GLASS CONTAINERS FOR COSMETICS, PHARMACEUTICALS,
ETC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by father of Tatsuhiko Idei in order
to make most of his experience in the subject line of business. This is a specialized mfr of glass containers
for cosmetics, pharmaceuticals, foods, etc.
Owns 4 subsidiary makers domestically and one in Shanghai. The shanghai factory was founded in 1994,
engaged in mfg, marketing, etc. Exports
to over 25 countries worldwide. Clients
are major cosmetics makers, pharmaceutical makers, food processors, other,
nationwide. 35% of the products are
shipped to Shiseido Co Ltd, nation’s top cosmetics maker.
The sales volume for Sept/2012 fiscal term amounted to Yen 8,201
million, a 5% down from Yen 8,654 million in the previous term. Exports were hurt by the high Yen, reducing
revenues in Yen terms. The operations
came back to profitability to post Yen 8 million recurring profit and Yen 7
million net profit, respectively, compared with Yen 977 million recurring loss
and Yen 211 million net losses, respectively, a year ago.
For the current term ending Sept 2013 the recurring profit is projected
at Yen 10 million and the net profit at Yen 10 million, respectively, on a 3%
rise in turnover, to Yen 8,450 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jan 1943
Regd No.:
0117-01-002774
(Tokyo-Edogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 5.76
million shares
Issued:
1.44 million shares
Sum: Yen
72 million
Major shareholders (%): Wako Seiki*(12.4), Tatsuhiko Idei
(7.4), Koa ACL*(4.3)
*.. Koa group mfrs
No. of shareholders: 37
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
glass containers for cosmetics, pharmaceuticals, foods, etc (--100%)
Goods are both imported and
exported.
Clients: [Cosmetics
makers, pharmaceutical makers, food processors] Shiseido (35%), Avon Products,
Nippon Menard Cosmetic, Max Factor, Takeda Chemical Ind, Sankyo Co, Meiji
Seika, Kyowa Hakko, Pfizer Japan, Pola Corp, other.
Exports to over 25 countries overseas.
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Koa ACL, Koa Container, Wako Seiki (--group firms), Hanwa Corp,
Sumitomo Shoji Chemicals, Konishiyasu Co, Matsuda Art Glass Co, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption address
are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Hirai)
SMBC (Kameido)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
Annual
Sales |
|
8,450 |
8,201 |
8,654 |
8,142 |
|
Recur.
Profit |
|
10 |
8 |
-977 |
|
|
Net
Profit |
|
10 |
7 |
-211 |
-524 |
|
Total
Assets |
|
|
9,902 |
9,323 |
9,104 |
|
Current
Assets |
|
|
5,406 |
5,017 |
|
|
Current
Liabs |
|
|
4,223 |
3,381 |
|
|
Net
Worth |
|
|
4,563 |
4,569 |
4,797 |
|
Capital,
Paid-Up |
|
|
72 |
72 |
72 |
|
Div.Ttl
in Million(¥) |
|
|
14 |
15 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.04 |
-5.23 |
6.29 |
-9.59 |
|
|
Current Ratio |
|
.. |
128.01 |
148.39 |
.. |
|
N.Worth Ratio |
.. |
46.08 |
49.01 |
52.69 |
|
|
R.Profit/Sales |
|
0.12 |
0.10 |
-11.29 |
.. |
|
N.Profit/Sales |
0.12 |
0.09 |
-2.44 |
-6.44 |
|
|
Return On Equity |
.. |
0.15 |
-4.62 |
-10.92 |
|
Notes: Forecast (or estimated) figures for
30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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.