|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOSMEK LTD |
|
|
|
|
Registered Office : |
2-1-2 Murotani Nishiku Kobe 651-2241 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
May 1986 |
|
|
|
|
Com. Reg. No.: |
1400-01-004725 (Kobe-Nishiku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer of precision instruments, hydraulic & pneumatic equipment |
|
|
|
|
No. of Employees : |
135 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit: |
Yen 87.6 Million |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
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 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
KOSMEK LTD
REGD NAME: KK
Kosmek
MAIN OFFICE: 2-1-2
Murotani Nishiku Kobe 651-2241 JAPAN
Tel:
078-991-5115 Fax: 078-991-8787
E-Mail address: (thru
the URL)
Mfg of precision
instruments, hydraulic & pneumatic equipment
Anjo (Aichi),
Saitama, Fukuoka
KOSMEK (USA) Ltd
(USA); KOSMEK (China) Ltd (--subsidiaries)
Full Life Trading
Co Ltd (Taiwan), Global Enginery Technicians Inc (Philip
pines), Austria,
Thailand (--sole agents)
At the caption
address
TSUTOMU SHIRAKAWA,
PRES Keitaro Yonezawa, ch
Kimiharu Kimura,
dir Makoto
Uemura, dir
Takaharu Katsui,
dir Toshinao
Nishimoto, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 4,800 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 99 M
TREND UP WORTH Yen 948 M
STARTED 1986 EMPLOYES 135
MFR OF PRECISION INSTRUMENTS & HYDRAULIC EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 87.6 MILLION, 30 DAYS NORMAL TERMS.
The subject
company was established by Keitaro Yonezawa in order to make most of his
experience in the subject line of business.
Specializes in mfg precision instruments, hydraulic & pneumatic equipment,
other. In Sept 1989, opened USA office
(subsidiary). Opened an office in
Shanghai, China in Jul 2005. Active in
overseas operations having two sole agents in Taiwan and the Philippines. Clients are in the industries of automobiles,
industrial machinery, semiconductors & electric appliances, other. The firm holds total 335 industrial property
rights:105 domestic; 230 overseas (USA/EU/Korea/China/India/Taiwan). In Nov 2011, founded Kosmek (China) Ltd in
Shanghai, China, and the existing office was absorbed. Domestic clients include precision
instruments makers, engineering companies, other..
Financials are only
partially disclosed.
The sales volume for Mar/2012 fiscal term
amounted to Yen 4,800 million, a 17% up from Yen 4,113 million in the previous
term. Newly opened subsidiary in
Shanghai contributed to sales in the local market. Robust demand created from automobile and
other industries. . The net profit is believed posted at Yen 100
million, compared with Yen 85 million a year ago. The firm does not disclose the profits.
For the current
term ending Mar 2013 the net profit is projected at Yen 110 million, on a 4%
rise in turnover, to Yen 5,000 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 87.6
million, on 30 days normal terms.
Date Registered:
May 1986
Regd No.:
1400-01-004725 (Kobe-Nishiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3,200 shares
Issued: 1,980 shares
Sum: Yen 99 million
Major shareholders (%): Keitaro Yonezawa,
other (details not available)
No. of shareholders: 58
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
precision instruments, hydraulic & pneumatic equipment (--100%).
Products: Quick mold
change systems for injection molding machines, quick die change systems, KOSMEK
diecast clamping systems, KOSMEK work clamping systems; clamps, pumps/valves,
couplers, rotary joints, other.
Industrial
Property Rights: 105 domestic; 230 in USA/EU/Taiwan/Korea/China, including patents rights
& patent pending as of Mar/2011.
Clients: [Mfrs,
wholesalers] Mori Seiki Co, Toshiba Machinery, Aida Engineering, Idaka &
Co, Toyotsu Machinery, Komatsu NTC, other.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nishikawa Sangyo, Koyo Kogyosho, Hakuro Steel, Morimoto Mfg, Kosmek
Engineering (subsidiary), other.
Payment record: No Complaints
Location: Business area in
Kobe. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Resona Bank (Kobe)
MUFG (Kobe)
Relations:
Satisfactory
(In Million Yen)
|
|
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
5,000 |
4,800 |
4,113 |
2,118 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
110 |
100 |
85 |
70 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
948 |
878 |
819 |
|
Capital,
Paid-Up |
|
|
99 |
99 |
99 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.17 |
16.70 |
94.19 |
-46.92 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
2.20 |
2.08 |
2.07 |
3.31 |
|
Notes: Financials are only partially disclosed. Profits are not disclosed and estimated figures
only.
Forecast (or
estimated) figures for 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.