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Report Date : |
23.02.2013 |
IDENTIFICATION DETAILS
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Name : |
JUNKOSHA INC |
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Registered Office : |
961-20 Fukuda Kasama City Ibaraki-Pref 309-1603 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April 1954 |
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Com. Reg. No.: |
0500-01-037996 (Ibaraki-Kasama) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of fluorocarbon polymer & products (electric wires, cables) |
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No. of Employees : |
311 |
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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Maximum Credit Limit: |
Yen 315.0 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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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 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
JUNKOSHA INC
REGD NAME: KK
Junkosha
MAIN OFFICE: 961-20
Fukuda Kasama City Ibaraki-Pref 309-1603 JAPAN
Tel:
0296-70-2000 Fax: 0296-70-2035
URL: http//:www.junkosha.co.jp
E-mail: info@junkosha.co.jp
Mfg of
fluorocarbon polymer & products (electric wires, cables)
Tokyo, Yamanashi
(Customer Service Center)
China (2)
Fuefuki
(Yamanashi)
MAMORU SOGO, PRES
Ichiro Nagai, dir
Nobuo Tsuchiuchi,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 10,604 M
PAYMENTS REGULAR CAPITAL Yen 207 M
TREND SLOW WORTH Yen
9,284 M
STARTED 1954 EMPLOYES 311
MFR OF POLYMER
& PRODUCTS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT:
YEN 315.0 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established by father of Mamoru Sogo in order to make most of his experience in
the subject line of business. Started
mfg polymer and gradually developed high-polymer, such as fluorocarbon polymer
and products. (See OPERATION for products). The
product application is expanded to encompass semiconductor,
IT/info-communication, aerospace, root/FA, auto/transport, medical, and
factory/plant industries, ranging from electronics to various other
industries. Goods are exported. Clients include electronic makers, heavy
machinery makers, other
The sales volume
for Mar/2012 fiscal term amounted to Yen 10,604 million, a 24% down from Yen
14,029 million in the previous term.
Exports were hurt by the high Yen, reducing revenues and profits in Yen
terms. The net profit was posted at Yen
187 million, compared with Yen 782 million a year ago. .
For the current
term ending Mar 2013 the net profit is projected at Yen 190 million, on a 2%
rise in turnover to Yen 10,800 million.
The financial situation
is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 315.0
million, on 30 days normal terms.
Date Registered: Apr 1954
Regd No.: 0500-01-037996 (Ibaraki-Kasama)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.6 million shares
Issued: 414,000 shares
Sum: Yen 207 million
Major shareholders (%): Tokyo Medium
& Small Enterprise Promotion & Investment (35), Executives’ S/Holding
Assn (26), Employees’ S/Holding Assn (13)
No. of shareholders: 92
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufacture
fluorocarbon polymer and products (FEP tubes, FEP wire cables, PTFE &
polymer flat cable (70%), fluorocarbon optical fiber, hyper-tube, other), other
(--30%)
Clients: [Mfrs,
wholesalers] Fujitsu Ltd, Hitachi Ltd, IBM Japan, NEC, Mitsubishi Electric,
Mitsubishi Heavy Ind, Toshiba Corp, NEC Corp, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] DuPont-Mitsui Flurochemical, Asahi Glass, Daikin Ind, Toray Ind,
Mitsui & Co, Somar Corp, other
Payment record: Regular
Location: Business area in
Kasama, Ibaraki-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
Resona Bank
(Shibuya)
MUFG
(Shibuya-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
10,800 |
10,604 |
14,029 |
8,484 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
190 |
187 |
782 |
612 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
9,284 |
9,154 |
8,607 |
|
Capital,
Paid-Up |
|
|
207 |
207 |
207 |
|
Div.Ttl
Million (¥) |
|
|
51.8 |
72.5 |
51.8 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
1.85 |
-24.41 |
65.36 |
-21.87 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
|
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N.Profit/Sales |
1.76 |
1.76 |
5.57 |
7.21 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.43 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
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 |
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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 |
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<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.