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Report Date : |
11.07.2013 |
IDENTIFICATION DETAILS
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Name : |
KOKUSAI CABLE SHIP CO LTD |
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Registered Office : |
Shinagawa East Tower One 17F, 2-16-1 Konan Minatoku Tokyo 108-0075 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
March 1966 |
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Com. Reg. No.: |
0104-01-061736
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Installation & maintenance
of submarine cables |
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No. of Employees : |
55 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
Yen 328,859.6 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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 |
KOKUSAI CABLE SHIP CO LTD
Kokusai Cable Ship
KK
Shinagawa East
Tower One 17F, 2-16-1 Konan Minatoku Tokyo 108-0075 JAPAN
Tel:
03-6716-1188 Fax: 03-6716-1299
E-Mail address: sales.service@k-kcs.co.jp
Installation
& maintenance of submarine cables
Nil
RYOICHI
YATABE, PRES Haruo
Abe, mgn dir
Ujimasa
Kimoto, dir Akira
Ikeuchi, dir
Izumi
Okamoto, dir Keiji
Itoh, dir
Yen
Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 5,071,719 M
PAYMENTSREGULAR CAPITAL Yen
135 M
TREND SLOW WORTH Yen 3,516,012 M
STARTED 1966 EMPLOYES 55
INSTALLATION & MAINTENANCE OF SUBMARINE CABLES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 328,859.6 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by the then KDD (now KDDI - See REGISTRATION)
as an engineering company for installation & maintenance of submarine
cables. It operates two cable ships: KDD
Ocean Link & KDD pacific Link.
Operations are more centered in maintenance services. Clients include telephone companies, electric
companies, other.
The sales volume for Mar/2012 fiscal term amounted to Yen 5,071,719
million, a 5% down from Yen 5,310,097 million in the previous term. The recurring profit was posted at Yen
207,680 million and the net profit at Yen 130,289 million, respectively,
compared with Yen 565,164 million recurring profit and Yen 355,974 million net
profit, respectively, a year ago.
For the term that ended Mar 2013 the recurring profit was projected at
Yen 210,000 million and the net profit at Yen 131,000 million, respectively, on
a 3% rise in turnover, to Yen 5,220,000 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 328,859.6 million, on 30 days normal terms.
Date Registered: Mar
1966
Regd No.: 0104-01-061736 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.08 million shares
Issued: 270,000 shares
Sum: Yen 135 million
Major shareholders (%): KDDI Corp* (100)
*.. Comprehensive communications
provider, Tokyo, founded 1984 (originally KDD Corp and merged in Oct 2000 with
IDO), capital Yen 141,851 million, listed Tokyo S/E, sales Yen 3,662,288
million, operating profit Yen 512,669 million, recurring profit Yen 513,321
million, net profit Yen 241,469 million, total assets Yen 4,084,999 million,
net worth Yen 2,249,794 million, employees 20,238, pres Takashi Tanaka
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Installation
& maintenance services of submarine cables, oceanographic surveys &
research, transportation of submarine cables, operating two cable ships: KDD
ocean Link & KDD Pacific Link, other (--100%)
Clients: [Mfrs,
wholesalers] KDDI Corp, NEC Corp, China Telecom, AT&T, Kandenko, other
No. of accounts: 50
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui-OSK Lines, Tokyo Century Lease, SMD, Mitsubishi Heavy Ind,
Hayakawa Marine & Trans Corp, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
MUFG (Tokyo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
5,220,000 |
5,071,719 |
5,310,097 |
4,987,843 |
|
Recur.
Profit |
|
210,000 |
207,680 |
565,164 |
|
|
Net
Profit |
|
131,000 |
130,289 |
355,974 |
506,971 |
|
Total
Assets |
|
|
4,341,335 |
5,034,947 |
4,233,601 |
|
Current
Assets |
|
|
1,061,479 |
1,561,479 |
|
|
Current
Liabs |
|
|
482,629 |
1,181,805 |
|
|
Net
Worth |
|
|
3,516,012 |
3,385,722 |
3,029,748 |
|
Capital,
Paid-Up |
|
|
135 |
135 |
135 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.92 |
-4.49 |
6.46 |
-17.64 |
|
|
Current Ratio |
|
.. |
219.94 |
132.13 |
.. |
|
N.Worth Ratio |
.. |
80.99 |
67.24 |
71.56 |
|
|
R.Profit/Sales |
|
4.02 |
4.09 |
10.64 |
.. |
|
N.Profit/Sales |
2.51 |
2.57 |
6.70 |
10.16 |
|
|
Return On Equity |
.. |
3.71 |
10.51 |
16.73 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.13 |
|
UK Pound |
1 |
Rs.89.52 |
|
Euro |
1 |
Rs.76.89 |
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 |
|
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 |
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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.