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Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
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Name : |
NIHON KOSO CO LTD |
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Registered Office : |
Koso Nihombashi Bldg, 1-16-7 Nihombashi Chuoku Tokyo 103-0027 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2012 |
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Date of Incorporation : |
February 1977 |
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Com. Reg. No.: |
0100-01-062051 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of automatic control valves |
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No. of Employees : |
90 |
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 277.0 Million |
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Status : |
Satisfactory |
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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 |
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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.
Source
: CIA
NIHON KOSO CO LTD
REGD NAME: Nihon
Koso KK
MAIN OFFICE: Koso
Nihombashi Bldg, 1-16-7 Nihombashi Chuoku Tokyo 103-0027 JAPAN
Tel:
03-5202-4300 Fax: 03-5202-4301
*.. The given Tokyo Koso
Co Ltd is its subsidiary and Fukushima Factory
URL: http://www.koso.co.jp
E-Mail address: info@koso.co.jp
Mfg of automatic
control valves
Osaka, Nagoya, Tomakomai, Sendai, Fukushima,
Niigata, Kashima, Chiba, Toda, Hachioji, Fuji, Okayama, Iwakuni, Kitakyushu,
Oita, other (Tot 16)
USA (2), Korea,
China (3), Singapore, India (3), UK
Fukushima, Fuji,
other (--subsidiaries)
TAKASHI IKEGAYA,
PRES
Yuichi Ikegaya,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 8,983 M
PAYMENTS REGULAR CAPITAL Yen
48 M
TREND STEADY WORTH Yen
3,376 M
STARTED 1977 EMPLOYES 90
MFR SPECIALIZING AUTOMATIC CONTROL VALVES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 277.0 MILLION, 30 DAYS NORMAL TERMS.
.
The subject company was
established by Takashi Ikegaya in order to make most of his previous experience
in the subject line of business. This is
a leading mfr of automatic control valves and
accessories. Active in overseas
operations, with overseas factories & subsidiaries in USA, China, India, Korea, and UK,
totaling 11. For overseas business
affiliation, see OPERATION. Clients are major heavy machinery mfrs,
electric powers, steel mills, etc, nationwide.
The financials are only
partially disclosed.
The sales volume for
Aug/2012 fiscal term amounted to Yen 8,983 million, a sharp 37% up from Yen
6,539 million in the previous term. This
is thanks to the robust business activities in its overseas subsidiaries and
agents. The net profit was posted at Yen
346 million, compared with Yen 55 million a year ago.
For the current term
ending Aug 2013 the net profit is projected at Yen 370 million, on a 6% rise in
turnover, to Yen 9,500 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 277.0
million, on 30 days normal terms.
Date Registered:
Feb 1977
Regd No.:
0100-01-062051 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 384,000 shares
Issued: 96,000 shares
Sum: Yen 48 million
Major
shareholders (%): Koso Co Ltd* (100)
*.. Holding company owned by the Ikegaya
family
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures automatic control valves
(--100%)
(Category of products):
Control Valves: Globe valves, gate valves, ball valves,
butterfly valves;
Actuators: Diaphragm, cylinder, motorized, sold state
electronic, microprocessor con-trolled;
Field bus: Electro-pneumatic positioner, electric
control motor actuator, developed with the objective to conform to Fieldbus
Foundation Standard.
Pumps: KOSO brand MAC pumps having leakage-free
magnet coupling pumps for chemical
fluid.
Sensors: SOR products with pressure switches &
transmitters; Tokyo Okazaki Sangyo products (a member of KOSO group), as
differential pressure type flow rate detection elements and industrial
thermometers including venture tubes.
Accessories: electro-pneumatic positioner,
pneumatic-pneumatic positioner, airfilter regulator,
lock valves, current simulator, other.
(Sales affiliation):
Ronan Engineering
Company, ADALET-PLM, SOR Inc, Drallim Controls Inc,
Elpro
Technologies, Imtech-Kiekens, other.
Clients: [Mfrs, electric powers, steel mills] NGC Corp,
Nippon Steel, Mitsubishi Heavy Ind, Tokyo
Electric Power, IHI Corp, Chiyoda Corp, Chugai Ro Co, other.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Tokyo Koso (15%), Koso Service, Koso Engineering (--subsidiaries),
other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Nihombashi)
Mizuho Bank
(Toranomon)
Relations:
Satisfactory.
(In Million
Yen)
|
Terms Ending: |
|
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
Annual
Sales |
|
9,500 |
8,983 |
6,539 |
6,260 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
370 |
346 |
55 |
239 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
3,376 |
3,134 |
3,096 |
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Capital,
Paid-Up |
|
|
48 |
48 |
48 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.76 |
37.38 |
4.46 |
-19.51 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
3.89 |
3.85 |
0.84 |
3.82 |
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Note: Financials
are only partially disclosed.
Forecast (or estimated)
for the 31/08/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.44 |
|
|
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.43 |
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 |
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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.