|
Report Date : |
06.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOBIRA CORPORATION |
|
|
|
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Registered Office : |
4-48-9 Shimoarata |
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|
|
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Country : |
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|
|
|
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Financials (as on) : |
31.10.2012 |
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Date of Incorporation : |
December 1965 |
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|
|
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Com. Reg. No.: |
3400-01-001716 (Kagoshima-Kagoshima) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of LPG, fish products, PC’s, software, other |
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|
|
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No. of Employees : |
67 |
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 |
|
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 – 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 |
|
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 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
KOBIRA CORPORATION
REGD NAME: Kobira
KK
MAIN OFFICE: 4-48-9
Shimoarata Kagoshima 890-0056
Tel: 099-250-7262 Fax: 099-250-7265
E-Mail address: (thru the URL)
Import, export,
wholesale of LPG, fish products, PC’s, software, other
Kagoshima (4),
Miyazaki, Kumamoto, Oita (Tot 7)
India (JV)
(subcontracted)
KANTA KOBIRA, PRES roach Kobira, ch
Shuji Nagayama,
dir Makoto Takara, dir
Tetsuya Kanda, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,296 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 281 M
STARTED 1965 EMPLOYES 67
TRADING FIRM SPECIALIZING IN LPG, FISH PRODUCTS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established by Ryoichi Kobira, now ch, in order to make most of his experience
in the subject line of business. Kanta
is his son, who took the pres office in Sept 2010. This is a trading firm for import, export and
wholesale of LPG, fish products (Surimi or fish paste), PCs & software,
agro products, other. Operates a paprika
cultivation yard in India jointly with Gadre Agrotech (India), from where the
products are exported to Japan, Singapore, Taiwan, other.
The sales volume for
Oct/2012 fiscal term amounted to Yen 6,296 million, a 35% up from Yen 4,633
million in the previous term. LPG &
propane gas prices were up. Imports of
fish products increased. The recurring
profit was posted at Yen 40 million and the net profit at Yen 22 million,
respectively, compared with Yen 69 million recurring profit and Yen 52 million
net profit, respectively, a year ago.
For the current term
ending Oct 2013 the recurring profit is projected at Yen 50 million and the net
profit at Yen 30 million, respectively, on a 5% rise in turnover, to Yen 6,600
million. Weaker Yen may increase
import/export earnings in Yen terms.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec
1965
Regd No.:
3400-01-001716 (Kagoshima-Kagoshima)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Ryoichi Kobira
& families (--100)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales: LPG, propane gas, Surimi (minched fish), frozen fish,
cuttlefish, crabs, octopus, food additives, PC’s & software, paprika, other
agro products (--100%)
Operates a paprika cultivation yard in India
jointly with Gadre Agrotech (India)
Clients: [Mfrs,
wholesalers] Matsuda Sangyo Co, Nichimo Co, Tokai Denpun Co, Taiyo Gas Co,
Apollo Station Service, Duplo Corp, Yoshimine Propane, Kamasho Co, other
No. of accounts:
300
Domestic areas of
activities: Centered in Kagoshima & vicinities
Suppliers: [Mfrs,
wholesalers] Gadre Agrotech (India), Arctic Fjord, JX Nippon Oil & Mining
Corp, Marubeni Energy, Idemitsu Kosan, NEC, other
Payment record: No Complaints
Location: Business area in
Kagoshima. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
Kagoshima Bank
(Kamoike)
MUFG (Fukuoka)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/10/2013 |
31/10/2012 |
31/10/2011 |
31/10/2010 |
|
|
Annual
Sales |
|
6,600 |
6,296 |
4,633 |
5,173 |
|
Recur.
Profit |
|
50 |
40 |
69 |
|
|
Net
Profit |
|
30 |
22 |
52 |
75 |
|
Total
Assets |
|
|
1,942 |
1,901 |
1,984 |
|
Current
Assets |
|
|
1,532 |
1,485 |
|
|
Current
Liabs |
|
|
1,180 |
1,118 |
|
|
Net
Worth |
|
|
281 |
266 |
221 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
7.60 |
7.60 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.83 |
35.89 |
-10.44 |
18.65 |
|
|
Current Ratio |
|
.. |
129.83 |
132.83 |
.. |
|
N.Worth Ratio |
.. |
14.47 |
13.99 |
11.14 |
|
|
R.Profit/Sales |
|
0.76 |
0.64 |
1.49 |
.. |
|
N.Profit/Sales |
0.45 |
0.35 |
1.12 |
1.45 |
|
|
Return On Equity |
.. |
7.83 |
19.55 |
33.94 |
|
Notes: Forecast
(or estimated) figures for the 31/10/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
|
1 |
Rs.86.54 |
|
Euro |
1 |
Rs.73.86 |
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.