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Report Date : |
06.06.2013 |
IDENTIFICATION DETAILS
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Name : |
TETSUSHO KAYABA CORP |
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Registered Office : |
Kaneyama Bldg 7F, 1-2-12 Shinkawa Chuoku |
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Country : |
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Financials (as on) : |
31.01.2012 |
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Date of Incorporation : |
February 1957 |
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Com. Reg. No.: |
0117-01-005260 (Tokyo-Edogawaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer processing, import, export of steel products |
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No. of Employees : |
30 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
|
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
TETSUSHO KAYABA CORP
REGD NAME: Tetsusho
KK
MAIN OFFICE: Kaneyama
Bldg 7F, 1-2-12 Shinkawa Chuoku
Tel:
03-3206-3221 Fax: 03-3206-3633
*.. Registered at:
7-24-17 Matsue Edogawaku Tokyo
URL: http://www.tetsusho.co.jp
E-Mail address: tetsusho@tetsusho.co.jp
Mfg, processing,
import, export of steel products
Kimitsu
Tokyo (at the
registered address)
China, Singapore,
Sri Lanka, Vietnam, Korea
TSUNEO FUKUDA, PRES Hironori Maruyama, v pres
Norihiro Shukube, s/mgn dir Kazuyuki
Matsumoto, mgn
Keita Fukuda, dir Ken’ichi Arai, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 18,359 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 61 M
TREND STEADY WORTH Yen 1,900 M
STARTED 1957 EMPLOYES 30
MFR, IMPORTER AND EXPORTER OF STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was
established by Keisuke Furuya, as Tetsusho KK, at the registered address (now
Tokyo Factory), for wholesaling steel products.
This is a trading firm, with mfg division, specializing in steel
products, such as steel plates, steel sheets, stainless steel plates, etc. In 1958, founded Kayaba Trading KK to engage
in overseas trading, which the firm absorbed in 1994. Tsuneo Fukuda took the pres office in 1995. Has processing yards in China, Sri Lanka and
Indonesia. Active in overseas
expansion. Founded a Singaporean
subsidiary in Jul 2007. Clients are
Nippon Steel group & affiliated firms, including major general trading
houses. .
The sales volume for
Jan/2012 fiscal term amounted to Yen 18,359 million, a 3% up from Yen 17,841 million
in the previous term. The recurring
profit was posted at Yen 321 million and the net profit at Yen 117 million,
respectively, compared with Yen 416 million recurring profit and Yen 178
million net profit, respectively, a year ago
For the current term
ending Jan 2013 the recurring profit is projected at Yen 330 million and the
net profit at Yen 120 million, respectively, on a 3% rise in turnover, to Yen
18,900 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Feb 1957
Regd No.: 0117-01-005260 (Tokyo-Edogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 490,000 shares
Issued: 122,500 shares
Sum: Yen 61.25 million
Major shareholders (%): Tsuneo Fukuda
(26), Nippon Steel Trading Co Ltd (24), Company’s
treasury stock (10), Hironori Maruyama (5), Keita Fukuda (3)
No. of shareholders: 16
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures & processes steel products
(--100%):
(Sales breakdown by divisions):
Domestic Sales Div: hot rolled steel
sheets (60%), acid pickling steel sheets (27%), cold rolled steel sheets (4%),
surface-treated steel sheets (6%), others (3%);
Overseas Sales Div: hot rolled steel
sheets (20%), cold rolled steel sheets (15%), surface-treated
steel sheets (45%), electromagnetic steel sheets (5%), colored steel sheets
(2%), stainless steel sheets (5%), others (8%).
Products are manufactured and processed at
overseas subsidiary factories and affili-ates in China, Sri Lanka, Indonesia,
etc.
Clients: [Mfrs,
wholesalers] Nippon Steel Trading Co, Shinsei Sangyo, Metal One Corp, , Hanwa
Corp, Onoken Co, Mitsui & Co, other.
Exports to China, Sri Lanka, Indonesia,
Singapore and other S/E Asian countries.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Steel mills,
mfrs, wholesalers] Nippon Steel Trading, Mitsui & Co, Nittetsu Shoji Coil Center,
Nippon Stainless Shoji, Siam United Steel, Metal One Corp, Hanwa Corp, other.
Imports from China, Sri Lanka, Indonesia, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC
(Nihombashi-Higashi)
Mizuho Bank
(Shinkawa)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
|
|
Annual
Sales |
|
18,900 |
18,359 |
17,841 |
13,846 |
|
Recur.
Profit |
|
330 |
321 |
416 |
128 |
|
Net
Profit |
|
120 |
117 |
178 |
116 |
|
Total
Assets |
|
|
6,173 |
6,655 |
5,956 |
|
Current
Assets |
|
|
4,655 |
5,420 |
4,899 |
|
Current
Liabs |
|
|
3,174 |
4,052 |
3,735 |
|
Net
Worth |
|
|
1,900 |
1,804 |
1,622 |
|
Capital,
Paid-Up |
|
|
61 |
61 |
61 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.95 |
2.90 |
28.85 |
-42.43 |
|
|
Current Ratio |
|
.. |
146.66 |
133.76 |
131.16 |
|
N.Worth Ratio |
.. |
30.78 |
27.11 |
27.23 |
|
|
R.Profit/Sales |
|
1.75 |
1.75 |
2.33 |
0.92 |
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N.Profit/Sales |
0.63 |
0.64 |
1.00 |
0.84 |
|
|
Return On Equity |
.. |
6.16 |
9.87 |
7.15 |
|
Note: Forecast (or
estimated) for the 31/01/2013 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 |
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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 |
|
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.