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Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
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Name : |
KAGA LUMBER CO LTD |
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Registered Office : |
2-12-20 Kaneishi-Nishi Kanazawa |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
December 1947 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, processing, wholesale of timber, plywood, housing members,
2x4 housing kits, laminated timber |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 : |
Regular |
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Litigation : |
---- |
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 |
|
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 |
KAGA LUMBER CO LTD
Kaga Mokuzai KK
2-21 Minato
Kanazawa 920-0211 JAPAN
Tel:
076-238-4131 Fax: 076-238-4023
*.. Registered at: 2-12-20 Kaneishi-Nishi Kanazawa
URL: http://www.kagamoku.co.jp
E-Mail address: kagamoku@kagamoku.co.jp
Import,
processing, wholesale of timber, plywood, housing members, 2x4 housing kits,
laminated timber
Tokyo,
Osaka
At the
caption address
SEIICHI
MASUE, PRES
Hiroo Masue, ch
Kunihiro Masue, s/mgn dir T
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,528 M
PAYMENTSREGULAR CAPITAL Yen
30 M
TREND SLOW WORTH Yen 383 M
STARTED 1947 EMPLOYES 30
IMPORTER AND PROCESSOR OF HOUSING TIMBERS, PLYWOOD, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Hiroo Masue in order to make most of his experience in the subject line of business. Seiichi is his son. This is a trading firm, with mfg and processing division, for import and wholesale of lumber, timber, housing members, 2x4 panels, other (See OPERATION). Goods are imported from USA, Canada, Europe, other, mostly thru general trading houses. Clients include housing makers, construction firms, other, nationwide.
The sales volume for Sept/2012 fiscal term amounted to Yen 3,528 million, a 19% down from Yen 4,367 million in the previous term. The recurring profit was posted at Yen 24 million and the net profit at Yen 2 million, respectively, compared with Yen 10 million recurring profit and Yen 60 million net profit, respectively, a year ago.
For the current term ending Sept 2013 the recurring profit is projected at Yen 35 million and the net profit at Yen 25 million, respectively, on a 5% rise in turnover, to Yen 3,700 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec
1947
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders
(%): Hiroo Masue & families (--100)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, processes and wholesales logs & timber: lumber, housing members, 2x4 housing panels, housing facilities, incombustible timer & plywood, glued laminated timber, other (--100%)
Clients: [House makers, wholesalers] Daiwa House Ind, Kajima Corp, Shimizu Corp, Penta Ocean Construction Co, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sojitz Building Materials Corp, Mitsubishi Shoji Construction Materials Corp, Sumisho & Mitsui Bussan Kenzai Co, Itochu Kenzai Corp, Kanazawa Mokuzai Corp, other
Payment record: Regular
Location: Business area in Kanazawa. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Hokkoku Bank (Kanazawa-Chuo)
Shoko Chukin Bank (Kanazawa)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
Annual
Sales |
|
3,700 |
3,528 |
4,367 |
4,102 |
|
Recur.
Profit |
|
35 |
24 |
1 |
30 |
|
Net
Profit |
|
25 |
2 |
6 |
30 |
|
Total
Assets |
|
|
2,765 |
2,749 |
2,825 |
|
Current
Assets |
|
|
1,713 |
1,713 |
1,702 |
|
Current
Liabs |
|
|
1,842 |
1,929 |
2,073 |
|
Net
Worth |
|
|
383 |
381 |
374 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.88 |
-19.21 |
6.46 |
13.16 |
|
|
Current Ratio |
|
.. |
93.00 |
88.80 |
82.10 |
|
N.Worth Ratio |
.. |
13.85 |
13.86 |
13.24 |
|
|
R.Profit/Sales |
|
0.95 |
0.68 |
0.02 |
0.73 |
|
N.Profit/Sales |
0.68 |
0.06 |
0.14 |
0.73 |
|
|
Return On Equity |
.. |
0.52 |
1.57 |
8.02 |
|
Notes:
Forecast (or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.45 |
|
UK Pound |
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
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 |
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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 |
|
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.