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Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
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Name : |
KOJIMA AGENCY CO LTD |
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Registered Office : |
12-12 Tomatsurimotocho Utsunomiya
Tochigi-Pref 320-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
March 1973 |
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Com. Reg. No.: |
0600-01-000399
(Tochigi-Utsunomiya) |
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Legal Form : |
Limited Company |
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Line of Business : |
Ad agency, wedding hall operation |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Usually Correct |
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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 (31.03.2012) |
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.
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Source : CIA |
KOJIMA AGENCY CO LTD
KK Kojima Agency
12-12
Tomatsurimotocho Utsunomiya Tochigi-Pref 320-0031 JAPAN
Tel:
028-621-4522 Fax: 028-624-5631
E-Mail address: (thru
the URL)
Ad
agency, wedding hall operation
Nil
At the
caption address
ETSUO
TERASAKI, PRES
Hideo
Ishikawa, dir
Shuzo Ueno,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES WEAK A/SALES Yen 6,663 M
PAYMENTSUsually Correct CAPITAL Yen 214 M
TREND SLOW WORTH Yen (-) 935 M
STARTED 1973 EMPLOYES 30
AD AGENCY & WEDDING HALL OPERATION, OWNED BY KOJIMA CO.
FINANCIAL SITUATION CONSIDERED WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN (-) 352.1 MILLION, 30 DAYS, RECOMMENDING FULLY SECURED TERMS FROM KOJIMA CO LTD
The subject company was established on the basis of a division separated from Kojima Co Ltd (See REGISTRATION). This is an ad agency and operator of wedding hall. It also leases office buildings. Advertisement is mainly for the parent, Kojima Co Ltd.
The sales volume for Mar/2012 fiscal term amounted to Yen 6,663 million, a 10% down from Yen 7,397 million in the previous term. Advertisement was decreased. Wedding hall operation also decreased. The operations continued in the red to register Yen 67 million recurring loss and Yen 72 million net losses, respectively, compared with Yen 162 million recurring loss and Yen 525 million net losses, respectively, a year ago.
For the current term ending Mar 2013 the operations are projected to come back to profitability but still limited to a minimum amount post-taxes, on an almost similar turnover, at Yen 6,700 million.
The financial situation is considered WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen (-) 352.1 million, 30 days, recommending fully secured terms on new credits from the parent, Kojima Co Ltd. Please note the net worth is negative.
Date Registered: Mar
1973
Regd No.: 0600-01-000399
(Tochigi-Utsunomiya)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.7 million shares
Issued:
428,600 shares
Sum: Yen 214.3 million
Major shareholders (%):
Kojima Co Ltd* (100)
*..Medium-sized mass discount store operator for consumer electronics, operating direct-run stores, Tochigi, founded 1963, listed Tokyo S/E, capital Yen 25,975 million, sales Yen 126,445 million, operating loss Yen 3,021 million, recurring loss Yen 3,028 million, net loss Yen 15,204 million, total assets Yen 171,472 million, net worth Yen 49,901 million, employees 4,126, pres Etsuo Terasaki, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Ad agency; wedding hall operator; real estate leasing/management, others (--100%)
Clients: [Mfrs, wholesalers] Kojima Co Ltd; consumers, business firms, others
No. of accounts: Unavailable
Domestic areas of activities: Centered in Tochigi-Pref
Suppliers: [Mfrs, wholesalers] Tokyu Agency, FM Mobile Communications, Hasegawa Ltd, other.
Payment record: Usually Correct
Location: Business area in Utsunomiya, Tochigi-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Ashikaga Bank (Utsunomiya)
SMBC (Tokyo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
6,700 |
6,663 |
7,397 |
7,864 |
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Recur.
Profit |
|
0 |
-67 |
-162 |
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Net
Profit |
|
0 |
-72 |
-525 |
-664 |
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Total
Assets |
|
|
1,038 |
940 |
1,508 |
|
Current
Assets |
|
|
717 |
614 |
|
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Current
Liabs |
|
|
1,903 |
1,722 |
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Net
Worth |
|
|
-935 |
-863 |
-337 |
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Capital,
Paid-Up |
|
|
214 |
214 |
214 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.56 |
-9.92 |
-5.94 |
-30.37 |
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Current Ratio |
|
.. |
37.68 |
35.66 |
.. |
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N.Worth Ratio |
.. |
-90.08 |
-91.81 |
-22.35 |
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R.Profit/Sales |
|
0.00 |
-1.01 |
-2.19 |
.. |
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N.Profit/Sales |
0.00 |
-1.08 |
-7.10 |
-8.44 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
UK Pound |
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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.