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Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
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Name : |
KAWASAKI TRADING CO LTD |
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Registered Office : |
Shinko Bldg, 8 Kaigandori Chuoku Kobe 650-0024 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
June 1951 |
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Com. Reg. No.: |
1400-01-006992 (Kobe-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of industrial machinery/equipment, other |
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No. of Employees : |
276 |
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 : |
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 – 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 |
|
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
KAWASAKI TRADING CO LTD
REGD NAME: Kawajyu
Shoji KK
MAIN OFFICE: Shinko
Bldg, 8 Kaigandori Chuoku Kobe 650-0024 JAPAN
Tel:
078-392-1131 Fax: 078-391-1520
*.. The is its
Osaka Office
URL: http://www.kawasakitrading.co.jp
E-Mail address: (thru the URL)
Import, export,
wholesale of industrial machinery/equipment, other
Tokyo, Osaka,
Sendai, Chiba, Nagoya, Hiroshima, Fukuoka, other (Tot 22)
China (5), Hong
Kong, Taiwan, Vietnam, Thailand, Singapore, Brazil, other
SHIMPEI MORITA,
PRES Terunori Kitasjima, mgn dir
Takashi Kawashima,
mgn dir Isao Ueda, dir
Munehiro Takawa,
dir Yoshio Arai, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 108,050 M
PAYMENTSREGULAR CAPITAL Yen
600 M
TREND UP WORTH Yen 5,547 M
STARTED 1951 EMPLOYES 276
TRADING FIRM SPECIALIZING IN INDUSTRIAL MACHINERY, AFFILIATED
TO KAWASAKI HEAVY IND.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading division
separated from Kawasaki Heavy Ind (See REGISTRATION). This is a trading firm for import, export and
wholesale of industrial machinery/equipment, air conditioners, petroleum
products, steel products, other (See OPERATION). Goods are widely exported. Sales to group firms accounts for 25-30% of
total sales. Domestic clients include
heavy machinery makers, shipping lines, steel works, other, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 108,050
million, a 10% up from Yen 98,157 million in the previous term. Exports were brisk into China and other S/E
Asian countries. The recurring profit
was posted at Yen 1,413 million and the net profit at Yen 612 million,
respectively, compared with Yen 996 million recurring profit and Yen 462
million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 1,500 million and the net profit at Yen 650 million, respectively, on a
6% rise in turnover, to Yen 115,000 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Jun
1951
Regd No.:
1400-01-006992 (Kobe-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4.8 million shares
Issued: 1.2 million shares
Sum: Yen 600 million
Major shareholders (%): Kawasaki Heavy
Ind* (70), Kawasaki Kisen KK (10), JFE Steel
(10),
Showa Shell Sekiyu (10)
No. of shareholders: 4
*.. Comprehensive
heavy electric machinery & engineering company, Kobe, founded
1896, listed Tokyo, Osaka, Nagoya S/E’s,
capital Yen 104,484 million, sales 1,303,778 million, operating profit Yen 57,484
million, recurring profit Yen 63,627 million, net profit Yen 23,323 million,
total assets Yen 1,380,896 million , net worth Yen 306,427 million, employees
33,267, pres Satoshi Hasegawa
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of industrial machinery, construction & steel
products, petroleum products, other:
(Sales
Breakdown by Divisions):
Industrial
Machinery/Equipment Div (60%): hydraulic equipment, hydraulic pumps, valves,
motors, peripheral equipment, precision gear pumps, winders, textile machinery,
industrial robots, air conditioning systems, boilers, absorption chillers,
heaters, marine machinery, shipbuilding equipment, steelmaking equipment, power
plants, factory equipment, other;
Construction
Equipment/tools Div (5%): construction works, solar panels, flame detectors,
other;
Petroleum
Products Div (26%);
Steel
Products Div (9%)
Clients: [Mfrs,
wholesalers] Kawasaki Heavy Ind, Kawasaki Shipbuilding, JFE Steel, Kawasaki
Kisen Kaisha, Fuji Kenzai (Building Materials), Kandenko, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Showa Shell Sekiyu, Kawasaki Heavy Ind, Nippon Steel, Daikin Ind, Nagano
Keiki Co, other
Payment record: Regular
Location: Business area in
Kobe. Office premises at the caption
address are owned by the parent, Kawasaki Heavy Ind, and maintained
satisfactorily.
Bank References:
Mizuho Corporate
Bank (Kobe)
SMBC (Kobe)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
115,000 |
108,050 |
98,157 |
87,088 |
|
Recur.
Profit |
|
1,500 |
1,413 |
992 |
996 |
|
Net
Profit |
|
650 |
612 |
462 |
776 |
|
Total
Assets |
|
|
51,542 |
42,311 |
37,675 |
|
Current
Assets |
|
|
46,930 |
37,343 |
32,492 |
|
Current
Liabs |
|
|
45,074 |
36,191 |
31,493 |
|
Net
Worth |
|
|
5,547 |
5,237 |
5,256 |
|
Capital,
Paid-Up |
|
|
600 |
600 |
600 |
|
Div.P.Share(¥) |
|
|
256.00 |
324.00 |
1,095.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.43 |
10.08 |
12.71 |
-27.75 |
|
|
Current Ratio |
|
.. |
104.12 |
103.18 |
103.17 |
|
N.Worth Ratio |
.. |
10.76 |
12.38 |
13.95 |
|
|
R.Profit/Sales |
|
1.30 |
1.31 |
1.01 |
1.14 |
|
N.Profit/Sales |
0.57 |
0.57 |
0.47 |
0.89 |
|
|
Return On Equity |
.. |
11.03 |
8.82 |
14.76 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.26 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.70.21 |
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 |
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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.