|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
K2 JAPAN CORPORATION |
|
|
|
|
Registered Office : |
Shibaura Square Bldg 11F, 4-9-25 Shibaura
Minatoku Tokyo 108-0023 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
February 1978 |
|
|
|
|
Com. Reg. No.: |
0110-01-033553 (Tokyo-Minatoku) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, wholesale of sporting
goods (skis, snowboards, ski wear, other) |
|
|
|
|
No. of Employees : |
28 |
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 : |
Usually Correct |
|
|
|
|
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 |
|
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 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 |
K2 JAPAN CORPORATION
KK K2 Japan
Shibaura Square Bldg
11F, 4-9-25 Shibaura Minatoku Tokyo 108-0023 JAPAN
Tel:
03-6858-7822 Fax: 03-6858-7831
E-Mail address: info@k2japan.com
Import,
wholesale of sporting goods (skis, snowboards, ski wear, other)
Nil
USA
(parent company)
HIDEAKI
TANAKA, PRES
Kunihiko
Sasame, dir
Kazuo
Horie, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,425 M
PAYMENTSUsually Correct CAPITAL Yen
20 M
TREND UP WORTH Yen 1,290 M
STARTED 1978 EMPLOYES 28
IMPORTER OF SPORTING GOODS, OWNED BY K2 CORPORATION (USA).
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by K2 Corporation, USA, as its
marketing arm in Japan. This is a
trading firm importing and wholesaling sporting goods: skis, snowboards, inline
skates, other. Goods are all imported
from the USA parent and its group firms.
Clients include sporting goods stores, wholesalers, other.
Financials are only partially disclosed.
The sales volume for Dec/2012 fiscal term amounted to Yen 2,425 million,
a 13% up from Yen 2,140 million in the previous term. Imports of skis and snowboards increased, as
demand rose domestically. The net profit
was posted at Yen 90 million, compared with Yen 83 million a year ago.
For the current term ending Dec 2013 the net profit is projected at Yen
90 million, on a 3% rise in turnover, to Yen 2,500 million. Business is seen steadily expanding.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Feb
1978
Regd No.: 0110-01-033553 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
40,000 shares
Issued:
40,000 shares
Sum: Yen 20 million
Major shareholders
(%): K2 Corporation, USA (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales sporting goods: skis, snowboards, inline skates, sporting wears, others (--100%)
Clients: [Mfrs, wholesalers] Alpen Co (15%), Xibio Co (15%), Murasaki Sports, Victoria Sports, Moriyama Sports, Sports Takahashi, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] K2 Corporation (USA) and its group firms
Payment record: Usually Correct
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Shinjuku-Minamiguchi)
MUFG
(Shinjuku-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual
Sales |
|
2,500 |
2,425 |
2,140 |
2,135 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
90 |
90 |
83 |
60 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
1,290 |
1,207 |
1,124 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.09 |
13.32 |
0.23 |
3.34 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
3.60 |
3.71 |
3.88 |
2.81 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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 |
|
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.