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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
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Name : |
KOSEI CO LTD |
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Registered Office : |
Global Heights Edobori, 1-8-21-311 Enokojima Nishiku Osaka 550-0006 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
Oct 1995 |
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Com. Reg. No.: |
1200-02-021860 (Osaka-Nishiku) |
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Legal Form : |
Private Limited Company (Yugen
Kaisha) |
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Line of Business : |
Import, wholesale of chemical
products, LED electric bulbs. |
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No. of Employees : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Poor |
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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.
|
Source
: CIA |
KOSEI CO LTD
Kosei YK
Global Heights Edobori,
1-8-21-311 Enokojima Nishiku Osaka 550-0006 JAPAN
Tel:
06-6443-9196 Fax: 06-6443-9250
E-Mail
address: (thru the URL)
Import,
wholesale of chemical products, LED electric bulbs
Nil
Taiwan,
Hong Kong, China (--agents)
MASAHIKO
KURE, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 190 M
PAYMENTSUSUALLY
CORRECT CAPITAL Yen 3 M
TREND SLOW WORTH Yen 18 M
STARTED 1995 EMPLOYES 1
TRADING FIRM SPECIALIZING CHEMICAL PRODUCTS.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK AND DOUBTFUL FOR CREDIT ENGGEMENTS: US$200,000 / O/A 60 DAYS.
The subject company was established by Masahiko Kure in
order to make most of his experience in the subject line of business. This is a one-man operated trading firm,
operating from his home address, for import and wholesale of chemical products,
LED electric bulbs, other.
Has purchasing agents in Taiwan, Hong Kong, China, other
Financials are only partially disclosed.
The sales volume for Sept/2012 fiscal term amounted to Yen
190 million, a similar amount in the previous term. The net profit marked time at Yen 1 million,
similarly in the previous term.
For the current term ending Sept 2013 the net profit is
projected to mark time at Yen 1 million, on a 3% rise in turnover, to Yen 195
million.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
The proposed amount, however, is considered TOO HIGH from the recent
financial status.
Date Registered: Oct 1995
Regd No.: 1200-02-021860
(Osaka-Nishiku)
Legal Status: Private Limited Company (Yugen Kaisha)
Regd Capital: Yen 3 million
Major Shareholders (%):
Masahiko Kure (100)
Nothing
detrimental is known as to his commercial morality.
Activities: Imports and wholesales chemical
products (plastic additives, others), LED electric bulbs, other (--100%)
Clients: [Mfrs, wholesalers] Mama Clean
Homecare, Daiichi Eizai Co, other
No. of
accounts: 100
Domestic
areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Ohtori Group
firms, Yoneshima Felt Co, Showa Denko, other
Imports from China, Taiwan, Hong
Kong, other
Payment record: Usually
Correct
Location:
Business area in Osaka. Office premises
at the caption address is owned by M Kure as his private home residence and
maintained satisfactorily
Bank References:
SMBC
(Midosuji)
Relations:
Money deposits and transfers only
(In Million Yen)
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Terms Ending: |
|
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
Annual
Sales |
|
195 |
190 |
190 |
200 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
1 |
1 |
1 |
1 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
15 |
14 |
13 |
|
Capital,
Paid-Up |
|
|
3 |
3 |
3 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.63 |
0.00 |
-5.00 |
-9.09 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.51 |
0.53 |
0.53 |
0.50 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
<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.