|
Report Date : |
15.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
KASHIKEY CO LTD |
|
|
|
|
Registered Office : |
Kashikey Bldg, 2-19-3 Shimbashi Minatoku Tokyo 105-0004 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
28.02.2013 |
|
|
|
|
Date of Incorporation : |
September, 1970 |
|
|
|
|
Com. Reg. No.: |
(Tokyo-Minatoku) 092511 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
LINE OF BUSINESS : |
IMPORT, WHOLESALE OF DIAMONDS, OTHER GEM STONES, JEWELRY PRODUCTS |
|
|
|
|
No. of Employees : |
142 |
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 : |
No Complaints |
|
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 – 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 |
|
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 |
KASHIKEY
CO LTD
REGD
NAME: KK Kashikey
MAIN
OFFICE: Kashikey Bldg, 2-19-3 Shimbashi
Minatoku Tokyo 105-0004 Japan
Tel: 03-3575-0810
URL: Error!
Hyperlink reference not valid.
E-Mail address: info@kashikey.co.jp
Import, wholesale of diamonds, other gem
stones, jewelry products
Nagoya, Kofu
Belgium, Israel, India (Mumbai), Hong Kong
(--representative offices)
Key Diamond (Belgium), Kashikey Taiwan
(Taiwan) (--subsidiaries)
(subcontracted)
KAZUYA TAGUCHI, PRES & CEO
Hisao Katoh, ch
Kenji Katoh, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen
5,845 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 88 M
TREND SLOW WORTH Yen 801 M
STARTED 1970 EMPLOYES 142
IMPORTER AND WHOLESALER SPECIALIZING IN
DIAMONDS AND JEWELRY PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established
originally in 1923 by Hidemitsu Katoh as a jewelry store. In 1970 incorporated by Hidetaka Katoh, son
of Hidemitsu. In Feb 2011 the firm
founded a holding company, Kashikey Holdings, and reorganized with capital
decreased to Yen 88 million from the former Yen 310 million. This is a specialized trading firm for import
and wholesale of diamonds, other gem stones, and jewelry products. Diamonds and jewelry products are imported
widely from Belgium, Israel, India, USA, Germany, Thailand, Hong Kong, France,
Italy, other. Has two overseas
subsidiaries in Belgium and Taiwan, with purchasing offices in Hong Kong and
India. Clients are major jewelry
processors, jewelry stores, chain stores, etc, nationwide.
The sales volume for Feb/2013 fiscal term
amounted to Yen 5,845 million, a 7% down from Yen 6,272 million in the previous
term. Consumer spending continued
stagnant & sluggish, The recurring
profit was posted at Yen 25 million and the net profit at Yen 39 million,
respectively, compared with Yen 19 million recurring loss and Yen 12 million
net losses a year ago.
For the current term ending Feb 2014 the
recurring profit is projected at Yen 6,150 million and the net profit at Yen 40
million, on a 5% rise in turnover, to Yen 6,150 million. Lower Yen will raise imports/exports earnings
in Yen terms.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements
Date
Registered: Sept 1970
Regd
No.: (Tokyo-Minatoku)
092511
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 7,040
million shares
Issued:
1,760 shares
Sum: Yen
88 million
Major
shareholders (%): Kashikey Holdings Co* (100)
*.. Holding company
owned by the Katoh family
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports and
wholesales polished diamonds (25%), diamond jewelry (50%), colored stone
jewelry, other previous stone jewelry, pearl & jewelry (25%).
Goods are imported from Belgium, Israel,
India, USA, Germany, Thailand, Hong Kong, India, Switzerland, Canada,
Australia, other. Mfg is mostly
consigned to local jewelry processors.
Clients: [Department
stores, jewelry processors, jewelry stores] As-Me ESTELLE, Mitsukoshi Isetan,
Takashimaya, JR West Japan Isetan, JR Tokai Takashimaya, other.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kashikey Diamond India, Rosy Blue India, Ishifuku Metal Ind,
Meijido, Katagiri Kikinzoku Kougyou Co, other.
Imports from India (40%), other from
Belgium, Israel, India, Thailand, Hong Kong, USA, Germany, etc.
Payment
record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Mizuho Bank (Ginza)
MUFG (Shimbashi-Ekimae)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2014 |
28/02/2013 |
29/02/2012 |
|
|
Annual
Sales |
6,150 |
5,845 |
6,272 |
|
|
Recur.
Profit |
45 |
25 |
19 |
|
|
Net
Profit |
40 |
39 |
12 |
|
|
Total
Assets |
5,495 |
5,314 |
||
|
Current
Assets |
5,291 |
5,133 |
||
|
Current
Liabs |
673 |
670 |
||
|
Net
Worth |
801 |
641 |
||
|
Capital,
Paid-Up |
88 |
88 |
||
|
Div.P.Share(¥) |
11,150.00 |
3,420.00 |
||
|
<Analytical Data> |
(%) |
(%) |
(%) |
|
|
S.Growth
Rate |
5.22 |
-6.81 |
- -
-.. |
|
|
Current
Ratio |
.. |
786.18 |
766.12 |
|
|
N.Worth
Ratio |
.. |
14.58 |
12.06 |
|
|
R.Profit/Sales |
0.73 |
0.43 |
0.30 |
|
|
N.Profit/Sales |
0.65 |
0.67 |
0.19 |
|
|
Return
On Equity |
.. |
4.87 |
1.87 |
|
Notes: The 29/02/2012 is the initial
accounting term since its reorganization.
Forecast (or estimated) figures for the
28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.