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Report Date : |
15.11.2013 |
IDENTIFICATION DETAILS
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Name : |
KOSUGE FURNITURE INC |
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Registered Office : |
JST Bldg 3F, 2-28-15 Asakusabashi Taitoku
Tokyo 111-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April 2009 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures furniture, interior goods, beds, offering
repairing & remodeling services |
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No. of Employees : |
05 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
YEN 1.5 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but 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 – 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
KOSUGE FURNITURE INC
REGD NAME: KK
Kosuga No Kagu
MAIN OFFICE: JST
Bldg 3F, 2-28-15 Asakusabashi Taitoku Tokyo 111-0053 JAPAN
Tel:
03-3862-6711 Fax: 03-3662-6713
URL: http//:www.kosuga-furniture.com
E-mail: (thru the URL)
Mfg of furniture,
interiors, beds, other
At the caption
address (store)
Akagicho
(Shibukawa)
KOTA KOSUGA, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 80 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
5 M
TREND SLOW WORTH Yen 33 M
STARTED ` 2009 EMPLOYES 5
MFR OF FURNITURE,
REPAIRING, REMODELLING SERVICES
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT:
YEN 1.5 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Kota Kosuga in order to
reactivate Kosuga Furniture Inc. This is
a specialized mfr of furniture, interiors, beds, repairing & remodeling works,
other. Clients include business firms,
construction company, and consumers.
Financials are only partially disclosed.
The sales volume for Mar/2013 fiscal term amounted to Yen 80 million, a
similar amount in the previous term. The
net profit remained similar at Yen 10 million.
.
For the current term ending Mar/2014 the net profit is projected at Yen
11 million, on a 6% rise in turnover, to Yen 85 million.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements. Max
credit limit is estimated at Yen 1.5 million, on 30 days normal terms.
Date Registered: Apr
2009
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 400
Issued: 100
shares
Sum: Yen
5 million
Major
shareholders (%): Kota Kosuga (100)
Nothing detrimental is known as to his
commercial morality.
Activities: Manufactures
furniture, interior goods, beds, offering repairing & remodeling services
(--100%)
Goods are also retailed at its own stores at
the caption address.
Clients: Consumers,
business firms, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in greater-Tokyo,
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References: MUFG (Yaesudori)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual
Sales |
|
85 |
80 |
80 |
60 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
11 |
10 |
10 |
6 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
33 |
23 |
13 |
|
Capital,
Paid-Up |
|
|
5 |
5 |
5 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.25 |
0.00 |
33.33 |
0.00 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
12.94 |
12.50 |
12.50 |
10.00 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2014 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 : |
NIS |
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.