|
Report Date : |
14.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOHYO CO LTD |
|
|
|
|
Registered Office : |
5-4-19 Shinsho Yokkaichi Mie-Pref 510-0064 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
July 1971 |
|
|
|
|
Com. Reg. No.: |
(Mie-Yokkaichi) 014805 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Importer, exporter
and wholesaler of fishes, fishery
products, farm products, livestock products, processed foods, canned
foods. |
|
|
|
|
No. of Employees : |
119 |
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 |
|
Maximum Credit Limit : |
Yen 2,012.8 Million |
|
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 |
KOHYO CO LTD
KK Kohyo
5-4-19 Shinsho Yokkaichi Mie-Pref 510-0064 JAPAN
Tel:
0593-54-5411 Fax: 0593-54-3447
E-Mail address: kohyo@kohyoj.co.jp
Import,
export, wholesale of fishes, fishery products
Fuzhou
(China), Yangon (Myanmar)
Kohyo
Holland BV; Kohyo America Inc
(subcontracted)
MASAHIRO
OTSUKI, PRES Yasumasa Shimizu, s/mgn
dir
Katsuyuki
Onodera, mgn dir Masashi Maeda, mgn
dir
Tadashi
Kato, dir Isao Jike,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES: Yen
42,014 M
PAYMENTSNo Complaints
CAPITAL Yen
98 M
TREND SLOW WORTH Yen
6,786 M
STARTED 1971 EMPLOYES
119
TRADING FIRM SPECIALIZING IN MARINE & AGRICULTURAL
PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 2,012.8 MILLION, 30 DAYS NORMAL TERMS
This is a trading house for import, export and wholesale of fishes, fishery products, farm products, livestock products, processed foods, canned foods. Also handles wines, beer, soft drinks, fishing nets & gears, other. Main products are prawns, lobsters, shrimps and shellfish. Has two overseas branches in China and Yangon (Myanmar). Overseas subsidiaries are in Amsterdam and Seattle for purchasing fishes and exporting to Japan. Fishery products are subcontracted processing mostly to factories in China. Domestic clients include fishery markets, fishery dealers, wholesalers, etc.
The sales volume for Jun/2012 fiscal term amounted to Yen 42,014 million, a 5% down from Yen 44,216 million in the previous term. High Yen hurt import/export sales, reducing earnings and profits in Yen terms. The recurring profit was posted at Yen 695 million and the net profit at Yen 438 million, respectively, compared with Yen 1,448 million recurring profit and Yen 847 million net profit, respectively, a year ago.
For the term that ended Jun 2013 the recurring profit was projected at Yen 700 million and the net profit at Yen 450 million, respectively, on a 5% rise in turnover, to Yen 44,100 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 2,012.8 million, on 30 days normal terms.
Date Registered: Jul 1971
Regd No.: (Mie-Yokkaichi) 014805
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
200,000 shares
Issued:
196,000 shares
Sum: Yen 98 million
Major shareholders (%): Hideko Kuromiya (11), Japan Trans City (3), Employees’ S/Holding Assn (3), Chiharu Kusabuka (2), Chie Kusakabe (2), other
No. of shareholders: 21
Nothing detrimental is known as to the commercial morality of executives.
Activities: A trading house for import, export and wholesale of prawns, shrimps, lobsters (--25%), frozen fishes from North seas (20%), frozen fishes from South seas (15%), airfreight fresh fishes (8%), processed fishery products (14%), fish feeds, liquors, farm products, fishing nets & gears, others (--18%). (Breakdowns are all about)
(Export 10-15%)
Clients: [Fishery markets, specialty dealers] Daiei Taigen, Daisui, Osaka Uoichiba, Daiichi Suisan, Uoichi, Yokohama Reito, Jiayuan Fishery (China), Mitsubishi Corp, other.
Exports to Kohyo USA (Seattle), China, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from Kohyo USA, Kohyo Holland, Cresting Wave, Hannan, other. Imports processed foods from China.
Payment record: No Complaints
Location: Business area in Yokkaichi City, Mie-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Yokkaichi)
Hyakugo Bank (Yokkaichi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
|
Annual
Sales |
|
44,100 |
42,014 |
44,216 |
37,544 |
|
Recur.
Profit |
|
700 |
695 |
1,448 |
1,167 |
|
Net Profit |
|
450 |
438 |
847 |
637 |
|
Total
Assets |
|
|
11,861 |
11,724 |
11,285 |
|
Current
Assets |
|
|
10,886 |
10,716 |
10,175 |
|
Current
Liabs |
|
|
5,074 |
5,316 |
5,730 |
|
Net
Worth |
|
|
6,786 |
6,404 |
5,548 |
|
Capital,
Paid-Up |
|
|
98 |
98 |
98 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.97 |
-4.98 |
17.77 |
11.76 |
|
|
Current Ratio |
|
.. |
214.54 |
201.58 |
177.57 |
|
N.Worth Ratio |
.. |
57.21 |
54.62 |
49.16 |
|
|
R.Profit/Sales |
|
1.59 |
1.65 |
3.27 |
3.11 |
|
N.Profit/Sales |
1.02 |
1.04 |
1.92 |
1.70 |
|
|
Return On Equity |
.. |
6.45 |
13.23 |
11.48 |
|
Notes:
Forecast (or estimated) figures for 30/06/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
UK Pound |
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
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.