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Report Date : |
18.10.2013 |
IDENTIFICATION DETAILS
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Name : |
KF TRADING CO LTD |
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Registered Office : |
KDF Nihombashi Bldg 7F, 1-5-11 Nihombashi-Honcho Chuoku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April
1986 |
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Com. Reg. No.: |
0100-01-042915
(Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of caster oil & derivatives: caster wax, caster wax fatty acid, dehydrated caster oil, fatty acid hygiene, hydrogenated caster oil, hydroxyl stearic acid, seasick acid, polyricinoleate, esters, special amide |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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 |
KF TRADING CO LTD
K. F. Trading KK
KDF Nihombashi
Bldg 7F, 1-5-11 Nihombashi-Honcho Chuoku Tokyo 103-0023 JAPAN
Tel:
03-5203-4141 Fax: 03-5203-4040
URL: http://www.kft.co.jp
E-Mail address: (thru the URL)
Mfg of
caster oil & derivatives
Kitamoto
(Saitama) (Logistic Center)
T J Pac
Co Ltd, TS Chemical Co Ltd, TK Wax Co Ltd (-- Bangkok) (--factories)
Bangkok
as above
TAKAFUMI
MIYAZAKI, PRES Hiroshi Masuda, dir
Daisuke
Kobayashi, dir Tatsuo
Kitagawara, dir
Yoshiyuki
Saito, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,786 M
PAYMENTS Slow
but Correct CAPITAL Yen
10 M
TREND UP WORTH Yen 623 M
STARTED 1986 EMPLOYES 15
MFG OF CASTER OIL.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated from Kawaken Fine Chemicals Co Ltd, mfr of fine chemicals, Tokyo. In 1989, trade rights were transferred from Kawaken for synthetic drying oil, fatty acid (dehydrated caster oil, dehydrated caster oil fatty oil, hygiene, etc). This is a trading firm, with mfg division, for import, export and wholesale of caster oil & derivatives (See OPERATION). Operates three mfg factories in Thailand. Materials and products are imported from India. Domestic clients include fine chemicals makers, ink makers, other, nationwide
The sales volume for Mar/2013 fiscal term amounted to Yen 2,786 million, a 14% down from Yen 3,221 million in the previous term. High Yen hurt exports/imports, reducing revenues in Yen terms. The recurring profit was posted at Yen 94 million and the net profit at Yen 26 million, respectively, compared with Yen 54 million recurring profit and Yen 33 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 95 million and the net profit at Yen 30 million, respectively, on a 4% rise in turnover, to Yen 2,900 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr
1986
Regd No.: 0100-01-042915 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): KF Trading Co (65), TK Wax (6),
Takafumi Miyazaki (6), Hiroshi Masuda (5), Daisuke Kobayashi (5)
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures caster oil & derivatives: caster wax, caster wax fatty acid, dehydrated caster oil, fatty acid hygiene, hydrogenated caster oil, hydroxyl stearic acid, seasick acid, polyricinoleate, esters, special amide, other (--100%)
Clients: [Mfrs, wholesalers] Kyodo Yushi Co, Kyoeisha Chemical, Kusumoto Chemicals Ltd, Kawaken Fine Chemical, Tohto Chemical Ind, Johnson Co, Toyo Ink Co, Toray Ind, Takemoto Oil & Fat Co, Yushiro Chemical Ind, Katsuta Kako Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Katsuta Kako Co, Kawaken Fine Chemical, Toa Kasei Co, Toei Chemical Co, Japan Kemtech Ltd, other.
Imports from: Jayant Agro-Organics Ltd, Biotor Industries Ltd (--India), TK Wax, TS Chemical, TJ Pac Co (--Thailand), other
Payment record: Slow but Correct
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Muromachi)
SMBC (Nihombashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
|
2,900 |
2,786 |
3,221 |
2,986 |
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Recur.
Profit |
|
95 |
94 |
54 |
159 |
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Net
Profit |
|
30 |
26 |
33 |
94 |
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Total
Assets |
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1,909 |
2,040 |
1,949 |
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Current
Assets |
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|
1,414 |
1,613 |
1,501 |
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Current
Liabs |
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|
923 |
963 |
1,036 |
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Net
Worth |
|
|
623 |
599 |
569 |
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Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.09 |
-13.51 |
7.87 |
7.60 |
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Current Ratio |
|
.. |
153.20 |
167.50 |
144.88 |
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N.Worth Ratio |
.. |
32.63 |
29.36 |
29.19 |
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R.Profit/Sales |
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3.28 |
3.37 |
1.68 |
5.32 |
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N.Profit/Sales |
1.03 |
0.93 |
1.02 |
3.15 |
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Return On Equity |
.. |
4.17 |
5.51 |
16.52 |
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Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.58 |
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UK Pound |
1 |
Rs.98.51 |
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Euro |
1 |
Rs.83.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.