|
Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
COKEY CO LTD |
|
|
|
|
Registered Office : |
Sanbancho KS Bldg 1F, 2 Sanbancho
Chiyodaku Tokyo 102-0075 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.07.2012 |
|
|
|
|
Date of Incorporation : |
December 1963 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer of pharmaceutical
materials (natural & bio) & intermediates. |
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|
|
|
No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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
COKEY
CO LTD
REGD NAME: Koki
KK
MAIN OFFICE: Sanbancho
KS Bldg 1F, 2 Sanbancho Chiyodaku Tokyo 102-0075 JAPAN
Tel:
03-3263-2081
Fax: 03-3263-3441
E-Mail
address: cokey@cokey.co.jp
Mfg of
pharmaceutical materials (natural & bio) & intermediates
Tsu
(Mie)
Tsu
(Mie); China (subsidiary)
HIROYUKI
MITSUDERA, PRES
Toshinori
Kobayashi, dir
Makoto Itoh, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 5,699 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 10 M
TREND SLOW WORTH Yen
193 M
STARTED 1963 EMPLOYES 60
MFR
SPECIALIZING IN PHARMACEUTICAL MATERIALS & INTERMEDIATES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1953 by Kaoru Yoshida for wholesaling pharmaceutical materials, on his account. Incorporated in 1963, the firm started mfg of pharma- ceutical materials at a newly established factory in Mie-Pref (the same one as now being used), concentrating on “glycyrrhizin”, extracts from daylily. The materials are used not only in pharma- ceuticals but also food additives, cosmetics and bio-chemical industries. The mainstay item has contributed to the growth of the firm to make it one of the leading makers in this specific line of product. In 1996, opened a factory in China for mfg daylily extracts. Products are imported into Japan. The plant-origin materials are also imported from India, and other S/E Asian countries. The firm also has a trading division dealing with pharmaceutical materials, intermediates, cosmetics materials, others. Clients are leading cosmetics makers, pharmaceutical makers, food processors, etc, nationwide.
The financials are only partially disclosed.
The sales volume for Jul/2012 fiscal term amounted to Yen 5,699 million, an 11% down from Yen 6,409 million in the previous term. The net profit was posted at Yen 13 million, compared with 1 million a year ago.
For the term that ended Jul 2013 the net profit was projected at Yen 15 million, on a 5% rise in turnover, to Yen 5,960 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1963
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued:
20,000 shares
Sum: Yen 10 million
Major shareholders (%): Hiroshi Yoshida (85), Yuriko
Sawamura (11)Toshiko Yoshida (2), Masatoshi Takahashi (1), Naomasa Yoshida (1),
other
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures and wholesales
glycyrrhizin and other raw materials &
intermediates for
pharmaceuticals, food additives, cosmetics, industrial chemicals (--100%).
Clients:
[Pharmaceutical mfrs, cosmetics mfrs] Minophagen Seiyaku, Pola
Chemical Ind, Towa Pharmaceutical Co,
Kanebo Cosmetics, Sawai Pharmaceutical Co, Taisho
Pharm Ind, Parmachem Asia,
other.
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nabelin, Yuki
Gosei Kogyo, Permachem Asia, Miyoshi Kasei,Parmachem Asia, other.
Also imports from China, India,
other.
Payment record: No
complaints
Location:
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References: Juroku
Bank (Tokyo)
MUFG (Jinbocho)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
|
Annual
Sales |
|
5,960 |
5,679 |
6,409 |
4,430 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
15 |
13 |
1 |
13 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
193 |
180 |
179 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.95 |
-11.39 |
44.67 |
4.48 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.25 |
0.23 |
0.02 |
0.29 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/07/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 65.96 |
|
|
1 |
Rs. 102.91 |
|
Euro |
1 |
Rs. 85.58 |
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.