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Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
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Name : |
OKABE KAMIKON CO LTD |
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Registered Office : |
2-14-28 Naeshiro Moriyamaku Nagoya 463-0046 |
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Country : |
Japan |
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Date of Incorporation : |
May, 1967 |
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Com. Reg. No.: |
(Nagoya-Moriyamaku) 054402 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of corrugated cardboard, packaging materials (food,
other) |
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No. of Employees : |
45 |
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 18.3 million |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has overturned his predecessor's plan to
permanently close nuclear power plants and is pursuing an economic revitalization
agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined
the Trans Pacific Partnership negotiations in 2013, a pact that would open
Japan's economy to increased foreign competition and create new export
opportunities for Japanese businesses. Measured on a purchasing power parity
(PPP) basis that adjusts for price differences, Japan in 2013 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 is exceeding 230% of GDP. To
help raise government revenue and reduce public debt, Japan decided in 2013 to
gradually increase the consumption tax to a total of 10% by the year 2015.
Japan is making progress on ending deflation due to a weaker yen and higher
energy costs, but reliance on exports to drive growth and an aging, shrinking
population pose other major long-term challenges for the economy.
|
Source
: CIA |
OKABE KAMIKON CO
LTD
REGD NAME: KK Okabe Kamikon (Kamikon means Paper
Containers)
MAIN OFFICE: 2-14-28 Naeshiro Moriyamaku Nagoya 463-0046
JAPAN
Tel: 052-793-3113
Fax: 052-795-0861
URL: http://www.okabekamicon.co.jp
E-Mail address: (thru the URL)
Mfg of corrugated cardboard, packaging materials (food, other)
Nil
At the caption address, Seto, Aichi; China
SATORU OKABE, PRES Norio
Okada, mgn dir
Miyako Okabe, dir Keiko
Okada, dir
Hitomi Okabe, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,005 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
30 M
TREND UP WORTH Yen 134 M
STARTED 1967 EMPLOYES 45
MFR OF CORRUGATED CARTON, PACKAGING MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 18.3 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Masaaki Okabe in order to make
most of his experience in the subject line of business. Satoru is his son, who took the pres office
in Mar 2011. This is a specialized mfr,
wholly owned by the Okabe families, of packaging materials: corrugated
cardboard & cartons, other. Operates
an mfg factory in China, which supplies the materials to the local market as
well as exports to Japan. Clients
include electronics makers, other.
Financial are only partially disclosed as is the case with family-based
companies.
The sales volume for Mar/2013 fiscal term amounted to Yen 1,005 million,
a 6% up from Yen 945 million in the previous term. The net profit was posted at Yen 24 million,
compared with Yen 70 million a year ago.
For the term that ended Mar 2014 the net profit was projected at Yen 25
million, on a 5% rise in turnover, to Yen 1,050 million. Final results are yet to be released. Demand said increased from pharmaceutical
makers & electronics mfrs.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 18.3 million, on 30 days normal terms.
Date Registered: May 1967
Regd No.: (Nagoya-Moriyamaku) 054402
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders
(%): Masaaki Okabe, Satoru Okabe & families (--100)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
packaging materials: corrugated cardboard & cartons, other (--100%).
Clients: [Mfrs, wholesalers]
Maruei Co (Dept store) (20%), Epson Logistics, Omron Corp, NSP, Panasonic,
Toshiba Logistics, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Maruei Co, NP Trading Co, NSP, Suzuki Shikojo, Stora Enso Japan,
Okabe Engineering, other.
Imports from China (subsidiary maker), other.
Payment record: No complaints
Location: Business area in
Nagoya. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Seto
Shinkin Bank (Omori)
Aichi Bank
(Omori)
Relations:
Satisfactory
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual Sales |
|
1,050 |
1,005 |
945 |
980 |
|
Recur. Profit |
|
.. |
.. |
69 |
.. |
|
Net Profit |
|
25 |
24 |
70 |
-64 |
|
Total Assets |
|
|
N/A |
744 |
N/A |
|
Net Worth |
|
|
134 |
109 |
39 |
|
Capital, Paid-Up |
|
|
30 |
30 |
30 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.48 |
6.35 |
-3.57 |
3.16 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
14.65 |
.. |
||
|
N.Profit/Sales |
2.38 |
2.39 |
7.41 |
-6.53 |
|
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.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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.