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Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
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Name : |
KUBOTA KASUI CORPORATION |
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Registered Office : |
Bright East Shibaura 4F, 3-18-21 Kaigan Minatoku Tokyo 108-0022 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
October 2012 |
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Com. Reg. No.: |
0104-01-102178 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is engaged in engineering firm of water & gas
technologies. |
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No. of Employees |
125 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
KUBOTA KASUI CORPORATION
REGD NAME: Kubota
Kasui KK
MAIN OFFICE: Bright
East Shibaura 4F, 3-18-21 Kaigan Minatoku Tokyo 108-0022 JAPAN
Tel:
03-5419-6030 Fax: 03-5419-6031
URL: http://www.ikk.co.jp
E-Mail address: (thru the URL)
Engineering firm
of water & gas technologies
Sendai, Nagano,
Kanagawa, Nagoya, Osaka, Hiroshima, Kumamoto
Taiwan, Malaysia,
Philippines, Thailand, Vietnam, Indonesia
(Group firms)
SATOSHI OKETANI,
PRES Yoshiyuki Soma, dir
Toshihiro
Yamauchi, dir Hiroyuki Ida,
dir
Koichi Uchiyama,
dir Kento Yawata, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR
A/SALES Yen 489 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
400 M
TREND UNDETD WORTH Yen
352 M
STARTED 2012 EMPLOYES 125
ENGINEERING FIRM FOR WATER & GAS TECHNOLOGIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1955 as Shinfuji Kasui
Kogyo KK, and in 2012 when Kubota Corp (See REGISTRATION) absorbed Fuji Kasui Kogyo KK, the firm restarted and
established in that year. This is an
engineering firm for water & gas treatment technologies (see OPERATION). Has overseas offices in: Taiwan, Malaysia,
Philippines, Thailand, Vietnam and Indonesia.
Clients include major mfrs, chemical firms, other
The sales volume for the initial three months that ended Dec/2012
amounted Yen 489 million. The operations
incurred deficit of Yen 1,648 million net losses for the term, due to heavy
investments and materials costs.
For the term that ended Dec 2013 the operations were projected to come
to profitability to post Yen 100 million net profit, on a 15% rise (adjusted on
a 12-month basis) in turnover, at Yen 2,250 million. Final results are yet to be released.
The financial situation is considered FAIR, because of the financial
strength of the parent, Kubota Corp and good for ORDINARY business engagements
Date Registered: Oct 2012
Regd No.:
0104-01-102178
(Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 32,000
shares
Issued: 8,000
shares
Sum: Yen
400 million
Major
shareholders (%): Kubota Corp* (100)
*.. Largest mfr of
farm equipment and cast-iron pipes, Osaka, founded 1930, listed Tokyo S/E,
capital Yen 84,070 million, sales Yen 1,167,628 million, operating profit Yen
113,161 million, recurring profit Yen 120,463 million, net profit Yen 73,688
million, total assets Yen 1,929,014 million, net worth Yen 870,757 million,
employees 32,943, pres Yasuo Masumoto
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Engineering
firm: water technologies (inorganic & organic waste water treatment, water
make-up, recovery water of valuable elements, waste volume reduction, other);
gas technologies (flue gas desulfurization system, harmful gas treatment
system, other). (--100%)
Clients: [Mfrs, wholesalers]
Shinko Electric Ind, Oriental Yeast Co, Toppan Printing, Yamaha Motor,
other,
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toa DKK, Nichigoh Kyushu, Kyowa Sogo Co, Kamiyama Kasei, Howa
Densan, Iwaki Kasui Co, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (Gotanda)
Mizuho Bank
(Gotanda)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
|
|
Annual
Sales |
|
2,250 |
489 |
|
Recur.
Profit |
|
|
|
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Net
Profit |
|
100 |
-1,648 |
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Total
Assets |
|
|
3,092 |
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Current
Assets |
|
|
2,328 |
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Current
Liabs |
|
|
2,445 |
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Net
Worth |
|
|
349 |
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Capital,
Paid-Up |
|
|
400 |
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Div.P.Share(¥) |
|
|
0.00 |
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<Analytical Data> |
(%) |
(%) |
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S.Growth Rate |
15.03 |
- - - |
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Current Ratio |
.. |
95.21 |
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N.Worth Ratio |
.. |
11.29 |
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R.Profit/Sales |
.. |
.. |
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N.Profit/Sales |
4.44 |
-337.01 |
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Notes: The
31/12/2012 is the initial accounting term for 3 months from the inception.
Forecast (or estimated) figures for the 31/12/2013 fiscal term. The growth rate is adjusted on a 12-month
basis
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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 |
|
|
-- |
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.