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Report Date : |
24.04.2014 |
IDENTIFICATION DETAILS
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Name : |
KYODO CO INC |
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Registered Office : |
First Semba Bldg 1001, 2-6-5 Minamihonmachi Chuoku Osaka 541-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
September, 1977 |
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Com. Reg. No.: |
(Osaka-Chuoku) 078101 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of iron/steel products |
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No. of Employees : |
11 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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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 |
KYODO CO INC
REGD NAME: KK Kyodo Bussan Boeki
MAIN OFFICE: First Semba Bldg
1001, 2-6-5 Minamihonmachi Chuoku
Osaka 541-0054 JAPAN
Tel:
06-6244-9381
Fax: 06-6244-9536
URL: N/A
Export of iron/steel products
Nil
NORIHISA KIMURA, PRES
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,500 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
10 M
TREND SLOW WORTH Yen 2,145 M
STARTED 1977 EMPLOYES 11
EXPORTER OF STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established by Norihisa
Kimura in order to make most of his experience in the subject line of
business. This is a trading firm, owned
& operated by Kimura families, for export of iron & steel products. Exports to Asian countries: Malaysia, Hong
Kong, Thailand, Indonesia, Singapore, other
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Mar/2013 fiscal term amounted to Yen 6,500 million,
a similar amount in the previous term.
The net profit was posted at Yen 120 million, compared with Yen 110
million a year ago.
For the term that ended Mar 2014 the net profit was projected at Yen 130
million, on a 5% rise in turnover, to Yen 6,800 million. Final results are yet to be released.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Sept 1977
Regd No.:
(Osaka-Chuoku) 078101
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders
(%):
Norihisa Kimura (100)
Nothing detrimental is known as to his commercial morality.
Activities: Exports iron
& steel products: galvanized steel sheets (tin, zinc), tin plates, tinned
strips & hoops, others (--100%)
Clients: [Mfrs,
wholesalers] Exports to: Malaysia, India, Hong Kong, Thailand, Indonesia,
Singapore, Vietnam, Bangladesh, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Sojitz Corp, Toyota Tsusho Corp, Mitsui
& Co, Mitsubishi Corp, Marubeni Corp, Shimabun
Corp, other
Payment record: No complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Midosuji)
MUFG (Semba-Chuo)
Relations:
Satisfactory
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual Sales |
|
6,800 |
6,500 |
6,500 |
6,500 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
130 |
120 |
110 |
120 |
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Total Assets |
|
|
N/A |
N/A |
N/A |
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Net Worth |
|
|
2,145 |
2,061 |
1,984 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.62 |
0.00 |
0.00 |
-7.14 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
|
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N.Profit/Sales |
1.91 |
1.85 |
1.69 |
1.85 |
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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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
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.