|
Report Date : |
30.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
KURIMOTO & CO LTD |
|
|
|
|
Registered Office : |
Kurimoto Sangyo Bldg, 1-4-15 Kyutaromachi Chuoku Osaka 541-0056 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Year of Establishment : |
1963 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, export, wholesale of textiles, raw yarns, sewing equipment, other |
|
|
|
|
No of Employees : |
18 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
KURIMOTO
& CO LTD
Kurimoto Sangyo KK
Kurimoto Sangyo Bldg, 1-4-15 Kyutaromachi
Chuoku Osaka 541-0056 JAPAN
Tel: 06-6271-8131 Fax: 06-6271-8137
URL: http://www.kurimotojp.co.jp
E-Mail address: info@kurimotojp.co.jp
Import, export, wholesale of textiles, raw
yarns, sewing equipment, other
Nil
Hong Kong, China
MIKIEI ISHIDA, PRES
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,945 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 80 M
TREND SLOW WORTH Yen 239 M
STARTED 1963 EMPLOYES 18
TRADING FIRM
SPECIALIZNG IN TEXTILES AND RAW YARNS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject
company was established by Mikiei Ishida in order to make most of his experience
in the subject line of business. This is
a trading firm for import, export and wholesale of textiles, raw yarns, apparel
goods, sewing equipment, drinking water, other.
Exports account for about 70% of total sales. Destinations are: China, S/E Asian countries,
USA, India, other.
Financials are
only partially disclosed.
The sales volume
for Mar/2013 fiscal term amounted to Yen 1,945 million, a 15% down from Yen
2,300 million in the previous term.
Exports were hurt by the high Yen, reducing earnings and profits in Yen
terms. The operations continued in the
red to post Yen 15 million net losses for the term, compared with Yen 30
million net losses a year ago.
For the term that
ended Mar 2014 the operations were projected to come back to profitability but
still limited to a minimum amount post-taxes, on a 3% rise in turnover, to Yen
2,000 million. Final results are yet to
be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date
Registered: 1963
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued:
160,000 shares
Sum:
Yen
80 million
Major shareholders
(%): Mikiei Ishida and
families (--100)
No. of
shareholders: 7
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports, exports
and wholesales tricot fabric, textiles, raw yarns (55%), apparel materials
& accessories, knitted and woven fabrics for inner wear (23%), sewing
machines for hook & eye tape (20%), mineral water (from Fiji), beverages,
others (--2%).
Exports (70%)
Clients: [Mfrs,
wholesalers] Exports to: China, Hong Kong, Thailand, Vietnam, Taiwan, Malaysia,
Philippines, Sri Lanka, South Africa, India, Korea, USA, other.
No. of accounts: Unavailable
Domestic areas of activities: Centered in
greater-Osaka
Suppliers: [Mfrs,
wholesalers] Asahi Kasei Fibers Corp, Fuji Spinning Co, KB Seiren Ltd, Toray
Opelontex Co, Teijin Ltd, Toray Frontier, Toyobo Co, Unitika Co, other
Imports mineral water from Fiji, other.
Payment
record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Semba-Chuo)
Mizuho Bank (Semba)
Relations: Satisfactory
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual
Sales |
|
2,000 |
1,945 |
2,300 |
2,430 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
0 |
-12 |
-30 |
-65 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
239 |
251 |
281 |
|
Capital,
Paid-Up |
|
|
80 |
80 |
80 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.83 |
-15.43 |
-5.35 |
-20.64 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
0.00 |
-0.62 |
-1.30 |
-2.67 |
|
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. 60.52 |
|
|
1 |
Rs. 101.77 |
|
Euro |
1 |
Rs. 83.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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.