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Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
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Name : |
YASAKA KOEKI LTD |
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Registered Office : |
2-31-11 Higashimikuni Yodogawaku |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
April 1980 |
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Com. Reg. No.: |
1200-01-058863 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of steel products, sporting goods |
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No. of Employees |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 5.4 million |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
YASAKA KOEKI LTD
REGD NAME: KK
Yasaka Koeki
MAIN OFFICE: 2-31-11
Higashimikuni Yodogawaku
Tel:
06-6395-3461 Fax: 06-6395-1792
E-Mail address: yasaka@skyblue.ocn.ne.jp
Import, export,
wholesale of steel products, sporting goods, other
Nil
KIHACHIRO KISHI,
PRES Kazuko Kishi, v pres
Natsuyo Hori, dir Kiyoyuki Kanda, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 300 M
PAYMENTSREGULAR CAPITAL Yen 10 M
TREND SLOW BUT CORRECT WORTH Yen
16 M
STARTED 1980 EMPLOYES 5
TRADING FIRM SPECIALIZING IN STEEL PRODUCTS, OTHER.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 5.4 MILLION, 30 DAYS
NORMAL TERMS
The subject company was established by Kihachiro Kishi in order to make
most his experience in his over 20 years’ international trading business
experience. This is a trading firm for
import, export and wholesale of steel products, sporting goods, other. In 1980 started to import sporting goods as
agent of MARKWART Sporting Goods Company, USA.
In 1990 started to import and export of steel products, which gradually
increased and now is the firm’s main business line (See OPERATION). Export
destinations are: India, Malaysia, Hong Kong, Taiwan, Pakistan, China,
other. Clients include sporting goods
dealers, wholesalers, other.
Financials are only partially disclosed as is the case with family-based
companies
The sales volume for Dec/2013 fiscal term amounted to Yen 300 million, a
16% down from Yen 360 million in the previous term. Business in China decreased substantially due
to the economic slowdown. The net profit
was posted at Yen 1 million, similarly in the previous term.
For the current term ending Dec 2014 the net profit is projected to mark
time at Yen 1 million, on a 5% rise in turnover, to Yen 315 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is
estimated at Yen 5.4 million, on 30 days normal terms.
Date Registered: Apr 1980
Regd No.:
1200-01-058863
(Osaka-Yodogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major
shareholders (%): Kihachiro Kishi (68), Kazuko Kishi (10), Natsuyo Hori (5), Sadahisa
Kishi (3)
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales steel products (80%), sporting goods, other (--20%)
(Items
handled)
Steel
Products: Prime overruled iron steel (GA, GI & color) or secondary, prime overruled
stainless steel (304, 430, others), or secondary’s, high quality Japanese
scissors for professional hair stylists, other:
Sporting
Goods: Sports cap, training items, baseball gear/items, American football
goods (except uniforms & shoes) from USA, other
Clients: [Mfrs,
wholesalers] Cupie Club, Evernew Co, Sports Takahashi, other.
Exports to; China, Malaysia, India, Taiwan,
Hong Kong, Pakistan, other
No. of accounts:
150
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ishida Engineering Co, Metal One Steel Service, Osaka Stainless
Center, Yamashin Material Co, Tokuyama Kosan Co, Shintomi Iron Mfg Co, Markwort
Co, other
Payment record: Slow but correct
Location: Business area in
Osaka. Office premises at the caption address
are leased and maintained satisfactorily.
Bank References:
SMBC (Juso)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
Annual
Sales |
|
315 |
300 |
360 |
410 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
1 |
1 |
1 |
-2 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
16 |
15 |
14 |
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Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
5.00 |
-16.67 |
-12.20 |
-14.58 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
0.32 |
0.33 |
0.28 |
-0.49 |
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.103.42 |
|
Euro |
1 |
Rs.82.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
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 |
-- |
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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.