|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZENKOH CO LTD |
|
|
|
|
Registered Office : |
Nagahori Shinkosan Bldg 5F, 1-1-4 Kitahorie Nishiku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
February, 1979 |
|
|
|
|
Com. Reg. No.: |
1200-01-044674 (Osaka-Nishiku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, export of surfactant, steel products, machinery, apparel |
|
|
|
|
No. of Employees : |
24 |
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 : |
Slow but correct |
|
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. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 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 exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
|
Source
: CIA |
ZENKOH CO LTD
REGD NAME: KK Zenkoh Shoji
MAIN OFFICE: Nagahori Shinkosan Bldg 5F, 1-1-4 Kitahorie
Nishiku Osaka 550-0014 JAPAN
Tel:
06-6534-1971
Fax: 06-6534-1823
URL: http://www.zenkoh.com
E-Mail address: zenkoh@zenkoh.com
Import, export of surfactant, steel products, machinery, apparel, other
Tokyo, Nagoya, Osaka
Korea, China, Thailand
TOSHIHIRO DANJO, PRES
Toshiyuki Danjo, ch
Masanao Ohba, mgn dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,861 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
35 M
TREND SLOW WORTH Yen 36 M
STARTED 1979 EMPLOYES 24
TRADING FIRM SPECIALIXING IN STEEL PRODUCTS, SURFACTANTS, MACHINERY,
OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Toshiyuki Danjo, now chm, in
order to make most of his experience in the subject line of business. Toshihiro is his son, who took the pres
office in Mar 2013. This is a trading
firm, owned and operated by the Danjo family, for import, export and wholesale
of steel products, surfactant, machinery, apparel, other (See OPERATION). Handles wire-saw, too. Imports from Korea, other. Clients include wire makers, machinery
makers, other
The sales volume for Dec/2012 fiscal term amounted to Yen 1,861 million,
a 57% drop from Yen 3,296 million in the previous term. This is referred to the oversupply of
saw-wire and subsequent price downs. The
operations plunged into the red to register Yen 61 million recurring loss and
Yen 57 million net losses, respectively, compared with Yen 8 million recurring
profit and Yen 13 million net profit, respectively, a year ago.
For the term that ended Dec 2013 the operations were projected to come
back to profitability to post Yen 50 million recurring profit and Yen 25
million net profit, respectively, on a 10% rise in turnover, to Yen 2,050
million. Weaker Yen may have raised
earnings in Yen terms. Final results are
yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Feb 1979
Regd No.: 1200-01-044674 (Osaka-Nishiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
100,000 shares
Issued:
70,000 shares
Sum: Yen 35 million
Major shareholders
(%): Toshiyuki Danjo (40), Yasuyuki Shibatani (20), Toshihiro Danjo (20),
Kayoku Danjo (20)
No. of
shareholders: 4
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales surfactants, steel products, machinery, apparel, other (--100%)
Exports: Surfactants (LO
for wire drawing, detergents, rust-preventive chemicals), machinery (wiring
machinery, electric furnace, other), other
Imports: steel &
stainless products (wires, cords, wire ropes, plates, sheets), apparel
(leather, knitted, furs), beddings, fishing cruiser, other
Clients: [Mfrs,
wholesalers] TKX, Megumi Co, Suncall Corp, Tama Spring, Aichi Hatuzyo Co, Yuki
Seiko, Shibata Spring Mfg Co, Sanwa Mesh Co, other
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kiswire Japan, Cos Japan Co, Kyoeisha Chemical,
Asahi-Seiki Mfg Co, Sanwa Diamond Works, other
Payment record: Slow but correct
Location: Business area in
Osaka. Office premises at the caption address
are leased and maintained satisfactorily.
Bank References:
Kinki Osaka
Bank (Horie)
Ikeda
Senshu Bank (Honmachi)
Relations:
Satisfactory
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual Sales |
|
2,050 |
1,861 |
3,296 |
3,717 |
|
Recur. Profit |
|
50 |
-61 |
8 |
77 |
|
Net Profit |
|
25 |
-57 |
13 |
80 |
|
Total Assets |
|
|
821 |
945 |
1,135 |
|
Current Assets |
|
|
742 |
870 |
1,076 |
|
Current Liabs |
|
|
436 |
417 |
744 |
|
Net Worth |
|
|
36 |
95 |
89 |
|
Capital, Paid-Up |
|
|
35 |
35 |
35 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
10.16 |
-43.54 |
-11.33 |
66.61 |
|
|
Current Ratio |
|
.. |
170.18 |
208.63 |
144.62 |
|
N.Worth Ratio |
.. |
4.38 |
10.05 |
7.84 |
|
|
R.Profit/Sales |
|
2.44 |
-3.28 |
0.24 |
2.07 |
|
N.Profit/Sales |
1.22 |
-3.06 |
0.39 |
2.15 |
|
|
Return On Equity |
.. |
-158.33 |
13.68 |
89.89 |
|
Notes: Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.19 |
|
|
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.74 |
INFORMATION DETAILS
|
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 |
|
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.