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Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
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Name : |
KANAI JUYO KOGYO CO LTD |
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Registered Office : |
1-2-9 Dojima Kitaku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May 1943 |
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Com. Reg. No.: |
1400-01-070209 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of textile machinery parts, non-woven
fabrics |
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No. of Employees : |
207 |
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 : |
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 – 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 |
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High |
B2 |
|
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.
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
KANAI JUYO KOGYO CO
LTD
REGD NAME: Kanai Juyo Kogyo KK
MAIN OFFICE: 1-2-9 Dojima Kitaku Osaka 530-0003 JAPAN
Tel: 06-6346-1471 Fax: 03-6346-0621
*.. Registered at: 4-1 Okuhata Itami Hyogo-Pref
URL: http://www.kanaijuyo.co.jp
E-Mail address: s-sales@kanaijuyo.co.jp
Mfg of textile machinery parts, non-woven fabrics
Tokyo, Nagoya
USA, China
Itami, Takarazuka (--Hyogo-Pref)
HIROAKI KANAI, PRES Hiromi Kanai, ch
Yasuhiro Mimura, mgn dir Satoru Taoka, dir
Takahisa Adachi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,339 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 467 M
TREND STEADY WORTH Yen 5,970 M
STARTED 1943 EMPLOYES 207
MFR SPECIALIZING IN TEXTILE MACHINERY PARTS & NON-WOVEN FABRICS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1894 by Kumakichi Kanai for making metal travelers, on his account. Incorporated in 1943 the firm has been succeeded by the founder’s descendants. This is a top maker of textile machine parts (See OPERATION). Also manufactures non-woven fabrics used in air-conditioning & automobile industries. Operates a hotel in Arima Hot Spa. Products are also exported.
The sales volume for Mar/2013 fiscal term amounted to Yen 6,339 million, an 8% up from Yen 5,846 million in the previous term. The recurring profit was posted at Yen 232 million and the net profit at Yen 187 million, respectively, compared with Yen 468 million recurring profit and Yen 90 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 240 million and the net profit at Yen 190 million, respectively, on a 4% rise in turnover, to Yen 6,600 million. Business is steadily expanding.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May 1943
Regd No.: 1400-01-070209 (Hyogo-Itami)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 37 million shares
Issued: 9.34 million shares
Sum: Yen 467 million
Major shareholders (%): Hiromi Kanai (39), Hiroaki Kanai (35)
No. of shareholders: 71
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures textile machine parts (36%), non-woven fabrics (55%), hotel owning & management, others (9%). (Export 28%)
(Mfg items):
Textile Machinery Parts: Spinning (cotton, synthetic fibers), worsted spinning, synthetic fiber spinning, other auxiliary parts, woolen, waste woolen, twisted yarns, blended yarns, glass fibers, tire cords, stretched yarns, cotton treatment, metallic card clothing for non-woven fabrics, raising and surface processing, other;
Non-Woven Fabrics: filters, automobiles, clothing consumer products, abrasives, functional materials, other.
Clients: [Auto makers, other mfrs] Toyota Motors, Nitta Haas Inc, Shinwa Corp, Montero Co Ltd, Gunze Ltd, Kure Grinding Wheel, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [mfrs, wholesalers] Tokusen Co Ltd (10%), NI Teijin Shoji, Unitika Corp, Teijin Fiber, Sojitz Corp, other
Payment record: Slow but correct
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References: MUFG (Osaka)
Mitsubishi UFJ Trust Bank (Osaka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
6,600 |
6,339 |
5,846 |
5,624 |
|
Recur.
Profit |
|
240 |
232 |
468 |
480 |
|
Net
Profit |
|
190 |
187 |
90 |
414 |
|
Total
Assets |
|
|
12,832 |
12,768 |
13,010 |
|
Current
Assets |
|
|
3,026 |
3,019 |
3,424 |
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Current
Liabs |
|
|
2,567 |
2,415 |
2,604 |
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Net
Worth |
|
|
5,970 |
5,860 |
5,832 |
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Capital,
Paid-Up |
|
|
467 |
467 |
467 |
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Div.Ttl
in Million (¥) |
|
|
41 |
61 |
41 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.12 |
8.43 |
3.95 |
10.88 |
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Current Ratio |
|
.. |
117.88 |
125.01 |
131.49 |
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N.Worth Ratio |
.. |
46.52 |
45.90 |
44.83 |
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R.Profit/Sales |
|
3.64 |
3.66 |
8.01 |
8.53 |
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N.Profit/Sales |
2.88 |
2.95 |
1.54 |
7.36 |
|
|
Return On Equity |
.. |
3.13 |
1.54 |
7.10 |
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Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Report
Prepared by : |
NNA |
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 |
|
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 |
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-- |
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.