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Report Date : |
20.02.2014 |
IDENTIFICATION DETAILS
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Name : |
KUBOTA SHINDOSHO CO LTD |
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Registered Office : |
4721 Tsubame
Niigata-Pref 959-1200 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
January 1964 |
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Com. Reg. No.: |
(Niigata-Tsubame)
003293 |
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Legal Form : |
Limited Company |
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Line of Business : |
Engaged in manufacturing and processing of stainless steel & titanium products including plates, sheets & wires |
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No. of Employees : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
KUBOTA SHINDOSHO CO LTD
KK Kubota
Shindosho
4721 Tsubame
Niigata-Pref 959-1200 JAPAN
Tel:
0256-62-3763 Fax: 0256-66-2261
URL: N/A
Mfg,
processing of stainless steel products
Nil
Niigata
(2)
MOTOO
KUBOTA, PRES
Nobutomo
Murayama, s/mgn dir
Yuko
Murayama, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 570 M
PAYMENTSSlow but Correct CAPITAL Yen 20 M
TREND SLOW WORTH Yen 251 M
STARTED 1964 EMPLOYES 25
MFR OF
STAINLESS STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by father o Motoo Kubota in order to
make most of his experience in the subject line of business. Motoo took the pres office in Jan 1998. This is a specialized mfr & processor,
owned and operated by the Kubota family, of stainless steel products. Goods are exported, starting direct exports.
The sales volume for Dec/2012 fiscal term amounted to Yen 570 million, a
7% down from Yen 614 million in the previous term. Started direct exports but they were hurt by
the high Yen reducing earnings substantially in Yen terms. The recurring profit was posted at Yen 1
million and the net profit at Yen 1 million, respectively, similarly in the
previous term. .
For the term that just ended Dec 2013 the recurring profit was projected
at Yen 3 million and the net profit at Yen 2 million, respectively, on a 5%
rise in turnover, to Yen 600 million.
Weaker Yen may have raised earnings in Yen terms. Final results are yet to be released.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Jan
1964
Regd No.: (Niigata-Tsubame) 003293
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued: 40,000 shares
Sum: Yen 20
million
Major shareholders (%):
Motoo Kubota (60), Toshi Kubota (20), and families (--20)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures and processes stainless
steel & titanium products: plates, sheets, wires, others (--100%)
Clients: [Mfrs,
wholesalers] Shimomura Kogyosho, Koike Kinzoku, Sekikawa Seisakusho, Seki
Kinzoku Kogyo, Sanpoh Bussan, Shinwa Pulse Co, Tatsumiya Kogyo, Seki Metal Ind,
Fujitpra Co, Soft Drinks Asahi, Tsubame Ind, Yamaco, Shinwa Rules Co, other
No. of accounts: 300
Domestic areas of
activities: Centered in Niigata-Pref
Suppliers: [Mfrs,
wholesalers] JFE Shoji Trading, Toyota Tsusho Corp, Okaya & Co, Yamaco,
other
Payment record: Slow but
Correct
Location: Business area in
Tsubame City, Niigata-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank
References:
Shoko Chukin Bank (Niigata)
Hokuetsu Bank (Tsubame)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
Annual
Sales |
|
570 |
614 |
587 |
497 |
|
Recur.
Profit |
|
1 |
1 |
3 |
|
|
Net
Profit |
|
1 |
1 |
2 |
-9 |
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Total
Assets |
|
N/A |
548 |
502 |
469 |
|
Current
Assets |
|
|
445 |
388 |
|
|
Current
Liabs |
|
|
160 |
163 |
|
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Net
Worth |
|
251 |
250 |
249 |
246 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
-7.17 |
4.60 |
18.11 |
-42.87 |
|
|
Current Ratio |
.. |
278.13 |
238.04 |
.. |
|
|
N.Worth Ratio |
.. |
45.62 |
49.60 |
52.45 |
|
|
R.Profit/Sales |
0.18 |
0.16 |
0.51 |
.. |
|
|
N.Profit/Sales |
0.18 |
0.16 |
0.34 |
-1.81 |
|
|
Return On Equity |
.. |
0.40 |
0.80 |
-3.66 |
|
Notes:
Resulted figures for the 31/12/2012 fiscal term, but only partially disclosed.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
|
UK Pound |
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
|
<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.