|
Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
KANEMATSU TRADING CORPORATION |
|
|
|
|
Registered Office : |
Akebono Nihombashi Bldg 5F, 19-5 Nihombashi-Koamicho Chuoku Tokyo 103-0016 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
December 1970 |
|
|
|
|
Com. Reg. No.: |
0100-01-013863 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Import, export, wholesale of
steel products, steel raw materials, stainless steel products, steel structures |
|
|
|
|
No. of Employees : |
80 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 |
KANEMATSU TRADING
CORPORATION
REGD NAME: Kanematsu Trading KK
MAIN OFFICE: Akebono Nihombashi Bldg 5F, 19-5 Nihombashi-Koamicho Chuoku Tokyo
103-0016 JAPAN
Tel: 03-5860-2200 Fax: 03-5808-2321
URL: http://www.nik.e-kgt.com
E-Mail address:sumiko_tomari@kgt-kanematsu.co.jp
Import, export, wholesale of steel
products, steel raw materials, stainless steel products, steel structures
Osaka, Sapporo
TOMOFUSA EMI, PRES Shigeru Takeda, mgn dir
Kunio Mori, dir Michio Nakano, dir
Takeshi Gunji, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 35,300 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 260 M
TREND SLOW WORTH Yen 1,022 M
STARTED 1970 EMPLOYES 80
TRADING HOUSE FOR IMPORT, EXPORT
AND WHOLESALE OF STEEL & STAINLESS STEEL PRODUCTS, WHOLLY OWNED BY
KANEMATSU CORPORATION.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDIANRY
BUSINESS ENGAGEMENTS.
The subject company was
established by Shingo Mochizuki as Nikko Boeki KK for exporting specialty steel
products. In 1995, Kanematsu Corp (See REGISTRATION) acquired 100% of the
share and made it a wholly owned subsidiary.
In Oct 2006 merged into Kanematsu Trading Corporation. This is a trading firm specializing in
import, export and wholesale of specialty steel products, stainless steel
products, steel-making raw materials, construction materials, others. Offers construction works, too.
The
sales volume for Mar/2013 fiscal term amounted to Yen 35,300 million, a 14%
down from Yen 40,814 million in the previous term. Construction industry was slow to recover
from the North Japan Earthquake. Exports
were hurt by the high Yen, reducing revenues in Yen terms. The recurring profit was posted at Yen 200
million and the net profit at Yen 144 million, respectively, compared with Yen
180 million recurring profit and Yen107 million net profit, respectively, a
year ago.
For the current term ending Mar
2014 the recurring profit is projected at Yen 210 million and the net profit at
Yen 150 million, respectively, on a 5% rise in turnover, to Yen 37,000
million. Weaker Yen will contribute to
increase revenues & profits in Yen terms.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1970
Regd No.: 0100-01-013863 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.6 million shares
Issued: 520,000 shares
Sum: Yen 260 million
Major shareholders (%):
Kanematsu Corporation*(100)
*..Specialized trading house of
foods & IT-related business, Tokyo, founded 1918 (originally as textile merchant in Osaka),
listed Tokyo S/E, capital Yen 27,781 million,
turnover Yen 1,019,232 million, operating profit Yen 18,262 million, recurring
profit Yen 16,705 million, net profit Yen 9,564 million, total assets Yen
398,122 million, net worth Yen 63,858 million, employees 5,522, pres Masayuki
Shimojima
Nothing detrimental is known as to
the commercial morality of executives.
Activities: Imports,
exports and wholesales special steel products (100%):
(Handling Items):
Flat Products: stainless
steel coils/sheets & plates, all flat rolled products for various use, high
nickel & titanium products, clad plates;
Rolls & Components:
various kinds of mill rolls, machine & parts for steel mills, components
for cars, agricultural & various machinery, cast & forged products;
Tubular & Long Products: specialty steel seamless and welded pipers & tubes,
non-ferrous copper alloy tubes, stainless steel bars in various shapes, wire
rods & wires, high alloy items including pipes, tubes & bars;
Specialty Steel: alloy
steel, tool steel, bearing steel, high speed steel items, welding consumables
in all grades.
Clients: [Mfrs,
wholesalers] Kyowa Steel, Mukoyama Steel, Itoi Shoji, Taiyo Bussan
Kaisha, Kyoei Steel, Nitoh Rail
Co, Nodaki KK, Tanaka Tekko Hambai, Nakayama Steel
Works, H&CS Holdings Pte Ltd,
Daiwa Steel, Kanematsu Corp, Kubota Corp, other.
Exports to India, USA, Australia,
Peru, Pakistan, Thailand, Taiwan, Indonesia, Egypt, Russia as main markets,
including other worldwide destinations
in over 27 countries.
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Nippon Steel & Sumitomo Metal Corp, Kanematsu Corp, Nisshin Steel, Sangyo Metal Ind, Aichi Steel,
Kobe Steel, Nippon Metal Ind, Nakayama
Steel Works, Daiwa Steel, Nabesho
Co, Azuma Metal Co, Maruichi Steel Tube Ltd, JFE
Bars & Shapes Corp, other
Payment record: slow
but correct
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References: Mizuho Bank (Tokyo)
MUFG
(H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
37,000 |
35,300 |
40,814 |
40,069 |
|
Recur. Profit |
|
210 |
200 |
180 |
155 |
|
Net
Profit |
|
150 |
144 |
107 |
75 |
|
Total
Assets |
|
|
11,062 |
12,615 |
11,641 |
|
Current
Assets |
|
|
10,036 |
11,275 |
10,224 |
|
Current
Liabs |
|
|
10,004 |
11,247 |
9,095 |
|
Net Worth |
|
|
1,022 |
926 |
896 |
|
Capital,
Paid-Up |
|
|
260 |
260 |
260 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.82 |
-13.51 |
1.86 |
6.38 |
|
|
Current Ratio |
.. |
100.32 |
100.25 |
112.41 |
|
|
N.Worth Ratio |
.. |
9.24 |
7.34 |
7.70 |
|
|
R.Profit/Sales |
0.57 |
0.57 |
0.44 |
0.39 |
|
|
N.Profit/Sales |
0.41 |
0.41 |
0.26 |
0.19 |
|
|
Return On Equity |
.. |
14.09 |
11.56 |
8.37 |
|
Notes: Forecast (or estimated) for
the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.