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Report Date : |
22.01.2014 |
IDENTIFICATION DETAILS
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Name : |
RYOKOSHA CO LTD |
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Registered Office : |
KR Toyosu Bldg 1F, 5-4-9Toyosu Kotoku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
August 1950 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale o optical
precision instruments |
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No. of Employees : |
110 |
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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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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 |
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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. 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 |
RYOKOSHA CO LTD
REGD NAME: KK
Ryokosha
MAIN OFFICE: KR
Toyosu Bldg 1F, 5-4-9Toyosu Kotoku Tokyo 135-0061
Tel:
03-5548-0211 Fax: 03-5548-0210
URL: http://www.ryokosha.co.jp
E-Mail address: (thru the URL)
mport, export,
wholesale o optical precision instruments
Sendai, Nagano,
Osaka, Nagoya, other (Tot 10)
Thailand, Vietnam,
China (3)
(partners/agents)
NAOTAKE OGURA,
PRES
Masakazu Shimada,
mgn dir
Hisao Ogura, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 8,604 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 90 M
TREND SLOW WORTH Yen 934 M
STARTED 1959 EMPLOYES 110
TRADING FIRM SPECIALIZING IN OPTICAL PRECISION INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1947 by Takeo Okura,
who had been working for Mitsubishi Heavy Ind, and started selling heavy
industrial equipment. In the 1950’s, the
founder’s brother, who worked at Nippon Kogakku (now Nikon) informed him that
Nikon was looking for dealers for on of its new projectors, and the subject
became a retailer for the product. Thus
the company became a partner with leaders in the optical and precision
measurement equipment fields and changed to a trading company specializing in
optical equipment. Acts as regular sales
agent for Nikon, Canon, Olympus, other optical makers. Has overseas offices in Thailand, Vietnam and
China (3).
The sales volume for Mar/2013 fiscal term amounted to Yen 8,604 million,
a 9% down from Yen 9,478 million in the previous term. The recurring profit was posted at Yen 13
million and the net profit at Yen 101 million, respectively, compared with Yen
52 million recurring profit and yen 1,801 million net losses, respectively, a
year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 20 million and the net profit at Yen 110 million, respectively, on a 3%
rise in turnover, to Yen 8,865 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Aug
1950
Regal Status: Limited Company (Kabushiki Kaisha)
Authorized: 720,000 shares
Issued: 180,000 shares
Sum: Yen 90 million
Major
shareholders (%): Naotake Ogura (32), Masayuki Fukui (12), Kumiko Komatsu (6), Shihoko
Ogura (5), Hisao Ogura (3)
No. of shareholders: 55
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales optical measuring instruments: optical CD measuring systems,
final vision inspection system, telecomparator, lense reduced-projection
aligner, non-contact 3D measuring device, other (--100%)
Clients: [Mfrs, wholesalers]
Panasonic Corp, Canon Ink, Toshiba Corp, Rohm Co, Nichia Corporation,
other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Olympus Corp, Nikon Corporation, Kosaka Inc, Sigma Koki Co,
Hamamatsu Photonics KK, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References: MUFG
(Nihonbashi-Chuo)
Resona Bank
(Tokyo-Chuo)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
8,865 |
8,604 |
9,478 |
9,759 |
|
Recur.
Profit |
|
20 |
13 |
52 |
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Net
Profit |
|
110 |
101 |
-1,801 |
-419 |
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Total
Assets |
|
|
6,871 |
9,096 |
10,471 |
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Current
Assets |
|
|
3,687 |
4,472 |
|
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Current
Liabs |
|
|
3,945 |
4,895 |
|
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Net
Worth |
|
|
934 |
765 |
2,635 |
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Capital,
Paid-Up |
|
|
90 |
90 |
90 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.03 |
-9.22 |
-2.88 |
1.13 |
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Current Ratio |
|
.. |
93.46 |
91.36 |
.. |
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N.Worth Ratio |
.. |
13.59 |
8.41 |
25.16 |
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R.Profit/Sales |
|
0.23 |
0.15 |
0.55 |
.. |
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N.Profit/Sales |
1.24 |
1.17 |
-19.00 |
-4.29 |
|
|
Return On Equity |
.. |
10.81 |
-235.42 |
-15.90 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.54 |
|
|
1 |
Rs.101.08 |
|
Euro |
1 |
Rs.83.38 |
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 |
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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 |
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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.