. MIRA INFORM REPORT
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Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
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Name : |
KYOEI CO LTD |
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Registered Office : |
615-1 Horai Nishiku Saitama 331-0073 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
March, 1970 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is engaged in Manufacturing (Processing) used clothing, import
of wiping rags |
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No. of Employees : |
131 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
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Source
: CIA |
KYOEI CO LTD
REGD NAME: Kyoei Sen’I KK
MAIN OFFICE: 615-1 Horai Nishiku Saitama 331-0073 JAPAN
Tel:
048-624-1122
Fax: 048-622-5117
URL: http://www.kyoei-japan.com
E-Mail address: (thru the URL)
Mfg (Processing) used clothing, import of wiping rags
Saitama (3), Chiba (--shops)
Inchon (Korea)
At the caption address, Saitama, Inchon (Korea)
ATSUSHI YAZAKI, PEWA
Koji Ishida, dir
Ryo Yazaki, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,400 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
20 M
TREND UP WORTH Yen 56,000 M
STARTED 1970 EMPLOYES 131
TRADING FIRM, WITH MFG DIVISION, SPECIALIZING IN USED CLOTHES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by father of Atsushi Yazaki in order
to make most of his experience in the subject line of business. Atsushi took the pres office in Dec
2004. This is a trading firm, with mfg
division, specializing in used clothes, wiping rags, other. Has mfg factory in Inchon (Korea). Exports about 1,200 tons used clothes on
average a month to Asia, Africa, other.
Imports various types of wiping rags from Europe USA & Asia. Used clothes are processed into wiping rags
at own factories and Korea.
Financials are only partially disclosed.
The sales volume for Mar/2013 fiscal term amounted to Yen 1,400 million,
an almost similar amount of Yen 1,407 in the previous term. The net profit is posted at Yen 2,500
million, compared with Yen 2,583 million a year ago.
For the current term ending Mar 2014 the net profit is projected at Yen
2,600 million, on a 5% rise in turnover, to Yen 1,470 million. Weaker Yen may help raise export revenues in
Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar
1970
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued:
40,000 shares
Sum: Yen 20 million
Major shareholders
(%): Hisako Yazaki, Jun Yazaki (breakdown not disclosed)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading firm,
with mfg division, specializing for export of used clothes (about 1,200 tons
average per month), import of wiping rang; used clothes are processed into
wiping rags at its own factories including Korea (--100%)
Clients: [Mfrs,
wholesalers] Hokuto Shoji Corp, Kyoei Waste Rags, Kyoei Bintage, Nippon Steel
& Sumikin Metal Corp, East Japan Railway, Hitachi Ltd, ANA Airways, Honda
Motor, Japan Self Defense Forces, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kimura Sen’I, Ishihara Shigyo KK, Municipal Offices, other.
Payment record: No complaints
Location: Business area in
Saitama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Omiya)
Musashino
Bank (Sashiogi)
Relations:
Satisfactory
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Terms Ending: |
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31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual Sales |
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1,470 |
1,400 |
1,407 |
1,301 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
2,600 |
2,500 |
2,583 |
2,278 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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|
56,000 |
53,417 |
50,834 |
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Capital, Paid-Up |
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|
20 |
20 |
20 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.00 |
-0.50 |
8.15 |
-7.14 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
176.87 |
178.57 |
183.58 |
175.10 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
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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 |
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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.