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Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
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Name : |
KUROS INTERNATIONAL INC |
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Registered Office : |
2-1-15-303 Nishiochiai Shinjukuku |
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Country : |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
July 2008 |
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Com. Reg. No.: |
0111-01-049870
(Tokyo-Shinjukuku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is a travel agency for arranging flights, personal/group tours, studies abroad, market research, corporate visits, trade fair visits & business trips abroad |
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No. of Employees : |
03 |
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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Maximum Credit Limit : |
Yen 2.7 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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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
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 |
KUROS INTERNATIONAL INC
KK Kuros
International
2-1-15-303
Nishiochiai Shinjukuku Tokyo 161-0031 JAPAN
Tel:
03-5988-9870 Fax: 03-5988-9871
URL: http://www.kuros-iternational.jp
E-Mail address: (thru the URL)
Travel
agency
Nil
USA,
Canada
NAOYA
FUKUDA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 150 M
PAYMENTSSlow but Correct CAPITAL Yen 9 M
TREND UP WORTH Yen 26 M
STARTED 2008 EMPLOYES 3
TRAVEL AGENCY.
FINANCIAL SITUATION CONSIDERED RARHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 2.7 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Naoya Fukuda in order to make most of his experience in the subject line of business. This is a travel agency, having offices in USA and Canada, for arranging flights, personal/group tours, studies abroad, market research, corporate visits, trade fair visits & business trips abroad. Clients include business firms, individual persons, other
Financials are only partially disclosed.
The sales volume for Jun/2013 fiscal term amounted to Yen 150 million, a 50% up from Yen 100 million in the previous term. Handled and arranged a large group tours during the term, utilizing its offices in USA & Canada. The profits are estimated posted at Yen 10 million, compared with Yen 5 million a year ago. Profits are not precisely disclosed and are only estimated.
For the current term ending Jun 2014 the net profit is projected at Yen 11 million, on a 7% rise in turnover, to Yen 160 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Mac credit limit is estimated at Yen 2.7 million, on 30 days normal terms.
Date Registered: Jul
2008
Regd No.: 0111-01-049870 (Tokyo-Shinjukuku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
7,200 shares
Issued:
1,800 shares
Sum: Yen 9 million
Major shareholders (%): Naoya Fukuda (100)
Nothing
detrimental is known as to his commercial morality.
Activities: Travel agency for arranging: flight schedule, optional/group/individual tours overseas, overseas business trips, corporate visits, inspect industries, trade fair/exhibition visits, studies abroad (short/long term), home stays, other (--100%)
Clients: Business firms, individuals, groups, other
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: Travel agency, hotels, municipal offices, other
Payment record: Slow but Correct
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Higashi-Nagasaki)
Relations:
Satisfactory
(In
Million Yen)
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Terms Ending: |
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30/06/2014 |
30/06/2013 |
30/06/2012 |
30/06/2011 |
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Annual
Sales |
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160 |
150 |
100 |
90 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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11 |
10 |
5 |
5 |
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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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26 |
16 |
11 |
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Capital,
Paid-Up |
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9 |
9 |
9 |
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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 |
6.67 |
50.00 |
11.11 |
5.88 |
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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 |
6.88 |
6.67 |
5.00 |
5.56 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/06/2014 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.99 |
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UK Pound |
1 |
Rs.104.61 |
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Euro |
1 |
Rs.86.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.