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Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
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Name : |
KAGA HIGHTECH CO
LTD |
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Registered Office : |
KSK East Bldg, 3-27-10 Hatchobori Chuoku
Tokyo 104-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 (Estimated) |
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Date of Incorporation : |
November 1947 |
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Com. Reg. No.: |
0100-01-014025 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is a Trading Company for Importer, Exporter and Wholesaler of
Optical Instruments, Instant Cameras, Digital Cameras, PCs & peripherals |
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No of Employees : |
162 |
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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. Prime Minister Shinzo ABE
has declared the economy his government's top priority; he has overturned his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus, monetary easing, and
structural reform. Japan joined the Trans Pacific Partnership negotiations in
2013, a pact that would open Japan's economy to increased foreign competition
and create new export opportunities for Japanese businesses. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2013 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 is
exceeding 230% of GDP. To help raise government revenue and reduce public debt,
Japan decided in 2013 to gradually increase the consumption tax to a total of
10% by the year 2015. Japan is making progress on ending deflation due to a
weaker yen and higher energy costs, but reliance on exports to drive growth and
an aging, shrinking population pose other major long-term challenges for the
economy.
|
Source : CIA |
KAGA HIGHTECH CO LTD
Kaga Hightech KK
KSK East Bldg, 3-27-10
Hatchobori Chuoku Tokyo 104-0032 JAPAN
Tel:
03-5031-0111 Fax: 03-2206-3703
URL: http://www.kagaht.co.jp
E-Mail address: (thru the URL)
Subject is a Trading Company for Importer, Exporter
and Wholesaler of Optical Instruments, Instant Cameras, Digital Cameras, PCs
& peripherals
Osaka,
Nagoya
SHOJI
SEKI, PRES Kazuichiro
Shimoyama, ch
Koji
Matsuda, mgn dir Takeshi
Tsukamoto, mgn dir
Takahide
Sugimoto, dir Yasuhiro
Ishihara, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 28,280 M
PAYMENTS Slow
But Correct CAPITAL Yen 310 M
TREND SLOW WORTH Yen 547 M
STARTED 1947 EMPLOYES 162
TRADING FIRM SPECIALIZING IN
CAMERAS AND OPTICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1947 and in Jan 2008 became a wholly owned subsidiary of Kaga Electronics Co Ltd (See REGISTRATION). This is a trading firm specializing in digital cameras, optical instruments, PCs & peripherals, instant cameras, other. Clients include electronics mfrs, camera mfrs, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 28,280
million, a 30% sharp down from Yen 40,398 million in the previous term. This referred to some items transferred to a
sister company under the leadership of the parent, Kaga Electronics Co Ltd. The
operations continued in the deficit to post Yen 1,093 million recurring loss
and Yen 1,784 million net losses, respectively, compared with Yen 470 million
recurring loss and Yen 664 million net losses, respectively, a year ago.
For the term that ended Mar 2014 the operations were projected to come
back to profitability to post Yen 300 million recurring profit and Yen 150
million net profit, respectively, on a 6% rise in turnover, to Yen 30,000
million. Final results are yet to be
released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Nov 1947
Regd No.: 0100-01-014025 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 2.48
million shares
Issued: 620,000 shares
Sum: Yen 310 million
Major shareholders (%): Kaga Electronics Co Ltd * (100)
*.. Independent
trading company mainly electronic parts products, Tokyo, founded 1968, listed
Tokyo S/E, capital Yen 12,133 million, sales Yen 216,405 million, operating
profit Yen 1,260 million, recurring profit Yen 1,932 million, net profit Yen
444 million, total assets Yen 116,658 million, net worth Yen 50,327 million,
employees 4,783, pres Tomohisa Tsukamoto
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading company
for import, export and wholesale of optical instruments, instant cameras,
digital cameras, PCs & peripherals, other (--100%)
Clients: [Mfrs,
wholesalers] Yodobashi Camera, Kitamura, Bic Camera, Edton, Kojima, Japan Coast
Guard, Metropolitan Police Department, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Panasonic Consumer Marketing, Kodak, Dell, Apple Japan, 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 (Kanda-Ekimae)
SMBC (Nihombashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
30,000 |
28,280 |
40,308 |
50,000 |
|
Recur.
Profit |
|
300 |
-1,095 |
-470 |
|
|
Net
Profit |
|
150 |
-1,784 |
-664 |
10 |
|
Total
Assets |
|
|
7,014 |
11,113 |
11,864 |
|
Current
Assets |
|
|
5,356 |
9,209 |
9,765 |
|
Current
Liabs |
|
|
5,506 |
8,046 |
7,033 |
|
Net
Worth |
|
|
547 |
2,281 |
3,979 |
|
Capital,
Paid-Up |
|
|
310 |
310 |
310 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.08 |
-29.84 |
-19.38 |
-20.00 |
|
|
Current Ratio |
.. |
97.28 |
114.45 |
138.85 |
|
|
N.Worth Ratio |
.. |
7.80 |
20.53 |
33.54 |
|
|
R.Profit/Sales |
1.00 |
-3.87 |
-1.17 |
.. |
|
|
N.Profit/Sales |
0.50 |
-6.31 |
-1.65 |
0.02 |
|
|
Return On Equity |
.. |
-326.14 |
-29.11 |
0.25 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
UK Pound |
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
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.