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Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
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Name : |
KONDO MACHINE WORKS CO LTD |
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Registered Office : |
6-98 Mori Toyokawa City Aichi-Pref
442-0846 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2013 |
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Date of Incorporation : |
August 1959 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of machine tools |
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No. of Employees |
105 |
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 |
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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 – 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 |
|
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 |
KONDO MACHINE WORKS CO LTD
REGD NAME: KK
Kondo
MAIN OFFICE: 6-98
Mori Toyokawa City Aichi-Pref 442-0846 JAPAN
Tel:
0533-88-8200 Fax: 0533-88-8206
*.. Registered at: 91
Nakanotsubo Hanadacho Toyohashi City Aichi-Pref, as
given
URL: http://www.gr-kondo.co.jp
E-Mail address: (thru the URL)
Mfg of machine
tools
Toyohashi
Korea, Thailand,
Indonesia
At the caption
address
KENJI KONDO, PRES Toshiro Ito, dir
Yoshiji Oda, dir Shiro Osuka, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,099 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
19 M
TREND SLOW WORTH Yen 970 M
STARTED 1959 EMPLOYES 105
MFR OF MACHINE TOOLS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established originally in 1951 and was
incorporated in 1959. This is a
specialized mfr of machine tools: cylinder grinding machines, hydromantic
bearing, hydrostatic pressure bearing, other.
Products are widely exported to overseas markets. Operates 3 overseas branch offices: Korea and
Thailand (2)
Financials are only partially disclosed for the Jul 2013 fiscal term.
The sales volume for Jul/2013 fiscal term amounted to Yen 2,099 million,
a 10% down from Yen 2,341 million in the previous term. High Yen hurt exports, reducing earnings much
in Yen terms. The operations, however,
came to profitability to post Yen 37 million net profit, compared with Yen 39
million recurring loss and Yen 32 million net losses, respectively, a year ago.
For the current term ending Jul 2014 the net profit is projected at Yen
40 million, on a 5% rise in turnover, to Yen 2,200 million. Weaker Yen may send export earnings up.
The financial situation is considered FAIR
and good for ORDINARY business
engagements.
Date Registered: Aug 1959
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 96,000 shares
Issued: 38,300 shares
Sum: Yen 19.15 million
Major shareholders (%): Kenji Kondo (25),
Yoshiyasu Kondo (8), Yoshifumi Kondo (7)
No. of shareholders: 22
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
machine tools: cylinder grinding machines, hydromantic bearing, hydrostatic
pressure bearing, other (--100%)
Clients: [Mfrs,
wholesalers] Sumitomo Corp, Asian Seiki, Bridgestone Corp, Canon Electronics,
Fuji Machinery, Ricoh Co, Sony Corp, Suzuki Motor, Toshiba Corp, LG
Electronics, Yamasen Corp, other
Exports to: USA, China, Europe, S/E Asia,
Africa, other, to over 30 countries
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kyowakoki Co, Fanuc Corp, Marposs SPA, Sanei Shouji Co, Shibata
Electric Works, Chuo Koki Co, other
Payment record: No complaints
Location: Business area in
Toyokawa City, Aichi-Pref. Office
premises at the caption address are owned and maintained satisfactory.
Bank References:
Bank of Nagoya
(Toyohashi)
Toyokawa Shinkin
Bank (Toyohashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/07/2014 |
31/07/2013 |
31/07/2012 |
31/07/2011 |
|
Annual
Sales |
|
2,200 |
2,099 |
2,341 |
2,993 |
|
Recur.
Profit |
|
.. |
.. |
-39 |
23 |
|
Net
Profit |
|
40 |
37 |
-32 |
15 |
|
Total
Assets |
|
|
N/A |
2,387 |
2,344 |
|
Net
Worth |
|
|
970 |
935 |
970 |
|
Capital,
Paid-Up |
|
|
19 |
19 |
19 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.81 |
-10.34 |
-21.78 |
73.31 |
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Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
39.17 |
41.38 |
||
|
N.Profit/Sales |
1.82 |
1.76 |
-1.37 |
0.50 |
|
Notes: Financials
are only partially disclosed for the 31/07/2013 fiscal term.
Forecast (or
estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.01 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
|
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 |
|
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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.