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Report Date : |
20.06.2014 |
IDENTIFICATION DETAILS
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Name : |
IDK CORPORATION |
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Registered Office : |
2-9-1 Chuo Yamato City Kanagawa-Pref 242-0021 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
October 1989 |
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Com. Reg. No.: |
0210-01-024837 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of video cable & RGB distribution amplifier, video transmission
system |
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No. of Employees |
80 |
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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Maximum Credit Limit : |
Yen 32.7 Million |
|
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 |
IDK CORPORATION
REGD NAME: KK
I. D. K.
MAIN OFFICE: 2-9-1
Chuo Yamato City Kanagawa-Pref 242-0021 JAPAN
Tel:
045-200-0764 Fax: 045-200-0765
URL: http://www.idk.co.jp
E-Mail address: info_en@idk.co.jp
Mfg of video cable
& RGB distribution amplifier, video transmission system, etc
Osaka, Chiba,
Fukuoka
USA (business
partners)
(subcontracted)
HIDEKI IWASAKI,
PRES
Akira Inageta, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,800 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
80 M
TREND UP WORTH Yen 130 M
STARTED 1989 EMPLOYES 80
MFR OF VIDEO DISTRIBUTION AMPLIFIER, VIDEO
TRANSMISSION
SYSTEMS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was
established by Hideki Iwasaki in order to make most of his experience in the
subject line of business. This is a
trading firm, with mfg division (subcontracted), for import and wholesale of video
cable & RGB distribution amplifiers, video transmission systems, multi
switcher, other (See OPERATION). Goods are imported from USA as a mainline,
and UK, other. Clients include
communication firms, electronics makers, other, nationwide.
Financials are
only partially disclosed.
The sales volume for Sept/2013 fiscal term amounted to Yen 1,800
million, a similar amount in the previous term.
The net profit is estimated posted at Yen 3 million, similarly in the
previous term. Profits are not precisely
disclosed and are only estimated from the sales turnover figures.
For the current term ending Sept 2014 the net profit is projected at Yen
4 million, on a 3% rise in turnover, to Yen 1,860 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 32.7 million, on 30 days normal
terms
Date Registered: Oct
1989
Regd No.:
0210-01-024837 (Kanagawa-Yamato)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 6,400 shares
Issued: 1,600 shares
Sum: Yen 80 million
Major
shareholders (%): Hideki Iwasaki, Hideko Iwasaki (--100)
No.
of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm,
with mfg division, for import and wholesale of: video cable, RGB distribution
simplifier, video transmission system for PC class rooms, Matrix switcher
products, multi switcher, optical extenders, other (--100%)
Clients: [Mfrs,
wholesalers] Daiwabo Information Systems, Canon Sales, Otsuka Corp, Panasonic
Systems Networks, Toshiba Information Equipments Co, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Magenta Research, TKH, Aurote Multimedia, Centurion Technologies,
Raven Research (--USA), Net Support (UK), EnConn (Taiwan), Optics (Korea),
other
Payment record: No complaints
Location: Business area in
Yamato, Kanagawa-Pref. Office premises at
the caption address are owned and maintained satisfactory.
Bank References:
Bank of Yokohama
(Yamato)
Jonan Shinkin Bank
(Yamato)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
Annual
Sales |
|
1,860 |
1,800 |
1,800 |
1,300 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
4 |
3 |
3 |
2 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
130 |
127 |
124 |
|
Capital,
Paid-Up |
|
|
80 |
80 |
80 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.33 |
0.00 |
38.46 |
13.04 |
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Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
0.22 |
0.17 |
0.17 |
0.15 |
|
Notes: Financials
are only partially disclosed. Profits
are estimated.
Forecast (or
estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
|
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.81.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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 |
|
|
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 |
|
|
-- |
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.