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Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
KUKITA CO LTD |
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Registered Office : |
Ebina Prime Tower 9F, 2-9-50 Chuo Ebina
Kanagawa-Pref 243-0432 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 (Estimated) |
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Date of Incorporation : |
April 1995 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
importer, Exporter and Wholesaler of Heavy Construction
Equipment such as Bulldozers, Excavators, Rock Splitters & Wheel Loaders |
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No of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
Yen 54.3 Million |
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|
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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 |
|
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 |
KUKITA CO LTD
KK Kukita
Ebina Prime Tower 9F,
2-9-50 Chuo Ebina Kanagawa-Pref 243-0432 JAPAN
Tel:
046-236-2850 Fax: 046236-2870
URL: http://www.kukita.co.jp
E-Mail address: (thru the URL)
importer, Exporter and Wholesaler of Heavy Construction
Equipment such as Bulldozers, Excavators, Rock Splitters & Wheel Loaders
Nil
YASURO
KUKITA, PRES
Yoshiko
Kukita, dir
Mikio
Nonaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,000 M
PAYMENTS Slow
But Correct CAPITAL Yen 10 M
TREND SLOW WORTH Yen
198 M
STARTED 1995 EMPLOYES 15
TRADING FIRM SPECIALIZING IN
HEAVY CONSTRUCTION EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 54.3 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established by Yasujiro Kukita in order to make
most of his experience in the subject line of business. This is a trading firm specializing in heavy
construction equipment: bulldozers, excavators, wheel loaders, rock splitters,
other. Goods are exported mainly to S:/E
Asian countries. Suppliers include major
heavy machinery makers.
Financials are disclosed only partially, and in rounded-off numbers.
The sales volume for Mar/2013 fiscal term amounted to Yen 3,000 million,
a similar amount in the previous term.
The net profit was posted at Yen 1 million, compared with Yen 2 million
a year ago.
For the term that ended Mar 2014 the net profit was projected at Yen 2
million, on a 3% rise in turnover, to 3,100 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 54.3 million, on 30 days normal terms.
Date
Registered: Apr 1995
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Yasujiro Kukita (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of heavy construction equipment: bulldozers,
excavators, rock splitters, wheel loaders, other (--100%)
Clients: Domestic and
overseas mfrs, wholesalers, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in the greater-Tokyo
Suppliers: [Mfrs, wholesalers]
Hitachi Construction Machinery, Caterpillar Japan, Moriya Corp, Komatsu
Construction Equipment Sales & Service Japan Ltd, other
Payment record: Slow But Correct
Location: Business area in
Ebina City, Kanagawa-Pref. Office
premises at the caption address are leased and maintained satisfactory.
Bank
References:
SMBC (Machida)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual
Sales |
|
3,100 |
3,000 |
3,000 |
3,100 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
2 |
1 |
2 |
2 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
198 |
197 |
195 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.33 |
0.00 |
-3.23 |
3.33 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
0.06 |
0.03 |
0.07 |
0.06 |
|
Notes:
Financials are only partially disclosed, and in rounded-off numbers
Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
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.