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Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TETSUSHO KAYABA CORP |
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Registered Office : |
Kaneyama Bldg 7F, 1-2-12 Shinkawa Chuoku Tokyo 104-0033 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2014 |
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Date of Incorporation : |
February 1957 |
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Com. Reg. No.: |
0117-01-005260 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures & processes steel products |
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No. of Employees |
31 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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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 : |
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
TETSUSHO KAYABA CORP
REGD NAME: Tetsusho
KK
MAIN OFFICE: Kaneyama
Bldg 7F, 1-2-12 Shinkawa Chuoku
Tel:
03-3206-3221 Fax: 03-3206-3633
*.. Registered at:
7-24-17 Matsue Edogawaku Tokyo
URL: http://www.tetsusho.co.jp
E-Mail
address: tetsusho@tetsusho.co.jp
Mfg,
processing, import, export of steel products
Kimitsu
Tokyo
(at the registered address)
Korea,
China, Singapore, Sri Lanka, Indonesia
TSUNEO FUKUDA, PRES Hironori Maruyama, v pres
Norihiro Shukube, s/mgn dir Kazuyuki
Matsumoto, mgn dir
Keita Fukuda, dir Ken’ichi Arai, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 18,130 M
PAYMENTS slow but correct CAPITAL Yen
61 M
TREND SLOW WORTH Yen
1,915 M
STARTED 1957 EMPLOYES 31
MFR, IMPORTER AND EXPORTER OF STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by Keisuke Furuya, as Tetsusho KK, at the registered address
(now Tokyo Factory), for wholesaling steel products. This is a trading firm, with mfg division,
specializing in steel products, such as steel plates, steel sheets, stainless
steel plates, etc. In 1958, founded
Kayaba Trading KK to engage in overseas trading, which the firm absorbed in
1994. Tsuneo Fukuda took the pres office
in 1995. Has processing yards in China,
Sri Lanka and Indonesia. Active in
overseas expansion. Founded a
Singaporean subsidiary in Jul 2007.
Clients are Nippon Steel group & affiliated firms, including major
general trading houses. .
The sales
volume for Jan/20132 fiscal term amounted to Yen 18,130 million, a 1% down from
Yen 18,359 million in the previous term.
The recurring profit was posted at Yen 179 million and the net profit at
Yen 36 million, respectively, compared with Yen 321 million recurring profit
and Yen 117 million net profit, respectively, a year ago
For
the term that ended Jan 2014 the recurring profit was projected at Yen 320 million
and the net profit at Yen 115 million, respectively, on a 3% rise in turnover,
to Yen 18,700 million. The final results
are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Feb 1957
Regd No.: 0117-01-005260 (Tokyo-Edogawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
490,000 shares
Issued:
122,500 shares
Sum: Yen 61.25
million
Major shareholders (%): Tsuneo
Fukuda (26), Nippon Steel Trading Co Ltd (24), Company’s
treasury stock (10), Hironori Maruyama (5), Keita Fukuda (3)
No. of shareholders: 16
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
& processes steel products (--100%):
(Sales breakdown by divisions):
Domestic Sales Div: hot
rolled steel sheets (60%), acid pickling steel sheets (27%),
cold
rolled steel sheets (4%), surface-treated steel sheets (6%), others (3%);
Overseas Sales Div: hot
rolled steel sheets (20%), cold rolled steel sheets (15%), surface-treated
steel sheets (45%), electromagnetic steel sheets (5%), colored steel
sheets
(2%), stainless steel sheets (5%), others (8%).
Products
are manufactured and processed at overseas subsidiary factories and affiliates
in China, Sri Lanka,
Indonesia,
Korea, etc.
Clients: [Mfrs, wholesalers] Nippon Steel
Trading Co, Shinsei Sangyo, Metal One Corp, , Hanwa Corp, Onoken Co, Mitsui
& Co, Summit Steel, Fuji Koeki Ltd, Matex Co, other.
Exports to China, Sri Lanka,
Indonesia, Singapore and other S/E Asian countries.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Steel mills, mfrs, wholesalers]
Nippon Steel Trading, Mitsui & Co, Nittetsu Shoji Coil Center, Nippon
Stainless Shoji, Siam United Steel, Metal One Corp, Hanwa Corp, other.
Imports from China, Sri Lanka,
Indonesia, other.
Payment record: slow
but correct
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Nihombashi-Higashi)
Mizuho
Bank (Shinkawa)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/01/2014 |
31/01/2013 |
31/01/2012 |
31/01/2011 |
|
|
Annual
Sales |
|
18,700 |
18,130 |
18,359 |
17,841 |
|
Recur.
Profit |
|
320 |
179 |
321 |
416 |
|
Net
Profit |
|
115 |
36 |
117 |
178 |
|
Total
Assets |
|
|
6,254 |
6,173 |
6,655 |
|
Current
Assets |
|
|
4,662 |
4,655 |
5,420 |
|
Current
Liabs |
|
|
3,317 |
3,174 |
4,052 |
|
Net
Worth |
|
|
1,915 |
1,900 |
1,804 |
|
Capital,
Paid-Up |
|
|
61 |
61 |
61 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.14 |
-1.25 |
2.90 |
28.85 |
|
|
Current Ratio |
|
.. |
140.55 |
146.66 |
133.76 |
|
N.Worth Ratio |
.. |
30.62 |
30.78 |
27.11 |
|
|
R.Profit/Sales |
|
1.71 |
0.99 |
1.75 |
2.33 |
|
N.Profit/Sales |
0.61 |
0.20 |
0.64 |
1.00 |
|
|
Return On Equity |
.. |
1.88 |
6.16 |
9.87 |
|
Note:
Forecast (or estimated) for the 31/01/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.72 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
|
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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 |
|
|
-- |
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.