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Report Date : |
28.05.2014 |
IDENTIFICATION DETAILS
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Name : |
KANNO KOGYO KK |
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Registered Office : |
907-1 Higashi-Kamachi Yanagawa City Fukuoka-Pref 832-0006 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
December 1961 |
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Com. Reg. No.: |
2900-01-052772 (Fukuoka-Yanagawa) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of fertilizers, veterinary feed, eggs, flour, sugar, fuel
oil |
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No. of Employees |
90 |
RATING & COMMENTS
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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 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
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 |
KANNO KOGYO KK
REGD NAME: Kanno Kogyo KK
MAIN OFFICE: 907-1 Higashi-Kamachi Yanagawa City
Fukuoka-Pref 832-0006 JAPAN
Tel: 0944-73-1333 Fax:
0944-73-1377
*.. The is its branch office
URL: N/A
E-Mail address: kanno`s.eion.ne.jp
Wholesale of fertilizers, veterinary feed, eggs, flour, sugar, fuel oil
Fukuoka (4)
MICHIARI KANNO, PRES
Hideshi Kanno, ch
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 11,881 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 96 M
TREND UP WORTH Yen 987 M
STARTED 1961 EMPLOYES 90
TRADING FIRM SPECIALIZING IN FERTILIZER, ANIMAL FEED, OTHER
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Hideshi Kanno in order to make
most of his experience in the subject line of business. Michiari is his son, who took the pres office
in Mar 2008. This is a trading firm
specializing in fertilizers, animal feeds, eggs, flours, sugar, fuel oil,
other. Goods are imported and
exported. Clients include farm industries,
feed mfrs, other.
The sales volume for Dec/2013 fiscal term amounted to Yen 11,881
million, a 9% up from Yen 10,897 million in the previous term. The recurring profit was posted at Yen 139
million and the net profit at Yen 43 million, respectively, compared with Yen
267 million recurring profit and Yen 29 million net profit, respectively, a
year ago.
For the current term ending Dec 2014 the recurring profit is projected
at Yen 150 million and the net profit at Yen 50 million, respectively, on a 5%
rise in turnover, to Yen 12,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Dec 1961
Regd
No.: 2900-01-052772
(Fukuoka-Yanagawa)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 768,000 shares
Issued:
192,000 shares
Sum:
Yen
96 million
Major
shareholders (%): Hideshi Konno (90)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales fertilizers, animal feed (--50%), chicken eggs (30%), wheat
flour, sugar (--10%), fuel oils, others (--5%)
Clients: [Mfrs, wholesalers]
Aeon Kyushu, other
No. of accounts: 300
Domestic areas of activities: Centered in
Fukuoka-Pref and vicinities
Suppliers: [Mfrs,
wholesalers] Marubeni Nisshin Feed, Nippon Formula Feed Mfg, Nosan Corp,
Kanematsu Corp, Sojitz Kyushu, Ishibashi Kogyo Co, Chubu Shiryo Co, Kyodo
Shiryo Co, other
Payment
record: No Complaints
Location: Business area in
Yanagawa City, Fukuoka-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank
References:
Nishinippon City Bank (Yanagawa)
SMBC (Omuta)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual Sales |
|
12,500 |
11,881 |
10,897 |
11,378 |
|
Recur. Profit |
|
150 |
139 |
267 |
|
|
Net Profit |
|
50 |
43 |
29 |
66 |
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Total Assets |
|
|
6,183 |
5,689 |
5,534 |
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Current Assets |
|
|
4,268 |
4,013 |
|
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Current Liabs |
|
|
3,532 |
2,939 |
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Net Worth |
|
|
987 |
944 |
915 |
|
Capital, Paid-Up |
|
|
96 |
96 |
96 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.21 |
9.03 |
-4.23 |
6.45 |
|
|
Current Ratio |
|
.. |
120.84 |
136.54 |
.. |
|
N.Worth Ratio |
.. |
15.96 |
16.59 |
16.53 |
|
|
R.Profit/Sales |
|
1.20 |
1.17 |
2.45 |
.. |
|
N.Profit/Sales |
0.40 |
0.36 |
0.27 |
0.58 |
|
|
Return On Equity |
.. |
4.36 |
3.07 |
7.21 |
|
Notes: Forecast (or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.06 |
|
UK Pound |
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.80.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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|
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|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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>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 |
|
|
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 |
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|
-- |
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.