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Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
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Name : |
KENKO TOKINA CO LTD |
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Registered Office : |
3-9-19 Nishi-Ochiai Shinjukuku Tokyo 181-0031 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
September 1957 |
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Com. Reg. No.: |
0111-01-024378 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of
cameras, lenses, binoculars |
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No. of Employees : |
270 |
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 |
|
Maximum Credit Limit : |
Yen 566.2 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 |
KENKO TOKINA CO LTD
REGD NAME: KK
Kenko Tokina
MAIN OFFICE: 3-9-19
Nishi-Ochiai Shinjukuku Tokyo 181-0031 JAPAN
Tel:
03-5982-1051 Fax: 03-5982-1057
URL: http://www.kenko-tokina.co.jp
E-Mail
address: (thru the URL)
Import,
export, wholesale of cameras, lenses, binoculars
Sapporo,
Sendai, Osaka, Nagoya, Fukuoka, other (Tot 7)
USA
(2), Philippines (2), China5), Thailand, other (Tot 11)
(subcontracted)
TOHRU
YAMANAKA, PRES Chikara Katoh, dir
Akifumi
Ohno, dir Ryoichi
Kono, dir
Sin’ichi
Enomoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 17,816 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
130 M
TREND UP WORTH Yen 6,505 M
STARTED 1957 EMPLOYES 270
TRADING FIRM SPECIALIZING IN CAMERAS, LENASES, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 566.2 MILLION, 30 DAYS NORMAL TERMS
The subject
company was established by father of Tohru Yamanaka in order to make most of
his experience in the subject line of business.
This is a trading firm, with mfg division, specializing in cameras,
filters, conversion lenses, light meters, binoculars, and other
accessories. Goods re actively imported
& exported. Operates 11 overseas
branch offices. In Jan 2011 merged a
group maker. Clients include electric
home appliances stores, camera shops, other, nationwide.
The sales
volume for Feb/2014 fiscal term amounted to Yen 17,816 million, a 2% up from
Yen 17,540 million in the previous term.
The weaker Yen contributed to raise export revenues in Yen terms. The recurring profit was posted at Yen 367
million and the net profit at Yen 269 million, respectively, compared with Yen
548 million recurring profit and yen 475 million net profit, respectively, a
year ago.
For the current
term ending Feb 2015 the recurring profit is projected at Yen 370 million and
the net profit at Yen 280 million, respectively, on a 3% rise in turnover, to
Yen 18,300 million. Business is seen
expanding steadily.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 566.2 million, on 30 days normal terms.
Date Registered: Sept 1957
Regd No.: 0111-01-024378 (Tokyo-Shinjukuku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen 100 million
Major shareholders (%): Tohru Yamanaka (67.5),
customers S/Holding Assn (26)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales
cameras; interchangeable lenses (25%), optical filters for cameras (20%),
binoculars (15%), tripods for cameras, other accessories (20%)
Clients: [Mfrs, wholesalers] Yodobashi Camera,
Kaga High-Tech Co, Yamada Electric, K’S Holdings, Bic Camera, Sony Corp, Kojima
Co, Kitamura Co, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kenko Corp
Philippines, Kozo Filters, Kenko Optics, Kamakura Koki Co, other
Payment record: No
Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned maintained satisfactorily.
Bank References:
Mizuho
Bank (Yaesuguchi)
MUFG
(Shinjuku)
Relations:
Satisfactory
(in Million Yen)
|
Terms Ending: |
28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
|
|
Annual
Sales |
|
18,300 |
17,816 |
17,540 |
17,034 |
|
Recur.
Profit |
|
370 |
367 |
548 |
634 |
|
Net
Profit |
|
280 |
269 |
475 |
199 |
|
Total
Assets |
|
|
13,522 |
13,780 |
14,698 |
|
Current
Assets |
|
|
6,657 |
6,973 |
7,714 |
|
Current
Liabs |
|
|
5,191 |
5,474 |
6,046 |
|
Net
Worth |
|
|
6,505 |
6,245 |
5,772 |
|
Capital,
Paid-Up |
|
|
130 |
100 |
100 |
|
Div.Ttl
in Million (¥) |
|
|
10 |
10 |
10 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.72 |
1.57 |
2.97 |
62.45 |
|
Current Ratio |
|
.. |
128.24 |
127.38 |
127.59 |
|
N.Worth Ratio |
|
.. |
48.11 |
45.32 |
39.27 |
|
R.Profit/Sales |
|
2.02 |
2.06 |
3.12 |
3.72 |
|
N.Profit/Sales |
|
1.53 |
1.51 |
2.71 |
1.17 |
|
Return On Equity |
|
.. |
4.14 |
7.61 |
3.45 |
Notes:
Forecast (or estimated) figures for the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.99.11 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
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|
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 |
|
|
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 |
|
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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.