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Report No. : |
317040 |
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Report Date : |
15.04.2015 |
IDENTIFICATION DETAILS
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Name : |
KOSAKA LABORATORY LTD |
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Registered Office : |
ProsTech Akihabara 2F, 6-13-10 Sotokanda Chiyodaku Tokyo 101-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
July, 1953 |
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Com. Reg. No.: |
010001070526 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Precision Measuring Equipment, Hydraulic Equipment,
Packaging Machine. |
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No. of Employees : |
192 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limits : |
Yen 175.0 Million |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a
longstanding debate on restructuring the economy and reining in Japan's huge
government debt, which amounts to more than 240% 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 2015, although the government
in 2014 decided to postpone the final phase of the increase until 2017 to give
the economy time to recover from the 2014 increase. 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 |
KOSAKA LABORATORY LTD
REGD NAME: KK
Kosaka Kenkyusho
MAIN OFFICE: ProsTech
Akihabara 2F, 6-13-10 Sotokanda Chiyodaku Tokyo 101-0021 JAPAN
Tel: 03-5812-2081 Fax: 03-5812-2083
URL: http://www.kosakalab.co.jp
E-Mail address: (thru
the URL)
Mfg precision
measuring equipment, hydraulic equipment, packaging machine
Osaka, Nagoya, and
Tochigi
Saitama, Tochigi
YOICHI KOSAKA,
PRES Mamoru
Moriguchi, mgn dir
Kunihiko Yamada,
mgn dir Iichiro Kosaka,
dir
Etsuo Ueno, dir Ksotu
Sakurai, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 4,778 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 270 M
TREND SLOW WORTH Yen
2,122 M
STARTED 1953 EMPLOYES 192
MFR OF INDUSTRIAL EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 175.0
MILLION, ON 30 DAYS NORMAL TERMS.
The subject
company was established by father of Yoichi Kosaka in order to make most of his
experience in the subject line of business. Yoichi took the pres office in Oct
1990. This is a specialized mfr of precision measuring equipment, hydraulic
equipment, automatic machines, semiconductor mfg machines, other (See OPERATION). Goods are exported worldwide.
Financials are
disclosed only partially.
The sales volume for
Mar/2014 fiscal term amounted to Yen 4,778 million, a 9% down from Yen 5,237
million in the previous term. The
recurring profit was posted at Yen 389 million and the net profit at Yen 239
million, respectively, compared with Yen 650 million recurring profit and Yen
397 million net profit, respectively, a year ago.
For the term that
ended Mar 2015 the recurring profit was projected at Yen 700 million and the net profit at Yen 450 million, respectively, on
a 26% rise in turnover, to Yen 6,000 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 175.0 million, on 30 days normal terms.
Date Registered: Jul
1953
Regd No.:
010001070526
(Tokyo-Chiyodaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2.1
million shares
Issued: 540,000
shares
Sum: Yen
270 million
Major
shareholders (%): Tokyo Small & Medium
Business Investment & Promotion Assn (19), Yoichi Kosaka (13), Asahi Life
Ins (10), IHI Corp (7), Mitsubishi Heavy Ind (7), other
No. of shareholders: 140
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures industrial
equipment, other:
Precision
Measuring Equipment (39%): Surface roughness measuring equipment,
three-dimensional roughness measuring instrument, roundness & cylindricity
measuring instrument, contour measuring instrument, roundness measuring instrument,
space coordinates measuring instrument, noncontact micro figure measuring
instrument, VTR related measuring instrument, disc related measuring
instrument, piston automatic measurement related measuring instrument, high
precision rotary stage (air bearing system), various special measuring
equipment, other;
Hydraulic
Equipment (56%): Pumps (lubricant pump, fuel
injection pump, fuel transfer pump, hydraulic pump, cargo pump, stripping pump,
agitation pump, sanitary pump, twin screw extruder, pressure control valves,
other); Pump System (hydraulic
submerged cargo pump system, shield machine rear equipment, tank sludge
discharger, hydraulic system, lubrication system, quantitative filling machine,
other;
Automatic
Machine, Bundling Machine (5%): Automatic
Machine (LD die bonder, PD die bonder, foil cutter, various LED die bonder,
glass scriber, glass breaker, scriber break line, glass chamfering machine
& line; Bundling Machine (tape
bundling machine, side taping machine, film strapping machine, other.
Exports
(33%)
Clients: [Mfrs,
wholesalers] Tokyo Sangyo Co, Tokyo Boeki Techno System, Toyo Corp, Mitsubishi
Corp, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Hasegawa Machinery, Sakae Electronics Corp, Nippon Pillar Packing, Tokyo Keiki
Power Systems Inc, Pulstec Ind, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Mizuho Bank (Ueno)
Tokyo Tomin Bank (Okachimachi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
|
6,000 |
4,778 |
5,237 |
4,777 |
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Recur.
Profit |
|
700 |
389 |
650 |
512 |
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Net
Profit |
|
450 |
239 |
397 |
115 |
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Total
Assets |
|
|
N/A |
N/A |
7,000 |
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Net
Worth |
|
|
2,122 |
2,079 |
1,961 |
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Capital,
Paid-Up |
|
|
270 |
270 |
270 |
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Div.P.Share(¥) |
|
|
50.00 |
50.00 |
40.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
25.58 |
-8.76 |
9.63 |
-2.25 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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|
.. |
.. |
28.01 |
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N.Profit/Sales |
|
7.50 |
5.00 |
7.58 |
2.41 |
Notes: The firm stopped
disclosing full financials as from the Mar/2013 accounting term and are only
partially disclosed.
Forecast (or
estimated) figures for the 31/04/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
|
1 |
Rs.91.60 |
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Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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 |
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-- |
NB |
New Business |
-- |
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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.