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Report No. : |
306517 |
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Report Date : |
03.02.2015 |
IDENTIFICATION DETAILS
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Name : |
K I TECH INTERNATIONAL CO LTD |
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Registered Office : |
Daiichi Inaho Bldg 303, 4-1-26Kudan-Kita
Chiyodaku Tokyo, 102-0073 |
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Country : |
Japan |
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Date of Incorporation : |
November 1996 |
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Com. Reg. No.: |
0100-01-090642 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is import, wholesale of food materials, beans,
fruits, Yeast. |
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No. of Employee : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 2.1 Million |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. 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.
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Source
: CIA |
K I TECH INTERNATIONAL CO LTD
REGD NAME: K I
Tech International KK
MAIN OFFICE: Daiichi
Inaho Bldg 303, 4-1-26Kudan-Kita Chiyodaku Tokyo
102-0073 JAPAN
Tel:
03-5211-7577 Fax: 03-5211-5780
URL: http://www.kitech-int.co.jp
E-Mail address: info@kitech-int.co.jp
Import,
wholesale of food materials, beans, fruits, Yeast
Brazil
(Agent)
KOJI
ITO, PRES
Yukie
Maruoka, dir
Hiroko
Ito, dir
Yen
Amount: In million Yen,
unless otherwise stated
FINANCES R/WEAK A/SALES Yen 120 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 21 M
STARTED 1996 EMPLOYES 2
TRADING FIRM SPECIALIZING IN FOOD MATERIALS.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT
YEN 2.1 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established by Koji Ito in order to
make most of his experience in the subject line of business. This is a trading firm, owned& operated
by the Ito family, for import, export and wholesale of food materials, products,
beans, yeast, fruits, other. Goods are
imported from Brazil centrally, other from France, other. Clients include major
food makers, wholesalers, other, nationwide.
Financials are disclosed only partially
as is the case with family-based companies.
e sales volume for Jun/2014
fiscal term amounted to Yen 120 million, a similar amount in the previous
term. The net profit was posted at Yen 1
million, compared with Yen 2 million net loss a year ago.
For the current term ending Jun 2015 the net profit is
projected at Yen 5 million, on a 4% rise in turnover, to Yen 125 million. Weaker Yen may increase sales amount in Yen
terms.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Max credit limit is estimated at Yen 2.1 million, on 30
days normal terms.
Date Registered: Nov 1996
Regd No.: 0100-01-090642
(Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Koji Ito & families (--100)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Imports, exports and wholesales food materials &
products: soya bean Fiber products, toasted oat bran powder, fruits products,
meat, powder egg products, orange sugar products, yeast, feedstock, other
(--100%)
[Mfrs, wholesalers] Ajinomoto,
Moriroku Agri, Nissin Powder, Kumamoto Powder, other
No. of accounts: 250
Domestic
areas of activities: Nationwide
[Mfrs,
wholesalers] Imports from Brazil (main), France, other
Slow
but correct
Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactory.
MUFG
(Tamachi)
Kosan
Shinkin Bank (Ichigaya)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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30/06/2015 |
30/06/2014 |
30/06/2013 |
30/06/2012 |
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Annual
Sales |
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125 |
120 |
120 |
92 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
5 |
1 |
-2 |
-1 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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21 |
23 |
24 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.17 |
0.00 |
30.43 |
-8.00 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
|
4.00 |
0.83 |
-1.67 |
-1.09 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/06/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 61.88 |
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|
1 |
Rs. 93.27 |
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Euro |
1 |
Rs. 69.94 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
-- |
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.