|
Report No. : |
306997 |
|
Report Date : |
07.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
TETSUSHO KAYABA CORP |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.01.2015 |
|
|
|
|
Date of Incorporation : |
February 1957 |
|
|
|
|
Com. Reg. No.: |
0117-01-005260 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Subject is manufacturer, processing, import, export of steel products. |
|
|
|
|
No. of Employee : |
29 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
|
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 |
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
ACTIVITIES: Mfg,
processing, import, export of steel products
BRANCHES: Kimitsu
FACTORIES: Tokyo
(at the registered address)
OVERSEAS: Korea,
China, Singapore, Sri Lanka, Indonesia
TSUNEO FUKUDA,
PRES Hironori Maruyama, v pres orihiro Shukube, s/mgn dir Kazuyuki
Matsumoto, mgn dir
Keita Fukuda, mgn dir Ken’ichi Arai, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 20,496 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 61 M
TREND UP WORTH Yen 2,061 M
STARTED 1957 EMPLOYES 29
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 Nov 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/2014 fiscal term amounted to Yen 20,496 million,
a 13% up from Yen 18,130 million in the previous term. Exports were robust, increasing the volume by
370,000 tons. The recurring profit was
posted at Yen 1430 million and the net profit at Yen 166 million, respectively,
compared with Yen 179 million recurring profit and Yen 36 million net profit,
respectively, a year ago
For the term that ended Jan 2015 the recurring profit was projected at
Yen 450 million and the net profit at Yen 175 million, respectively, on a 3%
rise in turnover, to Yen 21,100 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 affili- ates
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: No Complaints.
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
FINANCES
(In Million Yen)
|
Terms Ending: |
31/01/2015 |
31/01/2014 |
31/01/2013 |
31/01/2012 |
|
|
Annual
Sales |
|
21,100 |
20,496 |
18,130 |
18,359 |
|
Recur.
Profit |
|
450 |
430 |
179 |
321 |
|
Net
Profit |
|
175 |
166 |
36 |
117 |
|
Total
Assets |
|
|
7,904 |
6,254 |
6,173 |
|
Current
Assets |
|
|
6,259 |
4,662 |
4,655 |
|
Current
Liabs |
|
|
4,841 |
3,317 |
3,174 |
|
Net
Worth |
|
|
2,061 |
1,915 |
1,900 |
|
Capital,
Paid-Up |
|
|
61 |
61 |
61 |
|
Div.Ttl
in Million (¥) |
|
|
21.2 |
21.2 |
21.2 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.95 |
13.05 |
-1.25 |
2.90 |
|
Current Ratio |
|
.. |
129.29 |
140.55 |
146.66 |
|
N.Worth Ratio |
|
.. |
26.08 |
30.62 |
30.78 |
|
R.Profit/Sales |
|
2.13 |
2.10 |
0.99 |
1.75 |
|
N.Profit/Sales |
|
0.83 |
0.81 |
0.20 |
0.64 |
|
Return On Equity |
|
.. |
8.05 |
1.88 |
6.16 |
Note: Forecast (or
estimated) for the 31/01/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.73 |
|
|
1 |
Rs. 94.65 |
|
Euro |
1 |
Rs. 70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
|
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 |
|
<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.