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Report No. : |
307802 |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
LEMONGAS KAGOSHIMA CO LTD |
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Registered Office : |
1-11-19 Chuzan Kagoshima 891-0108 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1988 |
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Com. Reg. No.: |
3400-01-004622 |
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Legal Form : |
Limited Company |
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Line of Business : |
Retails LPG (100%) |
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No. of Employees : |
82 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 40.2 Million |
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Status : |
Satisfactory |
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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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source
: CIA |
LEMONGAS KAGOSHIMA
CO LTD
KK Lemongas Kagoshima
1-11-19 Chuzan Kagoshima 891-0108 JAPAN
Tel: 099-263-5211
URL: N/A
ACTIVITIES: Retail of LPG
BRANCHES: At the caption address (shop)
OFFICERS: SHINTARO AKATSU, PRES
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 2,243 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND UP WORTH Yen 3,640 M
STARTED 1988 EMPLOYES 82
COMMENT: RETAILER OF LPG. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 40.2 MILLION, ON 30 DAYS NORMAL
TERMS.
The subject company was established by Shintaro Akatsu in order to make
most of his experience in the subject line of business. This is a specialized retailer of LPG in
Kagoshima. Products are supplied from
oil companies.
Financials are disclosed only partially.
The sales volume for Mar/2014 fiscal term amounted to Yen 2,243 million,
a 2% up from Yen 5,211 million in the previous term. The net profit was posted at Yen 199 million,
compared with Yen 212 million a year ago.
For the current term ending Mar 2015 the net profit is projected at Yen
200 million, on a 3% rise in turnover, to Yen 2,300 million
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is estimated at Yen 40.2
million, on 30 days normal terms.
Date Registered: Apr
1988
Regd No.: 3400-01-004622
(Kagoshima-Kagoshima)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum: Yen
10 million
Major shareholders
(%): Shintaro Akatsu (100)
Nothing detrimental is known as to his commercial morality of
executives.
Activities: Retails LPG
(100%)
Clients: Consumers
No. of accounts: Unavailable
Domestic areas of activities: Centered in Kagoshima City
Suppliers: [Mfrs,
wholesalers] Kamata KK, Nichibei Koyu Co, Minami Kyushu Ekika Gas Co, other
Payment record: Slow but correct
Location: Business area in
Kagoshima. Office premises at the caption
address are owned and maintained satisfactory.
Bank References:
Mizuho Bank (Fukuoka)
Kagoshima Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
Annual Sales |
|
2,300 |
2,243 |
2,209 |
2,143 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
200 |
199 |
212 |
266 |
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Total Assets |
|
|
N/A |
N/A |
N/A |
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Net Worth |
|
|
3,640 |
3,441 |
3,229 |
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Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.54 |
1.54 |
3.08 |
-0.33 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
8.70 |
8.87 |
9.60 |
12.41 |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.72 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.