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Report No. : |
306771 |
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Report Date : |
14.02.2015 |
IDENTIFICATION DETAILS
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Name : |
KANEMATSU KGK CORPORATION |
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Registered Office : |
1-1-6 Sakuradai Nerimaku Tokyo 176-8510 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May 1963 |
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Com. Reg. No.: |
0116-01-001527 (Tokyo-Nerimaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Machine
Tools. |
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No. of Employees : |
195 |
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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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 |
|
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 |
KANEMATSU KGK CORPORATION
REGD NAME: KK
Kanematsu KGK
MAIN OFFICE: 1-1-6
Sakuradai Nerimaku Tokyo 176-8510
JAPAN
Tel: 03-3557-2161 Fax: 03-3557-2230
E-Mail address: somubu@kgk-j.co.jp
Import, export,
wholesale of machine tools
Osaka, Nagoya,
Yokohama, Hamamatsu, Kyoto, Fukuoka, other (Tot 18)
USA (2), Panama,
Thailand, China, Vietnam, Indonesia, Czech, Korea, India (--subsidiaries)
YASUO CHIBA, PRES Tadafumi Fuse, dir
Yuji Okamoto, dir Hiroshi Kimura, dir
Toshihiko Matsumoto, dir Kiminori Yamada, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 41,099 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 706 M
TREND STEADY WORTH Yen 4,819 M
STARTED 1963 EMPLOYES 195
TRADING HOUSE SPECIALIZING IN MACHINE TOOLS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established on the basis of a section separated from Kanematsu Corp
(see REGISTRATION) in order to
engage in trading of machining tools. In
2002 merged with two sister companies, Kanematsu Industrial Machinery Ltd &
Kanematsu Machinery Corp, to expand business into industrial machinery dealing. This is a trading firm having two divisions:
Factory solution division (machine tools) & Product solution division
(industrial machinery). Has marketing
offices in Malaysia, China, USA, India, Vietnam, other. In Mar 2013, opened subsidiaries in Hanoi
(Vietnam) and Jakarta (Indonesia).
Domestic clients include machine tool mfrs, wholesalers, other,
nationwide.
The sales volume
for Mar/2014 fiscal term amounted to Yen 41,099 million, a 9% rise from Yen
37,624 million in the previous term.
Imports/exports of machining tools expanded on the back of brisk demand
from mfrs both at home and abroad. The
recurring profit was posted at Yen 1,252 million and the net profit at Yen 729
million, respectively, compared with Yen 1,145 million recurring profit and Yen
673 million net profit, respectively, a year ago.
For the current
term ending Mar 2015 the recurring profit was projected at Yen 1,300 million
and the net profit at Yen 780 million, respectively, on a 9% rise in turnover,
to Yen 44,900 million. Exports are increasing
to Vietnam, Indonesia, other.
The financial
situation is considered FAIR and good for ORDINARY business engagement.
Date Registered:
May 1963
Regd No.:
0116-01-001527 (Tokyo-Nerimaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 39.4 million shares
Issued:
9.86 million shares
Sum: Yen 706 million
Major
shareholders (%): Kanematsu Corp (97.8),
Employees’ S/Holding Assn (2.1), Company’s Treasury Stock (0.1)
No. of shareholders: 3
*.. Trading house, once one of major general trading houses, reduced
operations to focus on IT, foodstuffs, steel & plants, textiles, Tokyo,
listed Tokyo S/E, capital Yen 27,781 million, turnover Yen 1,114,539 million,
operating profit Yen 19,776 million, recurring profit Yen 20,160 million, net
profit Yen 11,799 million, total assets Yen 412,400 million, net worth Yen
72,200 million, employees 5,747, pres Masayuki Shimojima
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Import, export,
wholesale of machining tools (73%), industrial machinery (21%). Solar systems,
other (6%)
(Export
13%).
Clients: [Mfrs,
wholesalers] KGK International Corp, Sumisho Lease Co, House Foods Corp,
Yamazaki Baking Co, Kaihara Sangyo, Central Lease, Uny Charm Materials, Mitsui
Finance & Lease Co, Mitsubishi UFJ Lease, Futaba Machinery, Sanwa Seiki Co,
other.
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Okuma Corp, Makino Milling Machine, OKK Corp, Mori Seiki, Okuma
& Howa Machinery, Sodik Co, Citizen Machinery, Yamazaki
Mazax Systems, other.
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption address
are leased and maintained satisfactorily.
Bank
References:
Mizuho Bank
(Ikebukuro)
Gunma Bank
(Ikebukuro)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
44,900 |
41,099 |
37,624 |
38,597 |
|
Recur.
Profit |
|
1,300 |
1,252 |
1,145 |
1,254 |
|
Net
Profit |
|
780 |
729 |
673 |
-231 |
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Total
Assets |
|
|
22,230 |
16,625 |
19,501 |
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Current
Assets |
|
|
19,128 |
13,740 |
16,634 |
|
Current
Liabs |
|
|
16,775 |
11,329 |
14,728 |
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Net
Worth |
|
|
4,819 |
4,613 |
4,153 |
|
Capital,
Paid-Up |
|
|
706 |
706 |
706 |
|
Div.P.Share(¥) |
|
|
45.00 |
38.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
9.25 |
9.24 |
-2.52 |
11.30 |
|
Current Ratio |
|
.. |
114.03 |
121.28 |
112.94 |
|
N.Worth Ratio |
|
.. |
21.68 |
27.75 |
21.30 |
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R.Profit/Sales |
|
2.90 |
3.05 |
3.04 |
3.25 |
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N.Profit/Sales |
|
1.74 |
1.77 |
1.79 |
-0.60 |
|
Return On Equity |
|
.. |
15.13 |
14.59 |
-5.56 |
Notes: Forecast (or estimated) figures for the
31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.