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Report No. : |
310521 |
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Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
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Name : |
KAMADA SPRING CO LTD |
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Registered Office : |
1-165 Kitabukurocho Omiyaku Saitama City Saitama-Pref 330-0835 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2015 |
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Date of Incorporation : |
July 1960 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of springs, injection needles, other |
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No of Employees : |
80 |
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 Limit : |
Yen 23.0 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) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
KAMADA
SPRING CO LTD
KK Kamada Spring
1-165 Kitabukurocho Omiyaku Saitama City
Saitama-Pref 330-0835 JAPAN
Tel: 048-644-1155 Fax: 048-644-1157
*.. The is its Kanuma Factory
URL: http://www.kamada-spring.com
E-Mail address: (thru the URL)
Mfg of springs, injection
needles, other
Kanuma
Kanuma (2)
FUMIO KAMADA, PRES
Toshiya Kamada, rep dir
Akira Kamada, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 768 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 20 M
TREND UP WORTH Yen 379 M
STARTED 1960 EMPLOYES 80
MANUFACTURES SPRINGS, INJECTION NEEDLES, OTHER. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT
YEN 23.0 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established
by father of Fumio Kamada originally in 1957, and was incorporated in
1960. Fumio took the president office in
1992. This is a specialized mfr of metal
springs (various types), injection needles (medical), other. Clients include major electric mfrs, metal
industries, other, nationwide.
Financials are disclosed only
partially.
The sales volume for Jan/2014 fiscal
term amounted to Yen 768 million, a 2% up from Yen 751 million in the previous
term. Medical injection needles were
much demanded. The net profit was posted
at Yen 11 million, compared with Yen 14 million a year ago.
For the term that ended Jan 2015 the
net profit was projected at Yen 15 million, on a 4% rise in turnover, to Yen
795 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 23.0
million, on 30 days normal terms.
Date Registered:
Jul 1960
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 160,000
shares
Issued: 40,000
shares
Sum: Yen
20 million
Major
shareholders (%): Fumio Kamada (40), Toshiya Kamada
(40), Akira Kamada (20)
No. of
shareholders: 3
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Manufactures various types metal springs, medical injection needles, other (--100%)
Clients:
[Mfrs, wholesalers] Kanematsu Corp, Sony Corp, Sanyo Electric, Alps Electric,
Oki Electric Ind, Panasonic Corp, Yamato Ind, NIPRO Corp, Matsuoka Meditech,
other
No. of accounts: 350
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Hirano Steel, Asada Corp, Maruhashi Seisakusho, Kyoshin Co, Ohtsu
Seisakusyo, Teshima Corp, other
Payment record: No Complaints
Location:
Business area in Saitama. Office
premises at the caption address are owned and maintained satisfactory.
Bank References:
Tochigi
Bank (Omiya)
Musashino
Bank (Omiya)
Relations:
Satisfactory
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Terms Ending: |
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31/01/2015 |
31/01/2014 |
31/01/2013 |
31/01/2012 |
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Annual Sales |
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795 |
768 |
751 |
822 |
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Recur. Profit |
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.. |
.. |
.. |
.. |
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Net Profit |
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15 |
11 |
14 |
19 |
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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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379 |
372 |
362 |
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Capital, Paid-Up |
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20 |
20 |
20 |
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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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3.52 |
2.26 |
-8.64 |
-6.16 |
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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 |
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1.89 |
1.43 |
1.86 |
2.31 |
Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 31/01/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 61.79 |
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|
1 |
Rs. 95.42 |
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Euro |
1 |
Rs. 69.28 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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.