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Report No. : |
303672 |
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Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
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Name : |
COAKEN TECHNO CO LTD |
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Registered Office : |
5-2 Nishimachi Chikkohamadera Nishiku Sakai City Osaka-Pref 592-8352 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
Jan 1973 |
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Com. Reg. No.: |
1201-01-002158 (Sakai-Nishiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Thermal Spray Equipment & Systems |
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No. of Employee : |
10 |
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 11.0 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
COAKEN TECHNO CO
LTD
REGD NAME: Coaken Techno KK
MAIN OFFICE: 5-2 Nishimachi Chikkohamadera Nishiku Sakai
City Osaka-Pref 592-8352
JAPAN
Tel:
072-268-1201 Fax: 072-268-1204
URL: http://www.coaken-ctechnos.co.jp
E-Mail address: info@coaken-technos.co.jp
ACTIVITIES: Mfg of thermal spray equipment &
systems
BRANCHES: Nil
FACTORIES: At the caption address
OFFICERS: KOICHI AKIMOTO, PRES
Kazuo
Akimoto, ch
Ryoji
Akimoto, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 351 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
25 M
TREND SLOW WORTH Yen 202 M
STARTED 1973 EMPLOYES 10
COMMENT: MFR OF THERMAL SPRAY EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 11.0 MILLION, ON 30 DAYS
NORMAL TERMS.
The subject company was established by Kazuo Akimoto in
order to make most of his experience in the subject line of business. Koichi is his son, who took the pres office
in Sept 2003. This is a family-based mfr
of thermal spray equipment & systems.
This is the only one mfr in Japan of these equipment & systems. Goods are exported to Korea, China, Thailand,
Philippines, Indonesia, India, USA, other.
Domestic clients include auto makers, aluminum mfrs, other
Financials are disclosed only partially.
The sales volume for Dec/2013 fiscal term amounted to Yen 351
million, a 37% down from Yen 558 million in the previous term. Exports to China decreased drastically due to
economic downturn. The net profit was
posted at Yen 24 million, compared with Yen 56 million a year ago.
For the term that ended Dec 2014 the net profit was
projected at Yen 25 million, on a 5% rise in turnover, to Yen 370 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 11.0 million, on 30 days normal terms.
Date
Registered: Jan 1973
Regd
No.: 1201-01-002158
(Sakai-Nishiku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
200,000 shares
Issued:
50,000 shares
Sum: Yen 25 million
Major
shareholders (%): Kazuo Akimoto (50), Koichi Akimoto (30), Ryoji Akimoto (15)
No. of shareholders: 4
Nothing detrimental is known as to the commercial morality
of executives.
Activities: Manufactures
thermal spray equipment & systems (--100%)
Clients:
[Mfrs, wholesalers] Exports to China, Korea, India, Thailand, Philippines,
Indonesia, USA, other
Domestically: Mitsubishi Motor, Mitsubishi Aluminum, UACJ,
Kurimoto Ltd, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Kobayashi-Seiki Co, Nihon Tsusan Co, Fukumoto Keikinzoku
Co, other
Payment
record: Slow but Correct
Location:
Business area in Sakai. Office premises at
the caption address are owned and maintained satisfactory.
Bank References:
SMBC
(Sakai)
MUFG
(Sakai-Ekimae)
Relations:
Satisfactory
(In
Million Yen)
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Terms Ending: |
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31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
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Annual Sales |
|
370 |
351 |
558 |
650 |
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Recur. Profit |
|
.. |
.. |
94 |
22 |
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Net Profit |
|
25 |
24 |
56 |
16 |
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Total Assets |
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N/A |
578 |
511 |
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Net Worth |
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|
202 |
179 |
124 |
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Capital, Paid-Up |
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|
25 |
25 |
25 |
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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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5.41 |
-37.10 |
-14.15 |
88.41 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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|
.. |
30.97 |
24.27 |
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N.Profit/Sales |
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6.76 |
6.84 |
10.04 |
2.46 |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2014 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
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|
1 |
Rs.94.02 |
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Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.