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Report No. : |
304820 |
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Report Date : |
29.01.2015 |
IDENTIFICATION DETAILS
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Name : |
DAITOKU KOGYO CO LTD |
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|
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Registered Office : |
3-8-30 Mitsuyanaka Yodogawaku Osaka
532-0036 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 (Estimated) |
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Date of Incorporation : |
October 1956 |
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|
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Com. Reg. No.: |
1200-01-056575
(Osaka-Yodogawaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter and wholesaler of silicon, Ferro-Silicon, ferroalloy
& steel, Carbon as well as
Stainless Wastes |
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|
|
|
No of Employees : |
09 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
DAITOKU KOGYO CO LTD
Daitoku Kogyo KK
3-8-30 Mitsuyanaka
Yodogawaku Osaka 532-0036 JAPAN
Tel:
06-6308-2021 Fax: 06-6300-1593
URL: N/A
Importer, exporter
and wholesaler of silicon, Ferro-Silicon, ferroalloy & steel, Carbon as well as Stainless
Wastes
Nil
Osaka
(warehouse)
AKIYOSHI
INOUE, PRES
Takaaki
Inoue, dir
Yasuko
Inoue, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,908 M
PAYMENTSNo Complaints
CAPITAL Yen 81 M
TREND SLOW WORTH Yen 665 M
STARTED 1956 EMPLOYES 9
TRADING FIRM SPECIALIZING IN
FERROALLOYS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by originally in 1952 by father of
Akiyoshi Inoue, and was incorporated in 1956.
Akiyoshi took the pres office in Oct 2004. This is a trading firm for import, export and
wholesale of silicon,
Ferro-Silicon, ferroalloy & steel, Carbon as well as Stainless
Wastes
Exports to China, Asia, other.
Clients include metal mfrs, wholesalers, steel mfrs.
The sales volume for Sept/2013 fiscal term amounted to Yen 3,908
million, a 6% down from Yen 4,157 million in the previous term. Higher Yen hurt import/export earnings in Yen
terms. The net profit was posted at Yen 31 million, compared with Yen 480 net
loss a year ago.
For the term that ended Sept 2014 the net profit was projected at Yen 35
million, on a 4% rise in turnover, to Yen 4,050 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct 1956
Regd No.: 1200-01-056575 (Osaka-Yodogawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
648,000 shares
Issued:
162,000 shares
Sum: Yen 81 million
Major shareholders (%): Takaaki Inoue (24), Akiyoshi
Inoue (14), Daitoku Co (12)
No. of shareholders: 25
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales silicon,
Ferro-silicon, ferroalloy & steel (90%), carbon, stainless wastes,
other (10%)
Clients: [Mfrs,
wholesalers] Kubota Corp, Kurimoto Ltd, Kyoei Steel Ltd, Osaka Steel, Metal One
Steel, Nippon Steel & Sumikin Metal, Mitsui Bussan Metals, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Import from China (40%), Ashly Ltd (35%), Mitsui Bussan Metals,
other
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactory.
Bank
References:
Daisan Bank (Osaka)
MUFG (Juso)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2014 |
30/09/2013 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
4,050 |
3,908 |
4,157 |
5,200 |
|
Recur.
Profit |
|
|
|
5 |
22 |
|
Net
Profit |
|
35 |
31 |
-480 |
21 |
|
Total
Assets |
|
|
3,321 |
3,090 |
3,964 |
|
Current
Assets |
|
|
2,814 |
2,580 |
3,433 |
|
Current
Liabs |
|
|
2,656 |
2,453 |
2,831 |
|
Net
Worth |
|
|
665 |
637 |
1,132 |
|
Capital,
Paid-Up |
|
|
81 |
81 |
81 |
|
Div.Ttl
in Million (¥) |
|
|
9 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.63 |
-5.99 |
-20.06 |
2.56 |
|
Current Ratio |
|
.. |
105.95 |
105.18 |
121.26 |
|
N.Worth Ratio |
|
.. |
20.02 |
20.61 |
28.56 |
|
R.Profit/Sales |
|
.. |
.. |
0.12 |
0.42 |
|
N.Profit/Sales |
|
0.86 |
0.79 |
-11.55 |
0.40 |
|
Return On Equity |
|
.. |
4.66 |
-75.35 |
1.86 |
Notes:
Forecast (or estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
UK Pound |
1 |
Rs.93.18 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.