MIRA INFORM REPORT
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Report No. : |
332838 |
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Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
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Name : |
KOYO ORIENT JAPAN CO LTD |
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Registered Office : |
2-3-2 Azumacho Ageo City Saitama-Pref 362-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
August, 2002 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of synthetic leather, vinyl leather, injection mold machinery. |
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No. of Employees : |
17 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 31.4 Million |
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Status : |
Small Company |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times since 2008.
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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 2014 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. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
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Source
: CIA |
Company
Name and address
KOYO ORIENT JAPAN CO LTD
REGD NAME: Koyo
Orient Japan KK
MAIN OFFICE: 2-3-2
Azumacho Ageo City Saitama-Pref 362-0031 JAPAN
Tel: 048-783-3341 Fax: 048-783-3141
URL: http://www.koyo-orient.co.jp
E-Mail address: koj@koyo-orient.co.jp
ACTIVITIES
Import, export,
wholesale of synthetic leather, vinyl
leather, injection mold machinery
BRANCHES
Nil
OVERSEAS
China, Hong Kong,
Taiwan, Thailand, Laos
OFFICERS
TAKAO KIYOFUJI,
PRES
Takatoshi Kodama,
dir
Shuhei Kiyofuji,
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,156 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 30 M
TREND STEADY WORTH Yen 369 M
STARTED 2002 EMPLOYES 17
COMMENT
TRADING FIRM SPECIALIZING IN SYNTHETIC
LEATHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED
AT YEN 31.4 MILLION, ON 30 DAYS NORMAL TERMS.
HIGHLIGHTS
This is a trading
firm, established by Takao Kiyofuji, for import, export and wholesale of
synthetic leather, vinyl leather, injection mold machinery, leather packing for
industrial use, other (--100%)
FINANCIAL
INFORMATION
The sales volume
for Mar/2015 fiscal term amounted to Yen 1,156 million, a 26% up from Yen 914 million in the previous term. The recurring
profit was posted at Yen 63 million and the net profit at Yen 40 million,
respectively, compared with Yen 32 million recurring profit and Yen 7 million
net profit, respectively, a year ago.
For the current
term ending Mar 2016 the recurring profit is projected at Yen 70 million and
the net profit at Yen 50 million, respectively, on an 8% rise in turnover, to
Yen 1,250 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 31.4
million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug 2002
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,400
shares
Issued: 600
shares
Sum: Yen
30 million
Major
shareholders (%): Takao Kiyofuji (100)
Nothing detrimental
is known as to the commercial morality of executives.
OPERATION
Activities: Import, export
and wholesale of synthetic leather, vinyl leather, industrial-use packing,
injection mold machinery, other (--100%)
Clients: [Mfrs, wholesalers]
Koyo Pacific (Thailand) Co, Kowon & TSL Ltd, other Exports to China, Taiwan, Thailand, Singapore,
other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] KK Kimoto, Somar Corp, Fujibo Ehime, Fuji Paints Ind, other
Payment
record: No Complaints
Location: Business area in Ageo City,
Saitama-Pref. Office premises at the
caption address are owned and maintained satisfactorily.
Bank
References:
Mizuho
Bank (Koshigaya)
Saitama
Resona Bank (Iwatsuki)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
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Annual
Sales |
|
1,250 |
1,156 |
914 |
907 |
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Recur.
Profit |
|
70 |
63 |
32 |
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Net
Profit |
|
50 |
40 |
7 |
71 |
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Total
Assets |
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|
972 |
768 |
518 |
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Current
Assets |
|
|
507 |
354 |
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Current
Liabs |
|
|
487 |
297 |
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Net
Worth |
|
|
369 |
328 |
301 |
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Capital,
Paid-Up |
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|
30 |
30 |
30 |
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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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8.13 |
26.48 |
0.77 |
-4.02 |
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Current Ratio |
|
.. |
104.11 |
119.19 |
.. |
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N.Worth Ratio |
|
.. |
37.96 |
42.71 |
58.11 |
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R.Profit/Sales |
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5.60 |
5.45 |
3.50 |
.. |
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N.Profit/Sales |
|
4.00 |
3.46 |
0.77 |
7.83 |
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Return On Equity |
|
.. |
10.84 |
2.13 |
23.59 |
Notes: Forecast (or estimated) figures for the
31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.49 |
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|
1 |
Rs.99.43 |
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Euro |
1 |
Rs.69.14 |
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.
S