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Report No. : |
348843 |
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Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
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Name : |
KVC CO LTD |
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Registered Office : |
46-2 Nishinaka-cho Kisshoin Minamiku Kyoto 601-8303 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2015 |
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Date of Incorporation : |
Feb., 1987 |
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Com. Reg. No.: |
1300-01-017165 (Kyoto-Minamiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Industrial Valves, Equipment. |
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No. of Employees : |
20 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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 first-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.
|
Source
: CIA |
KVC
CO LTD
REGD
NAME: KK KVC
MAIN
OFFICE: 46-2 Nishinaka-cho Kisshoin
Minamiku Kyoto 601-8303 JAPAN
Tel: 075-321-3361 Fax: 075-321-3368
URL: http://www.kvc-kyoto.co.jp
E-Mail address: kvc@kvc-kyoto.co.jp
Mfg industrial valves, equipment
Kyoto
Europe, Asia, other
At the caption address; Scotland,
Singapore, Korea, Taiwan, Germany (--partnership)
HIROSHI HADEYAMA, PRES
Koichi Kobayashi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,300 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
74 M
TREND STEADY WORTH Yen
168 M
STARTED 1987 EMPLOYES 20
COMMENT
MFR OF INDUSTRIAL VALVES & EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company is a
specialized mfr of industrial valves, valve-related equipment, other (See OPERATION). Valves are known as “KVC”
brand. Valves are manufactured also at partnership factories in Europe, Asia,
other. Clients include heavy machinery mfrs, wholesalers, other
Financials
are disclosed only partially.
The sales volume for Jan/2015
fiscal term amounted to Yen 1,300 million, a 12% up from Yen 1,162 million in
the previous term. Demand from oil producing countries increased for their
facilities & equipment. The net profit was posted at Yen 40 million,
compared with Yen 26 million a year ago.
For the current term ending Jan
2016 the net profit is projected at Yen 43 million on a 5% rise in turnover, to
Yen 1,360 million.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Feb 1987
Regd No.: 1300-01-017165 (Kyoto-Minamiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 600 shares
Sum: Yen 74.28 million
Major shareholders
(%): Federal
International (2000) Ltd (45), Koichi Kobayashi (45), Shoichi Sato (5)
No. of shareholders: 4
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures industrial valves,
valve-related equipment: ball valves, forged steel valves, cast steel valves,
butterfly valves, other (--100%) Valves are known as “KVC” brand name.
Clients: [Mfrs, wholesalers] JGC Corp,
Toshiba Corp, Mitsubishi Heavy Ind, Toyo Engineering, Taiwan Plastics, Sumitomo
Chemical Engineering, Toshiba Plant Systems, Mitsui Engineering &
shipbuilding, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from
partnerships in Europe, Asia, other
Payment record: No Complaints
Location: Business area in Kyoto. Office premises at the caption address
are owned and maintained satisfactory.
Bank References:
Mizuho
Bank (Kyoto)
SMBC
(Kyoto)
Relations:
Satisfactory
(In Million Yen)
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Terms
Ending: |
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31/01/2016 |
31/01/2015 |
31/01/2014 |
31/01/2013 |
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Annual Sales |
|
1,360 |
1,300 |
1,162 |
975 |
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Recur. Profit |
|
.. |
.. |
37 |
.. |
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Net Profit |
|
43 |
40 |
26 |
6 |
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Total Assets |
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N/A |
388 |
315 |
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Net Worth |
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|
168 |
140 |
114 |
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Capital, Paid-Up |
|
|
74 |
74 |
74 |
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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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S.Growth Rate |
|
4.62 |
11.88 |
19.18 |
46.62 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
36.08 |
36.19 |
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N.Profit/Sales |
|
3.16 |
3.08 |
2.24 |
0.62 |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures
for the 31/01/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.57 |
|
|
1 |
Rs.101.13 |
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Euro |
1 |
Rs.71.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.