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Report No. : |
344428 |
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Report Date : |
09.10.2015 |
IDENTIFICATION DETAILS
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Name : |
N K INTERNATIONAL LTD |
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Registered Office : |
3-19-4
Shiroyamadai Hashimoto City Wakayama-Pref 648-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
April 2006 |
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Legal Form : |
Private Limited
Company (Yugen Gaisha) |
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Line of Business : |
Trading firm for
import, export and wholesale of: spinning machinery/equipment (50%),
industrial refrigerator parts & components (--50%) |
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No. of Employee : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
Yen 1.2 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 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 inefficientINVESTMENT 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 |
N K
INTERNATIONAL LTD
REGD
NAME: YK N K Tsuusho
MAIN
OFFICE: 3-19-4 Shiroyamadai Hashimoto City
Wakayama-Pref 648-0054 JAPAN
Tel:
0736-26-7737 Fax: 0736-26-7738
*..
Registered at: 4-4-12 Honmachi Chuoku Osaka
URL: N/A
Import, export, wholesale of spinning
machinery, industrial refrigerator parts
Nil
Thailand (Business partners)
KIYOSHI NAKAGAWA, PRES
Yen Amount: In
million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 103 M
PAYMENTSSLOW CAPITAL Yen 5 M
TREND STEADY WORTH Yen
(-) 2 M
STARTED 2006 EMPLOYES 1
TRADING FIRM SPECIALIZING IN SPINNING MACHINERY.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 1.2
MILLION, ON 30 DAYS
NORMAL TERMS. RECOMMEND FULLY
SECURED TERMS ON NEW
TRANSACTIONS. NEGATIVE NET
WORTH.
The subject
company is a trading firm originally founded in 1987 by Kiyoshi Nakagawa and
was incorporated in 2006 as a private limited company. This is a trading firm for import, export and
wholesale of spinning machinery/equipment, industrial refrigerator parts &
components, other. Goods are exported to
Taiwan, Bangladesh, Thailand, Pakistan, Korea, China, other. Imports 50% from Thailand.
Financials are
disclosed only partially.
The sales volume
for Mar/2015 fiscal term amounted to Yen 103 million, a 2% up from
Yen 101 million
in the previous term. The net profit was
posted at Yen 1 million, compared with Yen 1 million net losses a year ago.
For the current term
ending Mar 2016 the net profit is projected at Yen 2 million, on a 5% rise in
turnover, to Yen 108 million. The weaker
Yen may contribute to raise earnings in Yen terms.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 1.2 million, on 30 days normal terms, recommending fully
secured terms on new transactions.
Negative net worth.
Date
Registered: Apr
2006
Legal
Status: Private Limited Company (Yugen Gaisha)
Regd
Sum: Yen 5 million
Major shareholders (%): Kiyoshi Nakagawa (100)
Nothing detrimental is known as to his
commercial morality.
Activities: A one-man operated trading firm for import,
export and wholesale of: spinning machinery/equipment (50%), industrial
refrigerator parts & components (--50%)
Clients: [Mfrs, wholesalers] Exports to Taiwan,
Bangladesh, Thailand, Pakistan, Korea, China, other.
Domestically to Fukushima Ind Corp (50%)
No. of accounts: 1
Domestic areas of activities: Centered in the
greater-Osaka
Suppliers: [Mfrs, wholesalers] Kureha Elastomer,
Kaihatsu Kogyo (Ind), Toyo Machinery Co, Tsujii Senki Kogyo, Texam Giken, other
Imports from Thailand (50%)
Payment
record: Slow
Location: Business area in Wakayama.
Office premises at the caption address are owned and maintained
satisfactory.
Bank
References:
MUFG (Shinanobashi)
Mizuho Bank (Semba)
Relations: Satisfactory
(In Million Yen)
|
Terms
Ending: |
|
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
Annual Sales |
|
108 |
103 |
101 |
88 |
|
Recur. Profit |
|
.. |
.. |
-1 |
.. |
|
Net Profit |
|
2 |
1 |
-1 |
-1 |
|
Total Assets |
|
|
N/A |
32 |
35 |
|
Net Worth |
|
|
-2 |
-3 |
-3 |
|
Capital, Paid-Up |
|
|
5 |
5 |
5 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.85 |
1.98 |
14.77 |
-17.76
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
-9.38 |
-8.57 |
|
N.Profit/Sales |
|
1.85 |
0.97 |
-0.99 |
-1.14 |
Notes: Financials are only partially
disclosed.
Forecast (or estimated) figures for the
31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.16 |
|
|
1 |
Rs.99.78 |
|
Euro |
1 |
Rs.73.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.