MIRA
INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
EAST WEST CORPORATION |
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Registered Office : |
Sanko Bldg #406, 1-3-9 Minamihonmachi Chuoku
Osaka 541-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
December, 1993 |
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Legal Form : |
Private Limited Company (Yugen
Kaisha) |
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Line of Business : |
Import, Wholesale of Textiles,
Chemical Products |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
Yen 10.5 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name
EAST WEST
CORPORATION
REGD NAME
YK East West Corporation
MAIN OFFICE
Sanko Bldg #406, 1-3-9 Minamihonmachi Chuoku Osaka 541-0054 JAPAN
Tel: 06-6264-6530 Fax:
06-6265-9014
URL: N/A
ACTIVITIES
Import, wholesale of textiles, chemical products
BRANCHES
Nil
OFFICER(S)
JANTIA A RAMKUMAR, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 800 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND SLOW WORTH Yen 49 M
STARTED 1993 EMPLOYES 5
COMMENT
TRADING FIRM SPECIALIZING IN TEXTILES.
FINANCIAL SITUATION CONSIDERED RATHER
WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 10.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Jantia A Ramkumar, Indian resident, in order to make most of his experience in the subject line of business. This is a trading firm specializing in import and wholesale of textile piece goods & products, chemical products, other. Goods are im-ported mainly from India, other from China, etc. Goods supplied to specialty stores, apparel wholesalers, other, centering in the greater-Osaka region.
FINANCIAL INFORMATION
Financial
are only partially disclosed, and in rounded-off numbers.
The sales volume for Mar/2008 fiscal term amounted to Yen 590 million, a 5% up from Yen 560 million in the previous term. Imports increased. The net profit was posted at Yen 1 million, similarly in the previous term.
For the current term ending Mar 2009 the net profit is projected to mark time at Yen 1 million, on a 2% rise in turnover, to Yen 600 million. Apparel market is slow due to unfavorable weather conditions both in summer & winter. Some price hikes are noted, however.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 10.5 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Dec 1993
Legal
Status: Private Limited Company (Yugen Kaisha)
Regd
Capital: Yen 30 million
Major shareholders (%): Ba-Go KK*(54), Jantia A
Ramukmar (30)
*.. Holding company & apparel retailer, owned by J A
Ramukmar
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports and wholesales textile price goods & products, chemical products,
others (--100%)
Goods are imported from India mainly, other from China, etc.
Clients
[Apparel makers, other] Ba-Go
KK, Marugo Sangyo, Maruwa Chemical, other
No. of accounts: 200
Domestic areas of activities: Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers] Sumitomo Chemical, Mitsubishi Gas
Chemical, Mitsui Chemical, Sanyo Sales & Marketing, Ueda Trading Co,
Okahata Sangyo, other Imports from India, China, other
Payment
record: Regular
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Semba)
Bank of India (Osaka)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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600 |
590 |
560 |
600 |
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Recur.
Profit |
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Net
Profit |
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1 |
1 |
25 |
25 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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80 |
79 |
54 |
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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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S.Growth Rate |
1.69 |
5.36 |
-6.67 |
1.69 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.17 |
0.17 |
4.46 |
4.17 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2009 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.46.71 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)