MIRA INFORM REPORT
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Report Date : |
16.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ABAHOUSE INTERNATIONAL CO LTD |
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Registered Office : |
Tokyo Tatemono Higashi-Shibuya Bldg, 1-26-20, 3-7 Higashi Shibuyaku 150—0011 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2011 |
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Date of Incorporation : |
February 1986 |
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Com. Reg. No.: |
(Tokyo-Meguroku) 000361 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale,
retail of casual wear,
accessories, jewelry, daily items |
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No. of Employees
: |
788 persons |
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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Maximum Credit Limit : |
Yen 697.7 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
---- |
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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
Company name
ABAHOUSE INTERNATIONAL CO LTD
REGD NAME
KK Abahouse
International
MAIN OFFICE
Tokyo Tatemono Higashi-Shibuya Bldg, 1-26-20, 3-7 Higashi Shibuyaku 150-0011
Tel: 03-3406-2600 Fax: 03-3462-6463
*.. Registered at: 1-17-6 Aobadai Meguroku Tokyo 153-0042, as given
URL: http://www.abahouse.co.jp/
E-Mail address: info@abahouse.co.jp;
welinfo@abahouse.co.jp (online
shop)
ACTIVITIES
Import,
wholesale, retail of casual wear, accessories, jewelry, daily items
BRANCHES
Tokyo
(2), Osaka
SHOPS
183
shops nationwide
FACTORIES
(subcontracted)
OFFICER(S)
Moriyasu
Okada, ch YOICHI
MAGISHI, PRES
Hideyuki
Tokita, dir Kiyohiro
Hara, dir
Masahiro
Kubo, dir Yasuyuki
Kimura, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 18,900 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen
6,705 M
STARTED 1986 EMPLOYES 788
COMMENT
TRADING HOUSE SPECIALIZING IN CLOTHING &
ACCESSORIES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 697.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Yoichi Magishi in order to make
most of his experience in the subject line of business. This is a trading house, with mfg division,
for import, wholesale and retail of casual clothing, bags, watches, jewelry,
sunglasses, other accessories. While
handling designers’ brand goods, some goods are originally designed &
subcontracted mfg to overseas & domestic mfrs. Operates in-shops at major department stores,
chain stores, etc, operating 183 stores nationwide. Also, retails online. Regularly conducting seasonal sales campaigns
centrally in the Tokyo region. Imports
are mostly through general trading houses.
FINANCIAL INFORMATION
The sales volume for Feb/2011 fiscal term amounted to Yen 18,900
million, a 2% up from Yen 18,623 million in the previous terms. New stores opened. New original brands sold well. The recurring profit was posted at Yen 367
million and the net profit at Yen 223 million, respectively, compared with Yen
300 million net profit a year ago.
For the current term ending Feb 2012 the recurring profit is projected
at Yen 370 million and the net profit at Yen 230 million, respectively, on a 3%
rise in turnover, to Yen 19,500 million.
Business is seen steadily expanding.
The financial situation is considered FAIR to GOOD and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 697.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1986
Regd No.: (Tokyo-Meguroku) 000361
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,400 shares
Issued: 600
shares
Sum: Yen 30 million
Major shareholders (%): ABA
House Holdings* (100)
*..
Holding company owned by the Okada family
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports,
wholesales and retails coats, jackets, shirts, T-shirts, knitwear, skirts,
tank-tops, slacks, sneakers, socks, handbags, wallets, fingerings, earrings,
bracelets, pendants, watches, belts, leather jackets, other clothing and
clothing accessories, mug cups, sunglasses, lighters, others (--100%).
Goods are retailed at own shops, in-shops (department stores) and
online, too.
(Wholesale 50%, retail 50%)
Brands handled: United Arrows,
Journal Standard, nano universe, BEAMS, Alfreda Bannister, PORTER, SOPH, etc.
Clients: [Department
stores, chain stores, consumers] Takashimaya, Daimaru Matsuzakaya Department Store,
Seibu Department Stores, Hankyu Department Store, Sogo, Isetan Mitsukoshi, Sogo
Seibu Department Store, Lumine, other.
No. of accounts: 300
(wholesale div only)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Marubeni Corp, Takisada Nagoya, NI Teijin Shoji, Itochu Mode Pal,
Kanematsu Textile Corp, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
· SMBC (Aoyama)
· UFJ Bank (Aoyama)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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29/02/2012 |
28/02/2011 |
28/02/2010 |
28/02/2009 |
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Annual
Sales |
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19,500 |
18,900 |
18,623 |
19,630 |
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Recur.
Profit |
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370 |
367 |
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Net
Profit |
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230 |
223 |
300 |
190 |
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Total
Assets |
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10,931 |
N/A |
N/A |
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Net
Worth |
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6,705 |
6,482 |
6,182 |
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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 |
3.17 |
1.49 |
-5.13 |
0.15 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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61.34 |
.. |
.. |
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N.Profit/Sales |
1.18 |
1.18 |
1.61 |
0.97 |
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Notes: Financials are partially disclosed.
Forecast (or estimated) figures for 29/02/2012 fiscal term.
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
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The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the untiring
and unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
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The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
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Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and philanthropy.
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Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
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The diamond jewellery industry in India today may be more than Rs 60000
mil and is rated amongst the fastest growing in the world. Indi ranks
third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
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Excerpts from Times of India dated 30th October 2010 is as
under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of losing
Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months
ago, they had not repaid these dues. Bankers believe many diamantaires
borrowed money during the economic downturn two years ago and diverted funds to
businesses like real estate and capital markets. Many of themselves made money
from these businesses but their diamond companies have gone sick and declared
insolvency.
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Most of the money borrowed from the banks in the name of their diamond
business has been diverted in real estate and the share market. The banks are
not in a position to seize their properties because in many cases, these were
purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.24 |
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UK Pound |
1 |
Rs.83.77 |
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Euro |
1 |
Rs.70.46 |
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.