MIRA INFORM REPORT

 

 

Report Date :           

03.04.2012

 

IDENTIFICATION DETAILS

 

Name :

AMERICAN RAG CIE JAPAN INC

 

 

Registered Office :

2-11-1 Sendagaya Shibuyaku Tokyo

 

 

Country :

Japan

 

 

Financials (as on) :

29.02.2012

 

 

Date of Incorporation :

October 1998

 

 

Com. Reg. No.:

0110-01-031224 (Tokyo-Shibuyaku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, retail of lady’s & men’s wear, accessories, shoes, household goods, CDs

 

 

No. of Employees :

162

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 627.0 Million

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

AMERICAN RAG CIE JAPAN INC

 

 

REGD NAME

 

American Rag Cie Japan KK

 

 

MAIN OFFICE

 

Zenkaren Bldg 8F, 5-12-4 Minami Aoyama Minatoku Tokyo 107-0062 JAPAN

Tel: 03-5456-5780     

 

*.. Registered at: 2-11-1 Sendagaya Shibuyaku Tokyo

                                               

URL:                             http://www.americanragcie.co.jp

E-Mail address:                        (thru the URL)

 

 

ACTIVITIES

 

Import, retail of lady’s & men’s wear, accessories, shoes, household goods, CDs

 

 

STORES

 

Tokyo (4), Yokohama, Osaka (2), Nagoya Kyoto, Fukuoka (Tot 12)

 

 

OFFICERS

 

FUSAYO OHTA, PRES                                                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 4,700 M

PAYMENTS                  No Complaints          CAPITAL           Yen 10 M

TREND             UP                                WORTH            Yen 1,702 M

STARTED                     1998                             EMPLOYES      162

 

 

COMMENT

 

RETAILER SPECIALIZING IN APPAREL & ACCESSORIES, AFFILIATED TO SAZABY INC.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 627.0 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was originated in Los Angeles for exporting designer brand clothing and accessories into Japan, and later reorganized as a JV company by Sazaby Inc (now Sazaby League Inc) and Industries Wartz, USA.  This is a retailer specializing in men’s & lady’s clothing, accessories, shoes, household good and CD’s.  Operates 12 stores nationwide.  Handling items include the products of the major shareholder, Sazaby Inc.  Goods are imported from USA, Europe, other.

 

 

FINANCIAL INFORMATION

           

The sales volume for Feb/2011 fiscal term amounted to Yen 4,700 million, a 4% up from Yen 4,500 million in the previous term.  The net profit was posted at Yen 54 million, compared with Yen 157 million a year ago.

 

For the term that ended Feb 2012 the net profit was projected at Yen 150 million, on a 2% rise in turnover, to Yen 4,800 million.  Final results are yet to be released.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 627.0 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Oct 1998

Regd No.:         0110-01-031224 (Tokyo-Shibuyaku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

 

Major shareholders (%): Sazaby League Inc* (80), Industries Wartz Inc, USA (20)

 

No. of shareholders: 2

 

*.. Sazaby Inc, wholesaler & retailer of in-house designed brand o handbags & Accessories, Tokyo, founded 1974, capital Yen 4,593 million, sales Yen 1,381 million, net loss Yen 875 million, employees 127, pres Masanori Mori

           

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Retails men’s & lady’s wear, accessories, whose, household goods, CD’s, other (--100%)

 

Clients: Consumers

            No. of accounts: Unavailable

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Marubeni Fashion Link, Shimohira Co, other.

Imports from USA, other

 

Payment record: No Complaints

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

MUFG (Shinjuku-Nishi)

Mizuho Bank (Aoyama)

Relations: Satisfactory

 

FINANCES

 (In Million Yen)

 

       Terms Ending:

29/02/1012

28/02/2011

28/02/2010

28/02/2009

Annual Sales

　

4,800

4,700

4,500

4,762

Recur. Profit

　

　

　

　

　

Net Profit

　

150

54

157

179

Total Assets

　

　

2,280

2,268

2,147

Current Assets

　

　

1,207

1,330

1,165

Current Liabs

　

　

457

584

523

Net Worth

　

　

1,702

1,648

1,490

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.13

4.44

-5.50

12.63

    Current Ratio

 

..

264.11

227.74

222.75

    N.Worth Ratio

..

74.65

72.66

69.40

    R.Profit/Sales

 

..

..

..

..

    N.Profit/Sales

3.13

1.15

3.49

3.76

    Return On Equity

..

3.17

9.53

12.01

 

Notes: Forecast (or estimated) figures for the 29/02/2012 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.16

UK Pound

1

Rs.81.79

Euro

1

Rs.68.34

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.