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Report Date : |
30.04.2012 |
IDENTIFICATION DETAILS
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Name : |
DIP INC |
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Registered Office : |
KT Ochanomizu Hijiribashi Bldg 4F, 1-3-4 Yushima Bunkyoku |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
October, 2005 |
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Com. Reg. No.: |
0100-01-095963 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale, retail of international publications |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Usually Correct |
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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 30, 2011
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
DIP INC
KK DIP
KT Ochanomizu Hijiribashi Bldg 4F, 1-3-4 Yushima Bunkyoku Tokyo 113-0034
JAPAN
Tel: 03-5842-9050 Fax:
03-5842-9080
*.. Registered at: 4-3 Kanda-Surugadai Chiyodaku Tokyo
URL : http://www.dip-inc.co.jp
E-Mail address: (thru the URL)
Import, wholesale, retail of international publications
Nil
SHUICHI USHIYAMA, PRES Akira
Hirabayashi, ch
Machiya Matsumoto, dir Tohru
Okochi, dir
Takashi Anzai, dir Takashi
Kaneda, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES R/WEAK A/SALES Yen 657 M
PAYMENTS USUALLY CORRECT CAPITAL Yen
100 M
TREND SLOW WORTH Yen 25 M
STARTED 2005 EMPLOYES 5
TRADING FIRM SPECIALIZING IN INTERNATIONAL PUBLICATIONS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
SECURED TERMS ON NEW TRANSACTIONS
The subject company was established on the basis of a trading division
separated from Nippon Shuppan Hambai Inc (See REGISTRATION). This is a trading firm for import, wholesale
and retail of international publications: books, magazines, other.
Financial are consolidated by the parent and disclosed digested form
only.
The sales volume for Mar/2011 fiscal term amounted to Yen 657 million, a
0.5% down from Yen 660 million in the previous term. The operations continued in the red to
register Yen 2 million net loss for the term, compared with Yen 90 million net
loss a year ago.
For the term that ended Mar 2012 the operations were projected to come
back to profitability but still limited to a minimum amount post-taxes, on a
0.5% rise in turnover, to Yen 660 million.
Final results are yet to be released.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements. Max
credit limit is estimated at Yen 2.3 million, on 30 days, recommending fixed
terms on new transactions.
Date Registered: Oct 2005
Regd No.: 0100-01-095963 (Tokyo-Chiyodaku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 8,000 shares
Issued: 2,000 shares
Sum: Yen 100 million
Major
shareholders (%): Nippon Shuppan Hambai Inc* (100)
*.. Japan’s largest publication distributor,
Tokyo, founded 1949, capital Yen 3,000 million, sales Yen 731,293 million,
operating profit Yen 16,480 million, recurring profit Yen 6,965 million, net
profit Yen 2,874 million, total assets 310,359, net worth Yen 43,559 million,
employees 1,520, pres F Furuya
Consolidated Financials are attached (See
SUPPLEMENTS)
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports, wholesales
and retails international publications: books, magazines, other (--100%)
Clients: Book stores,
consumers, other
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: Publishers,
wholesalers, other
Location: Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank
References:
SMBC (Kanda)
Mizuho Bank (Kudan)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual Sales |
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660 |
657 |
660 |
680 |
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Recur. Profit |
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Net Profit |
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0 |
-2 |
-90 |
-63 |
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Total Assets |
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393 |
341 |
299 |
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Current Assets |
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367 |
304 |
228 |
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Current Liabs |
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362 |
308 |
168 |
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Net Worth |
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25 |
28 |
118 |
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Capital, Paid-Up |
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100 |
100 |
100 |
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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 |
0.46 |
-0.45 |
-2.94 |
-2.86 |
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Current Ratio |
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.. |
101.38 |
98.70 |
135.71 |
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N.Worth Ratio |
.. |
6.36 |
8.21 |
39.46 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.00 |
-0.30 |
-13.64 |
-9.26 |
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Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term.
CONSOLIDATED
FINANCIALS OF THE PARENT,
NIPPON SHUPPAN
HAMBAI INC
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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731,293 |
751,458 |
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Cost of Sales |
636,811 |
654,790 |
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GROSS PROFIT |
94,482 |
96,667 |
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Selling & Adm Costs |
78,002 |
81,056 |
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OPERATING PROFIT |
16,480 |
15,610 |
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Non-Operating P/L |
-9,515 |
-9,504 |
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RECURRING PROFIT |
6,965 |
6,106 |
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NET PROFIT |
2,874 |
3,129 |
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BALANCE SHEET |
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Cash |
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50,455 |
41,683 |
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Receivables |
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185,059 |
140,178 |
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Inventory |
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33,072 |
36,715 |
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Securities, Marketable |
1,271 |
537 |
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Other Current Assets |
(44,546) |
4,971 |
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TOTAL CURRENT ASSETS |
225,311 |
224,084 |
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Property & Equipment |
61,014 |
62,320 |
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Intangibles |
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5,248 |
5,501 |
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Investments, Other Fixed Assets |
18,786 |
21,895 |
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TOTAL ASSETS |
310,359 |
313,800 |
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Payables |
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204,689 |
210,396 |
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Short-Term Bank Loans |
10,272 |
11,349 |
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Other Current Liabs |
28,299 |
27,083 |
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TOTAL CURRENT LIABS |
243,260 |
248,828 |
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Debentures |
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10 |
130 |
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Long-Term Bank Loans |
2,165 |
2,630 |
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Reserve for Retirement Allw |
5,727 |
6,090 |
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Other Debts |
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15,638 |
14,652 |
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TOTAL LIABILITIES |
266,800 |
272,330 |
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MINORITY INTERESTS |
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Common stock |
3,000 |
3,000 |
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Additional paid-in capital |
17 |
17 |
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Retained earnings |
28,754 |
26,329 |
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Evaluation p/l on
investments/securities |
10,048 |
9,991 |
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Others |
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2,597 |
2,141 |
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Treasury stock, at cost |
(857) |
(8) |
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TOTAL S/HOLDERS` EQUITY |
43,559 |
41,470 |
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TOTAL EQUITIES |
310,359 |
313,800 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2011 |
31/03/2010 |
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Cash Flows from Operating Activities |
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12,398 |
6,014 |
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Cash Flows from Investment
Activities |
1,290 |
-9,690 |
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Cash Flows from Financing Activities |
-3,294 |
-1,682 |
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Cash, Bank Deposits at the Term End |
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45,218 |
34,823 |
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ANALYTICAL
RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net Worth (S/Holders' Equity) |
43,559 |
41,470 |
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Current Ratio (%) |
92.62 |
90.06 |
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Net Worth Ratio (%) |
14.04 |
13.22 |
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Recurring Profit Ratio (%) |
0.95 |
0.81 |
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Net Profit Ratio (%) |
0.39 |
0.42 |
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Return On Equity (%) |
6.60 |
7.55 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.68 |
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1 |
Rs.85.12 |
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Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
---- |
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.