|
Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
MUSTARSEED CORPORATION |
|
|
|
|
Registered Office : |
5-23-4 Omori Ohtaku Tokyo |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
March
1992 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, wholesale of PC’s, parts & peripherals |
|
|
|
|
No. of Employees : |
28 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 a technologically 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. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - 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 after
effects of inefficient investment 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. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001,
and third-place India, which edged out Japan in 2011. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan further into recession. 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 in March disrupted manufacturing. Electricity
supplies remain tight because Japan has temporarily shut down almost all of its
nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled
by the earthquake and resulting tsunami. Estimates of the direct costs of the
damage - rebuilding homes, factories, and infrastructure - range from $235
billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister
Yoshihiko NODA has proposed opening the agricultural and services sectors to
greater foreign competition and boosting exports through membership in the
US-led Trans-Pacific Partnership trade talks and by pursuing free-trade
agreements with the EU and others, but debate continues on restructuring the
economy and reining in Japan's huge government debt, which exceeds 200% of GDP.
Persistent deflation, reliance on exports to drive growth, and an aging and
shrinking population are other major long-term challenges for the economy.
|
Source : CIA |
MUSTARSEED CORPORATION
Mustarseed KK
Theodore Bldg,
3-13- Minami-Ohi Shinagawaku Tokyo 140-0013 JAPAN
Tel:
03-3768-1456
*.. Registered at: 5-23-4 Omori Ohtaku Tokyo
URL: http://www.mustarseed.co.jp
E-Mail address: info@mustarseed.co.jp
Import,
wholesale of PC’s, parts & peripherals
Nil
HIROSHI
MIYATA, PRES
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 5,198 M
PAYMENTS Slow
but Correct CAPITAL Yen 80 M
TREND SLOW WORTH Yen 309 M
STARTED 1992 EMPLOYES 28
TRADING FIRM SPECIALIZING IN PC’S AND PERIPHERALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Hiroshi Miyata in order to make most of his experience in the subject line of business. This is a trading firm for import, export and wholesale of PC’s & peripherals. Goods are imported from USA, Europe, other. Clients include PC shops, wholesalers, other.
The sales volume for Dec/2011 fiscal term amounted to Yen 5,198 million, a 0.4% down from Yen 5,216 million in the previous term. The recurring profit was posted at Yen 18 million and the net profit at Yen 9 million, respectively, compared with Yen 25 million recurring profit and yen 15 million net profit, respectively, a year ago.
For the current term ending Dec 2012 the recurring profit is projected at Yen 20 million and the net profit at Yen 10 million, respectively, on a 2% rise in turnover, to Yen 5,900 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar 1992
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
5,600 shares
Issued:
1,600 shares
Sum: Yen 80 million
Major shareholders (%): Hiroshi Miyata (88), Emi Miyata
(12)
No. of shareholders: 2
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Imports, exports and wholesales PC’s & peripherals: CPU, hard disk, cases, powers, mother board, memory, graphic case, shuttle, accessories (--100%)
Clients: [Mfrs, wholesalers] Sofmap Co, Yodobashi Camera Corp, Tower Hill Corp, Bic Camera Co, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] A-Data Novax, Megatop, AS Rock, Ace Plus Inc, other
Payment record: Slow but Correct
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Resona
Bank (Ikebukuro)
Mizuho
Bank (Shiba)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
Annual
Sales |
|
5,300 |
5,198 |
5,216 |
4,773 |
|
Recur.
Profit |
|
20 |
18 |
25 |
27 |
|
Net
Profit |
|
10 |
9 |
15 |
16 |
|
Total
Assets |
|
|
2,123 |
1,932 |
1,985 |
|
Current
Assets |
|
|
1,761 |
1,582 |
1,576 |
|
Current
Liabs |
|
|
291 |
326 |
331 |
|
Net
Worth |
|
|
309 |
290 |
275 |
|
Capital,
Paid-Up |
|
|
80 |
70 |
70 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
1.96 |
-0.35 |
9.28 |
7.79 |
|
|
Current Ratio |
|
.. |
605.15 |
485.28 |
476.13 |
|
N.Worth Ratio |
.. |
14.55 |
15.01 |
13.85 |
|
|
R.Profit/Sales |
|
0.38 |
0.35 |
0.48 |
0.57 |
|
N.Profit/Sales |
0.19 |
0.17 |
0.29 |
0.34 |
|
|
Return On Equity |
.. |
2.91 |
5.17 |
5.82 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.