MIRA INFORM REPORT

 

 

Report Date :

13.02.2012

 

IDENTIFICATION DETAILS

 

Name :

EASTLAND CORPORATION

 

 

Registered Office :

Aoyama Sunlight Bldg 2F, 6-5-55 Minami-Aoyama Minatoku Tokyo 107-0062

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

February 2005

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, wholesale of clothing for men/women/children

 

 

No. of Employees :

22

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 21.0 Million

Status :

Small Company

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 30, 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 and address

 

EASTLAND CORPORATION

REGD NAME:    KK Eastland

MAIN OFFICE:  Aoyama Sunlight Bldg 2F, 6-5-55 Minami-Aoyama Minatoku Tokyo 107-0062

JAPAN

Tel: 03-6231-2970     

                                               

URL:                 N/A

 

 

ACTIVITIES

 

Import, wholesale of clothing for men/women/children

 

BRANCHES   

 

Nil

 

 

OFFICERS:

 

MASAHIKO SHIMADA, PRES                                                   

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 1,170 M

PAYMENTS                  NO COMPLAINTS          CAPITAL           Yen 15 M

TREND             SLOW                          WORTH            Yen 170 M

STARTED                     2005                             EMPLOYES      22

 

 

COMMENT    

 

IMPORTER & WHOLESALER OF CLOTHING & ACCESSORIES.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 21.0 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

            The subject company was established by Masahiko Shimada in order to make most of his experience in the subject line of business.  This is a trading firm for import and wholesale of clothing & clothing accessories.  Goods are imported from Europe.  Clients include department stores, specialty stores, other

 

 

FINANCIAL INFORMATION

           

            Financial are only partially disclosed.

 

The sales volume for Jun/2011 fiscal term amounted to Yen 1,170 million, a 4% up from Yen 1,130 million in the previous term.  The net profit was posted at Yen 116 million, compared with Yen 40 million a year ago.  The profits include some extraordinary profits, details not disclosed. 

 

            For the current term ending Jun 2012 the net profit is projected at Yen 40 million, on a 3% rise in turnover, to Yen 1,200 million. 

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 21.0 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Feb 2005

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         1,200 shares

Issued:                300 shares

Sum:                   Yen 15 million

Major shareholders (%): Masahiko Shimada (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

 

Activities: Imports and wholesales clothing & clothing accessories for men, women and children (--100%)

 

Clients: [Department stores, wholesalers] Mitsukoshi Isetan Department Store, American Rag Cie Japan, Beams Co, United Arrows Corp, World Corp, other

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Olmal & Mirta Srl, Ring Srl, other

 

Payment record: No Complaints

 

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

 

Bank References:

Shoko Chukin Bank (Shibuya)

SMBC (Aoyama)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

30/06/2012

30/06/2011

30/06/2010

30/06/2009

Annual Sales

　

1,200

1,170

1,130

1,100

Recur. Profit

　

　

　

　

　

Net Profit

　

40

116

40

30

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

170

89

61

Capital, Paid-Up

　

　

15

15

15

Div.P.Share(₯)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.56

3.54

2.73

32.53

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

3.33

9.91

3.54

2.73

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 30/06/2012 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.64

UK Pound

1

Rs.78.35

Euro

1

Rs.65.79

 

 

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.