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Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
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Name : |
EISHIN TRADING CO LTD |
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Registered Office : |
TOC Bldg 9F, 7-22-17 Nishigotanda
Shinagawaku Tokyo 141/0034 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
November 1952 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, retail (in-shop operator) of
furniture, apparel |
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No. of Employees : |
77 |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 6.5 Million |
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Status : |
Moderate |
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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 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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EISHIN TRADING CO LTD
REGD NAME: Eishin
Bussan KK
MAIN OFFICE: TOC Bldg
9F, 7-22-17 Nishigotanda Shinagawaku Tokyo 141/0034 JAPAN
Tel: 03-5719-7260 Fax: 03-5719-7266
*.. Moved to the caption
address from the former as given
URL: http://www.eishin-kk.co.jp/
E-Mail address: import-dept@eishin-kk.co.jp
Import, retail
(in-shop operator) of furniture, apparel
Tokyo, Osaka,
Kobe, Chiba, Kyoto, Nagoya, Hiroshima, other (Tot 18)
Kawasaki, Osaka
(--distribution centers)
Equatoriale SRL
(Milan), Camex (Barcelona) (--purchasing agents)
YOSHINOBU SEKINO,
PRES
Kiyoshi Hashimoto,
s/mgn dir
Kiyomi Satoh, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 1,312 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 60 M
TREND SLOW WORTH Yen
153 M
STARTED 1952 EMPLOYES 77
IMPORTER AND
IN-SHOP OPERATOR SPECIALIZING IN FURNITURE AND
APPAREL
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 6.5 MILLION, NORMAL TERMS.
The subject company was established originally as Private Limited
Company for exporting household items, and in 1964 upgraded the legal status to
Limited Company, named as captioned. In
1960 started importing furniture and apparel primarily from Europe. Operates a total 18 in-shops nationwide at
major department stores and chain stores.
Import sources have since been expanded into India, Philippines, China,
Taiwan, and other Asian countries.
Handling items: furniture, wall hangings, interior decorative items,
lighting fixtures, curtain cloths; lingerie, foundation garments, beach wear,
other apparel goods. Also offers house
interior design, plan and architect services.
The sales volume for Dec/2010 fiscal term
amounted to Yen 1,312 million, a 10% drop
from Yen 1,462 million in the previous term. Sales declined due to sluggish consumer
spending. The decline also referred to strong
Yen against foreign currencies which depressed sales in Yen terms. The operations plunged into the red to post
Yen 135 million recurring loss and Yen 310 million net losses, respectively,
compared with Yen 10 million recurring profit and Yen 5 million net profit,
respectively, a year ago.
For the term that ended Dec 2011 the
operations were projected to come back to profitability to post Yen 10 million
recurring profit and Yen 10 million net profit, respectively,, on a 3% rise in
turnover, to Yen 1,350 million.
The financial situation is considered RATHER
WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 6.5
million, on normal terms.
Date Registered:
Nov 1952
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 480,000 shares
Issued: 120,000 shares
Sum: Yen 60 million
Major shareholders (%): Yoshinobu Sekino
(30), Masahiro Tanaka (25), Masataka
Tanaka (16), Kiyoshi Hashimoto (12), Katsumi
Satoh (10)
No. of shareholders:
11
Nothing
detrimental is knows as to the commercial morality of executives.
Activities: Importer and
in-shop operator of: (Home Furnishing Div): furniture, table sets, table sets, cupboards,
cabinets, dining wall hangings, carved ornaments, lighting fixtures, china,
glassware, curtain cloths, upholstery fabrics, restaurant chairs, others
(--65%); (Apparel Div): lingerie, foundation garments, nightwear, swimming
suits, beach/resort wears, bathrobes, stockings, other apparel goods
(--35%). Offers home interior design,
plan & architect services, too.
Goods are wholly imported.
Clients: [Consumers,
department stores] In-shops at: Takashimaya, Isetan, Daimaru, Komatsu Store,
Seibu Department Stores, Tokyo Interior, other.
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from Spain, Italy, France, Belgium, UK, Germany, USA,
India, Taiwan, China, Philippines, etc.
For home interior design & architect services, handles imported
products of: Orac Dιcor (Belgium), Andy Thornton, Oakleaf (--UK), While River
(USA), Wilson Wilcox, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption address
are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Inaricho)
MUFG (Ueno)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
|
Annual
Sales |
|
1,350 |
1,312 |
1,462 |
1,725 |
|
Recur.
Profit |
|
10 |
-135 |
10 |
|
|
Net
Profit |
|
10 |
-310 |
5 |
-438 |
|
Total
Assets |
|
|
1,855 |
2,179 |
2,314 |
|
Current
Assets |
|
|
951 |
1,165 |
|
|
Current
Liabs |
|
|
1,014 |
943 |
|
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Net
Worth |
|
|
153 |
463 |
457 |
|
Capital,
Paid-Up |
|
|
60 |
60 |
60 |
|
Div.P.Share(₯) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.90 |
-10.26 |
-15.25 |
-6.76 |
|
|
Current Ratio |
|
.. |
93.79 |
123.54 |
.. |
|
N.Worth Ratio |
.. |
8.25 |
21.25 |
19.75 |
|
|
R.Profit/Sales |
|
0.74 |
-10.29 |
0.68 |
.. |
|
N.Profit/Sales |
0.74 |
-23.63 |
0.34 |
-25.39 |
|
|
Return On Equity |
.. |
-202.61 |
1.08 |
-95.84 |
|
Notes: Forecast (or estimated) figures for the
31/12/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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 SCs 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.