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Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SINCERE INC |
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Registered Office : |
1-41-5 Kami-Shakujii Nerimaku |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
May 2002 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale, retail of watch straps |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
SINCERE INC
REGD NAME: KK
Sincere
MAIN OFFICE: 1-41-5
Kami-Shakujii Nerimaku Tokyo 177-0044
Tel:
03-3929-4011 Fax: 03-5991-2421
URL: http://www.sincere-inc.co.jp
E-Mail address: (thru the URL)
Import, wholesale,
retail of watch straps
Nil
KOICHI YAMANISHI,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 196 M
PAYMENTS NO COMPLAINT CAPITAL Yen
20 M
TREND UP WORTH Yen 36 M
STARTED 2002 EMPLOYES 5
IMPORTER OF WATCH STRPS FROM ITALY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established
originally in 1995 by Shigemi Yamanishi on obtaining import agency agreement
from Morellato Spa, Italy. Koichi
Yamanishi is the founder’s son. This
firm imports watch straps from Morellato Spa.
Goods are retailed online, too.
Financials are only partially
disclosed.
The sales volume for Mar/2011 fiscal term amounted to Yen 196 million, a
28% up from Yen 153 million in the previous term. Demand increased. The net profit was posted at Yen 11 million,
compared with Yen 1 million a year ago.
For the term that ended Mar 2012 the
net profit was projected at Yen 12 million, on a 2% rise in turnover, to Yen
200 million. Final results are yet to be
released.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: May
2002
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20 million
Major
shareholders (%): Koichi Yamanishi (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, wholesales
and retails watch straps & accessories as agent for Morellato Spa, Italy
(--100%)
Clients: [Consumers, watch
makers, watch stores] Ikspeari, Bay Cruise, Kronos, U’s Company, Best Sales,
Chino Watch Shop, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs] Imports
from Morellato Spa, Italy
Payment record: NO COMPLAINT
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Oizumi)
SMBC (Nerima)
Relations:
Satisfactory
(In Million
Yen)
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31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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200 |
196 |
153 |
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Recur.
Profit |
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Net
Profit |
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12 |
11 |
1 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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63 |
52 |
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Capital,
Paid-Up |
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20 |
20 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.04 |
28.10 |
- - - |
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Current Ratio |
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.. |
.. |
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N.Worth Ratio |
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.. |
.. |
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N.Profit/Sales |
6.00 |
5.61 |
0.65 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.92 |
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|
1 |
Rs.88.91 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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.