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Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
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Name : |
LIFE GEAR CORPORAITON |
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Registered Office : |
Mita Nitto-Dai Bldg, 3-11-36 Mita Minatoku Tokyo 108-0073 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
October 1988 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of sneakers, footwear, bags |
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No. of Employees : |
124 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 276.6 Million |
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Status : |
Satisfactory |
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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 |
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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 |
LIFE GEAR CORPORAITON
REGD NAME: KK
Life Gear Corporation
MAIN OFFICE: Mita
Nitto-Dai Bldg, 3-11-36 Mita Minatoku Tokyo 108-0073 JAPAN
Tel:
03-5439-5701 Fax: 03-5439-5709
URL: http://www.lifegear.co.jp
E-Mail address: (thru the URL)
Import, wholesale of
sneakers, footwear, bags
Osaka, Nagoya,
Fukuoka, Kanagawa
China
China
TAKUMA NAKAYAMA,
PRES
Takashi Miyashita,
dir
Takeshi Muto, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 15,395 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 490 M
TREND SLOW WORTH Yen
24,150 M
STARTED 1988 EMPLOYES 124
TRADING FIRM, OWNED BY MITSUBISHI CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 276.6 MILLION, 30 DAYS NORMAL TERMS
The subject company was established
on the basis of a division separated from Mitsubishi Corporation (See REGISTRATION). This is a trading firm specializing in import
and wholesale of footwear, bags, other.
Goods are manufactured in China and imported. Clients include department stores.
Financial are consolidated by the parent,
Mitsubishi Corp, and only partially disclosed.
The sales volume for Mar/2011 fiscal term amounted to Yen 15,395
million, a 1% up from Yen 15,193 million in the previous term. The net profit was posted at Yen 1,539
million, compared with Yen 1,519 million a year ago.
For the current term ending Mar 2012
the net profit is projected at Yen 1,545 million, on a 3% rise in turnover, to
Yen 15,800 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 276.6 million, on 30 days normal
terms.
Date Registered: Oct
1988
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 9,800 shares
Issued: 9,800 shares
Sum: Yen 490 million
Major
shareholders (%): Mitsubishi Corporation* (100)
*.. Largest trading
house and one of core firms of Mitsubishi Group, founded 1950, listed
Tokyo, Osaka, Nagoya, London S/Es, capital Yen 204,447 million, sales
Yen 19,233,443
Million, operating profit Yen 316,141 million, recurring profit Yen
534,297 million, net profit
Yen 463,188 million, total assets Yen 11,295,599 million, net worth Yen
3,190,335 million,
Employees 58,470, pres Ken Kobayashi
Consolidated
Financials are attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales footwear, sneakers, bags, other (--100%)
(Handling brands): Indian, Shaun Palmer,
Solestar, other
Clients: [Department
stores, chain stores] Achiles, Moon Star, Aoki Holdings, Isetan, other
No. of accounts:
100
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Corp
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Tamachi)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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15,800 |
15,395 |
15,193 |
15,352 |
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Recur.
Profit |
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Net
Profit |
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1,545 |
1,539 |
1,519 |
1,535 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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24,150 |
22,571 |
21,036 |
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Capital,
Paid-Up |
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|
490 |
490 |
490 |
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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 |
2.63 |
1.33 |
-1.04 |
-0.31 |
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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 |
9.78 |
10.00 |
10.00 |
10.00 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2012 fiscal term.
CONSOLIDATED FINANCIAL OF THE PARENT, MITSUBISHI
CORP
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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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19,233,443 |
17,102,782 |
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Cost
of Sales |
1,803,541 |
16,086,185 |
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GROSS PROFIT |
1,149,902 |
1,016,597 |
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Selling & Adm Costs |
833,761 |
834,344 |
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OPERATING PROFIT |
316,141 |
182,253 |
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Non-Operating P/L |
218,156 |
115,619 |
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RECURRING PROFIT |
534,297 |
297,872 |
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NET PROFIT |
463,188 |
274,846 |
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BALANCE SHEET |
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Cash |
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1,208,742 |
1,080,544 |
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Receivables |
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2,133,395 |
2,018,823 |
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Inventory |
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970,675 |
848,448 |
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Securities, Marketable |
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Other Current Assets |
1,680,583 |
1,543,582 |
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TOTAL CURRENT ASSETS |
5,993,395 |
5,491,397 |
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Property & Equipment |
1,735,808 |
1,696,600 |
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Intangibles |
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Investments, Other Fixed Assets |
3,618,239 |
3,668,853 |
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TOTAL ASSETS |
11,347,442 |
10,856,850 |
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Payables |
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1,879,958 |
1,864,811 |
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Short-Term Bank Loans |
655,873 |
655,001 |
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Other Current Liabs |
1,445,466 |
1,191,577 |
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TOTAL CURRENT LIABS |
3,981,297 |
3,711,389 |
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Debentures |
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Long-Term Bank Loans |
3,188,749 |
3,246,029 |
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Reserve for Retirement Allw |
48,657 |
54,535 |
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Other Debts |
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527,749 |
576,202 |
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TOTAL LIABILITIES |
7,746,452 |
7,588,155 |
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MINORITY INTERESTS |
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Common
stock |
203,598 |
203,228 |
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Additional
paid-in capital |
256,501 |
254,138 |
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Retained
earnings |
3,091,532 |
2,706,986 |
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Evaluation
p/l on investments/securities |
291,911 |
300,313 |
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Others |
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(90,902) |
(44,398) |
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Treasury
stock, at cost |
(151,650) |
(151,572) |
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TOTAL S/HOLDERS` EQUITY |
3,600,990 |
3,268,695 |
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TOTAL EQUITIES |
11,347,442 |
10,856,850 |
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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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331,204 |
701,573 |
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Cash
Flows from Investment Activities |
-262,601 |
-138,502 |
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Cash
Flows from Financing Activities |
76,749 |
-755,347 |
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Cash,
Bank Deposits at the Term End |
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1,208,742 |
1,080,544 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
3,600,990 |
3,268,695 |
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Current
Ratio (%) |
150.54 |
147.96 |
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Net
Worth Ratio (%) |
31.73 |
30.11 |
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Recurring
Profit Ratio (%) |
2.78 |
1.74 |
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Net
Profit Ratio (%) |
2.41 |
1.61 |
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Return
On Equity (%) |
12.86 |
8.41 |
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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.50.03 |
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|
1 |
Rs.79.32 |
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Euro |
1 |
Rs.66.02 |
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 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.