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Report Date : |
05.11.2012 |
IDENTIFICATION DETAILS
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Name : |
WESTERN JET CORP |
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Registered Office : |
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Country : |
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Date of Incorporation : |
April 2011 |
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Com. Reg. No.: |
1900-01-100708 (Aichi-Tokoname) |
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Legal Form : |
Limited Company |
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Line of Business : |
Air cargo freight forwarder |
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No. of Employees : |
11 |
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RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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
WESTERN JET CORP
REGD NAME: KK
Western Jet Corp
MAIN OFFICE:
Tel: 0569-89-9195
Fax: 0569-89-9193
URL: N/A
Air cargo freight
forwarder
Nil
STEPHAN GRASSER,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 800 M*
PAYMENTS UNKNOWN CAPITAL Yen
20 M
TREND UNDETD WORTH Yen
35 M
STARTED 2011 EMPLOYES 11
*..
For the initial 5 months since inception
AIR CARGO FRIEGHT FORWARDER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established
by Stephen Grasser in order to make most of his experience in the subject line
of business. This is an air cargo
freight forwarder at the Central Japan International Airport in Aichi-Pref. Uses Dassault Falcon- and Lufthansa-related
airlines for the forwarding. Clients are
business firms, travelers, individuals, other.
The sales volume for the initial 5
months ended Aug/2011 fiscal term amounted to Yen 800 million, on the net profit
of Yen 15 million.
For the term that ended Aug 2012 the
net profit was projected at Yen 35 million, on a 5% rise in turnover, to Yen
2,000 million. Final results are yet to
be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Apr 2011
Regd No.:
1900-01-100708
(Aichi-Tokoname)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20 million
Major
shareholders (%): Stephen Grasser (100)
Nothing
detrimental is known as to his commercial morality of executives.
Activities: Air cargo
freight forwarder (100%).
Clients: Mfrs, business
firms, individuals, other
No. of accounts: Unavailable
Domestic areas of
activities: Centered in Aichi-Pref
Suppliers: [Mfrs,
wholesalers] Dassault Falcon-related firms, Lufthansa-related firms, Airlines
owners, airport business firms, other.
Payment record: Unknown
Location: Business area in
Tokoname City, Aichi-Pref. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (Nagoya)
Mizuho Bank
(Nagoya-Ekimae)
Relations:
Satisfactory
(In Million Yen)
NOT YET MADE AVAILABLE
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.66 |
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1 |
Rs.86.37 |
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Euro |
1 |
Rs.69.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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.