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Report Date : |
06.11.2012 |
IDENTIFICATION DETAILS
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Name : |
PIEROTH |
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Registered Office : |
Shinagawa NSS Bldg 5th, 2-13-31 Konan Minatoku |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
May 1974 |
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Com. Reg. No.: |
0104-01-024810 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale, retail of wines |
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No. of Employees : |
500 |
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RATING & COMMENTS
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MIRA’s 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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
PIEROTH JAPAN KK
Pieroth Japan KK
Shinagawa NSS Bldg
5th, 2-13-31 Konan Minatoku Tokyo 108-0075 JAPAN
Tel:
03-3458-4455 Fax: 03-3458-4451
E-Mail address: (thru the URL)
Import, wholesale, retail of wines
Sapporo,
Sendai, Osaka, Yokohama, Nagoya, other (Tot 35)
JOHANNESS
PIEROTH, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 8,493 M
PAYMENTS No Complaints CAPITAL Yen
950 M
TREND UP WORTH Yen 6,130 M
STARTED 1974 EMPLOYES 500
TRADING FIRM SPECIALZING IN WINES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Ferdinand Pieroth as its marketing
office in Japan. This is a trading firm
for import, wholesale and retail of wines.
Operates 35 retail shops nationwide from Hokkaido to Osaka. Goods are imported from the parent and its
group firms worldwide.
^Financials are only partially disclosed.
The sales volume for Dec/2011 fiscal term amounted to Yen 8,493 million,
a 2% up from Yen 8,323 million in the previous term. The net profit was posted at Yen 380 million,
compared with Yen 230 million a year ago.
For the current term ending Dec 2012 the net profit is projected at Yen
390 million, on a 2% rise in turnover, to Yen 8,700 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May 1974
Regd No.: 0104-01-024810 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.9 million shares
Issued:
1.9 million shares
Sum: Yen 950 million
Major shareholders (%): Ferdinand Pieroth (100%)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports,
wholesales and retails of wines: retailing (90%), wholesaling (10%), operating
35 stores nationwide.
Clients: Consumers,
restaurants, hotels, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from Ferdinand Pieroth (60%), other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Deutche
Bank (Tokyo)
SMBC
(Hamamatsucho)
Relations:
Satisfactory
(In Million Yen)
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31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual
Sales |
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8,700 |
8,493 |
8,323 |
8,590 |
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Recur.
Profit |
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Net
Profit |
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390 |
380 |
230 |
240 |
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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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6,130 |
5,750 |
5,520 |
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Capital,
Paid-Up |
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950 |
950 |
950 |
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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 |
2.44 |
2.04 |
-3.11 |
-9.20 |
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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 |
4.48 |
4.47 |
2.76 |
2.79 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.08 |
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UK Pound |
1 |
Rs.86.69 |
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Euro |
1 |
Rs.69.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 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.