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Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
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Name : |
BORDERLESS JAPAN CORPORATION |
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Registered Office : |
Choyo Bldg 2F, 1-11-4 Hongo Bunkyoku Tokyo 113-0033 |
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Country : |
Japan |
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Financials (as on) : |
29.02.2012 |
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Date of Incorporation : |
March 2007 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import of herbs, herb teas; rental of shared house/room |
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No. of Employees : |
12 |
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 : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
BORDERLESS JAPAN CORPORATION
REGD NAME: KK
Borderless Japan
MAIN OFFICE: Choyo
Bldg 2F, 1-11-4 Hongo Bunkyoku Tokyo 113-0033 JAPAN
Tel: 03-6809-8520
*.. The is its Fukuoka Office
URL: http://www.borderless-japan.com
E-Mail address: info@borderless-japan.com
Import of herbs,
herb teas; rental of shared house/room
Fukuoka
KAZUNARI TAGUCHI,
PRES
Masayoshi Suzuki,
v pres
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 400 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND UP WORTH Yen 20 M
STARTED 2007 EMPLOYES 12
RENTAL OF SHARED HOUSES/ROOMS; IMPORT OF HERBTEAS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established
by Kazunari Taguchi in order to make most of his experience in the subject line
of business. This business specializes
in rental of shared houses/rooms to foreigners; import, wholesale and retail of
herb teas, essential oils, other. Operates
a website shop “AMOMA”. Goods are
imported from Sri Lanka, Philippines, China, other. Clients include schools, foreign companies,
hospitals, other.
Financials are only partially
disclosed.
The sales volume for Feb/2012 fiscal term amounted to Yen 400 million, a
29% up from Yen 310 million in the previous term. Sales rose by the opening of the website
shop. The net profit was posted at Yen 5
million, compared with Yen 1 million a year ago.
For the current term ending Feb 2013
the net profit is projected at Yen 10 million, respectively, on a 13% rise in
turnover, to Yen 450 million.
The financial situation is considered RATHER
WEAK but should be good for MODERATE business engagements.
Date Registered: Mar
2007
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Kazunari Taguchi (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Rental of shared
house/rooms; import, wholesale and retail of herb teas, herbs, essential oils,
others (--100%)
Rents to 2,800 people from 35 countries;
number of houses 41 and beds 441; tenant network members 520 people (As of Aug
2011)
Clients: [Mfrs,
wholesalers] Mercedes-Benz Japan, Davis Financial Service, The Naganuma School
(teaches Japanese language), other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: Tenant network
members for rental.
Imports herbs, herb teas from Sri Lanka,
Philippines, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Hongo)
Relations:
Satisfactory
(In Million
Yen)
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28/02/2013 |
29/02/2012 |
28/02/2011 |
28/02/2010 |
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Annual
Sales |
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450 |
400 |
310 |
200 |
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Recur.
Profit |
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Net
Profit |
|
10 |
5 |
1 |
1 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
|
|
20 |
15 |
14 |
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Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
12.50 |
29.03 |
55.00 |
- - - |
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Current Ratio |
.. |
.. |
.. |
||
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N.Worth Ratio |
.. |
.. |
.. |
||
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N.Profit/Sales |
2.22 |
1.25 |
0.32 |
0.50 |
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Notes: Financials are only partially disclosed. The 28/02/2010 fiscal term is the initial
accounting term
Forecast (or estimated)
figures for the 28/02/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.62 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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 |
|
<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 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.