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Report Date : |
17.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SUN-EIGHT TRADING CO LTD |
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Registered Office : |
Heiwa Daiichi Bldg 3F, 1-4-5 Hirakawacho
Chiyodaku Tokyo 102-0093 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
February, 1979 |
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Com. Reg. No.: |
0100-01-0175599 |
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Legal Form : |
Limited Company |
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line of business
: |
Import, wholesale of confectionery/bread
making materials |
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|
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No. of Employees : |
39 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
SUN-EIGHT TRADING CO LTD
Sun Eight Boeki KK
Heiwa Daiichi Bldg
3F, 1-4-5 Hirakawacho Chiyodaku Tokyo 102-0093 JAPAN
Tel:
03-3221-6441 Fax: 03-3221-0443
URL: http://www.sun-eight.com
E-Mail address: info@sun-eight.com
Import, wholesale
of confectionery/bread making materials
Tokyo (warehouse)
MITSUO WAKATABI,
PRES Takashi Kimiyama, ch
Kazuhiko Honda,
dir Shigeto Tamaoki, dir
Koji Yamamoto, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,410 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 46 M
TREND STEADY WORTH Yen 312 M
STARTED 1979 EMPLOYES 39
IMPORTER AND WHOLESALER SPECIALIZING IN CONFECTIONERY & BREAD MAKING
MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Yukio Ibe in order to make most of his ex-perience in the subject line of business. This is a specialized trading firm for import and wholesale of confectionery/bread making materials. Goods are imported widely from France, Italy, Spain, Netherlands, Chile, USA, other. Clients are confectionery makers, bakeries, hotels, department stores, specialty stores, nationwide. Has 50 agent dealers from Hokkaido to Kyushu.
The sales volume for Mar/2012 fiscal term amounted to Yen 2,410 million,
a 3% up from Yen 2,334 million in the previous term. Material price hikes contributed. Demand rose for marron/almond, the firm
says. The net profit was posted at Yen
63 million, compared with Yen 100 million a year ago.
For the current term ending Mar 2013 the net profit is projected at Yen
65 million, on a 4% rise in turnover, to Yen 2,500 million. Demand continues rising.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen46.7 million, on 30 days normal terms.
Date Registered:
Feb 1979
Regd No.:
0100-01-0175599
(Tokyo-Chiyodaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 300,000
shares
Issued:
93,600 shares
Sum: Yen 46.8 million
Major shareholders (%): Itochu Food &
Sales & Marketing Co Ltd* (100)
*..Trading firm
specializing in foods, founded 1973, capital Yen 400 million, sales Yen
144,800 million,
employees 180, pres Takashi Kimiyama
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Imports and wholesales confectionery &
bread making materials (--100%).
(Handling items): chocolates, pastes, frozen fruits, syrups, cocoa powder, butter, jam, nectar, dried fruits, teas, canned fruits, blueberries, almonds, nuts, natural water, seawater salt, forcing bags, other.
Imports from
France, Italy, Spain, Sweden, Germany, Netherlands, Chile, Tahiti, Madagascar,
other.
Clients: [Confectionery mfrs, bakeries, department stores, hotels] Odakyu Department Stores, Iwase Esta Corp, Saint Gentleman Co, Baikal, other. Also distributed through 50 agent dealers nationwide from Hokkaido to Kyushu.
No. of accounts: 3,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from France, Italy, Spain, Germany, Netherlands, Chile, Madagascar, Tahiti, USA, other.
Also from Valona Japan (36.4%), other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Kojimachi-Chuo)
SMBC (Kojimachi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
2,500 |
2,410 |
2,334 |
2,184 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
65 |
63 |
100 |
54 |
|
Total
Assets |
|
|
971 |
939 |
856 |
|
Current
Assets |
|
|
904 |
811 |
718 |
|
Current
Liabs |
|
|
636 |
444 |
441 |
|
Net
Worth |
|
|
312 |
350 |
249 |
|
Capital,
Paid-Up |
|
|
46 |
46 |
46 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.73 |
3.26 |
6.87 |
-9.26 |
|
|
Current Ratio |
|
.. |
142.14 |
182.66 |
162.81 |
|
N.Worth Ratio |
.. |
32.13 |
37.27 |
29.09 |
|
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
2.60 |
2.61 |
4.28 |
2.47 |
|
|
Return On Equity |
.. |
20.19 |
28.57 |
21.69 |
|
Note: Forecast (or
estimated) for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.82 |
|
UK Pound |
1 |
Rs.84.96 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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.