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Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
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Name : |
GRAPE & CO LTD |
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Registered Office : |
2-94 Motomachi Nakaku |
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Country : |
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Financials (as on) : |
31.07.2011 |
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Date of Incorporation : |
July, 1967 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Retail of ladies’ clothing & accessories |
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No. of Employees : |
30 |
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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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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 |
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
GRAPE & CO LTD
YK Grape
2-94 Motomachi Nakaku Yokohama 231-0861 JAPAN
Tel: 045-661-1221 Fax:
045-661-0008
URL: N/A
Retail of ladies’ clothing & accessories
Yokohama, Kawasaki, Chigasaki, Kamakura, Fukushima, Shizuoka, Hiratsuka,
Tokyo, Odawara, Yokosuka (Tot 10)
KOJI OKAJIMA, PRES
Junko Nakajima, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 900 M
PAYMENTS NO COMPAINTS CAPITAL Yen 15 M
TREND SLOW WORTH Yen 776 M
STARTED 1967 EMPLOYES 30
RETAILER OF WOMEN’S CLOTHING & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Koji Okajima in order to make
most of his
experience in the subject line of business. This is a retailer operating 10 stores in
Yokohama and greater-Tokyo area, selling women’s clothing and accessories. The main store is located in the business
center of Yokohama, enjoying good sales.
Goods are imported from India, China, Korea, other.
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Jul/2011 fiscal term amounted to Yen 900 million, a
7% down from Yen 969 million in the previous term. The net profit was posted at Yen 35 million,
compared with Yen 40 million a year ago.
High Yen eroded earnings and profits in Yen terms.
For the term that ended ending Jul 2012 the net profit was projected at
Yen 35 million, on a 2% rise in turnover, to Yen 920 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 16.2 million, on normal 30 days terms.
Date Registered: Jul
1967
Legal Status: Private Limited Company (Yugen Kaisha)
Regd Capital: Yen 15 million
Major shareholders
(%):
Koji Okajima and families (100)
No. of
shareholders: 4
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Operates 10 chain
stores in Yokohama and Tokyo area, selling women’s & children’s clothing and
clothing accessories (--100%).
(Retail 90%,
wholesale 10%)
Clients: [Consumers,
wholesalers] Takamura, Papillon, other.
No. of accounts: Unavailable
Domestic areas of activities: Centered in Yokohama and Tokyo areas.
Suppliers: [Mfrs,
wholesalers] Imports from India, China, Korea, other.
Domestically supplied from Beat Five, Yofukuya, other.
Payment record: No Complaints
Location: Business area in
Yokohama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Yokohama-Chuo)
Bank of Yokohama (Motomachi)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/07/2012 |
31/07/2011 |
31/07/2010 |
31/07/2009 |
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Annual Sales |
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920 |
900 |
969 |
1,025 |
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Recur. Profit |
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Net Profit |
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35 |
35 |
40 |
45 |
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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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776 |
752 |
724 |
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Capital, Paid-Up |
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15 |
15 |
15 |
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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 |
2.22 |
-7.12 |
-5.46 |
-3.85 |
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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 |
3.80 |
3.89 |
4.13 |
4.39 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/07/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.63 |
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1 |
Rs.86.17 |
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Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.