MIRA INFORM REPORT

 

 

Report Date :

30.10.2012

 

IDENTIFICATION DETAILS

 

Name :

YAMASHIN INC 

 

 

Registered Office :

2292 Sembacho Mito Ibaraki-Pref 310-0851

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

June 1982

 

 

Com. Reg. No.:

0500-01-002695 (Ibaraki-Mito)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Chain store operator of DIY, furniture, pet shop

 

 

No. of Employees :

1,046 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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




Status :

Good

Payment Behaviour :

Regular

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

(31.03.2012)

Current Rating

(30.06.2012)

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

 

Company name 

 

YAMASHIN INC

 

 

REGD NAME

 

KK Yamashin

 

 

MAIN OFFICE

 

2292 Sembacho Mito Ibaraki-Pref 310-0851 JAPAN

Tel: 029-305-1111     Fax: 029-305-1122

 

URL:                 www.yamashin-grp.co.jp 

E-mail:             (thru the URL to each division)    

 

ACTIVITIES

 

Chain store operator of DIY, furniture, pet shop, other

 

 

BRANCHES

 

37 stores in Ibaraki, Fukushima, Tochigi

 

 

OFFICER(S

 

ICHIRO YAMAGUCHI, PRES      Yoko Yamaguchi, s/mgn dir                                                       

Kenji Yamaguchi, dir                  Kazuko Yamaguchi, dir

Masanori Kashimura, dir Hiroaki Ohsone, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 54,810 M

PAYMENTS                  REGULAR         CAPITAL           Yen 30 M

TREND             STEADY           WORTH            Yen 30,992 M

STARTED                     1982                 EMPLOYES      1,046

 

 

COMMENT    

 

DIY GOODS CHAIN STORE OPERATOR 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

 

HIGHLIGHTS

 

This is an old-established company dating back to 1869 when a certain Yamaguchi started selling furniture, on his account.  Incorporated in 1982, the firm has been succeeded by his descendants.  This is an operator of chain stores, wholly owned and operated by the Yamaguchi family: DIY goods, furniture, pet shops, car garage, other.  Stores are located centrally in Ibaraki-Pref, covering Fukushima & Tochigi prefectures.  Operates a total 37 chain stores: 12 furniture/interior shops & 23 DIY goods stores, other.  Tops in this specific field in Ibaraki-Pref.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as from the 31/03/2010 fiscal term.

 

The sales volume for Mar/2012 fiscal term amounted to Yen 54,810 million, a 10% up from Yen 49,905 million in the previous term.  Demand rose substantially after the Great East Japan Earthquake, particularly for DIY goods, consumer goods (for emergency measures), other.  Closed down 2 stores.  The net profit was posted at Yen 2,538 million, compared with Yen 1,447 million a year ago.  .

 

For the current term ending Mar 2013 the net profit is projected at Yen 2,600 million, on a 6% rise in turnover, to Yen 58,000 million.  Business is seen expanding steadily and continuously.   .

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Jun 1982

Regd No.:         0500-01-002695 (Ibaraki-Mito)

Legal Status:   　 Limited Company (Kabushiki Kaisha)

Authorized:      　 240,000 shares

Issued:             　 60,000 shares

Sum:                　 Yen 30 million

 

Major shareholders (%): Yamashin Kosan* (99.7), Ibaraki Furniture Assn (0.3)

* Holding company

 

No. of shareholders: 2

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Chain store operator: 12 furniture/interior goods stores & 23 DIY/car accessories/pet/other stores, centrally in Ibaraki-Pref (29 stores), and neighboring prefectures of Fukushima (5), Tochigi (3) (--100%).

 

Clients: Consumers

No. of accounts: Unavailable

Domestic areas of activities: Centered in Ibaraki-Pref and neighboring prefectures

 

Suppliers: [Mfrs, wholesalers] Kao Corp, Empire Motor, Iris Oyama, Casio Computer, Paltac, Shiseido, Mitsubishi Stationery, Gemco Mito Co, other

 

Payment record: Regular

 

Location: Business area in Mito City, Ibaraki-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Joyo Bank (H/O)

Mizuho Bank (Mito)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

　

　

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

　

58,000

54,810

49,905

49,423

Recur. Profit

　

　

　

　

　

Net Profit

　

2,600

2,538

1,447

1,457

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

30,992

29,216

28,204

Capital, Paid-Up

　

　

30

30

30

Div.P.Share(¥)

　

　

25.00

25.00

25.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.82

9.83

0.98

-2.53

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

4.48

4.63

2.90

2.95

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2013 fiscal term. 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.81

UK Pound

1

Rs.86.52

Euro

1

Rs.69.50

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.