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Report Date : |
06.09.2012 |
IDENTIFICATION DETAILS
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Name : |
IZUMI CORPORATION CO LTD |
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Registered Office : |
2-170-1 Uchihara Ogaki Gifu-Pref 503-0936 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
October 1980 |
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Com. Reg. No.: |
2000-01-016852 (Gifu-Ogaki) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export of steel products |
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No. of Employees : |
15 |
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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 |
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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 |
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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
IZUMI CORPORATION CO LTD
REGD NAME: KK
Izumi Shoji
MAIN OFFICE: 2-170-1
Uchihara Ogaki Gifu-Pref 503-0936 JAPAN
Tel:
0584-89-5080 Fax: 0584-89-8057
URL: http://www.siyokoto.en.ec21.com
E-Mail address: izumicorp.zhang@gmail.com
Import, export of
steel products
Nil
At the caption
address (welding/bending works)
YOSHIHIRO
TADOKORO, PRES
Hiroshi Tadokoro,
s/mgn dir
Yuko Tadokoro, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 656 M
PAYMENTS SLOW CAPITAL Yen 20 M
TREND SLOW WORTH Yen 24 M
STARTED 1980 EMPLOYES 15
TRADING FIRM SPECIALIZING IN STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established
by father of Yoshihiro Tadokoro in order to make most of his experience in the
subject line of business. This is a
family-based trading firm, with mfg division, for import, export and wholesale
of steel products: coils, sheets, plates, other. Goods are processed at its own yard for
bending, welding, other works. Clients
include steel products mfrs, wholesalers, other.
Financials are only partially
disclosed as is the case with family-based companies.
The sales volume for Jun/2011 fiscal term amounted to Yen 656 million, a
25% down from Yen 550 million in the previous term. Exports were hurt by the strong Yen, reducing
earnings & profits in Yen terms. The
operations continued in the red to post Yen 25 million net losses for the term,
compared with Yen 18 million net losses a year ago.
For the term that ended Jun 2012 the
operations were projected to come back to profitability but still limited to a
minimum amount post-taxes, on a 4% rise in turnover, to Yen 680 million. Final results are yet to be released.
The financial situation is considered RATHER
WEAK but should be good for MODERATE
business engagements. Max credit
limit is estimated at Yen 12.0 million, on 30 days normal terms.
Date Registered: Oct
1980
Regd No.:
2000-01-016852 (Gifu-Ogaki)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued: 40,000 shares
Sum: Yen 20 million
Major
shareholders (%): Yoshihiro Tadokoro and families (--100)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales steel products: steel coils, steel scraps, steel carbon/alloy,
aluminum coils, stainless steel coils, steel plates & sheets, other
(--100%)
Clients: [Mfrs,
wholesalers] Ozaki Co, Sobajima Seikan Co, Sanwa Jitsugyo Co, Takahashi Metal
Ind, Sanko Shoji, other
No. of accounts:
300
Domestic areas of
activities: Centered in greater-Nagoya
Suppliers: [Mfrs,
wholesalers] Sanwa Jitsugyo Co, Meisei Koki, Takahashi Metal Ind, Ibiden Co,
Nishinippon Usami Corp, other
Payment record: Slow
Location: Business area in
Ogaki. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Jyuroku Bank
(Ogaki-Minami)
Relations:
Satisfactory
(In Million
Yen)
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30/06/2012 |
30/06/2011 |
30/06/2010 |
30/06/2009 |
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Annual
Sales |
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680 |
656 |
550 |
431 |
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Recur.
Profit |
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Net
Profit |
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0 |
-25 |
-18 |
1 |
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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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24 |
49 |
67 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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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 |
3.66 |
19.27 |
27.61 |
51.23 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.00 |
-3.81 |
-3.27 |
0.23 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 30/06/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.89 |
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|
1 |
Rs.88.63 |
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Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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.