|
Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MOUNT
SEAVER CO LTD |
|
|
|
|
Registered Office : |
6-6-6 Zushi Zushi City Kanagawa-Pref 249-0006 |
|
|
|
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Country : |
Japan |
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|
|
|
Financials (as on) : |
31.10.2011 |
|
|
|
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Date of Incorporation : |
Nov
2001 |
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|
|
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Com. Reg. No.: |
0210-01-041959 (Kanagawa-Zushi) |
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|
|
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Export
of water filters |
|
|
|
|
No. of Employees : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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
MOUNT SEAVER CO LTD
REGD NAME: Mount Seaver KK
MAIN OFFICE: 6-6-6 Zushi Zushi City Kanagawa-Pref 249-0006
JAPAN
Tel:
046-871-2048 Fax: 046-871-2073
URL: N/A
Export
of water filters
Nil
TAKESHI
INAGE, PRES
Mariko
Inage, dir
Kumiko
Inage, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 110 M
PAYMENTSSlow
CAPITAL Yen 10 M
TREND \SLOW WORTH Yen 22 M
STARTED 2001 EMPLOYES 4
EXPORTER OF WATER FILTERS.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOUL BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject
company was established by Takeshi Inage in order to make most of his
experience in the subject line of business when he was with a trading
firm. This is a trading firm
specializing in export of filters for industrial & drinking waters. Goods are exported to USA, Europe, Asia,
other.
Financial
are only partially disclosed as is the case with family-based companies
The sales volume for Oct/2011
fiscal term amounted to Yen 110 million, a 10% up from Yen 100 million in the
previous term. The operations plunged into
the red to register Yen 1 million net losses for the term, compared with Yen 1
million net profit a year ago.net profit was posted at Yen 1 million, compared
with Yen 1 million net losses a year ago.
Foreign currency exchange losses were incurred.
For the
current term ending Oct 2012 the net profit is projected at Yen 1 million, on a
5% rise in turnover, to Yen 115 million.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements.
Date Registered: Nov 2001
Regd No.: 0210-01-041959 (Kanagawa-Zushi)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Takeshi Inage (100)
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Exports water filters for industrial
& drinking waters (--100%)
Clients: [Mfrs, wholesalers] Exports to USA,
Europe, Asia, other
No. of
accounts: Unavailable
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Izumi-Cosmo Co
Ltd, other
Payment record: Regular
Location:
Business area in Zushi, Kanagawa-Pref.
Office premises at the caption address are owned by Takeshi Inage as his
home residence and maintained satisfactorily.
Bank References:
SMBC
(Fujisawa)
Relations:
Money deposits & transfers only
(In Million Yen)
|
|
|
31/10/2012 |
31/10/2011 |
31/10/2010 |
31/10/2009 |
|
Annual Sales |
|
115 |
110 |
100 |
98 |
|
Recur. Profit |
|
|
|
|
|
|
Net Profit |
|
1 |
-1 |
1 |
-1 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
22 |
23 |
22 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.55 |
10.00 |
2.04 |
-18.33 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.87 |
-0.91 |
1.00 |
-1.02 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/10/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.97 |
|
|
1 |
Rs.89.02 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.