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Report Date : |
22.09.2012 |
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IDENTIFICATION DETAILS
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Name : |
SAERA CORPORATION LTD |
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Registered Office : |
Shoto Raj Bldg 4F, 1-26-10 Shoto Shibuyaku Tokyo 150-0046 |
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Country : |
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Financials (as on) : |
31.05.2011 |
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Date of Incorporation : |
June 1991 |
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Com. Reg. No.: |
0110-01-008950 (Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Export of used vehicles, construction equipment, machine tools |
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No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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
SAERA CORPORATION LTD
REGD NAME: KK
Saera Corporation
MAIN OFFICE: Shoto
Raj Bldg 4F, 1-26-10 Shoto Shibuyaku Tokyo 150-0046 JAPAN
Tel: 03-5453-3001
Fax: 03-5453-3006
E-Mail address: raj@saera.co.jp
Export of used
vehicles, construction equipment, machine tools
Nil
RAJ KUMAR MALHOTRA,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 30 M
PAYMENTS SLOW CAPITAL Yen 20 M
TREND SLOW WORTH Yen
120 M
STARTED 1991 EMPLOYES 3
EXPORTER OF USED VEHICLES, CONSTRUCTION MACHINES, OTHER.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established
by Raj Kumar Malhotra, an Indian resident, in order to make most of his
experience in the subject line of business.
This is a trading firm specializing in exporting used vehicles,
construction machines, machine tools, game machines, other. Exports to India, New Zealand, Australia,
other.
Financials are only partially
disclosed.
The sales volume for May/2011 fiscal term amounted to Yen 30 million, a
70% down from Yen 100 million in the previous term. This is referred to the great damage by the Great
East Japan Earthquake that occurred in March 2011, disrupting supply chains,
delays, other. The operations plunged
into the red to post Yen 9 million net losses, compared with Yen 5 million net
profit a year ago.
For the term that ended May 2012 the
operations were projected to come back to profitability to post Yen 10 million
net profit, on a 266% rise in turnover, to Yen 110 million. Final results are yet to be released.
The financial situation is considered RATHER
WEAK but should be good for MODERATE business engagements.
Date Registered: Jun 19911.8
Regd No.:
0110-01-008950
(Tokyo-Shibuyaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20 million
Major shareholders (%): R Kumar Malhotra
(90%), Eriko Yamamoto (10)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports used
vehicles, used construction machines & equipment, used machine tools, used
game machines, others (--100%)
Clients: [Mfrs,
wholesalers] Exports to New Zealand, Australia, India, Republic of Cyprus,
other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
USA, JAA, Toyota-Usec Co, Nissan Used Car Center, Honda Utech Co, other
Payment record: Slow
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Shibuya)
Mizuho Bank
(Ogikubo)
Relations: Money
deposits and transfers only
(In Million Yen)
|
|
|
31/05/2012 |
31/05/2011 |
31/05/2010 |
31/05/2009 |
|
Annual
Sales |
|
110 |
30 |
100 |
300 |
|
Recur.
Profit |
|
|
|
|
|
|
Net Profit |
|
10 |
-9 |
5 |
7 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
120 |
129 |
124 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
266.67 |
-70.00 |
-66.67 |
-80.00 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
9.09 |
-30.00 |
5.00 |
2.33 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/05/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.90 |
|
|
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.