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Report Date : |
02.04.2013 |
IDENTIFICATION DETAILS
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Name : |
MARUBENI FASHION LINK LTD |
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Registered Office : |
Yoyogi 1-chome Bldg 4F, 1-22-1 Yoyogi Shibuyaku Tokyo 151-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April, 1982 |
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Com. Reg. No.: |
0110-01-052802 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of textile, yarn, clothing, clothing
accessories |
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No. of Employees : |
230 |
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
MARUBENI FASHION
LINK LTD
Marubeni Fashion Link KK
Yoyogi 1-chome Bldg 4F, 1-22-1 Yoyogi Shibuyaku Tokyo 151-0053 JAPAN
Tel: 03-3370-9161 Fax:
03-3370-9130
URL: http://www.mfl.com/
E-Mail address: info@mfl.com
Import, export, wholesale of textile, yarn, clothing, clothing
accessories
Osaka
TAKASHiI KOHNO, PRES Assumu
Saitoh, dir
Akihiro Yamamoto, dir Stsushi
Saitoh, dir
Katsuhisa Yabe, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen
69,488 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
450 M
TREND STEADY WORTH Yen 4,051 M
STARTED 1982 EMPLOYES 230
IMPORTER & EXPORTER OF TEXTILES, WHOLLY OWNED BY MARUBENI CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGGEMENTS.
The subject company was established on the basis of a textile division
separated from Marubeni Corp (See REGISTRATION). This is a trading firm for import and export
of textiles, textile goods, accessories.
In 2008, OEM operation division was transferred from the parent. Clients include major apparel mfrs,
wholesalers, other, nationwide.
Financials are consolidated by the parent, Marubeni Corp, and only
partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 69,488
million, a 1% up from Yen 68,700 million in the previous term. The recurring profit was posted at Yen 1,727
million and the net profit at Yen 905 million, compared with Yen 900 million
net profit a year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 1,750 million and the net profit at Yen 910 million, respectively, on a
3% rise in turnover, to Yen 71,500 million.
Business is seen steadily expanding.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr
1982
Regd No.: 0110-01-052802
(Tokyo-Shibuyaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 900,000 shares
Issued:
900,000 shares
Sum: Yen
450 million
Major shareholders
(%):
Marubeni Corp*(100)
*.. Major general trading house, listed Tokyo SE, founded 1949, capital
Yen 262,686 million, turnover Yen 10,584,393 million, operating profit Yen
157,315 million, recurring profit Yen 260,983 million, net profit Yen 172,125
million, total assets Yen 5,379,620 million, net worth Yen 906,575 million,
employees 4,198, pres Teruo Asada
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales fabrics, yarn, clothing for women (60%), men (20%), children
(10%), clothing accessories, others (10%).
Clients: [Mfrs,
wholesalers] San-Ei International, Impact 21, Aba House International, Value
Planning, Nishimatsuya Chains, Five Foxes Co, Bay Cruise, Tomorrow Land, other
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Takisada Osaka, Takisada Nagoya, Kyoei Iryo, Spirits, Teijin Ltd,
Toray, Sun Top, Matsuoka Trading, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Yokoyamacho)
SMBC (Asakusabashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
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Annual Sales |
|
71,500 |
69,488 |
68,700 |
64,434 |
|
Recur. Profit |
|
1,750 |
1,727 |
|
|
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Net Profit |
|
910 |
905 |
900 |
1,000 |
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Total Assets |
|
|
24,776 |
N/A |
N/A |
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Current Assets |
|
|
24,091 |
|
|
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Current Liabs |
|
|
20,517 |
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Net Worth |
|
|
4,051 |
N/A |
3,194 |
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Capital, Paid-Up |
|
|
450 |
450 |
450 |
|
Div.P.Share(¥) |
|
|
452.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.90 |
1.15 |
6.62 |
71.64 |
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Current Ratio |
|
.. |
117.42 |
.. |
.. |
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N.Worth Ratio |
.. |
16.35 |
.. |
.. |
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R.Profit/Sales |
|
2.45 |
2.49 |
.. |
.. |
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N.Profit/Sales |
1.27 |
1.30 |
1.31 |
1.55 |
|
|
Return On Equity |
.. |
22.34 |
.. |
31.31 |
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Notes: Financials are only partially disclosed as from the 31/03/2010
fiscal term.
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
---- |
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.