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Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
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Name : |
SAEKI JIICHORO SHOTEN, KK |
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Registered Office : |
45-1 Ippongi Toyama 930-0904 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
February 1975 |
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Com. Reg. No.: |
(Toyama-Toyama) 000974 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesaler of paints |
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No. of Employees : |
13 |
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 : |
Usually Correct |
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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 |
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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.
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Source : CIA |
SAEKI JIICHORO SHOTEN, KK
KK Saeki Jiichirou
Shouten
45-1 Ippongi
Toyama 930-0904 JAPAN
Tel:
076-451-2002 Fax: 076-451-2003
URL: Nil
Wholesale
of paints
Nil
YOSHITERU
SAEKI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 510 M
PAYMENTSUsually Correct CAPITAL Yen
30 M
TREND UP WORTH Yen 107 M
STARTED 1975 EMPLOYES 13
WHOLESALER
OF PAINTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Yoshiteru Saeki in order to revive a shell company established by his father. This is a trading firm specializing in wholesaling paints & coatings. Goods are supplied from major paint makers.
Financials are only partially disclosed as is the case with
family-based companies.
The sales volume for Dec/2011 fiscal term amounted to Yen 510 million, a 25% up from Yen 409 million in the previous term. Sales of paints & coatings rose after the Great North Japan Earthquake in Mar/2011. The net profit was posted at Yen 6 million, compared with Yen 3 million a year ago. .
For the term that ended Dec 2012 the net profit was projected at Yen63 million, on a 3% rise in turnover, to Yen 525 million. The final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Feb 1975
Regd No.: (Toyama-Toyama) 000974
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued: 60,000 shares
Sum: Yen 30
million
Major shareholders (%):
Yoshiteru Saeki & families (--100)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales paints & coatings (--100%)
Clients: [Mfrs, wholesalers] YKK, Miyakoshi Kogyosho, Oriental Kogyo, Hokuriku Electric Ind, Nippon Parts Center, Komatsu NTC, other
No. of accounts: 300
Domestic areas of activities: Centered in Toyama-Pref and vicinities
Suppliers: [Mfrs, wholesalers] Nippon Paints, Nihon Tokushu Toryo Co, Kuboko Paint Co, Tohpe Corp, Mino Group Co, other
Payment record: Usually Correct
Location: Business area in Toyama. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Shoko Chukin Bank (Toyama)
Hokuriku Bank (H/O)
Relations: Satisfactory
(In Million Yen)
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Terms
Ending: |
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31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual
Sales |
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525 |
510 |
409 |
391 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
6 |
6 |
3 |
3 |
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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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|
107 |
101 |
98 |
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Capital,
Paid-Up |
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|
30 |
30 |
30 |
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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 |
2.94 |
24.69 |
4.60 |
-14.81 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.14 |
1.18 |
0.73 |
0.77 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
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UK Pound |
1 |
Rs.82.05 |
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Euro |
1 |
Rs.69.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.