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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ARCANE LIMITED |
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Registered Office : |
Morita Bldg, 1-5-6 Nihombashi-Kakigaracho Chuoku Tokyo 103-0014 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
May 1980 |
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Com. Reg. No.: |
0100-01-096932 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of wines,
foodstuffs, centrally from France & Italy |
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No. of Employees : |
115 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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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 |
ARCANE LIMITED
REGD NAME: KK
Arukan (registered in Japanese)
MAIN OFFICE: Morita
Bldg, 1-5-6 Nihombashi-Kakigaracho Chuoku Tokyo 103-0014 JAPAN
Tel:
03-3664-6551 Fax: 03-3660-1421
URL: http://www.arcane-jp.com/
E-Mail address: info@arcane-jp.com
Import,
wholesale of wines, foodstuffs, centrally from France & Italy
Tokyo
(Otaku), Osaka, Fukuoka
Paris,
Milan
HIDEO
MORITA, PRES Takeshi
Kobayashi, v pres
Shigeru
Sugiyama, v pres Tomohiko Noda, v pres
Hisashi
Kawamura, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 9,687 M
PAYMENTS No complaints CAPITAL Yen 70 M
TREND UP WORTH Yen 1,221 M
STARTED 1980 EMPLOYES 115
TRADING
HOUSE SPECIALIZING IN FOODSTUFFS, CENTRALLY FROM ITALY & FRANCE.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUISNESS ENGAGEMENTS
The
subject company was established as a trading house for importing wines & foodstuffs
from France, originally by a French capital.
In Mar 1999, transferred the ownership to Raykay Inc, foodstuffs
wholesaler, at the registered address, owned by Morita Holdings Co Ltd/ In 2005 the firm became a wholly owned
subsidiary of Morita Holdings KK, when the Raykay Inc dissolved in Jun
2005. In Feb 2006, formed a holding
company, Japan Food & Liquor Alliance Inc and became its wholly owned
subsidiary. This is a trading house for
importing and wholesaling high-quality foodstuffs: caviar, foie gras, truffe,
smoked salmon, escargot, spices, virgin olive oils, wine & spirits,
etc. Goods are imported from France
centrally, other from Italy, etc. Has
offices in Paris and Milan. Clients are
major hotel chains, department stores, restaurants, food processors,
confectionery mfrs, etc, nationwide.
The sales volume for Sept/2012
fiscal term amounted to Yen 9,687 million, an 8% up from Yen 9,011 million in
the previous term. The recurring profit
was posted at Yen 169 million and the net profit at Yen 79 million,
respectively, compared with Yen 125 million net profit a year ago.
For
the current term ending Sept 2013 the recurring profit is projected at Yen 180
million and the net profit at Yen 85 million, respectively, on a 3% rise in
turnover, to Yen 10,000 million.
.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 169.0 million, on 30 days normal terms.
Date Registered: May 1980
Regd No.: 0100-01-096932 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,200 shares
Issued:
300 shares
Sum: Yen 70
million
Major shareholders (%):
Japan Food & Liquor Alliance Inc*(100)
*.. Holding company formed in
Feb 2006The subject firm became wholly owned subsidiary
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesalers wines &
spirits, caviar, foie gras, truffe, smoked salmon, ham & sausages,
escargot, cheese & butter, olive oils, jam, spices, pasta, bread, wine
vinegar, other foodstuffs and foodstuff ingredients (--100%). Goods are imported from France and Italy.
Clients: [Restaurants, hotels, department
stores] Hotel Okura, Palace Hotel, Hotel New Otani, Keio Plaza Hotel, Daiichi
Hotel, Maxim de Paris, Takashimaya, Kokubu Ltd (food processor), Jalux Inc (JAL
group), Iwase Esta Corp, other.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from
France, Italy, Austria, Spain, other.
Payment record: No
complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Resona
(Dojima)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
Annual
Sales |
|
10,000 |
9,687 |
9,011 |
8,832 |
|
Recur.
Profit |
|
180 |
169 |
|
|
|
Net
Profit |
|
85 |
79 |
125 |
144 |
|
Total
Assets |
|
|
4,215 |
4,704 |
4,245 |
|
Current
Assets |
|
|
4,077 |
4,584 |
4,014 |
|
Current
Liabs |
|
|
1,547 |
2,121 |
3,121 |
|
Net
Worth |
|
|
1,221 |
1,058 |
1,029 |
|
Capital,
Paid-Up |
|
|
70 |
70 |
70 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.23 |
7.50 |
2.03 |
27.94 |
|
|
Current Ratio |
|
.. |
263.54 |
216.12 |
128.61 |
|
N.Worth Ratio |
.. |
28.97 |
22.49 |
24.24 |
|
|
R.Profit/Sales |
|
1.80 |
1.74 |
.. |
.. |
|
N.Profit/Sales |
0.85 |
0.82 |
1.39 |
1.63 |
|
|
Return On Equity |
.. |
6.47 |
11.81 |
13.99 |
|
Notes:
Forecast (or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
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.