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Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
AIKU INC |
|
|
|
|
Registered Office : |
Aeon Tower Bldg Annex 4F, 1-4 Nakase
Mihamaku Chiba 261-0023 |
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|
|
|
Country : |
Japan |
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|
|
|
Financials (as on) : |
28.02.2013 |
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|
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Date of Incorporation : |
January 1979 |
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|
|
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Com. Reg. No.: |
0400-01-057028
(Chiba-Mihamaku) |
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|
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of apparel, foods, household goods |
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No. of Employees : |
295 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
|
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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic growth
continued after 2000, but the economy has fallen into recession three times
since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
AIKU INC
Aiku KK
Aeon Tower Bldg
Annex 4F, 1-4 Nakase Mihamaku Chiba 261-0023 JAPAN
Tel:
043-310-9211
Fax: 043-310-9251
E-Mail address: fukuir@aicincjp.com
Import,
wholesale of apparel, foods, household goods, other
Nil
China,
India, Europe, USA, other
MASAYUKI
YAMAMOTO, PRES
Masato
Sekino, mgn dir Shuichi
Matsuda, dir
Kozo
Kida, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 90,542 M
PAYMENTS No Complaints
CAPITAL Yen 230 M
TREND UP WORTH Yen 6,406 M
STARTED 1979 EMPLOYES 295
TRADING FIRM SPECIALIZING IN APPAREL, FOODS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established on the basis of a trading division separated from Aeon Co Ltd (See REGISTRATION). This is a trading firm for import and
wholesale of apparel, foods, household goods, other (See OPERATION). Goods are
imported from Europe, USA, China, other.
Goods are supplied to the parent, Aeon Co Ltd, and its group firms.
The sales volume for
Feb/2012 fiscal term amounted to Yen 90,542 million, a 28% up from Yen 70,670
million in the previous term. This is
attributed to new stores opened by the parent during the term. The recurring profit was posted at Yen 2,515
million and the net profit at Yen 1,450 million, respectively, compared with
Yen 919 million recurring profit and Yen 446 million net profit, respectively,
a year ago.
For the term that
ended Feb 2013 the recurring profit was projected at Yen 2,600 million and the
net profit at Yen 1,500 million, respectively, on a 5% rise in turnover, to Yen
95,000 million. Final results are yet to
be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jan 1979
Regd No.: 0400-01-057028 (Chiba-Mihamaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.7 million shares
Issued:
438,000 shares
Sum: Yen 230 million
Major shareholders (%): Aeon Co Ltd* (67), Aiku Inc
(33)
No. of shareholders: 2
*.. Aeon Co Ltd,
top-ranked operator of general merchandise stores, Chiba, founded 1926, listed Tokyo
S/E, capital Yen 199,054 million, sales Yen 5,206,132 million, operating profit
Yen 195,690 million, recurring profit Yen 212,260 million, net profit Yen
66,750 million, total assets Yen 4,398,835 million, net worth Yen 971,157
million, employees 81,483, pres Motoya Okada
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Imports and wholesales apparel, foods, household goods, others
(--100%)
(Handling Items):
Apparel: sweaters, polo shirts, trainers, men’s & women’s suits, pullovers,
jeans, pants, blouse, shorts, pajamas, shoes, socks, gloves, hats & caps,
other
Foods: mushrooms, broccoli, cabbages, onions, asparagus, bamboo shoots,
cherries, oranges, meat, salmon, confectionery, canned goods, other
Household goods: curtains, rugs & carpets, beddings,
glassware, kitchenware, sports goods, outdoor goods, gardening tools &
supplies, bet foods, cosmetics, other
Clients: [Mfrs, wholesalers] Aeon Co Ltd, Izumiya Co, other
No. of accounts: 2 (Direct clients)
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Emiya International, Tasmania Foodlot Pty Ltd,
Hakuyo Co, other
Payment record: No
Complaints
Location: Business area in Chiba. Office
premises at the caption address are owned by the parent, Aeon Co Ltd, and
maintained satisfactorily.
Bank References:
MUFG
(H/O)
Mizuho
Corporate Bank (Uchisaiwaicho)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2013 |
29/02/2012 |
28/02/2011 |
28/02/2010 |
|
|
Annual
Sales |
|
95,000 |
90,542 |
70,670 |
82,046 |
|
Recur.
Profit |
|
2,600 |
2,515 |
919 |
2,154 |
|
Net
Profit |
|
1,500 |
1,450 |
446 |
1,265 |
|
Total
Assets |
|
|
27,174 |
19,408 |
21,775 |
|
Current
Assets |
|
|
26,392 |
18,678 |
20,875 |
|
Current
Liabs |
|
|
19,018 |
10,635 |
13,208 |
|
Net
Worth |
|
|
6,406 |
4,879 |
4,749 |
|
Capital,
Paid-Up |
|
|
230 |
230 |
230 |
|
Div.P.Share(¥) |
|
|
58.00 |
87.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.92 |
28.12 |
-13.87 |
-34.85 |
|
|
Current Ratio |
|
.. |
138.77 |
175.63 |
158.05 |
|
N.Worth Ratio |
.. |
23.57 |
25.14 |
21.81 |
|
|
R.Profit/Sales |
|
2.74 |
2.78 |
1.30 |
2.63 |
|
N.Profit/Sales |
1.58 |
1.60 |
0.63 |
1.54 |
|
|
Return On Equity |
.. |
22.64 |
9.14 |
26.64 |
|
Notes:
Forecast (or estimated) figures for the 28/02/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.