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Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
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Name : |
IORI CORPORATION (NOT IROI) |
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Registered Office : |
2-8-5 Sendagaya Shibuyaku Tokyo 151-0051 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
February, 1984 |
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Com. Reg. No.: |
0110-01-002095 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, retail of women’s apparel, accessories |
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No. of Employees : |
71 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – 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 |
IORI CORPORATION
(NOT IROI)
KK Iori
2-8-5 Sendagaya Shibuyaku Tokyo 151-0051 JAPAN
Tel: 03-3470-2588
Fax: 03-3470-4099
URL: Error!
Hyperlink reference not valid.
E-Mail address: (thru the URL)
Import, retail of women’s apparel, accessories
29 stores nationwide, including 12 franchisees)
Shanghai (China)
HIROSHI NAGAI, PRES
Eriko Asayama, dir
Takayuki Takeuchi, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES R/WEAK A/SALES Yen 1,022 M
PAYMENTS SLOW CAPITAL Yen 50 M
TREND SLOW WORTH Yen (-) 172 M
STARTED 1984 EMPLOYES 71
RETAIL STORE OPERATOR OF WOMEN’S APPAREL.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS
The subject company was established by Hiroshi Nagai in order to make
most of his experience in the subject line of business. This is a retail shop operator of women’s
apparel & accessories, operating 29 stores nationwide (including 12
franchisees). 12 in-shop stores at department stores. Goods are imported from India, Hong Kong,
Italy, China, Korea, other
The sales volume for Dec/2011 fiscal term amounted to Yen 1,022 million,
a 10% down from Yen 1,141 million in the previous term. The operations continued in the red to post
Yen 122 million net losses, compared with Yen 133 million net losses a year
ago. The losses come from the losses on
derivatives transactions, as reported.
For the term that ended Dec 2012 the operations were projected to come
back to profitability but still limited to a minimum amount post-taxes, on a 3%
rise in turnover, to Yen 1,050 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: Feb
1984
Regd No.: 0110-01-002095
(Tokyo-Shibuyaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4,000 shares
Issued:
1,000 shares
Sum: Yen
50 million
Major shareholders
(%): Hiroshi Nagai
(96), Norio Shinozaki (2), Eriko Asayama (1), other
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports,
wholesales and retails women’s apparel & accessories (--100%)
Clients: [Mfrs,
wholesalers, consumers] Mitsubishi Corp, World Corp, Kanematsu Textiles, Tobu
Department Store, San-Ei International, Marui Corp, other
No. of accounts: 300
(wholesales div)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toko Shoji Co, Tamurakoma & Co, other
Imports from Korea, Hong Kong, India, Italy, China, other
Payment record: Slow
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Aoyama)
Resona Bank (Shibuya)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual Sales |
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1,050 |
1,022 |
1,141 |
1,831 |
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Recur. Profit |
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0 |
1 |
-109 |
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Net Profit |
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0 |
-122 |
-133 |
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Total Assets |
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|
575 |
648 |
899 |
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Current Assets |
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|
507 |
576 |
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Current Liabs |
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|
366 |
381 |
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Net Worth |
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-172 |
-49 |
84 |
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Capital, Paid-Up |
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|
50 |
50 |
50 |
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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 |
2.74 |
-10.43 |
-37.68 |
-8.13 |
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Current Ratio |
|
.. |
138.52 |
151.18 |
.. |
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N.Worth Ratio |
.. |
-29.91 |
-7.56 |
9.34 |
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R.Profit/Sales |
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0.00 |
0.10 |
-9.55 |
.. |
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N.Profit/Sales |
0.00 |
-11.94 |
-11.66 |
0.00 |
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Notes: Forecast (or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
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Euro |
1 |
Rs.70.49 |
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 |
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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.