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Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
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Name : |
PERFECT EYES CO LTD |
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Registered Office : |
Akasaka Business Place 2F, 2-14-5 Akasaka
Minatoku Tokyo 107-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2012 |
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Date of Incorporation : |
July 1992 |
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Com. Reg. No.: |
0104-01-100384
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Travel agency, tour operator |
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No. of Employees : |
31 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 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 |
PERFECT EYES CO LTD
KK Perfect Eyes
Akasaka Business
Place 2F, 2-14-5 Akasaka Minatoku Tokyo 107-0052 JAPAN
Tel:
03-6230-2835
Fax: 03-6230-2836
*.. Moved to the caption address in 2012 from the former as given
URL: N/A
Travel
agency, tour operator
Ministry
of Land #1541
Osaka,
Nagoya, other (Tot 4)
MIKIO
ASAKAWA, PRES
Hiroaki
Edamatsu, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 2,287 M
PAYMENTS slow
CAPITAL Yen 123 M
TREND SLOW WORTH Yen (-) 112 M
STARTED 1992 EMPLOYES 31
TRAVEL AGENCY.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Toshiyuki Uenishi as a
travel agency, Jiyu Club KK (Jiyu means Free).
In 2005, tied with KK Land Eye and renamed as captioned. This is a travel agency, tour operator,
other. 30% of the sales are for
individual travelers, others include business firms, travel agencies, other
Financials are only partially disclosed.
The sales volume for Jan/2012 fiscal term amounted to Yen 2,287 million, a 2% down from Yen 2,330 million in the previous term. The Great North Japan Earthquake that occurred in Mar 2011 affected sales negatively. The recurring profit was posted at Yen 1 million and the net profit at Yen 1 million, respectively, compared with Yen 1 million net profit a year ago.
For the that ended Jan 2013 the recurring profit was projected at Yen 3 million and the net profit at Yen 3 million, respectively, on a 3% rise in turnover, to Yen 2,350 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: Jul 1992
Regd No.: 0104-01-100384 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
9,840 shares
Issued:
2,460 shares
Sum: Yen 123 million
Major shareholders (%): Mikio Asakawa (66.1), Mizuho
Capital (10.8), Fidia Venture Capital (3)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Travel agency,
tour operator, other (--100%)
Clients: [Mfrs,
wholesalers] Travellers (30%), Hankyu Travel, HIS, Tabi Kobo, IAC Travel, Club
Tourism, other
No. of accounts: Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] United Tours, Travel Plaza International, Hankyu Travel, hotels,
bus companies, other
Payment record: slow
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Resona Bank (Akasaka)
MUFG (Kanda)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/10/2013 |
31/10/2012 |
31/10/2011 |
31/10/2010 |
|
Annual
Sales |
|
2,350 |
2,287 |
2,330 |
2,100 |
|
Recur.
Profit |
|
3 |
1 |
.. |
.. |
|
Net
Profit |
|
3 |
1 |
1 |
1 |
|
Total
Assets |
|
|
279 |
N/A |
N/A |
|
Net
Worth |
|
|
-112 |
-1 |
-2 |
|
Capital,
Paid-Up |
|
|
123 |
123 |
123 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.75 |
-1.85 |
10.95 |
-27.13 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
-40.14 |
.. |
.. |
|
|
N.Profit/Sales |
0.13 |
0.04 |
0.04 |
0.05 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/01/2013 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.