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Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
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Name : |
Asset Co ltd |
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Registered Office : |
Muraki Bldg #201, 1-7-9 Izumicho Chiyodaku
Tokyo 101-0024 |
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Country : |
JAPAN |
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Date of Incorporation : |
July, 1998 |
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Com. Reg. No.: |
0100-01-009899 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale, Retail of Household Goods, Clothing Accessories. |
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No. of Employees : |
12 |
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 (31.03.2011) |
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
ASSET CO LTD
REGD NAME: KK
Asset
MAIN OFFICE: Muraki
Bldg #201, 1-7-9 Izumicho Chiyodaku Tokyo 101-0024 JAPAN
Tel:
03-3865-3618 Fax: 03-3865-3610
*.. The is
its Distribution Center in Ibaraki
URL: http://www.asset-net.co.jp
E-Mail address: info@asset-net.co.jp
Import,
wholesale, retail of household goods, clothing accessories
Toride
(Distribution Center)
Shanghai
(China)
MAKOTO
NAKAYAMA, PRES
Chiyo
Nakayama, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 549 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 48 M
STARTED 1998 EMPLOYES 12
TRADING FIRM SPECIALIZING IN HOUSEHOLD GOODS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Makoto Nakayama in
order to make most of his experience in the subject line of business. This is a family-based trading firm for
import, wholesale and retail (online) of household goods and clothing accessories
(See OPERATION). Goods are imported from
China, India, other
The sales volume for Jan/2012 fiscal term amounted to Yen
549 million, a 5% up from Yen 524 million in the previous term. Imports from China increased. The recurring profit was posted at Yen 6
million and the net profit at Yen 4 million, respectively, compared with Yen 3
million recurring profit and Yen 3 million net profit, respectively, a year
ago.
For the term that ended Jan 2013 the recurring profit was
projected at Yen 6 million and the net profit at Yen 5 million, respectively,
on a 2% rise in turnover, to Yen 560 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 5.2 million, on 30 days normal terms.
Date Registered: Jul 1998
Regd No.: 0100-01-009899 (Tokyo-Chiyodaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Makoto Nakayama (50), Isamu
Sampei (30), Chiyo Nakayama (20)
No. of shareholders: 3
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Imports, wholesales and
retails (online) household goods (slippers, room shoes, mats & mattress,
toiletry goods, others), clothing accessories (bags, shoes, watches, other)
(--100%)
Clients: [Mfrs,
wholesalers] Kokonoe, Funami, Bronti Co, Ringbell Co, Etoile-Kaito, other
No. of
accounts: 200
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Info-Max Co, Marufuku Co, Shichifuku Towel Co, Fuji Industrial Co,
other Imports from China, India, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References:
Asahi
Shinkin Bank (H/O)
Resona Bank
(Ueno)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
|
|
Annual
Sales |
|
560 |
549 |
524 |
522 |
|
Recur.
Profit |
|
6 |
6 |
3 |
-3 |
|
Net
Profit |
|
5 |
4 |
3 |
-4 |
|
Total
Assets |
|
|
301 |
260 |
373 |
|
Current
Assets |
|
|
202 |
169 |
187 |
|
Current
Liabs |
|
|
67 |
51 |
40 |
|
Net
Worth |
|
|
48 |
44 |
40 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.00 |
4.77 |
0.38 |
-13.00 |
|
|
Current Ratio |
|
.. |
301.49 |
331.37 |
467.50 |
|
N.Worth Ratio |
.. |
15.95 |
16.92 |
10.72 |
|
|
R.Profit/Sales |
|
1.07 |
1.09 |
0.57 |
-0.57 |
|
N.Profit/Sales |
0.89 |
0.73 |
0.57 |
-0.77 |
|
|
Return On Equity |
.. |
8.33 |
6.82 |
-10.00 |
|
Notes:
Forecast (or estimated) figures for the 31/01/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.17 |
|
|
1 |
Rs.82.98 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.