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Report Date : |
06.08.2013 |
IDENTIFICATION DETAILS
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Name : |
CASAPIEL FUKUMOTO CO LTD |
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Registered Office : |
3-9-5 Kotobuki Taitoku Tokyo 111-0042 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
April 1970 |
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Com. Reg. No.: |
0105-02-014334 (Tokyo-Taitoku) |
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Legal Form : |
Private Limited Company (Yugen) |
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Line of Business : |
Import, wholesale of tanned leather, leather products |
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No. of Employees : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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
CASAPIEL FUKUMOTO CO LTD
REGD NAME: YK
Casapiel Fukumoto
MAIN OFFICE: 3-9-5
Kotobuki Taitoku Tokyo 111-0042 JAPAN
Tel:
03-3843-8911 Fax: 03-3843-8913
URL: N/A
Import, wholesale of
tanned leather, leather products
Nil
HIROAKI FUKUMOTO,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 134 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 6 M
TREND SLOW WORTH Yen
32 M
STARTED 1970 EMPLOYES 1
TRADING FIRM SPECIALIZING IN TANNED LEATHER.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was
established by Hiroaki Fukumoto in order to make most of his experience in the
subject line of business. This is a
one-man operated trading firm for import and wholesale of tanned leather,
leather products, other. Goods are
imported from Italy, Spain France, Pakistan, Tunisia, other. Goods are wholly supplied to Ibiza Co Ltd, a
handbag maker, Tokyo.
Financials are only
partially disclosed.
The sales volume for Jun/2012 fiscal term amounted
to Yen 134 million, a 15% down from Yen 158 million in the previous term. High Yen hurt imports, reducing revenues and
profits in Yen terms. The operations
plunged into the red to post Yen 8 million net losses for the term, compared
with Yen 3 million net profit a year ago.
For the term that ended
Jun 2013 the net profit was projected at Yen 3 million, on a 4% rise in
turnover, to Yen 140 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: Apr
1970
Regd No.:
0105-02-014334 (Tokyo-Taitoku)
Legal Status: Private Limited Company (Yugen)
Regd Capital: Yen 6
million
Major
shareholders (%): Hiroaki Fukumoto (100)
Nothing
detrimental is known as to his commercial morality.
Activities: Imports and
wholesales tanned leather, leather products, others (--100%)
Clients: [Mfr] Ibiza Co
Ltd (handbag maker)
No. of accounts: 1
Domestic areas of activities:
Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Imports from Spain, Italy, France, Pakistan, Tunisia, other.
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Kaminarimon)
Asahi Shinkin Bank
(Asakusa-Kaminarimon)
Relations:
Satisfactory
(In Million Yen)
|
|
|
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
Annual
Sales |
|
140 |
134 |
158 |
210 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
3 |
-8 |
3 |
1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
32 |
40 |
37 |
|
Capital,
Paid-Up |
|
|
6 |
6 |
6 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.48 |
-15.19 |
-24.76 |
0.00 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
2.14 |
-5.97 |
1.90 |
0.48 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 30/06/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.82 |
|
|
1 |
Rs.92.96 |
|
Euro |
1 |
Rs.80.73 |
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.