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Report Date : |
09.08.2013 |
IDENTIFICATION DETAILS
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Name : |
MIYAMA SHOKAI CO LTD (MIYAMA HOUSE) |
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Registered Office : |
2-4-16 Nakagoe Nagano 381-0003 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
September 1988 |
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Com. Reg. No.: |
(Nagano-Nakagoe) 003485 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of prefabricated 2x4 housing kits, exterior materials |
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No. of Employees : |
18 |
RATING & COMMENTS
|
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 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 |
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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
MIYAMA SHOKAI CO LTD (MIYAMA HOUSE)
REGD NAME: Miyama
House KK Miyama Shokai
MAIN OFFICE: 2-4-16
Nakagoe Nagano 381-0003 JAPAN
Tel:
026-236-9788 Fax: 026-236-9766
URL: http//:www.miyama-house.co.jp
E-mail: (thru the URL)
Import, wholesale
of prefabricated 2x4 housing kits, exterior materials
Nil
MASAYOSHI DENDA,
PRES
Mutsuko Denda, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES WEAK A/SALES Yen 290 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 20 M
TREND SLOW WORTH Yen (-) 11 M
STARTED 1988 EMPLOYES 18
IMPORTER OF
PREFABRICATED HOUSING KITS.
FINANCIAL SITUATION CONSIDERED WEAK BUT
SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was
established originally in 1966 by father of Masayoshi Denda, on his account,
and was incorporated in 1988 by Masayoshi Denda. This is a family-based trading firm, owned
and operated essentially by the Denda family, for import and wholesale of
prefabricated 2x4 housing kits & housing members, exterior materials,
other. Executes earth works, too. Also engaged in real estate management &
broking.
The sales volume for
Feb/2013 fiscal term amounted to Yen 290 million, a 5% down from Yen 306
million in the previous term. Housing
industry was slow to recover. The recurring loss was posted at Yen 1 million
and the net profit at Yen 2 million, respectively, compared with Yen 1 million
recurring loss and Yen 1 million net profit, respectively, a year ago. .
For the current
term ending Feb 2014 the recurring profit is projected at Yen 5 million and the
net profit at Yen 3 million, respectively, on a 3% rise in turnover, to Yen 300
million. Extra demand is arising for the
after-earthquake works.
The financial situation
is considered WEAK but should be good for MODERATE business engagements.
Date Registered:
Sept 1988
Regd No.: (Nagano-Nakagoe) 003485
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20 million
Major shareholders (%): Masayoshi Denda
& families (--100)
No. of
shareholders: 3
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Imports and
wholesales prefabricated 2x4 housing kits & members, exterior materials,
other (--100%).
Clients: House builders,
consumers, business firms, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in Nagano-Pref & vicinities
Suppliers: [Mfrs,
wholesalers] Tanpei Corporation, Amenix, Miyashita, Sakamoto, Sajiki Co, other.
Payment record: Slow but correct
Location: Business area in
Nagano. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Nagano-Ken Shinkin
Bank (Nakagoe)
Nagano Shinkin
Bank (Yoshida)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
|
|
Annual
Sales |
|
300 |
290 |
306 |
371 |
|
Recur.
Profit |
|
5 |
1 |
1 |
-2 |
|
Net
Profit |
|
3 |
2 |
1 |
1 |
|
Total
Assets |
|
|
285 |
224 |
215 |
|
Current
Assets |
|
|
260 |
198 |
188 |
|
Current
Liabs |
|
|
135 |
111 |
154 |
|
Net
Worth |
|
|
-11 |
-14 |
-14 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.45 |
-5.23 |
-17.52 |
1.64 |
|
|
Current Ratio |
|
.. |
192.59 |
178.38 |
122.08 |
|
N.Worth Ratio |
.. |
-3.86 |
-6.25 |
-6.51 |
|
|
R.Profit/Sales |
|
1.67 |
0.34 |
0.33 |
-0.54 |
|
N.Profit/Sales |
1.00 |
0.69 |
0.33 |
0.27 |
|
Notes: Forecast
(or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.54 |
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.