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Report Date : |
21.08.2013 |
IDENTIFICATION DETAILS
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Name : |
SUNROSE CO LTD |
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Registered Office : |
1-15 Yaotomicho Gamagori Aichi-Pref
443-0055 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
October 1958 |
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Com. Reg. No.: |
1803-01-011029
(Aichi-Gamagori) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of curtains, store curtains & textile goods |
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No. of Employees : |
51 |
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 |
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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 – 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 |
SUNROSE CO LTD
Sunrose KK
1-15 Yaotomicho
Gamagori Aichi-Pref 443-0055 JAPAN
Tel:
0533-68-1151 Fax: 0533-68-1154
URL: www.sunregent.co.jp
E-mail: info@sunregent.co.jp
Mfg of
curtains
Tokyo,
Gamagori
Shanghai
(China), Indonesia
HIROTAKA
SAKAKIBARA, PRES
Yukihiro
Sakakibara, ch
Yuriko
Sakakibara, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 4,475 M
PAYMENTSNo Complaints CAPITAL Yen 30 M
TREND SLOW WORTH Yen 707 M
STARTED 1978 EMPLOYES 51
MFR OF
CURTAINS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Shigeharu Sakakibara,
in order to make most of his experience in the subject line of business. Hirotaka is his grandson. This is a family-based mfr of curtains, store
curtains, other.
Goods are manufactured at Chinese subsidiary maker and
subcontracted makers domestically.
Clients include major chain stores, wholesalers, other.
Financials are only partially disclosed as is often the case with family-based companies.
The sales volume for Mar/2013 fiscal term amounted to Yen 4,475 million, a 7% down from Yen 4,794 million in the previous term. The subcontracted maker factories (5) in Hokuriki area were damaged and destroyed by the Great North Japan Earthquake in Mar 2011. The net profit was posted at Yen 95 million, compared with Yen 228 million a year ago. .
For the current term ending Mar 2014 the net profit is projected at Yen 100 million, on a 3% rise in turnover, to Yen 4,600 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct 1958
Regd No.: 1803-01-011029 (Aichi-Gamagori)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders (%): Shigeharu Sakakibara (30),
Yukihiro Sakakibara (25), Hirotaka Sakakibara (25), Haruo Sakakibara (20)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures curtains, store curtains (--70%), textile goods, other (--30%)
Clients: [Chain stores, wholesalers] Joyful Honda, Sun Regent Co, Tokyu Hands, Ito-Yokado, Nafco Corp, Japan Consumers’ Co-Operative Union, Tokyo Interior Corp, Nitori Co, Arc Land Sakamoto Co, Shimachu Co, Loft Co, Ito-Yokado, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Toray International, Toyota Tsusho Corp, Mitsubishi Rayon, Sun Rose Shanghai, Toyobo Co, Toyoshima & Co, Toso Company, Yutaka Co, Arakawa Lace Ind, Sun Rose Shanghai, Komatsu Seiren Co, other..
Payment record: No Complaints
Location: Business area in Gamagori City, adjacent to Nagoya City. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Nagoya
Bank (Gamagori)
MUFG
(Gamagori)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual
Sales |
|
4,600 |
4,475 |
4,794 |
4,305 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
100 |
95 |
228 |
98 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
707 |
641 |
482 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.79 |
-6.65 |
11.36 |
5.00 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
2.17 |
2.12 |
4.76 |
2.28 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.73 |
|
UK Pound |
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.85.07 |
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.