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Report Date : |
27.08.2013 |
IDENTIFICATION DETAILS
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Name : |
MARINE TRADING LTD |
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Registered Office : |
1-71-Higashi-Miyashita Minumaku Saitama
337-0012 |
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Country : |
Japan |
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Date of Incorporation : |
September 2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Exporter of used paper, used cars, importer of rock salt from Pakistan |
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No. of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Unknown |
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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 |
Company
name
MARINE TRADING LTD
Marine Trading
Limited YK
1-71-Higashi-Miyashita
Minumaku Saitama 337-0012 JAPAN
Tel:
048-682-1815 Fax: 048-682-1815
URL: N/A
Export
of used paper, used cars, other
Nil
Pakistan
Z
CHODORI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 190 M
PAYMENTSUnknown
CAPITAL Yen 3 M
TREND UP WORTH Yen 19 M
STARTED 2004 EMPLOYES 3
TRADING FIRM FOR EXPORTING USED PAPER, USED CARS, OTHER.
FINANCIAL SITUATION CONSIDERED
RATHE WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Z Chodori in order to make most
of his experience in the subject line of business. This is a trading firm for exporting used
paper, used automobiles to Pakistan, Mid East, and other Asian countries. It also started to import rock salt from
Pakistan.
Financials are not disclosed and we have obtained the following figures
from the owner directly.
The sales volume for Aug/2012 fiscal term amounted to Yen 190 million, a
16% up from Yen 164 million in the previous term. The import of rock salt contributed to the
sales growth. The net profit was posted
at Yen 2 million, compared with Yen 1 million a year ago.
For the current term ending Aug 2013 the net profit is projected at Yen
5 million, on a 10% rise in turnover, to Yen 210 million. The weaker Yen will raise sales in Yen terms.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
Date Registered: Sept
2004
Legal Status:
Private Limited Company (Yugen60 Kaisha)
Authorized:
60 shares
Issued:
60 shares
Sum: Yen 3 million
Major shareholders
(%): Z Chodori (100)
No. of shareholders: 1
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports used
paper, used cars; imports rock salt from Pakistan, other (--100%)
Clients: [Mfrs,
wholesalers] Exports to Pakistan, Middle East, other Asian countries,
other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in Saitama-Pref
Suppliers: Auto makers,
wholesalers, other (not mentioned)
Payment record: Unknown
Location: Business area in
Saitama. Office premises at the caption
address are owned by Z Chodori as his private residence, and maintained
satisfactorily.
Bank
References:
Local Bank (Saitama)
Relations:
Money deposits and transfers only
(In Million Yen)
NOT DISCOSED AND UNAVAILABLE
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.23 |
|
UK Pound |
1 |
Rs.100.01 |
|
Euro |
1 |
Rs.85.93 |
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.