|
Report Date : |
10.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLS JAPAN KK |
|
|
|
|
Registered Office : |
Kumano Shrine Bldg 3F, 2-2-22 Jingumae Shibuyaku Tokyo 150-0001 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Date of Incorporation : |
March 2009 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Operator of membership shopping community site “Glamour Sales” |
|
|
|
|
No. of Employees : |
95 |
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 |
|
Payment Behaviour : |
No complaints |
|
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 |
|
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
GLS
JAPAN KK
REGD NAME: GLS
Japan KK
MAIN OFFICE: Kumano
Shrine Bldg 3F, 2-2-22 Jingumae Shibuyaku Tokyo 150-0001 JAPAN
Tel:
03-3479-5529 Fax: 03-3479-5526
E-Mail address: customer-service@glamour-sales.com
Operator of
membership shopping community site “Glamour Sales”
Kotoku
(Distribution Center)
Singapore (parent)
OSTAN GAERU, PRES
(Phonetically spelled only)
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,800 M*
PAYMENTS NO COMPLAINTS CAPITAL Yen
50 M
TREND UP WORTH Yen 50 M*
STARTED 2009 EMPLOYES 95
MEMBERSHIP SHOPPING SITE OPERATOR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Glamour Sales Singapore Pte Ltd
as its marketing arm in Japan. This is an
operator of membership shopping community “Glamour Sales”, selling brand goods
(See OPERATION). Brands goods are fashion, bags & shoes,
watch & Jewelry, D&G, home & kitchen, other, approx 1,000 goods.
Financials are consolidated by the Singapore parent and not disclosed
after Dec/2011 fiscal term.
The sales volume for Dec/2011 fiscal term amounted to Yen 1,800 million,
a 140% up from Yen 750 million in the previous term. The number of membership clients rose. The net profit is not disclosed. Business is seen expanding continuously.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar
2009
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,002
shares
Issued: 1,002
shares
Sum: Yen 50.1 million
Major
shareholders (%): Glamour Sales
Singapore Pte Ltd (100%
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Operator of membership
sales community site “Glamour Sales”, selling brand goods, others (--100%)
(Handling
Brands & Items)
Women’s
& Men’s Fashion: RALPH LAUREN, ROBERTO CAVALLI, JOHN GALLIANO, HUGO
BOBS, LAPERLA, TRIUMPH, etc
Bags
& Shoes: LONGCHAMP, ROBERTO CAVALLI, FURLA, NINE WEST, HUNTER, DR SCHLL, etc
Watch
& Jewelry: SWAROVSKI, D&G, FOLLI FOLLIE, LUMINOX, etc
Home
& Kitchen: LE CREUSET, NESPRESSO, FISSLER, RIEDEL, etc
Clients: Membership
consumers
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Long champ Japan, United Arrows, Diesel Japan, Beams, Adidas
Japan, other
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption address
are leased and maintained satisfactorily.
Bank References: SMBC (Marunouchi)
Relations:
Satisfactory
(In Million
Yen)
NOT DISCLOSED AND UNAVAILABLE.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.18 |
|
|
1 |
Rs.100.01 |
|
Euro |
1 |
Rs.83.82 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.