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Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
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Name : |
TERRA MOTORS CORPORATION |
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Registered Office : |
Saito Bldg 5F, 34-5 Udagawacho Shibuyaku Tokyo 150-0042 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April, 2010 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of electric motorcycles |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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.
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Source : CIA |
TERRA MOTORS
CORPORATION
Terra Motors KK
Saito Bldg 5F, 34-5 Udagawacho Shibuyaku Tokyo 150-0042 JAPAN
Tel: 03-6674-9558 Fax:
03-6690-4419
URL: http://www.terra-motors.co.jp
E-Mail address: info@terra-motors.co.kjp
Import, export, wholesale of electric motorcycles
Niigata, Sendai, Kobe
China, Vietnam (--factories)
TOHRU TOKUSHIGE, PRES
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 200 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
217 M
TREND UP WORTH Yen 242 M
STARTED 2010 EMPLOYES 15
TRADING FIRM SPECIALIZING IN ELECTRIC MOTORCYCLES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Tohru Tokushige in order to make
most of his experience in the subject line of business. This is a specialized mfr of electric
motorcycles: scooters, tricycles, others.
Goods are manufactured at factories in China and Vietnam.
Financials are only partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 200 million, a
doubled up from Yen 100 million for the initial accounting term in the previous
year. Electric tricycles for senior
people were in much demand. The net
profit was posted at Yen 10 million, compared with Yen 5 million a year ago.
For the current term ending Mar 2013 the net profit is projected at Yen
10 million, on a 5% rise in turnover, to Yen 210 million. Business is seen expanding continuously.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr
2010
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 4,340 shares
Issued:
4,340 shares
Sum: Yen
217 million
Major shareholders (%): Tohru Tokushige (40), Hiroshi Ikeda, Masaru
Murai, Shuichi Matsuda, Inter Wars, Well Investment, Mizuho Capital, Nobuyuki
Idei, other
No. of
shareholders: 15
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures electric
motorcycles: scooters, tricycles, others (--100%)
Clients: [Mfrs,
wholesalers, DIY stores] Yodobashi Camera, Aeon Super Center, DCM Holdings,
Komeli Corp, Sunday Co, Encho Co, Kanseki Co, Bic Camera, Nippon Car Solutions
Co, other
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from subcontracted factories in China, Vietnam, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Resona Bank (Ichioka)
Relations: Satisfactory
(In Million Yen)
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31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual Sales |
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210 |
200 |
100 |
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Recur. Profit |
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Net Profit |
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10 |
10 |
5 |
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Total Assets |
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N/A |
N/A |
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Net Worth |
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|
242 |
232 |
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Capital, Paid-Up |
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217 |
217 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.00 |
100.00 |
- - - |
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Current Ratio |
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.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
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N.Profit/Sales |
4.76 |
5.00 |
5.00 |
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Notes: Financials are only partially disclosed. The 31/03/2011 is the initial accounting
term from the inception.
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.97 |
|
|
1 |
Rs.83.17 |
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Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.