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Report Date : |
06.02.2013 |
IDENTIFICATION DETAILS
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Name : |
Ariga International Co Ltd. |
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Registered Office : |
Higashi-Nihombashi
Towa Bldg, 2-1-6 Nihombashi Chuoku Tokyo 03-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
April, 2004 |
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Com. Reg. No.: |
0100-01-106964 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import and Wholesaler of Outdoor Wear and Packs |
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No. of Employees : |
4 |
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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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
Source
: CIA
ARIGA INTERNATIONAL CO LTD
Ariga International KK
Higashi-Nihombashi Towa Bldg,
2-1-6 Nihombashi Chuoku Tokyo 03-0004 JAPAN
Tel: 03-5825-4815
Fax: 03-5825-4814
*.. Moved to the caption
address in Jul 2012 from the former as given
E-Mail address: info@arg-intl.jp
Import,
wholesale of outdoor wear, packs, other
Nil
Hiroaki
Ariga, Pres
Hiroshi
Soda, v pres
Yen
Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 521 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 20 M
TREND UP WORTH Yen 44 M
STARTED 2004 EMPLOYES 4
TRADING FIRM SPECIALIZING OUTDOOR WEAR & PACKS.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Hiroaki Ariga in
order to make most of his experience in the subject line of business. This is a trading firm specializing in import
and wholesale of outdoor goods: day packs, wear (pullover, parka, shirts,
other), other. Acts as import agents for
US makers. Domestic clients include
sports goods stores, chain stores, supermarkets, other, nationwide.
Financials are only partially disclosed.
The
sales volume for Dec/2011 fiscal term amounted to Yen 521 million, a 26% up
from Yen 412 million in the previous term.
One large-lot volume store was acquired.
The recurring profit was posted at Yen 18 million and the net profit at
Yen 10 million, respectively, compared with Yen 20 million recurring profit and
Yen 10 million net profit, respectively, a year ago.
For
the term that ended Dec 2012 the recurring profit was projected at Yen 20 million
and the net profit at Yen 10 million, respectively, on a 3% rise in turnover,
to Yen 535 million. Final results are
yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date
Registered: Apr 2004
Regd
No.: 0100-01-106964
(Tokyo-Chuoku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued:
400 shares
Sum: Yen
20 million
Major
shareholders (%): Hiroaki
Ariga (66), Hiroshi Soda (23), Tohru Katahira (11)
No. of
shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
Activities: Imports and
wholesales outdoor goods: day packs, all weather clothing (all weather parka,
rolled seam jackets, vests, nylon pullover, shirts), other (--100%)
Import Agent for: Kelty, Sierra
Designs, Ultimate Direction, American Recreation Products Inc (--USA), Dong-In
Entec (Korea).
Clients: [Sports goods
stores, mfrs, wholesalers] Beams Co, Sankyo Sports, United Arrows, Ships Co,
Miyako Sports, Sun River Co, Sehm International, other
No. of
accounts: 300
Domestic areas
of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kelty, Sierra Designs, Ultimate Direction, American Recreation
products Inc (--USA), Dong-In Entec (Korea), Qingdao Jade Textile (China),
other.
Domestically from Itochu Fashion
System, Toray International, other
Payment record: No Complaints
Location: Business area
in Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC
(Asakusabashi)
Resona Bank
(Nihombashi)
Relations:
Satisfactory
(In Million Yen)
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31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual
Sales |
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535 |
521 |
412 |
459 |
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Recur.
Profit |
|
20 |
18 |
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Net
Profit |
|
10 |
10 |
16 |
14 |
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Total
Assets |
|
|
186 |
N/A |
N/A |
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Net
Worth |
|
|
44 |
37 |
26 |
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Capital,
Paid-Up |
|
|
20 |
20 |
20 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.69 |
26.46 |
-10.24 |
-18.04 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
|
23.66 |
.. |
.. |
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N.Profit/Sales |
1.87 |
1.92 |
3.88 |
3.05 |
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Notes:
Financials are only partially disclosed.
Forecast (or
estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.83.97 |
|
Euro |
1 |
Rs.71.88 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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-- |
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.