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Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
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Name : |
WELLSTON TRADING CORPORATION |
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Registered Office : |
WTC House 2F, 2-11-10 Hiratsuka Shinagawaku Tokyo 142-0051 |
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Country : |
Japan |
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Date of Incorporation : |
November 2002 |
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Com. Reg. No.: |
0109-02-024592 (Tokyo-Setakayaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export of spare/repair parts & equipment for ships, power plants, automobiles |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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 |
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Risk Category |
ECGC
Classification |
|
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
Source
: CIA
WELLSTON TRADING CORPORATION
REGD NAME: KK
Wellston
MAIN OFFICE: WTC House
2F, 2-11-10 Hiratsuka Shinagawaku Tokyo 142-0051 JAPAN
Tel:
03-6421-5966 Fax: 03-6421-5977
*.. Registered at:
1-10-20 Okusawa Setagayaku Tokyo
E-Mail address: info@wellston.jp
Import, export of
spare/repair parts & equipment for ships, power plants, automobiles
Nil
KENYA ISHII, PRES
Chiemi Ishii, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 100 M*
PAYMENTS UNKNOWN
CAPITAL Yen 3 M
TREND SLOW WORTH Yen
10 M
STARTED 2002 EMPLOYES 4
*.. Dec/2009
figures only, otherwise not disclosed
TRADING FIRM SPECIALIZING IN SHIP’S PARTS & EQUIPMENT.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was
established originally in 1935 as Kyowa Works Corp for selling spare parts for
automobiles, construction machineries and ships’ engines. In Nov 2002, reconstructed and started a new
company as captioned by Ken’ya Ishii.
This is a trading firm specializing in supplying spare/repair parts
& equipment for ships/vessels: air compressors, boilers, cranes, diesel
engines, other (See OPERATION). The products are also for use in power plants,
automobiles & construction machines.
Exports account for 70% of the total sales.
Financials are not
disclosed, except Yen 100 million for Dec/2009 Fiscal Term only. No outside sources have the updated
figures. The firm declined to divulge
them.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements. Financials are not
disclosed or rejected to disclose.
Date Registered: Nov
2002
Regd No.:
0109-02-024592 (Tokyo-Setakayaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240 shares
Issued: 60 shares
Sum: Yen 3 million
Major
shareholders (%): Kenya Ishii (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales repair parts & equipment for ships/vessels: air compressors,
air conditioners, refrigeration, boilers, cranes, diesel engines, electric
equipment, filters, governors, hatch covers, heat exchangers, pumps, purifiers,
turbo chargers, tachometers, thermometers, valves, other (--100%).
Exports
(70%)
Clients: Ship owners,
shipbuilders, other
No. of accounts:
200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Daikin, Mitsubishi Heavy Ind, Yanmar, Macgregor-Kayaba, other.
Payment record: Unknown
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Tokyo Tomin
(Kuhonbutsu)
Sawayaka Shinkin
Bank (Togoe-Ginza)
Relations: Money
deposits and transfers only
(In Million Yen)
NOT DISCLOSED AND UNAVAILABLE
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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 |
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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 |
|
<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.