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Report Date : |
09.01.2013 |
IDENTIFICATION DETAILS
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Name : |
MASA CORPORATION |
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Registered Office : |
PMO Nihombashi-Ohdenmacho 9F, 6-8 Nihombashi-Ohdenmacho Chuoku Tokyo 103-0011 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
October 2007 |
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Com. Reg. No.: |
0100-01-126714 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of GPS caddy system for golfers |
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No. of Employees : |
13 |
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 (31.03.2011) |
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
MASA CORPORATION
REGD NAME: KK
MASA
MAIN OFFICE: PMO Nihombashi-Ohdenmacho
9F, 6-8 Nihombashi-Ohdenmacho Chuoku
Tokyo 103-0011
JAPAN
Tel:
03-3662-5290 Fax: 03-3662-2802
E-Mail address: (thru the URL)
Import, wholesale
of GPS caddy system for golfers
Nil
Taiwan, Korea,
China (Mfg agents/purchasing agents)
(subcontracted)
MASASHI SUENAGA,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 280 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 28 M
TREND SLOW WORTH Yen 73 M
STARTED 2007 EMPLOYES 13
TRADING FIRM SPECIALIZING IN GPS CADDY SYSTEM.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established by Masashi Suenaga in order to make most of his experience when he
was with Toshiba Corp. This is a trading
firm, with mfg division, for import and wholesale of GPS caddy systems for
golfers. MASA is short for Media and
Space Adventure, says the firm. Goods
are imported from subcontracted mfrs in Taiwan, Korea and China. Clients include golf clubs, golf shops,
other.
Financials are only
partially disclosed.
The sales volume for Sept/2011 fiscal term
amounted to Yen 280 million, an 8% down from Yen 304 million in the previous
term. The net profit was posted at Yen
15 million, similarly in the previous year.
For the term that ended
Sept 2012 the net profit was projected at Yen 16 million, on a 7% rise in
turnover, to Yen 300 million. Final
results are yet to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct
2007
Regd No.:
0100-01-126714 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,240 shares
Issued: 560 shares
Sum: Yen 28 million
Major
shareholders (%): Masashi Suenaga (75), Chieko Suenaga (15)
No. of shareholders: 2
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Manufactures
(subcontracted), imports and wholesales GPS caddy systems for golfers (golf
watch, green on mini, other) (--100%).
Clients: [Mfrs,
wholesalers] J-Osawa Group Co, Victoria Sports, Arigaen Golf, Yodabashi Camera,
other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from Taiwan (80%), Korea, China, other
Payment record: No Complaint
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Asahi Shinkin Bank
(Toyoshima)
Mizuho Bank
(Zushi)
Relations:
Satisfactory
(In Million
Yen)
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30/09/2012 |
30/09/2011 |
30/09/2010 |
30/09/2009 |
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Annual
Sales |
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300 |
280 |
304 |
326 |
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Recur.
Profit |
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Net
Profit |
|
16 |
15 |
15 |
44 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
|
|
73 |
58 |
43 |
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Capital,
Paid-Up |
|
|
28 |
28 |
28 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
7.14 |
-7.89 |
-6.75 |
- - - |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
5.33 |
5.36 |
4.93 |
13.50 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 30/09/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.33 |
|
|
1 |
Rs.89.05 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.