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Report Date : |
04.07.2013 |
IDENTIFICATION DETAILS
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Name : |
WATARI CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April 1974 |
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Com. Reg. No.: |
0124-01-001869 (Tokyo-Fuchu) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of fruits & vegetables |
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No. of Employees : |
104 |
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 – 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 |
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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 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
WATARI CO LTD
REGD NAME: KK
Watari
MAIN OFFICE: Fuchu
South Bldg 12F, 1-40 Miyamachi Fuchu Tokyo-Metrop 183-0023 JAPAN
Tel:
042-369-8455 Fax: 042-369-8457
*.. The is its
Kobe Office, as given
E-Mail address: (thru the URL)
Import, wholesale
of fruits & vegetables
Sapporo, Okinawa,
Kobe, other (Tot 6)
China,
Philippines, Thailand
(subcontracted)
KEITA WATARI, PRES Takezo Watari, ch
Tohru Watari,
s/mgn dir Hideko Watari, mgn
dir
Hiroki Kawada, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 15,052 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 98 M
TREND STEADY WORTH Yen
696 M
STARTED 1974 EMPLOYES 104
IMPORTER OF FRUITS & VEGETABLES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established by Takezo Watari in order to make most of his experience in the
subject line of business. Keita is his
son. This is a family-based trading firm
specializing in import and wholesale of fruits & vegetables. Goods are imported widely from USA, China,
Thailand, Philippines, other. Clients
include chain stores, consumers’ coops, other.
The sales volume for
Mar/2013 fiscal term amounted to Yen 15,052 million, an almost similar amount
of Yen 15,024 million in the previous term.
The recurring profit was posted at Yen 107 million and the net profit at
Yen 66 million, respectively, compared with Yen 177 million recurring profit
and Yen 110 million net profit, respectively, a year ago.
For the current term
ending Mar 2014 the recurring profit is projected at Yen 110 million and the
net profit at Yen 70 million, respectively, on a 3% rise in turnover, to Yen
15,500 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr
1974
Regd No.:
0124-01-001869 (Tokyo-Fuchu)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 784,000 shares
Issued: 196,000 shares
Sum: Yen 98 million
Major
shareholders (%): Takezo Watari (30), Hideko Watari (15), Company’s Treasury Stock (14), Tadahiko
Otani (11), Keita Watari (10)
No. of shareholders: 12
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales fruits & vegetables (--100%)
(Imports):
asparagus,
broccoli, okura, beans, mushrooms, paprika, onion, corns, pumpkins, carrots,
black berry, blue berry, cherry, goose berry, apple mango, Philippine mango,
peach mango, raspberry, apples, grapes, other
Clients: [Mfrs,
wholesalers] San-A Corp, Tobu Store, Consumers’ Coop Sapporo, Tokyo City Seika
Co, Ito-Yokado, Maruetsu Co, Yokohama Marunaka Seika Co, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Queens Crown, Grower Direct Marketing, M&B Produce Inc, Oregon
Harvest Trading Inc, Triex Corp, Vital Berry Marketing, Momack Produce Pty Ltd,
Aozora Trading, Yunnan Jiang Panang Sheng Yuan Edibility Co Ltd, Gyeohg Nam
Trading Inc, Greenstar Produce Phils Inc, Zen-Noh, Watari Seika, Sapporo
Central Market, Yokohama Marunaka Seika, other
Payment record: No Complaints
Location: Business area in
Fuchu, Tokyo-Metrop. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Mitaka)
MUFG
(Fuchu-Ekimae)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual
Sales |
|
15,500 |
15,052 |
15,024 |
13,891 |
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Recur.
Profit |
|
110 |
107 |
177 |
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Net
Profit |
|
70 |
66 |
110 |
31 |
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Total
Assets |
|
|
3,059 |
3,180 |
2,809 |
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Current
Assets |
|
|
2,252 |
2,387 |
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Current
Liabs |
|
|
1,507 |
1,740 |
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Net
Worth |
|
|
696 |
638 |
535 |
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Capital,
Paid-Up |
|
|
98 |
98 |
98 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.98 |
0.19 |
8.16 |
9.70 |
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Current Ratio |
|
.. |
149.44 |
137.18 |
.. |
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N.Worth Ratio |
.. |
22.75 |
20.06 |
19.05 |
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R.Profit/Sales |
|
0.71 |
0.71 |
1.18 |
.. |
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N.Profit/Sales |
0.45 |
0.44 |
0.73 |
0.22 |
|
|
Return On Equity |
.. |
9.48 |
17.24 |
5.79 |
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Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
|
1 |
Rs.91.07 |
|
Euro |
1 |
Rs.77.95 |
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 |
|
-- |
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.