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Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
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Name : |
ASCA CO LTD |
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Registered Office : |
1-2-10 Shin-Nishi Chigusaku Nagoya
464-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
June 1971 |
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Com. Reg. No.: |
1800-01-003322 (Nagoya-Chigusaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and wholesaler
of (partially retails) artificial flowers, Christmas gift items, interior
goods, foliage plants, operates flower arrangement classes |
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No. of Employees : |
45 |
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 |
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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 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 |
ASCA CO LTD
KK Asca
1-2-10 Shin-Nishi
Chigusaku Nagoya 464-0003 JAPAN
Tel:
052-772-5216 Fax: 052-772-7707
URL: www.asca-1971.co.jp
E-mail: info@asca-1971.co.jp
Import,
wholesale of artificial flowers, earthenware, flower arrangement classes
Yatomi
(Aichi), Nagano, Tokyo (showroom)
Nagoya
(Studio); Yatomi (Distribution Center)
TAKUTO
INOUE, PRES
Takaaki Yoshioka, dir
Takashi
Ueda, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,800 M
PAYMENTS No Complaints
CAPITAL Yen 13 M
TREND UP WORTH Yen 1,862 M
STARTED 1971 EMPLOYES 45
IMPORTER
OF ARTIFICIAL FLOWERS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Hiroyasu Yamada on obtaining
import agreement from Caffco International Inc, USA, for importing
horticultural equipment & supplies.
This is a trading firm for import and wholesale of artificial flowers centrally,
horticultural equipment and supplies.
Goods are essentially supplied and imported from Caffco International,
USA. In Mar 2008 the firm was acquired
by King Jim Co Ltd, mfr of filing systems & electronic stationery, Tokyo
(See REGISTRATION), and became its
wholly owned subsidiary. Started to
operate flower arrangement classes, Web shops operation of “Asca” brand. Clients are flower shops, chain stores,
consumers, other.
Financials are only partially disclosed as from the 31/03/2008 fiscal
term.
The sales volume for Mar/2012 fiscal term amounted to Yen 1,800 million,
a similar amount in the previous term.
The net profit was posted at Yen 33 million, compared with Yen 35
million a year ago. .
For the term that ended Mar 2013 the net profit was projected at Yen 35
million, on a 3% rise in turnover, to Yen 1,850 million. These figures are believed to be done. Final results are yet to be released.
The financial situation is considered maintained FAIR and good for ORDINARY
business engagements.
Date Registered: Jun 1971
Regd No.: 1800-01-003322 (Nagoya-Chigusaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 104,000 shares
Issued: 26,000 shares
Sum: Yen 13 million
Major shareholders (%): King
Jim Co Ltd* (100)
*.. Largest mfr of filing systems and electronic stationery, Tokyo,
founded 1948, listed Tokyo S/E, capital Yen 1,978 million, sales Yen 29,953
million, operating profit Yen 1,010 million, recurring profit Yen 1,003
million, net profit Yen 613 million, total assets Yen 26,877 million, net worth
Yen 16,543 million, employees 2,338, pres Akira Miyamoto
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales (partially retails) artificial flowers, Christmas gift items,
interior goods, foliage plants, operates flower arrangement classes, other
(--100%)
Clients: [Flower shops,
chain stores] Tokyo Hands, Bunyado Co, Okamoto Zokaten Co (Zoka means Artificial
flower), Matsumura Kogei, Oribe Ltd, other
No. of accounts: 300
Domestic areas of activities:
Centered in greater-Nagoya
Suppliers: [Mfrs] Imports
wholly from Caffco International, USA
Payment record: No Complaints
Location: Business area in
Nagoya. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Resona
Bank (Nagoya-Ekimae)
MUFG
(Nagoya-Ekimae)
Relations:
Satisfactory
(In Million Yen)
|
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31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
1,850 |
1,800 |
1,800 |
1,550 |
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Recur.
Profit |
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Net
Profit |
|
35 |
33 |
35 |
30 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
|
|
1,862 |
1,839 |
1,814 |
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Capital,
Paid-Up |
|
|
13 |
13 |
13 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.78 |
0.00 |
16.13 |
-8.82 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.89 |
1.83 |
1.94 |
1.94 |
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Notes:
Financials are only partially disclosed as from the 31/03/2008 fiscal term
Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.36 |
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UK Pound |
1 |
Rs.89.69 |
|
Euro |
1 |
Rs.77.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.