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Report Date : |
20.07.2013 |
IDENTIFICATION DETAILS
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Name : |
SHIMAMURA TOKYO CORPORATION |
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Registered Office : |
Jingumae Fashion Bldg 6F, 2-6-7 Jingumae Shibuyaku Tokyo 150-0001 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
November, 1993 |
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Com. Reg. No.: |
0132-01-016818 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, retail, wholesale of ladies’ fashion clothing &
accessories |
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No. of Employees : |
80 |
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 |
SHIMAMURA TOKYO
CORPORATION
KK Shimamura Tokyo Corporation
Jingumae Fashion Bldg 6F, 2-6-7 Jingumae Shibuyaku Tokyo 150-0001 JAPAN
Tel: 03-6721-1447 Fax:
03-6721-1448
*.. Moved to the caption address from the one as given
URL: http://www.n11.jp
E-mail address: info@n44.com
Import, retail, wholesale of ladies’ fashion clothing & accessories
Tokyo (4), Osaka, Fukuoka (Tot 15)
Shimamura Paris & Co (France)
KIMIKO SHIMAMURA, PRES
Seiichiro Shimamura, dir
Masaaki Shimamura, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES R/WEAK A/SALES Yen 1,700 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 185 M
STARTED 1993 EMPLOYES 80
IMPORTER, RETAILER AND WHOLESALER SPECIALIZING IN LADIES’ CLOTHING AND
ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS BUT DOUBTFUL FOR: US$10,000,000 / DA TERMS.
The subject company was established by Kimiko Shimamura in order to make
most of her experience in the subject line of business. Seiichiro is her husband. This is a retailer, owned & operated
essentially by the Shimamura family, specializing in ladies’ fashion garments
& accessories, imported mostly from its subsidiary purchasing firm in
Paris. Also handles, scent, music CD’s,
foodstuff, magazines, other. Operates a
total 15 stores in Tokyo (4), Osaka, Fukuoka, other. Goods are also wholesaled.
Financials are only partially disclosed as is the case with a
family-based companies.
The sales volume for Feb/2013 fiscal term amounted to Yen 1,700 million,
a 10% up from Yen 1,550 million in the previous term. This is attributed to the opening of a new
store. The net profit was posted at Yen
25 million, up from Yen 20 million a year ago.
For the current term ending Feb 2014 the net profit is projected at Yen
30 million, on a 6% rise in turnover, to Yen 1,800 million.
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements. The proposed amount, however, is considered
TOO HIGH from the recent financial status.
Date
Registered: Nov 1993
Regd No.: 0132-01-016818
(Tokyo-Shibuyaku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum: Yen
10 million
Major shareholders
(%):
Kimiko Shimamura & families
(--100)
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, retails
and wholesales ladies’ fashion garments, clothing accessories (--70%), scent,
music CD’s, magazines, others (--30%), operating 15 stores.
(Retail 80%; wholesale 20%).
Goods are imported from France, and other E/U countries.
Clients: [Consumers, specialty
stores] Urban Research, Rouge, I’m Enterprise, Passage Corporation, Select
Square, other.
No. of accounts: 100
(Wholesale div)
Domestic areas of
activities: Centered in greater-Tokyo & Osaka
Suppliers: [Mfrs,
wholesalers] Imports from Shimamura Paris (subsidiary), other E/U
countries.
Domestically supplied
from Itochu Corp, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Shibuya)
Mizuho Bank (Aoyama)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
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Annual Sales |
|
1,800 |
1,700 |
1,550 |
1,650 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
30 |
25 |
20 |
20 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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|
185 |
168 |
154 |
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Capital, Paid-Up |
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10 |
10 |
10 |
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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 |
5.88 |
9.68 |
-6.06 |
1.23 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.67 |
1.47 |
1.29 |
1.21 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.91.03 |
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Euro |
1 |
Rs.78.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.