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Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
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Name : |
EIWA TRADING CO LTD |
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Registered Office : |
Joile Hanzomon 4F, 2-19 Hayabusacho Chiyodaku Tokyo 102-0092 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2012 |
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Date of Incorporation : |
December 2010 |
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Com. Reg. No.: |
0100-01-136869 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of food additives, flavoring agent, seasoning, other |
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No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit: |
Yen 2.0 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
EIWA TRADING CO LTD
REGD NAME: Eiwa
Bussan KK
MAIN OFFICE: Joile
Hanzomon 4F, 2-19 Hayabusacho Chiyodaku Tokyo 102-0092 JAPAN
Tel:
03-5213-4061 Fax: 03-5213-4062
URL: http://www.eiwa-trade.co.jp
E-Mail address: (thru the URL)
Wholesale of food
additives, flavoring agent, seasoning, other
Nil
KAZUO UCHIDA, PRES
Etsuko Okajima,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 549 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen
16 M
STARTED 2010 EMPLOYES 5
TRADING FIRM SPECIALIZING IN FOOD ADDITIVES, OWNED BY
EIWA HOLDING CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 2.0 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established on the basis of a division separated from Eiwa Holding Co Ltd (See REGISTRATION). Kazuo Uchida is concurrently pres at the
parent. This is a trading firm
specializing in wholesale of food additives, spices, seasonings, other. Goods are supplied from the parent, Eiwa
Holding Co Ltd. Clients include flavor
mfrs, wholesalers, other, nationwide.
The sales volume for
Apr/2012 fiscal term amounted to Yen 549 million, a 38% down from Yen 885
million in the previous term. This is
referred to the transfer of some operations to the parent and group firms. The recurring profit was posted at Yen 3
million and the net profit at Yen 2 million, respectively, compared with Yen 6
million recurring profit and Yen 3 million net profit, respectively, a year
ago.
For the term that ended
Apr 2013 the recurring profit was projected at Yen 4 million and the net profit
at Yen 3 million, respectively, on a 4% rise in turnover, to Yen 570
million. Final results are yet to be
released.
The financial situation
is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 2.0
million, on 30 days normal terms.
Date Registered: Dec
2010
Regd No.:
0100-01-136869 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Eiwa Holding Co Ltd* (100)
*.. Mfr of food flavors, seasonings,
additives, other, Tokyo, founded 1963, capital Yen 11 million, sales Yen 1,053
million, net profit Yen 21 million, employees 9, pres Kazuo Uchida,
concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales food
spices, seasoning, flavoring agent, fats & oils, emulsifying agents,
essential oils, other (--100%)
Clients: [Mfrs,
wholesalers] T Hasegawa Co, Takada Koryo (Koryo means flavor) Co, Ogawa &
Co, Takasago International Corp, Shiono Koryo Kaisha, Ikeda Ind, Nagaoka Koryo,
Nisshin Foods, Yokoyama Koryo, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Eiwa Holdings Co, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Shin-Marunouchi)
Tokyo Tomin Bank
(Kanda)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/04/2013 |
30/04/2012 |
30/04/2011 |
|
|
Annual
Sales |
|
570 |
549 |
885 |
|
Recur.
Profit |
|
4 |
3 |
6 |
|
Net
Profit |
|
3 |
2 |
3 |
|
Total
Assets |
|
|
330 |
239 |
|
Current
Assets |
|
|
271 |
236 |
|
Current
Liabs |
|
|
257 |
225 |
|
Net
Worth |
|
|
16 |
13 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.83 |
-37.97 |
- - -.. |
|
|
Current Ratio |
|
.. |
105.45 |
104.89 |
|
N.Worth Ratio |
.. |
4.85 |
5.44 |
|
|
R.Profit/Sales |
|
0.70 |
0.55 |
0.68 |
|
N.Profit/Sales |
0.53 |
0.36 |
0.34 |
|
|
Return On Equity |
.. |
12.50 |
23.08 |
|
Notes: The
30/04/2011 is the initial accounting term since inception.
Forecast (or estimated)
figures for the 30/04/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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.