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Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
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Correct Name : |
SOEI CO LTD |
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Registered Office : |
3-17-37 Kamikita Hiranoku Osaka 547-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
September 1978 |
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Com. Reg. No.: |
1200-01-020659
(Osaka-Hiranoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import of furniture |
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No. of Employees : |
01 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
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
SOEI CO LTD
KK Soei
3-17-37 Kamikita
Hiranoku Osaka 547-0001 JAPAN
Tel: 06-6791-2285
Fax: 06-6791-5981
URL: www.sogokagu.co.jp (Of the parent)
E-mail: info@sogokagu.co.jp
Import
of furniture
Nil
TADAHIRO
SHIGEMI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 320 M
PAYMENTS No
Complaints CAPITAL Yen 10 M
TREND UP WORTH Yen 132 M
STARTED 1978 EMPLOYES 1
IMPORTER
OF FURNITURE.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established on the basis of a trading division separated from Sogokagu Co Ltd, mfg of furniture at the caption address (See REGISTRATION). Tadahiro Shigemi is concurrently pres at the parent. This is a trading division of Sogokagu Co and imports furniture from Europe centrally, and China. All the goods are supplied to the parent. Imports from Italy, Poland, Czechoslovakia, China, other.
Financials are only partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 320 million, a 7% up from Yen 300 million in the previous term. A large lot orders were received from furniture chain stores. The net profit was posted at Yen 16 million, compared with Yen 4 million a year ago. .
For the current term ending Mar 2013 the net profit is projected at Yen 17 million, on a 3% rise in turnover, to Yen 330 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Sept 1978
Regd No.: 1200-01-020659 (Osaka-Hiranoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen 10 million
Major shareholders (%):
Sogokagu Co Ltd* (90%), Tadahiro Shigemi (10%)
No. of shareholders: 2
*.. Mfr of furniture at the caption address, founded 1966, capital Yen 24 million, sales Yen 2,140 million, employees 56, pres Tadahiro shimeji, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales furniture: tables, chairs, sofa, other (--100%)
Clients: [Mfr] Goods are wholly shipped to the parent, Sogokagu Co Ltd
No. of accounts: 1
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Kindai Co, Yamaoka Wood Industry, Asahi-Sofu Co, other.
Imports from: Poland, Czechoslovakia, Italy, China, other
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are owned by the parent, Sogokagu Co Ltd, and maintained satisfactorily.
Bank References:
SMBC
(Hirano)
Resona
Bank (Tanabe)
Relations:
Satisfactory
(In
Million Yen)
|
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|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
330 |
320 |
300 |
300 |
|
Recur.
Profit |
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Net
Profit |
|
17 |
16 |
4 |
5 |
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Total
Assets |
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|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
132 |
116 |
112 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.13 |
6.67 |
0.00 |
-25.00 |
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|
Current Ratio |
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|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
5.15 |
5.00 |
1.33 |
1.67 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.68 |
|
UK Pound |
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.68 |
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 |
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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 |
|
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.