|
Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
COSMO INCORPORATED |
|
|
|
|
Registered Office : |
3-14-6 Kasugacho Toyonaka City Osaka-Pref 560-0052 |
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|
|
|
Country : |
Japan |
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|
|
|
Financials (as on) : |
31.08.2012 |
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|
|
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Date of Incorporation : |
September 1968 |
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|
|
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Com. Reg. No.: |
1209-01-030890 (Osaka-Toyonaka) |
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|
|
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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|
|
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Line of Business : |
Export of printing paper, paper products |
|
|
|
|
No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Small Company |
|
Payment Behaviour : |
Regular |
|
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
COSMO INCORPORATED
REGD NAME: Cosmo
Bussan KK
MAIN OFFICE: 3-14-6
Kasugacho Toyonaka City Osaka-Pref 560-0052 JAPAN
Tel: 06-6152-8501
URL: N/A
Export of printing
paper, paper products
Nil
NOBORU
SHIBABAYASHI, PRES
Emiko
Shibabayashi, dir
Vivian Shibabayashi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 205 M
PAYMENTSREGULAR CAPITAL Yen
10 M
TREND SLOW WORTH Yen 70 M
STARTED 1968 EMPLOYES 3
EXPORTER OF PRINTING PAPER.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was
established by Shunjiro Shibabayashi in order to make most of his experience in
the subject line of business. Noboru is
his son, who took the pres office in Dec 2007.
This is a trading firm, wholly owned by the Shibabayashi family, for
export of printing paper, paper products, other. Goods are exported to Mid/Near East, Hong
Kong, Pakistan, other
Financials are only
partially disclosed.
The sales volume for Aug/2012 fiscal term
amounted to Yen 205 million, a 3% up from Yen 200 million in the previous
term. The operations continued in the
red for three consecutive terms and posted Yen 5 million net losses for the
term, compared with Yen 7 million net losses a year ago.
For the current term
ending Aug 2013 the operations are expected to come back to profitability but still
limited to a minimum amount post-taxes, on a 5% rise in turnover, to Yen 215
million.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered: Sept 1968
Regd No.: 1209-01-030890 (Osaka-Toyonaka)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major
shareholders (%): Shunjiro Shibabayashi & families (--100)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports printing
paper, paper products, others (--100%)
Clients: [Mfrs, wholesalers]
Exports to Mid/Near East countries, Pakistan, Hong Kong, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in Osaka-Pref
Suppliers: [Mfrs,
wholesalers] Japan Pulp & Paper Co, Kokusai Pulp & Paper Co, NP Trading
Co, Fukayama Co, other
Payment record: Regular
Location: Business area in
Toyonaka City, Osaka-Pref. Office
premises at the caption address are owned by the Shibabayashi family as its
private residence and maintained satisfactorily.
Bank References:
SMBC (Osaka)
Relations: Money
transfer & deposits only
(In Million Yen)
|
Terms Ending: |
|
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
Annual
Sales |
|
215 |
205 |
200 |
315 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
0 |
-5 |
-7 |
-1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
70 |
65 |
58 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.88 |
2.50 |
-36.51 |
-1.25 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.00 |
-2.44 |
-3.50 |
-0.32 |
|
Notes: Financials
are only partially disclosed.
Forecast (or estimated)
figures for the 31/08/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.57 |
|
|
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.73.64 |
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.