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Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
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Name : |
HARUTA FLOWER CO LTD |
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Registered Office : |
1951 |
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Country : |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
June 2000 |
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Com. Reg. No.: |
2900-01-055901 (Fukuoka-Munakata) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of cut flowers |
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No. of Employees : |
18 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
HARUTA FLOWER CO LTD
REGD NAME: YK
Haruta Flower
MAIN OFFICE: 1951
Fujiwara Munakata City Fukuoka-Pref 811-4154 JAPAN
Tel:
0940-33-1035
Fax: 0940-33-7449
URL: N/A
Import, wholesale
of cut flowers
Nil
ISAO HARUTA, PRES
Hideo Haruta, ch
Hiroko Haruta, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,537 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 3
M
TREND STEADY WORTH Yen
137 M
STARTED 2000 EMPLOYES 18
IMPORTER OF CUT
FLOWERS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS
ENGAGEMENTS.
The subject company was
established originally in 1991 by Hideo Haruta, on own account, for importing
orchid & chrysanthemums from overseas.
Isao is his son. Incorporated in
2000 the firm expanded its import sources to include Columbia and Ecuador． Imports orchid,
chrysanthemums as main items, plus other cut flowers. Imports as agent for domestic flower markets
and florists. Goods shipped to flower
markets centrally in Fukuoka-Pref.
Financials are only
partially disclosed as is the case with family-based companies.
The sales volume for May/2012
fiscal term amounted to Yen 3,537 million, an 8% up from Yen 3,283 million in
the previous term. The net profit was
posted at Yen 45 million, compared with Yen 30 million a year ago.
For the current
term ending May 2013 the net profit is projected at Yen 50 million, on a 5%
rise in turnover, to Yen 3,700 million
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements.
Date Registered:
Jun 2000
Regd No.:
2900-01-055901 (Fukuoka-Munakata)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
280 shares
Issued:
70 shares
Regd Capital: Yen 13 million
Major
shareholders (%): Hideo Haruta (75), Hiroko Haruta (17), Hitoshi Haruta (8)
No.
of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales cut flowers, orchids, chrysanthemums, others (--100%).
Clients: [Flower markets, florists],
Kitakyushu Flower Ryutsu (Distribution) Center, Fukuoka-Pref Kaki Ryutsu
Center, other
No. of accounts:
100
Domestic areas of
activities: Centered in Fukuoka-Pref & vicinities
Suppliers: [Growers,
wholesalers] Morgan Farm, Excel Orchid, Dream Flower, other. Imports from
Thailand, Malaysia, China, Columbia, Ecuador, Singapore, Indonesia, Taiwan, New
Zealand, other.
Payment record: No Complaints
Location: Business area in
Munakata City, Fukuoka-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Fukuoka)
Fukuoka Bank
(Akama)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
|
Annual
Sales |
|
3,700 |
3,537 |
3,283 |
2,646 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
50 |
45 |
30 |
31 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
137 |
92 |
62 |
|
Capital,
Paid-Up |
|
|
13 |
13 |
13 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
4.61 |
7.74 |
24.07 |
16.36 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.35 |
1.27 |
0.91 |
1.17 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.64 |
|
|
1 |
Rs.86.68 |
|
Euro |
1 |
Rs.73.97 |
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 |
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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 |
|
-- |
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.