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Report Date : |
11.06.2013 |
IDENTIFICATION DETAILS
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Name : |
S E A TRADING CO LTD |
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Registered Office : |
Nihombashi SD Bldg, 1-10-6 Nihombashi-Ningyocho Tokyo 103-0013 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
March 2000 |
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Com. Reg. No.: |
0100-01-079276 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of steel coils |
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No. of Employees : |
3 |
RATING & COMMENTS
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
|
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
S E A TRADING CO LTD
REGD NAME: Sea
Trading KK
MAIN OFFICE: Nihombashi
SD Bldg, 1-10-6 Nihombashi-Ningyocho Tokyo 103-0013 JAPAN
Tel:
03-5623-6988 Fax: 03-5623-6990
URL: http://www.seatrading.webfc.zcom
E-Mail address: seatrade@tke.att.ne.jp
Export of steel
coils
Nil
SHU NAGASHIMA,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 900 M
PAYMENTSUNKNOWN CAPITAL Yen
10 M
TREND SLOW WORTH Yen 20 M
STARTED 2000 EMPLOYES 3
EXPORTER OF STEEL COILS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was
established by Shu Nagashima in order to make most of his experience in the
subject line of business. This is a
trading firm for exporting steel coils and sheets, other steel products. Goods are also imported. These goods include recycled ones.
Financial are only
partially disclosed in rounded-off numbers.
The sales volume for Sept/2012 fiscal term
amounted to Yen 900 million, a 40% drop from Yen 1,500 million in the previous
term. Exports were hurt by the high
Yen. Reportedly the firm lost one large
account, but not confirmed. The net
profit was posted at a minimum amount post-taxes, compared with Yen 1 million a
year ago.
For the current term
ending Sept 2013 the net profit is projected at Yen 1 million, on a 6% rise in
turnover, to Yen 950 million.
The financial situation
is considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered: Mar
2000
Regd No.:
0100-01-079276 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Shu Nagashima (100)
Nothing
detrimental is known as to his commercial morality.
Activities: Trading firm for
import and export of steel coils & products: ETP coils, FTP coils, GA
coils, tin-free steel sheets, tin plate sheet, other (--100%)
Clients: [Mfrs,
wholesalers] Exports to Korea, Taiwan, Thailand, other.
Domestically: Nippon Steel Trading Co,
Recycle Corporation, other
No. of accounts:
100
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Nippon Steel Trading Co, Recycle Corporation, Asahi Trading Corp,
Nakamura Shoji Corp, Nakadaya Corp, other
Payment record: Unknown
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Resona Bank
(Nihombashi)
MUFG (Koiwa)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
Annual
Sales |
|
950 |
900 |
1,500 |
1,500 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
1 |
0 |
1 |
1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
20 |
20 |
19 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.56 |
-40.00 |
0.00 |
0.00 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.11 |
0.00 |
0.07 |
0.07 |
|
Notes: Financials
are only partially disclosed.
Estimated figures
for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.78 |
|
|
1 |
Rs.89.71 |
|
Euro |
1 |
Rs.76.23 |
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.