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Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SUN EAST OVERSEAS LTD |
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Registered Office : |
Toka Bldg 405, 3-8-9 Iwamotocho Chiyodaku Tokyo 101-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
September 1988 |
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Com. Reg. No.: |
0100-01-017538 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of audio equipment, electronic/electric parts |
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No. of Employees : |
1 |
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 1.8 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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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
SUN EAST OVERSEAS LTD
REGD NAME: Sun
East Overseas KK
MAIN OFFICE: Toka
Bldg 405, 3-8-9 Iwamotocho Chiyodaku Tokyo 101-0032 JAPAN
Tel:
03-3683-8721 Fax: 03-3683-8722
E-Mail address: suneast@d2.dion.ne.jp
Export of audio
equipment, electronic/electric parts
Nil
AKIYOSHI NAGAYAMA,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 95 M
PAYMENTSREGULAR CAPITAL Yen
10 M
TREND SLOW WORTH Yen 84 M
STARTED 1988 EMPLOYES 1
TRDING FIRM SPECIALIZING IN AUDIO EQUIPMENT.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 1.8 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established by Akiyoshi Nagayama in order to make most of his experience in the
subject line of business. This is a one-man
trading firm specializing in export of acoustic instruments,
electronic/electric parts, others. Goods
are exported to Taiwan, India, China, UAE, Hong Kong, Vietnam, other.
Financials are only
partially disclosed.
The sales volume for Jul/2012 fiscal term
amounted to Yen 95 million, a similar amount in the previous term. The net profit remained similar at Yen 1
million.
For the current term
ending Jul 2013 the net profit is projected at Yen 2 million, on a 5% rise in
turnover, to Yen 100 million. Weaker Yen
may contribute to raise revenues & profits in Yen terms.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 1.8 million, on 30 days normal terms.
Date Registered: Sept
1988
Regd No.:
0100-01-017538 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Akiyoshi Nagayama
(100)
Nothing
detrimental is known as to his commercial morality.
Activities: Exports audio
equipment, electronic/electric apparatus/parts, others (--100%)
Clients: [Mfrs,
wholesalers] Exports to Taiwan, India, China, UAE, Hong Kong, Vietnam,
other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers:
Electronic/electric mfrs, wholesalers, others
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Michinoku Bank
(Tokyo)
Relations: Money
deposits & transfers only
(In Million
Yen)
|
Terms Ending: |
|
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
|
Annual
Sales |
|
100 |
95 |
95 |
80 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
2 |
1 |
1 |
1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
84 |
83 |
82 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.26 |
0.00 |
18.75 |
0.00 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
2.00 |
1.05 |
1.05 |
1.25 |
|
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/07/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.41 |
|
|
1 |
Rs.91.62 |
|
Euro |
1 |
Rs.78.12 |
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.