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Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
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Name : |
MIND WIND INC |
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Registered Office : |
3-11-25 Iidabashi Chiyodaku Tokyo 102-0072 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2012 |
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Date of Incorporation : |
May 1976 |
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Com. Reg. No.: |
0100-01-124362 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer, retail of apparel, clothing accessories |
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No. of Employees : |
215 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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
MIND WIND INC
REGD NAME: KK
Mind Wind
MAIN OFFICE: 3-11-25
Iidabashi Chiyodaku Tokyo 102-0072 JAPAN
Tel:
03-5210-8700
E-Mail address: products@mindwind.jp
Mfg, retail of apparel,
clothing accessories
Osaka
81 in-shop stores at department stores
nationwide
(subcontracted)
OSAMU HIRATA, PRES Kenji Inagawa, s/mgn dir
Akira Matsui, dir Hidetoshi
Kajiwara, dir
Tohru Mishiro, dir Mitsuru Ishimura, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,100 M
PAYMENTS REGULAR CAPITAL Yen
90 M
TREND SLOW WORTH Yen
1,104 M
STARTED 1976 EMPLOYES 215
MFR OF APPAREL.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established originally in 1960 by Saburo Tanaka, but in May 1976 went bankrupt,
with liabilities of Yen 11,835 million. The
firm sought for protection under the Corporate Rehabilitation Law and was
closed on 28/08/2006. This is a
specialized mfr of clothing for men & women, and clothing accessories. Mfg is done by subsidiaries. Operates 81 in-shop stores at department stores
nationwide. Goods are also sold online.
The sales volume for
Jan/2012 fiscal term amounted to Yen 6,100 million, a 3% down from Yen 6,288
million in the previous term. Consumer
spending was sluggish. The operations plunged
into the red to post Yen 150 million net loss, compared with Yen 6 million net
profit a year ago.
For the term that ended
Jan 2013 the net profit was projected at Yen 10 million, on a 5% rise in
turnover, to Yen 6,400 million. Final
results are yet to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May
1976
Regd No.:
0100-01-124362 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 720,000 shares
Issued: 180,000 shares
Sum: Yen 90 million
Major
shareholders (%): Yurie Nitani (82), other
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
apparel for men, women & children, operating 81 in-shops at department
stores nationwide (--100%)
(Brand
names): NORD SUD, SOLO PLUS, A.S.M, Sub Street
Clients: Consumers
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Marubeni Fashion Link, Takisada Nagoya, Takisada Osaka, Toyota
Tsusho Corp, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Iidabashi)
MUFG (Iidabashi)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
|
|
Annual
Sales |
|
6,400 |
6,100 |
6,288 |
6,685 |
|
Recur.
Profit |
|
|
|
104 |
105 |
|
Net
Profit |
|
10 |
-150 |
6 |
9 |
|
Total
Assets |
|
|
2,692 |
3,063 |
3,325 |
|
Current
Assets |
|
|
2,261 |
2,664 |
2,848 |
|
Current
Liabs |
|
|
1,444 |
1,748 |
2,023 |
|
Net
Worth |
|
|
1,104 |
1,255 |
1,248 |
|
Capital,
Paid-Up |
|
|
90 |
90 |
90 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.92 |
-2.99 |
-5.94 |
-91.49 |
|
|
Current Ratio |
|
.. |
156.58 |
152.40 |
140.78 |
|
N.Worth Ratio |
.. |
41.01 |
40.97 |
37.53 |
|
|
R.Profit/Sales |
|
.. |
.. |
1.65 |
1.57 |
|
N.Profit/Sales |
0.16 |
-2.46 |
0.10 |
0.13 |
|
|
Return On Equity |
.. |
-13.59 |
0.48 |
0.72 |
|
Notes: Forecast
(or estimated) figures for the 31/01/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
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.