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Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
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Name : |
WAKO CO LTD |
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Registered Office : |
Osaka Sakaisuji Bldg 8F, 2-2-13 Bakurocho Chuoku Osaka 541-0059 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2012 |
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Date of Incorporation : |
March, 1971 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of clothing, clothing accessories, other |
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No. of Employees : |
13 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
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 |
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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 |
WAKO CO LTD
KK Wako
Osaka Sakaisuji Bldg 8F, 2-2-13 Bakurocho Chuoku Osaka 541-0059 JAPAN
Tel: 06-6293-8188
URL: N/A
Import, wholesale of clothing, clothing accessories, other
Nil
KOJI KINOSHITA, PRES Motoyoshi
Tokuda, ch
Mitsuhiro Shinomiya, dir Shiro
Abe, ch
Shin’ichi Motomura, rep dir Tomiki
Tanimura, rep dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,016 M
PAYMENTS REGULAR CAPITAL Yen
26 M
TREND UP WORTH Yen 546 M
STARTED 1971 EMPLOYES 13
TRADING FIRM SPECIALIZING IN CLOTHING & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1965 by Motoyoshi
Tokuda in order to make most of his experience in the subject line of
business. This is a trading firm for
import and wholesale of clothing and clothing accessories. Clients include chain stores, supermarkets,
other
Financials are only partially disclosed.
The sales volume for Aug/2012 fiscal term amounted to Yen 1,016 million,
a 19% ^ from Yen ^ million in the previous term. A large-volume discount store was added as a
new client. The net profit was posted at
Yen 56 million, compared with Yen 42 million a year ago.
For the current term ending Aug 2013 the net profit is projected at Yen
60 million, on a 3% rise in turnover, to Yen 1,050 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar
1971
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 208,000 shares
Issued:
52,000 shares
Sum: Yen
28 million
Major shareholders (%): Motoyoshi Tokuda (21), Mitsuhiro
Shinomiya (21), Shiro Abe (21), Koji Kinoshita (11), Shin’ichi Motomura (11)
No. of
shareholders: (
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales clothing, clothing accessories (belts, scarves, handkerchief, other)
bags, other (--100%)
Clients: [Mfrs,
wholesalers] Excel Co, Heiwado, Daiei Inc, Manei Inc, other
No. of accounts: 200
Domestic areas of
activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Inter Agency, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Esaka)
Resona Bank (Semba)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
Annual Sales |
|
1,050 |
1,016 |
853 |
83 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
60 |
56 |
42 |
1 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
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Net Worth |
|
|
546 |
490 |
448 |
|
Capital, Paid-Up |
|
|
26 |
26 |
26 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.35 |
19.11 |
927.71 |
-90.67 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
5.71 |
5.51 |
4.92 |
1.20 |
|
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.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.