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Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
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Name : |
TOKYO EUROPE TRADING LTD |
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Registered Office : |
Yokohama Nishiguchi Katoh Bldg 5F, 2-9-30 Kitasaiwai Nishiku Yokohama 220-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
May 1995 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of wines, cheese, other
foodstuffs |
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No. of Employees : |
7 |
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 : |
Usually correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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.
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Source : CIA |
TOKYO EUROPE
TRADING LTD
REGD NAME: Tokyo Europe Boeki YK
MAIN
OFFICE: Yokohama Nishiguchi Katoh Bldg
5F, 2-9-30 Kitasaiwai Nishiku Yokohama
220-0004 JAPAN
Phone: 045-329-2390 Fax:
045-329-2391
URL: http://www.tokyoseijo.co.jp (of the
parent, Seijo Ishii Co Ltd)
E-mail: seijo-sec@seijoishii.co.jp
(Parent company)
Import, wholesale of wines, cheese, other
foodstuffs
Nil
SHINOBU TERAGUCHI, PRES & CEO
FINANCES FAIR A/SALES Yen 2,100 M
PAYAMENTS REGULAR CAPITAL Yen 5 M
TREND UP WORTH Yen 260 M
STARTED 1995 EMPLOYS 7
TRADING FIRM SPECIALIZING IN WINES, WHOLLY OWNED BY SEIJO
ISHII CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS
The
subject firm was established as a trading division by Seijo Ishii Co Ltd, a
supermarket chain operator, at the caption address (See REGISTRATION). This is a
trading firm for import and wholesale of wines from Italy, France, and other
Europe centrally, and cheese, olive oils, other dairy foods (See OPERATION). Goods are wholly shipped to the parent. The operation is fully integrated with the
parent including the staff members.
Financials are
only partially disclosed.
The sales volume
for Dec/2011 fiscal term amounted to Yen 2,100 million, a 9% up from Yen 1,930
million. The number of parent’s stores
and franchisees increased. The net
profit was posted at Yen 136 million, compared with Yen 55 million a year
ago.
For
the term that ended Dec 2012 the net profit was projected at Yen 140 million,
on a 5% rise in turnover, to Yen 2,200 million.
Final results are yet to e released.
The financial situation is considered
FAIR and good for ORDINARY business engagements.
Date
Registered: May 1995
Legal Status: Limited Company (Kabushiki Gaisha)
Authorized: 400 shares
Issued: 100 shares
Sum: Yen 5 million
Major
shareholder(s) (%): Seijo Ishii Co Ltd*(100)
*.. A supermarket operator of 84 stores
& 14 franchisees centrally in greater-Tokyo region, at the caption address,
founded 1927, capital Yen 5,250 million, turnover Yen 48,702 million, operating
profit Yen 2,905 million, recurring profit Yen 2,290 million, total assets Yen 53,778 million, employees
1,970, pres Akihiko Hara
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports and
wholesales wines, cheese, olive oils, other foodstuffs (--100%).
Wines are imported from Europe and supplied
to the parent, Seijo Ishii Co Ltd, a
supermarket chain operator, at the caption
address.
(Products
imported): Spanish chalcuterie, Spanish cheese, Spanish preserved fish, Spanish
iberico pig products, Spanish jams & fruit pastes, Spanish preserved meat,
Spanish olive oil, Spanish olives & pickles, Spanish Serrano ham, Spanish
spices & salt, Spanish nougat, Spanish bakery & confectionery, others
Clients: [Chain store
operator] Shipped wholly to the parent, Seijo Ishii Co Ltd.
No. of clients: 1
Area of activities: Centered in greater-Tokyo
Suppliers: [Wineries,
negociants] MT Barn, KY Barn, Ferrarini, Madama Oliva, Pereolive, other.
Imports from Italy, France, other Europe
Payment record:
Regular
Location:
Business area in Yokohama.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank
References: MUFG (H/O)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual
Sales |
|
2,200 |
2,100 |
1,930 |
1,826 |
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Recur.
Profit |
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|
|
.. |
55 |
|
Net
Profit |
|
140 |
136 |
55 |
21 |
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Total
Assets |
|
|
235 |
N/A |
301 |
|
Net
Worth |
|
|
260 |
124 |
99 |
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Capital,
Paid-Up |
|
|
5 |
5 |
5 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.76 |
8.81 |
5.70 |
-1.19 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
110.64 |
.. |
32.89 |
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N.Profit/Sales |
6.36 |
6.48 |
2.85 |
1.15 |
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Note: Financials are only partially disclosed.
Forecast
(or estimated) for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.37 |
|
|
1 |
Rs.82.07 |
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Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
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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 |
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-- |
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.