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Report Date : |
22.03.2013 |
IDENTIFICATION DETAILS
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Name : |
SPRING COSMO INTERNATIONAL CORPORATION |
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Registered Office : |
Koshin Bldg 7F, 2-2-22 Kanda-Nishikicho Chiyodaku Tokyo 101-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
June 1993 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 131476 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of
paper, paper products |
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No. of Employees : |
12 employees |
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 : |
No Complaints |
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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
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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 |
SPRING COSMO INTERNATIONAL CORPORATION
KK Spring Cosmo
International
Koshin Bldg 7F, 2-2-22
Kanda-Nishikicho Chiyodaku Tokyo 101-0054 JAPAN
Tel:
03-5577-6602 Fax: 03-5577-6613
URL: http://www.springcosmo.com/
E-Mail address: info@springcosmo.com
Import,
export, wholesale of paper, paper products
Nil
NAK
Cosmo Pty Ltd (Australia) (subsidiary)
FUMITAKA
TAKAHASHI, PRES Yuzuru
Isshiki, dir
Eiji
Takeshita, dir Masanao
Osada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 4,200 M
PAYMENTSNo Complaints CAPITAL Yen 20 M
TREND SLOW WORTH Yen 266 M
STARTED 1993 EMPLOYES 12
TRADING
FIRM SPECIALIZING IN PAPER & PAPER PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESSS ENGAEMENTS, BUT DOUBTFUL FOR CREDIT ENGAGEMENTS: US$2,000,000 / O/A TERMS
The subject company was established by Fumitaka Takahashi in order to
make most of his experience in the subject line of business. This is a trading firm for import, export and
wholesale of paper & paper products: paper, coated paper, quality paper,
board paper, used/recycled paper, pulp, other.
Goods are imported from Korea, Europe, Asia, other, and exported to USA,
Taiwan, Oceania, Asia, etc (80%).
Domestic sales account for 20% of total sales. Domestic clients include printing firms.
Financials are only partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 4,200 million,
a 24% down from Yen 5,500 million in the previous term. Sales declined due to supply shortage from
major paper mfrs as their factories damaged by the Great East Japan Earthquake
that occurred in Mar 2011. Exports
decreased. The net profit was posted at
Yen 30 million, compared with Yen 25 million a year ago.
For the current term ending Mar 2013 the net profit is projected at Yen
30 million, on a 4% rise in turnover, to Yen 5,700 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. The proposed
amount, however, is considered TOO HIGH from the recent financial status.
Date Registered: Jun 1993
Regd No.: (Tokyo-Chiyodaku) 131476
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,600 shares
Issued:
400 shares
Sum: Yen 20
million
Major shareholders (%): Fumitaka Takahashi (50),
Nakagawa Mfg Co (25), Company’s Treasury Stock (25)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports (80%) and wholesales (20%) paper & paper products: coated paper, bond paper, machine glazed paper, printing paper, fiberboard, quality paper, used/recycled paper, pulp, other (--100%).
Clients: [Printers, wholesalers] Nakagawa Mfg Co, Toyo Printing, Toppan Printing, Shiroki KK, Kokusai Pulp & Paper, Seikosha Printing Ltd, other.
Exports to Oceania (50%), other to Taiwan, Vietnam, other Asia, USA, other
No. of accounts: 500
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Shiroki Co, Japan Paper & Pulp, Oji Trading, Kokusai Pulp & Paper, Gojo Paper Mfg, Marubeni Corp, other.
Imports from Hansul Paper (Korea), other from Europe, Asia, other.
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Omotesando)
SMBC
(Aoyama)
Relations:
Satisfactory
(In Million Yen)
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31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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4,450 |
4,200 |
5,500 |
7,700 |
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Recur.
Profit |
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Net
Profit |
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35 |
30 |
25 |
50 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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266 |
236 |
211 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.95 |
-23.64 |
-28.57 |
18.46 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.79 |
0.71 |
0.45 |
0.65 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.28 |
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UK Pound |
1 |
Rs.82.65 |
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Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.