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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
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Name : |
GOOD SKY CO LTD |
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Registered Office : |
Makler Kobe 5F, 4-2-2 Kumoidori Chuoku Kobe 651-0096 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April 2008 |
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Com. Reg. No.: |
1400-01-029117 (Kobe-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of non-woven fabrics, textiles |
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No. of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow but 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) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
GOOD SKY CO LTD
Good Sky KK
Makler Kobe 5F, 4-2-2
Kumoidori Chuoku Kobe 651-0096 JAPAN
Tel: 078-252-5858 Fax: 078-252-5339
URL: http://www.good-sky.co.jp
E-Mail address: (thru the URL)
Import,
export, wholesale of non-woven fabrics, textiles
Nil
NAOHITO
II, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 825 M
PAYMENTSSlow but Correct CAPITAL Yen
10 M
TREND UP WORTH Yen 12 M
STARTED 2008 EMPLOYES 3
TRADING FIRM SPECIALIZING IN NON-WOVEN FABRICS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$500,000 / O/A 45 DAYS.
The subject company was established originally in 2006 by Naohito Ii in order
to make most of his experience in the subject line of business, and was
incorporated in 2008. This is a trading
firm specializing in import, export and wholesale of non-woven fabrics,
textiles, others. Clients include paper
mfrs, wholesalers, other.
Financials are only partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 825 million, a
50% up from Yen 550 million in the previous term. Exports increased. The operations came back to profitability to
post Yen 10 million net profit, compared with Yen 32 million net losses a year
ago.
For the current term ending May 2013 the net profit is projected at Yen
12 million, on a 3% rise in turnover, to Yen 850 million.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements. The
proposed amount, however, is considered TOO HIGH from the recent financial
status.
Date Registered: Apr
2008
Regd No.: 1400-01-029117 (Kobe-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Naohito Ii (100)
Nothing
detrimental is known as to his commercial morality of executives.
Activities: Imports, exports
and wholesales non-woven fabrics, textiles, others (--100%)
Clients: [Mfrs,
wholesalers] Daiichi Shiko Co, Showa Shiko Co, Koyo Kasei Co, Paper Tec Co,
Teramoto Co, other
No. of accounts: 100
Domestic areas of
activities: Centered in the greater-Osaka
Suppliers: [Mfrs,
wholesalers] WebPro Co, East Tecs, other
Imports from China, other
Payment record: Slow but
Correct
Location: Business area in
Kobe. Office premises at the caption address
are leased and maintained satisfactorily.
Bank
References:
SMBC (Sannomiya)
Nisshin Shinkin Bank (Shinei)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
|
850 |
825 |
550 |
448 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
12 |
10 |
-32 |
1 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
12 |
2 |
34 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.03 |
50.00 |
22.77 |
135.79 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.41 |
1.21 |
-5.82 |
0.22 |
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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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
---- |
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.