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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MAGNET CO LTD |
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Registered Office : |
Osaka Fujin Kodomo Fuku Kaikan 6F, 2-3-15 Kyutaromachi Chuoku Osaka, 541-0056 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2012 |
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Date of Incorporation : |
February 2002 |
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Com. Reg. No.: |
1200-02-050955 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of women’s apparel & accessories |
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No. of Employees : |
21 |
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
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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.
|
Source : CIA |
MAGNET CO LTD
YK Magnet
Osaka Fujin Kodomo
Fuku Kaikan 6F, 2-3-15 Kyutaromachi Chuoku Osaka, 541-0056 JAPAN
Tel:
06-6271-7575 Fax: 06-6271-7576
E-Mail address: info@magnet.2002.jp
Import,
wholesale of women’s apparel & accessories
Tokyo
Korea,
China, Thailand, India, Nepal (--subcontracted factories)
MASAHIKO
NISHIDA, PRES
Kiyoshi
Nishida, ch
Keiko
Nishida, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 630 M
PAYMENTSUnknown
CAPITAL Yen 3 M
TREND SLOW WORTH Yen 58 M
STARTED 2002 EMPLOYES 21
IMPORTER OF APPAREL & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Kiyoshi Nishida in
order to make most of his experience in the subject line of business. Masahiko is his son, who took the pres office
in Jul 2007. This is a trading firm for
import and wholesale of women’s apparel & accessories. Goods are subcontracted to overseas factories
and imported from; China, Korea, Thailand, India, Nepal, other. Domestic clients are ladies’ apparel shops,
other
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Apr/2012 fiscal term amounted to Yen 630 million, a
4% down from Yen 653 million in the previous term. Sales were hurt by the high Yen, reducing
earnings and profit in Yen terms. The
net profit was posted at Yen 4 million, compared with Yen 20 million a year
ago.
For the current term ending Apr 2013 the net profit is projected at Yen
5 million, on a 3% rise in turnover, to Yen 650 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Feb
2002
Regd No.: 1200-02-050955 (Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240 shares
Issued:
60 shares
Sum: Yen 3 million
Major shareholders (%):
Kiyoshi Nishida (67), Masahiko Nishida (33)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales women’s apparel & accessories: stools, hats, belts, bags, shoes,
other (--100%)
Clients: Apparel shops for
ladies
No. of accounts: 100
Domestic areas of
activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Imports from subcontracted mfrs in Korea, China, India, Nepal,
Thailand, other
Payment record: Unknown
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Resona
Bank (Mikuni)
SMBC
(Midosuji)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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30/04/2013 |
30/04/2012 |
30/04/2011 |
30/04/2010 |
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Annual
Sales |
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650 |
630 |
653 |
419 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
5 |
3 |
20 |
10 |
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Total
Assets |
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|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
58 |
55 |
35 |
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Capital,
Paid-Up |
|
|
3 |
3 |
3 |
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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 |
3.17 |
-3.52 |
55.85 |
-17.52 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.77 |
0.48 |
3.06 |
2.39 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/04/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
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UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
---- |
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.