|
Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
WRAPS CO LTD |
|
|
|
|
Registered Office : |
6-28 Minami 17-Chome Nangodori Shiroishiku Sapporo 003-0022 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Date of Incorporation : |
April 1989 |
|
|
|
|
Com. Reg. No.: |
4300-01-018332 (Sapporo-Shiroishiku |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale of daily
necessities, convenience goods |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
WRAPS CO LTD
REGD NAME: KK
Wraps
MAIN OFFICE: 6-28
Minami 17-Chome Nangodori Shiroishiku Sapporo 003-0022 JAPAN
Tel:
011-864-4330 Fax: 011-964-4360
E-Mail
address: (thru the URL)
Import,
wholesale of daily necessities, convenience goods
Nil
AKIHIKO
FUKUDA, PRES
Hideharu
Fujita, rep dir
Chikako
Endoh, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 450 M
PAYMENTSREGULAR CAPITAL Yen
10 M
TREND SLOW WORTH Yen 58 M
STARTED 1989 EMPLOYES 10
TRADING FIRM SPECIALIZING IN DAILY NECESSITIES.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUISNESS ENGGEMENTS.
The subject
company was established by Hiedeharu Fujita in order to make most of his
experience in the subject line of business.
Akihiko Fukuda took the pres office in May 2000. This is a trading firm for import and
wholesale of daily necessities: lamp holders, stuffed toys, plastic kitchen
utensils, other. Clients include retail
stores, specialty stores, other
Financials
are only partially disclosed.
The sales volume for Feb/2012
fiscal term amounted to Yen 450 million, a 4% down from Yen 470 million in the
previous term. The net profit was posted
at Yen 5 million, compared with Yen 6 million a year ago.
For the
term that ended Feb 2013 the net profit was projected at Yen 6 million, on a 2%
rise in turnover, to Yen 460 million.
Final results are yet to be released.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements.
Date Registered: Apr 1989
Regd No.: 4300-01-018332 (Sapporo-Shiroishiku
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%):
Akihiko Fukuda (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales daily
necessities: lamps & lamp holders, stuffed toys, plastic kitchen utensils,
other (--100%)
Clients: Specialty stores, wholesalers, retail
stores, other
No. of
accounts: 100
Domestic
areas of activities: Centered in Hokkaido
Suppliers: [Mfrs, wholesalers] Interform Co,
Maruwa Trading Co, Shisei Hambai Co, Mon Suil Co, Sailor Pen Co, other
Payment record: Regular
Location:
Business area in Sapporo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Hokkaido
Bank (Toyohira)
North
Pacific Bank (Shiroishi-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
28/02/2013 |
29/02/2012 |
28/02/2011 |
28/02/2010 |
|
Annual
Sales |
|
460 |
450 |
470 |
370 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
6 |
5 |
6 |
3 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
58 |
53 |
47 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.22 |
-4.26 |
27.03 |
-2.63 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.30 |
1.11 |
1.28 |
0.81 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 28/02/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.21 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.70.97 |
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 |
|
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.