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Report Date : |
09.05.2013 |
IDENTIFICATION DETAILS
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Name : |
YAGI TSUSHO LIMITED |
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Registered Office : |
3-1-9 Kitahama Chuoku Osaka 541-0041 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
December 1946 |
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Com. Reg. No.: |
1200-01-077578 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of textiles |
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No. of Employees : |
962 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 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 |
YAGI TSUSHO LIMITED
Yagi Tsusho KK
3-1-9 Kitahama
Chuoku Osaka 541-0041 JAPAN
Tel: 06-6227-6830
E-Mail address: (thru the URL)
Import,
export, wholesale of textiles
Tokyo
China (5),
USA, Paris, Milan, UK
(subsidiaries),
China
YUZO
YAGI, PRES Satoshi
Sumiyoshi, s/mgn dir
Masayuki
Makimura, mgn dir Yoshiro Hamada, dir
Osamu
Nakamoto, dir Katsumi
Taniguchi, dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 21,536 M
PAYMENTSNo
Complaints CAPITAL Yen
300 M
TREND UP WORTH Yen 9,301 M
STARTED 1946 EMPLOYES 962
TRADING FIRM SPECIALIZING IN TEXTILES.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by a certain Yagi as a trading firm,
in Osaka, specializing in textiles. In
1957, opened Tokyo Branch. This is a
trading firm specializing in textiles.
Has offices in USA, China, France, Italy, UK, with factories in
China. Clients include major apparel
makers, apparel chain stores, specialty stores, department stores, other.
The sales volume for Mar/2012 fiscal term amounted to Yen 21,536
million, a 4% up from Yen 20,699 million in the previous term. The recurring profit was posted at Yen 1,323
million and the net profit at Yen 645 million, respectively, compared with Yen
804 million recurring profit and Yen 43 million net profit, respectively, a
year ago.
For the term that ended Mar 2013 the recurring profit was projected at
Yen 1,400 million and the net profit at Yen 670 million, respectively, on a 5%
rise in turnover, to Yen 22,600 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Dec
1946
Regd No.: 1200-01-077578 (Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 10
million shares
Issued:
5,970,000 shares
Sum: Yen 300 million
Major shareholders (%):
Nishinomiya KK* (25.1), Toa Kaihatsu (11.1), Oike KK (8.2), Prudence (7.2),
Kitahama Boeki (7.1)
*.. Holding company owned by the
Yagi family
No. of shareholders: 54
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales: textiles, garments, accessories, other (95%), real estate
management, others (--5%)
(Import 85%,
export 15%)
Clients: [Mfrs,
wholesalers] Tomorrowland Co, Beams, Ships, Bay Cruise, United Arrows, Sanyo
Shokai, other
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kurabo Ind, Toray Ind, Suzuken Keori, other
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Nakanoshima)
Mizuho Bank (Osaka-Chuo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
22,600 |
21,536 |
20,699 |
19,962 |
|
Recur.
Profit |
|
1,400 |
1,323 |
804 |
|
|
Net
Profit |
|
670 |
645 |
43 |
441 |
|
Total
Assets |
|
|
31,767 |
31,995 |
32,062 |
|
Current
Assets |
|
|
9,986 |
10,089 |
|
|
Current
Liabs |
|
|
10,332 |
10,582 |
|
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Net
Worth |
|
|
9,301 |
8,396 |
8,470 |
|
Capital,
Paid-Up |
|
|
300 |
300 |
300 |
|
Div.P.Share(¥) |
|
|
24.00 |
10.00 |
14.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.94 |
4.04 |
3.69 |
-0.02 |
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|
Current Ratio |
|
.. |
96.65 |
95.34 |
.. |
|
N.Worth Ratio |
.. |
29.28 |
26.24 |
26.42 |
|
|
R.Profit/Sales |
|
6.19 |
6.14 |
3.88 |
.. |
|
N.Profit/Sales |
2.96 |
2.99 |
0.21 |
2.21 |
|
|
Return On Equity |
.. |
6.93 |
0.51 |
5.21 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.99 |
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 |
|
<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.