MIRA INFORM REPORT
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Report Date : |
13.05.2013 |
IDENTIFICATION DETAILS
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Name : |
M & H CORPORATION |
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Registered Office : |
Crescent Bldg 7F, 1-9-4 Misuji Taitoku Tokyo 111-0055 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
December 1989 |
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Com. Reg. No.: |
(Tokyo-Taitoku) 030334 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of spices |
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No. of Employees : |
04 |
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 : |
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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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.
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Source
: CIA |
M & H CORPORATION
KK M & H Corporation
Crescent Bldg 7F, 1-9-4 Misuji Taitoku Tokyo 111-0055 JAPAN
Tel: 03-5835-3345 Fax: 03-5835-3346
URL: N/A
Import, wholesale of spices
Nil
JOH
KONNO, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,000 M
PAYMENTS Slow
but Correct CAPITAL Yen 20 M
TREND SLOW WORTH Yen
67 M
STARTED 1989 EMPLOYES 4
IMPORTER
AND WHOLESALER OF SPICES.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Kazuo Tsugawa in order to make most of his experience in the subject line of business. In Nov 2009, K Tsugawa stepped down and Joh Konno took the pres office. This is a trading firm for import and wholesale of spices. Goods are imported from India, Malaysia, USA, Spain, France, other. Clients are local food processors, food industry, other.
Financials are only partially disclosed and in rounded-off numbers.
The sales volume for Jul/2012 fiscal term amounted to Yen 1,000 million, a similar amount in the previous term. The net price was posted at Yen 5 million, similarly in the previous term
For the current term ending Jul 2013 the net profit is projected at Yen 6 million, on a 10% rise in turnover, to Yen 1,100 million. Weaker Yen will contribute to increase sales in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1989
Regd No.: (Tokyo-Taitoku) 030334
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
1,600 shares
Issued:
400 shares
Sum: Yen 20 million
Major shareholders (%): Kazuo
Tsugawa, Joh Konno, other (Details unavailable)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales spices (100%).
Clients: [Food processors, wholesalers, restaurants] Ikeda Tohka Ind, other.
No. of accounts: 200
Domestic areas of activities:
Centered in greater-Tokyo
Suppliers:
[Mfrs] Imports from India, USA, Malaysia, Spain, France, other.
Payment record: Slow
but Correct
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Nihombashi-Higashi)
MUFG
(Yaesudori)
Relations:
Satisfactory
(in Million Yen)
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Terms Ending: |
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31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
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Annual
Sales |
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1,100 |
1,000 |
1,000 |
1,000 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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6 |
5 |
5 |
5 |
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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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67 |
62 |
57 |
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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 |
10.00 |
0.00 |
0.00 |
0.00 |
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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 |
0.55 |
0.50 |
0.50 |
0.50 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/07/2013 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.54 |
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UK Pound |
1 |
Rs.84.19 |
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Euro |
1 |
Rs.71.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.