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Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
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Name : |
MITSUI BUSSAN INTER-FASHION LTD (MIT) |
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Registered Office : |
Hulic Aoyama Bldg 4F, 3-6-12 Kitaaoyama Minatoku Tokyo 107-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
July, 1992 |
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Com. Reg. No.: |
0104-01-056967 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of apparel, textile materials, fashion
accessories |
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No. of Employees : |
40 |
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 |
COMPANY NAME
MITSUI BUSSAN
INTER-FASHION LTD (MIT)
REGD NAME:
Mitsui Bussan Inter Fashion KK
MAIN OFFICE:
Hulic Aoyama Bldg 4F, 3-6-12 Kitaaoyama Minatoku Tokyo 107-0061 JAPAN
Tel: 03-5467-5471 Fax:
03-5467-7315
URL: Error!
Hyperlink reference not valid.
E-Mail address: (thru the URL)
ACTIVITIES:
Import, export, wholesale of apparel, textile materials, fashion
accessories
BRANCHES:
Nagoya, Osaka
OVERSEAS:
Hong Kong, China (3) (--subsidiaries)
OFFICERS:
SHIN’ICHI KIHARA, PRES Daisuke
Yajima, dir
Tadatoshi Arisawa, dir Shin’ichiro
Hirano, dir
Koji Nagae, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 93,442 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
853 M
TREND UP WORTH Yen 3,975 M
STARTED 1992 EMPLOYES 40
COMMENT
TRADING FIRM SPECIALIZING IN APPAREL, WHOLLY OWNED BY MITSUI & CO
LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 637.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a textile division
separated from Mitsui & Co Ltd (See REGISTRATION). This is a trading firm specializing in
apparel, textile materials, other. Also
engaged in material development, product planning, production management,
obtaining licensees, other. 60% of the
products are imported from China and other.
The firm operates 3 mfg factories in China. Domestic clients include major apparel
makers, wholesalers, other, nationwide.
FINANCIAL
INFORMATION
The sales volume for Mar/2012 fiscal term amounted to Yen 93,442 million,
a 3% up from Yen 90,822 million in the previous term. Production in China became in full
swing. The recurring profit was posted
at Yen 1,033 million and the net profit at Yen 822 million, respectively,
compared with Yen 506 million recurring profit and Yen 284 million net profit,
respectively, a year ago.
For the term that ended Mar 2013 the recurring profit was projected at
Yen 1,100 million and the net profit at Yen 870 million, respectively, on a 3%
rise in turnover, to Yen 96,500 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 637.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul
1992
Regd No.: 0104-01-056967
(Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 68,240 shares
Issued:
17,060 shares
Sum: Yen
853 million
Major shareholders
(%): Mitsui & Co Ltd*
(100)
*.. General trading company vying with Mitsubishi Corp for top position,
founded 1947,
Listed Tokyo S/E, capital Yen 341,482 million, Sales Yen 10,049,637
million, operating profit Yen 254,603 million, recurring profit Yen 314,098
million, net profit Yen 307,926 million, total assets Yen 10,324,581 million,
net worth Yen 3,440,104 million, employees 44,805, pres Masami Iijima
OPERATION
Activities: Trading firm for
import, export and wholesale of apparel, apparel materials, fashion
accessories, offering material development, product planning, production
management, licensing agreement, other (--100%)
Clients: [Mfrs,
wholesalers] Mitsui & Co, Sanyo Shokai, Five Foxes Co, Sanyei
International, Onward Kashiyama, Issei Miyake, King Co, other
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from China, Hong Kong, Vietnam, Myanmar, Bangladesh,
Cambodia, other (60%).
40% supplied from domestic textile makers & processors.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Kojimachi)
Mizuho Bank (Aoyama)
Relations: Satisfactory
FINANCES
(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 |
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96,500 |
93,442 |
90,822 |
95,146 |
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Recur. Profit |
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1,100 |
1,033 |
506 |
785 |
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Net Profit |
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870 |
822 |
284 |
677 |
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Total Assets |
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46,793 |
43,244 |
42,566 |
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Current Assets |
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44,464 |
41,110 |
40,185 |
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Current Liabs |
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42,173 |
39,166 |
38,106 |
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Net Worth |
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3,975 |
3,638 |
4,030 |
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Capital, Paid-Up |
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853 |
853 |
853 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.27 |
2.88 |
-4.54 |
-16.42 |
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Current Ratio |
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105.43 |
104.96 |
105.46 |
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N.Worth Ratio |
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8.49 |
8.41 |
9.47 |
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R.Profit/Sales |
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1.14 |
1.11 |
0.56 |
0.83 |
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N.Profit/Sales |
0.90 |
0.88 |
0.31 |
0.71 |
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Return On Equity |
.. |
20.68 |
7.81 |
16.80 |
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Notes: Forecast (or estimated) figures for the 31/03/2013 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.54.77 |
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1 |
Rs.83.31 |
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Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
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Report Prepared
by : |
SDA |
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.