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Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
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Name : |
AVANT CO LTD |
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Registered Office : |
6-3-5 Minatojima Nakamachi Chuoku Kobe 650-0046 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
May, 1979 |
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Com. Reg. No.: |
1400-01-005964 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of women’s dress & accessories |
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No. of Employees : |
110 |
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 |
|
Moderate |
B1 |
|
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 |
AVANT CO LTD
KK Avan
6-3-5 Minatojima Nakamachi Chuoku Kobe 650-0046 JAPAN
Tel: 078-303-3911 Fax:
072-303-2308
URL: http://www.avant-group.co.jp
E-Mail address: (thru the URL)
Import, Export, Wholesale of women’s dress & accessories
Tokyo, Niigata (Labs)
(subcontracted)
SHOICHI YAMAGUCHI, PRES
Kiyohiko Suzuki, dir
Keiichi Mizokawa, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 6,650 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
34 M
TREND UP WORTH Yen 381 M
STARTED 1979 EMPLOYES 110
TRADING FIRM SPECIALIZING IN WOMEN’S CLOTHING & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the basis of a trading division
separated from Leilian Co Ltd (See REGISTRATION). This is a trading firm, with mfg division,
specializing in women’s clothing and accessories (See OPERATION). Goods are
subcontracted mfg to China, other. 85%
of the goods are shipped to the parent, Leilian Co Ltd.
Financials are only partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 6,650 million,
a 3% up, on an adjusted 12-month basis, from Yen 1,611 million for 3 months in
the previous term, due to the change in accounting term to Apr/Mar from Jan/Dec. The net profit was posted at Yen 290 million,
compared with Yen 5 million net losses a year ago.
For the term that ended Mar 2013 the net profit was projected at Yen 300
million, on a 5% rise in turnover, to Yen 7,000 million. Weaker Yen may have contributed to increase
earnings in Yen terms. Final results are
yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May
1979
Regd No.: 1400-01-005964
(Kobe-Chuoku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 272,000 shares
Issued:
68,000 shares
Sum: Yen
34 million
Major shareholders
(%): Leilian Co Ltd* (100)
*.. Mfr of women’s clothing & accessories, Tokyo, founded 1968,
capital Yen 600 million, sales Yen 46,121 million, net profit Yen 83 million,
employees 1,614, pres Taizo Otsuka
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales women’s clothing & accessories: suits, jackets, trousers,
bottoms, blouse, one-piece dress, coat, knitwear, other (--100%)
Clients: [Mfrs,
wholesalers] Leilian Co Ltd (85%), Pola Co, World Co, Senshukai, REDU
Interface, Wacoal Corp, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Marubeni Corp, Itochu Corp, Meiwa Corp, Sanki Shoji Co, Sankei Co,
other
Payment record: No Complaints
Location: Business area in
Kobe. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Sannomiya)
MUFG (Kobe)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/03/2013 |
31/03/2012 |
31/03/2011 |
31/12/2010 |
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Annual
Sales |
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7,000
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6,650
|
1,611
|
6,200
|
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
300 |
290 |
-5 |
100 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
381 |
91 |
96 |
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Capital,
Paid-Up |
|
|
34 |
34 |
34 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
5.26 |
3.04 |
3.93 |
-13.89
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
4.29 |
4.36 |
-0.31
|
1.61 |
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Notes: Financials are only partially disclosed. The 31/03/2011 fiscal term is only for three
months. Growth rates are adjusted on a
12-month basis
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.