MIRA INFORM REPORT
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Report Date : |
24.05.2013 |
IDENTIFICATION DETAILS
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Name : |
BALMORAL INTERNATIONAL CORPORATION |
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Registered Office : |
Inoue Bldg 3F, 2-16-8 Tamazukuri Chuoku Osaka 540-0004 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
Nov 1990 |
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Com. Reg. No.: |
1200-01-098954 (Osaka-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of curtains, upholstery coverings,
emergency cloths |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
YEN 1.0 MILLION |
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Status : |
Small company |
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Payment Behaviour : |
Slow |
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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 |
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Risk Category |
ECGC
Classification |
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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.
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Source : CIA |
Company name & address
BALMORAL INTERNATIONAL CORPORATION
REGD NAME: KK
Balmoral International
MAIN OFFICE: Inoue
Bldg 3F, 2-16-8 Tamazukuri Chuoku Osaka 540-0004 JAPAN
Tel:
06-4304-7200 Fax: 06-6762-9500
URL: http://www.balmoral.co.jp
E-Mail
address: (thru the URL)
ACTIVITIES
Import,
wholesale of curtains, upholstery coverings, emergency cloths, other
BRANCHES
Nil
OFFICERS
MASAAKI
INOUE, PRES
Akiko
Hiue, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 50 M
PAYMENTSSLOW CAPITAL Yen 10 M
TREND UP WORTH Yen 21 M
STARTED 1990 EMPLOYES 2
COMMENT
TRADING FIRM SPECIALIZNG CURTAINS AND UPHOLSTERY CLOTHS.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject
company was established by Balmoral (France) as its marketing office in
Japan. This is a trading firm for import
and wholesale of curtains, upholstery cloths & coverings,
disaster-preventive textiles, other.
Goods are imported from France, Spain, USA, Germany, other. Clients include textile makers, wholesalers,
other
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Sept/2012 fiscal term amounted to Yen
50 million, a 51% up from Yen 33 million in the previous term. Demand for emergency-use textiles &
cloths rose sharply after the Great North Japan Earthquake in Mar 2011. The net profit posted at Yen 1 million,
similarly in the previous term.
For the current term ending Sept 2013 the net profit is
projected to mark time at Yen 1 million, on a 10% rise in turnover, to Yen 55
million. Emergency-use cloths/textiles
continue in increased demand.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Max credit limit is estimated at Yen 1.0 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Nov 1990
Regd No.: 1200-01-098954
(Osaka-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum: Yen
10 million
Major shareholders (%):
Masaaki Inoue (40), Masaaki Hiue (25)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales curtains,
upholstery coverings/cloths, disaster-preventive textiles/cloths, other
(--100%)
Clients: [Mfrs, wholesalers] Etoile-Kaito,
Mitsui & Co, Nishikawa Living Inc, Kirony Co, other.
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Lorenzo Rubelli,
Brochier, Astoranova, other.
Imports from France, Spain,
Germany, USA, other
Payment record: Slow
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Semba)
SMBC
(Imazato)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
|
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
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Annual
Sales |
|
55 |
50 |
33 |
60 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
1 |
1 |
1 |
-4 |
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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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|
21 |
20 |
19 |
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Capital,
Paid-Up |
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|
10 |
10 |
10 |
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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 |
51.52 |
-45.00 |
0.00 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.82 |
2.00 |
3.03 |
-6.67 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/09/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.55.99 |
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UK Pound |
1 |
Rs.84.18 |
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Euro |
1 |
Rs.71.86 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
-- |
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.