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Report Date : |
31.05.2013 |
IDENTIFICATION DETAILS
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Name : |
WATANABE SHOTEN CO LTD |
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Registered Office : |
3-6-12 Aobadai Meguroku Tokyo
153-0042 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2013 |
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Year of Establishment : |
May 1947 |
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Com. Reg. No.: |
0132-01-006311 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of fertilizers, feeds. |
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No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
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 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 |
WATANABE SHOTEN CO LTD
KK Watanabe Shoten
3-6-12 Aobadai
Meguroku Tokyo 153-0042 JAPAN
Tel: 03-3463-7661
N/A
Import, wholesale
of fertilizers, feeds
Nil
YOSHIYUKI
WATANABE, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,160 M
PAYMENTSREGULAR CAPITAL Yen
12 M
TREND SLOW WORTH Yen 400 M
STARTED 1947 EMPLOYES 20
TRADING FIRM SPECIALIZING IN FERTILIZERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1882 by father of
Yoshiyuki Watanabe in order to make most of his experience in the subject line
of business, on his account.
Incorporated in 1947 the firm has been succeeded by his
descendants. This is a trading firm
specializing in import and wholesale of fertilizer, feeds, other. Clients include zoos, other
Financials are only partially disclosed.
The sales volume for Apr/2012 fiscal term amounted to Yen 1,160 million,
a shade down from Yen 1,165 million in the previous term. The net profit marked time at Yen 15 million,
similarly in the previous term
For the term that ended Apr 2013 the net profit was projected at Yen 20
million, on a 3% rise in turnover, to Yen 1,195 million. Final results are yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: May 1947
Regd No.:
0132-01-006311
(Tokyo-Meguroku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 96,000
shares
Issued: 24,000
shares
Sum: Yen
12 million
Major shareholders (%): Yoshiyuki
Watanabe (100)
Nothing
detrimental is known as to his commercial morality.
Activities: Imports and
wholesaler fertilizers, feeds, other (--100%)
Clients: [Mfrs,
wholesalers] Nihon Chuo Keibakai Miura Training Center, Ooi Keiba, Ueno Zoo,
Tama Dobutsuen, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Sumikin Bussan, Sojitz Corp, Arts Trading, Mitsui Bussan Agro
Business, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned by Yoshiyuki Watanabe as his private residence and maintained
satisfactorily.
Bank References:
Mizuho Bank
(Shibuya)
Mug (Shibuya)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/04/2013 |
30/04/2012 |
30/04/2011 |
30/04/2010 |
|
Annual
Sales |
|
1,195 |
1,160 |
1,165 |
1,150 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
20 |
15 |
15 |
15 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
400 |
385 |
370 |
|
Capital,
Paid-Up |
|
|
12 |
12 |
12 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.02 |
-0.43 |
1.30 |
4.55 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.67 |
1.29 |
1.29 |
1.30 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/04/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.10 |
|
|
1 |
Rs.85.13 |
|
Euro |
1 |
Rs.72.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
---- |
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.