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Report Date : |
15.11.2013 |
IDENTIFICATION DETAILS
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Name : |
ELIZE INCORPORATED |
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Registered Office : |
Dai-San Ashike Bldg 201, 1-14-29 Shimanouchi Chuoku Osaka 542-0082 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
September 1962 |
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Com. Reg. No.: |
075959 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of industrial sewing machines,
their parts & components |
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No. of Employees : |
17 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
|
Very High |
C1 |
|
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
ELIZE INCORPORATED
REGD NAME: Elize
KK
MAIN OFFICE: Dai-San
Ashike Bldg 201, 1-14-29 Shimanouchi Chuoku Osaka 542-0082 JAPAN
Tel:
06-6252-7400
Fax: 06-6251-6365
E-Mail address: mail@elize.co.jp
Export of
industrial sewing machines, their parts & components
(Overseas)
Shanghai (2), Bangalore, Singapore, Los Angeles
FUJIO MINAMINO,
PRES Takanobu Iyasono, dir
Takayuki Minamino,
dir Jun Kawashima, dir
Ryoko Kawashima dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,347 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 25 M
TREND SLOW WORTH Yen 15 M
STARTED 1962 EMPLOYES 17
EXPORTER SPECIALIZING IN INDUSTRIAL SEWING MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENS.
The subject company was established by Masaru Kawashima for exporting
industrial & home-use sewing machines and parts, as Elize Mercantile
KK. Renamed as captioned in Apr
1964. In Oct 1964, granted agency
agreement from Mitsubishi Electric Corp for exporting its products of
industrial sewing machines & clutch motors, followed by exclusive agreement
for exporting industrial sewing machines spare parts & components. In Oct 2003, obtained ISO 9001/2000
certification. This is a trading firm
for exporting as a mainline industrial sewing machines, their parts &
components. Exports to Asia, USA,
Europe, Africa, Mid East, Oceania, other.
Goods are partially imported.
The sales volume for Jul/2012 fiscal term amounted to Yen 1,347 million,
a 19% down from Yen 1,652 million in the previous term. Contracts with one large account terminated
and sales declined. The recurring profit
was posted at Yen 39 million and the net profit at Yen 37 million,
respectively, compared with Yen 19 million and the net profit at Yen 23
million, respectively, a year ago.
For the term that ended Jul 2013 the recurring profit was projected at
Yen 40 million and the net profit at Yen 40 million, respectively, on a 2% rise
in turnover, to Yen 1,380 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Sept
1962
Regd No.:
(Osaka-Chuoku)
075959
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 200,000
shares
Issued:
50,000 shares
Sum: Yen
25 million
Major
shareholders (%): Fujio Minamino (40), Jun Kawashima (30), Mitsubishi Electric Corp (10)
No. of
shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports industrial sewing machines, their
parts & components (--100%):
Handling
items: Industrial sewing machines, embroidery machines, equipment for
embroidery (embroidery thread, ultrasonic cutting machines, water soluble
films, cutting machines, fusing press machines, needle detectors, strip-cutting
machines, tape cutting machines, ultra-sonic spot removing guns, leather
production equipment, various genuine spare parts, attachments, erasable pens,
others.
Clients: [Mfrs, wholesalers] Exports to China,
India, other Asia, USA, Europe, Mid East, Africa, Oceania, Latin America,
other.
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] For exports supplied
from Mitsubishi Electric Corp (30%), Hashima
Co, Meiryo Technica Corp, Yamato
Sewing Machine Mfg, Hirose Mfg Co, Nitto Boseki Co, Okamoto Koki, Sabun
Industrial Co, Suzutami Precision Ind, Suprena Inc, other.
Payment record: No complaints
Location: Business area in
Osaka. Office premises at the caption address
are leased and maintained satisfactorily.
Bank References: Mizuho Bank
(Semba)
MUFG
(Shinsaibashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
|
|
Annual
Sales |
|
1,380 |
1,347 |
1,652 |
1,475 |
|
Recur.
Profit |
|
40 |
39 |
19 |
42 |
|
Net
Profit |
|
40 |
37 |
23 |
37 |
|
Total
Assets |
|
|
769 |
831 |
726 |
|
Current
Assets |
|
|
664 |
710 |
614 |
|
Current
Liabs |
|
|
462 |
529 |
523 |
|
Net
Worth |
|
|
154 |
116 |
93 |
|
Capital,
Paid-Up |
|
|
25 |
25 |
25 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.45 |
-18.46 |
12.00 |
20.02 |
|
|
Current Ratio |
.. |
143.72 |
134.22 |
117.40 |
|
|
N.Worth Ratio |
.. |
20.03 |
13.96 |
12.81 |
|
|
R.Profit/Sales |
2.90 |
2.90 |
1.15 |
2.85 |
|
|
N.Profit/Sales |
2.90 |
2.75 |
1.39 |
2.51 |
|
|
Return On Equity |
.. |
24.03 |
19.83 |
39.78 |
|
Notes: Forecast
(or estimated) figures for the 31/07/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.