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Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
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Name : |
TRADE WORKS CO LTD |
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Registered Office : |
Shibuya Shin-Minamiguchi Bldg 7F, 3-28-13 Shibuya
Shibuyaku Tokyo 150-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2013 |
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Date of Incorporation : |
Jun 2002 |
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Com. Reg. No.: |
0110-01-038630 (Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of promotional items, novelty goods, gift goods,
T-shirt |
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No. of Employees : |
140 |
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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Status : |
Moderate |
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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 |
|
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 |
TRADE WORKS CO LTD
REGD NAME: KK Trade Works
MAIN OFFICE: Shibuya Shin-Minamiguchi Bldg 7F, 3-28-13
Shibuya Shibuyaku Tokyo 150-0002
JAPAN
Tel:
03-5468-7271
Fax: 03-5468-1054
URL: http://www.tradeworks.co.jp
E-Mail address: (thru the URL)
Import, wholesale of promotional items, novelty goods, gift goods,
T-shirt
Osaka, Nagoya
Hong Kong, China (--subsidiaries)
Parent’s factories, subsidiaries
KEIICHI CHIBA, PRES
Satoshi Ishikawa, ch (pres of the parent)
Kazuaki Hosoda, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 4,959 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 90 M
TREND UP WORTH Yen 535 M
STARTED 2002 EMPLOYES 140
TRADING FIRM, OWNED BY TRANSACTION CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the basis of a trading division
separated from Transaction Co Ltd (See REGISTRATION). This is a trading firm for import, export and
wholesale of sales/office promotional goods, novelty goods, gift items,
T-shirts, other. Goods are imported from
China, Taiwan, Vietnam, Bangladesh, India, other S/E Asian countries. Clients include supermarkets, convenience
stores, other.
The sales volume for Aug/2012 fiscal term amounted to Yen 4,959 million,
an 8% up from Yen 4,599 million in the previous term. The recurring profit was posted at Yen 87
million and the net profit at Yen 47 million, respectively, compared with Yen
236 million recurring profit and yen 128 million net profit, respectively, a
year ago.
For the term that ended Aug 2013 the recurring profit was projected at
Yen 90 million and the net profit at Yen 50 million, respectively, on a 5% rise
in turnover, to Yen 5,200 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun
2002
Regd No.: 0110-01-038630
(Tokyo-Shibuyaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7,200 shares
Issued:
1,800 shares
Sum: Yen
90 million
Major shareholders
(%): Transaction Co Ltd* (100)
*.. Fables mfr to plan and sell office/promotional items &
eco-friendly/healthcare sundries, at the caption address, founded 1989, listed
JASDAQ, capital Yen 301 million, sales Yen 9,183 million, operating profit Yen
573 million, recurring profit Yen 605 million, net profit Yen 321 million,
total assets Yen 4,696 million, net worth Yen 2,565 million, employees 358,
pres Satoshi Ishikawa
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales sales promotional
items, healthcare goods, sundries, other (--100%)
Clients: [Mfrs,
wholesalers] DNP Trading, PIP Co, Gifco Inc, Enicil Co, Etoile-Kaito Co,
Lawson, Paltac, Toms Co, other
No. of accounts:
300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from China,
Hong Kong, Taiwan, Vietnam, Bangladesh, India, other.
Payment record: No complaints
Location: Business
area in Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Meguro)
Mizuho Bank
(Shibuya-Chuo)
Relations:
^Satisfactory
|
Terms
Ending: |
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
|
Annual Sales |
|
5,200 |
4,959 |
4,599 |
4,275 |
|
Recur. Profit |
|
90 |
87 |
236 |
|
|
Net Profit |
|
50 |
47 |
128 |
59 |
|
Total Assets |
|
|
2,403 |
2,316 |
1,621 |
|
Current Assets |
|
|
2,330 |
2,251 |
|
|
Current Liabs |
|
|
1,793 |
1,760 |
|
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Net Worth |
|
|
535 |
491 |
372 |
|
Capital, Paid-Up |
|
|
90 |
90 |
90 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.86 |
7.83 |
7.58 |
20.42 |
|
|
Current Ratio |
|
.. |
129.95 |
127.90 |
.. |
|
N.Worth Ratio |
.. |
22.26 |
21.20 |
22.95 |
|
|
R.Profit/Sales |
|
1.73 |
1.75 |
5.13 |
.. |
|
N.Profit/Sales |
0.96 |
0.95 |
2.78 |
1.38 |
|
|
Return On Equity |
.. |
8.79 |
26.07 |
15.86 |
|
Notes: Forecast (or estimated) figures for the 31/08/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.