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Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SCYTHE CO LTD |
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Registered Office : |
Toa Butsuryu Funabori Logistics Center 2F,
5-11 Haruecho Edogawaku Tokyo 134-0003
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Country : |
Japan |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
June 2008 |
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Com. Reg. No.: |
0100-01-117910
(Tokyo-Edogawaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter and wholesaler of PC & peripherals |
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No. of Employees : |
30 |
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 : |
Slow but Correct |
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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 |
|
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.
|
Source : CIA |
SCYTHE CO LTD
KK Scythe
Toa Butsuryu Funabori Logistics Center 2F,
5-11 Haruecho Edogawaku Tokyo 134-0003
JAPAN
Tel:
03-5858-3480 Fax: 03-3878-3481
*.. Moved the registered address as captioned in Jul/2013 from Baraki Ichikawa
E-Mail address: support@scythe.co.jp
Import,
wholesale of PC & peripherals
Ichikawa (warehouse)
China,
USA, Taiwan, Europe
(subcontracted)
TAKEHIRO WATANABE, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 1,466 M*
PAYMENTSSlow but Correct CAPITAL Yen
30 M
TREND SLOW WORTH Yen 51 M*
STARTED 2008 EMPLOYES 30
*..
May/2011 fiscal term figures
TRADING FIRM SPECIALIIZNG IN PC & PERIPHERALS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading division separated from Scythe Holdings Co Ltd (See REGISTRATION). This is a trading firm specializing in import, export and wholesale of PC & peripherals. Domestic clients include electronics stores, information system firms, other.
Financial are consolidated by the parent and only partially disclosed. From May/2012 fiscal term the firm stopped disclosing them, and all figures herein are referred to those of May/2011 fiscal term.
The sales volume for May/2011 fiscal term amounted to Yen 1,466 million, a 19% down from Yen 1,804 million in the previous term. The net profit was posted at Yen 8 million, compared with Yen 13 million a year ago.
For the current term ending May 2012 the net profit was
projected at Yen 8 million, on a 2% rise in turnover, to Yen 1,500
million. Final results are not
disclosed.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Date Registered: Jun 2008
Regd No.: 0100-01-117910 (Tokyo-Edogawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,400 shares
Issued:
600 shares
Sum: Yen 30 million
Major shareholders (%): Scythe Holdings Co Ltd* (66),
other
No. of shareholders: 5
*.. Wholesaler of PC, Tokyo, founded 1993, capital Yen 30
million, turnover Yen 2,000 million, net profit Yen 4 million, net worth Yen 62
million, employees 5, pres Takashi Fujimori
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales PC & peripherals (100%)
(Handling items): CPU cooler, disk drive, case fan, PC cases, other
Clients: [Mfrs, wholesalers] PC Depot Corporation, Bic Camera, Yamada Denki, Unit Com, Daiwabo Information System, Yodobashi Camera, other
No. of accounts: 100
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Wholesaler] Scythe Holdings Co Ltd
Payment record: Slow but Correct
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Ueno)
Shoko Chukin Bank (Ueno)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/05/2012 |
31/05/2011 |
31/05/2010 |
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Annual
Sales |
|
1,500 |
1,466 |
1,804 |
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Recur.
Profit |
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Net
Profit |
|
8 |
8 |
13 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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|
51 |
43 |
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Capital,
Paid-Up |
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|
30 |
30 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.32 |
-18.74 |
- - - |
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Current Ratio |
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|
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
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N.Profit/Sales |
0.53 |
0.55 |
0.72 |
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Notes: Financials are only partially disclosed.
Financials from May/2012 fiscal term onwards are not
disclosed.
Forecast
(or estimated) figures for the 31/05/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
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UK Pound |
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
|
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.