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Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SOGA CO LTD |
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Registered Office : |
5-5-8 Hakusan Bunkyoku Tokyo 112-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
June, 1959 |
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Com. Reg. No.: |
0100-01-048518 (Tokyo-Bunkyoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Rental of ceremonial clothing, photographing |
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No. of Employees : |
140 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit: |
Yen 52.2 million |
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Status : |
Satisfactory |
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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 |
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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 |
SOGA CO LTD
KK Soga
5-5-8 Hakusan Bunkyoku Tokyo 112-0001 JAPAN
Tel: 03-3946-3601 Fax:
03-3946-9154
E-Mail address: (thru the URL)
Rental of ceremonial clothing, photographing
Saitama, Kanagawa, other (Tot 16)
SHUICHI SOGA, PRES Yuriko
Yoshinari, dir
Junko Soga, dir Yoshihiro
Suzuki, dir
Yasumoto Suzuki, dir Masahiro
Soga, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 2,900 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 50 M
TREND UP WORTH Yen 792 M
STARTED 1959 EMPLOYES 140
RENTAL OF CEREMONIAL GARMENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 52.2 MILLION, 30 DAYS NORMAL TERMS
The subject company is a specialized rental service for dresses/garments
for wedding, coming-of-age ceremony, graduation, other ceremonial events. It also offers photographing service,
too. Bases are in hotels, resorts,
shrines, temples, other.
Financials are only partially disclosed
The sales volume for Dec/2012 fiscal term amounted to Yen 2,900 million,
a 3% up from Yen 2,815 million in the previous term. The net profit was posted at Yen 10 million,
compared with Yen 8 million a year ago.
For the current term ending Dec 2013 the net profit is projected at Yen
15 million, on a 3% rise in turnover, to Yen 2,980 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 52.2 million, on 30 days normal terms.
Date
Registered: Jun 1959
Regd
No.: 0100-01-048518 (Tokyo-Bunkyoku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
400,000 shares
Issued:
100,000 shares
Sum:
Yen 50 million
Major
shareholders (%): Tokyo Small & Medium Business Investment & Consultation Co,
Yoshihiro Suzuki, Shuichi Soga, Junko Soga, Yasumoto Suzuki, Masahiro Soga,
other (Breakdown unavailable)
No.
of shareholders: 12
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Rental of
ceremonial garments, supplies for: wedding ceremony, graduation ceremony,
coming-of-age ceremony, other ceremonial events; photographing services
(--100%)
Clients: [Mfrs,
wholesalers] Happo-En, Isetan Mitsukoshi holdings, Sheraton Grande Tokyo Bay
Hotel, Hotel Management Japan, Hotel Grand Pacific, Sakuragi Shrine, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mikimoto & Co, Claudia Co, Quadrille International, other
Payment
record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (Sugamo)
Sugamo Shinkin Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual Sales |
|
2,980 |
2,900 |
2,815 |
2,996 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
15 |
10 |
8 |
65 |
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Total Assets |
|
|
N/A |
N/A |
N/A |
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Net Worth |
|
|
792 |
782 |
774 |
|
Capital, Paid-Up |
|
|
50 |
50 |
50 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
2.76 |
3.02 |
-6.04 |
3.74 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.50 |
0.34 |
0.28 |
2.17 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
---- |
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.