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Report Date : |
04.09.2013 |
IDENTIFICATION DETAILS
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Name : |
CALLOWAY GOLF KK |
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|
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Registered Office : |
MG Shiroganedai Bldg, 5-12-7 Shiroganedai
Minatoku Tokyo 108-0071 |
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|
|
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
November 1996 |
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|
|
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Com. Reg. No.: |
0104-01-002396
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, wholesaler and retailer of golf equipment such as golf bags,
clubs, balls, wears & other accessories |
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|
|
|
No. of Employees : |
105 |
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 |
|
Maximum Credit Limit : |
Yen 227.4 Million |
|
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 |
|
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 |
CALLOWAY GOLF KK
Calloway Golf KK
MG Shiroganedai
Bldg, 5-12-7 Shiroganedai Minatoku Tokyo 108-0071 JAPAN
Tel:
03-6328-5900
URL: http://www.callowaygolf.jp
E-Mail address: (thru the URL)
Import,
wholesale, retail of golf equipment
Nil
M A
BOSEMAN, PRES (Only phonetically spelled)
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 12,500 M
PAYMENTS No Complaints CAPITAL Yen 100 M
TREND UP WORTH Yen 1,080 M
STARTED 1996 EMPLOYES 105
TRADING FIRM SPECIALIZING IN GOLF EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 227.4 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Calloway Golf as its marketing
arm in Japan. This is a trading firm for
import, wholesale and retail of golf equipment: golf bags, clubs, balls, wears,
other. Goods are wholly imported from
Calloway Golf. Clients include sports
shops, sports clubs, other, nationwide.
Financials are only partially disclosed.
The sales volume for Dec/2012 fiscal term amounted to Yen 12,500
million, a 9% up from Yen 11,518 million in the previous term. The net profit is estimated posted at Yen 125
million, compared with Yen 110 million a year ago. The net profits are not precisely disclosed
and they are all estimated only.
For the current term ending Dec 2013 the net profit is projected at Yen
130 million, respectively, on a 4% rise in turnover, to Yen 13,000
million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 227.4 million, on 30 days normal terms.
Date Registered: Nov 1996
Regd No.: 0104-01-002396 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,000 shares
Issued:
2,000 shares
Sum: Yen 100 million
Major shareholders (%): Calloway Golf (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports,
wholesales and retails golf equipment: golf bags, clubs, balls, wears, other
accessories (--100%)
Clients: [Mfrs,
wholesalers] Alpen Co Ltd (group stores), Xebio Co, Bic Camera, Niki Golf,
Tsuruya, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Calloway Golf
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Kojimachi-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Annual
Sales |
|
13,000 |
12,500 |
11,518 |
13,438 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
130 |
125 |
110 |
130 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
1,080 |
955 |
845 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.00 |
8.53 |
-14.29 |
-10.66 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.00 |
1.00 |
0.96 |
0.97 |
|
Notes:
Financials are only partially disclosed.
Profits are only estimated as not disclosed.
Forecast
(or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.89 |
|
UK Pound |
1 |
Rs.103.95 |
|
Euro |
1 |
Rs.88.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.