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Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
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Name : |
WAVEFRONT SEKIGAHARA CO LTD |
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Registered Office : |
2682 Sekigahara
Sekigaharacho Fuwagun Gifu-Pref 503-1501 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
July 2001 |
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Com. Reg. No.: |
2000-01-015213
(Gifu-Sekigahara) |
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Legal Form : |
Limited
Company |
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Line of Business : |
Import,
retail, wholesale of power stones as gardening supplies. |
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No. of Employees : |
13 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Regular |
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Litigation : |
--- |
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 |
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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 |
WAVEFRONT SEKIGAHARA CO LTD
KK Wavefront
Sekigahara
2682 Sekigahara
Sekigaharacho Fuwagun Gifu-Pref 503-1501 JAPAN
Tel:
0584-43-5974
Fax: 0584-43-5976
URL: http://www.stonesquare.co.jp
E-Mail address: (thru the URL)
Import,
retail, wholesale of power stones as gardening supplies
7
stores in Gifu-Pref
At the
caption address (processing)
TATSURO
HAYASHI, PRES
Hitoshi
Hirooka, dir
Ryuichi
Kobayashi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 604 M
PAYMENTS REGULAR CAPITAL Yen
20 M
TREND UP WORTH Yen 233 M
STARTED 2001 EMPLOYES 13
IMPORTER OF GARDENING STONES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading division separated from Sekistone Co Ltd (See REGISTRATION). Tatsuro Hayashi is concurrently pres at the parent. This is a trading firm for import and retail of power stones for gardening materials. Stones are imported from Italy, India, Brazil, UK, Turkey, Malaysia, Philippines, other. Operates 7 retail stores in Gifu-Pref. Originally wholesaled building stones, processed by the parent, but later switched to the import of power stones as gardening supplies.
Financials are only partially disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen 604 million, a 27% 474 from Yen 474 million in the previous term. Business switched to the import of power stones and sales increased. The recurring profit was posted at Yen 48 million and the net profit at Yen 29 million, respectively, compared with Yen 32 million net profit a year ago.
For the term tht ended Mar 2013 the recurring profit was projected at Yen 50 million and the net profit at Yen 30 million, respectively, on a 7% rise in turnover, to Yen 650 million. Final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Jul 2001
Regd No.: 2000-01-015213 (Gifu-Sekigahara)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,600 shares
Issued:
400 shares
Sum: Yen 20 million
Major shareholders (%): Sekistone Co Ltd* (100)
*.. Mining, processing of granite, marbles, other building stones, at the
caption address, founded 1953, capital Yen 96 million, sales Yen 8,865 million,
net profit Yen 78 million, employees 169, pres Tatsuro Hayashi, concurrently
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports,
wholesales and retails power stones as gardening supplies (of red, blue, pink,
yellow brown, green, purple, while, black colors), others (--100%)
Clients: [Mfrs,
wholesalers] Sekistone Co, Tokoname Epcos Co, Aisin Seiki, Exis Co, other
No. of accounts: 300
Domestic areas of
activities: Centered in Gifu-Pref
Suppliers: [Mfrs,
wholesalers] Imports from Italy, India, Brazil, UK, Turkey, Malaysia,
Philippines, China, other.
Domestically supplied from: Takefuji Shoten, Tokai Kyowa, other
Payment record: Regular
Location: Business area in
Sekigahara, Gifu-Pref. Office premises
at the caption address are owned by the parent, Sekistone Co Ltd, and
maintained satisfactorily.
Bank
References:
Ogaki Kyoritsu Bank (Sekigahara)
Jyuroku Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Annual
Sales |
|
650 |
604 |
474 |
415 |
|
Recur.
Profit |
|
50 |
48 |
.. |
28 |
|
Net
Profit |
|
30 |
29 |
32 |
18 |
|
Total
Assets |
|
|
284 |
N/A |
203 |
|
Net
Worth |
|
|
233 |
204 |
172 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
7.62 |
27.43 |
14.22 |
-17.00 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
82.04 |
.. |
84.73 |
|
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N.Profit/Sales |
4.62 |
4.80 |
6.75 |
4.34 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.03 |
|
UK Pound |
1 |
Rs.104.32 |
|
Euro |
1 |
Rs.88.24 |
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 |
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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 |
|
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 |
|
<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.