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Report Date : |
16.09.2013 |
IDENTIFICATION DETAILS
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Name : |
EVERGREEN CORPORATION |
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Registered Office : |
Daini Dempa Bldg 8F, 2-14-10 Sotokanda Chiyodaku Tokyo
101-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
March 2008 |
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Com. Reg. No.: |
0100-01-116403 (Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale, retail (on-line shops) of AV equipment, PC peripherals. |
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No. of Employees : |
25 |
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 |
|
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 |
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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
EVERGREEN CORPORATION
REGD NAME: KK Evergreen
MAIN OFFICE: Daini Dempa Bldg 8F, 2-14-10 Sotokanda Chiyodaku Tokyo 101-0021 JAPAN
Tel: 03-5294-6327
Fax: 03-5298-7266
E-Mail address: info@everg.co.jp
Import, wholesale, retail (on-line shops) of AV equipment, PC peripherals
Yashio (Saitama-Pref) (Distribution Center)
Manabu Hirata, dir
Tsutomu Yoshikawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,860 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 104 M
STARTED 2008 EMPLOYES 25
TRADING FIRM SPECIALIZING IN PC PERIPHERALS, IT-RELATED PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS BUT DOUBTFUL FOR CREDIT ENGGAGEMENTS: US$500,000 / O/A 30 DAYS.
The subject company was established on the basis of a trading division separated from Third Wave Holdings Inc (See REGISTRATION). This is a trading firm specializing in import, retail (on-line shops) and wholesale of AV equipment, IT-related products, PC & peripherals, other. 70% of the goods are retailed online. Wholesaling clients include PC shops, mfrs, other.
The sales volume for Jul/2012 fiscal term amounted to Yen 2,860 million, a 7% up from Yen 2,670 million in the previous term. The net profit was posted at Yen 3 million, compared with Yen 60 million a year ago.
For the term that ended Jul 2012 the net profit was projected at Yen 50 million, on a 3% rise in turnover, to Yen 2,950 million. The final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements. The proposed credit amount, however, is considered TOO HIGH from the recent financial status. Max credit limit is estimated at Yen 19.8 million, on 30 days normal terms.
Date Registered: Mar 2008
Regd No.: 0100-01-116403 (Tokyo-Chiyodaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Third Wave Holdings Inc* (100)
*.. PC shop operator, at the caption address, operating 35 shops nationwide, founded
1984, capital Yen 40 million, sales Yen 29,500 million, net profit Yen 44 million, employees 70, pres Kensuke Ozaki, concurrently
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports, retails (online) and wholesales AV equipment, PC & peripherals, IT-related products, other (--100%).
Clients: [Consumers, mfrs, wholesalers] Consumers (70%), Sofmap Corp, Joshin Electric, Third Wave Corp, Daiwabo Information System, Softbank, Yodobashi Camera, Tokyu Handa, Third Wave Technologies, other
No. of accounts: 100 (Wholesale Div)
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Hunykey, A-Data, DICOTA, Daiwabo Information System, Softbank Mobile, Transcend Co, other
Payment record: No complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References: MUFG (Kanda)
Mizuho Bank (Ueno)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
|
|
Annual
Sales |
|
2,950 |
2,860 |
2,670 |
2,800 |
|
Recur.
Profit |
|
|
|
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Net
Profit |
|
50 |
3 |
60 |
31 |
|
Total
Assets |
|
|
904 |
962 |
815 |
|
Current
Assets |
|
|
889 |
943 |
805 |
|
Current
Liabs |
|
|
800 |
841 |
742 |
|
Net
Worth |
|
|
104 |
121 |
73 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.15 |
7.12 |
-4.64 |
0.00 |
|
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Current Ratio |
|
.. |
111.13 |
112.13 |
108.49 |
|
N.Worth Ratio |
.. |
11.50 |
12.58 |
8.96 |
|
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
1.69 |
0.10 |
2.25 |
1.11 |
|
|
Return On Equity |
.. |
2.88 |
49.59 |
42.47 |
|
Notes: Forecast (or estimated) figures for the 31/07/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.79 |
|
|
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.67 |
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 |
|
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.