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Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
J FRONT DESIGN & CONSTRUCTION CO LTD |
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Registered Office : |
Ueyama Bldg 5F, 2-1-3 Minami-Semba Chuoku
Osaka 542-0081 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
November 1998 |
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Legal Form : |
Limited Company |
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Line of Business : |
Construction company, house & building finishing interior works, constructs hotels, restaurants, shops, also wholesaler of furniture, house interior items |
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No. of Employees : |
310 |
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 921.8 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 |
|
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 |
J FRONT DESIGN & CONSTRUCTION CO LTD
KK J Front Kenso
Ueyama Bldg 5F,
2-1-3 Minami-Semba Chuoku Osaka 542-0081 JAPAN
Tel:
06-4705-6200
Fax: 06-4705-6900
*.. The is its one of Hyogo Stores
URL: http://www.jfdc.co.jp
E-Mail address: (thru
the URL)
Housing
construction, interior works, other
Tokyo,
Sapporo, Sendai, Kobe, Nagoya, Fukuoka, Okinawa
Tokyo (2),
Kobe (3) (as given)
SADAYUKI
AYUKAWA, PRES
Kazuo
Masuzawa, dir
Hiroto
Tsukada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 32,483 M
PAYMENTS No Complaints CAPITAL Yen 100 M
TREND UP WORTH Yen 4,686 M
STARTED 1998 EMPLOYES 310
CONSTRUCTION AND HOUSE INTERIOR FINISHING WORKS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 921.8 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by J Front Retailing Co
Ltd (See REGISTRATION) as its
construction and house finishing interior works company. It constructs hotels, restaurants, shops,
offices, other. It also makes furniture,
house interior furniture, other. Clients
include all construction companies, department stores & group firms, other.
The sales volume for Feb/2013 fiscal term amounted to Yen 32,483 million, an 11% up from Yen 29,261 million in the previous term. Housing furniture and interior items were sold well. The recurring profit was posted at Yen 630 million and the net profit at Yen 373 million, respectively, compared with Yen 558 million recurring profit and Yen 239 million net profit, respectively, a year ago.
For the current term ending Feb 2014 the recurring profit is projected at Yen 650 million and the net profit at Yen 380 million, respectively, on a 3% rise in turnover, to Yen 33,500 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 921.8 million, on 30 days normal terms.
Date Registered: Nov 1998
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
8,000 shares
Issued:
shares
Sum: Yen 2,000 million
Major shareholders (%): 100
No. of shareholders: J
Front Retailing Co Ltd* (100)
*.. Holding company founded Sept 2007 thru management consolidations between Daimaru & Matsuzakaya Holdings, Tokyo, listed Tokyo S/E, capital Yen 30,000 million, sales Yen 1,092,756 million, operating profit Yen 30,857 million, recurring profit Yen 32,202 million, net profit Yen 12,183 million, total assets Yen 1,009,165 million, net worth Yen 341,318 million, employees 8,323, pres Ryoichi Yamamoto
Nothing detrimental is known as to the commercial morality of executives.
Activities: Construction company, house & building finishing interior works, constructs hotels, restaurants, shops, also wholesales furniture, house interior items, others (--100%)
Clients: [Mfrs, wholesalers] Daimaru & Group firms, Matsuzakaya & its Group firms, Takenaka Corporation, Obayashi Corporation, Shimizu Corp, Kajima Corp, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Semba Corp, Nomura Co, Sumitomo Light Metal Ind, Hakusuisha, Ishimaru, other
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Osaka-Nishi)
SMBC
(Semba)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
|
|
Annual
Sales |
|
33,500 |
32,483 |
29,261 |
34,995 |
|
Recur.
Profit |
|
650 |
630 |
558 |
|
|
Net
Profit |
|
380 |
373 |
239 |
165 |
|
Total
Assets |
|
|
12,753 |
14,238 |
17,797 |
|
Current
Assets |
|
|
11,816 |
13,386 |
|
|
Current
Liabs |
|
|
7,539 |
9,219 |
|
|
Net
Worth |
|
|
4,686 |
4,383 |
4,143 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
4.00 |
70.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.13 |
11.01 |
-16.39 |
39.01 |
|
|
Current Ratio |
|
.. |
156.73 |
145.20 |
.. |
|
N.Worth Ratio |
.. |
36.74 |
30.78 |
23.28 |
|
|
R.Profit/Sales |
|
1.94 |
1.94 |
1.91 |
.. |
|
N.Profit/Sales |
1.13 |
1.15 |
0.82 |
0.47 |
|
|
Return On Equity |
.. |
7.96 |
5.45 |
3.98 |
|
Notes:
Forecast (or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
UK Pound |
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.59 |
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 |
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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.