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Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
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Name : |
DAITO TRADE CORPORATION |
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Registered Office : |
Daito Bldg 3F, 2-3-14 Saiwaicho Naniwaku Osaka 556-0021 |
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Country : |
Japan |
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Date of Incorporation : |
December 1978 |
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Com. Reg. No.: |
1200-01-038753 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of working tools, machine tools |
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No. of Employees |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Unknown |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2013 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 is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy
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Source
: CIA |
DAITO TRADE
CORPORATION
REGD NAME: Daito Bussan KK
MAIN OFFICE: Daito Bldg 3F, 2-3-14 Saiwaicho Naniwaku Osaka 556-0021 JAPAN
Tel: 06-6568-6855 Fax: 06-6568-6855
URL: N/A
Export of working tools, machine tools
Nil
SHIGEHIRO KISHIMOTO, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES UNDETD A/SALES Yen 900 M*
PAYMENTS UNKNOWN CAPITAL Yen 10 M
TREND UNDETD WORTH Yen 25 M*
STARTED 1978 EMPLOYES 5
*.. Estimated figures only & not verified
TRADING FIRM FOR EXPORT OF WORKING TOOLS.
FINANCIAL SITUATION UNDETERMINED DUE TO THE LACK OF RECENT PROVEN BUSINESS BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Shigehiro Kishimoto in order to make most of his experience in the subject line of business. This is a trading firm specializing in exporting working tools, machine tools, other Goods are exported to China, S/E Asia, Mid/Near East, Taiwan, Hong Kong, India, Malaysia, Pakistan, other. The firm does not disclose any of its financials after the Sept/2011 fiscal term.
Financials are not disclosed after the 30/09/2011 fiscal term. The only figures obtained are for Sept/2010 term when the firm reported sales at Yen 800 million. Even since, the firm declined to give any financial figures. The most probable figures for Sept/2013 fiscal term are around Yen 900 million, which third parties agree, but they are not verified by any proven business.
Both the financial situation and business records are not determined due to the lack of proven business records but should be good for MODERATE business engagements. .
Date Registered: Dec 1978
Regd No.: 1200-01-038753 (Osaka-Naniwaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 24,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%): Shigehiro Kishimoto (100)
Nothing detrimental is known as to his commercial morality.
Activities: Exports working tools, machine tools, others (--100%).
Clients: [Mfrs, wholesalers] Exports to: S/E Asia, Mid/Near East, China, Taiwan, Hong Kong, Malaysia, Pakistan, India, other
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Fuji Electric Co, Okaya & Co, Hoei Kinzoku Kogyo, Hakuyo Sangyo Co, Kusano Co, other
Payment record: Unknown
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Namba)
Saikyo Bank (Uebu-1-chome)
Relations: Money deposits & transfers only
(In Million Yen)
NOT DISCLOSED &
UNAVAILABLE
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.38 |
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|
1 |
Rs.101.63 |
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Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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-- |
NB |
New Business |
-- |
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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.