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Report Date : |
29.04.2014 |
IDENTIFICATION DETAILS
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Name : |
VENETO CO LTD |
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Registered Office : |
Shimomura Bldg 2F, 2-10-28 Minamisemba
Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2013 |
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Date of Incorporation : |
May 2010 |
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Com. Reg. No.: |
1200-01-144214 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and wholesaler
of apparel and accessories for men, women, and children |
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No of Employees : |
01 |
RATING & COMMENTS
|
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 : |
Slow but Correct |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
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.
|
Source : CIA |
VENETO CO LTD
KK Veneto
Shimomura Bldg 2F,
2-10-28 Minamisemba Chuoku Osaka 542-0081 JAPAN
Tel: 06-6121-2717
URL: N/A
Importer and wholesaler of apparel and accessories
for men, women, and children
Nil
MASAAKI
KAWASAKI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 95 M
PAYMENTS Slow
but Correct CAPITAL Yen 3 M
TREND UP WORTH Yen 6 M
STARTED 2010 EMPLOYES 1
TRADING FIRM SPECIALIZING IN APPAREL & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Masaaki Kawasaki in order to make
most of his experience in the subject line of business. This is a trading firm for import and
wholesale of apparel for men, women and children, and clothing
accessories. Goods are imported from
China, other. Clients include department
stores, supermarkets, retail shops, other.
Financials are disclosed only partially.
The sales volume for Apr/2013 fiscal term amounted to Yen 95 million, an
82% up from Yen 52 million in the previous term. Client network expanded. The net profit was posted at Yen 1 million,
similarly in the previous year.
For the current term ending Apr 2014 the net profit is projected at Yen
2 million, on a 5% rise in turnover, to Yen 100 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May
2010
Regd No.: 1200-01-144214 (Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240 shares
Issued: 60 shares
Sum: Yen 3 million
Major shareholders (%):
Masaaki Kawasaki (100)
Nothing
detrimental is known as to his commercial morality.
Activities: Imports and
wholesales apparel and accessories for men, women, and children (--100%)
Clients: [Mfrs,
wholesalers] Select Shop, other
No. of accounts: 100
Domestic areas of
activities: Centered in the greater-Osaka
Suppliers: [Mfrs,
wholesalers] GAS Japan, True Religion Japan, Dream Works, Contan Co, other
Payment record: Slow but Correct
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Kinki
Osaka Bank (Tenjinbashii & Semba)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/04/2014 |
30/04/2013 |
30/04/2012 |
30/04/2011 |
|
Annual
Sales |
|
100 |
95 |
52 |
45 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
2 |
1 |
1 |
0 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
6 |
5 |
4 |
|
Capital,
Paid-Up |
|
|
3 |
3 |
3 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.26 |
82.69 |
15.56 |
--- |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
2.00 |
1.05 |
1.92 |
0.00 |
|
Notes:
Financials are only partially disclosed.
The 30/04/2011 is the initial accounting term.
Forecast
(or estimated) figures for the 30/04/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.50 |
|
UK Pound |
1 |
Rs.101.69 |
|
Euro |
1 |
Rs.83.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.