|
Report Date : |
30.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
WING ACE
CORPORATION |
|
|
|
|
Registered Office : |
Toranomon Marine Bldg 5F, 3-18-19
Toranomon Minatoku Tokyo 105-0001 |
|
|
|
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Country : |
Japan |
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|
|
Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May 1994 |
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|
|
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Legal Form : |
Limited Company |
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|
|
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Line of Business : |
importer and
wholesaler of foodstuffs such as Spaghetti, Pasta
& Macaroni. |
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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 |
|
|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 |
|
Moderate High Risk |
C1 |
|
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 |
WING ACE CORPORATION
Wing Ace
Toranomon Marine
Bldg 5F, 3-18-19 Toranomon Minatoku Tokyo 105-0001, JAPAN
Tel:
03-5404-7533 Fax: 03-5404-3340
URL: http://www.wingace.jp
E-Mail address: (thru the URL)
importer and wholesaler of foodstuffs such as Spaghetti, Pasta & Macaroni.
Osaka
YOSHIHISA
HARADA, PRES Makoto Hasebe, ch
Fumiyuki
Kamei, dir Kazuro
Ogawa, dir
Kazuo
Asano, dir Tetuya
Aizawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,019 M
PAYMENTSNo Complaints CAPITAL Yen 30 M
TREND UP WORTH Yen 857 M
STARTED 1994 EMPLOYES 25
TRADING FIRM SPECIALIZING IN FOODSTUFF.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Makoto Hasebw in order to make most of his experience in the subject line of business. This is a trading firm for import and wholesale of foodstuffs: spaghetti, pasta & macaroni. Goods are imported from Europe, USA, other. Clients include foodstuffs stores, makers, other. In 2009 went under Kamei Corp (See REGISTRATION).
The sales volume for Mar/2013 fiscal term amounted to Yen 2,019 million, a 5% up from Yen 1,917 million in the previous term. The net profit was posted at Yen 145 million, compared with Yen 119 million a year ago.
For the term that ended Mar 2014 the net profit was projected at Yen 160 million, on a 4% rise in turnover, to Yen 2,100 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: May1994
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
2,400 shares
Issued:
600 shares
Sum: Yen 30 million
Major shareholders
(%): Kamei * (100)
*.. Largest wholesaler of LPG, Sendai, founded 1932, listed Tokyo S/E, capital Yen 8,132 million, sales Yen 516,271 million, operating profit Yen 8,842 million, recurring profit Yen 10,383 million, net profit Yen 9,263 million, total assets Yen 236,454 million, net worth Yen 69,920 million, employees 5,798, pres Fumiyuki Kamei
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales foodstuffs: spaghetti, macaroni, pasta, other (--100%)
Clients: [Mfrs, wholesalers] Camel Coffee, Styling Life Holdings Inc, World Foods, other
No. of accounts: 250
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from Europe, USA, other
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Ginza-Chuo)
MUFG
(Ueno-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
2,100 |
2,019 |
1,917 |
1,836 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
160 |
145 |
119 |
89 |
|
Total
Assets |
|
|
1,282 |
1,164 |
1,196 |
|
Current
Assets |
|
|
1,207 |
1,108 |
|
|
Current
Liabs |
|
|
354 |
360 |
|
|
Net
Worth |
|
|
857 |
747 |
652 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.Ttl
in Million (¥) |
|
|
36 |
36 |
6 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.01 |
5.32 |
4.41 |
7.94 |
|
|
Current Ratio |
|
.. |
340.96 |
307.78 |
.. |
|
N.Worth Ratio |
.. |
66.85 |
64.18 |
54.52 |
|
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
7.62 |
7.18 |
6.21 |
4.85 |
|
|
Return On Equity |
.. |
16.92 |
15.93 |
13.65 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.52 |
|
UK Pound |
1 |
Rs.101.77 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.