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Report Date : |
04.08.2014 |
IDENTIFICATION DETAILS
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Name : |
MUSTARDGIGA CO LTD |
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Registered Office : |
Theodore Amex 4F, 5-27-4 Minami-O’I Shinagawaku |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
June 2007 |
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Com. Reg. No.: |
0108-01-017150 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, exports and wholesales PCs & peripherals: PC
motherboards, PC cases, note pad, PC/TV tuners, coolers, other (--100%) |
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No. of Employees : |
7 |
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 : |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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. 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 |
MUSTARDGIGA CO LTD
Mustardgiga KK
Theodore Amex 4F, 5-27-4 Minami-O’I Shinagawaku Tokyo 140-0013 JAPAN
Tel: 03-5753-5898
Fax: 03-5753-5897
*.. Registered at: 5-23-4-203 Omori-Nishi Ohtaku Tokyo
URL: http//:www.mustardgiga.co.jp
E-mail: sales@mustardgiga.co.jp
ACTIVITIES: Import, export of PCs & peripherals
BRANCHES: Taiwan (Giga-Byte Technology Co Ltd)
(subsidiary)
OFFICER(S): HIROSHI MIYATA, PRES
Yen Amount: In million Yen,
unless otherwise stated
FINANCES R/WEAK A/SALES Yen 122 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 30 M
TREND SLOW WORTH Yen 45 M
STARTED 2007 EMPLOYES 7
COMMENT: TRADING FIRM SPECIALIZING IN PCS &
PERIPHERALS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS
The subject company was established by Hiroshi Miyata in order to make
most of his experience in the subject line of business. This is a trading firm specializing in
importing PCs & peripherals, mostly imported from Taiwan. Has a JV firm in Taiwan, Giga-Byte Technology
Co ltd. Clients include electronics
mfrs, wholesalers, other.
Financials are only partially disclosed.
The sales volume for Dec/2013 fiscal term amounted to Yen 122 million, a
5% down from Yen 129 million in the previous term. Demand declined. The net profit was posted at Yen 1 million,
compared with Yen 2 million a year ago.
For the current term ending Dec 2014 the net profit is projected at Yen
2 million, on a 2% rise in turnover, to Yen 125 million.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
Date Registered: Jun
2007
Regd No.: 0108-01-017150
(Tokyo-Ohtaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,400
shares
Issued: 600 shares
Sum: Yen
30 million
Major shareholders
(%):
Hiroshi Miyata (75), Giga-Byte
Technology Co (15), Kohei Hayashi (10)
No. of
shareholders: 3
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales PCs & peripherals: PC motherboards, PC cases, note pad,
PC/TV tuners, coolers, other (--100%)
(Handling Brands):
GIGABYTE,
Hauppauge, KONIK, JMAX, SEED, TECO, other
Clients: [Mfrs, wholesalers]
Japan Mustar Seed Corp, Mouse Computer, Japan Digital Lab, Tsukumo Electric Co,
other
No. of accounts: 300
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs] Giga-Byte
Technology Co Ltd, other from Taiwan.
Payment record: Slow But Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Hamamatsucho)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
|
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
Annual Sales |
|
125 |
122 |
129 |
200 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
2 |
1 |
2 |
3 |
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Total Assets |
|
|
N/A |
N/A |
N/A |
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Net Worth |
|
|
45 |
44 |
42 |
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Capital, Paid-Up |
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|
30 |
30 |
30 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.46 |
-5.43 |
-35.50 |
233.33 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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|
.. |
.. |
.. |
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N.Profit/Sales |
|
1.60 |
0.82 |
1.55 |
1.50 |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.85 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
-- |
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.