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Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
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Name : |
FUJI CO., LTD. |
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Registered Office : |
1-19-2, Kajiwara, Kamakura-shi, Kanagawa pref. 247-0063 |
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Country : |
Japan |
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Date of Incorporation : |
01.12.1970 |
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Com. Reg. No.: |
0210-01-009476 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in manufacturing,
import and sales of Garden furniture, Beach parasol, Market umbrella, Street
furniture, Items made of cane, Other interior items for hotels and
restaurants, Stone products, Items for driving range, Umbrella for golf
course, General umbrella &Tent and installation work |
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No of Employees : |
22 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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. 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 |
FUJI CO., LTD.
Company name: FUJI
CO., LTD.
Name in local language: K.K. FUJI
Office address: 1-19-2,
Kajiwara, Kamakura-shi, Kanagawa pref. 247-0063
Country: Japan
Office tel: 0467-44-3000
Office fax: 0467-47-5278
Website: www.fuji-kamakura.co.jp
Business type: Manufacturer
Industry: Garden furniture,
parasol, tent.
Established: December
1, 1970
Capital: Jp. 36,450,000 yen
Employees: 22
Corporate formation: Private
Corporation No.: 0210-01-009476 (Yokohama Legal
Affairs Bureau)
Paid in capital : Jp.
36,450,000 yen
Number of authorized shares : 129,600 shares
Shares issued : 72,900
shares
Number of shareholder : 3
Name of shareholders
Number of
shares (%)
-----------------------------------------------------------------------------------------------------------
Mr. Hisanori Anzai, president 36,134
shares (49.6)
Mr. Hisayuki Anzai, former president 29,586
shares (40.6)
Fuji Co., Ltd.(treasury stock)
7,180 shares ( 9.8)
-----------------------------------------------------------------------------------------------------------
Total
72,900 shares
(100.0)
Activity Product/Service
Description
-------------------------------------------------------------------------------
Manufacturing Garden furniture
Manufacturing Parasol, tent.
President Mr. Hisanori Anzai
Nationality: Japan
Senior Managing Director Mr. Masaharu Ohko
Nationality: Japan
Managing Director Mr. Takayoshi Akai
Nationality: Japan
Auditor Mr. Mitsuaki Tamura
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
Mr. Hisanori Anzai
President and representative director
The fifth generation from the founder
Born on October 12, 1957
Education: Graduated from Chuo University in March 1981
Business career:
Apr. 1981: Employed
by Shinko Trading Corp.
May 1984: Employed
by the subject.
Jun. 1984:
Dispatched to “Waver Steven Inc.,” in the United States for a year.
Sep. 1988:
Managing director of the subject.
Jan. 2008:
Representative director and president.
Home address: 1-4-15-1412, Nishi-oi, Shinagawa-ku, Tokyo 140-0015
Currency: (local currency - Jp. yen)
-------------------------------------------------------------------------------------
Year | Sales | Net Income
-------------------------------------------------------------------------------------
|
2008 |
860,110,000 |
24,980,000 |
|
2009 |
619,876,000 |
2,429,000 |
|
2010 |
690,789,000 |
10,336,000 |
|
2011 |
578,397,000 |
1,314,000 |
|
2012 |
729,397,000 |
11,021,000 |
|
2013 |
683,090,000 |
4,233,000 |
*Book Closing*
============
October 31st
*Financials*
==========
As a private limited company, no official financial statement is
required to be disclosed publicly.
*Bank Details*
============
Bank Name : Mizuho Bank, Ltd.
Branch : Kamakura
Bank Name : Bank of
Tokyo-Mitsubishi UFJ, Ltd.
Branch : Kamakura
Bank Name : Bank of Yokohama,
Ltd.
Branch : Kamakura
*Credit Opinion*
=============
The subject is a time-honored firm specializing in manufacture, imports
and sales of garden furniture, parasol and tents.
Sales, which looks small for its long business history, has been
declining or almost flat recently.
Some instability is seen in terms of net income thought the minimal
level has been worked out.
Although the exact financial condition is not available due to
non-disclosure of its financial statements, there would be a certain amount of
retained earnings.
A concern is a growing power for the future.
*Main Products & Services*
======================
Manufacture, import and sales of the following items:
-
Garden
furniture(75%)
-
Beach
parasol
-
Market
umbrella
-
Street
furniture
-
Items
made of cane
-
Other
interior items for hotels and restaurants
-
Stone
products
-
Items
for driving range
-
Umbrella
for golf course
-
General
umbrella
-
Tent
and installation work
*Address*
=========
Registered address is the same as the operational address.
Its website shows that the main office is located at 4-1-8, Kajiwara,
Kamukura-shi, Kanagawa pref. 247-0063. The subject currently owns six
facilities around the area.
TEL: 81-467-44-3000
FAX: 81-467-44-5278
Date Development
-----------------------------------------------------------------------------------------------
1873 Started business of manufacturing western-style
umbrella in Tokyo.
1902 The business was named as “Yamada Shoten.”
1914 Appointed
as an authorized supplier by The Imperial Household
Agency.
December 1, 1970 Incorporated at the current registered
address under the current
company name with
an investment of JPY 3 million, and embarked
onto manufacturing
of garden furniture.
1974 Increased the capital to JPY 8.1 million.
1978 Increased the capital to JPY 16.2 million.
1979 Increased the capital to JPY 24.3 million.
1982 The factory was certified as a GS-Mark factory.
1983 Increased the capital to JPY 36.45 million.
*Suppliers*
==========
Tokai Alumite Kogyosho Co., Ltd.
Kato Corp.
Shinko Trading Corp.
Showa Denko K.K.
Saito Seisakusho Co., Ltd.
Teijin Frontier Ltd.
Imports from a dozen countries in Europe and North America
*Customers*
==========
Prince Hotels, Inc.
Sumisho Mitsui Kenzai Co., Ltd.
Noritz Chairs Co., Ltd.
ANA Trading Co., Ltd.
Isetan Mitsukoshi Department Stores Ltd.
Kinki Nippon Tourist, Inc.
Kirin Breweries Co., Ltd.
Other hotels, inns and restaurants
Beverage firms
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
UK Pound |
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.