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Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
MARUBENI FASHION LINK LTD |
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Registered Office : |
Yoyogi 1-chome Bldg 4F, 1-22-1 Yoyogi Shibuyaku Tokyo 151-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April, 1982 |
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Com. Reg. No.: |
0110-01-052802 (Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Textile, Yarn, Clothing,
Clothing Accessories. |
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No. of Employees : |
244 |
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 |
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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 |
MARUBENI FASHION LINK LTD
REGD NAME: Marubeni
Fashion Link KK
MAIN OFFICE: Yoyogi
1-chome Bldg 4F, 1-22-1 Yoyogi Shibuyaku Tokyo 151-0053 JAPAN
Tel: 03-3370-9161 Fax: 03-3370-9130
E-Mail address: (thru
the URL)
Import,
export, wholesale of textile, yarn, clothing, clothing accessories
Osaka
ATSUSHI
SAITOH, PRES Yoshio Hoden, mgn
dir
Akihiro Yamamoto, dir Yoshiyuki Matsumoto, dir
Yuji Takigawa, dir Atsushi Watanabe, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 65,000 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen 450 M
TREND SLOW WORTH Yen 4,635 M
STARTED 1982 MPLOYES 244
IMPORTER
& EXPORTER OF TEXTILES, WHOLLY OWNED BY MARUBENI CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGGEMENTS.
The
subject company was established on the basis of a textile division separated
from Marubeni Corp (See REGISTRATION). This is a trading firm for import and export
of textiles, textile goods, accessories.
In 2008, OEM operation division was transferred from the parent. Clients include major apparel mfrs,
wholesalers, other, nationwide.
Financials are consolidated by the parent, Marubeni Corp,
and only partially disclosed.
The sales
volume for Mar/2014 fiscal term amounted to Yen 65,000 million, a 19% down from
Yen 80,000 million in the previous term.
Sales declined as demand very sluggish domestically. The net profit was posted at Yen 612 million,
compared with Yen 847 million net profit a year ago.
For
the current term ending Mar 2015 the net profit is projected at Yen 650
million, on a 5% rise in turnover, to Yen 68,500 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Apr 1982
Regd No.: 0110-01-052802
(Tokyo-Shibuyaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 900,000 shares
Issued:
900,000 shares
Sum: Yen 450 million
Major shareholders (%): Marubeni
Corp*(100)
*.. Major general trading house,
listed Tokyo SE, founded 1949, capital Yen 262,686 million, turnover Yen
7,055,708 million, operating profit Yen 157,462 million, recurring profit Yen
236,373 million, net profit Yen 210,945 million, total assets Yen 7,150,226
million, net worth Yen 1,417,571 million, employees 39,465, pres Fukuya Kokubu
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Imports, exports and wholesales fabrics, yarn, clothing for women (60%), men
(20%), children (10%), clothing accessories, others (10%).
Clients:
[Mfrs, wholesalers] San-Ei International, Impact 21, Aba House International,
Value Planning, Nishimatsuya Chains, Five Foxes Co, Bay Cruise, Tomorrow Land,
Five Fox Co, other
No. of accounts: 800
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Takisada Osaka, Takisada Nagoya, Kyoei Iryo, Spirits,
Teijin Ltd, Toray, Sun Top, Matsuoka Trading, other.
Payment record: Regular
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Yokoyamacho)
SMBC (Asakusabashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
68,500 |
65,000 |
80,000 |
69,488 |
|
Recur.
Profit |
|
|
|
|
1,727 |
|
Net
Profit |
|
650 |
612 |
847 |
905 |
|
Total
Assets |
|
|
19,868 |
20,965 |
24,776 |
|
Current
Assets |
|
|
19,523 |
20,513 |
24,091 |
|
Current
Liabs |
|
|
15,020 |
16,273 |
20,517 |
|
Net
Worth |
|
|
4,635 |
4,498 |
4,051 |
|
Capital,
Paid-Up |
|
|
450 |
450 |
450 |
|
Div.Ttl
in Million (¥) |
|
|
0.00 |
0.00 |
452 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.38 |
-18.75 |
15.13 |
1.15 |
|
Current Ratio |
|
.. |
129.98 |
126.06 |
117.42 |
|
N.Worth Ratio |
|
.. |
23.33 |
21.45 |
16.35 |
|
R.Profit/Sales |
|
.. |
.. |
.. |
2.49 |
|
N.Profit/Sales |
|
0.95 |
0.94 |
1.06 |
1.30 |
|
Return On Equity |
|
.. |
13.20 |
18.83 |
22.34 |
Notes:
Financials are only partially disclosed as from the 31/03/2010 fiscal term.
Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.88 |
|
|
1 |
Rs.97.02 |
|
Euro |
1 |
Rs.76.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
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|
Report Prepared
by : |
NIT |
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.