|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MIDORI TRADING COMPANY |
|
|
|
|
Registered Office : |
Nagahori Yachiyo Bldg 9F, 1-11-9 Minamisemba Chuoku Osaka 52-0081 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.04.2013 |
|
|
|
|
Date of Incorporation : |
May, 2002 |
|
|
|
|
Com. Reg. No.: |
(Osaka-Chuoku) 028513 |
|
|
|
|
Legal Form : |
Private Limited Company (Yugen Kaisha) |
|
|
|
|
Line of Business : |
Subject is engaged in the Import, export, wholesale of nonferrous
metal products |
|
|
|
|
No. of Employees : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 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 exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
|
Source
: CIA |
MIDORI TRADING
COMPANY
REGD NAME: YK Midori Boeki
MAIN OFFICE: Nagahori Yachiyo Bldg 9F, 1-11-9 Minamisemba
Chuoku Osaka 52-0081 JAPAN
Tel:
06-6260-5021
Fax: 06-6260-5022
URL: N/A
Import, export, wholesale of nonferrous metal products
Nil
YOSHIFUMI NAGAI, PRES
Keiko Nagai, dir
In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 356 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen
10 M
TREND UP WORTH Yen 25 M
STARTED 2002 EMPLOYES 4
TRADING FIRM SPECIALIZING IN NONFERROUS METAL PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by Yoshifumi Nagai in order to make
most of his experience in the subject line of business. This is a family-based trading firm
specializing for import, export and wholesale of nonferrous metal products:
coils, wires, gaskets, other. Goods are
imported from India, China, Taiwan, other.
Financial are only partially disclosed as is the case with family-based
companies
The sales volume for Apr/2013 fiscal term amounted to Yen 356 million, a
2% down from Yen 363 million in the previous term. The net profit was posted at Yen 1 million,
up from Yen 1 million net losses a year ago.
For the current term ending Apr 2014 the net profit is projected at Yen
3 million, on a 4% rise in turnover, to Yen 370 million. Weaker Yen may raise earnings in Yen
terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May 2002
Regd No.: (Osaka-Chuoku) 028513
Legal Status:
Private Limited Company (Yugen Kaisha)
Regd Capital: Yen
10 million
Major shareholders
(%): Yoshifumi Nagai (90), Keiko Nagai (10)
No. of
shareholders: 2
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales nonferrous metal products: copper coils, copper wires, copper
tubes, metal gaskets, brass pipes, valves (--50%), oil seals (30%), others
(20%)
Clients: [Mfrs,
wholesalers] Wipro Ltd, Kamla Dials, Crompton Greaves Ind, Needle Ind, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Mitsui Sumitomo Metal Mining Brass & Copper Co, Mitsubishi
Shindoh Co, Furukawa Electric Co, Nippon Seisen 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:
Tokushima
Bank (Osaka)
Bank of
India (Osaka)
Relations:
Satisfactory
|
Terms Ending: |
|
30/04/2014 |
30/04/2013 |
30/04/2012 |
30/04/2011 |
|
Annual Sales |
|
370 |
356 |
363 |
326 |
|
Recur. Profit |
|
.. |
.. |
.. |
-1 |
|
Net Profit |
|
3 |
1 |
-1 |
-1 |
|
Total Assets |
|
|
N/A |
N/A |
45 |
|
Net Worth |
|
|
25 |
24 |
25 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.93 |
-1.93 |
11.35 |
30.40 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
55.56 |
|
|
N.Profit/Sales |
0.81 |
0.28 |
-0.28 |
-0.31 |
|
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/04/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.50 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.