MIRA INFORM REPORT
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Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
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Name : |
CLUB 21 |
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Registered Office : |
MI Bldg Annex 6F, 3-28-12 Shinjuku Shinjukuku |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Establishment : |
June 2011 |
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Com. Reg. No.: |
0111-01-060042
(Tokyo-Shinjukuku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Importer, Wholesaler of Branded Fashion Clothing |
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No of Employees : |
37 |
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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Maximum Credit Limit : |
YEN 40.2 Million |
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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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
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.
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Source
: CIA |
CLUB 21 JAPAN CO LTD
REGD NAME: KK
Club 21 Japan
MAIN OFFICE: MI
Bldg Annex 6F, 3-28-12 Shinjuku Shinjukuku Tokyo 160-0022 JAPAN
Tel:
03-5360-3270
URL: http://www.jp.club21globl.com
E-Mail
address: ask@jp.club21global.com
Import, wholesale of women’s branded clothing
Nil
YUKIO OKADA, PRES
In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 665 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 150 M
TREND UP WORTH Yen
206 M
STARTED 2011 EMPLOYES
37
IMPORTER OF BRANDED FASHION CLOTHING.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 40.2 MILLION, 30 DAYS NORMAL TERMS
The
subject company was established by Isetan Mitsukoshi Holdings as an importer
and brand management company. The firm
acts as import agent for: “MUL BERRY”, “ALEXANDER WANG”, “RAG & BONE”. Goods are all supplied to Isetan Mitsukoshi
department stores and its group firms.
New brands continue to be imported.
Financials
are only partially disclosed.
The
sales volume for Mar/2013 fiscal term amounted to Yen 665 million, a 385% up from
Yen 103 million for irregular 7 months for the initial fiscal term from the
inception in the previous term. New
brands were added and imported. The net
profit was posted at Yen 9 million, compared with Yen 102 million net losses a
year ago.
For the current term ending Mar 2014 the net profit is
projected at Yen 15 million, on a 10% rise in turnover, to Yen 730
million. New branded clothing continue
to be added and imported.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 40.2 million, on 30 days normal terms.
Date Registered: Jun 2011
Regd No.: 0111-01-060042
(Tokyo-Shinjukuku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,000 shares
Issued: 3,000 shares
Sum: Yen 150 million
Major
shareholders (%): Mammina Co Ltd* (50), Company’s Own Treasury Stock (50)
No. of
shareholders: 2
*.. Retailer of women’s fashion clothing, at the caption
address, operating 55 stores nationwide, owned by Isetan Mitsukoshi Department
Store, founded 1964, capital Yen 100 million, sales Yen 600 million, employees
350, pres Yukio Okada, concurrently
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Imports and wholesales women’s branded fashion clothing: “MULBERRY”, “ALEXANDER
WANG”, “RAG & BONES”, others (--100%)
Clients:
[Mfrs, wholesalers] Isetan Mitsukoshi Department Store, JR Nishi-Nippon Isetan,
Dover Street Market Japan, Hankyu Hanshin Department Store, other
No. of accounts: 100
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Mulberry, Alexander Wang, Rag & Bones, Mammina Co,
other.
Slow But
Correct
Business area
in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
MUFG
(Shibjukudori)
Relations:
Satisfactory
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Terms Ending: |
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31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
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730 |
665 |
103 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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15 |
9 |
-102 |
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Total
Assets |
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656 |
216 |
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Net
Worth |
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206 |
47 |
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Capital,
Paid-Up |
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150 |
75 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.77 |
385.40 |
- - - |
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Current Ratio |
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.. |
.. |
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N.Worth Ratio |
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31.40 |
21.76 |
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N.Profit/Sales |
2.05 |
1.35 |
-99.03 |
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Notes:
Financials are only partially disclosed.
The 31/03/2012 is the initial accounting term for irregular 9 months
since the inception of the company.
Growth rate is adjusted on a 12-month basis.
Forecast (or estimated) figures
for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 62.17 |
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1 |
Rs. 103.38 |
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Euro |
1 |
Rs. 85.08 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPT |
RATING EXPLANATIONS
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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 |
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-- |
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.