MIRA INFORM REPORT

 

 

Report Date :

11.07.2014

 

IDENTIFICATION DETAILS

 

Name :

I’S CORPORATION

 

 

Registered Office :

Park Access Shibuya 1-4-7 Shibuya Shibuyaku Tokyo 150-0002

 

 

Country :

Japan

 

 

Date of Incorporation :

April, 2004

 

 

Com. Reg. No.:

0110-01-042236

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, export, wholesale of foodstuffs

 

 

No. of Employees :

Not Available

 

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 :

Unknown

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

 

 

 

 

Company name and address

 

I’S CORPORATION

 

REGD NAME:    I’s KK

MAIN OFFICE:  Park Access Shibuya 1-4-7 Shibuya Shibuyaku Tokyo 150-0002 JAPAN

                        Tel: 03-5466-7781    

 Fax: 03-5466-2071

 

URL:                 http://www.iscl.co.jp

E-Mail address: (thru the URL)

 

 

ACTIVITIES

 

Import, export, wholesale of foodstuffs, other

 

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

HIDEAKI HIRANOI, PRES

Hironori Hiranoi, dir

Toru Yamaguchi, dir

 

 

REGISTRATION

 

Date Registered:  Apr 2004

Regd No.:             0110-01-042236

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                240 shares

Sum:                   Yen 30 million

Major shareholders (%): Hideaki Hiranoi & families (--100)

 No. of shareholders: 3

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

FINDINGS

 

This is a trading firm established by Hideaki Hiranoi in order to make most of his experience in the subject line of business.  This is a trading firm for import, export and wholesale of foodstuffs: cooked rice, jellies, soft capsule, hard capsule, beverages, other.  The firm does not disclose information on financials and the contents of this report are based on the information from the Registration Certificate and their website.  Financials are not disclosed despite our repeated asking, saying this is a family-based company and not to be for the third parties.  It is estimated that the annual turnover is somewhere around Yen 150-200 million, but these figures are not verified.

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactory.

 

Bank References:

                        MUFG (Shibuya)

                        Relations: Money deposits and transfers only

 

 

FINANCES (In Million Yen)

 

NOT DISCLOSED AND UNAVAILALE.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.88

UK Pound

1

Rs.102.59

Euro

1

Rs.81.69

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.