|
Report Date : |
17.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARCANE LIMITED |
|
|
|
|
Registered Office : |
Morita Bldg, 1-5-6 Nihombashi-Kakigaracho Chuoku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
May, 1980 |
|
|
|
|
Com. Reg. No.: |
0100-01-096932 (Tokyo-Chuoku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale of wines, foodstuffs |
|
|
|
|
No. of Employees : |
120 |
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 |
|
Payment Behaviour : |
No complaints |
|
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) |
|
|
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 |
ARCANE LIMITED
REGD NAME: KK Arukan (registered in Japanese)
MAIN OFFICE: Morita Bldg, 1-5-6 Nihombashi-Kakigaracho
Chuoku Tokyo 103-0014 JAPAN
Tel:
03-3664-6551
Fax: 03-3660-1421
URL: http://www.arcane-jp.com/
E-Mail address: info@arcane-jp.com
Import, wholesale of wines, foodstuffs, centrally from France &
Italy
Tokyo (Otaku), Osaka, Fukuoka
Paris, Milan
LLOYD SEIJI NAKANO, PRES Hideo
Morita, ch
Takeshi Kobayashi, v ch Shigeru
Sugiyama, v pres
Shoji Kawamura, mgn dir Masanori
Suzuki, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 9,575 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
70 M
TREND SLOW WORTH Yen 1,168 M
STARTED 1980 EMPLOYES 120
TRADING HOUSE SPECIALIZING IN FOODSTUFFS, CENTRALLY FROM ITALY &
FRANCE.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUISNESS
ENGAGEMENTS
The subject company was established as a trading house for importing
wines & foodstuffs from France, originally by a French capital. In Mar 1999, transferred the ownership to
Raykay Inc, foodstuffs wholesaler, at the registered address, owned by Morita
Holdings Co Ltd/ In 2005 the firm
became a wholly owned subsidiary of Morita Holdings KK, when the Raykay Inc
dissolved in Jun 2005. In Feb 2006,
formed a holding company, Japan Food & Liquor Alliance Inc and became its
wholly owned subsidiary. This is a trading
firm for importing and wholesaling high-quality foodstuffs: caviar, foie gras,
truffe, smoked salmon, escargot, spices, virgin olive oils, wine & spirits,
etc. Goods are imported from France
centrally, other from Italy, Spain, Australia, etc. Has offices in Paris and Milan. Clients are major hotel chains, department
stores, restaurants, food processors, confectionery mfrs, etc, nationwide.
The sales volume for Sept/2013 fiscal term amounted to Yen 9,575
million, a 1% down from Yen 9,687 million in the previous term. The net profit was posted at Yen 77 million,
compared with Yen 79 million a year ago.
For the current term ending Sept 2014 the net profit is projected at Yen
85 million, on a 4% rise in turnover, to Yen 10,000 million.
.
The financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: May 1980
Regd No.: 0100-01-096932 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,200 shares
Issued:
300 shares
Sum: Yen 70 million
Major shareholders
(%):
Japan Food & Liquor Alliance Inc*(100)
*.. Holding company formed in Feb 2006.
The subject firm became wholly owned subsidiary
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesalers wines & spirits, caviar, foie gras, truffe, smoked salmon, ham
& sausages, escargot, cheese & butter, olive oils, jam, spices, pasta,
bread, wine vinegar, other foodstuffs and foodstuff ingredients (--100%).
Goods are imported from France, Italy, Spain, Australia, other.
Clients: [Restaurants,
hotels, department stores] Hotel Okura, Palace Hotel, Hotel New Otani, Keio
Plaza Hotel, Daiichi Hotel, Maxim de Paris, Takashimaya, Kokubu Ltd (food
processor), Jalux Inc (JAL group), Iwase Esta Corp, other.
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from France, Italy, Australia, Spain, other.
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Osaka)
Relations:
Satisfactory
|
Terms Ending: |
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
|
Annual Sales |
|
10,000 |
9,575 |
9,687 |
9,011 |
|
Recur. Profit |
|
|
|
169 |
|
|
Net Profit |
|
85 |
77 |
79 |
125 |
|
Total Assets |
|
|
4,743 |
4,215 |
4,704 |
|
Current Assets |
|
|
4,312 |
4,077 |
4,584 |
|
Current Liabs |
|
|
2,033 |
1,547 |
2,121 |
|
Net Worth |
|
|
1,168 |
1,221 |
1,058 |
|
Capital, Paid-Up |
|
|
70 |
70 |
70 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.44 |
-1.16 |
7.50 |
.. |
|
|
Current Ratio |
|
.. |
212.10 |
263.54 |
216.12 |
|
N.Worth Ratio |
.. |
24.63 |
28.97 |
22.49 |
|
|
R.Profit/Sales |
|
.. |
.. |
1.74 |
.. |
|
N.Profit/Sales |
0.85 |
0.80 |
0.82 |
1.39 |
|
|
Return On Equity |
.. |
6.59 |
6.47 |
11.81 |
|
Notes: Forecast (or estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.19 |
|
|
1 |
Rs.103.14 |
|
Euro |
1 |
Rs.81.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.