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Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
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Name : |
IONIA LTD |
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Registered Office : |
Daikanyama First 2F, 1-34-28 Ebisu-Nishi Shibuyaku Tokyo 150-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May, 1991 |
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Com. Reg. No.: |
0110-01-069098 (Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of interior fabrics, upholstery, interior goods,
curtains |
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No. of Employees : |
5 |
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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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
IONIA LTD
REGD NAME: KK Ionia
MAIN OFFICE: Daikanyama First 2F, 1-34-28 Ebisu-Nishi Shibuyaku
Tokyo 150-0021 JAPAN
Tel:
03-5728-2891
Fax: 03-5728-2892
URL: http://www.ionia.co.jp
E-Mail address: (thru the URL)
Import, wholesale of interior fabrics, upholstery, interior goods, curtains
Nil
NOBORU SAITO, PRES
Yohei Saito, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 163 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 3 M
TREND SLOW WORTH Yen 49 M
STARTED 1991 EMPLOYES 5
TRADING FIRM SPECIALIZING UPHOLSTERY FABRICS, CURTAINS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by Noboru Saito in order to make
most of his experience in the subject line of business. This is a trading firm, owned and operated by
the Saito family, for import and wholesale of upholstery fabrics, curtains,
interior goods, other. Goods are
imported from USA, France, Netherlands, Italy, UK, Asian countries, other. Clients include furniture makers,
wholesalers, other.
Financials are disclosed only partially as is the case with family-based
companies.
The sales volume for Mar/2013 fiscal term amounted to Yen 163 million, a
4% down
from Yen 169 million in the previous term. High Yen hurt imports, recuing earnings in
Yen terms. The net profit was posted at yen 1 million, compared with Yen 2
million a year ago.
For the term that ended Mar 2014 the net profit is projected at Yen 3
million, on a 4% rise in turnover, to Yen 170 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May 1991
Regd No.: 0110-01-069098 (Tokyo-Shibuyaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240 shares
Issued:
60 shares
Sum: Yen 3 million
Major shareholders
(%): Noboru Saito (60) and families (40)
No. of shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales upholstery fabrics, curtains, interior goods, other (--100%)
Clients: [Mfrs,
wholesalers] I-Dec Co, Regalo Bag Factory, Otsuka Furniture, other to furniture
makers, hand-bag makers, other
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mana Trading, also imports from USA, Europe, Asian Countries,
other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased
and maintained satisfactorily.
Bank References:
SMBC (Ueno)
MUFG (Ueno)
Relations:
^Satisfactory
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31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual Sales |
|
170 |
163 |
169 |
180 |
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Recur. Profit |
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Net Profit |
|
3 |
1 |
2 |
4 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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|
49 |
48 |
45 |
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Capital, Paid-Up |
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|
3 |
3 |
3 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.29 |
-3.55 |
-6.11 |
39.53 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.76 |
0.61 |
1.18 |
2.22 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.06 |
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|
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NNA |
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 |
|
<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.