|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
FB CO LTD |
|
|
|
|
Registered Office : |
2-36-2 Torii-Dori Nakamuraku Nagoya 453-0044 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
28.02.2013 |
|
|
|
|
Date of Incorporation : |
February, 1976 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturing of women’s fashion clothing, underwear |
|
|
|
|
No. of Employees : |
72 |
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) |
|
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 |
FB CO LTD
REGD NAME: KK F. B.
MAIN OFFICE: 2-36-2 Torii-Dori Nakamuraku Nagoya 453-0044
JAPAN
Tel:
052-482-7171
Fax: 052-482-7261
URL: http://www.fb-fashion.com
E-Mail address: (thru the URL)
Mfg of women’s fashion clothing, underwear
Nagoya (2)
Bangladesh, India, China, Thailand
Bangladesh, India, China, Thailand (--partnership factories)
KATSUNORI YOSHIKAWA, PRES
Yukio Ando, ch Junko
Ando, v ch
Mieko Ando, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen
2,466 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
100 M
TREND SLOW WORTH
Yen 1,223 M
STARTED 1976 EMPLOYES 72
MFR OF WOMEN’S FASHION CLOTHING.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by Yukio Ando in order to make most
of his experience in the subject line of business. This is basically a trading firm, with mfg
division, specializing in women’s fashion clothing and underwear. Mfg is at overseas partnership factories:
India, China, Bangladesh and Thailand.
Goods are all imported. Clients
include supermarkets, chain stores, other.
FINANCIAL
INFORMATION:
The sales volume for Feb/2013 fiscal term amounted to Yen 2,466 million,
a 9% down from Yen 2,708 million in the previous term. Imports of the manufactured clothing were
hurt by the high Yen, reducing earnings substantially in Yen terms. The recurring profit was posted at Yen 80
million and the net profit at Yen 48 million, respectively, compared with Yen
130 million recurring profit and Yen 72 million net profit, respectively, a year
ago.
For the term that ended Feb 2014 the recurring profit was projected at
Yen 85 million and the net profit at Yen 50 million, respectively, on a 3% rise
in turnover, to Yen 2,540 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business
engagements.
Date Registered: Feb 1976
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
804,000 shares
Issued:
201,000 shares
Sum: Yen 100.5 million
Major shareholders
(%): Yukio Ando (50), Junko Ando (20), Katsunori Yoshikawa (15),
Mieko Ando (5), Ryosuke Ando (5)
No. of
shareholders: 8
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
women’s fashion clothing: one-piece dress, suits, blouse, coat, jacket, skirt,
pants, other (--100%)
Goods are manufactures at overseas partnership factories and imported.
Clients: [Mfrs,
wholesalers] Shimamura Co, Nissen Co, Belluna Co, Dinos Cecile Co, Scroll Corp,
Ito-Yokado, Aeon Retail, Daiei Corp, Izumiya, other
No. of accounts: 450
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from partnership makers in India, Bangladesh, China,
Thailand, Korea, Taiwan, other.
Domestically supplied from: Takihyo Co, Nakaden Keori, Kiyohara &
Co, other
Payment record: No complaints
Location: Business area in
Nagoya. Office premises at the caption
address are owned and maintained satisfactory.
Bank References:
Ogaki
Kyoritsu Bank (Kurokawa)
MUFG
(Nagoya-Ekimae)
Relations:
Satisfactory
|
Terms Ending: |
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
|
|
Annual Sales |
|
2,540 |
2,466 |
2,708 |
2,388 |
|
Recur. Profit |
|
85 |
80 |
130 |
|
|
Net Profit |
|
50 |
48 |
72 |
9 |
|
Total Assets |
|
|
2,797 |
2,885 |
2,812 |
|
Current Assets |
|
|
1,527 |
1,723 |
|
|
Current Liabs |
|
|
1,298 |
1,457 |
|
|
Net Worth |
|
|
1,223 |
1,206 |
1,157 |
|
Capital, Paid-Up |
|
|
100 |
100 |
100 |
|
Div.Ttl in Million (¥) |
|
|
10 |
10 |
10 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.00 |
-8.94 |
13.40 |
-4.78 |
|
|
Current Ratio |
.. |
117.64 |
118.26 |
.. |
|
|
N.Worth Ratio |
.. |
43.73 |
41.80 |
41.15 |
|
|
R.Profit/Sales |
3.35 |
3.24 |
4.80 |
.. |
|
|
N.Profit/Sales |
1.97 |
1.95 |
2.66 |
0.38 |
|
|
Return On Equity |
.. |
3.92 |
5.97 |
0.78 |
|
Notes: Forecast (or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.