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Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
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Name : |
CONTINENTAL FAR EAST INC |
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Registered Office : |
Continental Bldg, 3-18-9 Roppongi Minatoku
Tokyo 106-0032 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
February 1965 |
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Com. Reg. No.: |
0104-01-062603
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter and wholesaler of audio visual equipment &
products (including studio monitors, loud speakers), automotive parts &
components as well as machine tools |
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No. of Employees |
25 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
CONTINENTAL FAR EAST INC
Continental Far
East KK
Continental Bldg, 3-18-9
Roppongi Minatoku Tokyo 106-0032 JAPAN
Tel:
03-3583-5000 Fax: 03-3583-5008
URL: http://www.cfe.co.jp
E-Mail address: info@cfe.co.jp
Importer, exporter
and wholesaler of audio visual equipment & products (including studio
monitors, loud
speakers),
automotive parts & components as well as machine tools
Nil
ATSUSHI
SUZUKI, PRES Kazuko Suzuki, dir
Nami
Kondoh, dir Shin’ichiro
Suzuki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,331 M
PAYMENTSSlow but Correct CAPITAL Yen 30 M
TREND SLOW WORTH Yen 211 M
STARTED 1965 EMPLOYES 25
TRADING FIRM SPECIALIZING IN AUDIO VISUAL PRODUCTS &
PARTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Atsushi Suzuki in order to make
most of his experience in the subject line of business. This is a trading firm, owned and operated by
the Suzuki family, for import, export and wholesale of audio visual products
& parts, automotive parts & machine tools, other. Clients include broadcasting companies,
studios, TV companies, other professionals.
Financial are only partially disclosed as is the case with family-based
companies.
The sales volume for Sept/2013 fiscal term amounted to Yen 1,331 million,
a 7% down from Yen 1,432 million in the previous term. The operations plunged into the red to post
Yen 6 million net losses for the term, compared with Yen 3 million net profit a
year ago.
For the current term ending Sept 2014 the operations are projected to
come back to profitability to post Yen 5 million net profit, on a 5% rise in
turnover, to Yen 1,400 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Feb
1965
Regd No.: 0104-01-062603 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders (%): Atsushi Suzuki (50), Kazuko
Suzuki (10), Nami Kondoh (10)
No. of shareholders: 6
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales audio visual equipment & products (studio monitors, loud speakers,
other), automotive parts & components as well as machine tools, others
(--100%)
Clients: [Broadcasting
firms, mfrs, wholesalers] NHK, Victor Arcs Co, Covalent Sales Corp, Xebex Inc,
Nippon Columbia Co, Sony PCL, TBS TV, Victor Arks, TBS Asahi, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Dolby Laboratories, GTE, EAW, Becker Group, Zingali, other
Payment
record: Slow but Correct
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Roppongi)
SMBC (Akasaka)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
|
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
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Annual
Sales |
|
1,400 |
1,331 |
1,432 |
1,650 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
5 |
-6 |
3 |
13 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
211 |
217 |
214 |
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Capital,
Paid-Up |
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|
30 |
30 |
30 |
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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 |
5.18 |
-7.05 |
-13.21 |
-2.94 |
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Current Ratio |
.. |
.. |
.. |
||
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N.Worth Ratio |
.. |
.. |
.. |
||
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N.Profit/Sales |
0.36 |
-0.45 |
0.21 |
0.79 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
|
UK Pound |
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
-- |
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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.