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Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
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Name : |
ARAKAWA SANGYO CO LTD |
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4Registered Office : |
2-14-6 Imado Taitoku Tokyo 111-0024 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2013 |
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Date of Incorporation : |
June, 1953 |
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Com. Reg. No.: |
0105-01-000027 (Tokyo-Taitoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of shoe-repairing materials, shoes materials |
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No. of Employees : |
10 |
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 |
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Maximum Credit Limit : |
Yen 8.7 million |
|
Status : |
Satisfactory |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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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 |
ARAKAWA SANGYO CO
LTD
REGD NAME: Arakawa Sangyo KK
MAIN OFFICE: 2-14-6 Imado Taitoku Tokyo 111-0024 JAPAN
Tel:
03-3874-8191
Fax: 03-3874-8035
URL: http://www.arakawasangyo.co.jp
E-Mail address: (thru the URL)
Mfg of shoe-repairing materials, shoes materials
Nil
At the caption address
TOICHIRO MAEDA, PRES
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 483 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 385 M
STARTED 1953 EMPLOYES 10
MFR SPECIALIZING IN SHOE REPAIRING MATERIALS, SHOES MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 8.7 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally in 1921 by Shokichi
Arakawa for mfg shoe repairing materials, on his account. Incorporated in 1958 the firm has been succeeded
by his descendants. This is a
specialized mfr of shoe reaping materials, shoes materials, foot-care products,
and the related. Goods are also
imported. Acts as import agent for Tasco
Inc (USA).
Financials are only partially disclosed.
The sales volume for Apr/2013 fiscal term amounted to Yen 483 million, a
1% down from Yen 490 million in the previous term. The net profit was posted at Yen 5 million,
compared with Yen 21 million a year ago.
For the term that ended Apr 2014 the net profit was projected at Yen 20
million, on a 4% rise in turnover, to Yen 500 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 8.7 million, on 30 days normal terms.
Date Registered: Jun 1953
Regd No.: 0105-01-000027 (Tokyo-Taitoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued:
20,000 shares
Sum: Yen 10 million
Major shareholders
(%): Toichiro Maeda and families (--100)
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures shoes
repairing materials, shoe-making materials, foot-care products, other (--100%).
Goods are also imported from USA, other
Clients: [Mfrs,
wholesalers] Yazawa Co, Shantei Co, Jewel Co, Nakai Shoten, CQS, Mister
Quickman, other
No. of accounts: 200
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Dasco, Gotz, Tacco Foot Care, Harvest Co, Koatsu Cloth Co, Asahi
Rubber Co, Asahi Kogyo Sen-I Co, Dainichi Rubber Co, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Kaminarimon)
Relations:
Satisfactory
|
Terms Ending: |
|
30/04/2014 |
30/04/2013 |
30/04/2012 |
30/04/2011 |
|
Annual Sales |
|
500 |
483 |
490 |
488 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
20 |
5 |
21 |
18 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
385 |
380 |
359 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.52 |
-1.43 |
0.41 |
-3.75 |
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Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
4.00 |
1.04 |
4.29 |
3.69 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/04/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.20 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
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.