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Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
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Name : |
FULL THROTTLES CO LTD |
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Registered Office : |
1-14-12 Jingumae Shibuyaku Tokyo 150-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
November, 2004 |
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Com. Reg. No.: |
0110-01-043687 (Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Organizer of wedding ceremonies, wholesale of wedding dresses |
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No. of Employees : |
17 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 6.9 million |
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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 |
|
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.
|
Source
: CIA |
FULL THROTTLES CO
LTD
REGD NAME: KK Full Throttles
MAIN OFFICE: 1-14-12 Jingumae Shibuyaku Tokyo 150-0001
JAPAN
Tel:
03-5412-0690
Fax: 03-3475-1124
URL: http://www.fullthrottles.com
E-Mail address: (thru the URL)
Organizer of wedding ceremonies, wholesale of wedding dresses
Shibuya, Ginza
KOICHI CHIDA, PRES
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 383 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 55 M
TREND SLOW WORTH Yen 94 M
STARTED 2004 EMPLOYES 17
ORGANIZER OF WEDDING CEREMONIES, RESTAURANTS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 6.9 MILLION, ON 30 DAYS NORMAL TERMS
The subject company was established by Koichi Chida in order to make
most of his experience in the subject line of business. This is an organizer of wedding ceremonies,
restaurants, and wholesales wedding dresses.
Has restaurants in Shibuya and Ginza, where the wedding ceremonies are
carried out. .
Financials are disclosed only partially.
The sales volume for Mar/2013 fiscal term amounted to Yen 383 million, a
2% down from Yen 390 million in the previous term. The operations plunged into the red to post
Yen 11 million net losses, compared with Yen 8 million net profit a year ago.
For the term that ended Mar 2014 the operations were projected to come
back to profitability to post Yen 10 million net profit, on a 4% rise in
turnover, to Yen 400 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 6.9 million, on the normal 30 days terms.
Date Registered: Nov 2004
Regd No.: 0110-01-043687 (Tokyo-Shibuyaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
4,472 shares
Issued:
1,118 shares
Sum: Yen 55.9 million
Major shareholders
(%): Mitsubishi UFJ Capital, Seibu Shinkin Capital, Resona Capital, Koichi
Chida, Emi Nozawa, Makoto Kobayashi (Breakdown not disclosed)
No. of
shareholders: 15
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Organizer of
wedding ceremonies, operation of restaurants, wholesales wedding dresses &
accessories (--100%)
Clients: Consumers,
business firms, other
No. of accounts:
Unavailable
Domestic areas of activities:
Centered in the greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Nobu Tokyo, Park French, Premium Restaurant, Hiro Planning, other
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Shin-Marunouchi)
Yachiyo
Bank (Harajuku)
Relations:
Satisfactory
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Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual Sales |
|
400 |
383 |
390 |
413 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
10 |
-11 |
8 |
7 |
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Total Assets |
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|
N/A |
N/A |
N/A |
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Net Worth |
|
|
94 |
105 |
97 |
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Capital, Paid-Up |
|
|
55 |
55 |
55 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.44 |
-1.79 |
-5.57 |
-6.56 |
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Current Ratio |
.. |
.. |
.. |
||
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N.Worth Ratio |
.. |
.. |
.. |
||
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N.Profit/Sales |
2.50 |
-2.87 |
2.05 |
1.69 |
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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.60.20 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
|
|
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 |
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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 |
|
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 |
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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.