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Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SELECTEA CO LTD |
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Registered Office : |
49 Aoicho Aoiku Shizuoka 420-0017 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2013 |
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Date of Incorporation : |
December, 1999 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of teas, sweets, nuts, confectionery |
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No. of Employees : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 |
SELECTEA CO LTD
REGD NAME: KK Selectea
MAIN OFFICE: 49 Aoicho Aoiku Shizuoka 420-0017 JAPAN
Tel: 054-273-2250
Fax: 054-273-2261
URL: http://www.selectea.co.jp
E-Mail address: manager@selectea.co.jp
Import, wholesale of teas, sweets, nuts, confectionery, other
Nil
MASATO KIKUTANI, PREES Tohru
Iwasaki, dir
Kyoko Kikutani, dir Masanori
Iwaishi, dir
In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 168 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW BUT CORRECT WORTH Yen 25 M
STARTED 1999 EMPLOYES 4
TRADING FIRM SPECIALIZING IN TEAS, NUTS, SWEETS, OTHER.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Masato Kikutani in order to make
most of his experience in the subject line of business. This is a trading firm, with mfg division,
for import and wholesale of teas, nuts, confectionery (sweets), other. Teas are imported from India, Sri Lanka,
China, other. Clients include tea
makers, retailers, other.
Financials are disclosed only partially.
The sales volume for Aug/2013 fiscal term amounted to Yen 168 million, a
similar amount in the previous term. The
operations plunged into the red to post Yen 9 million net loss, compared with
Yen 1 million net profit a year ago.
For the current term ending Aug 2014 the net profit is projected at Yen
3 million, on a 4% rise in turnover, to Yen 175 million.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
Date Registered: Dec 1999
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders
(%): Hiroshi Nakagawa, Masato Kikutani, Tohru Iwasaki, Kyoko Kikutani
(breakdown unavailable)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales teas (in bags, loose, canned, other), sweets, confectionery, nuts,
other (--100%)
Clients: [Mfrs,
wholesalers] Ito En Co, Ito En Sangyo, S Ishimitsu & Co, Current Co, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from China, India, Sri Lanka, Kenya, other
Domestically from Nidef Japan Co, other
Payment record: Slow but correct
Location: Business area in
Shizuoka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Shizuoka
Bank (H/O)
Shizuoka
Shinkin Bank (Anzai)
Relations:
Satisfactory
|
Terms Ending: |
|
31/08/2014 |
31/08/2013 |
31/08/2012 |
31/08/2011 |
|
Annual Sales |
|
175 |
168 |
168 |
182 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
3 |
-9 |
1 |
1 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
25 |
34 |
33 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.17 |
0.00 |
-7.69 |
25.52 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.71 |
-5.36 |
0.60 |
0.55 |
|
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/08/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.