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Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
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Name : |
IBEC CO LTD |
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Registered Office : |
AI Bldg Bekkan 2-1-30 Daimyo Chuoku
Fukuoka 810-0041 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 (Estimated) |
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Date of Incorporation : |
08.08.1981 |
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Com. Reg. No.: |
2900-01-002107
(Fukuoka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is a Business Consultant, Providing Business
Information & Data Processing |
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No of Employees : |
20 |
RATING & COMMENTS
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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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Maximum Credit Limit : |
Yen 58.9 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
IBEC CO LTD
KK Ibec
AI Bldg Bekkan 2-1-30Daimyo
Chuoku Fukuoka 810-0041 JAPAN
Tel:
092-525-7179
URL: http://www.i-bec.co.jp
E-Mail address: (thru the URL)
Subject is a Business Consultant, Providing Business Information & Data Processing
Tokyo
AKIO
ITAI, PRES
Yasuhiro
Itai, rep dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,900 M
PAYMENTS Slow
But Correct CAPITAL Yen 10 M
TREND SLOW WORTH Yen 962 M
STARTED 1981 EMPLOYES 20
BUSINESS CONSULTANT, INFORMATION PROVIDER OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: ESTIMATED AT YEN 58.9 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established by Akio Itai in order to make most of his experience in the subject line of business. This is a business consultant, providing business information & data processing. Clients are business firms and individual persons, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 2,900 million, a 4% down from Yen 3,019 million in the previous term. The recurring profit was posted at Yen 197 million, while resulted in Yen 193 million net losses for the term, compared with Yen 23 million recurring profit and Yen 27 million net profit, respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at Yen 200 million and the net profit at Yen 50 million, respectively, on a 3% rise in turnover, to Yen 3,000 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 58.9 million, on the normal 30 days terms.
Date Registered: 08 Aug 1981
Regd No.: 2900-01-002107 (Fukuoka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Akio Itai (50), Eiko Itai (50)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Business
consultant, providing information, data processing, other (--100%)
Clients: Business firms,
individual users, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in Fukuoka
Suppliers: [Mfrs,
wholesalers] IBM Japan, Dell, Oracle Japan, Rakuten, SoftBank Technology, KDDI,
other
Payment record: Slow But Correct
Location: Business area in
Fukuoka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Howa Bank (Fukuoka)
Bank of Fukuoka (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
3,000 |
2,900 |
3,019 |
3,060 |
|
Recur.
Profit |
|
200 |
-197 |
23 |
|
|
Net
Profit |
|
50 |
-193 |
27 |
195 |
|
Total
Assets |
|
|
2,860 |
2,875 |
2,570 |
|
Current
Assets |
|
|
931 |
946 |
|
|
Current
Liabs |
|
|
1,304 |
1,101 |
|
|
Net
Worth |
|
|
962 |
1,156 |
1,133 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.45 |
-3.94 |
-1.34 |
8.05 |
|
|
Current Ratio |
.. |
71.40 |
85.92 |
.. |
|
|
N.Worth Ratio |
.. |
33.64 |
40.21 |
44.09 |
|
|
R.Profit/Sales |
6.67 |
-6.79 |
0.76 |
.. |
|
|
N.Profit/Sales |
1.67 |
-6.66 |
0.89 |
6.37 |
|
|
Return On Equity |
.. |
-20.06 |
2.34 |
17.21 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.47 |
|
UK Pound |
1 |
Rs.99.70 |
|
Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.