|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
BALS CORPORATION |
|
|
|
|
Registered Office : |
Cosmos Aoyama West-A B1F, 5-53-67 Jingumae Shibuyaku Tokyo 150-0001 |
|
|
|
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Country : |
Japan |
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|
|
|
Financials (as on) : |
31.01.2015 |
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Date of Incorporation : |
July 2011 |
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Com. Reg. No.: |
0110-01-070165 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, retails and wholesales furniture, interior goods,
others, operating 132 stores domestically and 11 overseas |
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|
|
|
No. of Employees |
2,121 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
BALS CORPORATION
REGD NAME: KK
Bals
MAIN OFFICE: Cosmos
Aoyama West-A B1F, 5-53-67 Jingumae Shibuyaku Tokyo 150-0001
JAPAN
Tel:
03-6419-3111
URL: http://www.bals.co.jp
E-Mail
address: (thru the URL)
Import,
retail, wholesale of interior furniture
132
domestic, 11 overseas
Hong
Kong (2), Singapore, China
FUMIO
TAKASHIMA, PRES Kazuyuki Sano, mgn
dir
Katsuhiro
Saisho, mgn dir Hideaki Inaba,
dir
Seiichi
Mizuno, dir Yasumichi
Morita, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 32,576 M
PAYMENTSSlow
but correct CAPITAL Yen 1,340 M
TREND UP WORTH Yen 5,971 M
STARTED 2011 EMPLOYES
RETAINER OF IMPORTED FURNITURE AND INTERIOR GOODS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by originally 1990 for selling imported furniture and
interior goods, and in Feb/2005 to upgrade to Tokyo S/E, but was delisted in
Jan 2012 by the MBO of the firm. In Apr
2012 merged with TM Corp. In Dec 2013
the firm went into business alliance with Seven & I Holdings Co Ltd, who
holds 30% of the capital of the firm.
This is a retailer of imported furniture and interior goods. Started to import furniture and interior
items from Europe, India and S/E Asia, other.
Operates 132 retail shop domestically and 11 overseas. Goods are also wholesaled to supermarkets,
wholesalers, other.
The sales volume
for Jan/2014 fiscal term amounted to Yen 32,576 million, a 2% up from Yen
31,913 million in the previous term. The
recurring profit was posted at Yen 384 million, but resulted in Yen 137 million
net losses for the term, respectively, compared with Yen 302 million net losses
a year ago. The losses come from the
extraordinary loss from the high costs of expenses for opening stores
domestically & overseas.
For the
current term ending Jan 2015 the operations are projected to come back to
profitability to post Yen 400 million recurring profit and Yen 200 million net
profit, respectively, on a 3% rise in turnover, to Yen 33,500 million. Business is seen expanding steadily.
The
financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jul 2011
Regd No.: 0110-01-070165 (Tokyo-Shibuyaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
107,200 shares
Issued:
26,800 shares
Sum: Yen 1,340 million
Major shareholders (%): Bals International Ltd (70%),
Seven & I Holdings Co Ltd (30)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, retails and wholesales furniture,
interior goods, others, operating 132 stores domestically and 11 overseas
(--100%)
Clients: [Consumers, mfrs, wholesalers] Parco
Co, AEONMALL Corp, Mitsui Fudosan Retail Management, Mitsubishi Estate Co, Pals
Hong Kong, Simon Co, Fujii Daimaru Co, other
No. of
accounts: 300 (Wholesale Div only)
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Corp,
Uchino Co, Suminoe Co, Doshisha Corp, Shikibo Ltd, Yamazen Corp, Yoshioka
Electric Construction Co, Ladonna Co, Sankyo Seiko Fashion Service Co, other.
Imports from Europe, India, S/E
Asia, China, other
Payment record: Slow
but correct
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Roppongi)
Mizuho
(Aoyama)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/01/2015 |
31/01/2014 |
31/01/2013 |
31/01/2012 |
|
|
Annual
Sales |
|
33,500 |
32,576 |
31,913 |
0 |
|
Recur.
Profit |
|
400 |
384 |
|
-111 |
|
Net
Profit |
|
200 |
-137 |
-302 |
-111 |
|
Total
Assets |
|
|
24,976 |
23,384 |
15,033 |
|
Current
Assets |
|
|
11,108 |
8,392 |
466 |
|
Current
Liabs |
|
|
15,524 |
6,295 |
545 |
|
Net
Worth |
|
|
5,971 |
3,621 |
4,388 |
|
Capital,
Paid-Up |
|
|
1,340 |
100 |
2,250 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.84 |
2.08 |
- - - |
- - - |
|
|
Current Ratio |
|
.. |
71.55 |
133.31 |
85.50 |
|
N.Worth Ratio |
.. |
23.91 |
15.48 |
29.19 |
|
|
R.Profit/Sales |
|
1.19 |
1.18 |
.. |
0 |
|
N.Profit/Sales |
0.60 |
-0.42 |
-0.95 |
0 |
|
|
Return On Equity |
.. |
-2.29 |
-8.34 |
-2.53 |
|
Notes:
The 31/01/2012 fiscal term is the initial accounting term since the inception
of the firm.
Forecast
(or estimated) figures for the 31/01/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.