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Report Date : |
10.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
FRANCEXPA JAPAN LTD |
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Registered Office : |
Eternity Manshion Wada, Daisan Bldg 1F, 1-4-9 Yoyogi Shibuyaku Tokyo
151--0053 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
July 1990 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports and wholesales dairy products & materials for use
in ice cream, cakes, other (--100%) |
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No of Employees : |
4 |
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 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
FRANCEXPA JAPAN LTD
Francexpa Japan KK
Eternity Manshion
WadaDaisan Bldg 1F, 1-4-9 Yoyogi Shibuyaku Tokyo 151--0053 Japan
Tel:
03-3320-1505
Fax: 03-3320-1380
ACTIVITIES: Import,
wholesale of dairy products for use in cakes, icecream
BRANCHES: Nil
OFFICERS: HIROSHI
HATANO, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,500 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 40 M
TREND STEADY WORTH Yen 136 M
STARTED 1990 EMPLOYES 4
COMMENT: TRADING FIRM SPECIALIZING IN DAIRY PRODUCTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company is the Japan Office of Francexpa and it imports and wholesales dairy products for use in icecream, cake, other. 50% of the goods are supplied from the parent. The information is very limited, with sales are given one uniform numbers, saying that financials are controlled & managed by the parent office and this is the best Japan office can disclose. Goods are also imported From Singapore, Australia, other.
Financials are disclosed only partially. Profits are not disclosed and estimated only.
The sales volume for Dec/2013 fiscal term amounted to Yen 1,500 million, a similar amount in the previous term (this is the best we can obtain). The net profit is estimated at Yen 5 million, similarly in the previous term.
For the current term ending Dec 2014 the net profit is projected at Yen 6 million, on a 3% rise in turnover, to Yen 1,545 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jul 1990
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 800 shares
Sum: Yen 40 million
Major
shareholders (%): Francexpa (60%), Shoei Food Co (20), Hiroshi Hatano (20)
No.
of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales dairy products & materials for use in ice cream, cakes, other (--100%)
Clients: [Mfrs, wholesalers] Morinaga Dairy Milk, Shoei Food Inc, Megmilk Snow Brand Meiji Milk Ind, other
No. of accounts: 150
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Francexpa SA (50%), other imports from Singapore, Australia, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactory.
Bank References:
SMBC (Shinjukudori)
Mizuho Bank (Shinjuku-Nishiguchi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
Annual
Sales |
|
1,545 |
1,500 |
1,500 |
1,500 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
6 |
5 |
5 |
7 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
136 |
131 |
126 |
|
Capital,
Paid-Up |
|
|
40 |
40 |
40 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.00 |
0.00 |
0.00 |
0.00 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
0.39 |
0.33 |
0.33 |
0.47 |
Notes: Financials
are only partially disclosed. Profits
are not disclosed and estimated only.
Forecast (or
estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs76.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TPT |
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.