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Report Date : |
11.10.2014 |
IDENTIFICATION DETAILS
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Name : |
ALCO INTERNATIONAL LTD |
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Registered Office : |
Honmachi Heisei Bldg 9F, 1-2-1 Itachibori Nishiku Osaka 550-0012 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
August 1971 |
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Com. Reg. No.: |
1200-01-041111 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trading firm for import, export, wholesale and retail (including Net
Shop sales) of garments, textiles, office furniture, accessories, other
(--100%) |
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No of Employees : |
24 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 60.2 Million |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
ALCO INTERNATIONAL
LTD
Alco International KK
Honmachi Heisei Bldg 9F, 1-2-1 Itachibori Nishiku Osaka 550-0012 Japan
Tel: 06-6533-0226
Fax: 06-6535-4306
URL: http://www.alco-group.com
E-Mail address: (thru the URL)
ACTIVITIES: Import, export, wholesale, retail of
garments/textiles, furniture, other
BRANCHES: Tokyo; Nagoya Kyoto (--stores)
OFFICERS: SHINJI FURIHATA, PRES Shinji Furihata, ch
Takeshi Kato, mgn
dir Koji Ikai, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 2,376 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 504 M
STARTED 1971 EMPLOYES 24
COMMENT: TRADING
FIRM SPECIALIZING IN GARMENTS & TEXTILES. FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: ESTIMATED AT YEN 60.2 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established by Shinji Furihata in order to make
most of his experience in the subject line of business. This is a trading firm for import, export,
wholesale and retail of garments, textiles, accessories, rugs & carpets,
office furniture. Imports from Europe,
USA, China, other, acting as import agents of these countries. Goods are also sold online. Operates 2 retail shops.
The sales volume for Jun/2013 fiscal term amounted to Yen 2,376 million,
a 34% up from Yen 1,771 million in the previous term. Net shop sales rose. One store was enlarged. The recurring profit was posted at Yen 176
million and the net profit at Yen 89 million, respectively, compared with Yen
113 million recurring profit and Yen 63 million net profit, respectively, a
year ago.
For the term that ended Jun 2014 the recurring profit was projected at
Yen 185 million and the net profit at Yen 95 million, respectively, on a 5%
rise in turnover, to Yen 2,500 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 60.2 million, on 30 days normal terms.
Date Registered: Aug
1971
Regd No.: 1200-01-041111
(Osaka-Nishiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued:
20,000 shares
Sum: Yen
10 million
Major shareholders
(%): Shinji Furihata (95)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading firm for
import, export, wholesale and retail (including Net Shop sales) of garments,
textiles, office furniture, accessories, other (--100%)
(Sales Divisions):
Import Division: garments,
textiles, accessories, health care/comfort products, office furniture, rugs &
carpets, other:
Export Division: office furniture,
office equipment, safes, building materials, hardware, kitchen materials, other
Clients: [Mfrs,
wholesalers, consumers] MIS Inc, NDC Japan Inc, Styling Life Holdings, other
Exports to Hong Kong, Mid/East Asia, other
No. of accounts: 300 (wholesale div)
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from Italy, France, UK, USA, China, Portugal, Denmark,
Switz, other (acting as import agents)
Domestically: Sunwave Corp, Fuso Kinzoku Kogyo (metal Ind), other
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
SMBC (Midosuji)
Resona bank (Semba)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2014 |
30/06/2013 |
30/06/2012 |
30/06/2011 |
|
|
Annual Sales |
|
2,500 |
2,376 |
1,771 |
1,318 |
|
Recur. Profit |
|
185 |
176 |
113 |
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Net Profit |
|
95 |
89 |
63 |
20 |
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Total Assets |
|
|
1,220 |
999 |
840 |
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Current Assets |
|
|
1,128 |
931 |
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Current Liabs |
|
|
453 |
340 |
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Net Worth |
|
|
504 |
420 |
360 |
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Capital, Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
|
|
5.00 |
3.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.22 |
34.16 |
34.37 |
4.85 |
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Current Ratio |
|
.. |
249.01 |
273.82 |
.. |
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N.Worth Ratio |
|
.. |
41.31 |
42.04 |
42.86 |
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R.Profit/Sales |
|
7.40 |
7.41 |
6.38 |
.. |
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N.Profit/Sales |
|
3.80 |
3.75 |
3.56 |
1.52 |
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Return On Equity |
|
.. |
17.66 |
15.00 |
5.56 |
Notes: Forecast (or estimated) figures for the 30/06/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.77.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
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|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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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 |
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<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.